Super Micro Computer, Inc. (SMCIP)

Electronic Computers

Latest Price

$60.52

TTM P/E

31.69

Normalized P/E

13.11

Div Yield

Book Value

12.67

P/B Ratio

4.78

Valuation metrics

EPS: $3.26

Book value / share: $22.04

Formula: √(22.5 × EPS × BVPS)

Graham Number

$40.21

34% downside

Norm. op. income: $761M (median of 7yr)

Tax rate: 13%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$21.13

65% downside

Base FCF: $1.1B (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$39.07

35% downside

EPS: $3.26

Target P/E: 13×

Formula: EPS × P/E

P/E Fair Value

$42.38

30% downside