Synaptics

SYNA · Nasdaq · Information Technology · Financials, fiscal 2017 to 2026

SYNA · Last close · October 26, 2026

$117.35

Synaptics' revenue rose 11.4% to $1.2 billion in fiscal 2026. Its operating margin was −5.6%, up from −8.8% a year earlier. Free cash flow was $101 million, down 12.7%. It paid out $93 million in dividends and buybacks, 91% of free cash flow. The diluted share count fell 1.0%.

SYNAPTICS Inc Latest fiscal year ended June 27, 2026 10-K filed August 10, 2026 · 0000817720-26-000055 Updated October 17, 2026

Revenue

$1.2B

11.4%

Operating margin

−5.6%

3.2 pts

Net income

−$491M

Free cash flow

$101M

12.7%

Return on capital

−3.4%

1.0 pts

Market cap

$4.6B

Oct 26 close

P/E

—

Loss: no P/E

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

About these figures. Synaptics had no current portion of debt at the end of fiscal 2018, only its convertible notes (checked against its balance sheet).

Charts show fiscal years, from the 10-K filings.

Revenue and margins

Revenue

US$ billions, fiscal years

Margins

Percent of revenue

GrossOperatingNetFree cash flow

Net income and earnings per share

From fiscal 2017 to 2024, earnings per share grew 12.7% a year and net income 14.5% a year, as new shares raised the share count by 12% and diluted each share's earnings. Synaptics then lost money in fiscal 2025 and 2026.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Cash flow

Free cash flow

US$ billions. Cash from operations minus capital expenditure; negative years in red.

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Valuation

Two ways to value Synaptics yourself, both starting from its filings: a discounted cash flow model and the price-to-earnings method.

Discounted cash flow (DCF)

A discounted cash flow (DCF) model values a business as the cash it may generate in future, discounted back to today. The starting figures come from Synaptics' 10-K and the assumptions are yours: start from one of three example scenarios, then change any figure to see what it implies for a share, and how that compares with the last share price.

Value per share on three example scenarios, from Synaptics' cash from operations minus depreciation in fiscal 2026 (free cash flow before spending to grow: capital spending was 1.6 times depreciation, which holds its free cash flow down) of $119M, net cash of −$395M at June 27, 2026 and 39 million diluted shares, from its filings. The scenarios are fitted to Synaptics: the base scenario's growth in years 1 to 5 is its revenue growth over the last 3 years, -4.0% a year, kept between 0% and 20%; the cautious and optimistic ones are lower and higher, and growth in years 6 to 10 is halfway to the long-run rate. The base scenario's discount rate is 13%: 11% for a cyclical or higher-risk business (Semiconductors), plus 1 point as a smaller company, worth $4.6B, plus 1 point for unsteady results (a loss in fiscal 2026); the cautious and optimistic ones use a point more and a point less. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

From the filings

Starting free cash flow, US$ millions

Cash from operations minus depreciation in fiscal 2026: a rough guide to cash flow before spending to grow, for a company building heavily.

Net cash, US$ millions Cash and short-term investments minus debt and finance leases at June 27, 2026. Negative means net debt.

Diluted shares, millions Weighted-average diluted shares in fiscal 2026.

Your assumptions

Start from

Fitted to Synaptics's own revenue growth, as above. Cautious: growth of -2% then 0% a year, 2% after year 10, a 14% discount rate. Base: growth of 0% then 1% a year, 2.5% after year 10, a 13% discount rate. Optimistic: growth of 2% then 2.5% a year, 3% after year 10, a 12% discount rate.

Free cash flow growth, years 1 to 5 (% a year)

Free cash flow growth, years 6 to 10 (% a year)

Growth after year 10 (% a year)Long-run growth forever after year 10. Usually close to inflation, and always below the discount rate.

Discount rate (% a year)The yearly return an investor wants for the risk. A higher rate gives a lower value.

Value per share on these assumptions

—

Last close, October 26, 2026: $117.35
Value on these assumptions, against the last close: —

Cash flows in years 1 to 10, valued today: —
Everything after year 10, valued today: —
Plus net cash: —
Share of value from after year 10: —

Projected free cash flow

US$ billions. Each column is one year's projected free cash flow, split into what it is worth today and the part removed by discounting.

Value todayRemoved by discounting

How the value changes with two assumptions

Value per share in US$, with the growth rates above. The highlighted cell matches the current assumptions.

How the model works. Free cash flow grows at the first rate for five years and the second rate for five more, and each year is discounted at the discount rate. Everything after year 10 is valued as year-10 cash flow × (1 + growth after year 10) ÷ (discount rate − growth after year 10), discounted back ten years. Net cash is added and the total is divided by diluted shares. The result depends entirely on the assumptions. It is not a forecast, a price target or a recommendation. The last close is the consolidated US closing price, from Databento.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

The P/E method needs positive earnings, and Synaptics' latest diluted earnings per share were negative or zero.

Balance sheet

Fiscal year end	FY22	FY23	FY24	FY25	FY26
Cash and short-term investments	876	934	877	452	442
Debt incl. finance leases	997	991	973	835	837
Net debt (negative means net cash)	121	57	96	382	395
Net debt to EBITDA	0.3x	0.3x	—	—	—
Debt to equity	0.8x	0.8x	0.7x	0.6x	0.9x
Interest coverage	11.6x	2.8x	−1.6x	−2.4x	−2.9x
Current ratio	3.0x	4.9x	4.2x	2.8x	1.1x
Quick ratio	2.7x	4.4x	3.8x	2.3x	0.9x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, no insider bought Synaptics shares on the open market, and 5 insiders sold $8.7 million, all of it under trading plans set up in advance.

Date	Insider	Trade	Shares	Price	Value	Filing
Oct 20, 2026	Rahul G. PatelSee remarks below, Director	Sold plan	4,302	$117.55	$505,700	Form 4
Sep 25, 2026	Esther SongSee Remarks	Sold plan	147	$100.00	$14,700	Form 4
Sep 21, 2026	Rahul G. PatelSee remarks below, Director	Sold plan	2,276	$93.83	$213,557	Form 4
Sep 18, 2026	Lisa BodensteinerSee Remarks	Sold plan	334	$92.63	$30,938	Form 4
Sep 18, 2026	Esther SongSee Remarks	Sold plan	63	$92.63	$5,836	Form 4
Aug 25, 2026	Vikram GuptaSee Remarks	Sold plan	4,277	$94.49	$404,153	Form 4
Aug 19, 2026	Rahul G. PatelSee remarks below, Director	Sold plan	2,276	$105.39	$239,868	Form 4
Aug 18, 2026	Lisa BodensteinerSee Remarks	Sold plan	6,056	$103.62	$627,534	Form 4
Aug 18, 2026	Vikram GuptaSee Remarks	Sold plan	4,277	$103.65	$443,328	Form 4
Aug 18, 2026	Esther SongSee Remarks	Sold plan	437	$103.68	$45,308	Form 4
Jul 27, 2026	Vikram GuptaSee Remarks	Sold plan	360	$114.20	$41,112	Form 4
Jul 20, 2026	Rahul G. PatelSee remarks below, Director	Sold plan	4,554	$114.85	$523,046	Form 4

The latest 12 of 37 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Piotroski F-score

The F-score counts how many of nine simple tests of profitability, funding and efficiency a company passed in a year (Piotroski, 2000). The more tests passed, the stronger the year: 8 or 9 is strong, 0 to 2 weak. Companies that report no gross profit are scored on the other eight.

Test	FY24	FY25	FY26
Net income is positive	Pass	Fail	Fail
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Pass	Fail	Fail
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Pass	Pass	Fail
Current ratio rose	Fail	Fail	Fail
Share count didn't rise	Pass	Pass	Pass
Gross margin rose	Fail	Fail	Pass
Revenue rose relative to assets	Fail	Pass	Pass
F-score	6 of 9	5 of 9	5 of 9
Accruals ratio	−0.4%	−7.0%	−27.3%

The accruals ratio is net income minus cash from operations, over average total assets.

Compare

Put Synaptics side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Synaptics	FY26	11.4%	−5.6%	8.5%	−3.4%	—	5
Semtech	FY26	15.5%	3.1%	16.3%	2.9%	4.7x	7	Compare
MACOM Technology Solutions	FY25	32.6%	13.4%	19.9%	9.8%	−1.3x	5	Compare
Tower Semiconductor	FY25	9.1%	12.4%	−3.1%	9.9%	−1.9x	7	Compare
Allegro MicroSystems	FY26	22.8%	2.1%	14.0%	1.3%	1.4x	7	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score above.

10 years of figures

Fiscal year	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Income statement
Revenue	1,718	1,630	1,472	1,334	1,340	1,740	1,355	959	1,074	1,197
Revenue growth	3.1%	−5.1%	−9.7%	−9.4%	0.4%	29.9%	−22.1%	−29.2%	12.0%	11.4%
Gross profit	524	480	497	543	611	943	716	440	480	535
Research and development	292	363	343	302	313	367	351	336	347	382
Operating income	65	−62	−6	69	147	350	154	−102	−94	−67
Net income	49	−124	−23	119	80	258	74	126	−48	−491
Diluted EPS (US$)	1.37	−3.63	−0.66	3.41	2.08	6.33	1.83	3.16	−1.22	−12.62
Diluted shares (millions)	36	34	35	35	38	41	40	40	39	39
Cash flow
Cash from operations	153	145	154	222	319	463	332	136	142	149
Capital expenditure	31	34	24	16	21	31	34	34	26	48
Free cash flow	122	111	130	206	298	432	297	102	116	101
Dividends paid	0	0	0	0	0	0	0	0	0	0
Share buybacks	88	94	118	30	0	0	184	0	128	93
Acquisitions	0	397	0	0	626	501	16	0	201	0
Stock-based compensation	62	71	59	49	66	101	122	119	113	149
Balance sheet at fiscal year end
Cash and short-term investments	368	301	328	763	836	876	934	877	452	442
Debt incl. finance leases	217	451	468	100	394	997	991	973	835	837
Total assets	1,267	1,500	1,410	1,694	2,227	2,858	2,611	2,825	2,584	2,102
Total liabilities	526	770	752	875	1,260	1,592	1,368	1,358	1,190	1,172
Shareholders' equity	740	729	656	819	967	1,266	1,243	1,467	1,395	930
Margins and ratios
Gross margin	30.5%	29.4%	33.8%	40.7%	45.6%	54.2%	52.8%	45.8%	44.7%	44.7%
Operating margin	3.8%	−3.8%	−0.4%	5.2%	11.0%	20.1%	11.4%	−10.6%	−8.8%	−5.6%
Net margin	2.8%	−7.6%	−1.6%	8.9%	5.9%	14.8%	5.4%	13.1%	−4.5%	−41.0%
Free cash flow margin	7.1%	6.8%	8.9%	15.4%	22.2%	24.8%	21.9%	10.6%	10.8%	8.5%
Return on capital	8.8%	−6.7%	−0.6%	11.0%	31.9%	29.2%	6.7%	−5.6%	−4.5%	−3.4%
Return on equity	6.8%	−16.9%	−3.3%	16.1%	8.9%	23.1%	5.9%	9.3%	−3.3%	−42.2%
Return on assets	3.8%	−9.0%	−1.6%	7.7%	4.1%	10.1%	2.7%	4.6%	−1.8%	−20.9%
Net debt to EBITDA	−1.5x	—	4.8x	−6.9x	−2.6x	0.3x	0.3x	—	—	—

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Synaptics' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Synaptics.