Stock Analysis on Net

Super Micro Computer Inc. (NASDAQ:SMCI)

$24.99

Balance Sheet: Assets
Quarterly Data

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.

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Super Micro Computer Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 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
Cash and cash equivalents
Accounts receivable, net of allowance for credit losses
Inventories
Prepaid expenses and other current assets
Current assets
Property, plant and equipment, net
Deferred income taxes, net
Other assets
Non-current assets
Total assets

Based on: 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 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).


Total assets exhibited a generally increasing trend over the observed period, though with notable fluctuations. From September 2019 through December 2021, growth was relatively steady. A significant acceleration in asset growth began in March 2022, continuing through December 2025, representing a period of substantial expansion. However, this growth was not linear, with a considerable increase in assets observed between September 2023 and March 2025.

Cash and Cash Equivalents
Cash and cash equivalents demonstrated considerable volatility. After peaking at US$309,038 thousand in December 2019, the balance decreased, reaching a low of US$177,894 thousand in March 2021. A subsequent increase occurred, but the most dramatic rise began in September 2023, culminating in a peak of US$2,115,476 thousand in March 2025. This suggests a significant influx of cash during this period, followed by a decrease to US$4,091,083 thousand by December 2025.
Accounts Receivable, Net
Accounts receivable generally increased throughout the period. A consistent upward trend was observed from September 2019 to December 2021. The rate of increase accelerated from March 2022, mirroring the overall asset growth. By December 2025, accounts receivable reached US$11,004,122 thousand, representing a substantial portion of total assets. The growth in receivables appears to be correlated with the overall increase in sales or revenue.
Inventories
Inventory levels also exhibited an increasing trend, though with some fluctuations. From September 2019 to March 2021, inventories fluctuated between approximately US$685,000 and US$904,000 thousand. A more pronounced increase began in September 2021, continuing through December 2025, reaching US$10,595,448 thousand. This substantial increase in inventory may indicate anticipated future demand or potential challenges in managing inventory turnover.
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets remained relatively stable until March 2024, after which a significant increase was observed, peaking at US$861,413 thousand in March 2025. This suggests a change in the company’s operational practices or a significant investment in prepaid items. The balance decreased to US$433,944 thousand by December 2025.
Non-Current Assets
Non-current assets demonstrated a steady, albeit less dramatic, increase throughout the period. Growth was consistent from September 2019 to December 2025, reaching US$1,877,013 thousand. The composition of these assets, including property, plant, and equipment, and deferred income taxes, contributed to the overall asset base.

The significant asset growth observed from March 2022 through December 2025 warrants further investigation to determine the underlying drivers, such as increased investment, acquisitions, or changes in working capital management. The substantial increases in cash, accounts receivable, and inventories suggest a period of rapid expansion and potentially increased operational complexity.


Assets: Selected Items


Current Assets: Selected Items