Overview

• Super Micro reported Q3 FY2025 net sales of $4.6 billion on May 6, marking 19.5% year-over-year growth that slightly exceeded consensus estimates.
• Shares have surged around 55% year-to-date and trade at a forward P/E of 27.7x and 1.9x sales, positioning them below many peers in the data-center hardware sector.
• Wall Street analysts forecast about 48% revenue growth to $22 billion in FY2025 and a further 35% rise to roughly $30 billion in FY2026.
• Deep collaboration with Nvidia on GPU integration and liquid-cooled server designs has bolstered Super Micro’s role in providing high-performance, energy-efficient AI infrastructure.
• Net margins have slipped to roughly 6.4% in the first nine months of fiscal 2025 due to higher liquid-cooling costs and delayed customer deployments, though scale and a premium product mix may drive recovery.