SYNH · Syneos Health, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $5.39B | $5.21B | $4.42B | $4.68B | $1.61B | $2.67B |
| Cost of Revenue | $4.14B | $3.99B | $3.40B | - | - | - |
| Gross Profit | $1.25B | $1.22B | $1.02B | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $547.25M | $570.76M | $442.48M | $446.28M | $406.31M | $282.62M |
| Total Operating Expenses | $4.99B | $4.82B | $4.12B | $4.44B | $4.23B | $2.70B |
| D&A | $247.18M | $235.63M | $222.35M | $242.47M | $273.69M | $59.20M |
| Operating Income | $403.19M | $389.28M | $293.14M | $237.75M | $160.18M | ($28.87M) |
| Interest Expense | $82.40M | $79.25M | $91.14M | $129.82M | $130.70M | $63.73M |
| Income Tax | $48.07M | $80.33M | $10.87M | ($29.55M) | $32.97M | $26.59M |
| Net Income | $266.50M | $234.83M | $192.79M | $131.26M | $24.28M | ($138.47M) |
| EPS - Basic | $2.59 | $2.26 | $1.85 | $1.27 | $0.23 | ($1.85) |
| EPS - Diluted | $2.58 | $2.24 | $1.83 | $1.25 | $0.23 | ($1.85) |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $112.00M | $106.47M | $272.17M | $163.69M | $153.86M | $321.26M |
| Accounts Receivable | - | - | - | $782.27M | $728.55M | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $118.62M | $107.53M | $113.68M | $136.69M | $98.62M | $58.58M |
| Current Assets | $1.94B | $1.77B | $1.74B | $1.56B | $1.49B | $1.42B |
| Total Assets | $8.20B | $8.24B | $8.06B | $7.45B | $7.25B | $7.29B |
| Current Liabilities | $1.72B | $1.65B | $1.58B | $1.52B | $1.50B | $1.16B |
| Long-term Debt | $2.61B | $2.78B | $2.90B | $2.55B | $2.74B | $2.95B |
| Total Liabilities | $4.70B | $4.82B | $4.82B | $4.42B | $4.40B | $4.26B |
| Stockholders' Equity | $3.50B | $3.41B | $3.24B | $3.03B | $2.86B | $3.02B |
| Retained Earnings | $167.69M | ($12.95M) | ($179.87M) | ($341.26M) | ($459.33M) | ($370.47M) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $426.98M | $450.28M | $425.49M | $318.48M | $303.45M | $198.26M |
| Investing Cash Flow | ($105.63M) | ($340.35M) | ($504.08M) | ($81.66M) | ($145.49M) | ($1.72B) |
| Financing Cash Flow | ($339.16M) | ($277.58M) | $178.26M | ($215.47M) | ($319.36M) | $1.73B |
| CapEx | $93.46M | $56.84M | $50.01M | $63.97M | $54.59M | $43.90M |
| Free Cash Flow | $333.52M | $393.44M | $375.48M | $254.51M | $248.85M | $154.36M |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 23.3% | 23.4% | 23.0% | - | - | - |
| Operating margin | 7.5% | 7.5% | 6.6% | 5.1% | 9.9% | -1.1% |
| EBITDA margin | 12.1% | 12.0% | 11.7% | 10.3% | 26.9% | 1.1% |
| Net margin | 4.9% | 4.5% | 4.4% | 2.8% | 1.5% | -5.2% |
| Free cash flow margin | 6.2% | 7.5% | 8.5% | 5.4% | 15.5% | 5.8% |
| FCF / Net income | 1.25 | 1.68 | 1.95 | 1.94 | 10.25 | -1.11 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 10.1% | 10.9% | 10.0% | 9.5% | 25.2% | 10.6% |
| Effective tax rate | 15.3% | 25.5% | 5.3% | -29.1% | 57.6% | - |
| Return on assets | 3.3% | 2.9% | 2.4% | 1.8% | 0.3% | -1.9% |
| Return on equity | 7.6% | 6.9% | 5.9% | 4.3% | 0.9% | -4.6% |
| Return on invested capital | 5.6% | 4.7% | 4.5% | 4.3% | 1.4% | -0.4% |
| Liquidity | ||||||
| Current ratio | 1.13 | 1.07 | 1.10 | 1.03 | 0.99 | 1.23 |
| Quick ratio | 1.13 | 1.07 | 1.10 | 1.03 | 0.99 | 1.23 |
| Cash ratio | 0.06 | 0.06 | 0.17 | 0.11 | 0.10 | 0.28 |
| Leverage | ||||||
| Debt / Equity | 0.75 | 0.81 | 0.90 | 0.84 | 0.96 | 0.97 |
| Debt / Assets | 0.32 | 0.34 | 0.36 | 0.34 | 0.38 | 0.40 |
| Debt / EBITDA | 4.01 | 4.44 | 5.63 | 5.31 | 6.31 | 97.10 |
| Interest coverage | 4.9x | 4.9x | 3.2x | 1.8x | 1.2x | -0.5x |
| Equity multiplier | 2.35 | 2.41 | 2.49 | 2.46 | 2.54 | 2.41 |
| Liabilities / Assets | 0.57 | 0.59 | 0.60 | 0.59 | 0.61 | 0.59 |
| Efficiency | ||||||
| Asset turnover | 0.66 | 0.63 | 0.55 | 0.63 | 0.22 | 0.37 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | 61d | 165d | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 10d | 10d | 12d | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 3.5% | 18.1% | -5.6% | 190.3% | -39.7% | 65.9% |
| Revenue CAGR (3y) | 4.9% | 47.9% | 18.2% | 42.7% | 4.8% | 45.4% |
| Revenue CAGR (5y) | 15.1% | 26.5% | 25.8% | 40.0% | - | - |
| Gross profit growth (YoY) | 2.9% | 19.7% | - | - | - | - |
| Operating income growth (YoY) | 3.6% | 32.8% | 23.3% | 48.4% | - | - |
| Net income growth (YoY) | 13.5% | 21.8% | 46.9% | 440.5% | - | - |
| EPS growth (YoY) | 15.2% | 22.4% | 46.4% | 443.5% | - | - |
| EPS CAGR (3y) | 27.3% | 113.6% | - | -14.9% | -51.0% | - |
| EPS CAGR (5y) | - | 2.0% | -1.3% | - | - | - |
| FCF growth (YoY) | -15.2% | 4.8% | 47.5% | 2.3% | 61.2% | 98.0% |
| FCF CAGR (5y) | 16.7% | 38.2% | 15.4% | 50.1% | - | - |
| Book value growth (YoY) | 2.4% | 5.3% | 7.0% | 6.1% | -5.5% | 1243.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2022-12-31.
Business segments
$5.39B totalClinical Solutions Segment$4.07B · 75.5%
Commercial Solutions Segment$1.32B · 24.5%
Geographic
$8.41B totalNorth America$3.23B · 38.3%
US$3.02B · 35.9%
EMEA$1.33B · 15.9%
Asia Pacific$680.39M · 8.1%
Latin America$151.66M · 1.8%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
1.16
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2022 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Commercial Physical & Biological Research
Comparing Syneos Health against the 5 most active filers in the same SIC group.