Super Micro Computer, Inc. (SMCI) financials
NASDAQ · Technology · Computer Hardware · 7,000 employees · CEO Charles Liang
- Price
- $32.95 -4.30%
- Market cap
- $21.6B
- Enterprise value
- $20.8B
- Last report
- Q4 '26 filed 2026-08-31
- Next report
- 2026-11-03 EPS est. $1.23
Revenue (TTM)$39.1B+77.8% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)7.1%+1.4 pp vs a year agoOperating income $2.77B
Net income (TTM)$2.23B+112.7% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$6.97B-555.0% vs a year agoCapex $162M
Diluted EPS (TTM)$3.26+183.5% vs a year agoSum of the last 4 quarters
Net cash$841M+115.0% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $21.6B EV $20.8B
- Revenue
- $39.1B Trailing 12 months
- Revenue growth
- +87% FY2027 consensus
- Profit margin
- 5.7% Net income / revenue, TTM
- P/E
- 9.0× Forward 6.9× (FY2027)
- P/S
- 0.6× Price / sales, TTM
- EV / EBITDA
- 6.8× TTM
- Free cash flow
- -$6.97B Trailing 12 months
- Net income
- $2.23B Trailing 12 months
- Revenue estimate
- $73B FY2027 consensus
- Earnings
- 2026-11-03 Revenue est. $17.5B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-11): revenue missed by 4.1%, EPS beat by 84.2%Revenue $11.1B vs $11.6B expected (-4.1%); EPS $1.70 vs $0.92 (+84.2%).
- Revenue growth accelerating: 93.2% year on yearQ4 '26 revenue $11.1B, against an average of 59.5% over the four quarters before.
- Operating margin 7.1% (TTM), +1.4 pp on a year agoOperating income grew 121.1% while revenue grew 77.8%.
- Capex 0.4% of revenue (a year ago 0.6%)$162M invested in the last 4 quarters (+27.3% on a year earlier). Free cash flow -$6.97B = -312.6% of net income.
- Diluted share count up 11.6% in a year697M diluted shares in Q4 '26, 625M a year earlier.
- Net cash $841MCash + short-term investments $7.52B, debt incl. leases $6.68B; a year ago net cash $391M.
Last quarter: Q4 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q4 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $11.1B | $5.76B | +93.2% |
| Gross margin | 17.5% | 9.5% | +8.0 pp |
| Operating income | $1.49B | $228M | +551.5% |
| Operating margin | 13.4% | 4.0% | +9.4 pp |
| Net income | $1.18B | $195M | +503.7% |
| Diluted EPS | $1.68 | $0.31 | +441.9% |
| Operating cash flow | $747M | $864M | -13.5% |
| Capex | $28.2M | $22.7M | +24.5% |
| Free cash flow | $719M | $841M | -14.5% |
| R&D | $201M | $183M | +10.0% |
| Stock-based compensation | $16.1M | $83.6M | -80.8% |
Reported vs consensus
2026-08-11| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $11.1B | $11.6B | -4.1% |
| EPS (as estimated) | $1.70 | $0.92 | +84.2% |
From the report of 2026-08-11 for Q4 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q4 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Server And Storage Systems | $170M | -97.0% | 54.8% | $538M | -97.5% | |
| Subsystems and accessories | $140M | +0.6% | 45.2% | $420M | -36.4% |
Revenue by region
share of total| Segment | Q4 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $7.89B | +259.4% | 87.3% | $27.7B | +112.1% | |
| Other region | $1.15B | +299.8% | 12.7% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- -$6.81B
- Capex
- -$162M
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- $3.92B
- Stock-based compensation
- $105M
- Free cash flow
- -$6.97B
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 9.0× | 19.3× | 3.3× – 45.9× |
| EV / EBITDA | 6.8× | 18.0× | 6.1× – 38.3× |
| EV / Sales | 0.5× | 1.5× | 0.5× – 3.3× |
| Price / FCF | -3.1× | 20.5× 2 of 5 years | 19.0× – 22.1× |
| Price / Book | 1.4× | 4.7× | 1.2× – 8.9× |
| FCF yield | -32.2% | -11.6% | -39.5% – 5.3% |
| Return on invested capital | 9.7% | 14.4% | 8.9% – 26.3% |
| Return on equity | 25.1% | 21.2% | 15.4% – 32.5% |
Analysts
Consensus target $42.33 (+28.5%)
range $36.00 – $48.00 · rating Hold
Strong buy0
Buy10
Hold16
Sell2
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $73B | +87.0% | $4.75 | +45.6% | 6.9× | 11 |
| FY2028 | $81.9B | +12.2% | $5.70 | +20.1% | 5.8× | 10 |
| FY2029 | $93.1B | +13.6% | $6.14 | +7.8% | 5.4× | 1 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 295 figures Super Micro Computer, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| – | – | – | $62M | $30.8M | +101.1% | |
| – | – | – | 2.2% | 2.5% | -12.0% | |
| – | – | – | $262M | $224M | +16.9% | |
| – | – | – | $13.3M | $0 | – | |
| Accounts Payable, Current | $2.25B | $1.28B | +75.3% | $2.25B | $1.28B | +75.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $6.13B | $2.2B | +177.9% | $6.13B | $2.2B | +177.9% |
| Accounts Receivable, Allowance for Credit Loss | $109K | $0 | – | $109K | $0 | – |
| Accounts Receivable, Allowance for Credit Loss, Current | $109K | $0 | – | $109K | $0 | – |
| Accounts Receivable, Credit Loss Expense (Reversal) | – | – | – | $470K | -$4K | +11,850.0% |
| Accounts Receivable, Sale | $0 | – | – | $832M | – | – |
| AccountsReceivableExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent | $4.85M | $166M | -97.1% | $4.85M | $166M | -97.1% |
| Accrued Income Taxes, Current | $263M | $53.4M | +392.0% | $263M | $53.4M | +392.0% |
| Accrued Liabilities, Current | $1.03B | $566M | +82.6% | $1.03B | $566M | +82.6% |
| Accrued Marketing Costs, Current | $50.3M | $26.8M | +87.7% | $50.3M | $26.8M | +87.7% |
| Accrued Professional Fees, Current | $27.6M | $8.1M | +240.7% | $27.6M | $8.1M | +240.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $153M | $118M | +29.2% | $153M | $118M | +29.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $397K | $705K | -43.7% | $397K | $705K | -43.7% |
| Advertising Expense | – | – | – | $2M | $38.1M | -94.8% |
| Amortization of Debt Issuance Costs and Discounts | $8.73M | $3.9M | +123.7% | $25.9M | $10.3M | +152.1% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $126M2026-03-31 | $84.9M | +48.3% | $412M | $315M | +30.9% |
| Asset Impairment Charges | $02026-03-31 | $0 | – | – | – | – |
| Assets | $29.9B | $14B | +113.6% | $29.9B | $14B | +113.6% |
| Assets Held-for-sale, Not Part of Disposal Group, Current, Other | $466M | $0 | – | $466M | $0 | – |
| Assets, Current | $27.7B | $12.3B | +125.4% | $27.7B | $12.3B | +125.4% |
| Assets, Fair Value Disclosure | $131M | $8.55M | +1,432.5% | $131M | $8.55M | +1,432.5% |
| Capital Expenditures Incurred but Not yet Paid | $4.36M | -$2.08M | +310.3% | $21.1M | $16.2M | +30.4% |
| Cash and Cash Equivalents, at Carrying Value | $7.52B | $5.17B | +45.5% | $7.52B | $5.17B | +45.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $7.63B | $5.17B | +47.5% | $7.63B | $5.17B | +47.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $6.29B | $2.64B | +138.8% | $2.46B | $3.5B | -29.8% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 1B | 1B | 0.0% | 1B | 1B | 0.0% |
| Common Stock, Shares, Issued | 657M | 594M | +10.6% | 657M | 594M | +10.6% |
| Common Stock, Shares, Outstanding | 657M | 594M | +10.6% | 657M | 594M | +10.6% |
| Common Stocks, Including Additional Paid in Capital | $4.6B | $2.87B | +60.5% | $4.6B | $2.87B | +60.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $1.18B | $195M | +503.5% | $2.23B | $1.05B | +112.6% |
| Contract with Customer, Liability | – | – | – | $731M2025-06-30 | $416M | +75.6% |
| Contract with Customer, Liability, Current | $1.58B | $369M | +327.9% | $1.58B | $369M | +327.9% |
| Contract with Customer, Liability, Noncurrent | $1.03B | $363M | +185.1% | $1.03B | $363M | +185.1% |
| Contract with Customer, Liability, Revenue Recognized | $55.3M | $36.2M | +52.8% | $358M | $190M | +88.3% |
| Convertible Notes Payable, Noncurrent | $4.66B | $4.65B | +0.4% | $4.66B | $4.65B | +0.4% |
| Cost of Revenue | $9.18B | $5.21B | +76.0% | $34.8B | $19.5B | +78.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $417M | $266M | +56.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $143M | $68.5M | +108.6% |
| Current Income Tax Expense (Benefit) | – | – | – | $652M | $371M | +75.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $92M | $36.7M | +150.5% |
| Customer Refund Liability, Current | $136M | $32.9M | +313.7% | $136M | $32.9M | +313.7% |
| Debt Securities, Available-for-sale | $0 | $1.75M | -100.0% | $0 | $1.75M | -100.0% |
| Debt, Long-term and Short-term, Combined Amount | $4.06B | $112M | +3,506.3% | $4.06B | $112M | +3,506.3% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $4.1M2026-03-31 | $3.7M | +10.8% | $4.1M2025-06-30 | $3.2M | +28.1% |
| Deferred Costs, Current | $17.4M | $5.64M | +209.1% | $17.4M | $5.64M | +209.1% |
| Deferred Costs, Noncurrent | $36.6M | $10.7M | +241.3% | $36.6M | $10.7M | +241.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$33.7M | -$161M | +79.1% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$36.5M | -$41.6M | +12.4% |
| Deferred Income Tax Assets, Net | $697M | $607M | +14.8% | $697M | $607M | +14.8% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$95.3M | -$215M | +55.6% |
| Deferred Income Taxes and Tax Credits | -$64.4M | -$80.2M | +19.7% | -$95.4M | -$215M | +55.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$25.1M | -$12M | -109.6% |
| Deferred Tax Assets, Deferred Income | $122M | $64.1M | +90.5% | $122M | $64.1M | +90.5% |
| Deferred Tax Assets, Gross | $916M | $759M | +20.8% | $916M | $759M | +20.8% |
| Deferred Tax Assets, in Process Research and Development | $76M | $76M | -0.1% | $76M | $76M | -0.1% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-K 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-Q 2025-09-30, 10-K 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-Q 2024-09-30, 10-K 2024-06-30
Data as of 2026-11-02