Super Micro Computer, Inc. (SMCI) Fundamental Analysis
Super Micro Computer, Inc. is in a high-growth phase, expanding revenue 93% year-over-year as it scales. It is solidly profitable, with a latest net margin of 11%. Free cash flow is being reinvested into growth rather than harvested, so a negative print here reflects investment, not distress. On the latest filing the majority of indicators are constructive.
Beat Index assesses Super Micro Computer, Inc. across twenty analysis tabs, spanning market multiples, revenue and income, margins, cash flow, returns, liquidity and leverage, working capital, intrinsic value, commitments, insider activity, risk, and its latest 10-K reads strongest on revenue growth, profit margins and balance-sheet strength while flagging cash generation for closer review. Every figure is taken as-reported from SEC EDGAR filings, with no vendor adjustments.
At a glance
- PositiveGrowth: Revenue up 93% YoY
- WatchCash Generation: FCF margin 6%
- ConcernNo red flags in the latest quarter.
Trend matrix, last 4 quarters
| Dimension | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|---|
| Growth | Revenue up 93% YoY | Revenue up 123% YoY | Revenue up 123% YoY | Revenue down -15% YoY |
| Profitability | Net margin 11% | Net margin 5% | Net margin 3% | Net margin 3% |
| Cash Generation | FCF margin 6% | Cash burn (negative OCF) | Cash burn (negative OCF) | Cash burn (negative OCF) |
| Balance Sheet | Debt/equity 0.3x | Debt/equity 0.6x | Debt/equity 0.7x | Debt/equity 0.7x |
Quarterly financials
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|---|
| Revenue | $11.12B | $10.24B | $12.68B | $5.02B | $5.76B |
| Cash & equivalents | $7.52B | $1.29B | $4.09B | $4.20B | $5.17B |
| Net income | $1.18B | $483.4M | $400.6M | $168.3M | $195.2M |
| Operating cash flow | $747.0M | -$6.62B | -$23.9M | -$917.5M | $863.6M |
| Free cash flow | $718.7M | -$6.70B | -$45.1M | -$949.8M | $840.9M |
Figures in USD, as reported to the SEC. Longer history is available in the full analysis.
What's inside the full dashboard
Twenty analysis tabs. Every financial figure comes from SEC filings, with no estimates.
- Market Multiples: What buyers have actually paid for this business, week by week, against what they pay today.
- Cash Flow: Free cash flow generation and operating cash flow trends.
- Intrinsic Value: Discounted cash flow (DCF) valuation against your own discount rate.
- Priced In: The move the options market is pricing in, including around earnings, read from your own Alpaca account once connected.
- Liquidity & Leverage: Balance-sheet strength: assets, liabilities, debt and liquidity ratios.
- Margins: Gross, operating, and net profit margin analysis.
- Returns: Return on equity, return on assets, and return on invested capital.
- Revenue & Income: Revenue growth, composition, and year-over-year income trends.
- Working Capital: Working-capital efficiency, cash conversion and asset-turnover metrics.
- Risk: Debt levels, liquidity ratios, and financial risk indicators.
- Insider: Insider stock transactions and executive activity.
- Commitments: Operating leases, purchase commitments, and future obligations.
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Live valuation, management commentary, and peer comparison, all sourced directly from SEC filings. Free to access.