Super Micro Computer (SMCI) FY2018 results: revenue $3.4 billion, up 35.2% on the year
Super Micro Computer, Inc. (SMCI) reported revenue of $3.4 billion for fiscal 2018, the year ended 30 June 2018, up 35.2% on the year before. Net income was $46 million, down 30.9%, and diluted earnings per share $0.09. The figures are the company's own, from the 10-K it filed with the SEC on 19 December 2019.
Revenue
$3.4 billion
+35.2% on the year
FY2011FY2018
Operating margin
2.8%
3.8% a year earlier
FY2011FY2018
Net income
$46 million
-30.9% on the year
FY2011FY2018
Diluted EPS
$0.09
-31.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,360
2,485
2,225
+35.2%
Cost of revenue
2,930
2,135
1,895
+37.3%
Gross profit
430
350
331
+22.9%
Gross margin
12.8%
14.1%
14.9%
Research and development
165
144
124
+14.7%
Operating income
94.7
94.9
107
-0.2%
Operating margin
2.8%
3.8%
4.8%
Interest expense
5.7
2.3
1.6
+149.0%
Pre-tax income
88.2
91.6
107
-3.7%
Income tax
38.4
24.4
35.3
+57.3%
Effective tax rate
43.6%
26.7%
32.9%
Net income
46.2
66.9
72.0
-30.9%
Net margin
1.4%
2.7%
3.2%
Diluted EPS
$0.09
$0.13
$0.14
-31.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
84.3
-96.2
108
Capital expenditure
24.8
29.4
34.1
-15.5%
Free cash flow
59.5
-126
73.9
Free cash flow margin
1.8%
-5.1%
3.3%
Cash from investing
-25.9
-29.4
-35.1
Cash from financing
-50.8
57.7
13.1
Depreciation and amortisation
21.8
16.4
13.3
+33.6%
Share-based compensation
24.7
19.7
16.9
+25.4%
Buybacks
0.0
18.5
0.0
Diluted shares, weighted
522m
517m
518m
+0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
843
774
696
+9.0%
Non-controlling interest
0.2
0.2
0.2
-7.6%
Short-term borrowings
116
n/a
n/a
Debt
n/a
162
93.6
Other liabilities
810
579
401
+39.8%
Total liabilities and equity
1,770
1,515
1,191
+16.8%
Fixed assets
197
196
188
+0.5%
Investments
1.6
2.6
2.6
-40.2%
Cash and equivalents
115
111
179
+4.3%
Receivables
451
324
175
+39.3%
Inventory
853
737
517
+15.8%
Other assets
151
146
130
+3.9%
Total assets
1,770
1,515
1,191
+16.8%
10-K for the year ended 30 June 2018, filed 19 December 2019: the filing.