Synaptics Incorporated (SYNA)

Payables turnover

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Cost of revenue	US$ in thousands	593,900	519,600	639,200	796,600	728,400
Payables	US$ in thousands	98,500	87,500	45,800	141,800	97,600
Payables turnover		6.03	5.94	13.96	5.62	7.46

June 30, 2025 calculation

Payables turnover = Cost of revenue ÷ Payables
= $593,900K ÷ $98,500K
= 6.03

The payables turnover ratio for Synaptics Incorporated demonstrates notable fluctuations over the analyzed period from June 30, 2021, through June 30, 2025. At the end of fiscal year 2021, the ratio stood at 7.46, indicating the company’s payables were turned over approximately 7.46 times during the year. This ratio declined significantly in fiscal year 2022 to 5.62, suggesting a lengthening of the days payable outstanding, which could imply the company was taking longer to pay its suppliers or possibly experiencing tighter liquidity or changes in payment strategies.

In fiscal year 2023, a considerable increase was observed, with the ratio rising sharply to 13.96, nearly doubling from the previous year. This substantial increase indicates a faster repayment cycle to suppliers, reflecting either improved cash flows, strategic payment timing, or operational efficiencies. The subsequent year, fiscal year 2024, shows a decrease to 5.94, returning toward the earlier lower levels and suggesting a lengthening of payables again, which could point to changes in payment policies or cash management practices.

By fiscal year 2025, the ratio saw a modest increase to 6.03, indicating a slight shortening of the payable period compared to 2024 but still remaining below the peak observed in 2023. This pattern of fluctuation hints at variability in how the company manages its accounts payable process, possibly influenced by operational, strategic, or liquidity considerations. Overall, the data reflects a period of inconsistency in payables management, with a notable peak in overall payables turnover in 2023 and fluctuations in subsequent years that merit further investigation into underlying operational or financial strategies.