Synaptics Incorporated (SYNA)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	480,400	468,400	462,900	449,700	435,900	427,600	489,600	567,300	715,900	880,800	962,300	1,000,700	943,100	847,800	749,500	674,800	611,200	562,400	542,500	551,400
Revenue (ttm)	US$ in thousands	1,074,300	1,038,900	1,009,600	979,400	959,400	939,300	1,028,600	1,144,700	1,355,100	1,604,200	1,747,700	1,815,100	1,739,700	1,591,100	1,446,800	1,383,900	1,339,600	1,289,400	1,291,700	1,322,400
Gross profit margin		44.72%	45.09%	45.85%	45.92%	45.43%	45.52%	47.60%	49.56%	52.83%	54.91%	55.06%	55.13%	54.21%	53.28%	51.80%	48.76%	45.63%	43.62%	42.00%	41.70%

June 30, 2025 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $480,400K ÷ $1,074,300K
= 44.72%

The gross profit margin of Synaptics Incorporated has demonstrated a generally increasing trend from September 30, 2020, through the first quarter of 2023, indicating an improvement in the company's ability to generate profit from its core operations. Starting at approximately 41.70% in September 2020, the margin gradually rose over the subsequent periods, reaching a peak of approximately 55.13% as of September 30, 2022.

This upward movement reflects enhanced profitability, potentially driven by factors such as improved cost management, higher sales prices, product mix shifts favoring higher-margin offerings, or operational efficiencies. The period from September 2020 to September 2022 signifies a period of strategic strength and margin expansion.

However, after reaching its peak in late 2022, the gross profit margin exhibits a declining trend. By December 31, 2022, it decreased slightly to approximately 55.06%, and this downward trajectory persisted into 2023. As of September 30, 2023, the gross profit margin had fallen to approximately 49.56%, approaching pre-2021 levels. This decline suggests potential challenges such as increased costs, pricing pressures, changing product mix, or competitive dynamics.

In the most recent periods, the margin has stabilized somewhat, maintaining levels around mid-40s (approximately 45–46%), with slight fluctuations through June 2025. This stabilization could indicate a new operational equilibrium or the impact of strategic adjustments to sustain profitability amidst market or cost environment changes.

Overall, the gross profit margin trend indicates a period of growth and profitability enhancement followed by a moderation or contraction phase, reflecting evolving operational conditions and strategic responses by the company.