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SUPER MICRO COMPUTER INC (SMCI) Stock Fundamental Analysis

NASDAQ:SMCI - Nasdaq - US86800U3023 - Common Stock

32.45  +1.63 (+5.29%)

After market: 32.98 +0.53 (+1.63%)

Fundamental Rating

6

Taking everything into account, SMCI scores 6 out of 10 in our fundamental rating. SMCI was compared to 32 industry peers in the Technology Hardware, Storage & Peripherals industry. SMCI scores excellent on profitability, but there are some minor concerns on its financial health. SMCI is not priced too expensively while it is growing strongly. Keep and eye on this one! This makes SMCI very considerable for growth investing!


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year SMCI was profitable.
In the past year SMCI has reported a negative cash flow from operations.
SMCI had positive earnings in each of the past 5 years.
In multiple years SMCI reported negative operating cash flow during the last 5 years.
SMCI Yearly Net Income VS EBIT VS OCF VS FCFSMCI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

1.2 Ratios

SMCI has a better Return On Assets (11.84%) than 87.10% of its industry peers.
With an excellent Return On Equity value of 20.59%, SMCI belongs to the best of the industry, outperforming 87.10% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 14.50%, SMCI is in the better half of the industry, outperforming 70.97% of the companies in the same industry.
SMCI had an Average Return On Invested Capital over the past 3 years of 20.84%. This is above the industry average of 16.39%.
The last Return On Invested Capital (14.50%) for SMCI is well below the 3 year average (20.84%), which needs to be investigated, but indicates that SMCI had better years and this may not be a problem.
Industry RankSector Rank
ROA 11.84%
ROE 20.59%
ROIC 14.5%
ROA(3y)12.82%
ROA(5y)9.57%
ROE(3y)24.85%
ROE(5y)18.53%
ROIC(3y)20.84%
ROIC(5y)15.54%
SMCI Yearly ROA, ROE, ROICSMCI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

SMCI has a better Profit Margin (8.88%) than 83.87% of its industry peers.
In the last couple of years the Profit Margin of SMCI has grown nicely.
SMCI's Operating Margin of 9.72% is fine compared to the rest of the industry. SMCI outperforms 77.42% of its industry peers.
SMCI's Operating Margin has improved in the last couple of years.
The Gross Margin of SMCI (15.97%) is worse than 83.87% of its industry peers.
In the last couple of years the Gross Margin of SMCI has remained more or less at the same level.
Industry RankSector Rank
OM 9.72%
PM (TTM) 8.88%
GM 15.97%
OM growth 3Y34.46%
OM growth 5Y24.98%
PM growth 3Y37%
PM growth 5Y31.52%
GM growth 3Y-2.02%
GM growth 5Y-0.03%
SMCI Yearly Profit, Operating, Gross MarginsSMCI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so SMCI is creating value.
Compared to 1 year ago, SMCI has more shares outstanding
The number of shares outstanding for SMCI has been increased compared to 5 years ago.
SMCI has a worse debt/assets ratio than last year.
SMCI Yearly Shares OutstandingSMCI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
SMCI Yearly Total Debt VS Total AssetsSMCI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

An Altman-Z score of 5.86 indicates that SMCI is not in any danger for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 5.86, SMCI belongs to the top of the industry, outperforming 83.87% of the companies in the same industry.
A Debt/Equity ratio of 0.35 indicates that SMCI is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.35, SMCI is in line with its industry, outperforming 58.06% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF N/A
Altman-Z 5.86
ROIC/WACC1.25
WACC11.56%
SMCI Yearly LT Debt VS Equity VS FCFSMCI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B 5B

2.3 Liquidity

A Current Ratio of 4.69 indicates that SMCI has no problem at all paying its short term obligations.
The Current ratio of SMCI (4.69) is better than 90.32% of its industry peers.
SMCI has a Quick Ratio of 2.29. This indicates that SMCI is financially healthy and has no problem in meeting its short term obligations.
SMCI has a better Quick ratio (2.29) than 87.10% of its industry peers.
Industry RankSector Rank
Current Ratio 4.69
Quick Ratio 2.29
SMCI Yearly Current Assets VS Current LiabilitesSMCI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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8

3. Growth

3.1 Past

SMCI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 85.45%, which is quite impressive.
Measured over the past years, SMCI shows a very strong growth in Earnings Per Share. The EPS has been growing by 66.56% on average per year.
The Revenue has grown by 109.77% in the past year. This is a very strong growth!
The Revenue has been growing by 33.68% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)85.45%
EPS 3Y106.48%
EPS 5Y66.56%
EPS Q2Q%78.06%
Revenue 1Y (TTM)109.77%
Revenue growth 3Y61.35%
Revenue growth 5Y33.68%
Sales Q2Q%142.95%

3.2 Future

SMCI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.17% yearly.
SMCI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.60% yearly.
EPS Next Y35.72%
EPS Next 2Y30.21%
EPS Next 3Y17.17%
EPS Next 5YN/A
Revenue Next Year66.95%
Revenue Next 2Y41.57%
Revenue Next 3Y30.15%
Revenue Next 5Y9.6%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SMCI Yearly Revenue VS EstimatesSMCI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
SMCI Yearly EPS VS EstimatesSMCI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 14.82, SMCI is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of SMCI indicates a somewhat cheap valuation: SMCI is cheaper than 77.42% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.29, SMCI is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 10.91, the valuation of SMCI can be described as reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of SMCI indicates a rather cheap valuation: SMCI is cheaper than 80.65% of the companies listed in the same industry.
SMCI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.44.
Industry RankSector Rank
PE 14.82
Fwd PE 10.91
SMCI Price Earnings VS Forward Price EarningsSMCI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

67.74% of the companies in the same industry are more expensive than SMCI, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 14.99
SMCI Per share dataSMCI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of SMCI may justify a higher PE ratio.
A more expensive valuation may be justified as SMCI's earnings are expected to grow with 17.17% in the coming years.
PEG (NY)0.41
PEG (5Y)0.22
EPS Next 2Y30.21%
EPS Next 3Y17.17%

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0

5. Dividend

5.1 Amount

No dividends for SMCI!.
Industry RankSector Rank
Dividend Yield N/A

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SUPER MICRO COMPUTER INC

NASDAQ:SMCI (1/21/2025, 6:52:53 PM)

After market: 32.98 +0.53 (+1.63%)

32.45

+1.63 (+5.29%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)11-05 2024-11-05/amc
Earnings (Next)02-04 2025-02-04/amc
Inst Owners57.56%
Inst Owner Change0.55%
Ins Owners11.64%
Ins Owner Change1.12%
Market Cap19.00B
Analysts68.89
Price Target40.91 (26.07%)
Short Float %15.77%
Short Ratio0.91
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.89%
Min EPS beat(2)11.05%
Max EPS beat(2)12.74%
EPS beat(4)4
Avg EPS beat(4)12.54%
Min EPS beat(4)10.03%
Max EPS beat(4)16.33%
EPS beat(8)7
Avg EPS beat(8)14.01%
EPS beat(12)11
Avg EPS beat(12)17.71%
EPS beat(16)15
Avg EPS beat(16)32.01%
Revenue beat(2)1
Avg Revenue beat(2)6.56%
Min Revenue beat(2)-4.49%
Max Revenue beat(2)17.62%
Revenue beat(4)3
Avg Revenue beat(4)4.86%
Min Revenue beat(4)-4.49%
Max Revenue beat(4)17.62%
Revenue beat(8)5
Avg Revenue beat(8)3.2%
Revenue beat(12)8
Avg Revenue beat(12)3.52%
Revenue beat(16)10
Avg Revenue beat(16)3.73%
PT rev (1m)-12.82%
PT rev (3m)-95.01%
EPS NQ rev (1m)-90.04%
EPS NQ rev (3m)-90.04%
EPS NY rev (1m)-4.41%
EPS NY rev (3m)-91.63%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)0.17%
Revenue NY rev (1m)-2.48%
Revenue NY rev (3m)-11.48%
Valuation
Industry RankSector Rank
PE 14.82
Fwd PE 10.91
P/S 1.61
P/FCF N/A
P/OCF N/A
P/B 3.73
P/tB 3.73
EV/EBITDA 14.99
EPS(TTM)2.19
EY6.75%
EPS(NY)2.97
Fwd EY9.17%
FCF(TTM)-3.37
FCFYN/A
OCF(TTM)-3.17
OCFYN/A
SpS20.18
BVpS8.7
TBVpS8.7
PEG (NY)0.41
PEG (5Y)0.22
Profitability
Industry RankSector Rank
ROA 11.84%
ROE 20.59%
ROCE 16.08%
ROIC 14.5%
ROICexc 20.61%
ROICexgc 20.61%
OM 9.72%
PM (TTM) 8.88%
GM 15.97%
FCFM N/A
ROA(3y)12.82%
ROA(5y)9.57%
ROE(3y)24.85%
ROE(5y)18.53%
ROIC(3y)20.84%
ROIC(5y)15.54%
ROICexc(3y)25.7%
ROICexc(5y)19.11%
ROICexgc(3y)25.7%
ROICexgc(5y)19.11%
ROCE(3y)23.1%
ROCE(5y)17.22%
ROICexcg growth 3Y21.89%
ROICexcg growth 5Y13.57%
ROICexc growth 3Y21.89%
ROICexc growth 5Y13.57%
OM growth 3Y34.46%
OM growth 5Y24.98%
PM growth 3Y37%
PM growth 5Y31.52%
GM growth 3Y-2.02%
GM growth 5Y-0.03%
F-Score2
Asset Turnover1.33
Health
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF N/A
Debt/EBITDA 1.5
Cap/Depr 310.41%
Cap/Sales 1%
Interest Coverage 71.31
Cash Conversion N/A
Profit Quality N/A
Current Ratio 4.69
Quick Ratio 2.29
Altman-Z 5.86
F-Score2
WACC11.56%
ROIC/WACC1.25
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)85.45%
EPS 3Y106.48%
EPS 5Y66.56%
EPS Q2Q%78.06%
EPS Next Y35.72%
EPS Next 2Y30.21%
EPS Next 3Y17.17%
EPS Next 5YN/A
Revenue 1Y (TTM)109.77%
Revenue growth 3Y61.35%
Revenue growth 5Y33.68%
Sales Q2Q%142.95%
Revenue Next Year66.95%
Revenue Next 2Y41.57%
Revenue Next 3Y30.15%
Revenue Next 5Y9.6%
EBIT growth 1Y64.24%
EBIT growth 3Y116.95%
EBIT growth 5Y67.07%
EBIT Next Year44.3%
EBIT Next 3Y28.45%
EBIT Next 5YN/A
FCF growth 1Y-424.23%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-386.12%
OCF growth 3YN/A
OCF growth 5YN/A