Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

Common-Size Balance Sheet: Assets
Quarterly Data

Super Micro Computer Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Cash and cash equivalents 25.12 5.50 14.61 29.17 36.88 23.62 14.70 19.25 16.99 23.87 13.43 13.26 11.99 11.36 9.91 7.22 8.34 8.06 9.24 11.13 10.36 8.90 16.66 16.52
Accounts receivable, net of allowance for credit losses 20.46 35.87 39.30 17.55 15.72 24.61 31.45 25.17 27.86 18.62 27.81 20.65 31.25 21.05 24.98 22.30 26.04 22.13 18.58 18.88 20.69 20.38 17.05 17.77
Inventories 43.06 47.35 37.84 39.83 33.39 36.04 36.97 45.44 44.10 46.54 45.64 50.12 39.34 48.25 46.24 52.59 48.22 51.72 52.07 48.81 46.43 45.22 42.63 42.60
Prepaid expenses and other current assets 3.95 3.25 1.55 1.46 1.77 4.33 5.98 0.93 1.95 1.96 2.71 3.15 3.95 4.38 5.04 5.13 4.95 5.31 5.78 5.12 5.81 7.53 5.19 4.55
Current assets 92.59% 91.97% 93.30% 88.01% 87.75% 88.59% 89.09% 90.79% 90.90% 90.99% 89.59% 87.18% 86.52% 85.05% 86.16% 87.24% 87.56% 87.22% 85.68% 83.94% 83.29% 82.03% 81.53% 81.44%
Property, plant and equipment, net 2.09 2.59 1.92 3.62 3.60 4.59 4.91 4.16 4.21 4.35 5.50 7.12 7.90 9.08 9.41 8.81 8.92 9.19 10.47 11.71 12.25 13.29 13.48 13.31
Deferred income taxes, net 2.33 2.70 2.34 4.29 4.33 4.48 4.54 3.79 3.72 3.73 4.04 4.53 4.43 4.65 3.11 2.70 2.18 2.17 2.31 2.61 2.82 2.88 2.95 3.03
Other assets 2.99 2.74 2.44 4.08 4.31 2.34 1.47 1.26 1.17 0.94 0.87 1.17 1.15 1.22 1.32 1.26 1.34 1.42 1.54 1.74 1.64 1.80 2.04 2.21
Non-current assets 7.41% 8.03% 6.70% 11.99% 12.25% 11.41% 10.91% 9.21% 9.10% 9.01% 10.41% 12.82% 13.48% 14.95% 13.84% 12.76% 12.44% 12.78% 14.32% 16.06% 16.71% 17.97% 18.47% 18.56%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30).

The asset structure exhibits a progressive shift toward high liquidity and working capital, with current assets increasing from 81.44% of total assets in September 2020 to 92.59% by June 2026. This trend indicates a transition toward a more asset-light operating model relative to the overall growth of the balance sheet.

Working Capital Dynamics
Inventories consistently represent the largest portion of the asset base, generally fluctuating between 33% and 52%. While there was a period of contraction between December 2023 and June 2025, where inventories dipped to 33.39%, a subsequent increase to 47.35% by March 2026 suggests a renewed buildup of stock. Accounts receivable show a volatile but upward trajectory, rising from approximately 17% in 2020 to a peak of 39.30% in December 2025, which may indicate an expansion in credit sales or a lengthening of the collection cycle.
Cash Position and Liquidity
Cash and cash equivalents demonstrate significant volatility. After a period of relative stability and a subsequent dip to 7.22% in September 2022, the proportion of cash surged, peaking at 36.88% in June 2025. A sharp decline to 5.50% in March 2026, followed by a recovery to 25.12% in June 2026, suggests irregular cash inflows or significant periodic capital deployments.
Non-Current Asset Contraction
There is a pronounced long-term decline in the weight of non-current assets, which fell from 18.56% in September 2020 to 7.41% in June 2026. This is driven primarily by the erosion of Property, Plant and Equipment (PP&E), which plummeted from 13.31% to 2.09% over the analyzed period. This suggests that the growth in total assets is being driven by operational working capital rather than investments in physical infrastructure.
Other Asset Components
Prepaid expenses and other current assets decreased from a peak of 7.53% in March 2021 to 3.95% by June 2026, indicating these items have become less material to the overall asset composition. Deferred income taxes remained relatively stable, generally oscillating between 2% and 4.65% of total assets.

AI Ask an analyst for more