Super Micro Computer Q4 2026 earnings: profit beat, margins rebound, bold FY2027 outlook
Supermicro's Q4 2026 profit crushed estimates on a sharp margin rebound, even as revenue landed just shy of forecasts; the company issued a bullish fiscal 2027 outlook on record orders.
| Q4 2026 | Reported | Expected | Surprise |
|---|---|---|---|
| EPS | $1.70 | $0.98 | +74.1% |
| Revenue | $11.12B | $11.78B | -5.6% |
Key takeaways
- Supermicro’s adjusted profit came in far above what analysts had penciled in, while revenue landed just under expectations — a reversal of the usual pattern where sales beat and profit disappoints.
- The bigger story was profitability: gross margin nearly doubled from a year earlier, which the company attributed to a more favorable mix of customers and products rather than one-off items.
- Even with that quarterly margin jump, trailing-twelve-month net profit margin sits around 3.7% and operating margin near 4.5% — a reminder that Supermicro operates a high-volume, historically thin-margin hardware business, even as it rides the AI server boom.
- Trailing revenue growth of over 56% year-over-year shows just how fast demand for its AI server systems has been scaling, even before this quarter’s guidance jump.
- Management said the company booked more than $60 billion in new orders during the quarter and enters fiscal 2027 with a record order backlog, a sign that demand visibility extends well beyond the current quarter.
- CEO Charles Liang pointed to that record backlog and order volume as the basis for a sharply raised outlook.
- For fiscal 2027, the company guided to $65-72 billion in annual revenue, well above the roughly $52 billion analysts had been modeling, and pointed to $14.5-15.5 billion in revenue for the September quarter alone.
- Coverage noted the stock had already climbed heading into the report on the strength of a preliminary update issued in July, and options markets were pricing in a large post-earnings swing given how high expectations had risen.
Q4 2026 in context
| Metric | Jun 2026 | Jun 2025 | Change |
|---|---|---|---|
| Revenue | $11.1B | $5.8B | +93.2% |
| Net income | $1.2B | $195M | +503.7% |
| Free cash flow | $719M | $841M | -14.5% |
| Gross margin | 17.5% | 9.5% | +8.0 pts |
| Operating margin | 13.4% | 4.0% | +9.4 pts |
| Net margin | 10.6% | 3.4% | +7.2 pts |
Figures for the quarter ended Jun 2026 and the quarter ended Jun 2025, as reported to the SEC. Fourth-quarter flows are derived as the fiscal year minus its first three quarters.
How the stock took it
Super Micro Computer Inc closed at $31.46 on Aug 10, 2026, the last session before the report, and at $37.61 on Aug 12, 2026, the first session after it — +19.6% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 8.4% | Trailing 12 months |
| Operating margin | 4.5% | Trailing 12 months |
| Net profit margin | 3.7% | Trailing 12 months |
| Pretax margin | 4.6% | Trailing 12 months |
| EPS | $1.84 | Trailing 12 months |
| Revenue growth (YoY) | 56.2% | Trailing 12 months |
| EPS growth (YoY) | 1.6% | Trailing 12 months |
| Return on equity | 18.2% | Trailing 12 months |
Sources: company report · earnings call · financial news coverage