Touchstone
Last syncOct 31, 2026, 6:54 PM ET

SMCI

Super Micro Computer, Inc. Information Technology Electronic Computers S&P 500Russell 3000
$32.95Close $21.6BMarket cap $20.53 – $51.9652-week range Nov 3, 2026Next report · after the close

Highlights

Strengths

  • Earnings growing EPS +401% year on year, faster than the quarter before (+102 pts)

Cautions

  • Not in an uptrend 4 of 8 trend conditions
  • Far from its high 37% below its 52-week high
  • Results soon Nov 3, 2026, in 2 days

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Jun 30, 2026 · filed Aug 31, 2026
Off 12-month high 37%
1wk 0.0% price change
1mo down 19.8% price change
12-month return down 35% market up 11% · its own down 48%
F-score 3 / 9 Weak
Altman Z 3.54 Low risk
P/E 9.7× price / earnings
PEG 0.11 P/E / EPS growth
P/B 1.5× price / book
Earnings yield up 15.2% EBIT / enterprise value
Cheaper than 60% of the market · cheap
Revenue growth up 78% year on year
EPS growth up 401% latest quarter · +102 pts
Sales growth up 93% latest quarter · -30 pts
ROE up 21% return on equity
Free cash margin down 18% -$7.0B FCF
D/E 0.28 long-term debt / equity
Net debt / EBITDA -1.2× net cash
Interest cover —EBIT / interest
Piotroski tests
  • operating cash flow is negative
  • profits not fully backed by cash
  • took on more long-term debt
  • short-term liquidity weakened
  • issued more shares
  • gross margin narrowed
  • profitable on its assets
  • profitability improving
  • assets working harder

Trade setup

ATR% 7.3% $2.40 a day · 2×ATR $28.15
RS 54 / 99 vs the universe
Trend 4 / 8 trend template
Relative volume 1.0× vs 50-day average
Up/down volume 1.24 50 sessions
Implied move 14.2% by Nov 6, 2026 · report Nov 3, 2026
Trend template · 4 of 8
  • Price above the 150 and 200-day averages: fails
  • 150-day average above the 200-day: passes
  • 200-day average rising for a month: passes
  • 50-day average above the 150 and 200-day: passes
  • Price above the 50-day average: fails
  • At least 30% above the 52-week low: passes
  • Within 25% of the 52-week high: fails
  • RS rank 70 or higher: fails

Screen verdict

Did not qualify for any screen.

Warning signs

2 flagged
  • Shareholders diluted The share count rose 10.6% over the year, from 594m to 657m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
  • Profit not backed by cash Reported profit of $2.2B came with -$6.8B of operating cash flow. Profit that cash does not follow is the classic signature of aggressive accounting.
Last reported Oct 20, 2026
Results reaction Oct 20, 2026+10% vs market2 sessions after results
Options $48.3M88.8% IV · activity

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $39.1B +78% on FY2025
$0 $50B FY21 FY22 FY23 FY24 FY25 FY26 FY2021 · $3.6B FY2022 · $5.2B FY2023 · $7.1B FY2024 · $15.0B FY2025 · $22.0B FY2026 · $39.1B
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $2.2B +113% on FY2025
$0 $2.5B FY21 FY22 FY23 FY24 FY25 FY26 FY2021 · $111.9M FY2022 · $285.2M FY2023 · $640.0M FY2024 · $1.2B FY2025 · $1.0B FY2026 · $2.2B
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology -$7.0B down to a loss
-$10B $0 $2B FY21 FY22 FY23 FY24 FY25 FY26 FY2021 · $64.9M FY2022 · -$486.0M FY2023 · $626.8M FY2024 · -$2.6B FY2025 · $1.5B FY2026 · -$7.0B
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 11%
  • Net 6%
  • Free cash -18%
-20% 0% 20% FY21 FY22 FY23 FY24 FY25 FY26 FY2021 · Gross 15% · Net 3% · Free cash 2% FY2022 · Gross 15% · Net 5% · Free cash -9% FY2023 · Gross 18% · Net 9% · Free cash 9% FY2024 · Gross 14% · Net 8% · Free cash -17% FY2025 · Gross 11% · Net 5% · Free cash 7% FY2026 · Gross 11% · Net 6% · Free cash -18%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $3.5B net cash
  • Cash
  • Long-term debt
$0 $10B FY21 FY22 FY23 FY24 FY25 FY26 FY2021 · Cash $232.3M · Long-term debt $34.7M FY2022 · Cash $267.4M · Long-term debt $147.6M FY2023 · Cash $440.5M · Long-term debt $120.2M FY2024 · Cash $1.7B · Long-term debt $476.4M FY2025 · Cash $5.2B · Long-term debt $112.5M FY2026 · Cash $7.5B · Long-term debt $4.1B
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 656.88m +29.9% since FY2021
656.88m 505.82m FY21 FY22 FY23 FY24 FY25 FY26 FY2021 · 505.82m FY2022 · 523.11m FY2023 · 529.01m FY2024 · 588.09m FY2025 · 594.14m FY2026 · 656.88m
  FY2021Jun 30, 2021 FY2022Jun 30, 2022 FY2023Jun 30, 2023 FY2024Jun 30, 2024 FY2025Jun 30, 2025 FY2026Jun 30, 2026
Revenue $3.6B $5.2B $7.1B $15.0B $22.0B $39.1B
Gross margin 15% 15% 18% 14% 11% 11%
Operating income $123.9M $335.2M $761.1M $1.2B $1.3B $2.8B
Net income $111.9M $285.2M $640.0M $1.2B $1.0B $2.2B
Net margin 3% 5% 9% 8% 5% 6%
Earnings per share $0.21 $0.53 $1.14 $1.91 $1.67 $3.20
Free cash flow $64.9M -$486.0M $626.8M -$2.6B $1.5B -$7.0B
Free cash margin 2% -9% 9% -17% 7% -18%
Cash $232.3M $267.4M $440.5M $1.7B $5.2B $7.5B
Long-term debt $34.7M $147.6M $120.2M $476.4M $112.5M $4.1B
Shareholders' equity $1.1B $1.4B $2.0B $5.4B $6.3B $14.5B
Shares outstanding 505.82m 523.11m 529.01m 588.09m 594.14m 656.88m

Next report

Nov 3, 2026 · after the close

Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology ±14.2% $28 – $38 by Nov 6, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology ±21.8% last 4: +10.8% · +19.5% · +28.2% · +24.1%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology Smaller than usual 0.6× the usual move

What options price now

Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
$26 – $40 ±19.9% by Nov 27, 2026
Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
Bigger 88.8% priced · 75.3% recent
Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
Choppier
Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
past week: costs more
Positioning
Premium traded
$48.3M calls $36.1M · puts $12.2M · latest session
Puts against calls, by premium Money spent on puts divided by money spent on calls. Measured in dollars rather than contracts on purpose: counting contracts treats a hundred cheap lottery tickets as more meaningful than one large position, which is backwards. Methodology
0.34× -0.70 over the week
Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
calls -214.02k · puts -65.69k past week

For options traders: ATM IV 88.8% (+1.6% 1w) · 1m ÷ 3m IV 1.18 · 25Δ skew 5.6 pts · Net GEX $6.7M

Most traded contracts 4
Contract Next day: opened, closed or mixed A large option trade on its own is ambiguous: it may have opened a position, closed one, or been one leg of a spread. Open interest is published overnight, so the next morning settles it. Opened: open interest rose by a good share of the volume traded, so positions were added. Closed: it fell, so positions were taken off. Mixed: it barely moved, as when one side opens while the other closes. A dash: the next morning's count is not in yet. None of the three says whether the contracts were bought or sold. Methodology Volume against open interest The day's contracts traded, divided by the positions already standing. Above 1 the day's trading exceeded every position in existence, which cannot happen without something new — though only tomorrow's open interest proves it opened rather than closed. Methodology Bid-ask spread The gap between the bid and the ask as a share of the midpoint: what a round trip costs before the position has moved at all. Methodology Priced vs rest of chain The contract's implied volatility less the at-the-money reading for the same company, in points: how this strike is priced against the rest of the chain. Methodology Move to break even How far the stock must move by expiry for a buyer at the midpoint to get the premium back: strike plus premium for a call, strike less premium for a put. Methodology Premium
Dec 18, 2026 · $30 put -9% from price — 0.80 2.0% -4.8% -16.7% $1.9M
Dec 18, 2026 · $40 put +21% from price — 0.11 4.1% -7.2% -4.9% $581,385
Dec 18, 2026 · $35 call +6% from price — 0.20 3.1% -7.0% +15.6% $230,400
Dec 18, 2026 · $40 call +21% from price — 0.06 4.5% -6.8% +26.4% $115,104

Liquid contracts, 3 weeks to 4 months out, soonest expiry first.

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 31, 2026 Annual ↗ Jun 30, 2026 62d
May 11, 2026 Quarterly ↗ Mar 31, 2026 41d
Feb 6, 2026 Quarterly ↗ Dec 31, 2025 37d
Nov 7, 2025 Quarterly ↗ Sep 30, 2025 38d
Aug 28, 2025 Annual ↗ Jun 30, 2025 59d
May 12, 2025 Quarterly ↗ Mar 31, 2025 42d
Feb 25, 2025 Quarterly ↗ Sep 30, 2024 148d
Feb 25, 2025 Quarterly ↗ Dec 31, 2024 56d
Feb 25, 2025 Annual ↗ Jun 30, 2024 240d
May 6, 2024 Quarterly ↗ Mar 31, 2024 36d
Feb 2, 2024 Quarterly ↗ Dec 31, 2023 33d
Nov 3, 2023 Quarterly ↗ Sep 30, 2023 34d

Current reports

FiledDisclosed
Oct 20, 2026 Results ↗
Oct 15, 2026 Director or officer change ↗
Oct 8, 2026 Director or officer change ↗
Aug 11, 2026 Results ↗
Aug 5, 2026 Other events ↗
Jul 21, 2026 Results ↗
Jun 15, 2026 Material agreement · Holder rights changed · Charter or bylaws ↗
Jun 12, 2026 Material agreement · Regulation FD ↗
Jun 9, 2026 Other events ↗
May 18, 2026 Director or officer change ↗
May 5, 2026 Results ↗
Apr 20, 2026 Director or officer change · Shareholder vote ↗