Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

Enterprise Value to FCFF (EV/FCFF)

Microsoft Excel

Free Cash Flow to The Firm (FCFF)

Super Micro Computer Inc., FCFF calculation

US$ in thousands

Microsoft Excel
12 months ended: Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Net income 1,152,666 639,998 285,163 111,865 84,308 71,918
Net noncash charges 113,984 (3,286) 43,885 49,609 34,859 34,088
Changes in operating assets and liabilities (3,752,622) 26,868 (769,849) (38,519) (149,501) 156,548
Net cash provided by (used in) operating activities (2,485,972) 663,580 (440,801) 122,955 (30,334) 262,554
Cash paid for interest, net of tax1 15,182 7,285 4,630 1,835 2,098 3,220
Purchases of property, plant and equipment (124,279) (36,793) (45,182) (58,016) (44,338) (24,849)
Free cash flow to the firm (FCFF) (2,595,069) 634,072 (481,353) 66,774 (72,574) 240,925

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Super Micro Computer Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Super Micro Computer Inc. FCFF increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Interest Paid, Net of Tax

Super Micro Computer Inc., interest paid, net of tax calculation

US$ in thousands

Microsoft Excel
12 months ended: Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Effective Income Tax Rate (EITR)
EITR1 5.20% 14.70% 15.70% 5.80% 3.40% 16.60%
Interest Paid, Net of Tax
Cash paid for interest, before tax 16,015 8,541 5,492 1,948 2,172 3,861
Less: Cash paid for interest, tax2 833 1,256 862 113 74 641
Cash paid for interest, net of tax 15,182 7,285 4,630 1,835 2,098 3,220

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 See details »

2 2024 Calculation
Cash paid for interest, tax = Cash paid for interest × EITR
= 16,015 × 5.20% = 833


Enterprise Value to FCFF Ratio, Current

Super Micro Computer Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 21,306,064
Free cash flow to the firm (FCFF) (2,595,069)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Apple Inc. 31.20
Arista Networks Inc. 24.67
Cisco Systems Inc. 24.20
Dell Technologies Inc. 27.93
EV/FCFF, Sector
Technology Hardware & Equipment 30.17
EV/FCFF, Industry
Information Technology 40.70

Based on: 10-K (reporting date: 2024-06-30).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Super Micro Computer Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Selected Financial Data (US$ in thousands)
Enterprise value (EV)1 27,531,684 13,351,606 3,957,189 1,672,177 1,255,796 912,580
Free cash flow to the firm (FCFF)2 (2,595,069) 634,072 (481,353) 66,774 (72,574) 240,925
Valuation Ratio
EV/FCFF3 21.06 25.04 3.79
Benchmarks
EV/FCFF, Competitors4
Apple Inc. 31.36 27.21 22.40 26.45 24.67 18.01
Arista Networks Inc. 33.39 39.01 89.98 38.47 29.00
Cisco Systems Inc. 19.55 10.98 13.55 15.50 10.47 12.58
Dell Technologies Inc. 13.99 34.88 6.45 9.28 8.76
EV/FCFF, Sector
Technology Hardware & Equipment 30.34 24.95 20.82 23.63 21.09
EV/FCFF, Industry
Information Technology 40.33 34.40 26.74 27.56 23.97

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 See details »

2 See details »

3 2024 Calculation
EV/FCFF = EV ÷ FCFF
= 27,531,684 ÷ -2,595,069 =

4 Click competitor name to see calculations.