Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

$24.99

Return on Assets (ROA)
since 2007

Microsoft Excel

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Calculation

Super Micro Computer Inc., ROA, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30).

1 US$ in thousands


The analysis of asset utilization from 2007 to 2026 reveals a period of significant volatility followed by an unprecedented scale of expansion. The return on assets (ROA) has transitioned through three distinct phases: early stability, a period of diminished efficiency, and a recent era of aggressive growth and subsequent normalization.

Historical Efficiency and Volatility (2007–2012)
During the initial period, asset efficiency remained relatively stable, peaking at 9.61% in 2008. A noticeable decline occurred in 2009, with ROA dropping to 5.69%, before recovering to 8.66% in 2011. By 2012, efficiency began a downward trajectory, ending the period at 5.07%.
Period of Diminished Returns (2013–2020)
A sustained decline in ROA is observed between 2013 and 2018, reaching a historical low of 2.61%. This trend indicates that asset growth during this timeframe outpaced net income growth, suggesting a period of lower operational efficiency. A gradual recovery began after 2018, with ROA returning to a range between 4.27% and 4.99% by 2020.
Hyper-Growth and Scaling Phase (2021–2026)
A dramatic shift in profitability is evident starting in 2021, culminating in a peak ROA of 17.42% in 2023. This surge was driven by a rapid increase in net income, which grew from 111.8 million in 2021 to 639.9 million in 2023. However, subsequent years show a decline in ROA to 7.45% by 2026. This decline is attributed to a massive expansion of the asset base, which grew from 3.6 billion in 2023 to nearly 30 billion in 2026, indicating that capital investment and asset accumulation have scaled faster than the corresponding growth in net income.
Correlation Between Income and Asset Expansion
While net income has increased by orders of magnitude over the entire period, the asset base has expanded more aggressively in the final three years. The disparity between the explosive growth in total assets and the steady, though substantial, increase in net income has led to a compression of the ROA from its 2023 peak, suggesting a shift toward a more asset-intensive operational model.

Comparison to Competitors

Super Micro Computer Inc., ROA, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30).


Comparison to Sector (Technology Hardware & Equipment)

Super Micro Computer Inc., ROA, long-term trends, comparison to sector (technology hardware & equipment)

Microsoft Excel

Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30).


Comparison to Industry (Information Technology)

Super Micro Computer Inc., ROA, long-term trends, comparison to industry (information technology)

Microsoft Excel

Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30).