Super Micro Computer Inc (SMCI)
Pretax margin
| 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 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,557,934 | 1,537,806 | 1,215,942 | 1,142,010 | 856,280 | 704,579 | 750,734 | 692,445 | 688,871 | 532,635 | 338,047 | 209,022 | 134,051 | 117,294 | 118,793 | 92,826 | 89,533 | 82,578 | 87,262 | 103,726 |
| Revenue (ttm) | US$ in thousands | 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 | 3,339,281 | 3,297,389 |
| Pretax margin | 7.48% | 8.18% | 8.11% | 9.66% | 9.25% | 9.53% | 10.54% | 10.53% | 10.36% | 8.85% | 6.51% | 4.51% | 3.21% | 3.06% | 3.34% | 2.74% | 2.75% | 2.50% | 2.61% | 3.15% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,557,934K ÷ $20,819,880K
= 7.48%
The pretax margin of Super Micro Computer Inc has shown fluctuations over the period under consideration. It stood at around 3% in the first half of 2020, dipped slightly in the third quarter of 2020, before picking up to 2.75% by the end of 2020. In the first quarter of 2021, the pretax margin remained relatively stable at 2.74%, and then began to increase gradually, reaching 3.34% by the second quarter of 2021.
A more significant upward trend in pretax margin was observed in the following quarters, with figures of 3.06%, 3.21%, 4.51%, and 6.51% for the rest of 2021 and the first half of 2022. The pretax margin saw a substantial increase in the third quarter of 2022, reaching 8.85%, and continued to rise in the fourth quarter of 2022, hitting 10.36%.
The upward trajectory carried on in the first half of 2023, with pretax margins of approximately 10.5% recorded for three consecutive quarters. However, in the last quarter of 2023 and the first quarter of 2024, there was a slight decline to around 9.25%. The pretax margin further decreased to 8.11% in the second quarter of 2024, followed by a marginal uptick to 8.18% in the third quarter of 2024. By the end of 2024, the pretax margin decreased to 7.48%.
In summary, the pretax margin of Super Micro Computer Inc has displayed a mix of fluctuations and upward trends over the analyzed period, with significant improvements in 2021 and the first half of 2022, followed by some variability in the subsequent quarters.
Peer comparison
Dec 31, 2024