SMCI Technology

Super Micro Computer, Inc.

$31.39+3.12%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Technology
Industry: Computer Hardware
Country: United States
Market cap: 20.6B USD
Enterprise value: 22.0B USD
Full-time employees: 7,000

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: growing faster than most peersgrowing faster than peers
Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 2.00 vs a peer median of 0.87)bigger price swings (beta 2.00 vs peers 0.87)
Drawback: more debt relative to equity (0.60× vs a peer median of 0.25×)more debt vs equity (0.60× vs peers 0.25×)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #170 of 1,612 technology companies (top 11%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Super Micro Computer reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Profit growing, cash flow isn't. Profit +249% since FY Jun 2023, operating cash flow −1126%.
Super Micro Computer's reported profit rose 249% since FY Jun 2023, but the cash its operations generate changed −1126%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).Super Micro Computer's reported profit rose 249% since FY Jun 2023, but the cash its operations generate changed −1126%. When profit and cash diverge like this, it's worth understanding why.
Shareholders being diluted. Shares outstanding up 24% from June 2023 to July 2026.
Super Micro Computer had 24% more shares at July 2026 than at June 2023, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Super Micro Computer had 24% more shares at July 2026 than at June 2023, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Borrowing rising faster than profit. Since FY Jun 2023: debt +2904%, operating profit +264%.
Super Micro Computer's debt grew 2904% since FY Jun 2023 while operating profit changed +264%.

StockQuotient Score

72/ 100

Oct 5 70 → Nov 4 72 (+2)

Valuation

Is the price right?

88/100

Strong▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 9.2% (existing holders diluted)

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 87 → 88

Share price -10.5%+3
Company's reported figures updated-1
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Earnings yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield10.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile30% base weight · Z-score 3.44Sector median: 0.0225 · MAD: 0.0225

EBITDA yield12.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 2.41Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield-33.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield70.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

97/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 15.9%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth92.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.66Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth76.3%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.42Sector median: 0.0483 · MAD: 0.0793

Revenue growth77.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.89Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

66/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.6 points to 7.1%

Why

Stronger than most peers on:

▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin7.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.11Sector median: 0.0631 · MAD: 0.0710

Return on assets7.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.25Sector median: 0.0293 · MAD: 0.0362

Return on invested capital14.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.84Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin10.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity15.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Current ratio
▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.00

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.04Sector median: 0.8710 · MAD: 0.3700

Current ratio3.87×

SEC filings · latest balance sheetReported value33% base weight · Z-score 2.98Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.60×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.55Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Super Micro Computer

Is Super Micro Computer getting weaker?: Its latest SEC filing (Aug 31, 2026) was mixed: some things better, some worse: operating margin rose 2.6 points to 7.1%; share count up 9.2%. Its overall score is unchanged at 72/100 since Oct 28, 2026.
How is Super Micro Computer valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 88/100 against 1,711 technology peers. Earnings yield 10.8% vs a peer median of 2.2% (stronger than 95% of peers).Earnings yield 10.8% vs peers 2.2% (stronger than 95% of peers). Free cash flow yield -33.8% vs a peer median of 2.7% (weaker than 100% of peers).Free cash flow yield -33.8% vs peers 2.7% (weaker than 100% of peers).
Is Super Micro Computer growing?: Yes, faster than most of its peers. Growth scores 97/100 against 1,711 technology peers. 3-year revenue growth 76.3% vs a peer median of 4.8% (stronger than 95% of peers).3-year revenue growth 76.3% vs peers 4.8% (stronger than 95% of peers).
How profitable is Super Micro Computer?: More profitable than most of its peers. Profitability scores 66/100 against 1,711 technology peers. Return on assets 7.4% vs a peer median of 2.9% (stronger than 78% of peers).Return on assets 7.4% vs peers 2.9% (stronger than 78% of peers).
How risky is Super Micro Computer?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 3.87× vs a peer median of 1.83× (stronger than 84% of peers).Current ratio 3.87× vs peers 1.83× (stronger than 84% of peers). Beta 2.00 vs a peer median of 0.87 (weaker than 93% of peers).Beta 2.00 vs peers 0.87 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 31, 2026 · compared with the quarter ended Mar 31, 2026

Mixed: some things better, some worse

Operating margin rose 2.6 points to 7.1%
Share count up 9.2% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	33.7B USD	39.1B USD	+15.9%
Net income (12 months)	1.2B USD	2.2B USD	+78.8%
Operating margin	4.5%	7.1%	+2.6 pts
Free cash flow (12 months)	−6.8B USD	−7.0B USD	+1.8%
Debt	8.8B USD	8.7B USD	−0.6%
Cash	1.3B USD	7.5B USD	+482.9%
Shares outstanding	601.4M	657.0M	+9.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Technology · 320 companies

Valuations in Technology are above their usual range since 2016.

70% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +5% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +68% vs the whole market, against a usual +58%.

2016Shaded: most expensive fifth of its range2026

Shown for Technology: too few Computer Hardware companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Jun 2022	FY Jun 2023	FY Jun 2024	FY Jun 2025	FY Jun 2026	Change
Gross margin	15.4%	18.0%	13.8%	11.1%	10.8%	▼ 0.2 pts
Operating margin	6.5%	10.7%	8.1%	5.7%	7.1%	▲ 1.4 pts
Net margin	5.5%	9.0%	7.7%	4.8%	5.7%	▲ 0.9 pts
Return on assets (ROA)	8.9%	17.4%	11.7%	7.5%	7.4%	▼ 0.0 pts
Return on equity (ROE)	20.0%	32.5%	21.3%	16.6%	15.4%	▼ 1.2 pts
Free cash flow margin	-9.4%	8.8%	-17.4%	7.0%	-17.8%	▼ 25 pts
Current ratio	1.91×	2.31×	3.81×	5.25×	3.87×	▼ 26%
Quick ratio	0.86×	1.26×	1.96×	3.25×	2.07×	▼ 36%
Debt to equity	0.42×	0.15×	0.40×	0.75×	0.60×	▼ 20%
Interest coverage	52.26×	72.55×	62.57×	21.03×	14.24×	▼ 32%

SMCI price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: growing faster than most peersgrowing faster than peers

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 2.00 vs a peer median of 0.87)bigger price swings (beta 2.00 vs peers 0.87)

Drawback: more debt relative to equity (0.60× vs a peer median of 0.25×)more debt vs equity (0.60× vs peers 0.25×)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #170 of 1,612 technology companies (top 11%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Super Micro Computer reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Profit growing, cash flow isn't. Profit +249% since FY Jun 2023, operating cash flow −1126%.

Super Micro Computer's reported profit rose 249% since FY Jun 2023, but the cash its operations generate changed −1126%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).Super Micro Computer's reported profit rose 249% since FY Jun 2023, but the cash its operations generate changed −1126%. When profit and cash diverge like this, it's worth understanding why.

Shareholders being diluted. Shares outstanding up 24% from June 2023 to July 2026.

Super Micro Computer had 24% more shares at July 2026 than at June 2023, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Super Micro Computer had 24% more shares at July 2026 than at June 2023, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Borrowing rising faster than profit. Since FY Jun 2023: debt +2904%, operating profit +264%.

Super Micro Computer's debt grew 2904% since FY Jun 2023 while operating profit changed +264%.

Questions investors ask about Super Micro Computer

Is Super Micro Computer getting weaker?

Its latest SEC filing (Aug 31, 2026) was mixed: some things better, some worse: operating margin rose 2.6 points to 7.1%; share count up 9.2%. Its overall score is unchanged at 72/100 since Oct 28, 2026.

How is Super Micro Computer valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 88/100 against 1,711 technology peers. Earnings yield 10.8% vs a peer median of 2.2% (stronger than 95% of peers).Earnings yield 10.8% vs peers 2.2% (stronger than 95% of peers). Free cash flow yield -33.8% vs a peer median of 2.7% (weaker than 100% of peers).Free cash flow yield -33.8% vs peers 2.7% (weaker than 100% of peers).

Is Super Micro Computer growing?

Yes, faster than most of its peers. Growth scores 97/100 against 1,711 technology peers. 3-year revenue growth 76.3% vs a peer median of 4.8% (stronger than 95% of peers).3-year revenue growth 76.3% vs peers 4.8% (stronger than 95% of peers).

How profitable is Super Micro Computer?

More profitable than most of its peers. Profitability scores 66/100 against 1,711 technology peers. Return on assets 7.4% vs a peer median of 2.9% (stronger than 78% of peers).Return on assets 7.4% vs peers 2.9% (stronger than 78% of peers).

How risky is Super Micro Computer?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 3.87× vs a peer median of 1.83× (stronger than 84% of peers).Current ratio 3.87× vs peers 1.83× (stronger than 84% of peers). Beta 2.00 vs a peer median of 0.87 (weaker than 93% of peers).Beta 2.00 vs peers 0.87 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

33.7B USD

39.1B USD

+15.9%

Net income (12 months)

1.2B USD

2.2B USD

+78.8%

Operating margin

4.5%

7.1%

+2.6 pts

Free cash flow (12 months)

−6.8B USD

−7.0B USD

+1.8%

Debt

8.8B USD

8.7B USD

−0.6%

Cash

1.3B USD

7.5B USD

+482.9%

Shares outstanding

601.4M

657.0M

+9.2%

Key ratios

FY Jun 2022

FY Jun 2023

FY Jun 2024

FY Jun 2025

FY Jun 2026

Change

Gross margin

15.4%

18.0%

13.8%

11.1%

10.8%

▼ 0.2 pts

Operating margin

6.5%

10.7%

8.1%

5.7%

7.1%

▲ 1.4 pts

Net margin

5.5%

9.0%

7.7%

4.8%

5.7%

▲ 0.9 pts

Return on assets (ROA)

8.9%

17.4%

11.7%

7.5%

7.4%

▼ 0.0 pts

Return on equity (ROE)

20.0%

32.5%

21.3%

16.6%

15.4%

▼ 1.2 pts

Free cash flow margin

-9.4%

8.8%

-17.4%

7.0%

-17.8%

▼ 25 pts

Current ratio

1.91×

2.31×

3.81×

5.25×

3.87×

▼ 26%

Quick ratio

0.86×

1.26×

1.96×

3.25×

2.07×

▼ 36%

Debt to equity

0.42×

0.15×

0.40×

0.75×

0.60×

▼ 20%

Interest coverage

52.26×

72.55×

62.57×

21.03×

14.24×

▼ 32%