Revenue growth of 10.4% in 2026Q3 highlights a cyclical recovery, yet structural profitability remains elusive with operating margins lingering at -4.3%.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 |
|---|
| Sales/Revenue | 1.17B | 1.07B | 959.4M | 1.36B | 1.74B | 1.34B | 1.33B | 1.47B | 1.63B | 1.72B | 1.67B | 1.7B | 947.5M | 663.6M | 548.23M | 598.54M | 514.89M | 473.3M | 361.06M | 266.79M | 184.56M | 208.14M | 133.28M | 100.7M | 100.2M | 73.7M | 0 |
| Revenue Growth % | 12.81% | 11.98% | -29.2% | -22.11% | 29.87% | 0.43% | -9.39% | -9.7% | -5.12% | 3.08% | -2.12% | 79.74% | 42.78% | 21.04% | -8.41% | 16.25% | 8.79% | 31.09% | 35.34% | 44.56% | -11.33% | 56.17% | 32.35% | 0.5% | 35.96% | - | - |
| Cost of Goods Sold | 660.9M | 593.9M | 519.6M | 639.2M | 796.6M | 728.4M | 790.8M | 975.1M | 1.15B | 1.19B | 1.09B | 1.12B | 511.4M | 337.8M | 292.66M | 352.47M | 306.19M | 281.79M | 213.61M | 160.91M | 101.7M | 112.09M | 77.24M | 58.42M | 59.02M | 50.81M | 25.65M |
| COGS % of Revenue | - | 55.28% | 54.16% | 47.17% | 45.79% | 54.37% | 59.28% | 66.23% | 70.55% | 69.53% | 65.11% | 66.02% | 53.97% | 50.9% | 53.38% | 58.89% | 59.47% | 59.54% | 59.16% | 60.32% | 55.11% | 53.85% | 57.96% | 58.01% | 58.9% | 68.94% | - |
| Gross Profit | 511.1M | 480.4M | 439.8M | 715.9M | 943.1M | 611.2M | 543.1M | 497.1M | 480.1M | 523.6M | 581.5M | 578.7M | 436.1M | 325.8M | 255.57M | 246.07M | 208.7M | 191.51M | 147.45M | 105.87M | 82.85M | 96.05M | 56.03M | 42.28M | 41.19M | 22.89M | -25.65M |
| Gross Margin % | 43.61% | 44.72% | 45.84% | 52.83% | 54.21% | 45.63% | 40.72% | 33.77% | 29.45% | 30.47% | 34.89% | 33.98% | 46.03% | 49.1% | 46.62% | 41.11% | 40.53% | 40.46% | 40.84% | 39.68% | 44.89% | 46.15% | 42.04% | 41.99% | 41.1% | 31.06% | - |
| Gross Profit Growth % | - | 9.23% | -38.57% | -24.09% | 54.3% | 12.54% | 9.25% | 3.54% | -8.31% | -9.96% | 0.48% | 32.7% | 33.86% | 27.48% | 3.86% | 17.9% | 8.98% | 29.88% | 39.27% | 27.79% | -13.74% | 71.42% | 32.51% | 2.67% | 79.95% | 189.22% | - |
| Operating Expenses | 586.3M | 574.5M | 541.4M | 561.6M | 592.7M | 464.2M | 474.2M | 503.4M | 542M | 458.9M | 506.3M | 416.5M | 363.6M | 225.1M | 188M | 173.55M | 146.58M | 122.04M | 98.22M | 75.63M | 63.38M | 96.05M | 56.03M | 42.28M | 41.19M | 22.89M | 17.34M |
| OpEx % of Revenue | - | 53.48% | 56.43% | 41.44% | 34.07% | 34.65% | 35.55% | 34.19% | 33.25% | 26.71% | 30.37% | 24.46% | 38.37% | 33.92% | 34.29% | 29% | 28.47% | 25.78% | 27.2% | 28.35% | 34.34% | 46.15% | 42.04% | 41.99% | 41.1% | 31.06% | - |
| Selling, General & Admin | 97.4M | 180.3M | 161.3M | 175M | 168.4M | 144.9M | 127M | 129.8M | 137.6M | 137.6M | 161.7M | 127.9M | 100M | 79.52M | 70.05M | 68.55M | 60.03M | 54.01M | 48.13M | 36.25M | 28.02M | 18.42M | 13.57M | 10.75M | 9.87M | 9.11M | 7.41M |
| SG&A % of Revenue | - | 16.78% | 16.81% | 12.91% | 9.68% | 10.82% | 9.52% | 8.82% | 8.44% | 8.01% | 9.7% | 7.51% | 10.55% | 11.98% | 12.78% | 11.45% | 11.66% | 11.41% | 13.33% | 13.59% | 15.18% | 8.85% | 10.18% | 10.68% | 9.85% | 12.36% | - |
| Research & Development | 377.6M | 346.8M | 336.3M | 351.2M | 367.3M | 313.4M | 302.5M | 341.1M | 363.2M | 292.3M | 311.2M | 293.2M | 192.7M | 144.7M | 117.95M | 105M | 86.55M | 68.03M | 50.09M | 39.39M | 35.36M | 24.99M | 21.42M | 19.84M | 16.59M | 11.59M | 8.39M |
| R&D % of Revenue | - | 32.28% | 35.05% | 25.92% | 21.11% | 23.39% | 22.68% | 23.17% | 22.28% | 17.01% | 18.67% | 17.22% | 20.34% | 21.81% | 21.52% | 17.54% | 16.81% | 14.37% | 13.87% | 14.76% | 19.16% | 12.01% | 16.07% | 19.7% | 16.56% | 15.73% | - |
| Other Operating Expenses | 4M | 47.4M | 43.8M | 35.4M | 57M | 5.9M | 44.7M | 32.5M | 29M | 29M | 33.4M | -4.6M | 70.9M | 881K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.95M | 949K | 556K | 14.72M | 2.19M | 1.54M |
| Operating Income | -75.2M | -94.1M | -101.6M | 154.3M | 350.4M | 147M | 68.9M | -6.3M | -49.9M | 64.7M | 75.2M | 162.16M | 72.5M | 100.7M | 67.57M | 72.52M | 62.12M | 69.47M | 49.23M | 30.24M | 19.48M | 56.11M | 20.52M | 11.16M | 14.13M | 810K | -42.99M |
| Operating Margin % | -6.42% | -8.76% | -10.59% | 11.39% | 20.14% | 10.97% | 5.17% | -0.43% | -3.06% | 3.77% | 4.51% | 9.52% | 7.65% | 15.17% | 12.32% | 12.12% | 12.07% | 14.68% | 13.64% | 11.34% | 10.55% | 26.96% | 15.4% | 11.08% | 14.1% | 1.1% | - |
| Operating Income Growth % | - | 7.38% | -165.85% | -55.96% | 138.37% | 113.35% | 1193.65% | 87.37% | -177.13% | -13.96% | -53.63% | 123.67% | -28% | 49.04% | -6.83% | 16.73% | -10.57% | 41.11% | 62.8% | 55.26% | -65.28% | 173.36% | 83.95% | -21.04% | 1644.57% | 101.88% | - |
| EBITDA | 50.2M | 49M | 7.6M | 312.1M | 497.9M | 287.3M | 147M | 103.7M | 72.9M | 157.2M | 179.4M | 274.56M | 94.14M | 111.55M | 77.98M | 83.69M | 70.8M | 75.81M | 53.03M | 32.59M | 21.13M | 57.98M | 22.05M | 13.17M | 15.9M | 2.47M | -42.38M |
| EBITDA Margin % | 4.28% | 4.56% | 0.79% | 23.03% | 28.62% | 21.45% | 11.02% | 7.04% | 4.47% | 9.15% | 10.76% | 16.12% | 9.94% | 16.81% | 14.22% | 13.98% | 13.75% | 16.02% | 14.69% | 12.22% | 11.45% | 27.86% | 16.55% | 13.08% | 15.87% | 3.35% | - |
| EBITDA Growth % | 70.17% | 544.74% | -97.56% | -37.32% | 73.3% | 95.44% | 41.76% | 42.25% | -53.63% | -12.37% | -34.66% | 191.67% | -15.61% | 43.05% | -6.82% | 18.2% | -6.6% | 42.95% | 62.72% | 54.25% | -63.56% | 162.9% | 67.43% | -17.15% | 543.72% | 105.83% | - |
| D&A (Non-Cash Add-back) | 125.4M | 143.1M | 109.2M | 157.8M | 147.5M | 140.3M | 78.1M | 110M | 122.8M | 92.5M | 104.2M | 112.4M | 21.64M | 10.85M | 10.41M | 11.17M | 8.68M | 6.34M | 3.8M | 2.35M | 1.65M | 1.88M | 1.53M | 2.02M | 1.77M | 1.66M | 605K |
| EBIT | -72.7M | -73.7M | -59.3M | 181.5M | 350.7M | 149.6M | 181.9M | 400K | -59.6M | 67.3M | 80.4M | 164M | 74.5M | 101.7M | 67.57M | 73.49M | 62.66M | 62.4M | 50.61M | 40.38M | 19.48M | 56.11M | 20.52M | 11.16M | 14.13M | 810K | -42.99M |
| Net Interest Income | -2M | -12.9M | -23M | -28.3M | -27.2M | -26.6M | -14.6M | -17.3M | -19.9M | -5.3M | -1.7M | -2.2M | 2M | 1M | 905K | 894K | -1.42M | -3.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 26.9M | 42.3M | 27.2M | 3M | 2.9M | 7.9M | 3.9M | 2.3M | 700K | 3.1M | 1.6M | 2M | 1M | 922K | 911K | 977K | 3.22M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2M | 39.8M | 65.3M | 55.5M | 30.2M | 29.5M | 22.5M | 21.2M | 22.2M | 6M | 4.8M | 3.8M | 0 | 0 | 17K | 17K | 2.4M | 7.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -6M | -19.4M | -23M | -28.3M | -28.3M | -36M | 90.5M | -14.5M | -31.9M | -3.4M | 400K | -1.96M | 1.96M | 1M | 982K | 953K | -1.87M | -3.66M | -444K | 8.19M | 6.04M | 2.23M | 401K | 904K | 325K | 180K | 0 |
| Pretax Income | -81.2M | -113.5M | -124.6M | 126M | 322.1M | 111M | 159.4M | -20.8M | -81.8M | 61.3M | 75.6M | 160.2M | 74.46M | 101.7M | 68.55M | 73.47M | 60.26M | 65.81M | 48.79M | 38.43M | 25.52M | 58.33M | 20.93M | 12.06M | 14.46M | 990K | -42.99M |
| Pretax Margin % | -6.93% | -10.56% | -12.99% | 9.3% | 18.51% | 8.29% | 11.95% | -1.41% | -5.02% | 3.57% | 4.54% | 9.41% | 7.86% | 15.33% | 12.5% | 12.28% | 11.7% | 13.9% | 13.51% | 14.41% | 13.83% | 28.03% | 15.7% | 11.98% | 14.43% | 1.34% | - |
| Income Tax | -33.1M | -65.7M | -250.2M | 52.4M | 64.6M | 31.4M | 38.6M | 300K | 40.5M | 12.2M | 3.4M | 49.8M | 27.77M | 2.8M | 14.41M | 9.68M | 7.29M | 11.49M | 17.69M | 11.9M | 11.82M | 20.35M | 7.93M | 4.34M | 5.06M | 180K | -40.98M |
| Effective Tax Rate % | 40.76% | 57.89% | 200.8% | 41.59% | 20.06% | 28.29% | 24.22% | -1.44% | -49.51% | 19.9% | 4.5% | 31.09% | 37.3% | 2.75% | 21.02% | 13.17% | 12.1% | 17.45% | 36.25% | 30.96% | 46.32% | 34.88% | 37.91% | 36.01% | 34.98% | 18.18% | 95.33% |
| Net Income | -48.1M | -47.8M | 125.6M | 73.6M | 257.5M | 79.6M | 118.8M | -22.9M | -124.1M | 48.8M | 72.2M | 110.4M | 46.69M | 98.9M | 54.14M | 63.8M | 52.97M | 54.32M | 31.1M | 26.53M | 13.7M | 37.98M | 12.99M | 7.72M | 9.4M | 810K | -2.01M |
| Net Margin % | -4.1% | -4.45% | 13.09% | 5.43% | 14.8% | 5.94% | 8.91% | -1.56% | -7.61% | 2.84% | 4.33% | 6.48% | 4.93% | 14.9% | 9.88% | 10.66% | 10.29% | 11.48% | 8.61% | 9.95% | 7.42% | 18.25% | 9.75% | 7.66% | 9.38% | 1.1% | - |
| Net Income Growth % | -129.12% | -138.06% | 70.65% | -71.42% | 223.49% | -33% | 618.78% | 81.55% | -354.3% | -32.41% | -34.6% | 136.46% | -52.79% | 82.66% | -15.13% | 20.45% | -2.5% | 74.68% | 17.21% | 93.66% | -63.93% | 192.37% | 68.33% | -17.89% | 1060.49% | 140.36% | - |
| Net Income (Continuing) | -48.1M | -47.8M | 125.6M | 73.6M | 257.5M | 79.6M | 120.8M | -21.1M | -122.3M | 49.1M | 72.2M | 110.4M | 46.69M | 98.9M | 54.14M | 63.8M | 52.97M | 54.32M | 31.1M | 26.53M | 13.7M | 37.98M | 12.99M | 7.72M | 9.4M | 810K | -2.01M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.24 | -1.22 | 3.16 | 1.83 | 6.33 | 2.08 | 3.41 | -0.66 | -3.63 | 1.37 | 1.91 | 2.89 | 1.26 | 2.89 | 1.57 | 1.80 | 1.50 | 1.53 | 0.79 | 0.63 | 0.34 | 0.87 | 0.32 | 0.21 | 0.28 | 0.03 | -0.07 |
| EPS Growth % | -129.82% | -138.61% | 72.68% | -71.09% | 204.33% | -39% | 616.67% | 81.82% | -364.96% | -28.27% | -33.91% | 129.37% | -56.4% | 84.08% | -12.78% | 20% | -1.96% | 93.67% | 25.4% | 85.29% | -60.92% | 171.88% | 52.38% | -25% | 948.69% | 139.32% | - |
| EPS (Basic) | - | -1.22 | 3.20 | 1.86 | 6.60 | 2.29 | 3.54 | -0.66 | -3.63 | 1.40 | 1.97 | 3.04 | 1.34 | 3.03 | 1.64 | 1.87 | 1.57 | 1.60 | 0.83 | 0.69 | 0.37 | 0.99 | 0.35 | 0.22 | 0.47 | 0.09 | -0.26 |
| Diluted Shares Outstanding | 38.8M | 39.3M | 39.7M | 40.2M | 40.7M | 38.3M | 34.8M | 34.6M | 34.2M | 35.6M | 37.9M | 38.89M | 37.1M | 34.24M | 34.44M | 35.45M | 35.42M | 35.58M | 39.37M | 43.6M | 43.61M | 44.64M | 40.66M | 37.7M | 33.82M | 29.82M | 29.57M |
| Basic Shares Outstanding | 38.8M | 39.3M | 39.2M | 39.6M | 39M | 34.8M | 33.6M | 34.6M | 34.19M | 34.8M | 36.6M | 36.9M | 34.76M | 32.66M | 33.03M | 34.04M | 33.84M | 33.98M | 37.67M | 38.34M | 37.06M | 38.6M | 36.63M | 35.21M | 20.29M | 29.82M | 7.83M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent Operating Margin Deficit
According to recent financial disclosures, Synaptics has achieved a consistent revenue growth trajectory, with the most recent quarter reporting a 10.4% year-over-year increase, suggesting that the company is successfully navigating the broader semiconductor industry's inventory normalization phase while pivoting toward higher-value IoT and automotive end-markets.
The steady climb in quarterly revenue from $237.0M in 2024Q2 to $294.2M in 2026Q3 indicates that the company's strategic shift toward specialized IoT applications is gaining traction. Investors should monitor whether this growth is sustainable or merely a reflection of recovering demand in the enterprise docking and PC peripheral segments.
As reported in the company's income statements, gross margins have fluctuated within a narrow band, reaching 45.3% in 2026Q3, which highlights the ongoing challenge of maintaining pricing power while transitioning away from commoditized mobile components toward more complex, integrated semiconductor solutions in a competitive fabless environment.
While the gross margin profile appears relatively stable, the inability to translate this into positive operating income suggests that the cost of R&D and SG&A is currently disproportionate to the revenue scale. This margin compression warrants further investigation into whether the company's product mix shift will eventually yield the anticipated operating leverage.
Based on the provided quarterly data, Synaptics continues to struggle with operating leverage, as evidenced by persistent negative operating margins that reached -4.3% in 2026Q3, despite the company's ongoing efforts to streamline its cost structure and focus on higher-margin IoT and automotive product segments.
The company's R&D expenditure remains consistently high, often exceeding $90M per quarter, which reflects a commitment to long-term innovation but simultaneously suppresses short-term profitability. Investors should consider whether this level of investment is necessary to maintain a competitive moat or if it indicates an inefficient allocation of capital.
Analysis of the income statement reveals that Synaptics' net income is frequently distorted by significant stock-based compensation expenses, which totaled $40.8M in 2026Q2 alone, complicating the assessment of true operational profitability and masking the underlying cash-generating capacity of the core semiconductor business model.
The wide variance between GAAP net income and operational performance suggests that investors should focus on non-GAAP metrics to gauge the company's actual progress. The recurring nature of these non-cash charges may continue to weigh on reported EPS, making it difficult to determine when the company will reach a sustainable earnings inflection point.
Quick answers to the most common questions about buying SYNA stock.
For fiscal year 2025, Synaptics Incorporated (SYNA) reported total revenue of $1.07B.
Synaptics Incorporated (SYNA) reported a net loss of $47.8M for the fiscal year ending 2025.
Synaptics Incorporated (SYNA) reported an operating income of $-94.1M, resulting in an operating profit margin of -8.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Synaptics Incorporated (SYNA) generated $480.4M in gross profit for the year, representing a gross profit margin of 44.7%. This demonstrates the company's core pricing power and production efficiency.