Forensic Analysis · Technology / Software · as of Aug 11, 2026

Super Micro Computer, Inc. (SMCI)

A forensic read on Super Micro Computer, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

8.7

Distress distance

Clean

Earnings quality

Forensic signals

15.2

P / E (ttm)

16.6%

ROE

$19.0B

Market cap

46.6%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Super Micro Computer, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 8.7, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by cash conversion.

What the filings flag

-0.06×

FY2023–FY2025

Cash conversion. Over FY2023–FY2025, operating cash flow was -0.06× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.

+5.4%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +17% over the last 3 years to FY2025 (+5.4%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~5.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~15%.

1.4% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 1.4% of revenue and 21% of free cash flow in FY2025 — about $0.50 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 5.4% a year and is falling.

Key fundamentals

Latest Revenue$21.97B

Revenue Growth YoY+46.6%

Revenue CAGR (3yr)+61.7%

Net Margin4.8%

Free Cash Flow$1.53B

Return on Equity16.6%

Debt / Equity0.02x

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Super Micro Computer, Inc.'s actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.