Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Super Micro Computer Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Jun 30, 2025 Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020
Accounts payable
Accrued payroll and related expenses
Customer deposits
Accrued professional fees
Accrued warranty costs
Accrued cooperative marketing expenses
Operating lease liability, current
Accrued Interest - Convertible Notes
Customer-related liabilities
Input Tax Payable
Other
Accrued liabilities
Income taxes payable
Lines of credit and current portion of term loans
Deferred revenue
Current liabilities
Deferred revenue, non-current
Term loans, non-current
Convertible notes
Other long-term liabilities
Non-current liabilities
Total liabilities
Common stock and additional paid-in capital, $0.001 par value
Treasury stock, at cost
Accumulated other comprehensive income (loss)
Retained earnings
Total Super Micro Computer, Inc. stockholders’ equity
Non-controlling interest
Total stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-K (reporting date: 2025-06-30), 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).

Liabilities Trends
The proportion of total liabilities relative to total liabilities and stockholders’ equity demonstrates fluctuations over the periods analyzed. Initially increasing from 44.46% in 2020 to a peak of 55.52% in 2022, liabilities then decreased to 44.87% in 2024, before rising again to 55.05% in 2025.
Current liabilities exhibit a significant decline from 43.22% in 2021 to 16.73% in 2025, indicating a considerable reduction in short-term obligations. Within current liabilities, accounts payable notably declined from 27.31% in 2021 to 9.14% in 2025. Other current liability components such as accrued liabilities also decreased overall, though with some volatility.
Non-current liabilities, in contrast, increased markedly, especially in the latter periods, from 7.88% in 2021 to 38.32% in 2025. This surge is largely driven by the emergence and growth of convertible notes, which were absent before 2024 but constitute a substantial 33.14% in 2025. Other non-current liabilities remained relatively low with minor fluctuations.
Other individually itemized liabilities such as accrued payroll, customer deposits, accrued warranty costs, and operating lease liabilities consistently represent relatively small percentages, often below 1%, with some minor increases noted particularly for customer deposits and accrued professional fees in the later years.
Equity Composition and Changes
Stockholders’ equity as a percentage of total liabilities and stockholders’ equity declined from 55.54% in 2020 to a trough of 44.48% in 2022, then increased again to 55.13% in 2024 before decreasing to 44.95% in 2025. The trend somewhat mirrors the liabilities movement but with an inverse relationship, particularly evident in the latest years.
Retained earnings followed a decreasing trend overall, from 36.29% in 2020 to 24.5% in 2025, showing a reduction in accumulated profits retained in the company over the years, except for a peak in 2023 at 39.0%. This may signal variations in profitability or dividend strategies across the periods.
Common stock and additional paid-in capital displayed fluctuations, decreasing initially from 20.33% in 2020 to 15.03% in 2022, then increasing substantially to 28.81% in 2024, before falling again to 20.45% in 2025. This volatile movement suggests active capital financing or equity restructuring.
Accumulated other comprehensive income (loss) remained stable and minimal throughout the reporting periods, hovering near zero.
Capital Structure and Liability Details
The introduction and rapid growth of convertible notes starting in 2024 significantly altered the capital and liability structure, contributing to increased non-current liabilities. This shift may indicate new financing arrangements or debt restructuring.
Short-term financing lines such as lines of credit and current portion of term loans peaked at 14.01% in 2022 but declined thereafter to 0.54% in 2025, reflecting a reduction in short-term debt obligations.
Deferred revenue, both current and non-current, steadily decreased over time, signaling possibly lower prepaid income or advances from customers.
Other categories such as accrued liabilities and income taxes payable showed a tendency to decline, although income taxes payable saw a spike in 2023 at 3.51%.
Overall Financial Position Insights
The data indicates a trend toward increased reliance on long-term debt financing, particularly through convertible notes, while decreasing short-term liabilities and lines of credit. This shift may affect liquidity and solvency profiles.
The reduction in retained earnings and the fluctuation in paid-in capital may reflect changes in profitability, dividends, or equity issuance and buybacks.
The total mix of liabilities and equity shows a cyclical pattern of leverage, which impacts the company’s capital structure and risk profile over the periods reviewed.