SMCISupermicro
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. 10-K, Item 1
- Employees
- 7,000
- Headquarters
- San Jose, CA
- CEO
- Charles Liang
- Next results
- around Feb 2, 2027
All key numbers (41) From EDGAR
| EPS (ttm) | 4.75 | Sales (ttm) | 54.0B | Net income (ttm) | 3.7B | Sales growth | +77.8% | EPS growth | +94.0% | Sales Q/Q | +298% |
| Free cash flow | -6.5B | Gross margin | 11.7% | Oper. margin | 8.6% | Net margin | 6.8% | FCF margin | -12.0% | ROE | 22.8% |
| ROA | 10.2% | R&D / sales | 2.0% | Dividend | - | Debt/Eq | 0.25 | Curr. ratio | 3.02 | Cash | 6.9B |
| Op. cash flow (ttm) | -6.3B | EBITDA | 2.8B | EBITDA margin | 7.2% | Net debt | -2.9B | Quick ratio | 1.86 | Interest cover | 14.24 |
| ROIC | 11.1% | Tax rate | 19.9% | Stock pay / sales | 1.1% | Shares out. | 659.2M | Shares Y/Y | +11.0% | Book / share | 24.37 |
| Cash / share | 10.46 | Sales / share | 81.90 | Asset turnover | 1.51 | Inventory turns | 2.70 | Days sales out. | 57 | Sales 3Y CAGR | +76.3% |
| Sales 5Y CAGR | +61.5% | EPS 3Y CAGR | +41.9% | EPS 5Y CAGR | +73.2% | Employees | 7,000 | Sales / employee | 7.7M |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
Changes in the numbers
FY2026 against FY2025-
Debt rose from $112.5M to $4.1B$112.5M → $4.1B · Short-term + long-term debt at year end
-
Free cash flow turned negative$1.5B → −$7.0B · Cash from operations − capital expenditure · 10-K ↗
-
Revenue growth sped up to +77.8%+46.6% → +77.8% · Revenue FY2026 / revenue FY2025 − 1, against the same a year earlier · 10-K ↗
SMCI against Technology peers
Ten years, side by side → · All 75 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| SMCI Supermicro | $54.0B | +77.8% | 11.7% | 6.8% | 22.8% | -12.0% | 0.25 |
| CSCO Cisco | $63.3B | +11.8% | 64.5% | 21.0% | 26.4% | 20.2% | 0.59 |
| INTC Intel | $59.9B | -0.5% | 39.9% | -20.1% | -10.5% | 6.3% | 0.44 |
| HPQ HP Inc. | $59.2B | +3.2% | 19.9% | 4.1% | - | 6.6% | - |
| AMD Advanced Micro Devices | $45.4B | +34.3% | 53.7% | 16.8% | 11.1% | 15.5% | 0.10 |
| CRM Salesforce | $43.9B | +9.6% | 77.3% | 22.0% | 25.2% | 34.5% | 1.02 |
From $5.2B of sales to $285.2M of profit
FY2022, from the 10-K income statementSwipe sideways for the whole flow →
From $7.1B of sales to $640.0M of profit
FY2023, from the 10-K income statement and revenue by regionSwipe sideways for the whole flow →
From $15.0B of sales to $1.2B of profit
FY2024, from the 10-K income statement and revenue by regionSwipe sideways for the whole flow →
From $22.0B of sales to $1.0B of profit
FY2025, from the 10-K income statement and revenue by regionSwipe sideways for the whole flow →
From $39.1B of sales to $2.2B of profit
FY2026, from the 10-K income statement and revenue by regionSwipe sideways for the whole flow →
Where each $100 of sales went
- Cost of revenue
- R&D
- Sales, admin & other
- Tax & other
- Net profit
Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →
Profitability
2 of 4- !Net margin below the peer median6.8% vs 19.1%
- !Gross margin down over 5 years15.0% → 10.8%
- ✓Return on equity above 15%22.8%
- ✓A profit in every one of 10 years
Balance sheet
4 of 4- ✓Interest covered more than 5 timesOperating income is 14.2× interest expense
- ✓Debt smaller than equityDebt / equity 0.25 on the latest balance sheet (peer median 0.46)
- ✓Current assets cover current liabilitiesCurrent ratio 3.02
- ✓More cash than debtNet cash $2.9B
Cash and shareholders
0 of 3- !Free cash flow positive in 5 of 10 years−$7.0B last year
- !Share count up over 5 years+30.3%
- !Cash from operations below net income−$6.8B vs $2.2B
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
What the debt is made of, and when it is due
balance sheet of Sep 30, 2026The debt note's own lines, 2026-06-30
| Line, as the company names it | Kind | Rate | Fixed or floating | Amount |
|---|---|---|---|---|
| 2030 Convertible Notes (Convertible Notes Payable) | Convertible | 0.39% | not stated | $2.3B |
| 2029 Convertible Notes (Convertible Notes Payable) | Convertible | 3.86% | not stated | $1.7B |
| 2028 Convertible Notes (Convertible Notes Payable) | Convertible | 2.97% | not stated | $690.0M |
From the debt note in the 10-K's XBRL (0001375365-26-000022), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.
Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →
Revenue and net income, FY2017 to FY2026
Revenue 39.1B Net income 2.2BFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
SMCI's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
Revenue by product or service
year to Jun 30, 2026| Revenue | Share | vs year before | |
|---|---|---|---|
| Service and Software | 538.3M | 1.4% | +62.9% |
| Service | 420.3M | 1.1% | +88.4% |
10-K 0001375365-26-000022, segment and revenue notes (XBRL).
Revenue by region
year to Jun 30, 2026| Revenue | Share | vs year before | |
|---|---|---|---|
| United States | 27.7B | 70.9% | +112% |
| Asia | 6.1B | 15.5% | +10.4% |
| Europe | 2.7B | 6.8% | -1.9% |
| Other | 2.6B | 6.7% | +277% |
10-K 0001375365-26-000022, segment and revenue notes (XBRL).
Income statement
From EDGARBalance sheet
From EDGAR| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash | 110.6M | 115.4M | 248.2M | 210.5M | 232.3M | 267.4M | 440.5M | 1.7B | 5.2B | 7.5B |
| Short-term investments | - | - | - | - | - | - | - | - | 6.2M | 23.1M |
| Receivables | 324.0M | 451.4M | 393.6M | 403.7M | 463.8M | 834.5M | 1.1B | 2.7B | 2.2B | 6.1B |
| Inventory | 736.7M | 853.3M | 670.2M | 851.5M | 1.0B | 1.5B | 1.4B | 4.3B | 4.7B | 12.9B |
| Current assets | 1.3B | 1.5B | 1.4B | 1.6B | 1.9B | 2.8B | 3.2B | 8.9B | 12.3B | 27.7B |
| Property & equipment | 195.6M | 196.6M | 207.3M | 233.8M | 274.7M | 286.0M | 290.2M | 414.0M | 504.5M | 625.6M |
| Total assets | 1.5B | 1.8B | 1.7B | 1.9B | 2.2B | 3.2B | 3.7B | 9.8B | 14.0B | 29.9B |
| Accounts payable | 396.9M | 527.2M | 360.5M | 417.7M | 612.3M | 655.4M | 776.8M | 1.5B | 1.3B | 2.2B |
| Current liabilities | 672.5M | 811.6M | 606.0M | 707.6M | 968.9M | 1.5B | 1.4B | 2.3B | 2.3B | 7.2B |
| Total debt | 161.4M | 116.2M | 23.6M | 29.4M | 98.2M | 596.8M | 290.3M | 476.4M | 112.5M | 4.1B |
| Total liabilities | 741.3M | 925.9M | 741.4M | 852.9M | 1.1B | 1.8B | 1.7B | 4.4B | 7.7B | 15.5B |
| Shareholders' equity | 773.7M | 843.5M | 941.0M | 1.1B | 1.1B | 1.4B | 2.0B | 5.4B | 6.3B | 14.5B |
| Retained earnings | 486.0M | 532.3M | 611.9M | 696.2M | 657.8M | 942.9M | 1.4B | 2.6B | 3.4B | 5.7B |
Cash flow
From EDGAR| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -96.2M | 84.3M | 262.6M | -30.3M | 123.0M | -440.8M | 663.6M | -2.5B | 1.7B | -6.8B |
| Capital spending | 29.4M | 24.8M | 24.8M | 44.3M | 58.0M | 45.2M | 36.8M | 124.3M | 127.2M | 162.0M |
| Free cash flow | -125.6M | 59.5M | 237.7M | -74.7M | 64.9M | -486.0M | 626.8M | -2.6B | 1.5B | -7.0B |
| Stock-based pay (added back) | 19.7M | 24.7M | 21.2M | 20.2M | 28.5M | 32.8M | 54.4M | 231.5M | 314.5M | 412.1M |
| Buybacks | 18.5M | 0 | 0 | - | - | - | - | - | - | - |
| Acquisitions | - | - | - | - | 0 | 0 | 2.2M | 296K | 0 | 0 |
| Debt raised | 207.0M | 107.3M | 41.8M | 164.8M | 127.1M | 1.2B | 1.1B | 2.2B | 1.4B | 4.5B |
| Debt repaid | 140.5M | 220.3M | 67.7M | 159.2M | 60.6M | 640.7M | 1.4B | 2.0B | 1.8B | 520.5M |
| Investing cash flow | -29.4M | -25.9M | -24.8M | -43.6M | -58.0M | -46.3M | -39.5M | -194.2M | -183.2M | -200.3M |
| Financing cash flow | 57.7M | -50.8M | -95.8M | 23.8M | -44.4M | 522.9M | -448.3M | 3.9B | 2.0B | 9.5B |
Stock-based pay and leases
From EDGAR| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based pay (expense) | 19.7M | 24.7M | 21.2M | 20.2M | 28.5M | 32.8M | 54.4M | 231.5M | 314.5M | 412.1M |
| Stock-based pay / revenue | 0.8% | 0.7% | 0.6% | 0.6% | 0.8% | 0.6% | 0.8% | 1.5% | 1.4% | 1.1% |
| Operating lease cost | - | - | - | 7.0M | 7.8M | 8.3M | 8.3M | 10.0M | 23.0M | 59.8M |
| Operating lease cash paid | - | - | - | 6.4M | 8.0M | 8.0M | 8.3M | 9.3M | 17.8M | 52.1M |
| Finance lease principal paid | - | - | - | 138K | - | - | - | - | - | - |
| Right-of-use assets | - | - | 0 | 23.8M | 20.0M | 23.7M | 18.9M | 34.6M | 293.7M | 521.3M |
| Operating lease liabilities | - | - | 15.2M | 24.4M | 20.9M | 23.8M | 19.2M | 35.4M | 301.6M | 539.6M |
From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.
Work on SMCI in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
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