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SUPER MICRO COMPUTER INC (SMCI) Stock Fundamental Analysis

NASDAQ:SMCI - Nasdaq - US86800U3023 - Common Stock - Currency: USD

56.07  -3.2 (-5.4%)

After market: 55.98 -0.09 (-0.16%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to SMCI. SMCI was compared to 32 industry peers in the Technology Hardware, Storage & Peripherals industry. While SMCI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. SMCI is valued quite expensively, but it does show have an excellent growth rating. With these ratings, SMCI could be worth investigating further for growth investing!.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

SMCI had positive earnings in the past year.
SMCI had a negative operating cash flow in the past year.
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

The Return On Assets of SMCI (11.84%) is better than 83.87% of its industry peers.
The Return On Equity of SMCI (20.59%) is better than 87.10% of its industry peers.
SMCI has a Return On Invested Capital of 14.50%. This is in the better half of the industry: SMCI outperforms 70.97% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SMCI is above the industry average of 17.13%.
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 Profit Margin of 8.88%. This is amongst the best in the industry. SMCI outperforms 83.87% of its industry peers.
SMCI's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 9.72%, SMCI is in the better half of the industry, outperforming 74.19% of the companies in the same industry.
SMCI's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 15.97%, SMCI is not doing good in the industry: 83.87% of the companies in the same industry are doing better.
SMCI's Gross Margin has been stable in the last couple of years.
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

SMCI has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
SMCI has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, SMCI has more shares outstanding
The debt/assets ratio for SMCI is higher compared to a year ago.
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

SMCI has an Altman-Z score of 8.51. This indicates that SMCI is financially healthy and has little risk of bankruptcy at the moment.
SMCI has a better Altman-Z score (8.51) than 87.10% of its industry peers.
A Debt/Equity ratio of 0.35 indicates that SMCI is not too dependend on debt financing.
SMCI has a Debt to Equity ratio of 0.35. This is comparable to the rest of the industry: SMCI outperforms 58.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF N/A
Altman-Z 8.51
ROIC/WACC1.6
WACC9.04%
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

SMCI has a Current Ratio of 4.69. This indicates that SMCI is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 4.69, SMCI belongs to the top of the industry, outperforming 90.32% of the companies in the same industry.
A Quick Ratio of 2.29 indicates that SMCI has no problem at all paying its short term obligations.
SMCI's Quick ratio of 2.29 is amongst the best of the industry. SMCI outperforms 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.
SMCI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 66.56% yearly.
The Revenue has grown by 109.77% in the past year. This is a very strong growth!
Measured over the past years, SMCI shows a very strong growth in Revenue. The Revenue has been growing by 33.68% on average per year.
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 a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.05% yearly.
Based on estimates for the next years, SMCI will show a quite strong growth in Revenue. The Revenue will grow by 9.60% on average per year.
EPS Next Y29.18%
EPS Next 2Y30.68%
EPS Next 3Y22.05%
EPS Next 5YN/A
Revenue Next Year66.72%
Revenue Next 2Y44.36%
Revenue Next 3Y33.4%
Revenue Next 5Y9.6%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 25.60, the valuation of SMCI can be described as expensive.
SMCI's Price/Earnings is on the same level as the industry average.
SMCI is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 29.63, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 19.80, the valuation of SMCI can be described as rather expensive.
SMCI's Price/Forward Earnings ratio is in line with the industry average.
SMCI is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.68, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 25.6
Fwd PE 19.8
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SMCI is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 29.02
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.
SMCI's earnings are expected to grow with 22.05% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.88
PEG (5Y)0.38
EPS Next 2Y30.68%
EPS Next 3Y22.05%

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0

5. Dividend

5.1 Amount

SMCI does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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SUPER MICRO COMPUTER INC

NASDAQ:SMCI (2/21/2025, 8:00:02 PM)

After market: 55.98 -0.09 (-0.16%)

56.07

-3.2 (-5.4%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)02-11 2025-02-11/amc
Earnings (Next)04-28 2025-04-28/amc
Inst Owners57.56%
Inst Owner Change809.29%
Ins Owners11.64%
Ins Owner Change1.13%
Market Cap32.83B
Analysts68.89
Price Target45.57 (-18.73%)
Short Float %18.31%
Short Ratio1.53
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)1.25%
PT rev (3m)-47.05%
EPS NQ rev (1m)-90.04%
EPS NQ rev (3m)-90.04%
EPS NY rev (1m)-1.62%
EPS NY rev (3m)-14.5%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)0.17%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-10.01%
Valuation
Industry RankSector Rank
PE 25.6
Fwd PE 19.8
P/S 2.78
P/FCF N/A
P/OCF N/A
P/B 6.45
P/tB 6.45
EV/EBITDA 29.02
EPS(TTM)2.19
EY3.91%
EPS(NY)2.83
Fwd EY5.05%
FCF(TTM)-3.37
FCFYN/A
OCF(TTM)-3.17
OCFYN/A
SpS20.18
BVpS8.7
TBVpS8.7
PEG (NY)0.88
PEG (5Y)0.38
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 8.51
F-Score2
WACC9.04%
ROIC/WACC1.6
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 Y29.18%
EPS Next 2Y30.68%
EPS Next 3Y22.05%
EPS Next 5YN/A
Revenue 1Y (TTM)109.77%
Revenue growth 3Y61.35%
Revenue growth 5Y33.68%
Sales Q2Q%142.95%
Revenue Next Year66.72%
Revenue Next 2Y44.36%
Revenue Next 3Y33.4%
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