HP vs Supermicro
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KIRA’s take AI analyst
I put HP and Supermicro side by side, using each one’s latest annual report. Here is what stands out:
- HP is the larger business, with $55.3B of revenue in fiscal 2025 against $39.1B for Supermicro.
- Supermicro grew revenue faster (77.8%, against 3.2%).
- Supermicro kept more of each dollar of sales as operating profit (7.1% operating margin, against 5.7%).
- HP turned more of its sales into free cash flow (5.1% FCF margin, against −17.9%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
HP
HPQ
3/7
Gross marginFCF marginShare count change
Supermicro
SMCI
4/7
Revenue growth5-year growthOperating marginNet margin
Side by side
Best in the row
| Latest fiscal year | HPQ FY25 | SMCI FY26 |
|---|---|---|
| Size | ||
| Market cap | $31.6B | $22.8B |
| Revenue | $55.3B | $39.1B |
| Free cash flow | $2.8B | −$7.0B |
| Net income | $2.5B | $2.2B |
| Growth | ||
| Revenue growth | 3.2% | 77.8% |
| 5-year growth | −0.5% | 61.5% |
| Share count change | −3.6% | 11.0% |
| Profitability | ||
| Gross margin | 20.6% | 10.8% |
| Operating margin | 5.7% | 7.1% |
| Net margin | 4.6% | 5.7% |
| FCF margin | 5.1% | −17.9% |
| Return on capital | 55.3% | — |
| Return on equity | — | 21.5% |
| Balance sheet | ||
| Net debt | $6.0B | — |
| Net debt / EBITDA | 1.5x | — |
| Dividends and buybacks | $1.9B | $0.0M |
| Valuation & quality | ||
| P/E | 13.1x | — |
| Piotroski F-score | 6 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.