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Synaptics Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Synaptics has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Synaptics's Piotroski F-Score or its related term are showing as below:

SYNA' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Synaptics was 9. The lowest was 4. And the median was 6.


Synaptics Piotroski F-Score Historical Data

The historical data trend for Synaptics's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Synaptics Annual Data
Trend Jun13 Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 6.00 5.00 7.00

Synaptics Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 4.00 5.00 7.00

Competitive Comparison

For the Semiconductors subindustry, Synaptics's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Synaptics Piotroski F-Score Distribution

For the Semiconductors industry and Technology sector, Synaptics's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Synaptics's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 40.2 + 69.5 + 64.9 + 82.9 = $258 Mil.
Cash Flow from Operations was 58.3 + 122.4 + 127.7 + 128 = $436 Mil.
Revenue was 372.7 + 420.5 + 470.1 + 476.4 = $1,740 Mil.
Gross Profit was 198.1 + 225.1 + 253.8 + 266.1 = $943 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(2226.8 + 1782.2 + 2567.4 + 2698 + 2858.1) / 5 = $2426.5 Mil.
Total Assets at the begining of this year (Jun21) was $2,227 Mil.
Long-Term Debt & Capital Lease Obligation was $976 Mil.
Total Current Assets was $1,403 Mil.
Total Current Liabilities was $463 Mil.
Net Income was -2.8 + 49.6 + 13.8 + 19 = $80 Mil.

Revenue was 328.4 + 357.6 + 325.8 + 327.8 = $1,340 Mil.
Gross Profit was 134.5 + 150.4 + 155.5 + 170.8 = $611 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(1693.8 + 1774.9 + 1792.2 + 2181 + 2226.8) / 5 = $1933.74 Mil.
Total Assets at the begining of last year (Jun20) was $1,694 Mil.
Long-Term Debt & Capital Lease Obligation was $418 Mil.
Total Current Assets was $1,180 Mil.
Total Current Liabilities was $787 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Synaptics's current Net Income (TTM) was 258. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Synaptics's current Cash Flow from Operations (TTM) was 436. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=257.5/2226.8
=0.11563679

ROA (Last Year)=Net Income/Total Assets (Jun20)
=79.6/1693.8
=0.04699492

Synaptics's return on assets of this year was 0.11563679. Synaptics's return on assets of last year was 0.04699492. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Synaptics's current Net Income (TTM) was 258. Synaptics's current Cash Flow from Operations (TTM) was 436. ==> 436 > 258 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=975.7/2426.5
=0.40210179

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=418.4/1933.74
=0.21636828

Synaptics's gearing of this year was 0.40210179. Synaptics's gearing of last year was 0.21636828. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=1403.4/463.4
=3.02848511

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1179.7/786.7
=1.4995551

Synaptics's current ratio of this year was 3.02848511. Synaptics's current ratio of last year was 1.4995551. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Synaptics's number of shares in issue this year was 40.6. Synaptics's number of shares in issue last year was 40.7. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=943.1/1739.7
=0.54210496

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=611.2/1339.6
=0.4562556

Synaptics's gross margin of this year was 0.54210496. Synaptics's gross margin of last year was 0.4562556. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=1739.7/2226.8
=0.78125561

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=1339.6/1693.8
=0.7908844

Synaptics's asset turnover of this year was 0.78125561. Synaptics's asset turnover of last year was 0.7908844. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+0+1+1+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Synaptics has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Synaptics  (NAS:SYNA) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Synaptics Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Synaptics's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Synaptics Business Description

Synaptics logo
Traded in Other Exchanges
Address
1251 McKay Drive, San Jose, CA, USA, 95131
Synaptics is a global producer of semiconductor solutions for the mobile, PC, and Internet of Things markets. The company develops human interface solutions that enable touch, display, fingerprint, video, audio, voice, AI, and connectivity functions for smartphones, PCs, Internet of Things products, and other electronic devices.
Executives
Lee Vivie director 126 SIERRA POINT ROAD BRISBANE CA 94005
Stein Craig Browning officer: Please see remarks C/O SYNAPTICS INCORPORATED 1251 MCKAY DRIVE SAN JOSE CA 95131
Kummrow Patricia Lorraine director C/O SYNAPTICS INCORPORATED 1251 MCKAY DRIVE SAN JOSE CA 95131
Hardman Susan J director 1001 MURPHY RANCH ROAD MILPITAS CA 95035
Kumin Phillip Ralph officer: See Remarks C/O SYNAPTICS INCORPORATED 1251 MCKAY DRIVE SAN JOSE CA 95131
Mori Janice Satsumi officer: See Remarks C/O SYNAPTICS INCORPORATED 1251 MCKAY DRIVE SAN JOSE CA 95131
Butler Dean Warren officer: See Remarks C/O SYNAPTICS INCORPORATED 1251 MCKAY DRIVE SAN JOSE CA 95131
Hurlston Michael E. director, officer: See remarks below 5300 CALIFORNIA AVENUE IRVINE CA 92617
Allgood Kiva A. director C/O SYNAPTICS INCORPORATED 1251 MCKAY DRIVE SAN JOSE CA 95131
Awsare Saleel officer: See Remarks C/O SIGMA DESIGN, INC. 47467 FREMONT BLVD. FREMONT CA 94538
Nolan Kermit officer: See Remarks 1251 MCKAY DRIVE SAN JOSE CA 95131
Lu Yu-lun Richard officer: SVP & GM, Mobile Division 1251 MCKAY DRIVE SAN JOSE CA 95131
Liu Shawn Tsai-shyang officer: See Remarks 1251 MCKAY DRIVE SAN JOSE CA 95131
Wadlington Mark officer: SVP, Worldwide Sales 215 MOFFETT PARK DRIVE SUNNYVALE CA 94089
Ali Wajid officer: Senior VP and CFO 400 N MCCARTHY BLVD MILPITAS CA 95035

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