Super Micro Computer Inc (SMCI)
Pretax margin
| 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 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 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 | 84,828 |
| Revenue (ttm) | US$ in thousands | 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 | 3,339,281 |
| Pretax margin | 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% | 2.54% |
March 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,288,520K ÷ $21,569,720K
= 5.97%
The pretax margin of Super Micro Computer Inc. exhibits notable fluctuations over the analyzed period, reflecting variations in profitability before tax expenses. From June 30, 2020, through December 31, 2021, the company maintained relatively modest pretax margins, ranging from approximately 2.42% to 3.33%. Notably, starting in March 2022, there was a significant upward trend, with the margin increasing sharply to 4.48%, then escalating more substantially to 6.48% in June 2022, and reaching a peak of 10.58% as of March 2023. This period marked a substantial improvement in profitability efficiency prior to tax expenses, likely driven by improved operational performance or favorable market conditions.
Following the peak in early 2023, the pretax margin experienced a moderate decline, decreasing slightly to 9.25% by December 2023 and further to 9.65% in March 2024. The subsequent quarters indicated a downward trend, with margins falling to 8.10% in June 2024, then to 8.17% in the subsequent quarter, and further declining to 7.47% by December 2024. The most recent data point in March 2025 reflects a further narrowing of margins to 5.97%, suggesting a decline in profitability before tax expense in the latest period.
Overall, the company's pretax margin trend demonstrates a substantial rise starting in late 2021, reaching a peak in early 2023, followed by a gradual but consistent decline through 2024 and into 2025. This pattern indicates that while the company experienced periods of strengthened profitability, recent financial periods have seen a compression in pretax margins, which warrants further analysis into operational efficiency, cost management, or external factors influencing profitability.
Peer comparison
Mar 31, 2025