How Does Super Micro Computer Stock Stack Up Against Its Peers?
Super Micro Computer (SMCI) stock has underperformed over the past year, but how does its rapid AI and data-center scaling truly measure up against peers? A closer look reveals industry-leading revenue growth, yet lower profitability and free cash flow margins. Its moderate valuation offers potential upside, but sustained momentum hinges on improving efficiency amidst intense competition from larger, more established players and pure-play specialists.
- SMCI’s 3.7% operating margin is lowest, reflecting its lower-margin AI server assembly business, vs. ANET’s 42.8% from high-margin networking software.
- SMCI’s 34.8% revenue growth outpaces peers, driven by surging demand for its AI-optimized server solutions and GPU platforms.
- SMCI stock is down 13.8% (1-year), underperforming peers, reflecting margin pressure/customer concentration despite AI demand; its PE is 21.8.
Here’s how Super Micro Computer stacks up across size, valuation, and profitability versus key peers.
| SMCI | DELL | HPE | ANET | CSCO | NTAP | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 19.0 | 96.5 | 28.1 | 175.6 | 307.3 | 19.2 |
| Revenue ($ Bil) | 28.1 | 104.1 | 34.3 | 9.0 | 59.1 | 6.7 |
| PE Ratio | 21.8 | 18.5 | 493.4 | 50.0 | 27.7 | 15.8 |
| LTM Revenue Growth | 34.8% | 10.8% | 13.8% | 28.6% | 9.0% | 3.1% |
| LTM Operating Margin | 3.7% | 6.7% | 4.8% | 42.8% | 23.2% | 23.2% |
| LTM FCF Margin | 1.6% | 4.3% | 1.8% | 47.2% | 20.7% | 24.0% |
| 12M Market Return | -13.8% | 62.1% | 43.7% | 80.0% | 28.2% | 7.5% |
For more details on Super Micro Computer, read Buy or Sell SMCI Stock. Below we compare SMCI’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| SMCI | 34.8% | 46.6% | 110.4% | 37.1% |
| DELL | 10.8% | 8.1% | -13.6% | 1.1% |
| HPE | 13.8% | 13.8% | 3.4% | 2.2% |
| ANET | 28.6% | 28.6% | 19.5% | 33.8% |
| CSCO | 9.0% | 5.3% | -5.6% | 10.6% |
| NTAP | 3.1% | 4.9% | -1.5% | 0.7% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| SMCI | 3.7% | 5.7% | 8.1% | 10.7% |
| DELL | 6.7% | 6.5% | 6.1% | 5.6% |
| HPE | 4.8% | 4.8% | 8.3% | 8.4% |
| ANET | 42.8% | 42.8% | 42.0% | 38.5% |
| CSCO | 23.2% | 22.1% | 24.1% | 27.3% |
| NTAP | 23.2% | 21.7% | 20.2% | 18.2% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| SMCI | 21.8 | 16.6 | 14.7 | 23.5 |
| DELL | 18.5 | 19.3 | 24.5 | 23.0 |
| HPE | 493.4 | 557.9 | 10.8 | 10.9 |
| ANET | 50.0 | 46.9 | 48.7 | 34.9 |
| CSCO | 27.7 | 30.1 | 23.2 | 16.4 |
| NTAP | 15.8 | 18.4 | 24.5 | 15.0 |
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