Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Super Micro Computer Inc., liquidity ratios
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 liquidity profile of the organization shows a period of aggressive expansion followed by a moderate correction. From 2021 to 2025, there is a consistent and significant increase across all liquidity metrics, indicating a strengthening of the short-term financial position and a substantial accumulation of liquid assets.
- Current Ratio
- A steady upward trajectory is observed from 1.93 in 2021, reaching a peak of 5.25 in 2025. The subsequent decline to 3.87 in 2026 suggests a rebalancing of current assets or an increase in current liabilities, although the ratio remains significantly elevated compared to the 2021-2022 baseline.
- Quick Ratio
- The quick ratio demonstrates a strong growth trend, rising from 0.72 in 2021 to 3.21 in 2025. The transition above the 1.0 threshold in 2023 indicates a shift toward a more conservative liquidity posture, where assets excluding inventory became sufficient to cover all short-term obligations.
- Cash Ratio
- The most pronounced volatility and growth are evident in the cash ratio, which climbed from a low of 0.18 in 2022 to a peak of 2.21 in 2025. The reduction to 1.06 in 2026 implies a significant deployment of cash reserves, yet the ending value represents a substantial improvement over the initial 2021 level of 0.24.
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Current Ratio
Super Micro Computer Inc., current ratio calculation, comparison to benchmarks
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current assets | 27,726,252) | 12,301,654) | 8,931,960) | 3,179,426) | 2,806,315) | 1,867,259) | |
| Current liabilities | 7,160,106) | 2,344,792) | 2,345,721) | 1,374,652) | 1,470,024) | 968,896) | |
| Liquidity Ratio | |||||||
| Current ratio1 | 3.87 | 5.25 | 3.81 | 2.31 | 1.91 | 1.93 | |
| Benchmarks | |||||||
| Current Ratio, Competitors2 | |||||||
| Apple Inc. | — | 0.89 | 0.87 | 0.99 | 0.88 | 1.07 | |
| Arista Networks Inc. | — | 3.05 | 4.36 | 4.39 | 4.29 | 4.34 | |
| Cisco Systems Inc. | 0.93 | 1.00 | 0.91 | 1.38 | 1.43 | 1.49 | |
| Dell Technologies Inc. | 0.91 | 0.78 | 0.74 | 0.82 | 0.80 | 0.80 | |
| Lumentum Holdings Inc. | 1.68 | 4.37 | 5.90 | 4.38 | 4.38 | 3.67 | |
| Current Ratio, Sector | |||||||
| Technology Hardware & Equipment | — | 0.98 | 0.92 | 1.05 | 0.96 | 1.09 | |
| Current Ratio, Industry | |||||||
| Information Technology | — | 1.39 | 1.24 | 1.41 | 1.37 | 1.55 | |
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).
1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 27,726,252 ÷ 7,160,106 = 3.87
2 Click competitor name to see calculations.
An examination of the liquidity position reveals a substantial expansion in the capacity to cover short-term obligations. Between June 30, 2021, and June 30, 2026, there is a marked increase in overall liquidity, driven primarily by an aggressive growth in current assets that significantly outpaced the growth of current liabilities for the majority of the period.
- Current Asset Trends
- A consistent upward trajectory is observed in current assets, which grew from US$ 1.87 billion in 2021 to US$ 27.73 billion by 2026. The growth accelerated sharply after June 30, 2023, with a particularly massive expansion occurring between 2025 and 2026, where assets more than doubled in a single year.
- Current Liability Dynamics
- Current liabilities remained relatively controlled compared to asset growth. Following a period of stability between 2024 and 2025, where liabilities held steady at approximately US$ 2.34 billion, a significant increase was recorded by June 30, 2026, rising to US$ 7.16 billion.
- Current Ratio Performance
- The current ratio demonstrates a strengthening solvency position, rising from 1.93 in 2021 to a peak of 5.25 in 2025. This peak indicates an exceptionally high cushion of liquid assets relative to short-term debts. By June 30, 2026, the ratio moderated to 3.87, reflecting the impact of the sharp increase in current liabilities during that final fiscal year.
The overall trend indicates a transition from a stable liquidity baseline to a highly liquid state, followed by a normalization period. Despite the decline from the 2025 peak, the current ratio remains substantially higher than the 2021-2023 levels, suggesting a robust short-term financial position.
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Quick Ratio
Super Micro Computer Inc., quick ratio calculation, comparison to benchmarks
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| 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) | |
| Receivable from vendors | 137,213) | 155,254) | —) | —) | —) | —) | |
| Restricted cash | 47,000) | —) | —) | —) | —) | —) | |
| Marketable equity security | 23,110) | 6,239) | 3,686) | —) | —) | —) | |
| Total quick assets | 13,854,211) | 7,535,346) | 4,410,783) | 1,588,718) | 1,101,910) | 696,100) | |
| Current liabilities | 7,160,106) | 2,344,792) | 2,345,721) | 1,374,652) | 1,470,024) | 968,896) | |
| Liquidity Ratio | |||||||
| Quick ratio1 | 1.93 | 3.21 | 1.88 | 1.16 | 0.75 | 0.72 | |
| Benchmarks | |||||||
| Quick Ratio, Competitors2 | |||||||
| Apple Inc. | — | 0.77 | 0.75 | 0.84 | 0.71 | 0.91 | |
| Arista Networks Inc. | — | 2.35 | 3.46 | 3.16 | 3.05 | 3.54 | |
| Cisco Systems Inc. | 0.64 | 0.74 | 0.69 | 1.13 | 1.16 | 1.32 | |
| Dell Technologies Inc. | 0.59 | 0.41 | 0.44 | 0.52 | 0.49 | 0.59 | |
| Lumentum Holdings Inc. | 1.31 | 2.87 | 4.02 | 3.57 | 3.92 | 3.25 | |
| Quick Ratio, Sector | |||||||
| Technology Hardware & Equipment | — | 0.76 | 0.72 | 0.84 | 0.73 | 0.90 | |
| Quick Ratio, Industry | |||||||
| Information Technology | — | 1.09 | 0.96 | 1.12 | 1.09 | 1.30 | |
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).
1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 13,854,211 ÷ 7,160,106 = 1.93
2 Click competitor name to see calculations.
The liquidity profile demonstrates a substantial strengthening of the short-term financial position over the analyzed period, characterized by an aggressive expansion of liquid resources.
- Growth in Quick Assets
- Total quick assets experienced exponential growth, rising from 696,100 thousand US dollars in 2021 to 13,854,211 thousand US dollars by 2026. This trajectory indicates a significant accumulation of highly liquid assets over the five-year span.
- Current Liability Dynamics
- Current liabilities remained relatively stable between 2021 and 2025, fluctuating within a range of 968,896 thousand to 2,345,721 thousand US dollars. However, a sharp escalation occurred in 2026, with liabilities increasing to 7,160,106 thousand US dollars.
- Quick Ratio Trajectory
- The quick ratio evolved from a position of potential liquidity risk to one of significant surplus. In 2021 and 2022, the ratio was below 1.0, meaning quick assets were insufficient to cover current liabilities. A pivotal shift occurred in 2023 as the ratio climbed to 1.16, continuing an upward trend to a peak of 3.21 in 2025. In 2026, the ratio moderated to 1.93, driven by the surge in current liabilities, though it remains well above the 1.0 threshold, suggesting a healthy capacity to meet short-term obligations without relying on inventory sales.
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Cash Ratio
Super Micro Computer Inc., cash ratio calculation, comparison to benchmarks
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Cash and cash equivalents | 7,521,474) | 5,169,911) | 1,669,766) | 440,459) | 267,397) | 232,266) | |
| Restricted cash | 47,000) | —) | —) | —) | —) | —) | |
| Marketable equity security | 23,110) | 6,239) | 3,686) | —) | —) | —) | |
| Total cash assets | 7,591,584) | 5,176,150) | 1,673,452) | 440,459) | 267,397) | 232,266) | |
| Current liabilities | 7,160,106) | 2,344,792) | 2,345,721) | 1,374,652) | 1,470,024) | 968,896) | |
| Liquidity Ratio | |||||||
| Cash ratio1 | 1.06 | 2.21 | 0.71 | 0.32 | 0.18 | 0.24 | |
| Benchmarks | |||||||
| Cash Ratio, Competitors2 | |||||||
| Apple Inc. | — | 0.33 | 0.37 | 0.42 | 0.31 | 0.50 | |
| Arista Networks Inc. | — | 2.00 | 3.04 | 2.62 | 2.34 | 3.07 | |
| Cisco Systems Inc. | 0.38 | 0.46 | 0.44 | 0.84 | 0.75 | 0.93 | |
| Dell Technologies Inc. | 0.18 | 0.08 | 0.15 | 0.17 | 0.17 | 0.26 | |
| Lumentum Holdings Inc. | 1.10 | 2.23 | 3.29 | 3.18 | 3.56 | 2.93 | |
| Cash Ratio, Sector | |||||||
| Technology Hardware & Equipment | — | 0.36 | 0.37 | 0.45 | 0.35 | 0.51 | |
| Cash Ratio, Industry | |||||||
| Information Technology | — | 0.64 | 0.57 | 0.71 | 0.67 | 0.89 | |
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).
1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,591,584 ÷ 7,160,106 = 1.06
2 Click competitor name to see calculations.
The analysis of the cash ratio reveals a substantial expansion in the organization's immediate liquidity position over the observed six-year period. From 2021 to 2023, the liquidity profile remained relatively constrained, with the cash ratio staying below 0.35. A significant shift occurred starting in 2024, characterized by a rapid accumulation of cash reserves that fundamentally altered the company's ability to cover short-term obligations using only its most liquid assets.
- Cash Asset Accumulation
- Total cash assets exhibited exponential growth, rising from US$ 232,266 thousand in June 2021 to US$ 7,591,584 thousand by June 2026. The most aggressive expansion took place between June 2023 and June 2025, during which cash holdings increased from US$ 440,459 thousand to US$ 5,176,150 thousand.
- Current Liabilities Dynamics
- Current liabilities showed a general upward trend, increasing from US$ 968,896 thousand in 2021 to US$ 2,344,792 thousand in 2025. A period of relative stability in liabilities was observed between June 2024 and June 2025. However, a sharp increase is noted in June 2026, where current liabilities rose significantly to US$ 7,160,106 thousand.
- Cash Ratio Evolution and Liquidity Peak
- The cash ratio experienced a dramatic ascent from 0.18 in June 2022 to a peak of 2.21 in June 2025. This peak indicates a period of extreme liquidity where cash assets were more than double the total current liabilities. In June 2026, the ratio moderated to 1.06, reflecting a realignment where cash assets almost exactly match the short-term liability obligations, primarily due to the surge in liabilities during that final period.
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