Synaptics Incorporated (SYNA)

Operating 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
Operating income (ttm)	US$ in thousands	-94,100	-65,600	-48,300	-51,000	-75,800	-100,100	-56,900	7,100	154,300	316,900	370,800	402,300	350,900	277,200	220,700	201,600	147,000	108,300	95,700	71,700
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
Operating profit margin		-8.76%	-6.31%	-4.78%	-5.21%	-7.90%	-10.66%	-5.53%	0.62%	11.39%	19.75%	21.22%	22.16%	20.17%	17.42%	15.25%	14.57%	10.97%	8.40%	7.41%	5.42%

June 30, 2025 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-94,100K ÷ $1,074,300K
= -8.76%

The operating profit margin of Synaptics Incorporated exhibited a notable upward trajectory from September 30, 2020, through September 30, 2022. Starting at 5.42% in September 2020, the margin progressively increased, reflecting improved profitability and efficient cost management. It reached a peak of 22.16% during the third quarter of 2022, indicating a period of robust operational performance.

However, from December 31, 2022, onward, the operating profit margin demonstrated a declining trend. By March 31, 2023, the margin had decreased to 19.75%, and this downward movement accelerated significantly in subsequent periods. The margin turned negative for the first time on December 31, 2023, at -5.53%, signaling that operating expenses exceeded revenues. This negative trajectory persisted through subsequent quarters, with the margin declining further to -10.66% by March 31, 2024, and remaining negative in subsequent periods, albeit with some slight fluctuations.

Overall, the data suggest that Synaptics experienced a period of strong operational profitability through early to late 2022, followed by a substantial deterioration into sustained losses from the end of 2022 onward. The declining trend indicates potential challenges in maintaining profitability, possibly due to changes in market conditions, increased costs, or other operational factors impacting the company's ability to generate operating income.