Synaptics Incorporated (SYNA)

Total asset turnover

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Revenue	US$ in thousands	894,100	1,297,900	1,714,400	1,312,600	1,417,300
Total assets	US$ in thousands	2,825,000	2,611,400	2,858,100	2,226,800	1,693,800
Total asset turnover		0.32	0.50	0.60	0.59	0.84

June 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $894,100K ÷ $2,825,000K
= 0.32

The total asset turnover for Synaptics Incorporated has shown a declining trend over the past five years, decreasing from 0.84 in June 2020 to 0.32 in June 2024. This indicates that the company's ability to generate revenue from its total assets has weakened over time. A total asset turnover ratio of 0.32 in June 2024 suggests that for every dollar of total assets, the company generated $0.32 of revenue.

A declining total asset turnover could be attributed to various factors such as inefficient asset utilization, declining sales, or an increase in total assets without a corresponding increase in revenue. It is essential for the company to assess and improve its asset management efficiency to enhance its overall performance and profitability. Additionally, stakeholders should closely monitor this ratio as it provides insights into the company's operational efficiency and effectiveness in utilizing its assets to generate sales.