SMCI Super Micro Computer, Inc.

Overview and Growth

Fiscal 2026 results for Super Micro Computer, Inc. combined $39.06B of revenue with net income of $2.23B and an operating cash outflow of $6.81B. The $39.06B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $21.97B in fiscal 2025, revenue recorded a 77.8% year-over-year increase. On a per-share basis, diluted EPS was $3.26, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $1.68 in fiscal 2025, the current result was 94.0% higher. At period end, total assets were $29.95B, framing the scale of the company’s operating and financing commitments. Revenue equaled 1.3x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $4.23B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 10.8%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $2.77B, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 7.1% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $2.23B, after the operating, financing, tax, and other items recognized for the period. Net margin was 5.7%, meaning that this portion of revenue remained as net income after all recognized expenses. The company recognized $556.33M of income tax for the period, completing the transition from pretax income to net income. Return on period-end equity was 15.4%, relating annual net income to the equity capital on the balance sheet. Net income represented 7.4% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Current net income of $2.23B was above fiscal 2025 net income of $1.05B, showing the direction of the bottom-line change.

Liquidity and Capital Structure

At period end, the $29.95B asset base was financed through $15.47B of liabilities and $14.48B of equity. At period end, current assets of $27.73B compared with current liabilities of $7.16B, defining the company’s short-term resource position. Current assets covered current liabilities by 3.87x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $7.52B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 105.0%, excluding receivables and other current assets. Book equity represented 48.4% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 51.6%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 25.1% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 113.6% higher than fiscal 2025 assets of $14.02B, measuring the company’s own balance-sheet change. Reported equity changed 129.8% from $6.30B in fiscal 2025, placing the current capital base higher year over year. Compared with $5.17B in fiscal 2025, the current cash balance moved 45.5% and finished higher.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $6.81B, rather than cash generation from operations. Capital expenditures used $162.00M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $6.97B cash deficit after capital spending. Free-cash-flow margin was -17.8%, reflecting a cash deficit equal to 17.8% of revenue after capital spending. Relative to total assets, the post-investment cash deficit measured 23.3%.

Based on the annual report for the fiscal year ending Jun 30, 2026. Analysis generated Sep 24, 2026.