Balance Sheet: Liabilities and Stockholders’ Equity
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.

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 (quarterly data)

US$ in thousands

	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
Accounts payable	13,753,207)	1,279,667)	1,281,977)	643,050)	549,323)	1,682,968)	1,472,381)	1,092,445)	1,261,533)	1,084,058)	776,831)	641,839)	559,962)	785,025)	655,403)	779,561)	695,180)	564,628)	612,336)	465,012)	396,288)	333,359)	417,673)	462,808)	392,537)	332,173)
Accrued liabilities	548,179)	313,393)	565,637)	344,679)	229,147)	308,777)	259,674)	290,370)	214,462)	152,500)	163,865)	155,224)	169,866)	213,521)	212,419)	181,448)	171,010)	175,221)	178,850)	153,742)	141,698)	121,710)	155,401)	177,148)	137,365)	132,292)
Income taxes payable	118,700)	56,235)	53,381)	23,633)	115,114)	79,708)	18,268)	20,021)	46,453)	161,395)	129,166)	92,598)	38,713)	68,411)	41,743)	17,413)	14,464)	14,273)	12,741)	9,616)	10,555)	6,325)	4,700)	1,979)	3,529)	3,806)
Lines of credit and current portion of term loans	201,776)	100,618)	75,060)	63,971)	154,988)	493,808)	402,346)	81,566)	276,307)	40,843)	170,123)	53,972)	27,869)	101,173)	449,146)	403,045)	176,904)	233,674)	63,490)	57,503)	24,921)	24,047)	23,704)	33,158)	23,250)	22,544)
Deferred revenue	774,846)	597,322)	368,737)	352,803)	309,238)	305,840)	193,052)	233,293)	193,334)	166,025)	134,667)	148,747)	120,530)	185,225)	111,313)	114,688)	142,021)	113,683)	101,479)	96,123)	99,509)	104,247)	106,157)	109,730)	115,059)	97,597)
Current liabilities	15,396,708)	2,347,235)	2,344,792)	1,428,136)	1,357,810)	2,871,101)	2,345,721)	1,717,695)	1,992,089)	1,604,821)	1,374,652)	1,092,380)	916,940)	1,353,355)	1,470,024)	1,496,155)	1,199,579)	1,101,479)	968,896)	781,996)	672,971)	589,688)	707,635)	784,823)	671,740)	588,412)
Deferred revenue, non-current	527,909)	430,682)	362,645)	312,994)	289,414)	252,342)	223,324)	203,198)	190,342)	174,478)	169,781)	161,176)	159,574)	134,625)	122,548)	115,063)	110,531)	101,749)	100,838)	93,920)	95,396)	97,576)	97,612)	95,752)	100,553)	104,293)
Term loans, non-current	21,437)	25,199)	37,415)	43,003)	53,409)	65,733)	74,083)	85,646)	99,322)	105,389)	120,179)	133,235)	142,273)	148,551)	147,618)	144,423)	139,032)	45,134)	34,700)	27,867)	20,577)	11,980)	5,697)	—)	—)	—)
Convertible notes	4,654,623)	4,649,889)	4,645,178)	2,385,320)	1,700,638)	1,699,177)	1,697,716)	1,696,255)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other long-term liabilities	408,756)	409,472)	326,528)	189,593)	88,611)	86,113)	67,878)	65,831)	46,173)	45,737)	37,947)	37,240)	37,313)	39,549)	39,140)	41,617)	40,615)	45,533)	41,132)	41,109)	40,908)	44,707)	41,995)	41,266)	33,193)	36,712)
Non-current liabilities	5,612,725)	5,515,242)	5,371,766)	2,930,910)	2,132,072)	2,103,365)	2,063,001)	2,050,930)	335,837)	325,604)	327,907)	331,651)	339,160)	322,725)	309,306)	301,103)	290,178)	192,416)	176,670)	162,896)	156,881)	154,263)	145,304)	137,018)	133,746)	141,005)
Total liabilities	21,009,433)	7,862,477)	7,716,558)	4,359,046)	3,489,882)	4,974,466)	4,408,722)	3,768,625)	2,327,926)	1,930,425)	1,702,559)	1,424,031)	1,256,100)	1,676,080)	1,779,330)	1,797,258)	1,489,757)	1,293,895)	1,145,566)	944,892)	829,852)	743,951)	852,939)	921,841)	805,486)	729,417)
Common stock and additional paid-in capital, $0.001 par value	2,987,932)	2,919,868)	2,866,449)	2,939,276)	2,907,052)	2,865,947)	2,830,820)	2,805,008)	1,190,276)	574,718)	538,352)	528,279)	514,559)	497,183)	481,741)	471,088)	460,990)	448,976)	438,012)	425,489)	410,522)	400,157)	389,972)	381,125)	360,060)	354,157)
Treasury stock, at cost	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(50,491)	(20,491)	(20,491)	(20,491)	(20,491)
Accumulated other comprehensive income (loss)	695)	698)	705)	663)	652)	800)	706)	549)	657)	651)	639)	683)	612)	514)	911)	554)	549)	449)	453)	362)	396)	95)	(152)	(166)	(135)	(220)
Retained earnings	4,003,388)	3,602,824)	3,434,539)	3,439,380)	3,330,603)	3,010,007)	2,585,680)	2,288,436)	1,885,977)	1,590,009)	1,433,014)	1,239,445)	1,303,506)	1,127,339)	942,923)	802,101)	725,129)	683,197)	657,760)	627,929)	653,129)	722,812)	696,211)	677,761)	661,954)	638,248)
Total Super Micro Computer, Inc. stockholders’ equity	6,992,015)	6,523,390)	6,301,693)	6,379,319)	6,238,307)	5,876,754)	5,417,206)	5,093,993)	3,076,910)	2,165,378)	1,972,005)	1,768,407)	1,818,677)	1,625,036)	1,425,575)	1,273,743)	1,186,668)	1,132,622)	1,096,225)	1,053,780)	1,064,047)	1,072,573)	1,065,540)	1,038,229)	1,001,388)	971,694)
Non-controlling interest	162)	170)	178)	160)	159)	163)	164)	163)	164)	161)	165)	166)	165)	167)	172)	176)	177)	176)	173)	168)	173)	169)	167)	166)	165)	162)
Total stockholders’ equity	6,992,177)	6,523,560)	6,301,871)	6,379,479)	6,238,466)	5,876,917)	5,417,370)	5,094,156)	3,077,074)	2,165,539)	1,972,170)	1,768,573)	1,818,842)	1,625,203)	1,425,747)	1,273,919)	1,186,845)	1,132,798)	1,096,398)	1,053,948)	1,064,220)	1,072,742)	1,065,707)	1,038,395)	1,001,553)	971,856)
Total liabilities and stockholders’ equity	28,001,610)	14,386,037)	14,018,429)	10,738,525)	9,728,348)	10,851,383)	9,826,092)	8,862,781)	5,405,000)	4,095,964)	3,674,729)	3,192,604)	3,074,942)	3,301,283)	3,205,077)	3,071,177)	2,676,602)	2,426,693)	2,241,964)	1,998,840)	1,894,072)	1,816,693)	1,918,646)	1,960,236)	1,807,039)	1,701,273)

A review of the provided financial information reveals significant changes in the company’s liabilities and stockholders’ equity over the observed period, spanning from September 2019 to December 2025. Overall, both total liabilities and total stockholders’ equity demonstrate substantial growth, particularly in the later periods. The most dramatic increases are observed from 2023 onwards.

Accounts Payable: Accounts payable generally increased from $332.173 million in September 2019 to $1,261.533 million in December 2023. However, a significant decrease is noted in the first half of 2024, falling to $549.323 million, before rising again to $1,472.381 million in March 2025 and $13,753.207 million in December 2025. This volatility suggests potential shifts in supplier credit terms or significant changes in purchasing patterns.
Accrued Liabilities: Accrued liabilities exhibited a relatively stable pattern between $132.292 million and $214.462 million from September 2019 through December 2021. A gradual increase is then observed, reaching $290.370 million in March 2024, and further increasing to $548.179 million by December 2025. This indicates a consistent, though moderate, rise in short-term obligations.
Income Taxes Payable: Income taxes payable remained relatively low and stable until September 2020, after which it began to increase, peaking at $161.395 million in September 2021. Fluctuations continued, with a notable increase to $41.743 million in June 2022, followed by a rise to $118.700 million in September 2025. These changes likely correlate with the company’s profitability and tax obligations.
Lines of Credit and Current Portion of Term Loans: This line item showed moderate fluctuations between $22.544 million and $63.490 million through June 2021. A substantial increase occurred in September 2021, reaching $233.674 million, followed by a decrease to $27,869 million in December 2022. A significant rise is then observed in June 2023, reaching $170.123 million, and continuing to $402,346 million in March 2025. This suggests increased reliance on short-term borrowing, particularly in later periods.
Deferred Revenue: Deferred revenue demonstrated a consistent upward trend from $97.597 million in September 2019 to $774.846 million in December 2025. This growth indicates an increasing volume of advance payments received for products or services not yet delivered, potentially reflecting growing customer demand or changes in revenue recognition policies.
Total Current Liabilities: Total current liabilities increased significantly throughout the period, rising from $588.412 million in September 2019 to $2,345.721 million in March 2025, and then decreasing to $1,357,810 million in December 2025. This increase suggests a growing need to finance short-term operations and obligations.
Non-Current Liabilities: Non-current liabilities also exhibited a substantial increase, particularly from 2021 onwards. The most significant change is the introduction of a large amount of convertible notes in March 2024, reaching $1,696,255 million, and increasing to $4,654,623 million by December 2025. This indicates a shift towards long-term financing, potentially through debt or equity-linked instruments. Overall, non-current liabilities rose from $141.005 million in September 2019 to $5,612,725 million in December 2025.
Total Liabilities: Total liabilities increased dramatically over the period, from $729.417 million in September 2019 to $28,001,610 million in December 2025. This substantial growth is primarily driven by the increases in both current and non-current liabilities, particularly the significant rise in convertible notes in the later periods.
Total Stockholders’ Equity: Total stockholders’ equity also increased substantially, from $971.856 million in September 2019 to $6,992,177 million in December 2025. This growth is largely attributable to increases in common stock and additional paid-in capital, as well as retained earnings. The increase in common stock and additional paid-in capital is particularly pronounced from 2023 onwards, coinciding with the increase in convertible notes.
Total Liabilities and Stockholders’ Equity: The combined total of liabilities and stockholders’ equity reflects the overall growth of the company, increasing from $1,701,273 million in September 2019 to $28,001,610 million in December 2025. This indicates a significant expansion in the company’s financial size and scale.

In summary, the company experienced substantial growth in both liabilities and stockholders’ equity over the analyzed period. The most notable changes occurred in the later years, particularly with the introduction of significant amounts of convertible notes and a corresponding increase in stockholders’ equity. The volatility in accounts payable warrants further investigation.

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Super Micro Computer Inc. (NASDAQ:SMCI)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data