Super Micro Computer, Inc.

WBAG:SMC2 Stock Report

Market Cap: €19.4b

Super Micro Computer Valuation

Is SMC2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SMC2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SMC2 (€30.98) is trading below our estimate of fair value (€435.64)

Significantly Below Fair Value: SMC2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SMC2?

Key metric: As SMC2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SMC2. This is calculated by dividing SMC2's market cap by their current earnings.
What is SMC2's PE Ratio?
PE Ratio17x
EarningsUS$1.21b
Market CapUS$20.54b

Price to Earnings Ratio vs Peers

How does SMC2's PE Ratio compare to its peers?

The above table shows the PE ratio for SMC2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average58.1x
PSTG Pure Storage
127.2x36.2%US$17.4b
688036 Shenzhen Transsion Holdings
19.4x17.6%CN¥108.0b
603019 Dawning Information Industry
66.9x22.0%CN¥124.1b
6669 Wiwynn
18.7x20.2%NT$359.6b
SMC2 Super Micro Computer
15.8x24.3%€19.1b

Price-To-Earnings vs Peers: SMC2 is good value based on its Price-To-Earnings Ratio (15.8x) compared to the peer average (58.1x).

Price to Earnings Ratio vs Industry

How does SMC2's PE Ratio compare vs other companies in the European Tech Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SMC2 17.0xIndustry Avg. 21.9xNo. of Companies4PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SMC2 is good value based on its Price-To-Earnings Ratio (15.8x) compared to the Global Tech industry average (21.9x).

Price to Earnings Ratio vs Fair Ratio

What is SMC2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SMC2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SMC2's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SMC2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€30.98
€38.30
+23.6%
50.8%€88.34€21.85n/a10
Nov ’25€25.96
€57.81
+122.7%
38.7%€92.28€29.63n/a11
Oct ’25€37.69
€67.68
+79.6%
42.5%€117.44€29.36n/a15
Sep ’25n/a
€79.25
0%
39.5%€135.44€29.34n/a13
Aug ’25n/a
€95.36
0%
27.5%€138.41€29.99n/a14
Jul ’25n/a
€95.83
0%
28.1%€139.23€26.45n/a14
Jun ’25n/a
€95.83
0%
28.1%€139.23€26.45n/a14
May ’25n/a
€90.50
0%
32.7%€140.30€26.66n/a15
Apr ’25n/a
€84.82
0%
35.6%€124.55€23.07n/a15
Mar ’25n/a
€68.70
0%
34.2%€119.81€23.04n/a14
Feb ’25n/a
€52.41
0%
22.3%€64.56€23.06n/a11
Jan ’25n/a
€33.55
0%
26.0%€45.87€14.68n/a10
Dec ’24n/a
€35.33
0%
21.2%€47.08€22.60n/a10
Nov ’24n/a
€34.18
0%
20.4%€47.10€22.61€25.9610
Oct ’24n/a
€34.08
0%
18.6%€46.82€23.41€37.699
Sep ’24n/a
€33.59
0%
19.1%€45.56€22.78n/a8
Aug ’24n/a
€25.85
0%
43.7%€36.05€5.84n/a8
Jul ’24n/a
€21.05
0%
52.7%€36.49€5.93n/a7
Jun ’24n/a
€16.90
0%
60.5%€37.20€6.05n/a6
May ’24n/a
€9.65
0%
37.9%€16.05€5.96n/a5
Apr ’24n/a
€9.18
0%
39.3%€15.93€5.92n/a5
Mar ’24n/a
€9.18
0%
39.3%€15.93€5.92n/a5
Feb ’24n/a
€9.18
0%
39.3%€15.93€5.92n/a5
Jan ’24n/a
€9.93
0%
37.8%€16.79€6.41n/a5
Dec ’23n/a
€9.93
0%
37.8%€16.79€6.41n/a5
Nov ’23n/a
€8.72
0%
35.8%€13.89€5.58n/a5

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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