Super Micro Computer (SMCI) FY2021 results: revenue $3.6 billion, up 6.5% on the year
Super Micro Computer, Inc. (SMCI) reported revenue of $3.6 billion for fiscal 2021, the year ended 30 June 2021, up 6.5% on the year before. Net income was $112 million, up 32.7%, and diluted earnings per share $0.21. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2021.
Revenue
$3.6 billion
+6.5% on the year
FY2014FY2021
Operating margin
3.5%
2.6% a year earlier
FY2014FY2021
Net income
$112 million
+32.7% on the year
FY2014FY2021
Diluted EPS
$0.21
+30.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
3,557
3,339
3,500
+6.5%
Cost of revenue
3,023
2,813
3,005
+7.5%
Gross profit
535
526
496
+1.6%
Gross margin
15.0%
15.8%
14.2%
Research and development
224
221
180
+1.3%
Operating income
124
85.7
97.2
+44.7%
Operating margin
3.5%
2.6%
2.8%
Interest expense
2.5
2.2
6.7
+11.1%
Pre-tax income
119
84.8
89.5
+39.8%
Income tax
6.9
2.9
14.9
+137.4%
Effective tax rate
5.8%
3.4%
16.6%
Net income
112
84.3
71.9
+32.7%
Net margin
3.1%
2.5%
2.1%
Diluted EPS
$0.21
$0.16
$0.14
+30.6%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
123
-30.3
263
Capital expenditure
58.0
44.3
24.8
+30.8%
Free cash flow
64.9
-74.7
238
Free cash flow margin
1.8%
-2.2%
6.8%
Cash from investing
-58.0
-43.6
-24.8
Cash from financing
-44.4
23.8
-95.8
Depreciation and amortisation
28.2
28.5
24.2
-1.0%
Share-based compensation
28.5
20.2
21.2
+41.4%
Buybacks
n/a
n/a
0.0
Diluted shares, weighted
535m
528m
517m
+1.3%
Shares outstanding at period end
506m
524m
500m
-3.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,096
1,066
941
+2.9%
Non-controlling interest
0.2
0.2
0.2
+3.6%
Debt
98.2
29.4
23.6
+234.0%
Operating lease liabilities
14.5
18.1
0.0
-19.7%
Other liabilities
1,033
805
718
+28.2%
Total liabilities and equity
2,242
1,919
1,683
+16.9%
Fixed assets
275
234
207
+17.5%
Investments
1.6
1.6
1.6
-1.0%
Cash and equivalents
232
211
248
+10.3%
Receivables
464
404
394
+14.9%
Inventory
1,041
851
670
+22.3%
Other assets
229
218
162
+5.1%
Total assets
2,242
1,919
1,683
+16.9%
10-K for the year ended 30 June 2021, filed 27 August 2021: the filing.