Synaptics Incorporated (SYNA)

Fixed asset turnover

		Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Revenue (ttm)	US$ in thousands	894,300	872,400	962,300	1,082,700	1,299,300	1,559,400	1,709,700	1,780,700	1,705,000	1,548,600	1,408,800	1,350,000	1,311,600	1,386,300	1,388,600	1,419,300	1,430,800	1,330,700	1,336,600	1,373,800
Property, plant and equipment	US$ in thousands	75,500	74,000	71,000	67,400	66,400	69,000	65,900	63,400	62,900	63,100	56,900	92,100	91,200	95,300	93,600	90,500	84,300	83,400	87,700	98,800
Fixed asset turnover		11.85	11.79	13.55	16.06	19.57	22.60	25.94	28.09	27.11	24.54	24.76	14.66	14.38	14.55	14.84	15.68	16.97	15.96	15.24	13.90

June 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $894,300K ÷ $75,500K
= 11.85

The fixed asset turnover ratio for Synaptics Incorporated has demonstrated a fluctuating trend over the past several quarters, ranging from a low of 11.79 to a high of 28.09. The ratio measures how efficiently the company utilizes its fixed assets to generate sales revenue.

During the earlier quarters, the company seemed to be utilizing its fixed assets efficiently, as reflected by higher turnover ratios above 20. However, in the most recent quarters, the ratio has decreased significantly, indicating a potential decline in the efficiency of fixed asset utilization.

A high fixed asset turnover ratio typically indicates effective asset utilization and productivity, whereas a declining ratio might suggest underutilization or inefficiency in managing fixed assets. It is essential for Synaptics to closely monitor and assess its fixed asset management strategies to improve operational efficiency and profitability in the future.