Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Super Micro Computer Inc., liquidity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
The analyzed financial ratios exhibit varying trends over the examined periods, reflecting changes in liquidity and short-term financial stability.
- Current ratio
- The current ratio generally fluctuated between 1.79 and 2.51 for the majority of the periods from September 2018 through December 2023, indicating a moderate level of current assets relative to current liabilities. Notably, it experienced a significant increase starting in March 2024, rising sharply from 2.43 to 6.66 by the end of the analyzed timeline. This suggests a substantial improvement in the company's ability to cover short-term obligations with current assets in the most recent quarters.
- Quick ratio
- The quick ratio demonstrated moderate variability throughout the periods, mostly ranging from 0.62 to 1.17 up to December 2023, which implies a consistent but relatively conservative liquid asset position excluding inventory. A pronounced increase is observed starting March 2024, where the ratio surged from 1.12 to 3.63, mirroring the trend seen in the current ratio and denoting enhanced liquidity excluding inventory components.
- Cash ratio
- The cash ratio fluctuated at generally low levels, often below 0.5 through December 2023, indicating a relatively modest cash and cash equivalents buffer against current liabilities. Beginning March 2024, a marked increase occurred, peaking at 1.78 at the end of the data series. This change points to a significant accumulation of cash or cash equivalents, enhancing immediate liquidity and financial flexibility.
Overall, the data suggests that while liquidity ratios remained fairly stable with moderate fluctuations for several years, a noteworthy improvement in all three liquidity measures occurred starting in early 2024. The sharp rise in current, quick, and cash ratios in recent quarters implies an increasingly conservative liquidity management approach or a substantial inflow of liquid assets, enhancing the company's short-term financial resilience.
Current Ratio
Super Micro Computer Inc., current ratio calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current assets | |||||||||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Current ratio1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Apple Inc. | |||||||||||||||||||||||||||||||||||
| Arista Networks Inc. | |||||||||||||||||||||||||||||||||||
| Cisco Systems Inc. | |||||||||||||||||||||||||||||||||||
| Dell Technologies Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Q3 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in liquidity and current financial positions over the observed periods.
- Current Assets
- The current assets exhibit a general upward trajectory over the analyzed timeframe. Starting from approximately 1,495,690 thousand US dollars in September 2018, current assets show fluctuations but maintain an overall growth pattern. Significant increases are observed during certain intervals, particularly from mid-2021 onwards, with current assets peaking at over 8,000,000 thousand US dollars by the end of 2024 before a slight decrease occurs in subsequent quarters. This upward trend indicates a strengthening in the company's ability to meet short-term obligations.
- Current Liabilities
- Current liabilities also demonstrate variability but with less pronounced growth compared to current assets. The values range from approximately 738,882 thousand US dollars in September 2018, fluctuating and showing moderate growth until early 2022, after which they experience a decline reaching as low as around 1,357,810 thousand US dollars by December 2024. A notable dip appears toward the end of the dataset, indicating reduced short-term obligations or improved management of payables.
- Current Ratio
- The current ratio, a key liquidity metric, fluctuates within a broad range during the period under review. Initial values indicate a healthy liquidity position with a ratio above 2.0 in 2018 and early 2019. Subsequently, the ratio experiences a decline, dropping below 2.0 in mid to late 2021, suggesting a relative tightening in liquidity. Starting in late 2022, however, a sharp increase is observed, with the current ratio reaching exceptionally high levels above 6.0 by the fourth quarter of 2024. This notable surge signals a significant improvement in the company’s capacity to cover current liabilities with current assets, possibly reflecting either a buildup of liquid assets or a reduction in current liabilities.
Overall, the data imply that the company has progressively enhanced its liquidity position, particularly evident in the strong expansion of current assets relative to current liabilities toward the end of the period. The marked increase in the current ratio suggests a strategic emphasis on enhancing short-term financial stability or a change in operational or financial policies affecting working capital components.
Quick Ratio
Super Micro Computer Inc., quick ratio calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||||||||||||||
| Accounts receivable, net of allowance for credit losses | |||||||||||||||||||||||||||||||||||
| Total quick assets | |||||||||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Quick ratio1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Apple Inc. | |||||||||||||||||||||||||||||||||||
| Arista Networks Inc. | |||||||||||||||||||||||||||||||||||
| Cisco Systems Inc. | |||||||||||||||||||||||||||||||||||
| Dell Technologies Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Q3 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reflects notable fluctuations and trends in the liquidity position of the company over the examined periods.
- Total Quick Assets
- The total quick assets exhibit an overall upward trajectory, starting at approximately 557 million USD in September 2018 and generally rising to over 5.1 billion USD by the end of 2024. Despite some intermittent decreases between quarters, significant increases are observed particularly from late 2022 to early 2024, indicating a strong accumulation of liquid assets available for immediate obligations. The growth in quick assets suggests an enhanced capability to meet short-term liabilities.
- Current Liabilities
- Current liabilities display a less consistent pattern with fluctuations across the quarters. Beginning at about 739 million USD in the third quarter of 2018, current liabilities peak at nearly 2 billion USD around the end of 2023, followed by a sharp reduction to approximately 1.35 billion USD and then a minor increase toward the end of 2024. The peak in liabilities contrasts with the increase in quick assets and may indicate periods of increased short-term obligations or operational expenses. The subsequent decline in liabilities towards 2024 suggests a reduction in short-term debt or improved management of immediate obligations.
- Quick Ratio
- The quick ratio, representing the company's ability to pay current liabilities with quick assets, fluctuates significantly but shows a general improving trend toward the end of the period. Initially, the ratio hovers around 0.75 to slightly above 1.0, implying occasional liquidity constraints. There is a notable dip to around 0.62 between late 2020 and mid-2021, signaling tighter liquidity conditions during that time. However, from late 2022 onwards, the quick ratio markedly rises, reaching values above 3.0 in late 2024, indicating a substantial strengthening of immediate liquidity and a more than sufficient coverage of current liabilities by quick assets.
Overall, the liquidity position improves markedly in the latter part of the timeframe studied, driven primarily by a significant increase in quick assets outpacing current liabilities. This improvement in the quick ratio suggests enhanced financial flexibility and a strong buffer against short-term financial obligations in recent periods.
Cash Ratio
Super Micro Computer Inc., cash ratio calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||||||||||||||
| Total cash assets | |||||||||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Cash ratio1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Apple Inc. | |||||||||||||||||||||||||||||||||||
| Arista Networks Inc. | |||||||||||||||||||||||||||||||||||
| Cisco Systems Inc. | |||||||||||||||||||||||||||||||||||
| Dell Technologies Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Q3 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the financial data reveals distinct trends in liquidity and short-term financial obligations over the observed quarters.
- Total Cash Assets
- Total cash assets demonstrate significant fluctuations throughout the periods. Beginning around 105.8 million US dollars, the amount rises steadily with some volatility, reaching peaks exceeding 700 million US dollars near the end of 2023, followed by a sharp increase to over 2 billion US dollars by the first quarter of 2024. There is a notable dip in certain mid-periods but the overall trajectory is upward, indicating an increasing accumulation of liquid assets over time.
- Current Liabilities
- Current liabilities exhibit a generally rising trend from approximately 739 million US dollars to peaks nearing 2.9 billion US dollars by late 2024, before reducing again towards the end of the dataset. There are fluctuations throughout, with occasional periods of decline. However, the broader trend points to a growing level of short-term obligations that parallel increases seen in cash assets.
- Cash Ratio
- The cash ratio, which measures the ability to cover current liabilities with cash, varies substantially. Initially, the ratio starts very low around 0.14, rises gradually reaching near 0.5 by the end of 2020, then decreases again to as low as 0.17 during mid-2022. Notably, there is a sharp increase to levels above 1.0 during 2024, peaking at approximately 1.78 by September 2024. This improvement suggests enhanced liquidity coverage of current liabilities in recent quarters compared to earlier periods.
In summary, cash holdings experienced significant growth accompanied by an increase in current liabilities, culminating in improved liquidity ratios in the latter quarters. The recent surge in the cash ratio beyond 1.0 indicates a strengthened position to meet short-term obligations purely with cash, which may reflect strategic cash management or changes in operational financing needs.