Super Micro Computer Inc SMCI

Information TechnologyComputers, Phones & Household ElectronicsUnited States of America

Last close 32.95 USD on Nov 1, 2026, +12.6% year to date

Quant rating

Quant rating A Rank 47 of 389 in Information Technology

Growth A 32 of 389
Valuation C 241 of 389
Quality B 83 of 389
Revisions A 11 of 389
Momentum C 238 of 389

Wall Street consensus Hold (3.00)Average target 45.42 USD +37.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 21.6B
Enterprise value: 27.0B
52-week range: 19.49 – 53.01
3-year range: 18.01 – 118.81
Dividend yield: –
Beta (5 years): 2.16
Shares outstanding: 657M
Next earnings: Nov 3, 2026

About the company

Super Micro Computer, Inc. is an application-optimized Total IT solutions provider including server, artificial intelligence (AI) systems, storage, Internet of Things (IoT) devices, switches, software, and support services. Total IT Solutions include complete servers, storage systems, modular blade servers, workstations, full-rack scale solutions, networking devices, server sub-systems, and server management. Its products are designed and manufactured in-house (in the United States, Taiwan, and the Netherlands). The Company's portfolio of Server Building Block Solutions allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from the Company's flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	39,063	21,972	14,989	7,123	5,196	–
Revenue growth	77.8%	46.6%	110.4%	37.1%	46.1%	61.5%
EPS (basic, normalized)	3.63	2.06	2.21	1.18	0.56	–
EPS growth	76.2%	−6.7%	87.0%	109.0%	–	–
Gross margin	11.4%	11.1%	13.8%	18.0%	15.4%	13.9%
Net margin	5.6%	4.8%	7.7%	9.0%	5.5%	6.5%
ROE	21.5%	17.9%	31.2%	37.7%	22.6%	26.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	7,521
Current ratio	3.87x
Long-term debt (mil)	6,681
Net debt (mil)	5,425
Total equity (mil)	14,479
Net debt / equity	0.37x
Net debt / EBITDA	1.57x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	39,063	+77.8%	0.7x	3,447	+106.5%	7.8x	3.63	+76.2%	9.1x
2027	69,168	+77.1%	0.4x	5,700	+65.4%	4.7x	4.65	+28.1%	7.1x
2028	81,081	+17.2%	0.3x	6,401	+12.3%	4.2x	5.64	+21.2%	5.8x
2029	93,623	+15.5%	0.3x	7,879	+23.1%	3.4x	6.50	+15.2%	5.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	69,168	+3.1%	+31.3%	+39.3%	4.65	+6.8%	+40.3%	+54.5%
2028	81,081	+1.9%	+31.6%	+43.8%	5.64	+4.7%	+39.1%	+55.5%
2029	93,623	0.0%	+46.8%	+54.0%	6.50	0.0%	+49.8%	+101.7%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	3,850	5,308	5,937	5,678	4,600	5,757	5,018	12,682	10,243	11,120
Sales mean (mil)	3,952	5,303	6,126	5,845	5,418	5,893	5,998	10,232	12,332	11,551
Surprise	−2.6%	+0.1%	−3.1%	−2.9%	−15.1%	−2.3%	−16.3%	+23.9%	−16.9%	−3.7%
EPS reported	0.67	0.62	0.74	0.60	0.31	0.41	0.35	0.69	0.84	1.70
EPS mean	0.58	0.81	0.76	0.64	0.50	0.44	0.40	0.49	0.62	0.96
Surprise	+15.0%	−22.5%	−2.0%	−5.4%	−38.1%	−6.6%	−13.2%	+41.4%	+35.0%	+77.5%

Peer comparison Computers, Phones & Household Electronics

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SMCI Super Micro Computer Inc	21.6B	1.57x	5.6%	1.49x	7.1x	5.8x	4.7x	4.2x
AAPL Apple Inc.	5.03T	0.15x	26.8%	46.83x	38.9x	35.8x	29.7x	28.1x
DELL Dell Technologies Inc	269.8B	1.83x	5.2%	−190.30x	16.4x	14.0x	11.8x	10.7x
SNDK SanDisk Corporation	166.3B	−0.40x	56.4%	9.14x	5.2x	4.3x	4.0x	3.3x
STX Seagate Technology Holdings PLC	148.0B	0.23x	26.1%	42.88x	16.0x	9.8x	12.7x	7.6x
WDC Western Digital Corp	137.0B	−0.10x	71.9%	14.65x	14.6x	8.9x	11.5x	7.2x
Mean		0.55x	32.0%	−12.55x	16.4x	13.1x	12.4x	10.2x
Median		0.19x	26.5%	11.89x	15.3x	9.3x	11.7x	7.4x

Technical analysis

1M−21.1%
3M+15.8%
1Y−37.1%
3Y+36.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Super Micro Computer Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	39,063	21,972	14,989	7,123	5,196	3,557
Cost of revenue	34,598	19,542	12,928	5,840	4,396	3,023
Gross profit	4,465	2,430	2,061	1,283	800	535
Selling, general & administrative expenses	686	540	387	215	191	186
Research & development	771	637	464	307	272	224
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	250	30.3	–	–	2.0	–
Other operating expenses	0	0	0	0	0	0
Operating income	2,758	1,223	1,211	761	335	124
Net interest income (expense)	28.4	−59.6	−19.4	−10.5	−6.4	−2.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	2.3	48.8	22.7	3.6	8.1	−2.8
Net income before taxes	2,789	1,212	1,214	754	337	119
Provision for taxes	556	157	63.3	111	52.9	6.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	−2.5	−6.2	1.8	−3.6	1.2	0.2
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	2,230	1,049	1,153	640	285	112
Extraordinary items	–	–	–	–	–	–
Net income	2,230	1,049	1,153	640	285	112
EBIT, normalized	3,008	1,253	1,211	761	337	124
EBITDA, normalized	3,062	1,311	1,252	796	370	152
Basic EPS, normalized	3.63	2.06	2.21	1.18	0.56	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Super Micro Computer Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	7,545	5,170	1,670	440	267	232
Receivables	6,263	2,218	2,749	1,176	973	564
Total inventory	12,896	4,680	4,333	1,446	1,546	1,041
Prepaid expenses	959	234	180	117	14.9	25.1
Other current assets	64.4	0	0	0	5.8	5.2
Total current assets	27,726	12,302	8,932	3,179	2,806	1,867
Property, plant & equipment	1,147	798	414	290	310	295
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	148	112	–	–	6.9	6.1
Note receivable	70.2	–	–	–	–	–
Other long-term assets	854	806	480	205	82.2	73.8
Total assets	29,945	14,018	9,826	3,675	3,205	2,242
Liabilities
Accounts payable	2,247	1,282	1,472	777	655	612
Payable/accrued	–	–	–	–	–	–
Accrued expenses	622	304	260	150	141	101
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	2,040	75.1	402	170	449	63.5
Other current liabilities	2,252	683	211	278	225	192
Total current liabilities	7,160	2,345	2,346	1,375	1,470	969
Long-term debt	6,681	4,683	1,772	120	148	34.7
Minority interest	0.2	0.2	0.2	0.2	0.2	0.2
Other liabilities	1,625	689	291	208	162	142
Total liabilities	15,466	7,717	4,409	1,703	1,780	1,146
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4,601	2,866	2,831	538	482	438
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	5,652	3,435	2,586	1,433	943	658
Treasury stock	–	–	–	–	–	0
Other equity	4,227	0.7	0.7	0.6	0.9	0.5
Total equity	14,479	6,302	5,417	1,972	1,426	1,096
Total liabilities & shareholders' equity	29,945	14,018	9,826	3,675	3,205	2,242

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Super Micro Computer Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	2,230	1,049	1,153	640	285	112
Depreciation, depletion & amortization	53.7	58.3	41.0	34.9	32.5	28.2
Deferred taxes	−95.4	−215	−168	−93.0	−6.8	−8.4
Non-cash items	650	377	241	54.8	32.5	35.8
Changes in working capital	−9,648	390	−3,753	26.9	−784	−44.5
Cash from operations	−6,810	1,660	−2,486	664	−441	123
Investing activities
Capital expenditures	−162	−127	−124	−36.8	−45.2	−58.0
Other investing cash flows	−38.3	−56.0	−70.0	−2.7	−1.1	0
Cash from investing	−200	−183	−194	−39.5	−46.3	−58.0
Financing activities
Financing cash flow items	−154	−356	−316	−28.2	−10.7	−9.3
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	9,633	2,380	4,228	−420	534	−35.2
Cash from financing	9,479	2,024	3,912	−448	523	−44.4
Foreign exchange effects	−9.4	1.7	−2.2	−3.4	−0.7	0.6
Net change in cash	2,459	3,502	1,229	172	35.1	21.1
Free cash flow	−6,972	1,532	−2,610	627	−486	64.9

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.