Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

Paying user area

Try for free

Super Micro Computer Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

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

Microsoft Excel
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 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 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-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), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30).

The asset structure reflects a significant transition toward a more liquid, current-asset-heavy balance sheet over the analyzed period. Current assets have expanded from 83.49% of total assets in September 2019 to a peak of 93.30% in December 2024, indicating a business model increasingly reliant on working capital. This shift is mirrored by a corresponding contraction in non-current assets, which declined from 16.51% to 8.03% by March 2026.

Working Capital Composition
Inventories have consistently represented the largest portion of the asset base, generally fluctuating between 33% and 52%. A peak was observed in September 2022 at 52.59%, followed by a period of relative contraction before rising again to 47.35% by March 2026. Accounts receivable exhibit higher volatility, starting at 20.94% in 2019 and reaching a peak of 39.30% in December 2025, suggesting an increase in the proportion of credit-based sales relative to total assets in recent quarters.
Cash Position Volatility
Cash and cash equivalents have shown inconsistent trends. After maintaining a range of roughly 8% to 17% between 2019 and 2023, a period of extreme fluctuation occurred starting in 2024. Cash surged to a high of 36.88% in June 2025 before dropping sharply to 5.50% by March 2026, indicating significant shifts in liquidity management or capital deployment.
Fixed Asset Erosion
A pronounced downward trend is evident in the proportion of property, plant, and equipment (PP&E). From a high of 12.49% in September 2019, PP&E steadily declined to 2.59% by March 2026. This suggests that the growth in total assets has far outpaced investment in physical infrastructure, leading to a leaner fixed-asset footprint relative to the overall size of the company.
Other Asset Trends
Prepaid expenses and other current assets have seen a steady decline, falling from 8.20% in 2019 to 3.25% in 2026. Deferred income taxes remained relatively stable for the first half of the period, hovering around 2-3%, before increasing slightly to a range of 3.7% to 4.6% between 2023 and 2025, before receding to 2.70% in the final quarter.

Overall, the balance sheet has evolved from a more balanced distribution between current and non-current assets toward an extreme concentration in current assets. The recent surge in accounts receivable and the volatility in cash reserves suggest a dynamic operational environment with fluctuating liquidity requirements.