Super Micro Computer Inc
SMCI - Insider Information
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+ FollowMarket Cap$17.81B
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Earnings Call Q4 2026
August 11, 2026 - AI Summary
FY26 performance: explosive growth with improving profitability
- Revenue reached $39.1B, up 78% YoY (from ~$22B in FY25).
- Non-GAAP fully diluted EPS: $3.63, up 76% YoY (from $2.06 in FY25).
- Non-GAAP gross margin FY26: 10.9% vs 11.2% FY25 (roughly flat), but profitability improved through operating discipline.
- Non-GAAP operating margin FY26: 8.1% vs 7.1% FY25.
Q4 FY26 results: strong margins, but revenue timing drag
- Q4 revenue was $11.1B (+93% YoY, +9% QoQ) but near the low end of guidance ($11.0B–$12.5B) due to customer delays tied to power readiness, cooling, and networking.
- Management characterized this as “purely a timing story” expecting recognition in subsequent quarters.
- Q4 non-GAAP gross margin: 17.6% (vs 10.1% Q3, and vs guidance 8.2%–8.4%).
- Q4 non-GAAP diluted EPS: $1.70 (vs guidance $0.65–$0.79).
Order momentum + mix shift toward higher-margin enterprise/AI/CPU
- Company disclosed $60B+ in new orders in the preannouncement; backlog and order book set record levels (expected to be fulfilled over coming quarters).
- AI mix: Q4 AI was ~60% of revenue (down from >80% in Q3 due to timing of large AI ramps), with expectation that “>80% of revenues will be AI-related” going forward.
- CEO emphasized mix drivers: higher-margin products (notably enterprise CPU, storage, IoT) plus growing DCBBS (data center building block solutions) and software/services attach.
- CFO highlighted enterprise/channel revenue accelerating: $5.6B in Q4 (50% of total) vs 28% in Q3, up 172% YoY.
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$-40.45
236.7% downside
Current Fair Value
236.7% downsideOvervalued by 236.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $17.81 Billion |
|---|---|
| Enterprise Value | $18.81 Billion |
| Earnings per Share | $3.65 |
| Beta | 2.01 |
| Outstanding Shares | 601,806,000 |
Return
| Return on Equity | 15.40% |
|---|---|
| Return on Assets | 7.45% |
| Return on Invested Capital | 12.65% |
Valuation & Multiples
| P/E Ratio | 9.03 |
|---|---|
| PEG | 1.79 |
| Price to Sales | 0.46 |
| Price to Book Ratio | 1.23 |
| Enterprise Value to Revenue | 0.48 |
| Enterprise Value to EBIT | 6.53 |
| Enterprise Value to Net Income | 8 |
| Total Debt to Enterprise | 0.45 |
| Debt to Equity | 0.59 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS Estimate
$1.28
Consensus analyst estimateRevenue Estimate
$16.29 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 2, 2027
EPS Estimate
$1.06
Consensus analyst estimateRevenue Estimate
$19.95 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.94, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.9446▼ 7.17% |
|---|---|
| Total Calls | 684,600▼ 99.18% |
| Total Puts | 646,700▼ 99.24% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.70%▼ 73.35% |
|---|---|
| Total Invested | $413.01M▼ 96.88% |
| Investors Holding | 286▼ 615.00% |
About Super Micro Computer Inc
6,238 employees
CEO: Charles Liang
Super Micro Computer, Inc. designs and manufactures advanced, high-performance server and storage solutions. These offerings leverage a modular and open architecture and are distributed globally, including across the United States, Europ...