Super Micro Computer, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Super Micro Computer, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	2,485	3,360	3,500	3,339	3,557	5,196	7,123	14,989	21,972	39,063
Cost of revenue	2,135	2,930	3,005	2,813	3,023	4,396	5,840	12,928	19,542	34,836
Gross profit	350	430	496	526	535	800	1,283	2,061	2,430	4,227
Research and development	144	165	180	221	224	272	307	464	637	771
Selling and marketing	66.4	71.6	77.2	85.1	85.7	90.1	115	190	273	353
General and administrative	44.6	98.6	141	134	101	102	99.6	197	267	333
Operating expenses	255	335	398	441	411	465	522	851	1,177	1,457
Operating income	94.9	94.7	97.2	85.7	124	335	761	1,211	1,253	2,770
Interest expense	2.3	5.73	6.69	2.24	2.49	6.41	10.5	19.4	59.6	195
Interest income								29	59.8	187
Other non-operating income	-0.98	-0.77	-1.02	1.41	-2.83	8.08	3.65	22.7	18.5	26.4
Pre-tax income	91.6	88.2	89.5	84.8	119	337	754	1,214	1,212	2,789
Income tax	24.4	38.4	14.9	2.92	6.94	52.9	111	63.3	157	556
Net income	66.9	46.2	71.9	84.3	112	285	640	1,153	1,049	2,230
EBITDA	111	117	121	114	152	360	788	1,241	1,294	2,823
EPS, basic	0.14	0.09	0.14	0.16	0.22	0.55	1.21	2.07	1.77	3.65
EPS, diluted	0.13	0.09	0.14	0.16	0.21	0.53	1.14	1.92	1.68	3.26
Shares, basic (weighted)	486	495	501	512	514	515	529	556	594	602
Shares, diluted (weighted)	519	523	519	530	537	536	560	602	628	697

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	111	115	248	211	232	267	440	1,670	5,170	7,521
Short-term investments									6.24	23.1
Receivables	324	451	394	404	464	835	1,148	2,737	2,204	6,125
Inventory	737	853	670	851	1,041	1,546	1,446	4,333	4,680	12,896
Other current assets	1.91	5.81	3.82	4.51	6.12	6.95	145	192	7.81	56.2
Total current assets	1,261	1,531	1,422	1,593	1,867	2,806	3,179	8,932	12,302	27,726
Property, plant and equipment	196	197	207	234	275	286	290	414	504	626
Lease right-of-use assets			0	23.8	20	23.7	18.9	34.6	294	521
Long-term investments	2.63	1.57	1.57	1.57	1.56	1.59		61	112	148
Other non-current assets	10.6	14	10.7	34.5	32.1	42.9	42.4	115	605	896
Total assets	1,515	1,770	1,683	1,919	2,242	3,205	3,675	9,826	14,018	29,945
Accounts payable	397	527	360	418	612	655	777	1,472	1,282	2,247
Accrued liabilities	113	102	115	155	179	212	164	260	566	1,033
Deferred revenue	33	58.5	94.2	106	101	111	135	193	369	1,578
Short-term debt	161	116	23.6	23.7	63.5	449	170
Total current liabilities	673	812	606	708	969	1,470	1,375	2,346	2,345	7,160
Long-term debt	0		0	5.7	34.7	148	120
Lease liabilities			0	18.1	14.5	16.7		26.1	280	499
Other non-current liabilities	68.8	24.6	26.2	42	41.1	39.1	37.9	67.9	327	591
Total liabilities	741	926	741	853	1,146	1,779	1,703	4,409	7,717	15,466
Total debt	0		0	5.7	34.7	148	120
Paid-in capital	308	332	350	390	438	482	538	2,831	2,866	4,601
Retained earnings	486	532	612	696	658	943	1,433	2,586	3,435	5,652
Treasury stock	-20.5	-20.5	-20.5	-20.5	0
Other comprehensive income	-0.08	0.17	-0.08	-0.15	0.45	0.91	0.64	0.71	0.71	0.4
Shareholders' equity	774	843	941	1,066	1,096	1,426	1,972	5,417	6,302	14,479
Minority interests	0.17	0.16	0.16	0.17	0.17	0.17	0.17	0.16	0.18	0.16
Total equity	774	844	941	1,066	1,096	1,426	1,972	5,417	6,302	14,480
Total liabilities and equity	1,515	1,770	1,683	1,919	2,242	3,205	3,675	9,826	14,018	29,945
Shares outstanding			501	526	508	52.3	529	588	594	657

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	66.8	46.2	71.9	84.3	112	285	640	1,153	1,049	2,230
Depreciation and amortization	16.4	21.8	24.2	28.5	28.2	24.8	26.9	30.1	41	53
Stock-based compensation	19.7	24.7	21.2	20.2	28.5	32.8	54.4	232	314	412
Deferred income tax	-6.3	13.6	-16.9	-13.8	-8.39	-6.66	-92.7	-168	-215	-95.3
Change in receivables	-149	-127	85	-7.02	-60.1	-372	-312	-1,589	533	-3,922
Change in inventory	-236	-126	119	-200	-189	-505	100	-2,983	-588	-8,877
Change in payables	135	133	-173	59.9	189	50.1	127	679	-181	963
Cash from operations	-96.2	84.3	263	-30.3	123	-441	664	-2,486	1,660	-6,810
Capital expenditures	-29.4	-24.8	-24.8	-44.3	-58	-45.2	-36.8	-124	-127	-162
Acquisitions					0	0	-2.19	-0.3	0	0
Purchases of investments							-0.5	-69.7	-56	-51.6
Sales and maturities of investments		1	0	0
Cash from investing	-29.4	-25.9	-24.8	-43.6	-58	-46.3	-39.5	-194	-183	-200
Debt issued	207	107	41.8	165	127	1,153	1,094	2,157	1,388	4,469
Debt repaid	-140	-220	-67.7	-159	-60.6	-641	-1,394	-1,968	-1,769	-521
Stock issued	10.9	3.04	0	28.3	28.4	21	30.5	0	0	1,407
Share buybacks	-18.5	0	0	0	-130	0	-150	0	-200	0
Cash from financing	57.7	-50.8	-95.8	23.8	-44.4	523	-448	3,912	2,024	9,479
Exchange rate effect	-0.05	-0.01	-0.12	0.38	0.56	-0.68	-3.4	-2.19	1.67	-9.36
Net change in cash	-67.9	7.59	142	-49.8	21.1	35.1	172	1,229	3,502	2,459
Free cash flow	-126	59.5	238	-74.7	64.9	-486	627	-2,610	1,532	-6,972
Interest paid	2.08	4.54	3.86	2.17	1.95	5.49	8.54	16	25.5	109
Income taxes paid	30.8	14.7	23.6	43.3	2.91	19.7	115	392	327	399

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $72.20 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	10.8%	Gross profit / revenue.
Operating margin	7.1%	Operating income / revenue.
EBITDA margin	7.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.1%	Pre-tax income / revenue.
Net margin	5.7%	Net income / revenue.
FCF margin	-17.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-17.4%	Cash from operations / revenue.
Effective tax rate	19.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	21.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.1%	Net income / average total assets.
Return on invested capital (ROIC)	54.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	2.0%	Research and development expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.4%	Capital expenditures / revenue.
D&A / revenue	0.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	77.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	76.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	61.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	74.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	48.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	51.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	121.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	53.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	86.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	118.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	53.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	79.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	112.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	51.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	81.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	94.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	41.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	73.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-510.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-555.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	129.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	94.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	67.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	113.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	101.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	67.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	11.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	7.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.87x	Current assets / current liabilities.
Quick ratio	1.91x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.05x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	51.6%	Total liabilities / total assets.
Interest coverage	14.2x	Operating income / interest expense.
Working capital	$20.57B	Current assets - current liabilities.
Tangible book value	$14.48B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.78x	Revenue / average total assets.
Fixed asset turnover	69.1x	Revenue / average property, plant and equipment.
Inventory turnover	3.96x	Cost of revenue / average inventory.
Days inventory	92 days	365 x average inventory / cost of revenue.
Receivables turnover	9.38x	Revenue / average receivables.
Days sales outstanding	39 days	365 x average receivables / revenue.
Days payables	18 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	113 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-312.6%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.26	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$3.65	Net income per basic share, as reported (split-adjusted).
Revenue per share	$56.02	Revenue / diluted weighted shares.
FCF per share	-$10.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$9.77	Cash from operations / diluted weighted shares.
Book value per share	$22.04	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$22.04	Tangible book value / shares outstanding.
Cash per share	$11.49	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$43.42B	Share price x shares outstanding.
Enterprise value	$35.88B	Market cap + total debt - cash - short-term investments.
P/E	19.5x	Market cap / net income. Only when net income is positive.
P/S	1.11x	Market cap / revenue.
P/B	3.00x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.00x	Market cap / tangible book value, when positive.
EV/Sales	0.92x	Enterprise value / revenue.
EV/EBIT	13.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.7x	Enterprise value / EBITDA, when both are positive.
FCF yield	-16.1%	Free cash flow / market cap.
Earnings yield	5.1%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.
PEG	0.46x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Super Micro Computer, Inc.'s revenue in fiscal 2026?

Super Micro Computer, Inc. reported revenue of $39.06B for fiscal 2026, 77.8% higher than the year before.

Was Super Micro Computer, Inc. profitable in fiscal 2026?

Yes. Net income was $2.23B, a net margin of 5.7%.

How much free cash flow did Super Micro Computer, Inc. generate in fiscal 2026?

Cash from operations of $6.81B minus capital expenditures of $162.0M left free cash flow of -$6.97B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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