Super Micro Computer, Inc.
- Open
- 28.30
- Day high
- 29.00
- Day low
- 27.91
- Prev close
- 28.24
- Volume
- 23.8M
- Mkt cap
- $17.0B
- P/E (TTM)
- 13.5
- EPS (TTM)
- $2.09
- P/B
- 2.2
- P/S
- 0.5
- Yield
- —
- Per share
- —
Super Micro Computer, Inc. (SMCI) is a Technology company listed on NASDAQ. The stock is down 44% over the past year. Drillr has 18 published research articles covering SMCI.
Super Micro Computer, Inc. (SMCI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SMCI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.63 | $0.84 | +33.3% | $10.2B | -17.3% |
| Feb 3, 2026 | $0.49 | $0.69 | +40.8% | $12.7B | +1.8% |
| Nov 4, 2025 | $0.37 | $0.35 | -6.6% | $5.0B | -14.0% |
| Feb 25, 2025 | $0.58 | $0.75 | +28.4% | $5.7B | +0.5% |
| Apr 30, 2024 | $0.58 | $0.67 | +15.5% | $3.9B | -27.3% |
| Jan 29, 2024 | $0.55 | $0.56 | +1.8% | $3.7B | +20.0% |
| Nov 1, 2023 | $0.32 | $0.34 | +6.3% | $2.1B | +2.7% |
| May 2, 2023 | $0.17 | $0.16 | -5.9% | $1.3B | -24.8% |
| Jan 31, 2023 | $0.31 | $0.33 | +6.5% | $1.8B | +3.2% |
| Nov 1, 2022 | $0.31 | $0.34 | +9.7% | $1.9B | +12.0% |
| May 3, 2022 | $0.15 | $0.16 | +6.7% | $1.4B | +9.9% |
| Feb 1, 2022 | $0.08 | $0.09 | +12.5% | $1.2B | +1.7% |
SMCI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Malyala Vikranthofficer: SVP, Chief Business Officer | Tax | 2,341 | $27.65 |
| Jul 2, 2026 | Malyala Vikranthofficer: SVP, Chief Business Officer | Option | 1,220 | — |
| Jul 2, 2026 | Lin Judy L.director | Option | 5,383 | — |
| Jul 2, 2026 | Liang Charlesdirector, 10 percent owner, officer: President and CEO | Tax | 148 | $27.65 |
| Jul 2, 2026 | Liu Liang Chiu-Chu Saradirector, 10 percent owner: | Option | 273 | — |
| Jul 2, 2026 | Liu Liang Chiu-Chu Saradirector, 10 percent owner: | Tax | 148 | $27.65 |
| Jul 2, 2026 | WEIGAND DAVID Eofficer: SVP, Chief Financial Officer | Tax | 593 | $27.65 |
| Jul 2, 2026 | Angel Scottdirector | Option | 5,383 | — |
| Jul 2, 2026 | Liang Charlesdirector, 10 percent owner, officer: President and CEO | Tax | 448 | $27.65 |
| Jul 2, 2026 | WEIGAND DAVID Eofficer: SVP, Chief Financial Officer | Option | 9,380 | — |
| Jul 2, 2026 | Malyala Vikranthofficer: SVP, Chief Business Officer | Tax | 719 | $27.65 |
| Jul 2, 2026 | Liang Charlesdirector, 10 percent owner, officer: President and CEO | Option | 510 | — |
| Jul 2, 2026 | Liu Liang Chiu-Chu Saradirector, 10 percent owner: | Tax | 276 | $27.65 |
| Jul 2, 2026 | LIU TALLY Cdirector | Option | 2,691 | — |
| Jul 2, 2026 | WEIGAND DAVID Eofficer: SVP, Chief Financial Officer | Option | 1,164 | — |
Source: SMCI SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full SMCI insider & 13F page →SMCI research & analysis
DELL Stock: AI Server Cohort After SMCI Crash
Dell Q1 FY27 revenue $43.8B with $3.1B FCF. Capital-discipline advantage versus SMCI $7B financing crisis. Enterprise vs hyperscaler split.
DELLHPESMCI Stock: Why $7B Financing Hit Shares
SMCI -25% on $7B financing plan reveals AI server capital stress. Q3 FY26 FCF -$6.7B confirms growth needs huge working capital cushion.
DELLHPEHPE Q2 FY26 Beat: $16.4B AI Bookings Re-Rate the Server Set
Hewlett Packard Enterprise reported $16.4B cumulative AI bookings against $5.9B backlog. The Server segment grew 33% YoY and FY26 EPS guidance lifted.
HPEDELLNVDASMCI: Oracle's $1.4B Cancellation, Co-Founder Smuggling Risks
Oracle canceled a $1.1-1.4B order for Nvidia AI servers from SMCI, citing the DOJ indictment of the company's co-founder for smuggling restricted GPUs to China. The cancellation proves legal risk is converting to operational damage, and the market hasn't priced the customer flight risk if other hyperscalers follow Oracle's lead. SMCI trades at 12x forward earnings assuming business continuity; if revenue compresses 15-20% from additional cancellations, the stock heads toward $20-25 over 90 days.
ORCLNVDANVDA's $1T AI Premium Justified — But AMD Is the Cheapest Chip Play Right Now
Motley Fool's April 11 warning on NVIDIA's mispriced $1T AI growth sparks valuation review of semis. AMD emerges cheapest on growth, NVDA justified premium, equipment plays solid indirect bets amid robust demand signals.
NVDAAMDAVGOAI Chip Export Controls Delayed: 5 Stocks — NVDA, AMD, MSFT — Get Relief
Bureaucratic delays in Trump's AI chip export controls provide relief to U.S. AI infrastructure firms, enabling focus on domestic growth. NVDA, AMD, SMCI, ANET, and MSFT stand to benefit most, ranked by conviction with financials highlighting growth and valuations. Policy risks remain, but near-term tailwinds favor hardware leaders.
NVDAAMDANETAI Chip Shortage: SMCI, DELL, and AVGO Winning Biggest Beyond Nvidia
Amid robust AI chip demand and supply constraints per Investopedia, infrastructure firms like SMCI, DELL, and AVGO lead with massive backlogs and growth. Ranked conviction favors direct AI server exposure at attractive valuations.
DELLAVGOAMDARM vs. INTC: IBM Partnership Picks a Side in the Enterprise AI Chip War
IBM's April 2 partnership with Arm accelerates Arm's enterprise computing expansion, favoring ARM, NVDA, IBM, and DELL while challenging INTC and AMD. The article analyzes financials and exposure for six key players, ranking ARM as top pick. Watch Arm ecosystem share gains amid AI inference boom.
ARMIBMNVDATrump's Iran Strike Reshuffles Markets: XLE Surges While SPY and QQQ Slip
Motley Fool projects AI infrastructure spending tripling by 2029, boosting hyperscalers like MSFT, AMZN, GOOGL and suppliers NVDA, AMD, SMCI. Microsoft and NVIDIA top the winners with superior AI exposure and growth. Ranked conviction favors Azure and GPUs amid $200B+ capex surges.
AMZNMSFTGOOGLCoreWeave's $8.5B AI Deal: NVDA Leads 6 Stocks Ranked by Infrastructure Upside
CoreWeave's $8.5B financing highlights surging AI infrastructure demand, benefiting Nvidia, Broadcom, Dell, Equinix, Super Micro, and AMD. We analyze each's exposure with fresh financials and rank conviction from strongest (Nvidia) to solid (AMD). The buildout persists, but capex risks loom.
NVDAAVGODELL$300B AI VC Boom Spills Into Public Markets — NVDA, MSFT Lead 6 Top Picks
A record $300B VC surge into AI startups is spilling over to public markets, boosting demand for chips, cloud, and platforms. NVIDIA, Microsoft, and peers lead the capture with explosive growth and AI tailwinds. Ranked picks highlight purest plays amid hyperscaler capex frenzy.
NVDAMSFTAMZNSMCI Launches Independent Probe After Export Charges — Stock Down 33% But Financials Hold
Supermicro launched an independent probe on April 8, 2026, after ex-employees faced export violation charges, intensifying shareholder lawsuits and stock volatility. Despite a 33% plunge post-indictment, robust AI-driven financials ($40B FY26 guide, 35% rev growth) support recovery. Legal overhang caps upside near-term, but valuation at 0.5x sales screams value if resolved cleanly.
Dell vs Supermicro: Head-to-Head on AI Server Revenue, Margins, and Backlog
Dell dominates Supermicro on profitability (19.8% vs 6.3% gross margin) and cash generation ($4B quarterly FCF vs cash burn), while SMCI leads on growth velocity at +123% YoY revenue. Dell's record $43 billion AI server backlog provides superior revenue visibility, making it the higher-conviction AI infrastructure play at 12.8x forward P/E.
DELLAI Capex Value Chain: Comparing Margin Profiles Across Cloud, Server, and Component Layers
A comparison of ORCL, DELL, SMCI, and VRT reveals a 10x gross margin gap across the AI capex value chain — from Oracle's 66.5% software margins to SMCI's 6.3% hardware assembly margins. Vertiv emerges as the margin sweet spot with 37.8% gross margins and minimal capex needs, while Oracle's historic $21B capex bet has pushed its FCF negative.
ORCLDELLVRTWhere do returns on AI capex accrue — cloud operators, server OEMs, or component suppliers?
Oracle absorbs the heaviest capex burden in the AI infrastructure buildout, spending 75% of revenue on data center construction with negative free cash flow. Vertiv captures the best risk-adjusted returns — 25% ROIC, 19% FCF margins, and minimal capex — while server OEMs Dell and SMCI act as high-volume, low-margin pass-throughs.
ORCLDELLVRTHow do capex payback periods compare between cloud infrastructure and equipment layers?
Cloud infrastructure capex payback periods are dramatically longer than equipment layers. Oracle's PP&E/EBITDA ratio of 1.8x (and rising toward 3x) with negative free cash flow contrasts sharply with Dell, Vertiv, and SMCI, which all recover capex in under a year. Vertiv offers the best risk-adjusted exposure with 19% FCF margins and 25% ROIC on minimal capex, while Oracle's thesis rests on future cloud revenue materializing to justify unprecedented capital spending.
ORCLDELLVRTWhich AI server OEM has more durable customer lock-in: Dell's enterprise stack or SMCI's customization?
Dell Technologies demonstrates significantly stronger customer lock-in than Supermicro, evidenced by $13.3B in deferred revenue (15x SMCI's $897M), gross margins nearly triple SMCI's (19.8% vs 6.3%), and a multi-layered ecosystem spanning hardware, software, services, and financing. While SMCI's customization model drives faster growth (34.8% vs 19%), its transactional relationships and thin margins create vulnerability to customer defection.
DELLNVDACan Supermicro close the margin gap with Dell as AI server volumes scale?
The gross margin gap between Dell and Supermicro has widened to 13.5 percentage points (19.8% vs 6.3%) as AI server volumes scale, contrary to expectations that Supermicro would achieve margin convergence through volume leverage. Dell's structural advantages in services attach, diversification, and procurement scale make it the better risk-adjusted AI infrastructure play at a lower forward P/E.
DELL
Super Micro Computer, Inc. company profile
Overview
Super Micro Computer, Inc. (NASDAQ:SMCI) is a leading provider of high-performance server and storage solutions founded in 1993 and headquartered in San Jose, California. The company went public in 2007 and has evolved from a traditional server hardware manufacturer into a comprehensive AI infrastructure and datacenter solutions provider. Super Micro specializes in application-optimized server systems, with a particular focus on artificial intelligence, cloud computing, and enterprise datacenter markets. The company has experienced explosive growth in recent years, driven primarily by the AI boom and its strategic positioning as a key supplier of AI-optimized server infrastructure.
Business
Super Micro Computer operates in the server and storage infrastructure industry, designing and manufacturing high-performance computing systems that power modern datacenters. The company's core business revolves around creating application-optimized server solutions that are specifically tailored for different computing workloads, particularly artificial intelligence applications. The company's primary products include rackmount servers, which are standardized server units that fit into datacenter racks, blade servers that offer high-density computing in compact form factors, and complete storage systems. What sets Super Micro apart is their modular, open-architecture approach, meaning their systems are built with standardized, interchangeable components that can be customized for specific applications rather than requiring entirely new designs. Super Micro's business is organized around several key segments: 1. Enterprise and Channel Vertical (approximately 42% of revenue): This segment serves traditional enterprise customers and channel partners, providing servers for general business applications, databases, and enterprise software. 2. OEM/Large Datacenter Vertical (approximately 57% of revenue): This is the company's largest segment, serving original equipment manufacturers and large cloud service providers like hyperscalers who operate massive datacenters. 3. Emerging Markets (approximately 1% of revenue): This includes 5G telecommunications infrastructure, edge computing applications, and Internet of Things (IoT) deployments. The company has become particularly prominent in the AI infrastructure market, where their servers are optimized to work with high-performance graphics processing units (GPUs) from NVIDIA and AMD. These AI servers require specialized cooling, power management, and system architecture to handle the intense computational demands of machine learning and artificial intelligence workloads. Over 70% of Super Micro's current revenue comes from AI-related platforms, reflecting the massive shift in datacenter infrastructure driven by the AI revolution. Super Micro also offers Direct Liquid Cooling (DLC) solutions, an advanced cooling technology that uses liquid instead of air to cool high-performance processors. This technology is becoming increasingly important as AI processors generate more heat and consume more power than traditional servers.
Revenue model
Super Micro Computer generates revenue primarily through product sales of server hardware, storage systems, and related components. The company operates on a traditional manufacturing business model where they design, build, and sell physical computing infrastructure to customers. Their primary revenue streams include: 1. Complete server systems sales: This represents the bulk of their revenue, where customers purchase fully configured servers ready for deployment in their datacenters. 2. Component and subsystem sales: The company sells individual components like server boards, chassis, power supplies, and accessories to customers who prefer to build or customize their own systems. 3. Integration and configuration services: Super Micro provides system integration, configuration, software installation, and technical documentation services, though this represents a smaller portion of total revenue. The company's customers fall into several categories. Large cloud service providers and hyperscalers (companies like Amazon, Google, Microsoft) represent a significant portion of revenue through the OEM/Large Datacenter vertical. Enterprise customers purchase systems through the company's channel partners and direct sales force. Original Equipment Manufacturers (OEMs) integrate Super Micro's components into their own products and solutions. Several factors significantly impact Super Micro's profitability and margins: Positive margin factors include their first-to-market advantage with new processor generations from Intel, AMD, and NVIDIA, which allows them to command premium pricing. Their specialized liquid cooling expertise and comprehensive datacenter solutions (like their Datacenter Building Block Solutions) provide differentiation and higher margins. The company's modular architecture approach also creates manufacturing efficiencies and reduces development costs. Negative margin pressures come from intense competition in the server market, commodity pricing pressure on standard components, and the cyclical nature of technology transitions where customers may delay purchases waiting for next-generation processors. Supply chain constraints and component shortages can also squeeze margins, as can the high capital requirements for maintaining inventory during rapid growth periods. The company's gross margins have compressed in recent quarters to around 10-13% due to competitive pricing pressures and the costs associated with ramping new AI-optimized products.
Competitive moat
Super Micro Computer's competitive moat is moderate but narrowing due to intensifying competition in the AI infrastructure space. The company's primary advantages stem from their engineering expertise and time-to-market capabilities. Super Micro has historically been among the first to bring new server designs to market when Intel, AMD, or NVIDIA release new processors, giving them a temporary competitive advantage and premium pricing window. Their liquid cooling technology expertise represents a more sustainable competitive advantage. The company claims 70-80% market share in liquid cooling solutions, and as AI processors become more power-hungry and generate more heat, this expertise becomes increasingly valuable. Their Direct Liquid Cooling (DLC) technology can reportedly save 40% on power and water usage while reducing datacenter noise levels significantly. The company's modular, open-architecture approach provides some differentiation by allowing customers to customize systems more easily than traditional monolithic server designs. Their comprehensive Datacenter Building Block Solutions (DCBBS) offering, which includes complete rack-scale infrastructure, also helps differentiate them from pure component suppliers. However, Super Micro faces significant competitive threats. Large technology companies like Dell Technologies, Hewlett Packard Enterprise, and Lenovo have substantial resources and established customer relationships. More concerning, cloud service providers are increasingly designing their own custom servers internally, potentially reducing demand for third-party solutions. NVIDIA and other chip companies are also developing more integrated solutions that could bypass traditional server manufacturers. The server hardware industry is inherently commoditized with relatively low barriers to entry for basic products. While Super Micro's specialized AI and liquid cooling expertise provides some protection, the rapid pace of technological change means competitive advantages can erode quickly. The company's success is also heavily dependent on maintaining strong relationships with key semiconductor suppliers, particularly NVIDIA, which creates concentration risk.
Risks & safety
Super Micro Computer presents a moderate margin of safety with some concerns around cash flow volatility and high valuation metrics during periods of peak growth. Liquidity and Solvency: - Strong current ratio of 6.66 indicates excellent short-term liquidity - Cash and short-term investments of $2.5 billion provide substantial cushion - Debt-to-equity ratio of 0.38 shows manageable leverage levels - However, cash flow from operations has been volatile, turning negative in some quarters due to rapid inventory buildup Valuation Metrics: - Current P/E ratio of 46.8 appears elevated for a hardware manufacturer - EV/EBITDA of 36.4 suggests high valuation relative to current earnings - Price-to-book ratio of 3.2 is reasonable given growth profile - Graham number analysis suggests potential overvaluation at current levels Other Considerations: - Revenue growth has been explosive but highly cyclical and dependent on AI demand - Gross margins have compressed significantly to around 10%, pressuring profitability - Heavy dependence on NVIDIA relationship creates concentration risk - Recent auditing issues and delayed financial filings raise governance concerns - Inventory levels have grown substantially, creating working capital risks if demand softens
Recent development
Over the past few years, Super Micro Computer has undergone a significant strategic transformation from a traditional server manufacturer to an AI infrastructure specialist. The company has made substantial investments in developing and manufacturing servers optimized for artificial intelligence workloads, particularly those using NVIDIA's GPU processors. A key strategic initiative has been the development of Direct Liquid Cooling (DLC) technology. The company has invested heavily in liquid cooling capabilities, achieving what they claim is a 70-80% market share in this specialized segment. They've successfully shipped over 4,000 100kW AI racks with liquid cooling and are developing advanced DLC-2 technology that promises significant power and water savings. The company has embarked on an aggressive global manufacturing expansion to meet growing demand. They've established new facilities in Malaysia, expanded operations in Taiwan, and are developing additional manufacturing capacity in the Netherlands and the U.S. Midwest. This geographic diversification helps reduce supply chain risks and positions them closer to key customers. Super Micro has also launched Datacenter Building Block Solutions (DCBBS), representing a shift toward providing complete datacenter infrastructure rather than just individual servers. This comprehensive approach includes rack-scale solutions, cooling systems, power management, and integration services, allowing customers to deploy entire datacenter sections more quickly. The company has successfully navigated several technology transitions, being among the first to market with NVIDIA's latest Blackwell B200 and GB200 processor platforms. They've also expanded partnerships with AMD, launching MI-325X solutions to diversify beyond their heavy NVIDIA dependence. Recent challenges have included corporate governance issues, with the departure of their auditor and delays in financial filings. However, a special committee investigation found no evidence of fraud or misconduct, and the company is actively working to resolve these compliance matters while maintaining operational momentum.
SMCI company profile · for informational purposes only — not investment advice.
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