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 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.37B | $1.36B | - | $1.34B | $1.36B | $1.34B | - | $1.35B | $1.28B | $1.21B |
| Cost of Revenue | $1.07B | $1.09B | - | $1.02B | $1.03B | $1.04B | - | $1.03B | $992.58M | $945.25M |
| Gross Profit | $294.72M | $268.25M | - | $318.44M | $325.84M | $291.82M | - | $316.34M | $290.03M | $263.50M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $182.52M | $161.52M | - | $130.35M | $139.04M | $140.17M | - | $139.52M | $144.67M | $137.31M |
| Total Operating Expenses | $1.32B | $1.40B | - | $1.22B | $1.24B | $1.26B | - | $1.23B | $1.20B | $1.15B |
| D&A | $20.78M | $61.59M | - | $21.80M | $21.24M | $62.20M | - | $17.68M | $18.16M | $57.94M |
| Operating Income | $42.22M | ($39.54M) | - | $117.84M | $116.60M | $73.90M | - | $113.36M | $83.68M | $61.02M |
| Interest Expense | $37.88M | $26.79M | - | $22.13M | $18.10M | $15.77M | - | $16.70M | $22.62M | $23.33M |
| Income Tax | ($132.0K) | ($3.01M) | - | $29.64M | $25.94M | $7.32M | - | $22.17M | $9.13M | $8.29M |
| Net Income | $793.0K | ($72.15M) | - | $87.05M | $77.74M | $46.18M | - | $78.24M | $41.91M | $38.72M |
| EPS - Basic | $0.01 | ($0.70) | - | $0.85 | $0.76 | $0.45 | - | $0.76 | $0.40 | $0.37 |
| EPS - Diluted | $0.01 | ($0.70) | - | $0.84 | $0.75 | $0.44 | - | $0.75 | $0.40 | $0.37 |
Balance Sheet
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $82.28M | $111.06M | $112.00M | $170.10M | $105.99M | $119.15M | $106.47M | $122.53M | $261.13M | $264.69M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $137.02M | $145.97M | $118.62M | $118.95M | $99.32M | $108.31M | $107.53M | $110.35M | $107.77M | $113.88M |
| Current Assets | $1.95B | $1.95B | $1.94B | $1.96B | $1.88B | $1.88B | $1.77B | $1.76B | $1.75B | $1.67B |
| Total Assets | $8.08B | $8.10B | $8.20B | $8.20B | $8.22B | $8.30B | $8.24B | $8.22B | $8.02B | $7.95B |
| Current Liabilities | $1.63B | $1.69B | $1.72B | $1.72B | $1.71B | $1.72B | $1.65B | $1.69B | $1.60B | $1.53B |
| Long-term Debt | $2.64B | $2.61B | $2.61B | $2.75B | $2.81B | $2.91B | $2.78B | $2.89B | $2.86B | $2.86B |
| Total Liabilities | $4.58B | $4.64B | $4.70B | $4.84B | $4.89B | $5.00B | $4.82B | $4.90B | $4.78B | $4.72B |
| Stockholders' Equity | $3.49B | $3.45B | $3.50B | $3.35B | $3.33B | $3.30B | $3.41B | $3.32B | $3.24B | $3.24B |
| Retained Earnings | $96.34M | $95.55M | $167.69M | $112.17M | $25.12M | ($52.63M) | ($12.95M) | ($88.91M) | ($167.16M) | ($165.83M) |
Cash Flow
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | $30.42M | - | - | - | $70.89M | - | - | - | $127.09M |
| Investing Cash Flow | - | ($27.62M) | - | - | - | ($25.50M) | - | - | - | ($19.78M) |
| Financing Cash Flow | - | $199.0K | - | - | - | ($36.57M) | - | - | - | ($111.37M) |
| CapEx | - | $27.51M | - | - | - | $23.47M | - | - | - | $11.17M |
| Free Cash Flow | - | $2.92M | - | - | - | $47.41M | - | - | - | $115.92M |
Ratios
| Metric | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 21.6% | 19.8% | - | 23.8% | 23.9% | 21.8% | - | 23.5% | 22.6% | 21.8% |
| Operating margin | 3.1% | -2.9% | - | 8.8% | 8.6% | 5.5% | - | 8.4% | 6.5% | 5.0% |
| EBITDA margin | 4.6% | 1.6% | - | 10.5% | 10.1% | 10.2% | - | 9.7% | 7.9% | 9.8% |
| Net margin | 0.1% | -5.3% | - | 6.5% | 5.7% | 3.5% | - | 5.8% | 3.3% | 3.2% |
| Free cash flow margin | - | 0.2% | - | - | - | 3.5% | - | - | - | 9.6% |
| FCF / Net income | - | -0.04 | - | - | - | 1.03 | - | - | - | 2.99 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 13.4% | 11.9% | - | 9.8% | 10.2% | 10.5% | - | 10.3% | 11.3% | 11.4% |
| Effective tax rate | -20.0% | - | - | 25.4% | 25.0% | 13.7% | - | 22.1% | 17.9% | 17.6% |
| Return on assets | 0.0% | -0.9% | - | 1.1% | 0.9% | 0.6% | - | 1.0% | 0.5% | 0.5% |
| Return on equity | 0.0% | -2.1% | - | 2.6% | 2.3% | 1.4% | - | 2.4% | 1.3% | 1.2% |
| Return on invested capital | 0.7% | -0.5% | - | 1.4% | 1.4% | 1.0% | - | 1.4% | 1.1% | 0.8% |
| Liquidity | ||||||||||
| Current ratio | 1.20 | 1.15 | 1.13 | 1.14 | 1.10 | 1.09 | 1.07 | 1.04 | 1.10 | 1.09 |
| Quick ratio | 1.20 | 1.15 | 1.13 | 1.14 | 1.10 | 1.09 | 1.07 | 1.04 | 1.10 | 1.09 |
| Cash ratio | 0.05 | 0.07 | 0.06 | 0.10 | 0.06 | 0.07 | 0.06 | 0.07 | 0.16 | 0.17 |
| Leverage | ||||||||||
| Debt / Equity | 0.76 | 0.76 | 0.75 | 0.82 | 0.84 | 0.88 | 0.81 | 0.87 | 0.88 | 0.88 |
| Debt / Assets | 0.33 | 0.32 | 0.32 | 0.34 | 0.34 | 0.35 | 0.34 | 0.35 | 0.36 | 0.36 |
| Debt / EBITDA | 41.93 | 118.46 | - | 19.71 | 20.40 | 21.35 | - | 22.09 | 28.12 | 24.06 |
| Interest coverage | 1.1x | -1.5x | - | 5.3x | 6.4x | 4.7x | - | 6.8x | 3.7x | 2.6x |
| Equity multiplier | 2.31 | 2.34 | 2.35 | 2.44 | 2.47 | 2.52 | 2.41 | 2.47 | 2.48 | 2.46 |
| Liabilities / Assets | 0.57 | 0.57 | 0.57 | 0.59 | 0.59 | 0.60 | 0.59 | 0.60 | 0.60 | 0.59 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | 0.17 | - | 0.16 | 0.17 | 0.16 | - | 0.16 | 0.16 | 0.15 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 47d | 49d | - | 43d | 35d | 38d | - | 39d | 40d | 44d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.4% | 1.5% | - | -0.9% | 6.1% | 10.5% | - | 22.7% | 26.6% | 3.9% |
| Revenue CAGR (3y) | 10.5% | 5.3% | - | 4.3% | 5.3% | 6.1% | - | 17.9% | 48.6% | 4.6% |
| Revenue CAGR (5y) | 28.4% | 5.1% | - | 10.2% | 28.3% | 28.5% | - | 28.0% | 26.3% | 24.0% |
| Gross profit growth (YoY) | -9.6% | -8.1% | - | 0.7% | 12.3% | 10.8% | - | 13.5% | 39.8% | 10.1% |
| Operating income growth (YoY) | -63.8% | - | - | 4.0% | 39.3% | 21.1% | - | 14.8% | 139.3% | 24.6% |
| Net income growth (YoY) | -99.0% | - | - | 11.3% | 85.5% | 19.2% | - | 23.4% | 971.5% | 15.3% |
| EPS growth (YoY) | -98.7% | - | - | 12.0% | 87.5% | 18.9% | - | 25.0% | 900.0% | 15.6% |
| EPS CAGR (3y) | -37.0% | - | - | 14.5% | 89.6% | - | - | - | 45.4% | - |
| EPS CAGR (5y) | -40.1% | - | - | - | 65.7% | 3.0% | - | 8.9% | -5.8% | 3.6% |
| FCF growth (YoY) | - | -93.9% | - | - | - | -59.1% | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | -6.2% | - | - | - | - |
| Book value growth (YoY) | 4.9% | 4.6% | 2.4% | 1.0% | 2.8% | 2.0% | 5.3% | 7.2% | 8.0% | 8.7% |
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%
Peer comparison
Same SIC group: Services-Commercial Physical & Biological Research
Comparing Syneos Health against the 5 most active filers in the same SIC group.