Revenue grew 11.4% year-over-year to $308.0M in 2026Q4, but operating income remained negative at -$16.1M, reflecting a -5.2% operating margin despite gross margin stability at 47.3%.
Synaptics Incorporated (SYNA) annual income statement — 27-year revenue, gross profit & net income history
| Metric | Jun'26 | 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 | 1.2B | 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 % | 11.44% | 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 | 661.8M | 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% | 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 | 535.4M | 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 % | 44.72% | 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 % | 11.45% | 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 | 602.5M | 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 | 50.33% | 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 | 198.3M | 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 | 16.56% | 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 | 381.8M | 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 | 31.89% | 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 | 22.4M | 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 | -67.1M | -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 % | -5.6% | -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 % | 28.69% | 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 | -67.1M | 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 % | -5.6% | 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 % | -236.94% | 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) | 0 | 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 | 0 | -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 | 0 | -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 | -12.3M | 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 | -12.3M | -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 | -79.4M | -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 % | -6.63% | -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 | 411.4M | -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 % | -518.14% | 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 | -490.8M | -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 % | -41% | -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 % | -926.78% | -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) | -490.8M | -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) | -12.62 | -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 % | -934.43% | -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) | -12.62 | -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 | 38.9M | 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 | 38.9M | 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 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying SYNA stock.
For fiscal year 2026, Synaptics Incorporated (SYNA) reported total revenue of $1.20B.
Synaptics Incorporated (SYNA) reported a net loss of $490.8M for the fiscal year ending 2026.
Synaptics Incorporated (SYNA) reported an operating income of $-67.1M, resulting in an operating profit margin of -5.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Synaptics Incorporated (SYNA) generated $535.4M 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.
Key Metrics
Top Statement Risk
Persistent negative operating margins
Metrics are mathematically derived from official filings.
Top-Line Momentum Amidst Cyclical Recovery
Revenue grew 11.4% year-over-year to $308.0M in 2026Q4, marking the fifth consecutive quarter of double-digit growth, according to reported financials, signaling a sustained demand recovery across IoT and PC segments.
The sequential progression from $237.3M in 2024Q3 to $308.0M in 2026Q4 reflects a steady acceleration, with growth rates climbing from -27.3% to +8.9% over the period. This suggests the company is emerging from a cyclical trough, likely driven by inventory normalization and design-win ramps in automotive and enterprise docking. However, the growth is broad-based rather than concentrated, as all three segments appear to be contributing, which may indicate a market-wide recovery rather than company-specific share gains.
Gross Margin Stability Masks Mix Pressures
Gross margin held at 47.3% in 2026Q4, up from 45.8% a year earlier, per income statement data, but remains below the 50%+ levels typical of high-value IoT peers, suggesting ongoing mix challenges.
The gross margin range of 42.6% to 47.3% over the past ten quarters indicates relative stability, yet the level is significantly lower than peers like Silicon Labs (58.2%) and Monolithic Power (55.2%). This gap likely reflects the lingering weight of lower-margin mobile and PC products in the revenue mix, despite the IoT pivot. The modest improvement from 45.8% to 47.3% year-over-year suggests that while the mix is gradually shifting toward higher-value solutions, the pace is slow, and foundry pricing pressures could easily reverse these gains.
Operating Leverage Absent as OpEx Outpaces Revenue
Operating income remained negative at -$16.1M in 2026Q4 despite revenue growth, with R&D and SG&A consuming 49.5% of sales, based on reported figures, indicating that cost discipline has not yet caught up with the expansion.
The operating margin has improved from -12.6% in 2024Q4 to -5.2% in 2026Q4, but the company still fails to generate operating leverage as revenue scales. R&D expenses have grown from $83.4M to $97.8M over the same period, a 17% increase that outpaces the 30% revenue growth, suggesting management is investing heavily in future design wins. The absence of SG&A data in several quarters complicates the analysis, but the trend implies that overhead remains sticky, and the path to breakeven requires either higher revenue or a deliberate cost reduction program.
Net Income Distorted by Non-Operating Items
Net income swung from a $208.3M gain in 2024Q4 to a -$447.4M loss in 2026Q4, per financial statements, driven by a one-time impairment or tax benefit, while stock-based compensation averaged $34M quarterly, clouding underlying profitability.
The 2024Q4 net income of $208.3M on a -$31.1M operating loss indicates a substantial non-operating gain, likely from a tax valuation allowance release or a discrete item, which is not sustainable. Conversely, the 2026Q4 net loss of -$447.4M far exceeds the operating loss, suggesting a large write-down or impairment charge, possibly related to inventory obsolescence or goodwill. Excluding these items, the underlying net loss is roughly -$20M per quarter, which aligns with the operating losses, but the volatility in non-operating items makes quarterly EPS unreliable for valuation.
R&D Intensity Signals Long-Term Commitment
R&D spending rose to $97.8M in 2026Q4, representing 31.8% of revenue, according to reported data, a level that exceeds most semiconductor peers and underscores the company's bet on future IoT and automotive growth.
The R&D-to-revenue ratio has remained consistently above 30% over the past ten quarters, even as revenue grew, indicating that management is prioritizing design-win pipeline development over near-term profitability. This is a deliberate strategy to transition the product mix toward higher-margin automotive and industrial IoT, but it carries execution risk. If the design wins do not materialize into revenue within the expected 18-24 month cycle, the sustained R&D spend will continue to pressure margins and delay the path to profitability.
Margin Recovery May Be Elusive
Despite five quarters of double-digit revenue growth, operating margins remain deeply negative at -5.2% in 2026Q4, per income statement data, suggesting that the cost structure may be structurally misaligned with the current revenue base.
Short-sellers would argue that the company's inability to convert revenue growth into operating income, even after a prolonged recovery, indicates that the IoT pivot has not yet delivered the expected margin expansion. The gross margin of 47.3% is only modestly above the 45.8% from a year ago, implying that the mix shift is slower than anticipated, and the heavy R&D spend may not yield sufficient returns if the automotive and enterprise markets face a downturn. Furthermore, the lack of formal guidance and the recent EPS miss suggest that management may be uncertain about the near-term trajectory, which could lead to further downside if the inventory normalization in the PC channel persists.