Synaptics Incorporated (SYNA)

Payables turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	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
Cost of revenue (ttm)	US$ in thousands	593,900	570,500	546,700	529,700	523,500	511,700	539,000	577,400	639,200	723,400	785,400	814,400	796,600	743,300	697,300	709,100	728,400	727,000	749,200	771,000
Payables	US$ in thousands	98,500	90,000	84,000	83,300	87,500	70,900	83,000	63,900	45,800	60,800	82,700	125,000	141,800	135,600	134,500	109,700	97,600	106,900	74,400	77,200
Payables turnover		6.03	6.34	6.51	6.36	5.98	7.22	6.49	9.04	13.96	11.90	9.50	6.52	5.62	5.48	5.18	6.46	7.46	6.80	10.07	9.99

June 30, 2025 calculation

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

The payables turnover ratio for Synaptics Incorporated demonstrates notable fluctuations over the analyzed period from September 2020 through June 2025. Early in the period, the ratio was relatively high, with values near 10. indicating a brisk payment activity to suppliers, as seen with ratios of 9.99 in September 2020 and 10.07 in December 2020. These elevated ratios suggest efficient management of accounts payable and possibly favorable credit terms extended by suppliers.

Subsequently, there is a noticeable decline starting in March 2021, where the ratio drops to 6.80, marking a reduction in payment frequency or a lengthening of the accounts payable period. This downward trend continues into subsequent quarters, with the ratio reaching as low as 5.18 in December 2021, indicative of potentially more prolonged payment periods or changes in supplier payment terms.

From late 2021 onward, the ratio displays some recovery, rising to 11.90 in March 2023, signaling an increase in payment activity or a shortening of payable periods. This peak may reflect adjustments in company liquidity management or shifts in operational or supply chain strategies.

After the peak, the ratio again declines, reaching 6.49 in December 2023 and fluctuating in the subsequent quarters, with values around 7.22 in March 2024 and stabilizing near 6.03 to 6.36 through mid-2025. These lower ratios in recent periods could imply extended payment cycles, possibly due to strategic supplier negotiations, cash flow considerations, or supply chain financing arrangements.

Overall, the trend indicates variability in Synaptics Incorporated's accounts payable management, with periods of both rapid settlement and extended payment terms. These fluctuations may reflect internal strategic decisions, external market conditions, or changes in supplier relationships affecting the company's payable practices over time.