Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Super Micro Computer Inc., FCFE calculation

US$ in thousands

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12 months ended: Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Net income 639,998 285,163 111,865 84,308 71,918 46,165
Net noncash charges (3,286) 43,885 49,609 34,859 34,088 64,759
Changes in operating assets and liabilities 26,868 (769,849) (38,519) (149,501) 156,548 (26,577)
Net cash provided by (used in) operating activities 663,580 (440,801) 122,955 (30,334) 262,554 84,347
Purchases of property, plant and equipment (36,793) (45,182) (58,016) (44,338) (24,849) (24,824)
Proceeds from borrowings 1,093,860 1,153,317 127,059 164,791 41,760 107,337
Repayment of debt (1,394,391) (640,695) (60,629) (159,191) (67,700) (220,299)
Net borrowings (repayment) on asset-backed revolving line of credit, net of costs — — — (1,116) (65,945) 64,226
Payment of other fees for debt financing — (592) (561) (650) (625) (414)
Free cash flow to equity (FCFE) 326,256 26,047 130,808 (70,838) 145,195 10,373

Based on: 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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Super Micro Computer Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Super Micro Computer Inc. FCFE decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Price to FCFE Ratio, Current

Super Micro Computer Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 55,933,330
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 326,256
FCFE per share 5.83
Current share price (P) 762.52
Valuation Ratio
P/FCFE 130.73
Benchmarks
P/FCFE, Competitors1
Apple Inc. 29.79
Arista Networks Inc. 40.94
Cisco Systems Inc. 10.56
P/FCFE, Sector
Technology Hardware & Equipment 27.16
P/FCFE, Industry
Information Technology 41.04

Based on: 10-K (reporting date: 2023-06-30).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Super Micro Computer Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
No. shares of common stock outstanding1 52,905,947 52,347,039 50,590,466 52,436,548 50,085,282 49,581,446
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 326,256 26,047 130,808 (70,838) 145,195 10,373
FCFE per share3 6.17 0.50 2.59 -1.35 2.90 0.21
Share price1, 4 255.16 69.26 35.73 27.39 22.65 22.65
Valuation Ratio
P/FCFE5 41.38 139.19 13.82 — 7.81 108.26
Benchmarks
P/FCFE, Competitors6
Apple Inc. 30.63 22.26 23.27 24.40 21.64 14.82
Arista Networks Inc. 41.51 96.71 42.05 32.98 18.04 —
Cisco Systems Inc. 12.84 17.03 20.97 37.32 14.83 44.19
P/FCFE, Sector
Technology Hardware & Equipment 27.96 22.09 23.18 25.25 20.13 —
P/FCFE, Industry
Information Technology 33.34 26.56 27.30 23.29 18.92 —

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 326,256,000 ÷ 52,905,947 = 6.17

4 Closing price as at the filing date of Super Micro Computer Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 255.16 ÷ 6.17 = 41.38

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Super Micro Computer Inc. P/FCFE ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.