Key Highlights

  • Super Micro (NASDAQ:SMCI) has gained 55.01% over three months and 88.52% over six months, published market data shows, with the price at USD 44.56 and a market cap of USD 29.28 billion.
  • The screener lists a P/E of 13.6 and a price to sales ratio of 0.8, because fiscal 2026 Revenue of USD 39.1 billion came with a thin 10.8% GAAP gross margin.
  • Fiscal fourth quarter revenue was USD 11.1 billion, and GAAP gross Margin jumped to 17.5% from 9.9% in the prior quarter, according to the company release of August 11, 2026.
  • Guidance calls for fiscal 2027 revenue of USD 65.0 billion to USD 72.0 billion, up from USD 39.1 billion, which makes execution and margin durability the key questions.

Fiscal Fourth Quarter Reported August 11, 2026

Super Micro (NASDAQ:SMCI) announced fourth quarter and full fiscal year 2026 results on August 11, 2026. Revenue was USD 11.1 billion, compared with USD 10.2 billion in the third quarter and USD 5.8 billion a year earlier. GAAP diluted EPS was USD 1.62 and non-GAAP diluted EPS was USD 1.70. GAAP gross margin was 17.5%, against 9.9% in the third quarter and 9.5% a year earlier. For the full year, revenue was USD 39.1 billion versus USD 22.0 billion, and non-GAAP EPS was USD 3.63. Founder and CEO Charles Liang said the company booked a record Backlog entering fiscal 2027. The release also gave the first quarter outlook, which the company framed as evidence that Demand for its AI and IT solutions remains strong.

Guidance and the Market Reaction

For the first quarter of fiscal 2027, the company guided revenue of USD 14.5 billion to USD 15.5 billion and non-GAAP EPS of USD 1.01 to USD 1.10. It set fiscal 2027 revenue at USD 65.0 billion to USD 72.0 billion. Simple arithmetic on the midpoint gives USD 68.5 billion, about 75% above fiscal 2026. Shares were reported up 5.48% to USD 39.67 on August 13, 2026, and several banks were reported to have raised targets, including Raymond James to USD 48, JPMorgan to USD 45 and Wedbush to USD 40. At USD 44.56, the screener price is about 12% above that August 13 level, by simple arithmetic.

Thin Margins and Execution Risk

The valuation looks low because server assembly is a low margin business. A 10.8% GAAP gross margin for the year means small shifts in product mix, component costs or customer pricing can move Earnings sharply, in either direction. The fourth quarter margin of 17.5% may reflect favorable mix, and the company has not shown it can hold that level across a full year. Super Micro (NASDAQ:SMCI) also depends on timely Supply of accelerators from its main chip partner. Component costs, customer concentration and competition from larger server makers are further risks. Upcoming: fiscal first quarter results for the period ending September 30, 2026, with the date to be announced by the company.

Where Things Stand

Super Micro (NASDAQ:SMCI) jumped because a margin rebound and a much larger revenue outlook arrived together. Fourth quarter GAAP gross margin of 17.5% and fiscal 2027 guidance of USD 65.0 billion to USD 72.0 billion reset expectations, and the shares gained 55.01% in three months. A P/E of 13.6 reflects how little profit the market still capitalizes on the revenue base. Figures are published market data as of October 7, 2026: price USD 44.56, market cap USD 29.28 billion, six-month gain 88.52%.