Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Super Micro Computer Inc., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
The analysis of liquidity ratios reveals a period of relative stability followed by a significant surge in liquidity, a sharp contraction, and a subsequent recovery phase. The overall trend indicates a substantial shift in the company's short-term financial position beginning in early 2024.
- Current Ratio
- The current ratio maintained a range between 1.79 and 2.89 from September 2021 through December 2023. A sharp escalation occurred starting March 31, 2024, where the ratio jumped to 4.69, eventually peaking at 6.66 by March 31, 2025. This period reflects an exceptionally high capacity to cover short-term obligations. However, a drastic decline is observed on December 31, 2025, with the ratio falling to 1.70, before rebounding to 3.87 by June 30, 2026.
- Quick Ratio
- The quick ratio remained largely below 1.20 between September 2021 and December 2023, suggesting a moderate reliance on inventory to meet short-term liabilities. Parallel to the current ratio, the quick ratio experienced a surge starting in March 2024, reaching a peak of 3.63 in March 2025. Similar to the broader liquidity trend, a significant drop to 0.98 occurred on December 31, 2025, followed by a recovery to 1.91 by June 30, 2026.
- Cash Ratio
- The cash ratio was consistently low, ranging from 0.17 to 0.36, from September 2021 until December 2023. A marked increase began in March 2024, peaking at 2.20 on June 30, 2025, indicating a period of extremely high cash availability relative to current liabilities. This was followed by a severe contraction to 0.27 on December 31, 2025, before recovering to 1.05 by June 30, 2026.
- Comparative Liquidity Analysis
- The synchronization of the peaks across all three ratios between early 2024 and mid-2025 suggests a massive influx of liquid assets, primarily cash, as evidenced by the cash ratio's growth. The stark divergence observed on December 31, 2025, across all metrics indicates a systemic reduction in liquidity or a significant increase in short-term liabilities. The subsequent recovery by June 2026 suggests a stabilization of the company's short-term financial health.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Current Ratio
Super Micro Computer Inc., current ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Current assets | 27,726,252) | 21,568,286) | 26,124,597) | 12,661,334) | 12,301,654) | 9,513,589) | 8,667,070) | 9,851,584) | 8,931,960) | 8,063,932) | 4,842,355) | 3,570,834) | 3,179,426) | 2,715,175) | 2,649,503) | 2,879,880) | 2,806,315) | 2,678,715) | 2,293,288) | 2,036,955) | ||||||
| Current liabilities | 7,160,106) | 8,122,635) | 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) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 3.87 | 2.66 | 1.70 | 5.39 | 5.25 | 6.66 | 6.38 | 3.43 | 3.81 | 4.69 | 2.43 | 2.23 | 2.31 | 2.49 | 2.89 | 2.13 | 1.91 | 1.79 | 1.91 | 1.85 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Apple Inc. | — | 1.00 | 1.07 | 0.97 | 0.89 | 0.87 | 0.82 | 0.92 | 0.87 | 0.95 | 1.04 | 1.07 | 0.99 | 0.98 | 0.94 | 0.94 | 0.88 | 0.86 | 0.93 | 1.04 | ||||||
| Arista Networks Inc. | — | — | 2.96 | 2.83 | 3.05 | 3.25 | 3.33 | 3.93 | 4.36 | 4.47 | 4.55 | 5.01 | 4.39 | 4.15 | 4.14 | 3.96 | 4.29 | 4.01 | 3.70 | 3.73 | ||||||
| Cisco Systems Inc. | 0.93 | 0.92 | 0.96 | 0.93 | 1.00 | 0.95 | 0.87 | 0.88 | 0.91 | 0.89 | 1.37 | 1.47 | 1.38 | 1.39 | 1.41 | 1.45 | 1.43 | 1.49 | 1.42 | 1.62 | ||||||
| Dell Technologies Inc. | 0.91 | 0.85 | 0.83 | 0.85 | 0.78 | 0.77 | 0.72 | 0.73 | 0.74 | 0.76 | 0.77 | 0.80 | 0.82 | 0.75 | 0.77 | 0.78 | 0.80 | 0.82 | 0.79 | 0.77 | ||||||
| Lumentum Holdings Inc. | 1.68 | 1.14 | 0.61 | 1.37 | 4.37 | 4.72 | 4.76 | 5.36 | 5.90 | 5.20 | 3.13 | 4.53 | 4.38 | 3.20 | 3.06 | 3.04 | 4.38 | 4.69 | 3.87 | 3.96 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Q4 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 27,726,252 ÷ 7,160,106 = 3.87
2 Click competitor name to see calculations.
The liquidity profile of the company exhibits three distinct phases: a period of relative stability, a phase of aggressive liquidity expansion, and a subsequent period of high volatility characterized by a sharp increase in short-term obligations followed by a recovery.
- Initial Stability Phase (September 2021 – September 2023)
- During this period, the current ratio remained consistently between 1.79 and 2.89. Current assets grew steadily from approximately 2.04 billion USD to 3.57 billion USD, while current liabilities fluctuated within a controlled range. This suggests a balanced approach to working capital management during the early part of the analyzed timeframe.
- Liquidity Expansion Phase (December 2023 – June 2025)
- A significant upward trend in the current ratio is observed starting in early 2024, peaking at 6.66 in March 2025. This surge was driven by a rapid expansion of current assets, which climbed from 4.84 billion USD in December 2023 to 12.3 billion USD by March 2025. The growth in assets vastly outpaced the growth in current liabilities, indicating a massive accumulation of short-term resources and an exceptionally high capacity to cover immediate obligations.
- Liability Spike and Liquidity Contraction (December 2025)
- A sharp contraction in liquidity occurred on December 31, 2025, where the current ratio dropped to 1.70, the lowest level since early 2022. This decline was caused by a substantial increase in current liabilities, which spiked to 15.4 billion USD from 2.3 billion USD in the previous quarter. Despite a concurrent increase in current assets to 26.1 billion USD, the magnitude of the new liabilities significantly compressed the liquidity margin.
- Recovery and Current Position (March 2026 – June 2026)
- Following the late 2025 volatility, a recovery trend is evident. By June 30, 2026, the current ratio improved to 3.87. This recovery was facilitated by a significant reduction in current liabilities, which decreased from the 15.4 billion USD peak to 7.16 billion USD, while current assets continued to grow, reaching 27.7 billion USD. This indicates a restoration of a strong liquidity cushion.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Quick Ratio
Super Micro Computer Inc., quick ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 7,521,474) | 1,290,324) | 4,091,083) | 4,196,867) | 5,169,911) | 2,536,101) | 1,430,002) | 2,088,718) | 1,669,766) | 2,115,476) | 725,660) | 543,156) | 440,459) | 362,801) | 304,595) | 238,268) | 267,397) | 247,424) | 247,407) | 270,047) | ||||||
| Accounts receivable, net of allowance for credit losses | 6,125,414) | 8,413,396) | 11,004,122) | 2,525,039) | 2,203,942) | 2,642,556) | 3,059,510) | 2,731,740) | 2,737,331) | 1,650,153) | 1,502,971) | 845,729) | 1,148,259) | 672,055) | 768,167) | 736,312) | 834,513) | 679,785) | 497,431) | 458,076) | ||||||
| Total quick assets | 13,646,888) | 9,703,720) | 15,095,205) | 6,721,906) | 7,373,853) | 5,178,657) | 4,489,512) | 4,820,458) | 4,407,097) | 3,765,629) | 2,228,631) | 1,388,885) | 1,588,718) | 1,034,856) | 1,072,762) | 974,580) | 1,101,910) | 927,209) | 744,838) | 728,123) | ||||||
| Current liabilities | 7,160,106) | 8,122,635) | 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) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 1.91 | 1.19 | 0.98 | 2.86 | 3.14 | 3.63 | 3.31 | 1.68 | 1.88 | 2.19 | 1.12 | 0.87 | 1.16 | 0.95 | 1.17 | 0.72 | 0.75 | 0.62 | 0.62 | 0.66 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Apple Inc. | — | 0.81 | 0.91 | 0.85 | 0.77 | 0.72 | 0.68 | 0.78 | 0.75 | 0.80 | 0.87 | 0.92 | 0.84 | 0.81 | 0.76 | 0.77 | 0.71 | 0.70 | 0.76 | 0.88 | ||||||
| Arista Networks Inc. | — | — | 2.29 | 2.18 | 2.35 | 2.48 | 2.58 | 3.07 | 3.46 | 3.52 | 3.47 | 3.67 | 3.16 | 2.86 | 2.73 | 2.65 | 3.05 | 2.89 | 2.73 | 2.97 | ||||||
| Cisco Systems Inc. | 0.64 | 0.66 | 0.69 | 0.67 | 0.74 | 0.69 | 0.64 | 0.65 | 0.69 | 0.68 | 1.10 | 1.18 | 1.13 | 1.11 | 1.13 | 1.16 | 1.16 | 1.23 | 1.20 | 1.41 | ||||||
| Dell Technologies Inc. | 0.59 | 0.55 | 0.53 | 0.45 | 0.41 | 0.43 | 0.40 | 0.40 | 0.44 | 0.47 | 0.47 | 0.48 | 0.52 | 0.41 | 0.44 | 0.44 | 0.49 | 0.60 | 0.53 | 0.55 | ||||||
| Lumentum Holdings Inc. | 1.31 | 0.93 | 0.41 | 0.94 | 2.87 | 3.18 | 3.24 | 3.65 | 4.02 | 3.47 | 2.24 | 3.65 | 3.57 | 2.53 | 2.47 | 2.45 | 3.92 | 4.25 | 3.44 | 3.51 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Q4 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 13,646,888 ÷ 7,160,106 = 1.91
2 Click competitor name to see calculations.
The liquidity profile exhibits a transition from a constrained position to a period of significant surplus, followed by a massive scale-up in both assets and liabilities toward the end of the observed period. The overall trend is characterized by a substantial increase in total quick assets, which grew from 728.1 million USD in September 2021 to a peak of 15.1 billion USD in December 2025.
- Initial Liquidity Constraints (September 2021 – September 2023)
- During this period, the quick ratio remained predominantly below 1.0, fluctuating between 0.62 and 0.95, with brief exceptions in December 2022 and June 2023. This indicates that quick assets were generally insufficient to cover current liabilities, reflecting a tighter liquidity position. Total quick assets grew modestly from 728.1 million USD to 1.39 billion USD, while current liabilities shifted from 1.1 billion USD to 1.6 billion USD.
- Liquidity Acceleration and Peak (December 2023 – September 2025)
- A sharp upward trend in liquidity is observed starting in December 2023. The quick ratio rose significantly, surpassing 2.0 in March 2024 and reaching a peak of 3.63 in March 2025. This surge was driven by rapid growth in quick assets, which reached 5.18 billion USD by March 2025, while current liabilities remained relatively controlled between 1.3 billion USD and 2.8 billion USD. This phase represents a period of high short-term financial flexibility.
- Scale Expansion and Stabilization (December 2025 – June 2026)
- A dramatic shift in the balance sheet occurred in December 2025, characterized by a simultaneous spike in both quick assets and current liabilities. Quick assets reached their maximum of 15.1 billion USD, but current liabilities surged to 15.4 billion USD, causing the quick ratio to drop sharply to 0.98. Subsequently, a recovery trend is observed through June 2026; as current liabilities decreased to 7.16 billion USD and quick assets remained strong at 13.6 billion USD, the quick ratio improved to 1.91, signaling a return to a robust liquidity position despite the significantly larger scale of operations.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Cash Ratio
Super Micro Computer Inc., cash ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 7,521,474) | 1,290,324) | 4,091,083) | 4,196,867) | 5,169,911) | 2,536,101) | 1,430,002) | 2,088,718) | 1,669,766) | 2,115,476) | 725,660) | 543,156) | 440,459) | 362,801) | 304,595) | 238,268) | 267,397) | 247,424) | 247,407) | 270,047) | ||||||
| Total cash assets | 7,521,474) | 1,290,324) | 4,091,083) | 4,196,867) | 5,169,911) | 2,536,101) | 1,430,002) | 2,088,718) | 1,669,766) | 2,115,476) | 725,660) | 543,156) | 440,459) | 362,801) | 304,595) | 238,268) | 267,397) | 247,424) | 247,407) | 270,047) | ||||||
| Current liabilities | 7,160,106) | 8,122,635) | 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) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 1.05 | 0.16 | 0.27 | 1.79 | 2.20 | 1.78 | 1.05 | 0.73 | 0.71 | 1.23 | 0.36 | 0.34 | 0.32 | 0.33 | 0.33 | 0.18 | 0.18 | 0.17 | 0.21 | 0.25 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Apple Inc. | — | 0.42 | 0.51 | 0.41 | 0.33 | 0.39 | 0.34 | 0.37 | 0.37 | 0.47 | 0.54 | 0.55 | 0.42 | 0.50 | 0.47 | 0.37 | 0.31 | 0.37 | 0.40 | 0.43 | ||||||
| Arista Networks Inc. | — | — | 1.96 | 1.88 | 2.00 | 2.17 | 2.18 | 2.61 | 3.04 | 3.05 | 2.90 | 3.06 | 2.62 | 2.41 | 2.26 | 2.10 | 2.34 | 2.37 | 2.27 | 2.50 | ||||||
| Cisco Systems Inc. | 0.38 | 0.42 | 0.43 | 0.44 | 0.46 | 0.45 | 0.42 | 0.46 | 0.44 | 0.47 | 0.83 | 0.87 | 0.84 | 0.81 | 0.81 | 0.79 | 0.75 | 0.83 | 0.81 | 1.00 | ||||||
| Dell Technologies Inc. | 0.18 | 0.19 | 0.15 | 0.15 | 0.08 | 0.11 | 0.09 | 0.12 | 0.15 | 0.17 | 0.16 | 0.16 | 0.17 | 0.09 | 0.10 | 0.13 | 0.17 | 0.32 | 0.21 | 0.26 | ||||||
| Lumentum Holdings Inc. | 1.10 | 0.82 | 0.31 | 0.74 | 2.23 | 2.46 | 2.58 | 3.00 | 3.29 | 2.74 | 1.86 | 3.27 | 3.18 | 2.17 | 2.06 | 2.02 | 3.56 | 3.88 | 3.08 | 3.08 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Q4 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,521,474 ÷ 7,160,106 = 1.05
2 Click competitor name to see calculations.
The analysis of the liquidity position reveals a transition from a period of constrained immediate liquidity to a phase of significant cash accumulation, followed by a period of high volatility in both assets and liabilities.
- Early Liquidity Phase (September 2021 – September 2023)
- During this period, the cash ratio remained consistently low, fluctuating between a minimum of 0.17 in March 2022 and a maximum of 0.34 in September 2023. Total cash assets grew modestly from approximately 270 million to 543 million, while current liabilities generally trended upward, indicating that immediate liquid assets covered less than one-third of short-term obligations.
- Liquidity Expansion Phase (December 2023 – June 2025)
- A sharp reversal in the liquidity trend occurred starting in December 2023. A significant increase in total cash assets, peaking at over 5.1 billion by June 2025, drove the cash ratio upward. The ratio surpassed the 1.0 threshold in March 2024, reaching a peak of 2.20 in June 2025. This indicates a period where the entity held more than double the cash necessary to settle all current liabilities immediately.
- Volatility and Liability Surge (September 2025 – June 2026)
- The latter part of the period is characterized by extreme fluctuations. A substantial spike in current liabilities to over 15.3 billion in December 2025 caused the cash ratio to drop precipitously to 0.27, despite cash assets remaining above 4 billion. This was followed by a correction in the first half of 2026, where current liabilities decreased to approximately 7.16 billion and cash assets reached a peak of 7.52 billion, resulting in a recovered cash ratio of 1.05 by June 2026.
The overall trajectory indicates a fundamental shift in the company's cash management strategy and capital structure, moving from a lean cash position to one of high liquidity, though recent quarters show significant instability in short-term liability levels.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?