Synaptics Incorporated (SYNA)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	966,900	967,700	968,700	969,600	972,000	972,900	973,900	974,800	975,700	982,600	983,500	394,500	394,400	394,400	100,000	100,000	100,000	482,000	477,400	472,800
Total stockholders’ equity	US$ in thousands	1,466,800	1,235,400	1,220,300	1,204,300	1,243,400	1,321,100	1,300,400	1,325,100	1,266,400	1,157,700	1,063,900	1,001,400	967,200	932,600	888,000	838,700	819,100	712,900	691,300	654,800
Debt-to-capital ratio		0.40	0.44	0.44	0.45	0.44	0.42	0.43	0.42	0.44	0.46	0.48	0.28	0.29	0.30	0.10	0.11	0.11	0.40	0.41	0.42

June 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $966,900K ÷ ($966,900K + $1,466,800K)
= 0.40

The debt-to-capital ratio of Synaptics Incorporated has fluctuated over the past five years, indicating varying levels of financial leverage. The ratio has shown an increasing trend from December 2019 to March 2022, peaking at 0.48 in March 2022. This suggests that the company relied more on debt to fund its operations and growth during this period.

However, starting from September 2022, the debt-to-capital ratio began to decrease, reaching a low of 0.10 in December 2020. This decrease may indicate that Synaptics has been reducing its reliance on debt financing and improving its capital structure.

Despite the decrease in the ratio in recent periods, it has shown some volatility, with fluctuations observed from quarter to quarter. As of June 30, 2024, the debt-to-capital ratio stands at 0.40, indicating that approximately 40% of Synaptics' capital structure is funded by debt.

Overall, the varying levels of the debt-to-capital ratio over the past years suggest that Synaptics has been actively managing its debt levels and capital structure to balance financial leverage and maintain financial stability. Investors and stakeholders may monitor this ratio closely to assess the company's ability to meet its financial obligations and sustain its growth in the long term.