Synaptics Incorporated (SYNA)

Working capital 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 current assets	US$ in thousands	1,162,300	1,272,000	1,403,400	1,179,700	1,077,600
Total current liabilities	US$ in thousands	277,200	260,100	463,400	786,700	244,100
Working capital turnover		1.01	1.28	1.82	3.34	1.70

June 30, 2024 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $894,100K ÷ ($1,162,300K – $277,200K)
= 1.01

The working capital turnover ratio for Synaptics Incorporated has been fluctuating over the past five years. In 2024, the ratio stood at 1.01, indicating that the company generated $1.01 in revenue for every dollar of working capital invested. This was a decrease from the previous year's ratio of 1.28.

Looking further back, the working capital turnover ratio was higher in 2022 at 1.82, suggesting that Synaptics was more efficient in utilizing its working capital to generate revenue compared to the most recent year. The peak performance in recent years was seen in 2021 with a ratio of 3.34, indicating a significant improvement in working capital efficiency.

However, in 2020, the ratio dropped to 1.70, showing a decrease in working capital efficiency compared to the prior year. Overall, the trend in working capital turnover for Synaptics Incorporated has been mixed, with fluctuations indicating varying levels of efficiency in utilizing working capital to generate revenue over the past five years.