"We achieved another record-breaking quarter, with revenue of $3.85 billion, a 200% increase from same time last year..." - Charles Liang, CEO
— Charles Liang
03Detailed Report
SMCI
Super Micro Computer Inc
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 29, 2026
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Executive Summary
Super Micro Computer Inc (SMCI) reported a record-breaking quarter for Q3 2024, with revenues reaching $3.85 billion, reflecting a remarkable 200% year-over-year increase. Non-GAAP earnings per share soared to $6.65, representing over 308% growth compared to the previous year. The surge in performance is attributed to robust demand for the company’s AI-oriented server solutions amid ongoing supply chain challenges, particularly concerning new product components. SMCI's strategic investments in production and service capabilities are setting the stage for continued growth, especially as it prepares for its new Malaysia manufacturing facility to commence operations later this year. Management remains optimistic about the sustained demand for AI-related solutions, projecting strong revenue growth into the next quarter and beyond.
Key Performance Indicators
Revenue
Increasing
3.85B
QoQ: 5.05% | YoY: 200.01%
Gross Profit
Increasing
597.37M
15.52% margin
QoQ: 5.86% | YoY: 163.90%
Operating Income
Increasing
378.31M
QoQ: 1.84% | YoY: 413.85%
Net Income
Increasing
402.46M
QoQ: 35.98% | YoY: 368.82%
EPS
Increasing
0.71
QoQ: 29.09% | YoY: 343.75%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $3.85 billion (+200% YoY, +5% QoQ)
Net Income: $402 million (+369% YoY, +36% QoQ)
Gross Margin: 15.6% (up from 15.5% QoQ)
Operating Margin: 11.3%
EPS: $6.65 (up 308% YoY)
Free Cash Flow: -$1.61 billion
Inventories: $4.1 billion (up 67% from Q2)
Current Ratio: 4.69
Debt-to-Equity Ratio: 0.367
Noteworthy trends include a strong market position in the AI server segment, significant revenue boosts from servings related to liquid cooling technologies, and aggressive expansion plans amid capital raises which totaled $3.28 billion in the quarter.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
3.85B
200.01%
5.05%
Gross Profit
597.37M
163.90%
5.86%
Operating Income
378.31M
413.85%
1.84%
Net Income
402.46M
368.82%
35.98%
EPS
0.71
343.75%
29.09%
Key Financial Ratios
Gross Profit Margin
Weak
15.50%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Fair
9.83%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Good
10.50%
Net profit margin is healthy and competitive within industry standards
Return on Assets
Fair
4.54%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
7.90%
Return on equity is acceptable but below top-tier companies
Current Ratio
Strong
4.69
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.37
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Growth
36.39x
Elevated P/E suggests growth expectations or premium valuation
Price to Book
High Premium
11.50x
Very high premium suggests asset-light business model or lofty expectations
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