Synaptics Incorporated (SYNA)

Inventory 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
Cost of revenue (ttm)	US$ in thousands	758,000	740,500	783,100	836,800	892,000	967,700	1,048,400	1,081,400	1,060,900	1,002,400	929,000	902,300	873,400	880,300	837,300	874,900	894,700	938,000	1,015,800	1,062,300
Inventory	US$ in thousands	114,000	114,100	125,100	131,700	137,200	147,800	177,500	179,400	169,700	145,900	133,300	88,700	82,000	69,300	73,100	114,600	102,000	95,500	82,100	138,200
Inventory turnover		6.65	6.49	6.26	6.35	6.50	6.55	5.91	6.03	6.25	6.87	6.97	10.17	10.65	12.70	11.45	7.63	8.77	9.82	12.37	7.69

June 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $758,000K ÷ $114,000K
= 6.65

Inventory turnover, a key efficiency ratio, measures how many times a company sells and replaces its inventory during a specific period. Synaptics Incorporated's inventory turnover has fluctuated over the past several quarters, ranging from a low of 5.91 to a high of 12.70.

The trend indicates some variations in managing inventory levels. Generally, a higher turnover implies that the company is efficiently managing its inventory, converting it into sales quickly. In contrast, a lower turnover can imply excess inventory or slow sales.

In the most recent quarter, Jun 30, 2024, Synaptics' inventory turnover was 6.65, relatively consistent with its historical performance. However, it is important to monitor this ratio over time to assess any significant changes and evaluate the company's inventory management efficiency effectively.