Forensic Analysis · Semiconductors · as of Sep 25, 2026
Synaptics Inc (SYNA)
A forensic read on Synaptics Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
4.6
Distress distance
Clean
Earnings quality
3
Forensic signals
-7.4
P / E (ttm)
-52.8%
ROE
$3.9B
Market cap
0.00%
Dividend yield
11.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Synaptics Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 4.6, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-3.8%
FY2026
Return on invested capital.Return on invested capital is -3.8% in the latest fiscal year and steady across FY2024–FY2026, inside a 1.0-point range. After-tax operating profit was ($80M) in FY2024 and ($53M) in FY2026, with operating income at -10.6% of revenue in FY2024, -8.8% in FY2025 and -5.6% in FY2026. The capital base behind it came down -17% across FY2024–FY2026, from $1.7B to $1.4B, so this is a return struck on a smaller base rather than a record of money put to work. FY2024's operating profit carried a $16M asset write-down and a $10M restructuring charge that alone took about 1.2 points off that year's return, so more than the whole 1.0-point rise across FY2024–FY2026 is that charge leaving the base year rather than the capital earning more. FY2025's operating profit carried a $17M restructuring charge and a $14M asset write-down that alone took about 1.3 points off that year's return; FY2025 sits between the two ends of FY2024–FY2026, so the charge shapes the path between them without moving the change across it.
50d DSO
FY2025→FY2026
Receivables vs revenue.Days sales outstanding moved from 44 to 50 days FY2025→FY2026 (receivables +26% vs revenue +11%). Receivables are creeping up relative to sales. Across FY2024–FY2026 the day count ran 54 → 44 → 50 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Deferred revenue was roughly flat (-90%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2025's opening balance is on file, but across the 3 fiscal years read here (FY2024–FY2026) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
91% of FCF
FY2026
Shareholder returns.Returned $93M to shareholders (buybacks + dividends) in FY2026 — 91% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 0% of free cash flow two years back — not just sitting there. Counting the $149M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 239%.
Key fundamentals
Latest Revenue$1.20B
Revenue Growth YoY+11.4%
Revenue CAGR (2yr)+11.8%
Net Margin-41.0%
Free Cash Flow$101.4M
Return on Equity-52.8%
Debt / Equity0.90x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Synaptics Inc's actual 10-K/10-Q/8-K filings?