Correction, 18 September 2026: an earlier version of this post described May 5 as the end of the quarter. It is the date the results were reported.
What changed
SMCI reported results on May 5, 2026, and the headline numbers are hard to ignore. EPS came in at $0.84, up from $0.31 in the same period a year earlier — a year-over-year increase of 171.0%. Revenue grew 122.7% year over year, making this one of the faster top-line expansions in the server and infrastructure space right now.
The stock trades at $31.22 as of August 11, 2026, giving it a market cap of $20.35B. The trailing P/E sits at 16.4, while the forward P/E drops to 9.6 — a meaningful compression that reflects how quickly earnings are expected to grow into the current valuation.
Get the ACCE weekly digest
Index returns, picks recap, score movers - every Sunday. No fluff.
ACCE's six-model fair value estimate lands at $33.57, which implies roughly 7.5% upside from the current price. The consensus analyst target is $37.81.
What it means
The ACCE score for SMCI is 68 out of 100. Breaking that down: Growth scores a perfect 100, Value comes in at 84, Quality at 49, and Momentum at 38. That profile tells a clear story — this is a company growing fast and trading at a reasonable price, but quality metrics and price momentum are dragging the composite score down.
The quality concern is worth sitting with. Net margin is 3.7%, which is thin for a company posting triple-digit revenue growth. ROE is 17.9% and FCF yield is 7.6%, both respectable, and earnings quality is flagged as strong. But a 3.7% net margin means Super Micro is converting a small slice of each revenue dollar into profit, which leaves limited cushion if costs rise or pricing pressure builds.
The 1-year return of -30.9% explains the Momentum score of 38. Despite the blowout earnings print, the stock has lost nearly a third of its value over the past year. That gap between operating performance and share price performance is notable.
We do not have guidance commentary from this report, so it is not possible to say how management views the next quarter or fiscal year. Investors looking for forward context should watch for any official guidance release.
For the current price and live score updates, see acceinvestments.com/stocks/SMCI.
ACCE scores thousands of stocks across valuation models matched to each company, with fair value, conviction and the full thesis on every name. Start free, no card required.
