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Held by 695 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $5.2B covers all $476M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2024-06-30 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~53.0% on $112M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.97B 100.0% | $14.99B 100.0% | $7.12B 100.0% | $5.20B 100.0% | $3.56B 100.0% | $3.34B 100.0% | $3.50B 100.0% | $3.36B 100.0% | $2.48B 100.0% | $2.23B 100.0% |
| Cost of Revenue | $19.54B 88.9% | $12.93B 86.2% | $5.84B 82.0% | $4.40B 84.6% | $3.02B 85.0% | $2.81B 84.2% | $3.00B 85.8% | $2.93B 87.2% | $2.13B 85.9% | $1.89B 85.1% |
| Gross Profit | $2.43B 11.1% | $2.06B 13.8% | $1.28B 18.0% | $800.0M 15.4% | $534.5M 15.0% | $526.2M 15.8% | $495.5M 14.2% | $430.0M 12.8% | $350.0M 14.1% | $330.5M 14.9% |
| Research & Development | $636.5M 2.9% | $463.5M 3.1% | $307.3M 4.3% | $272.3M 5.2% | $224.4M 6.3% | $221.5M 6.6% | $179.9M 5.1% | $165.1M 4.9% | $144.0M 5.8% | $124.2M 5.6% |
| Selling, General & Admin | $267.2M 1.2% | $197.3M 1.3% | $99.6M 1.4% | $102.4M 2.0% | $100.5M 2.8% | $133.9M 4.0% | $141.2M 4.0% | $98.6M 2.9% | $44.6M 1.8% | $40.4M 1.8% |
| Total Operating Expenses | $1.18B 5.4% | $850.6M 5.7% | $521.9M 7.3% | $464.8M 8.9% | $410.6M 11.5% | $440.6M 13.2% | $398.3M 11.4% | $335.3M 10.0% | $255.1M 10.3% | $223.0M 10.0% |
| Operating Income | $1.25B 5.7% | $1.21B 8.1% | $761.1M 10.7% | $335.2M 6.5% | $123.9M 3.5% | $85.7M 2.6% | $97.2M 2.8% | $94.7M 2.8% | $94.9M 3.8% | $107.5M 4.8% |
| Interest Expense | $59.6M 0.3% | $19.4M 0.1% | $10.5M 0.1% | $6.4M 0.1% | $2.5M 0.1% | $2.2M 0.1% | $6.7M 0.2% | $5.7M 0.2% | $2.3M 0.1% | $1.6M 0.1% |
| Other Income (Expense), net | $18.5M 0.1% | $22.7M 0.2% | $3.6M 0.1% | $8.1M 0.2% | -$2.8M -0.1% | $1.4M 0.0% | -$1.0M -0.0% | -$773K -0.0% | -$984K -0.0% | $1.5M 0.1% |
| Pretax Income | $1.21B 5.5% | $1.21B 8.1% | $754.3M 10.6% | $336.8M 6.5% | $118.6M 3.3% | $84.8M 2.5% | $89.5M 2.6% | $88.2M 2.6% | $91.6M 3.7% | $107.4M 4.8% |
| Income Tax Expense | $156.9M 0.7% | $63.3M 0.4% | $110.7M 1.6% | $52.9M 1.0% | $6.9M 0.2% | $2.9M 0.1% | $14.9M 0.4% | $38.4M 1.1% | $24.4M 1.0% | $35.3M 1.6% |
| Net Income | $1.05B 4.8% | $1.15B 7.7% | $640.0M 9.0% | $285.2M 5.5% | $111.9M 3.1% | $84.3M 2.5% | $71.9M 2.1% | $46.2M 1.4% | $66.9M 2.7% | $72.1M 3.2% |
| Per Share | ||||||||||
| EPS (Basic) | $1.77 | $2.07 | $1.21 | $0.55 | $2.19 | $1.65 | $1.44 | $0.94 | $1.38 | $1.50 |
| EPS (Diluted) | $1.68 | $1.92 | $1.14 | $0.53 | $2.09 | $1.60 | $1.39 | $0.89 | $1.29 | $1.39 |
| Weighted Avg Shares (Basic) | 593.7M | 555.9M | 529.2M | 514.8M | 51.2M | 51.0M | 49.9M | 49.3M | 48.4M | 47.9M |
| Weighted Avg Shares (Diluted) | 628.4M | 602.1M | 559.7M | 536.2M | 53.5M | 52.8M | 51.7M | 52.2M | 51.7M | 51.8M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81 · book equity (no price)
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $1.5B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
No current price collected.
No material risks flagged.
Where each multiple sits in its own 14-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 87.2 | 85.8 | 84.2 | 85.0 | 84.6 | 82.0 | 86.2 | 88.9 |
| Gross Profit | 12.8 | 14.2 | 15.8 | 15.0 | 15.4 | 18.0 | 13.8 | 11.1 |
| R&D | 4.9 | 5.1 | 6.6 | 6.3 | 5.2 | 4.3 | 3.1 | 2.9 |
| SG&A | 2.9 | 4.0 | 4.0 | 2.8 | 2.0 | 1.4 | 1.3 | 1.2 |
| Operating Income | 2.8 | 2.8 | 2.6 | 3.5 | 6.5 | 10.7 | 8.1 | 5.7 |
| Income Tax | 1.1 | 0.4 | 0.1 | 0.2 | 1.0 | 1.6 | 0.4 | 0.7 |
| Net Income | 1.4 | 2.1 | 2.5 | 3.1 | 5.5 | 9.0 | 7.7 | 4.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SMCI: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.