Super Micro Computer (SMCI) financial statements
Super Micro Computer reported revenue of $39.1B in fiscal 2026, up 35.8% a year over 9 years.
Net income was $2.2B and the operating margin 7.1%, against 3.8% in 2017.
Free cash flow was -$7.0B.
The diluted share count rose 35% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Super Micro Computer's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B | $3.4B | $3.5B | $3.3B | $3.6B | $5.2B | $7.1B | $15.0B | $22.0B | $39.1B |
| Cost of revenue | $2.1B | $2.9B | $3.0B | $2.8B | $3.0B | $4.4B | $5.8B | $12.9B | $19.5B | $34.8B |
| Gross profit | $350M | $430M | $496M | $526M | $535M | $800M | $1.3B | $2.1B | $2.4B | $4.2B |
| Research and development | $144M | $165M | $180M | $221M | $224M | $272M | $307M | $464M | $637M | $771M |
| Selling, general and admin | $111M | $170M | $218M | $219M | $186M | $193M | $215M | $387M | $540M | $686M |
| Operating income | $95M | $95M | $97M | $86M | $124M | $335M | $761M | $1.2B | $1.3B | $2.8B |
| Interest expense | $2M | $6M | $7M | $2M | $2M | $6M | $10M | $19M | $60M | $195M |
| Pre-tax income | $92M | $88M | $90M | $85M | $119M | $337M | $754M | $1.2B | $1.2B | $2.8B |
| Income tax | $24M | $38M | $15M | $3M | $7M | $53M | $111M | $63M | $157M | $556M |
| Net income | $67M | $46M | $72M | $84M | $112M | $285M | $640M | $1.2B | $1.0B | $2.2B |
| EPS (diluted) | $0.13 | $0.09 | $0.14 | $0.16 | $0.21 | $0.53 | $1.14 | $1.92 | $1.68 | $3.26 |
| Diluted shares | 517M | 522M | 517M | 528M | 535M | 536M | 560M | 602M | 628M | 697M |
| Gross margin | 14.1% | 12.8% | 14.2% | 15.8% | 15.0% | 15.4% | 18.0% | 13.8% | 11.1% | 10.8% |
| Operating margin | 3.8% | 2.8% | 2.8% | 2.6% | 3.5% | 6.5% | 10.7% | 8.1% | 5.7% | 7.1% |
| Net margin | 2.7% | 1.4% | 2.1% | 2.5% | 3.1% | 5.5% | 9.0% | 7.7% | 4.8% | 5.7% |
Balance sheet
Fiscal years, from Super Micro Computer's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $111M | $115M | $248M | $211M | $232M | $267M | $440M | $1.7B | $5.2B | $7.5B |
| Receivables | $324M | $451M | $394M | $404M | $464M | $835M | $1.1B | $2.7B | $2.2B | $6.1B |
| Inventory | $737M | $853M | $670M | $851M | $1.0B | $1.5B | $1.4B | $4.3B | $4.7B | $12.9B |
| Total current assets | $1.3B | $1.5B | $1.4B | $1.6B | $1.9B | $2.8B | $3.2B | $8.9B | $12.3B | $27.7B |
| Property, plant and equipment | $196M | $197M | $207M | $234M | $275M | $286M | $290M | $414M | $504M | $626M |
| Total assets | $1.5B | $1.8B | $1.7B | $1.9B | $2.2B | $3.2B | $3.7B | $9.8B | $14.0B | $29.9B |
| Total current liabilities | $673M | $812M | $606M | $708M | $969M | $1.5B | $1.4B | $2.3B | $2.3B | $7.2B |
| Long-term debt | $0 | — | $0 | $6M | $35M | $148M | $120M | — | — | — |
| Total liabilities | $741M | $926M | $741M | $853M | $1.1B | $1.8B | $1.7B | $4.4B | $7.7B | $15.5B |
| Shareholders' equity | $774M | $843M | $941M | $1.1B | $1.1B | $1.4B | $2.0B | $5.4B | $6.3B | $14.5B |
| Net debt | $51M | $804,000 | -$248M | -$205M | -$198M | -$120M | -$320M | -$1.7B | -$5.2B | -$7.5B |
Cash flow
Fiscal years, from Super Micro Computer's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$96M | $84M | $263M | -$30M | $123M | -$441M | $664M | -$2.5B | $1.7B | -$6.8B |
| Capital spending | $29M | $25M | $25M | $44M | $58M | $45M | $37M | $124M | $127M | $162M |
| Free cash flow | -$126M | $60M | $238M | -$75M | $65M | -$486M | $627M | -$2.6B | $1.5B | -$7.0B |
| Stock-based compensation | $20M | $25M | $21M | $20M | $29M | $33M | $54M | $232M | $314M | $412M |
| Share buybacks (net) | -$18M | $0 | $0 | — | — | — | — | — | — | — |
| Net borrowing | $67M | -$113M | -$26M | $6M | $66M | $513M | -$301M | $189M | -$381M | $3.9B |
| Free cash flow margin | -5.1% | 1.8% | 6.8% | -2.2% | 1.8% | -9.4% | 8.8% | -17.4% | 7.0% | -17.8% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SMCI.
Open SMCI in InvestinglyQuestions
What was Super Micro Computer's revenue in 2026?
$39.1B in fiscal 2026, from its 10-K filing.
How much free cash flow does Super Micro Computer generate?
-$7.0B in fiscal 2026 (operating cash flow minus capital spending).
From Super Micro Computer's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.