Stock Analysis on Net
Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

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

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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 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018
Accounts payable 5.99 5.65 15.51 14.98 12.33 23.34 26.47 21.14 20.10 18.21 23.78 20.45 25.38 25.97 23.27 27.31 23.26 20.92 18.35 21.77 23.61 21.72 19.52 21.42 20.66 26.47 26.80
Accrued liabilities 3.21 2.36 2.85 2.64 3.28 3.97 3.72 4.46 4.86 5.52 6.47 6.63 5.91 6.39 7.22 7.98 7.69 7.48 6.70 8.10 9.04 7.60 7.78 6.82 7.03 6.46 6.47
Income taxes payable 0.22 1.18 0.73 0.19 0.23 0.86 3.94 3.51 2.90 1.26 2.07 1.30 0.57 0.54 0.59 0.57 0.48 0.56 0.35 0.24 0.10 0.20 0.22 0.77 0.54 0.56 0.63
Lines of credit and current portion of term loans 0.60 1.59 4.55 4.09 0.92 5.11 1.00 4.63 1.69 0.91 3.06 14.01 13.12 6.61 9.63 2.83 2.88 1.32 1.32 1.24 1.69 1.29 1.33 1.41 1.41 2.77 4.56
Deferred revenue 3.29 3.18 2.82 1.96 2.63 3.58 4.05 3.66 4.66 3.92 5.61 3.47 3.73 5.31 4.68 4.53 4.81 5.25 5.74 5.53 5.60 6.37 5.74 5.60 5.46 4.52 4.03
Current liabilities 13.30% 13.96% 26.46% 23.87% 19.38% 36.86% 39.18% 37.41% 34.22% 29.82% 40.99% 45.87% 48.72% 44.82% 45.39% 43.22% 39.12% 35.53% 32.46% 36.88% 40.04% 37.17% 34.59% 36.01% 35.10% 40.79% 42.49%
Deferred revenue, non-current 2.91 2.97 2.33 2.27 2.29 3.52 4.26 4.62 5.05 5.19 4.08 3.82 3.75 4.13 4.19 4.50 4.70 5.04 5.37 5.09 4.88 5.56 6.13 6.49 6.57 5.95 5.62
Term loans, non-current 0.40 0.55 0.61 0.75 0.97 1.84 2.57 3.27 4.17 4.63 4.50 4.61 4.70 5.19 1.86 1.55 1.39 1.09 0.66 0.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Convertible notes 22.21 17.48 15.66 17.28 19.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other long-term liabilities 1.77 0.91 0.79 0.69 0.74 0.85 1.12 1.03 1.17 1.21 1.20 1.22 1.36 1.52 1.88 1.83 2.06 2.16 2.46 2.19 2.11 1.84 2.16 1.56 1.52 1.53 1.57
Non-current liabilities 27.29% 21.92% 19.38% 21.00% 23.14% 6.21% 7.95% 8.92% 10.39% 11.03% 9.78% 9.65% 9.80% 10.84% 7.93% 7.88% 8.15% 8.28% 8.49% 7.57% 6.99% 7.40% 8.29% 8.05% 8.09% 7.47% 7.18%
Total liabilities 40.59% 35.87% 45.84% 44.87% 42.52% 43.07% 47.13% 46.33% 44.60% 40.85% 50.77% 55.52% 58.52% 55.66% 53.32% 51.10% 47.27% 43.81% 40.95% 44.46% 47.03% 44.57% 42.87% 44.06% 43.19% 48.26% 49.67%
Common stock and additional paid-in capital, $0.001 par value 27.37 29.88 26.41 28.81 31.65 22.02 14.03 14.65 16.55 16.73 15.06 15.03 15.34 17.22 18.50 19.54 21.29 21.67 22.03 20.33 19.44 19.93 20.82 20.78 21.48 19.65 19.34
Treasury stock, at cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -2.78 -1.07 -1.05 -1.13 -1.20 -1.22 -1.27 -1.18 -1.18
Accumulated other comprehensive income (loss) 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.02 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.01 -0.01 -0.01 -0.01 -0.01 0.00 0.00 0.00 0.00
Retained earnings 32.03 34.24 27.74 26.31 25.82 34.89 38.82 39.00 38.82 42.39 34.15 29.42 26.12 27.09 28.15 29.34 31.41 34.48 39.79 36.29 34.58 36.63 37.52 36.37 36.60 33.27 32.16
Total Super Micro Computer, Inc. stockholders’ equity 59.41% 64.13% 54.16% 55.13% 57.48% 56.93% 52.87% 53.66% 55.39% 59.15% 49.22% 44.48% 41.47% 44.33% 46.67% 48.90% 52.72% 56.18% 59.04% 55.54% 52.96% 55.42% 57.12% 55.93% 56.80% 51.73% 50.32%
Non-controlling interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Total stockholders’ equity 59.41% 64.13% 54.16% 55.13% 57.48% 56.93% 52.87% 53.67% 55.40% 59.15% 49.23% 44.48% 41.48% 44.34% 46.68% 48.90% 52.73% 56.19% 59.05% 55.54% 52.97% 55.43% 57.13% 55.94% 56.81% 51.74% 50.33%
Total liabilities and stockholders’ equity 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% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).

Accounts payable
The percentage of accounts payable relative to total liabilities and stockholders' equity shows notable fluctuations. It declined from around 27% in late 2018 to lows of approximately 18-20% during mid-2020 and late 2022. A sharp decline is observed beginning late 2023 towards early 2025, dropping below 6%. This suggests a reduced reliance on accounts payable financing during the most recent periods analyzed.
Accrued liabilities
The accrued liabilities maintain a moderate and somewhat stable proportion generally between 6% and 9%, peaking near 9% in early 2020. A declining trend follows beginning in mid-2021, with values decreasing gradually to around 2-3% by early 2025, indicating a downward trend in accrued obligations.
Income taxes payable
Income taxes payable remain relatively low throughout the periods, mostly under 1%, except for a noticeable rise around 2022 and 2023, peaking near 3.9%. A subsequent decline back to below 1% occurs by early 2025, reflecting volatility in tax liabilities possibly due to varying taxable income or tax planning strategies.
Lines of credit and current portion of term loans
This component demonstrates significant variability, starting low under 5%, spiking sharply between late 2020 and mid-2022, reaching over 14%, then falling back to low single digits or less by early 2025. This pattern implies fluctuating short-term borrowing activities, peaking around 2021-2022 before substantial repayment or reduced borrowing.
Deferred revenue (current and non-current)
Current deferred revenue shows minor fluctuations mostly between 3.5% and 6.5%, with some decline seen after 2021, indicating slight contraction in unearned revenues. Non-current deferred revenue similarly declines gradually from near 6% in 2019 to around 2-3% by early 2025, signaling a modest reduction in long-term deferred income obligations.
Current liabilities
Current liabilities as a whole exhibit a downward trend from around 42-45% in 2018 to a trough near 19-26% in late 2023 and early 2025. This substantial decrease suggests the company might be managing to reduce its short-term obligations relative to total liabilities and equity.
Term loans, non-current
Non-current term loans data, available from mid-2020, initially increased sharply from near zero to over 5% by 2021-2022, followed by a steady decline to under 1% by early 2025. This suggests increased long-term borrowing peaking around 2021-2022, followed by repayments or refinancing.
Convertible notes
Convertible notes appear in data only from late 2023 onwards, constituting increasingly significant proportions—rising from about 15.7% to over 22% by late 2024, indicating new or increased convertible debt financing in recent periods.
Other long-term liabilities
These liabilities remain consistently low, mostly between 0.7% and 2.2%. A slight decline is noted over time, from higher levels in 2018-2019 towards under 1% by 2023, followed by a mild rise back toward 1.7% by early 2025, indicating relative stability in other long-term obligations.
Non-current liabilities
The non-current liabilities portion fluctuates between approximately 6% and 11% through 2018-2023, with a significant increase to above 19% by 2023-2025, largely influenced by the sudden appearance and growth of convertible notes and other liabilities. This points to increased long-term funding or deferred obligations in recent periods.
Total liabilities
Total liabilities as a percentage of the balance sheet decreased from near 50% in 2018 to about 36% by 2024, with some fluctuations, but a notable decline by early 2025 to around 36%, contrasting with an increase seen in 2023. This reflects an overall tapering of liabilities relative to total financing.
Common stock and additional paid-in capital
This equity component generally fluctuates between 14% and 22%, rising sharply to over 31% around late 2023 before retreating to about 27% by early 2025. These changes suggest significant equity issuances or adjustments during 2023, contributing to equity financing expansion during that period.
Treasury stock
Data on treasury stock is limited but shows a small negative value (around -1% to -2.8%) through early 2021, indicating some repurchased shares or cost of treasury stock. No data thereafter prevents further analysis.
Accumulated other comprehensive income (loss)
This item remains negligible throughout the periods, consistently close to zero, indicating minimal impact from foreign currency translation adjustments or other comprehensive income components.
Retained earnings
Retained earnings demonstrate growth from about 32% in 2018 to a peak near 42% around late 2022, followed by a decline to approximately 25-27% in mid-2024, then slight recovery by early 2025. The overall trend suggests accumulation of profits until 2022, then significant distributions or losses reducing accumulated earnings afterwards.
Total stockholders’ equity
Total equity rose from near 50% in 2018 to over 59% during 2022-2023, achieving a high of 64% by late 2024, before declining to about 59% by early 2025. The increases primarily driven by equity issuances and retained earnings growth, with some volatility towards the end.
Total liabilities and stockholders’ equity
This metric remains constant at 100%, confirming that all components are relative measures consistent over time.
Summary
The data reveals a trend toward gradually lower current liabilities and total liabilities proportion, accompanied by an increased equity base through additional paid-in capital and retained earnings for the majority of the period. The emergence and growth of convertible notes and term loans in recent years signal a shift to different long-term financing mechanisms. Declines in accrued liabilities and accounts payable proportions during recent periods suggest improved management of current payables. Overall, the financial structure indicates a strengthening equity position relative to liabilities with changes in financing mix towards the latter periods analyzed.