Synaptics Incorporated (SYNA)

Gross profit margin

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Gross profit (ttm)	US$ in thousands	439,800	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	543,100	511,500	491,900	482,400
Revenue (ttm)	US$ in thousands	894,300	872,400	962,300	1,082,700	1,299,300	1,559,400	1,709,700	1,780,700	1,705,000	1,548,600	1,408,800	1,350,000	1,311,600	1,386,300	1,388,600	1,419,300	1,430,800	1,330,700	1,336,600	1,373,800
Gross profit margin		49.18%	49.01%	50.88%	52.40%	55.10%	56.48%	56.28%	56.20%	55.31%	54.75%	53.20%	49.99%	46.60%	40.57%	39.07%	38.85%	37.96%	38.44%	36.80%	35.11%

June 30, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $439,800K ÷ $894,300K
= 49.18%

Synaptics Incorporated has shown fluctuations in its gross profit margin over the past few quarters. The gross profit margin has generally been above 50% in recent quarters, indicating the company's ability to efficiently generate profits from its sales after accounting for the cost of goods sold.

The gross profit margin was highest at 56.48% in March 2023 and lowest at 35.11% in September 2019. The declining trend from 2019 to 2021 showed some instability in the company's cost structure or pricing strategy. However, the margin has improved since then, with a noticeable increase from 49.99% in December 2021 to 49.18% in June 2024.

The company may have implemented cost-saving measures, increased selling prices, or introduced more profitable product lines to enhance its gross profit margin. Investors and stakeholders should continue to monitor Synaptics' gross profit margin along with other financial metrics to assess the overall financial health and operational efficiency of the company.