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The Dividend Idea
(A Snapshot of attractive Dividend Stocks)
  - By Dividend Yield - Stock, Capital, Investment -




              48/2012(2012-12-01)
The Dividend Idea
                          - By Dividend Yield - Stock, Capital, Investment -



Content:

1.    Summary
2.    Price Facts
3.    Long-Term Price Ratios And Margins
4.    Income Statement
5.    Balance Sheet
6.    Cash Flow Statement
7.    Peer-Fact Sheet




© By Dividend Yield - Stock, Capital, Investment
* Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books
                                                         -2-
The Dividend Idea
                                    - By Dividend Yield - Stock, Capital, Investment -




Company Summary:
Sysco Corporation (Sysco), along with its subsidiaries and divisions, is a North
American distributor of food and related products primarily to the foodservice
or food-away-from-home industry. The Company provides products and re-
lated services to approximately 400,000 customers, including restaurants,
healthcare and educational facilities, lodging establishments and other food-
service customers. Sysco provides food and related products to the foodser-
vice or food-away-from-home industry. It has aggregated its operating com-
panies into a number of segments, of which only Broadline and SYGMA are
the main segments. Broadline operating companies distribute a line of food
products and a variety of non-food products to their customers. SYGMA oper-
ating companies distribute a line of food products and a variety of non-food
products to chain restaurant customer locations. In May 2011, it acquired
Goldberg & Solovy Foods, Inc. (G&S). On October 3, 2012, the Company ac-
quired Keelings Foods.




  2.5                                                                                               680

                                                                                                    660
    2
                                                                                                    640
             EPS Data in USD




                                                                                                          Shares in million




  1.5                                                                                               620

    1                                                                                               600

                                                                                                    580
  0.5
                                                                                                    560

    0                                                                                               540
        2003-06                    2005-06     2007-06   2009-06          2011-06            TTM

                               Earnings Per Share USD        Dividends USD                   Shares Mil


© By Dividend Yield - Stock, Capital, Investment
* Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books
                                                         -3-
The Dividend Idea
                             - By Dividend Yield - Stock, Capital, Investment -


Price Facts                    NYSE:SYY

Stock Price                   Estimated Value*           Potential                          Rating Points**
31.65                         36.00                      13.74%                             5/10

Size                          Category                   Sector                             Rating:
Large Cap                     Value                      Services                           Hold
                              Dividend Champion          Industry
                              Growth                     Food Wholesale

P/E                           16.84                      # Yrs Dividend Growth              43
Fwd P/E                       14.93                      Dividend Growth Rate 1Y            4.00%
P/S                           0.43                       Dividend Growth Rate 3Y            5.70%
P/B                           3.8                        Dividend Growth Rate 5Y            8.90%
Dividend Yield                3.54%                      Dividend Growth Rate 10Y           14.00%
PEG                           2.42                       EPS Last 10 Years                  16.41
PEG Payback                   10.5                       Dividends Paid Past 10Y            7.78
EV/EBITDA                     8.42                       Payout                             57.0%
Market Capitalization         18.6B                      Cash MRQ                           550M
EBITDA TTM                    2.5B                       Debt MRQ                           3.02B

* Estimated By Morningstar    ** Rated By StockScouter



                                                                                                          32

                                                                                                          16

                                                                                                          8

                                                                                                          4

                                                                                                          2

                                                                                                          1

                                                                                                          0.5

                                                                                                          0.25
                06/04               06/06                06/08              06/10                06/12

                              AVG P/E                PRICE/ SALES              PRICE/ BOOK


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The Dividend Idea
                            - By Dividend Yield - Stock, Capital, Investment -


Margin

Year        AVG      PRICE/    PRICE/     BOOK        DEBT/      Operating      Net Profit       ROE in %   ROA in %
            P/E      SALES     BOOK       VALUE       EQUITY     Margin in %    in %
06/12       15.1     0.41      3.73       8           0.64       4.50           2.60             23.89      9.30
06/11       15       0.47      3.95       7.95        0.57       4.90           2.90             27.00      10.10
06/10       13.9     0.45      4.35       6.5         0.65       5.30           3.20             32.43      11.40
06/09       14.3     0.37      3.93       5.85        0.72       5.10           2.90             30.79      10.40
06/08       17.2     0.46      4.98       5.67        0.58       5.00           2.90             33.08      11.00
06/07       20.8     0.59      6.16       5.36        0.54       4.90           2.90             31.63      10.50
06/06       23.6     0.59      6.2        4.93        0.58       4.60           2.60             29.44      9.40
06/05       23.5     0.78      8.26       3.41        0.62       5.20           3.20             36.12      11.20
06/04       25.9     0.79      8.64       0           0          5.20           3.10             38.10      0.00
06/03       24.5     0.75      8.66       0           0          5.10           3.00             35.95      0.00

Average     19.38    0.57      5.89       4.77        0.49       4.98           2.93             31.84      8.33




 45
 40
 35
 30
 25
 20
 15
 10
   5
   0
        2003-06             2005-06          2007-06             2009-06            2011-06                 TTM

                    Gross Margin %                                Operating Margin %
                    Return on Equity %                            Return on Invested Capital %

© By Dividend Yield - Stock, Capital, Investment
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                                                         -5-
The Dividend Idea
                          - By Dividend Yield - Stock, Capital, Investment -


Income Statement
Fiscal year ends in June. USD in millions except per share data.
                                                       2008-06     2009-06   2010-06   2011-06   2012-06    TTM
Revenue                                                37,522      36,853    37,243    39,323    42,381     42,881
Cost of revenue                                        30,327      29,817    30,136    32,002    34,704     35,149
Gross profit                                           7,195       7,036     7,107     7,321     7,677      7,733

Other operating expenses                              0            5,164     5,132     5,390     5,786      5,872
Total operating expenses                              5,315        5,164     5,132     5,390     5,786      5,872
Operating income                                      1,880        1,872     1,976     1,932     1,891      1,860

Interest Expense                                      112          116       125       118       113        115
Other income (expense)                                23           15        -1        14        7          9
Income before income taxes                            1,791        1,771     1,850     1,827     1,784      1,755
Provision for income taxes                            685          715       670       675       662        649
Net income from continuing operations                 1,106        1,056     1,180     1,152     1,122      1,106
Net income                                            1,106        1,056     1,180     1,152     1,122      1,106
Net income available to common shareholders           1,106        1,056     1,180     1,152     1,122      1,106
Basic                                                 1.83         1.77      1.99      1.96      1.91       1.88
Diluted                                               1.81         1.77      1.99      1.96      1.90       1.88
Weighted average shares outstanding                   0.00         0.00      0.00      0.00      0.00       0.00
Basic                                                 606          595       592       587       588        587
Diluted                                               611          596       594       589       589        588




 50,000
 45,000
 40,000
 35,000
 30,000
 25,000
 20,000
 15,000
 10,000
  5,000
      0
             2003-06           2005-06            2007-06            2009-06           2011-06             TTM

                       Revenue USD Mil                              Operating Income USD Mil
                       Net Income USD Mil

© By Dividend Yield - Stock, Capital, Investment
* Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books
                                                         -6-
The Dividend Idea
                                                 - By Dividend Yield - Stock, Capital, Investment -


Balance Sheet
Fiscal year ends in June. USD in millions except per share data.
                                                       2008-06                 2009-06      2010-06   2011-06   2012-06
Cash and cash equivalents                              552                     1,087        585       640       689
Receivables                                            2,723                   2,469        2,617     2,898     2,967
Inventories                                            1,836                   1,651        1,772     2,074     2,179
Fixtures and equipment                                 2,542                   2,642        2,855     3,173     3,478
Other properties                                       2,652                   2,818        2,983     3,227     3,511
Property and equipment, at cost                        5,464                   5,767        6,160     6,748     7,341
Accumulated Depreciation                               -2,575                  -2,788       -2,956    -3,236    -3,457
Property, plant and equipment, net                     2,890                   2,979        3,204     3,512     3,884
Goodwill                                               1,413                   1,511        1,550     1,633     1,666
Intangible assets                                      88                      121          106       110       114
Long-term debt                                         1,975                   2,467        2,473     2,280     2,764
Total non-current liabilities                          3,174                   3,617        3,477     3,105     3,986
Total liabilities                                      6,673                   6,767        6,486     6,680     7,410
Common stock                                           765                     765          765       765       765
Additional paid-in capital                             712                     760          817       888       939
Retained earnings                                      6,041                   6,540        7,134     7,682     8,175
Treasury stock                                         -4,041                  -4,338       -4,408    -4,369    -4,532
Accumulated other comprehensive income                 -69                     -278         -480      -260      -663
Total stockholders' equity                             3,409                   3,450        3,828     4,705     4,685
Total liabilities and stockholders' equity             10,082                  10,217       10,314    11,386    12,095




                                     45
                                     40
      Assets in % of Balance Sheet




                                     35
                                     30
                                     25
                                     20
                                     15
                                     10
                                     5
                                     0
                                          2003-06    2005-06      2007-06        2009-06          2011-06        TTM
                                               Cash & Short-Term Investments             Intangibles
                                               Short-Term Debt                           Long-Term Debt
                                               Total Stockholders' Equity

© By Dividend Yield - Stock, Capital, Investment
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                                                         -7-
The Dividend Idea
                          - By Dividend Yield - Stock, Capital, Investment -


Cash Flow Statement
Fiscal year ends in June. USD in millions except per share data.
                                                       2008-06 2009-06     2010-06   2011-06     2012-06   TTM

Net income                                             1,106    1,056      1,180     1,152       1,122     1,106
Depreciation & amortization                            373      382        390       403         417       438
Deferred income taxes                                  643      -294       -122      -165        -178      84
Net cash provided by operating activities              1,596    1,582      885       1,092       1,404     1,362
Net cash used for investing activities                 -556     -659       -656      -680        -904      -862
Long-term debt issued                                  0        507        7         186         563       631
Long-term debt repayment                               0        -10        -11       -9          -206      -205
Common stock issued                                    128      112        95        333         99        104
Repurchases of treasury stock                          -529     -439       -179      -292        -272      -141
Cash dividends paid                                    -497     -548       -580      -597        -623      -627
Net cash provided by (used for) financing activities   -699     -380       -667      -378        -443      -241
Net change in cash                                     344      536        -433      54          49        264
Cash at beginning of period                            208      552        1,019     585         640       284
Cash at end of period                                  552      1,087      585       640         689       548
Operating cash flow                                    1,596    1,582      885       1,092       1,404     1,362
Capital expenditure                                    -516     -465       -595      -636        -785      -714
Free cash flow                                         1,080    1,118      291       455         620       648
Cash paid for income taxes                             0        736        1,142     908         772       807
Cash paid for interest                                 0        109        127       119         114       115




  2,000

  1,500

  1,000

     500

        0
            2003-06            2005-06            2007-06          2009-06           2011-06               TTM
    -500

 -1,000

                    Operating Cash Flow USD Mil                   Cap Spending USD Mil
                    Free Cash Flow USD Mil

© By Dividend Yield - Stock, Capital, Investment
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                                                         -8-
The Dividend Idea
                          - By Dividend Yield - Stock, Capital, Investment -


Company                                         Ticker      Mcap         P/E         P/B         P/S    Yield
Sysco Corp.                                     SYY         18.60B       16.84       3.80        0.43   3.54%
United Natural Foods, Inc.                      UNFI        2.54B        27.83       2.59        0.49   -
Chefs' Warehouse Holdings LLC                   CHEF        331.85M      20.53       9.41        0.73   -
Spartan Stores Inc.                             SPTN        327.12M      10.52       1.00        0.12   2.13%
Nash Finch Co.                                  NAFC        258.90M      -           0.79        0.05   3.41%
AMCON Distributing Co.                          DIT         38.68M       6.54        0.72        0.03   1.17%
Crystal Rock Holdings, Inc.                     CRVP        20.31M       31.67       0.90        0.28   -




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  • 1. The Dividend Idea (A Snapshot of attractive Dividend Stocks) - By Dividend Yield - Stock, Capital, Investment - 48/2012(2012-12-01)
  • 2. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Content: 1. Summary 2. Price Facts 3. Long-Term Price Ratios And Margins 4. Income Statement 5. Balance Sheet 6. Cash Flow Statement 7. Peer-Fact Sheet © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -2-
  • 3. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Company Summary: Sysco Corporation (Sysco), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and re- lated services to approximately 400,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other food- service customers. Sysco provides food and related products to the foodser- vice or food-away-from-home industry. It has aggregated its operating com- panies into a number of segments, of which only Broadline and SYGMA are the main segments. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA oper- ating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations. In May 2011, it acquired Goldberg & Solovy Foods, Inc. (G&S). On October 3, 2012, the Company ac- quired Keelings Foods. 2.5 680 660 2 640 EPS Data in USD Shares in million 1.5 620 1 600 580 0.5 560 0 540 2003-06 2005-06 2007-06 2009-06 2011-06 TTM Earnings Per Share USD Dividends USD Shares Mil © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -3-
  • 4. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Price Facts NYSE:SYY Stock Price Estimated Value* Potential Rating Points** 31.65 36.00 13.74% 5/10 Size Category Sector Rating: Large Cap Value Services Hold Dividend Champion Industry Growth Food Wholesale P/E 16.84 # Yrs Dividend Growth 43 Fwd P/E 14.93 Dividend Growth Rate 1Y 4.00% P/S 0.43 Dividend Growth Rate 3Y 5.70% P/B 3.8 Dividend Growth Rate 5Y 8.90% Dividend Yield 3.54% Dividend Growth Rate 10Y 14.00% PEG 2.42 EPS Last 10 Years 16.41 PEG Payback 10.5 Dividends Paid Past 10Y 7.78 EV/EBITDA 8.42 Payout 57.0% Market Capitalization 18.6B Cash MRQ 550M EBITDA TTM 2.5B Debt MRQ 3.02B * Estimated By Morningstar ** Rated By StockScouter 32 16 8 4 2 1 0.5 0.25 06/04 06/06 06/08 06/10 06/12 AVG P/E PRICE/ SALES PRICE/ BOOK © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -4-
  • 5. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Margin Year AVG PRICE/ PRICE/ BOOK DEBT/ Operating Net Profit ROE in % ROA in % P/E SALES BOOK VALUE EQUITY Margin in % in % 06/12 15.1 0.41 3.73 8 0.64 4.50 2.60 23.89 9.30 06/11 15 0.47 3.95 7.95 0.57 4.90 2.90 27.00 10.10 06/10 13.9 0.45 4.35 6.5 0.65 5.30 3.20 32.43 11.40 06/09 14.3 0.37 3.93 5.85 0.72 5.10 2.90 30.79 10.40 06/08 17.2 0.46 4.98 5.67 0.58 5.00 2.90 33.08 11.00 06/07 20.8 0.59 6.16 5.36 0.54 4.90 2.90 31.63 10.50 06/06 23.6 0.59 6.2 4.93 0.58 4.60 2.60 29.44 9.40 06/05 23.5 0.78 8.26 3.41 0.62 5.20 3.20 36.12 11.20 06/04 25.9 0.79 8.64 0 0 5.20 3.10 38.10 0.00 06/03 24.5 0.75 8.66 0 0 5.10 3.00 35.95 0.00 Average 19.38 0.57 5.89 4.77 0.49 4.98 2.93 31.84 8.33 45 40 35 30 25 20 15 10 5 0 2003-06 2005-06 2007-06 2009-06 2011-06 TTM Gross Margin % Operating Margin % Return on Equity % Return on Invested Capital % © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -5-
  • 6. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Income Statement Fiscal year ends in June. USD in millions except per share data. 2008-06 2009-06 2010-06 2011-06 2012-06 TTM Revenue 37,522 36,853 37,243 39,323 42,381 42,881 Cost of revenue 30,327 29,817 30,136 32,002 34,704 35,149 Gross profit 7,195 7,036 7,107 7,321 7,677 7,733 Other operating expenses 0 5,164 5,132 5,390 5,786 5,872 Total operating expenses 5,315 5,164 5,132 5,390 5,786 5,872 Operating income 1,880 1,872 1,976 1,932 1,891 1,860 Interest Expense 112 116 125 118 113 115 Other income (expense) 23 15 -1 14 7 9 Income before income taxes 1,791 1,771 1,850 1,827 1,784 1,755 Provision for income taxes 685 715 670 675 662 649 Net income from continuing operations 1,106 1,056 1,180 1,152 1,122 1,106 Net income 1,106 1,056 1,180 1,152 1,122 1,106 Net income available to common shareholders 1,106 1,056 1,180 1,152 1,122 1,106 Basic 1.83 1.77 1.99 1.96 1.91 1.88 Diluted 1.81 1.77 1.99 1.96 1.90 1.88 Weighted average shares outstanding 0.00 0.00 0.00 0.00 0.00 0.00 Basic 606 595 592 587 588 587 Diluted 611 596 594 589 589 588 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2003-06 2005-06 2007-06 2009-06 2011-06 TTM Revenue USD Mil Operating Income USD Mil Net Income USD Mil © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -6-
  • 7. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Balance Sheet Fiscal year ends in June. USD in millions except per share data. 2008-06 2009-06 2010-06 2011-06 2012-06 Cash and cash equivalents 552 1,087 585 640 689 Receivables 2,723 2,469 2,617 2,898 2,967 Inventories 1,836 1,651 1,772 2,074 2,179 Fixtures and equipment 2,542 2,642 2,855 3,173 3,478 Other properties 2,652 2,818 2,983 3,227 3,511 Property and equipment, at cost 5,464 5,767 6,160 6,748 7,341 Accumulated Depreciation -2,575 -2,788 -2,956 -3,236 -3,457 Property, plant and equipment, net 2,890 2,979 3,204 3,512 3,884 Goodwill 1,413 1,511 1,550 1,633 1,666 Intangible assets 88 121 106 110 114 Long-term debt 1,975 2,467 2,473 2,280 2,764 Total non-current liabilities 3,174 3,617 3,477 3,105 3,986 Total liabilities 6,673 6,767 6,486 6,680 7,410 Common stock 765 765 765 765 765 Additional paid-in capital 712 760 817 888 939 Retained earnings 6,041 6,540 7,134 7,682 8,175 Treasury stock -4,041 -4,338 -4,408 -4,369 -4,532 Accumulated other comprehensive income -69 -278 -480 -260 -663 Total stockholders' equity 3,409 3,450 3,828 4,705 4,685 Total liabilities and stockholders' equity 10,082 10,217 10,314 11,386 12,095 45 40 Assets in % of Balance Sheet 35 30 25 20 15 10 5 0 2003-06 2005-06 2007-06 2009-06 2011-06 TTM Cash & Short-Term Investments Intangibles Short-Term Debt Long-Term Debt Total Stockholders' Equity © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -7-
  • 8. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Cash Flow Statement Fiscal year ends in June. USD in millions except per share data. 2008-06 2009-06 2010-06 2011-06 2012-06 TTM Net income 1,106 1,056 1,180 1,152 1,122 1,106 Depreciation & amortization 373 382 390 403 417 438 Deferred income taxes 643 -294 -122 -165 -178 84 Net cash provided by operating activities 1,596 1,582 885 1,092 1,404 1,362 Net cash used for investing activities -556 -659 -656 -680 -904 -862 Long-term debt issued 0 507 7 186 563 631 Long-term debt repayment 0 -10 -11 -9 -206 -205 Common stock issued 128 112 95 333 99 104 Repurchases of treasury stock -529 -439 -179 -292 -272 -141 Cash dividends paid -497 -548 -580 -597 -623 -627 Net cash provided by (used for) financing activities -699 -380 -667 -378 -443 -241 Net change in cash 344 536 -433 54 49 264 Cash at beginning of period 208 552 1,019 585 640 284 Cash at end of period 552 1,087 585 640 689 548 Operating cash flow 1,596 1,582 885 1,092 1,404 1,362 Capital expenditure -516 -465 -595 -636 -785 -714 Free cash flow 1,080 1,118 291 455 620 648 Cash paid for income taxes 0 736 1,142 908 772 807 Cash paid for interest 0 109 127 119 114 115 2,000 1,500 1,000 500 0 2003-06 2005-06 2007-06 2009-06 2011-06 TTM -500 -1,000 Operating Cash Flow USD Mil Cap Spending USD Mil Free Cash Flow USD Mil © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -8-
  • 9. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment - Company Ticker Mcap P/E P/B P/S Yield Sysco Corp. SYY 18.60B 16.84 3.80 0.43 3.54% United Natural Foods, Inc. UNFI 2.54B 27.83 2.59 0.49 - Chefs' Warehouse Holdings LLC CHEF 331.85M 20.53 9.41 0.73 - Spartan Stores Inc. SPTN 327.12M 10.52 1.00 0.12 2.13% Nash Finch Co. NAFC 258.90M - 0.79 0.05 3.41% AMCON Distributing Co. DIT 38.68M 6.54 0.72 0.03 1.17% Crystal Rock Holdings, Inc. CRVP 20.31M 31.67 0.90 0.28 - © By Dividend Yield - Stock, Capital, Investment * Subscribe this Report per Mail and Get additional Fact Books here: Dividend Yield Fact Books -9-
  • 10. The Dividend Idea - By Dividend Yield - Stock, Capital, Investment -