Super Micro Computer Inc (SMCI)
Pretax margin
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,211,916 | 1,288,520 | 1,555,558 | 1,535,957 | 1,214,139 | 1,140,061 | 855,674 | 707,318 | 754,297 | 695,304 | 690,497 | 532,698 | 336,833 | 207,550 | 133,106 | 118,071 | 118,628 | 89,775 | 87,275 | 79,857 |
| Revenue (ttm) | US$ in thousands | 21,972,040 | 21,569,720 | 20,819,880 | 18,806,840 | 14,989,250 | 11,819,520 | 9,252,750 | 7,391,030 | 7,123,490 | 6,574,090 | 6,646,280 | 6,015,500 | 5,196,100 | 4,629,620 | 4,170,011 | 3,827,897 | 3,557,417 | 3,384,563 | 3,261,090 | 3,301,727 |
| Pretax margin | 5.52% | 5.97% | 7.47% | 8.17% | 8.10% | 9.65% | 9.25% | 9.57% | 10.59% | 10.58% | 10.39% | 8.86% | 6.48% | 4.48% | 3.19% | 3.08% | 3.33% | 2.65% | 2.68% | 2.42% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,211,916K ÷ $21,972,040K
= 5.52%
The pretax margin of Super Micro Computer Inc. has exhibited a general upward trend from September 30, 2020, through March 31, 2023, indicating an improvement in profitability before taxes. Specifically, it increased from approximately 2.42% in September 2020 to a peak of approximately 10.58% in March 2023. This rise suggests that the company's operations became more efficient or that its revenue generation relative to expenses improved over this period.
Between September 30, 2020, and June 30, 2021, the pretax margin gradually increased, reflecting consistent positive momentum. The most significant improvement was observed from September 30, 2021, to June 30, 2022, where margin expansion accelerated notably from roughly 3.08% to 6.48%, and then further to 8.86% by September 2022. This period marks a phase of substantial earnings robustness relative to operating costs and expenses.
From December 2022 through March 2023, the margin stabilized around the 10% mark, indicating sustained operational efficiency and effective cost management. However, after reaching this peak, the pretax margin began to decline, dropping to approximately 8.10% by June 30, 2024, and further down to around 7.47% by December 2024. The downward trend continued into 2025, with the margin decreasing to approximately 5.97% in March 2025 and further to 5.52% by June 2025.
Overall, the period from 2020 to early 2023 demonstrates a significant improvement in pretax profitability, whereas the subsequent decline suggests potential challenges in maintaining previous margin levels, possibly due to increased costs, market competition, or other operational factors impacting profitability before the projections into mid-2025.
Peer comparison
Jun 30, 2025