Computer hardware

14 companies · $729B combined revenue · $171B operating profit

Open in ScreenerAsk AI about computer hardware

The typical US-listed computer hardware company grew revenue 10.1% and earnings 29.3% in its latest year, at a 11% operating margin, and 8 of 13 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.

10.1%Median revenue growth
29.3%Median earnings growth
3.2%Median revenue growth, 3 yrs
21.4%Median earnings growth, 3 yrs
11%Median operating margin
24.9%Median ROCE
Fastest revenue growthSandisk SNDK175%Fastest earnings growthWestern Digital WDC399%Highest ROCESandisk SNDK73.2%Biggest margin gainSandisk SNDK+79.9 pts

Growth engines: the 4 Cylinders

All four working: 30% of companies

A company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.

  • Sales growth · Revenue up 10% or more50%
  • Operating leverage · Operating income growing faster than a growing revenue83%
  • Margin expansion · Operating margin up 1 point or more54%
  • Debt reduction · Debt down 5% or more, or net cash58%

Combined revenue · 14 companies reporting in US dollars

Revenue
$0$200B$400B$600B$800BFY22FY23FY24FY25

Combined operating margin

Operating margin
0%10%20%30%FY22FY23FY24FY25

All 14 companies

Median–10.1%29.3%11%24.9%0.87x
AAPLApple$416B6.4%▼19.5%▼32%▲68.7%▲1.23x▼
DELLDell Technologies$114B18.8%▲29.3%7.2%▼21.4%▼–
SNDKSandisk$20.2B175%▲–61.2%▲73.2%▲0.00x▲
STXSeagate Technology$12.2B34.1%▲117%▲33.6%▲59.8%▲1.65x▼
WDCWestern Digital$12.9B35.7%▲399%▲34.5%▲46.3%▲0.12x▲
HPEHewlett Packard Enterprise$34.3B13.8%▲-97.8%▼-1.3%▼-0.9%▼0.87x
PEverpure$3.7B15.6%▲76.3%▲3.1%▼4.2%▼–
NTAPNetApp$6.9B5.4%▼7.6%▼24.2%▲24.9%1.84x▼
HPQHP$55.3B3.2%▼-8.9%▼5.7%▼25.4%▲–
SMCISuper Micro Computer$39.1B77.8%▲113%▲7.1%▼12.2%▼0.28x▲
LOGILogitech International$4.8B6.3%▼12.6%▼16%▲30.6%▲–
NATLNCR Atleos$4.4B1.1%▼102%▲11%12.7%▼6.84x▼
PBIPitney Bowes$1.9B-6.6%▼––––
DBDDiebold Nixdorf$3.8B1.5%▼–6.4%▼9.7%▼0.85x▲

▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).