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, 2026 Jun 30, 2025 Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021
Accounts payable
Customer deposits
Accrued payroll and related expenses
Customer-related liabilities
Input tax payable
Accrued interest, lines of credit and term loans
Accrued cooperative marketing expenses
Operating lease liability, current
Import tax and tariff liabilities
Accrued professional fees
Accrued Interest, convertible notes
Accrued warranty costs
Accrued preferred stock dividends
Other
Accrued liabilities
Income taxes payable
Lines of credit and term loans, current
Deferred revenue
Current liabilities
Deferred revenue, non-current
Lines of credit and term loans, non-current
Convertible notes
Other long-term liabilities
Non-current liabilities
Total liabilities
Preferred Stock and additional paid-in capital, $0.001 par value, Series A Mandatory Convertible Preferred Stock
Common stock and additional paid-in capital, $0.001 par value
Accumulated other comprehensive income
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: 2026-06-30), 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).

The capital structure demonstrates a fluctuating balance between total liabilities and stockholders' equity over the analyzed period. Total liabilities peaked at 55.52% in 2022 and 55.05% in 2025, while stockholders' equity reached its highest relative proportion of 55.13% in 2024. This suggests a dynamic approach to financing, transitioning between equity-heavy and debt-heavy positions.

Current Liabilities Trends
A significant contraction in the relative weight of current liabilities is observed, moving from a peak of 45.87% in 2022 to a low of 16.73% in 2025, before recovering to 23.91% in 2026. This trend is primarily driven by a steady and substantial decline in accounts payable, which dropped from 27.31% in 2021 to 7.50% in 2026. Additionally, deferred revenue showed a notable increase in 2026, reaching 5.27%, indicating a growth in advance payments from customers relative to the total balance sheet.
Non-Current Liabilities and Long-Term Debt
Non-current liabilities experienced a sharp increase starting in 2024, rising from 8.92% in 2023 to a peak of 38.32% in 2025. This surge is attributed to the introduction and expansion of convertible notes, which grew from 17.28% in 2024 to 33.14% in 2025 before decreasing to 15.58% in 2026. The long-term financing profile further evolved in 2026 with the introduction of mandatory convertible preferred stock, representing 14.11% of total liabilities and equity.
Stockholders' Equity Composition
The relative proportion of retained earnings showed a downward trajectory after 2023, falling from a peak of 39.00% to 18.87% by 2026. This indicates that retained earnings are contributing less to the overall funding of the balance sheet over time. Common stock and additional paid-in capital exhibited volatility, peaking at 28.81% in 2024, suggesting periodic equity infusions or adjustments to the capital base.
Liquidity and Obligations Analysis
Short-term credit utilization, as seen in lines of credit and term loans (current), remained inconsistent, with significant spikes in 2022 (14.01%) and 2026 (6.81%). Accrued liabilities remained relatively stable and low, though a trend of diminishing reliance on trade credit (accounts payable) is contrasted by a rising reliance on structured long-term instruments and preferred equity in the later years of the period.