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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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $40.35 today, the market must believe free cash flow compounds 5.9%/yr for a decade (off $1.1B normalized FCF).
The market's 5.9% is more conservative than its 9-yr track record.
2-stage DCF · 0.59B shares · net debt -$5.1B
mean -293.4% · volatility σ 429% · implied rate exceeded in 1/5 yrs
Central path = implied 5.9%/yr growth; shaded band = ±1σ (429%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. 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.
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
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| SMCI | $24.0B | 24.0× | 14.6× | 1.1× | 46.6% | 11.1% | 4.8% | 16.6% | 16.4% | 0.1× | 695 |
Peers = companies sharing SMCI's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
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
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.
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.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 79th pct blended
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.
EOD close · as of 2026-09-17
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.