Super Micro Computer (SMCI) FY2020 results: revenue $3.3 billion, down 4.6% on the year
Super Micro Computer, Inc. (SMCI) reported revenue of $3.3 billion for fiscal 2020, the year ended 30 June 2020, down 4.6% on the year before. Net income was $84 million, up 17.2%, and diluted earnings per share $0.16. The figures are the company's own, from the 10-K it filed with the SEC on 31 August 2020.
Revenue
$3.3 billion
-4.6% on the year
FY2013FY2020
Operating margin
2.6%
2.8% a year earlier
FY2013FY2020
Net income
$84 million
+17.2% on the year
FY2013FY2020
Diluted EPS
$0.16
+15.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,339
3,500
3,360
-4.6%
Cost of revenue
2,813
3,005
2,930
-6.4%
Gross profit
526
496
430
+6.2%
Gross margin
15.8%
14.2%
12.8%
Research and development
221
180
165
+23.1%
Operating income
85.7
97.2
94.7
-11.9%
Operating margin
2.6%
2.8%
2.8%
Interest expense
2.2
6.7
5.7
-66.6%
Pre-tax income
84.8
89.5
88.2
-5.2%
Income tax
2.9
14.9
38.4
-80.4%
Effective tax rate
3.4%
16.6%
43.6%
Net income
84.3
71.9
46.2
+17.2%
Net margin
2.5%
2.1%
1.4%
Diluted EPS
$0.16
$0.14
$0.09
+15.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-30.3
263
84.3
Capital expenditure
44.3
24.8
24.8
+78.4%
Free cash flow
-74.7
238
59.5
Free cash flow margin
-2.2%
6.8%
1.8%
Cash from investing
-43.6
-24.8
-25.9
Cash from financing
23.8
-95.8
-50.8
Depreciation and amortisation
28.5
24.2
21.8
+17.6%
Share-based compensation
20.2
21.2
24.7
-4.7%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
528m
517m
522m
+2.2%
Shares outstanding at period end
524m
500m
n/a
+4.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,066
941
843
+13.2%
Non-controlling interest
0.2
0.2
0.2
+3.7%
Short-term borrowings
n/a
n/a
116
Debt
29.4
23.6
n/a
+24.3%
Operating lease liabilities
18.1
0.0
n/a
Other liabilities
805
718
810
+12.2%
Total liabilities and equity
1,919
1,683
1,770
+14.0%
Fixed assets
234
207
197
+12.8%
Investments
1.6
1.6
1.6
0.0%
Cash and equivalents
211
248
115
-15.2%
Receivables
404
394
451
+2.6%
Inventory
851
670
853
+27.1%
Other assets
218
162
151
+34.5%
Total assets
1,919
1,683
1,770
+14.0%
10-K for the year ended 30 June 2020, filed 31 August 2020: the filing.