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.

Super Micro Computer Inc., consolidated balance sheet: assets

US$ in thousands

	Jun 30, 2026	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Cash and cash equivalents	7,521,474)	5,169,911)	1,669,766)	440,459)	267,397)	232,266)
Accounts receivable, net of allowance for credit losses	6,125,414)	2,203,942)	2,737,331)	1,148,259)	834,513)	463,834)
Inventories	12,895,949)	4,680,375)	4,333,029)	1,445,564)	1,545,606)	1,040,964)
Asset held for others	465,759)	—)	—)	—)	—)	—)
Prepaid inventory	315,373)	1,323)	—)	—)	—)	—)
Receivable from vendors	137,213)	155,254)	—)	—)	—)	—)
Prepaid expenses	92,294)	26,822)	—)	—)	—)	—)
Restricted cash	47,000)	—)	—)	—)	—)	—)
Prepaid income tax	29,028)	44,337)	—)	—)	—)	—)
Marketable equity security	23,110)	6,239)	3,686)	—)	—)	—)
Deferred service costs	17,442)	5,643)	—)	—)	—)	—)
Other	56,196)	7,808)	188,148)	145,144)	158,799)	130,195)
Prepaid expenses and other current assets	1,183,415)	247,426)	191,834)	145,144)	158,799)	130,195)
Current assets	27,726,252)	12,301,654)	8,931,960)	3,179,426)	2,806,315)	1,867,259)
Property, plant, and equipment, net	625,553)	504,488)	414,008)	290,240)	285,972)	274,713)
Deferred income taxes, net	697,441)	607,416)	365,172)	162,654)	69,929)	63,288)
Operating lease ROU asset	521,287)	293,692)	34,566)	19,160)	23,679)	20,047)
Long-term investments	148,017)	112,367)	60,996)	—)	—)	—)
Tariff receivable	65,351)	—)	—)	—)	—)	—)
Restricted cash, non-current	63,062)	2,390)	507)	—)	—)	—)
Deferred service costs, non-current	36,567)	10,713)	11,035)	—)	—)	—)
Deposits	27,481)	4,980)	4,508)	—)	—)	—)
Non-current accounts receivable	4,846)	166,405)	—)	—)	—)	—)
Other	29,610)	14,324)	3,340)	23,249)	19,182)	16,657)
Other assets	896,221)	604,871)	114,952)	42,409)	42,861)	36,704)
Non-current assets	2,219,215)	1,716,775)	894,132)	495,303)	398,762)	374,705)
Total assets	29,945,467)	14,018,429)	9,826,092)	3,674,729)	3,205,077)	2,241,964)

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 balance sheet reflects a period of extraordinary expansion, with total assets growing from US$ 2.24 billion in June 2021 to US$ 29.95 billion by June 2026. This represents a more than thirteen-fold increase in the company's asset base over five years, driven primarily by a massive surge in current assets, which constitute the vast majority of the total asset growth.

Current Asset Growth and Composition: Current assets experienced an aggressive upward trajectory, rising from US$ 1.87 billion in 2021 to US$ 27.73 billion in 2026. This growth is characterized by significant increases in three primary areas: cash, receivables, and inventories.
Liquidity Position: Cash and cash equivalents demonstrated exponential growth, increasing from US$ 232.3 million in 2021 to US$ 7.52 billion in 2026. This suggests a substantial accumulation of liquidity to support rapid operational scaling or strategic investments.
Inventory and Working Capital Management: Inventories showed the most dramatic absolute increase, climbing from US$ 1.04 billion in 2021 to US$ 12.90 billion in 2026. The sharp spike between 2023 and 2024, and again in 2026, indicates a massive expansion in production capacity or a strategic stockpiling of components to meet surging demand.
Accounts Receivable Trends: Net accounts receivable grew from US$ 463.8 million in 2021 to US$ 6.13 billion in 2026. While there was a slight contraction in 2025, the overall trend indicates a significant increase in credit sales and a larger customer base.
Non-Current Asset Evolution: Non-current assets grew more modestly than current assets, moving from US$ 374.7 million in 2021 to US$ 2.22 billion in 2026. This growth was led by an increase in deferred income taxes, net, which rose from US$ 63.3 million to US$ 697.4 million, and a significant jump in Operating lease Right-of-Use (ROU) assets starting in 2025, reaching US$ 521.3 million by 2026.
Fixed Asset Investment: Property, plant, and equipment, net, showed steady but slower growth compared to the liquid asset base, increasing from US$ 274.7 million in 2021 to US$ 625.6 million in 2026, suggesting a business model that leverages leased assets or outsourced capacity rather than heavy capital expenditure in owned infrastructure.

The overall asset structure has shifted heavily toward working capital and liquidity. By 2026, current assets represented approximately 92.6% of total assets, compared to 83.6% in 2021. This suggests a highly liquid but inventory-heavy operational model, characteristic of a company experiencing hyper-growth in a capital-intensive hardware sector.

Super Micro Computer Inc. (NASDAQ:SMCI)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items