As of Q2'26 (2025-12-31), SMCI's latest reported ROA stands at 1.43%, with ROE at 5.73% and ROIC at 3.70%. These figures reflect a modest recovery from the previous quarters, particularly after a period of notable decline in Q3'25 and Q4'25. Over the period from Q3'23 to Q2'26, the chart shows that SMCI's profitability ratios—ROA, ROE, and ROIC—experienced significant volatility. After peaking in Q4'23 (ROA at 5.27%, ROE at 9.82%, ROIC at 8.71%), all three metrics declined sharply through 2024 and into mid-2025, reaching their lowest points in Q3'25. A slight rebound is observed in the final two quarters, but overall, the trend highlights a challenging period for operational efficiency and returns, with only partial recovery by the end of the timeframe.