Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Super Micro Computer Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Accounts payable	1,281,977)	1,472,381)	776,831)	655,403)	612,336)	417,673)
Accrued payroll and related expenses	82,156)	62,006)	—)	—)	—)	—)
Customer deposits	260,131)	46,942)	—)	—)	—)	—)
Accrued professional fees	8,098)	1,699)	—)	—)	—)	—)
Accrued warranty costs	9,753)	10,009)	9,079)	9,073)	10,185)	9,984)
Accrued cooperative marketing expenses	26,775)	15,967)	—)	—)	—)	—)
Operating lease liability, current	21,189)	9,248)	7,756)	7,139)	6,322)	6,310)
Accrued Interest - Convertible Notes	27,701)	—)	—)	—)	—)	—)
Customer-related liabilities	32,858)	42,370)	—)	—)	—)	—)
Input Tax Payable	39,161)	14,064)	—)	—)	—)	—)
Other	57,815)	57,369)	147,030)	196,207)	162,343)	139,107)
Accrued liabilities	565,637)	259,674)	163,865)	212,419)	178,850)	155,401)
Income taxes payable	53,381)	18,268)	129,166)	41,743)	12,741)	4,700)
Lines of credit and current portion of term loans	75,060)	402,346)	170,123)	449,146)	63,490)	23,704)
Deferred revenue	368,737)	193,052)	134,667)	111,313)	101,479)	106,157)
Current liabilities	2,344,792)	2,345,721)	1,374,652)	1,470,024)	968,896)	707,635)
Deferred revenue, non-current	362,645)	223,324)	169,781)	122,548)	100,838)	97,612)
Term loans, non-current	37,415)	74,083)	120,179)	147,618)	34,700)	5,697)
Convertible notes	4,645,178)	1,697,716)	—)	—)	—)	—)
Other long-term liabilities	326,528)	67,878)	37,947)	39,140)	41,132)	41,995)
Non-current liabilities	5,371,766)	2,063,001)	327,907)	309,306)	176,670)	145,304)
Total liabilities	7,716,558)	4,408,722)	1,702,559)	1,779,330)	1,145,566)	852,939)
Common stock and additional paid-in capital, $0.001 par value	2,866,449)	2,830,820)	538,352)	481,741)	438,012)	389,972)
Treasury stock, at cost	—)	—)	—)	—)	—)	(20,491)
Accumulated other comprehensive income (loss)	705)	706)	639)	911)	453)	(152)
Retained earnings	3,434,539)	2,585,680)	1,433,014)	942,923)	657,760)	696,211)
Total Super Micro Computer, Inc. stockholders’ equity	6,301,693)	5,417,206)	1,972,005)	1,425,575)	1,096,225)	1,065,540)
Non-controlling interest	178)	164)	165)	172)	173)	167)
Total stockholders’ equity	6,301,871)	5,417,370)	1,972,170)	1,425,747)	1,096,398)	1,065,707)
Total liabilities and stockholders’ equity	14,018,429)	9,826,092)	3,674,729)	3,205,077)	2,241,964)	1,918,646)

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 reveals significant dynamic changes in the company's liabilities and equity structure over the analyzed periods. The total liabilities exhibited a steep upward trajectory, particularly noticeable from June 2023 to June 2025, indicating aggressive leveraging or increased operational obligations.

Current Liabilities: Accounts payable showed a substantial rise from US$417.7 million in mid-2020 to a peak of US$1.47 billion by mid-2024 before slightly declining to US$1.28 billion in mid-2025. This suggests increased purchasing activity or extended credit terms with suppliers. Deferred revenue consistently expanded from US$106.2 million in 2020 to US$368.7 million in 2025, reflecting higher prepayments or contractual obligations. Lines of credit and current portion of term loans experienced volatility with remarkable spikes in 2022 and 2024, peaking at US$449.1 million and US$402.3 million respectively, then reducing significantly to US$75 million in 2025. Accrued liabilities more than doubled post-2023, culminating at US$565.6 million in 2025, indicating rising obligations for expenses incurred but not yet paid.
Non-current Liabilities: Non-current liabilities rose dramatically after 2022, escalating from US$309.3 million to over US$5.37 billion by 2025. A major contributor to this surge was the issuance of convertible notes which appeared only from 2024, amounting to US$1.70 billion and then nearly tripling to US$4.65 billion in 2025. This substantial long-term financing indicates a strategic capital raise potentially to fund growth initiatives or restructuring. Term loans, non-current, declined post-2022, suggesting repayment or conversion aligned with the increased convertible notes. Other long-term liabilities also expanded notably by 2025.
Stockholders’ Equity: Equity components also grew markedly, especially from mid-2023, with common stock and additional paid-in capital jumping from US$538.4 million to over US$2.86 billion by mid-2025. Retained earnings demonstrated strong profitability accumulation, increasing from US$696.2 million in 2020 to US$3.43 billion in 2025, emphasizing sustained earnings growth. The total stockholders’ equity surged from around US$1.07 billion in 2020 to more than US$6.30 billion in 2025, reflecting both retained profits and significant capital injections. The treasury stock account data was only available at the start and implies a buyback or retirement program before 2021.
Other Observations: Accrued payroll and associated expenses, customer deposits, and other accrued expenses began to be recorded from 2024 onwards, showing an increase which may correspond to expanding operations or enhanced reporting detail. Income taxes payable peaked in 2023 and then fluctuated, potentially reflecting changes in tax liabilities or payments. Operating lease liabilities moderately increased over time, with a notable jump in 2025, possibly tied to new lease agreements or accounting adjustments.

In summary, the company has markedly expanded its liabilities, both current and non-current, through increased payables, financing instruments like convertible notes, and other accrued expenses. Concurrently, substantial equity growth driven by retained earnings and capital infusions indicates a robust capital structure transformation. These patterns suggest strategic financial activities to support growth, possibly including significant investments or operational scaling. The elevated leverage and increased deferred revenues warrant ongoing monitoring to assess liquidity and financial stability.

Download chart

Super Micro Computer Inc. (NASDAQ:SMCI)

Balance Sheet: Liabilities and Stockholders’ Equity