Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Super Micro Computer Inc., FCFE 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
Purchases of property, plant and equipment (124,279) (36,793) (45,182) (58,016) (44,338) (24,849)
Proceeds from lines of credit and term loans 2,156,529 1,093,860 1,153,317 127,059 164,791 41,760
Repayment of lines of credit and term loans (1,967,545) (1,394,391) (640,695) (60,629) (159,191) (67,700)
Net borrowings (repayment) on asset-backed revolving line of credit, net of costs — — — — (1,116) (65,945)
Payment of other fees for debt financing — — (592) (561) (650) (625)
Proceeds from issuance of 2029 Convertible Notes, net of issuance costs 1,695,768 — — — — —
Free cash flow to equity (FCFE) (725,499) 326,256 26,047 130,808 (70,838) 145,195

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
FCFE Free cash flow to equity is the cash flow available to Super Micro Computer Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Super Micro Computer Inc. FCFE increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Price to FCFE Ratio, Current

Super Micro Computer Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 593,481,352
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) (725,499)
FCFE per share -1.22
Current share price (P) 34.26
Valuation Ratio
P/FCFE —
Benchmarks
P/FCFE, Competitors1
Apple Inc. 31.84
Arista Networks Inc. 26.74
Cisco Systems Inc. 8.20
Dell Technologies Inc. 115.63
P/FCFE, Sector
Technology Hardware & Equipment 26.85
P/FCFE, Industry
Information Technology 36.59

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

1 Click competitor name to see calculations.

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

Price to FCFE Ratio, Historical

Super Micro Computer Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
No. shares of common stock outstanding1 593,481,352 529,059,470 523,470,390 505,904,660 524,365,480 500,852,820
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 (725,499) 326,256 26,047 130,808 (70,838) 145,195
FCFE per share3 -1.22 0.62 0.05 0.26 -0.14 0.29
Share price1, 4 45.54 25.52 6.93 3.57 2.74 2.27
Valuation Ratio
P/FCFE5 — 41.38 139.27 13.81 — 7.83
Benchmarks
P/FCFE, Competitors6
Apple Inc. 32.77 30.63 22.26 23.27 24.40 21.64
Arista Networks Inc. 35.65 41.51 96.72 42.05 32.99 —
Cisco Systems Inc. 6.64 12.84 17.18 21.02 38.82 14.85
Dell Technologies Inc. 32.94 9.06 33.54 14.15 5.64 —
P/FCFE, Sector
Technology Hardware & Equipment 27.62 27.42 22.22 22.84 24.15 —
P/FCFE, Industry
Information Technology 36.62 33.19 26.96 27.33 23.40 —

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 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -725,499,000 ÷ 593,481,352 = -1.22

4 Closing price as at the filing date of Super Micro Computer Inc. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 45.54 ÷ -1.22 = —

6 Click competitor name to see calculations.