Sysco Corp (NYSE: SYY) is a foodservice distribution company that purchases, stores, and delivers food and related products to restaurants, healthcare facilities, educational institutions, and other foodservice operators. Revenue is transactional, generated by selling food and non-food products at a margin over cost across its distribution network. Sysco operates through three primary reportable segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. In FY2025 (52-week year ended June 28, 2025), U.S. Foodservice Operations produced $56.97B in sales and International Foodservice Operations produced $14.91B in sales. The company is incorporated in Delaware and headquartered at 1390 Enclave Parkway, Houston, Texas. Sysco's U.S. distribution footprint is concentrated in California, Florida, Texas, and Illinois, which account for a combined 75 of its U.S. facilities as of the FY2025 10-K filed August 22, 2025.

Revenue model

Transactional product sales. Sysco earns a gross margin on food and related products sold to foodservice customers. U.S. Foodservice gross margin was 19.09% in FY2025, down from 19.35% in FY2024. No subscription or fee-based revenue model is described in the filing excerpts.

Products and services

Food products and non-food supplies distributed to foodservice operators. The SYGMA segment serves as a separate distribution operation. Technology systems are used internally for order generation, truck routing, warehouse management, and day-to-day operations.

Customers and end markets

Foodservice operators including restaurants, healthcare facilities, and educational institutions. The filing references U.S. Foodservice, International Foodservice, and SYGMA as the customer-facing segments. No customer concentration data is disclosed in the filing excerpts.

Value-chain role

Wholesale distributor and logistics operator sitting between food manufacturers and foodservice end operators. Sysco manages warehousing, order selection, and truck-based last-mile delivery to its customers.

Geographic exposure

Primary operations in the United States, with international operations including Ireland, France, Sweden, and a Mexico joint venture. U.S. facility concentration in California, Florida, Texas, and Illinois. International Foodservice sales were $14.91B in FY2025.

Source: SEC 10-K, filed 2025-08-22

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