Super Micro Computer (SMCI) FY2024 results: revenue $15.0 billion, up 110.4% on the year

Super Micro Computer, Inc. (SMCI) reported revenue of $15.0 billion for fiscal 2024, the year ended 30 June 2024, up 110.4% on the year before. Net income was $1.2 billion, up 80.1%, and diluted earnings per share $1.92. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue

$15.0 billion

+110.4% on the year

FY2017FY2024

Operating margin

8.1%

10.7% a year earlier

FY2017FY2024

Net income

$1.2 billion

+80.1% on the year

FY2017FY2024

Diluted EPS

$1.92

+68.0% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	14,989	7,123	5,196	+110.4%
Cost of revenue	12,928	5,840	4,396	+121.3%
Gross profit	2,061	1,283	800	+60.7%
Gross margin	13.8%	18.0%	15.4%
Research and development	464	307	272	+50.9%
Operating income	1,211	761	335	+59.1%
Operating margin	8.1%	10.7%	6.5%
Interest expense	19.4	10.5	6.4	+84.5%
Pre-tax income	1,214	754	337	+61.0%
Income tax	63.3	111	52.9	-42.8%
Effective tax rate	5.2%	14.7%	15.7%
Net income	1,153	640	285	+80.1%
Net margin	7.7%	9.0%	5.5%
Diluted EPS	$1.92	$1.14	$0.53	+68.0%

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	-2,486	664	-441
Capital expenditure	124	36.8	45.2	+237.8%
Free cash flow	-2,610	627	-486
Free cash flow margin	-17.4%	8.8%	-9.4%
Cash from investing	-194	-39.5	-46.3
Cash from financing	3,912	-448	523
Depreciation and amortisation	30.1	26.9	24.8	+11.9%
Share-based compensation	232	54.4	32.8	+325.3%
Diluted shares, weighted	602m	560m	536m	+7.6%
Shares outstanding at period end	588m	529m	523m	+11.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	5,417	1,972	1,426	+174.7%
Non-controlling interest	0.2	0.2	0.2	-0.6%
Debt	2,174	290	597	+648.9%
Operating lease liabilities	26.1	n/a	16.7
Other liabilities	2,208	1,412	1,166	+56.4%
Total liabilities and equity	9,826	3,675	3,205	+167.4%
Fixed assets	414	290	286	+42.6%
Investments	61.0	n/a	1.6
Cash and equivalents	1,670	440	267	+279.1%
Receivables	2,737	1,148	835	+138.4%
Inventory	4,333	1,446	1,546	+199.7%
Other assets	611	350	270	+74.5%
Total assets	9,826	3,675	3,205	+167.4%

10-K for the year ended 30 June 2024, filed 25 February 2025: the filing.