Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

$24.99

Common-Size Balance Sheet: Assets

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Super Micro Computer Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Cash and cash equivalents
Accounts receivable, net of allowance for credit losses
Inventories
Prepaid expenses and other current assets
Current assets
Property, plant and equipment, net
Deferred income taxes, net
Other assets
Non-current assets
Total assets

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).


Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets exhibited a decreasing trend from 14.75% in 2019 to 8.34% in 2022, followed by a notable recovery to 16.99% in 2024. This pattern may indicate fluctuating liquidity management, with a reduction phase and subsequent replenishment of liquid assets.
Accounts Receivable, Net of Allowance for Credit Losses
This item declined from 23.39% in 2019 to 20.69% in 2021, then sharply increased to a peak of 31.25% in 2023, slightly decreasing to 27.86% in 2024. The rise in accounts receivable as a percentage of total assets after 2021 could suggest expanded sales on credit or slower collections during that period.
Inventories
Inventory levels as a percentage of total assets showed an overall upward trend from 39.83% in 2019, peaking at 48.22% in 2022. This was followed by a drop to 39.34% in 2023 and a rise again to 44.1% in 2024. The fluctuations imply variable inventory accumulation strategies, possibly reflecting adjustments in demand forecasting or supply chain dynamics.
Prepaid Expenses and Other Current Assets
A steady decline from 6.53% in 2019 to 1.95% in 2024 is observed, indicating shrinking proportions of prepaid and miscellaneous current assets in the asset structure, which might reflect stricter control of prepayments or reduction in advance expenditures.
Current Assets
Current assets consistently composed the majority of total assets, maintaining high levels between 83% and 91%. The proportion increased from 84.5% in 2019 to 90.9% in 2024, underscoring a strong emphasis on liquidity and short-term resource allocation.
Property, Plant and Equipment, Net
The share of net property, plant, and equipment in total assets steadily declined from 12.32% in 2019 to 4.21% in 2024. This continuous decrease may indicate asset disposals, depreciation exceeding capital expenditures, or a strategic move away from fixed asset intensity.
Deferred Income Taxes, Net
This category fluctuated modestly, beginning at 2.44% in 2019, dipping and then rising to 4.43% in 2023 before slightly decreasing to 3.72% in 2024. The movements suggest variability in the timing differences of taxable income recognition or changes in tax positions.
Other Assets
Other assets remained a minimal fraction of total assets, varying between 0.73% and 1.94%, and stabilizing near 1.17% by 2024. This consistency points to a relatively minor and stable component of the asset base.
Non-Current Assets
The proportion of non-current assets in total assets showed a decline from 15.5% in 2019 to 9.1% in 2024, reflecting the overall decrease observed in property, plant and equipment and partly offset by deferred income taxes and other non-current asset components. This trend indicates a gradual shift towards a more current asset-focused balance sheet.