Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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).
The financial data exhibits significant growth trends in both current and non-current assets over the analyzed periods, indicating an expanding asset base and potential scaling of operations.
- Cash and cash equivalents
- The cash position shows a substantial increase, rising from approximately 210.5 million to over 5.1 billion US dollars by the latest period. The sharpest escalation occurs between June 30, 2023, and June 30, 2025, with cash reserves multiplying nearly twelvefold, which could suggest improved liquidity or capital inflows.
- Accounts receivable, net of allowance for credit losses
- Accounts receivable more than quintupled from about 404 million to over 2.2 billion US dollars. A pronounced jump is identified between June 30, 2022, and June 30, 2024, indicating increased sales or extended credit terms to customers.
- Inventories
- Inventory values steadily increase, nearly sixfold from ~851 million to over 4.6 billion, with a peak at June 30, 2025. This pattern may reflect expanded production, stockpiling, or slower inventory turnover.
- Prepaid expenses and other current assets
- These assets increased moderately, from roughly 127 million to 247 million, signifying marginal growth in short-term prepayments or asset categories.
- Current assets
- Total current assets rose markedly, from around 1.59 billion to over 12.3 billion, underpinning a broad increase in liquid and near-liquid resources.
- Property, plant, and equipment, net
- Fixed assets expanded from approximately 234 million to just over 504 million US dollars, implying investments in long-term operational capacity.
- Deferred income taxes, net
- This asset more than increased elevenfold, suggesting either timing differences in income recognition or potential tax benefits accruing with company growth.
- Non-current accounts receivable
- Only reported in the last period with a value of approximately 166 million, pointing to receivables expected beyond one year.
- Operating lease right-of-use asset
- Fluctuations are evident, with a steep rise to nearly 294 million in the final period after lower values in prior years, possibly related to leasing arrangements or accounting changes under lease standards.
- Long-term investments and deferred service costs
- Introduced in the last two periods with values around 61 and 11 million, increasing to 112 and 10 million respectively, indicating new investment activities and service contract costs.
- Deposits and restricted cash, non-current
- Reported only in the final periods with small but increasing amounts, reflecting secured funds held over the long term.
- Other assets
- There is a notable rise in other assets, particularly in the final period where they multiply to exceed 600 million from just 37 million initially, indicating additional asset components becoming material.
- Non-current assets
- These assets experienced steady growth from about 326 million to over 1.7 billion with an accelerated increase particularly in the last period, consistent with overall asset base expansion.
- Total assets
- Total assets surged from roughly 1.92 billion to over 14 billion US dollars, showcasing a nearly sevenfold increase over the period analyzed. The growth is predominantly driven by substantial expansions in both current and non-current assets.
Overall, the trends reveal aggressive asset growth, significant accumulation of cash and receivables, and increased investment in inventory and fixed assets. This may indicate strategic initiatives toward scaling operations, expanded market demand, or capital investment for future growth. The large increases in deferred tax assets and other non-current assets suggest evolving tax positions and asset diversification. The presence of new asset categories in recent periods also reflects expanding financial complexity and possibly broader business activities.