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Super Micro Computer, Inc.

Super Micro Computer, Inc.

NASDAQ•SMCI
CEO: Mr. Charles Liang
Sector: Technology
Industry: Computer Hardware
Listing Date: 2007-03-29
Super Micro Computer, Inc., together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software. The company provides application-optimized server solutions, rackmount and blade servers, storage, and subsystems and accessories; and server software management solutions, such as Server Management Suite, including Supermicro Server Manager, Supermicro Power Management software, Supermicro Update Manager, SuperCloud Composer, and SuperDoctor 5. In addition, it offers server subsystems and accessories comprising server boards, chassis, power supplies, and other accessories. Further, the company provides server and storage system integration, configuration, and software upgrade and update services; and technical documentation services, as well as identifies service requirements, creates and executes project plans, and conducts verification testing and technical documentation, and training services. Additionally, it offers help desk and on-site product support services for its server and storage systems; and customer support services, including ongoing maintenance and technical support for its products. The company provides its products to enterprise data centers, cloud computing, artificial intelligence, and 5G and edge computing markets. It sells its products through direct and indirect sales force, distributors, value-added resellers, system integrators, and original equipment manufacturers. The company was incorporated in 1993 and is headquartered in San Jose, California.
Contact Information
980 Rock Avenue, San Jose, CA, 95131, United States
408-503-8000
www.supermicro.com
Market Cap
$30.88B
P/E (TTM)
29.6
26.9
Dividend Yield
--
52W High
$66.44
52W Low
$17.25
52W Range
71%
4.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q4 2025 Data

Revenue

$5.76B+7.51%
4-Quarter Trend

EPS

$0.33-45.00%
4-Quarter Trend

FCF

$840.94M-228.23%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong Revenue Growth FY2025 Net sales reached $21.97B USD, marking a 46.6% increase driven by GPU server demand. Gross margin fell to 11.1% from 13.8%.
Net Income Decline Despite Sales Net income decreased to $1.05B USD in FY2025 from $1.15B USD, due to 2.7% gross margin percentage drop. Operating expenses rose 38.4%.
Major Debt Issuance Activity Issued $700.0M 2028 Convertible Notes and $2.3B 2030 Convertible Notes during FY2025. Repurchased $200.0M common stock in June 2025.
Strategic Product Sales Shift Subsystems and accessories sales declined 17.9% ($143.6M) due to strategic focus prioritizing high-value server and storage systems.

Risk Factors

Material Internal Control Weaknesses Material weaknesses in IT general controls and segregation of duties resulted in an adverse auditor opinion on ICFR effectiveness. Remediation ongoing.
High Customer Sales Concentration Revenue highly dependent on few large customers; Customer A represented 20.9% of total net sales in FY2025. Loss impacts revenue substantially.
Export Control Regulatory Uncertainty Evolving U.S. export restrictions on advanced computing components create compliance burdens and potential competitive disadvantages.
Critical Supplier Dependency Risk Reliance on limited suppliers is high; Supplier A accounted for 64.4% of total purchases in FY2025. Supply chain disruption risks remain.

Outlook

Continued AI/HPC Solution Focus Strategy centers on delivering application-optimized Total IT Solutions for AI and data centers, leveraging DCBBS for rapid deployment.
Increasing Research Development Spend Expect research and development expenses to continue rising as workforce expands to support innovation in next-generation products and technologies.
FY2026 Capital Expenditure Range Anticipated capital expenditures for fiscal year 2026 range from $180.0M to $200.0M, supporting global manufacturing and IT infrastructure upgrades.
Strong Cash Position Maintained Cash and cash equivalents totaled $5.17B USD as of June 30, 2025; current resources support operations and debt servicing for 12 months.

Peer Comparison

Revenue (TTM)

HP Inc.HPQ
$54.71B
+2.6%
Hewlett Packard Enterprise CompanyHPE
$33.02B
+14.2%
Telefonaktiebolaget LM Ericsson (publ)ERIC
$23.49B
-2.2%

Gross Margin (Latest Quarter)

NetApp, Inc.NTAP
70.5%
-0.7 pp
Pure Storage, Inc.PSTG
70.2%
-0.5 pp
Telefonaktiebolaget LM Ericsson (publ)ERIC
47.6%
+2.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
STX$54.37B31.8-282.7%59.2%
WDC$52.12B20.435.1%32.6%
NOK$37.17B31.34.9%11.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.0%
Flat Growth
4Q Net Income CAGR
-22.8%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years
  • Form 10-K - FY 2025

    Period End: Jun 30, 2025|Filed: Aug 28, 2025|
    Revenue: $21.97B+46.6%
    |
    EPS: $1.77-11.5%
    Beat
  • Form 10-Q - Q3 2025

    Period End: Mar 31, 2025|Filed: May 12, 2025|
    Revenue: $4.60B+19.5%
    |
    EPS: $0.18-74.6%
    Miss
  • Form 10-K - FY 2024

    Period End: Jun 30, 2024|Filed: Feb 25, 2025|
    Revenue: $14.99B+110.4%
    |
    EPS: $2.00+65.3%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Sep 30, 2024|Filed: Feb 25, 2025|
    Revenue: $5.94B+180.1%
    |
    EPS: $0.72+140.0%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Dec 31, 2024|Filed: Feb 25, 2025|
    Revenue: $5.68B+54.9%
    |
    EPS: $0.54-1.8%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Mar 31, 2024|Filed: May 6, 2024|
    Revenue: $3.85B+200.0%
    |
    EPS: $0.71+343.8%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Dec 31, 2023|Filed: Feb 2, 2024|
    Revenue: $3.66B+103.2%
    |
    EPS: $0.55+66.7%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Sep 30, 2023|Filed: Nov 3, 2023|
    Revenue: $2.12B+14.4%
    |
    EPS: $0.30-14.3%
    Miss