Super Micro Computer, Inc. SMCI
We are a Silicon Valley-based provider of total information technology ("IT") solutions which address demanding workloads from the enterprise and cloud to the intelligent edge. We deliver rack-scale solutions optimized for various workloads, including artificial intelligence ("AI") and high-performance computing ("HPC"), where acceleration is critical. Additionally, we offer an extensive portfolio of server and storage solutions for enterprise data centers, cloud service providers ("CSPs"), and edge computing applications, such as 5G Telco, Retail and embedded.
During fiscal year 2026, we advanced our transformation into a total data center infrastructure provider through our Data Center Building Block Solutions® ("DCBBS"), an integrated offering that delivers complete, modular AI infrastructure from validated components and sub-systems, ranging from individual graphics processing units ("GPUs") and networking switches to complete racks, site infrastructure, management software, and professional services. This complements our Total IT Solutions, which encompass complete servers, storage systems, modular blade servers, workstations, full-rack scale solutions, networking devices, server sub-systems and server management. These turn-key solutions are designed, developed, validated and installed for leading AI data centers. Our Total IT Solutions are designed for optimal power and thermal management, including using Supermicro's state-of-the-art liquid cooling technologies. We also provide global support and services to help our customers install, upgrade and maintain their computing infrastructure, including liquid-cooling operations. We offer our customers a high degree of flexibility and customization by providing a broad array of server models and configurations from which they can choose the best solutions to meet their computing needs. Our server and storage systems, sub-systems, and accessories are architecturally designed for high reliability, quality, configurability, and scalability.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $39.06B | $21.97B | $14.99B | $7.12B | $5.20B | $3.56B | $3.34B | $3.50B | $3.36B | $2.48B |
| Cost of revenue | $34.84B | $19.54B | $12.93B | $5.84B | $4.40B | $3.02B | $2.81B | $3.00B | $2.93B | $2.13B |
| Gross profit | $4.23B | $2.43B | $2.06B | $1.28B | $800.0M | $534.5M | $526.2M | $495.5M | $430.0M | $350.0M |
| R&D | $771.2M | $636.5M | $463.5M | $307.3M | $272.3M | $224.4M | $221.5M | $179.9M | $165.1M | $144.0M |
| SG&A | $332.9M | $267.2M | $197.3M | $99.6M | $102.4M | $100.5M | $133.9M | $141.2M | $98.6M | $44.6M |
| Total operating expenses | $1.46B | $1.18B | $850.6M | $521.9M | $464.8M | $410.6M | $440.6M | $398.3M | $335.3M | $255.1M |
| Operating income | $2.77B | $1.25B | $1.21B | $761.1M | $335.2M | $123.9M | $85.7M | $97.2M | $94.7M | $94.9M |
| Interest expense | $194.6M | $59.6M | $19.4M | $10.5M | $6.4M | $2.5M | $2.2M | $6.7M | $5.7M | $2.3M |
| Pre-tax income | $2.79B | $1.21B | $1.21B | $754.3M | $336.8M | $118.6M | $84.8M | $89.5M | $88.2M | $91.6M |
| Income tax | $556.3M | $156.9M | $63.3M | $110.7M | $52.9M | $6.9M | $2.9M | $14.9M | $38.4M | $24.4M |
| Net income | $2.23B | $1.05B | $1.15B | $640.0M | $285.2M | $111.9M | $84.3M | $71.9M | $46.2M | $66.9M |
| EPS, basic | 3.65 | 1.77 | 2.07 | 1.21 | 0.55 | 2.19 | 1.65 | 1.44 | 0.94 | 1.38 |
| EPS, diluted | 3.26 | 1.68 | 1.92 | 1.14 | 0.53 | 2.09 | 1.60 | 1.39 | 0.89 | 1.29 |
| Shares, diluted (wtd. avg.) | $697.3M | $628.4M | $602.1M | $559.7M | $536.2M | $53.5M | $52.8M | $51.7M | $52.2M | $51.7M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.52B | $5.17B | $1.67B | $441.0M | $268.6M | $233.4M | $212.4M | $262.1M | $120.4M | $112.8M |
| Short-term investments | $23.1M | $6.2M | — | — | — | — | — | — | — | — |
| Receivables | $6.13B | $2.20B | $2.74B | $1.15B | $834.5M | $463.8M | $403.7M | $393.6M | $451.4M | $324.0M |
| Inventory | $12.90B | $4.68B | $4.33B | $1.45B | $1.55B | $1.04B | $851.5M | $670.2M | $853.3M | $736.7M |
| Total current assets | $27.73B | $12.30B | $8.93B | $3.18B | $2.81B | $1.87B | $1.59B | $1.42B | $1.53B | $1.26B |
| Property, plant and equipment | $625.6M | $504.5M | $414.0M | $290.2M | $286.0M | $274.7M | $233.8M | $207.3M | $196.6M | $195.6M |
| Total assets | $29.95B | $14.02B | $9.83B | $3.67B | $3.21B | $2.24B | $1.92B | $1.68B | $1.77B | $1.52B |
| Accounts payable | $2.25B | $1.28B | $1.47B | $776.8M | $655.4M | $612.3M | $417.7M | $360.5M | $527.2M | $396.9M |
| Short-term debt | — | — | — | $170.1M | $449.1M | $63.5M | $23.7M | $23.6M | $116.2M | $161.4M |
| Total current liabilities | $7.16B | $2.34B | $2.35B | $1.37B | $1.47B | $968.9M | $707.6M | $606.0M | $811.6M | $672.5M |
| Long-term debt | — | — | — | $120.2M | $147.6M | $34.7M | $5.7M | $0 | — | $0 |
| Total liabilities | $15.47B | $7.72B | $4.41B | $1.70B | $1.78B | $1.15B | $852.9M | $741.4M | $925.9M | $741.3M |
| Retained earnings | $5.65B | $3.43B | $2.59B | $1.43B | $942.9M | $657.8M | $696.2M | $611.9M | $532.3M | $486.0M |
| Total equity | $14.48B | $6.30B | $5.42B | $1.97B | $1.43B | $1.10B | $1.07B | $941.2M | $843.7M | $773.8M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.81B | $1.66B | -$2.49B | $663.6M | -$440.8M | $123.0M | -$30.3M | $262.6M | $84.3M | -$96.2M |
| Depreciation and amortisation | $53.0M | $41.0M | $30.1M | $26.9M | $24.8M | $28.2M | $28.5M | $24.2M | $21.8M | $16.4M |
| Stock-based compensation | $412.1M | $314.5M | $231.5M | $54.4M | $32.8M | $28.5M | $20.2M | $21.2M | $24.7M | $19.7M |
| Capital expenditure | $162.0M | $127.2M | $124.3M | $36.8M | $45.2M | $58.0M | $44.3M | $24.8M | $24.8M | $29.4M |
| Investing cash flow | -$200.3M | -$183.2M | -$194.2M | -$39.5M | -$46.3M | -$58.0M | -$43.6M | -$24.8M | -$25.9M | -$29.4M |
| Financing cash flow | $9.48B | $2.02B | $3.91B | -$448.3M | $522.9M | -$44.4M | $23.8M | -$95.8M | -$50.8M | $57.7M |
| Buybacks | — | — | — | — | — | — | — | $0 | $0 | $18.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001375365-26-000022.
Others in SIC 3571
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| AAPL | Apple Inc. | $4.67T | 42.9x | 6.4% |
| DELL | Dell Technologies Inc. | $340.17B | 60.4x | 18.8% |
| OMCL | OMNICELL, INC. | $1.57B | 859.2x | 6.5% |
| OSS | ONE STOP SYSTEMS, INC. | $248.7M | 45.3x | 31.2% |
| SCKT | SOCKET MOBILE, INC. | $5.1M | — | -19.6% |
| ZEPP | Zepp Health Corp | — | — | 41.8% |
| XNDU | Xanadu Quantum Technologies Ltd | — | — | — |