Super Micro Computer (SMCI) FY2019 results: revenue $3.5 billion, up 4.2% on the year
Super Micro Computer, Inc. (SMCI) reported revenue of $3.5 billion for fiscal 2019, the year ended 30 June 2019, up 4.2% on the year before. Net income was $72 million, up 55.8%, and diluted earnings per share $0.14. The figures are the company's own, from the 10-K it filed with the SEC on 19 December 2019.
Revenue
$3.5 billion
+4.2% on the year
FY2012FY2019
Operating margin
2.8%
2.8% a year earlier
FY2012FY2019
Net income
$72 million
+55.8% on the year
FY2012FY2019
Diluted EPS
$0.14
+56.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,500
3,360
2,485
+4.2%
Cost of revenue
3,005
2,930
2,135
+2.5%
Gross profit
496
430
350
+15.2%
Gross margin
14.2%
12.8%
14.1%
Research and development
180
165
144
+9.0%
Operating income
97.2
94.7
94.9
+2.7%
Operating margin
2.8%
2.8%
3.8%
Interest expense
6.7
5.7
2.3
+16.8%
Pre-tax income
89.5
88.2
91.6
+1.5%
Income tax
14.9
38.4
24.4
-61.3%
Effective tax rate
16.6%
43.6%
26.7%
Net income
71.9
46.2
66.9
+55.8%
Net margin
2.1%
1.4%
2.7%
Diluted EPS
$0.14
$0.09
$0.13
+56.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
263
84.3
-96.2
+211.3%
Capital expenditure
24.8
24.8
29.4
+0.1%
Free cash flow
238
59.5
-126
+299.3%
Free cash flow margin
6.8%
1.8%
-5.1%
Cash from investing
-24.8
-25.9
-29.4
Cash from financing
-95.8
-50.8
57.7
Depreciation and amortisation
24.2
21.8
16.4
+10.8%
Share-based compensation
21.2
24.7
19.7
-14.1%
Buybacks
0.0
0.0
18.5
Diluted shares, weighted
517m
522m
517m
-0.8%
Shares outstanding at period end
500m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
941
843
774
+11.6%
Non-controlling interest
0.2
0.2
0.2
+2.5%
Short-term borrowings
n/a
116
n/a
Debt
23.6
n/a
162
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
718
810
579
-11.4%
Total liabilities and equity
1,683
1,770
1,515
-4.9%
Fixed assets
207
197
196
+5.4%
Investments
1.6
1.6
2.6
0.0%
Cash and equivalents
248
115
111
+115.1%
Receivables
394
451
324
-12.8%
Inventory
670
853
737
-21.5%
Other assets
162
151
146
+6.9%
Total assets
1,683
1,770
1,515
-4.9%
10-K for the year ended 30 June 2019, filed 19 December 2019: the filing.