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Super Micro Computer, Inc. (SMCI) USD

At a glance: strengths & risks
✓Revenue growing (+47%)✓Net cash balance sheet✓Cheaper than own history (EV/EBITDA 10.0 vs avg 25.1)✗Margins compressing (8%→6%)

Sector: United States — large cap (SEC filings)

US_SMCI

Price chart

27.73 USDDay 7.90%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
27.73 USD · 7.90%
Market cap
16.5 bn USD

Growth

Δ revenue y/y
122.7%
Δ EBITDA y/y
305.5%

Multiples

P/E (LTM)
13.2x
3y avg: 31.0x
P/B (FY)
2.6x
P/E (ann.)
8.5x
EV/EBITDA (LTM)
10.0x
3y avg: 25.1x
EV/EBITDA (ann.)
6.1x

Cash return

Dividend yield
—
FCF yield (LTM)
-7.7%

Value creation

fundamental value/yr, % of market cap
Value created / year
+2.2%
↓ details

Liquidity

Daily turnover (US listing)
1 bln USD

Shares: yahoo_fundamentals_timeseries/SMCI

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK10.2
y/y 122.7%
0.6
y/y 326.4%
0.0
y/y 23.9%
0.6
y/y 305.5%
0.5
y/y 344.4%
-6.6-0.123.5
y/y 118.4%
7.6
y/y 18.7%
8.8%-0.9Link
2025-12-31Q4 2025 (3M)OK12.7
y/y 123.4%
0.5
y/y 28.7%
0.0
y/y 34.7%
0.5
y/y 28.8%
0.4
y/y 24.9%
0.00.028.0
y/y 187.8%
7.0
y/y 12.1%
23.7%-3.7Link
2025-09-30Q3 2025 (3M)OK5.0
y/y -15.5%
0.2
y/y -64.2%
0.0
y/y 34.4%
0.2
y/y -62.5%
0.2
y/y -60.3%
-0.90.014.4
y/y 32.6%
6.5
y/y 11.0%
10.5%-3.8Link
2025-06-30Q2 2025 (3M)OK5.8
y/y 7.5%
0.2
y/y -20.8%
0.0
y/y 41.5%
0.2
y/y -19.1%
0.2
y/y -34.3%
0.90.014.0
y/y 42.7%
6.3
y/y 16.3%
16.5%-4.9Link
2025-03-31Q1 2025 (3M)OK4.6
y/y 19.5%
0.1
y/y -61.2%
0.0
y/y 41.6%
0.2
y/y -59.2%
0.1
y/y -73.0%
0.60.010.7
y/y 21.2%
6.4
y/y 25.2%
2.3%-2.4Link
2024-12-31Q4 2024 (3M)OK5.7
y/y 54.9%
0.4
y/y -0.8%
0.0
y/y 31.9%
0.4
y/y -0.1%
0.3
y/y 8.3%
-0.20.09.7
y/y 80.0%
6.2
y/y 102.7%
21.2%-1.4Link
2024-09-30Q3 2024 (3M)OK5.9
y/y 180.1%
0.5
y/y 195.2%
0.0
y/y 28.6%
0.5
y/y 188.7%
0.4
y/y 170.3%
0.40.010.9
y/y 164.9%
5.9
y/y 171.4%
30.1%-2.1Link
2024-06-30Q2 2024 (3M)OK5.4
y/y —
0.3
y/y —
0.0
y/y —
0.3
y/y —
0.3
y/y —
-0.60.09.8
y/y 167.4%
5.4
y/y 174.7%
21.9%-1.6Link
2024-03-31Q1 2024 (3M)OK3.9
y/y 200.0%
0.4
y/y 281.8%
0.0
y/y -11.9%
0.4
y/y 258.0%
0.4
y/y 368.8%
-1.5-0.18.9
y/y 177.6%
5.1
y/y 188.1%
13.1%-2.0Link
2023-12-31Q4 2023 (3M)OK3.7
y/y —
0.4
y/y —
0.0
y/y —
0.4
y/y —
0.3
y/y —
-0.60.05.4
y/y —
3.1
y/y —
45.2%-0.6Link
2023-09-30Q3 2023 (3M)OK2.1
y/y —
0.2
y/y —
0.0
y/y —
0.2
y/y —
0.2
y/y —
0.30.04.1
y/y —
2.2
y/y —
30.4%-0.4Link
2023-06-30FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
——3.7
y/y —
2.0
y/y —
34.2%-0.2Link
2023-03-31Q1 2023 (3M)OK1.3
y/y —
0.1
y/y —
0.0
y/y —
0.1
y/y —
0.1
y/y —
0.20.03.2
y/y —
1.8
y/y —
—-0.2Link

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)33
Long-term debt (incl. LT leases)345
− Cash & equivalents1 290
Net debt-912

Net debt / LTM EBITDA: -0.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-5 00005 00010 00015 0002023 q32023 q42024 q12024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%0%200%400%2023 q32023 q42024 q12024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-8 000-6 000-4 000-2 00002 0002023 q32023 q42024 q12024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-5 000-4 000-3 000-2 000-1 00002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -3.2%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-31 vs 2025-03-31)
= (639 − 333) × 2.79
213
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (16 462 + -912) ÷ 1 782
8.7x
3. Target multiple
(Current EV/EBITDA + 12) ÷ 2
= (8.7 + 12) ÷ 2
10.4x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -1 468 + 0 + 0 − 0
-1 468
4b. Share dilution (at market, LTM)
Share-count growth over the year × Market cap
= 7.7% × 16 462
−1 272
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (213 × 10.4 + -1 468 − 1 272) ÷ 16 462
-3.2%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • base 2025-03-31 normalized for growth: margin 3.4% << typical 7.2% -> base EBITDA 158->333 (vs normal-margin base, not the trough)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only
  • share-count dilution 7.7%/yr (valued at market: -1272)
  • growth discounted x0.25: EBITDA grew but net profit FELL while net debt rose - debt-funded growth not reaching equity (interest drag)

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +47% vs +110% the year before — a -63.8 pp move. 3-year CAGR +62%.
revenue growth by year: 2023 +37% · 2024 +110% · 2025 +47%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 0.4x · 3-year average 37.9x

EV/EBITDA3-year 75th pct

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Super Micro Computer, Inc. (SMCI) — from primary filings.

Makes high-performance servers and storage systems, notably for AI and data centers.

Frequently asked questions

What is Super Micro Computer, Inc. (SMCI)'s P/E ratio?
Super Micro Computer, Inc. (SMCI) trades at a P/E of 13.2x (price to trailing 12-month earnings).
What is Super Micro Computer, Inc. (SMCI)'s EV/EBITDA?
Super Micro Computer, Inc. (SMCI) trades at 10.0x EV/EBITDA.
What is Super Micro Computer, Inc. (SMCI)'s P/B ratio?
Super Micro Computer, Inc. (SMCI) trades at a P/B of 2.6x.
What is Super Micro Computer, Inc. (SMCI)'s return on equity (ROE)?
Super Micro Computer, Inc. (SMCI)'s ROE is 8.8%.
What is Super Micro Computer, Inc. (SMCI)'s market capitalization?
Super Micro Computer, Inc. (SMCI)'s market cap is 16.5 bn USD.