Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2007
- Price to Operating Profit (P/OP) since 2007
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Long-term Activity Ratios (Summary)
Super Micro Computer Inc., long-term (investment) activity 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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibits an overall increasing trend over the analyzed period. Starting from values around 16.88 in mid-2019, the ratio gradually decreased to a low of approximately 12.74 by early 2021, indicating a reduced efficiency in generating sales from fixed assets during that timeframe. Following this dip, there is a marked upward trajectory continuing through 2021 into 2025, where the ratio reaches a peak near 43.79. This significant improvement suggests enhanced utilization of fixed assets or increased sales relative to the fixed asset base in the most recent periods.
- Total Asset Turnover
- The total asset turnover ratio shows notable variability with a modest declining pattern from 2019 through mid-2021, dropping from just above 2.0 to a low near 1.33 by the end of 2023. This trend indicates a decrease in overall asset efficiency during this window. However, beginning in late 2023, there is a recovery phase where the ratio climbs back above 2.0 by early 2025. Despite the intermediate trough, the ratio maintains levels consistent with generating slightly more than one unit of sales per unit of total assets on average, with recent improvements reflecting better asset utilization.
- Equity Turnover
- Equity turnover presents a more complex pattern with an initial decline from about 3.72 in 2019 to around 2.32 by late 2023, showcasing a reduction in sales generated per unit of shareholder equity over time. This decline may indicate growth in equity outpacing sales revenue growth. From late 2023 onward, a recovery trend emerges, with the ratio increasing back towards approximately 3.38 by early 2025. Overall, despite fluctuations, the equity turnover exhibits resilience with the recent upturn suggesting improved efficiency in leveraging shareholder equity to drive sales.
Net Fixed Asset Turnover
Super Micro Computer Inc., net fixed asset turnover 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) | |||||||||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||||||||
| Property, plant and equipment, net | |||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, 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
Net fixed asset turnover
= (Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited variability across the observed quarters with an initial decline from 971,118 thousand US dollars in September 2018 to a low of 743,499 thousand US dollars in March 2019. Subsequently, sales showed a general upward trend, reaching peaks above 1,150,000 thousand US dollars towards the end of 2021 and the beginning of 2022. The period from mid-2022 to early 2023 displayed a significant increase, culminating in a notable peak of over 3,600,000 thousand US dollars by December 2023. Sales remained elevated but showed a slight decrease towards the latter quarters of the dataset ending in September 2024.
- Property, Plant, and Equipment, Net
- The net value of property, plant, and equipment consistently increased over the entire period, rising from approximately 198,158 thousand US dollars in September 2018 to 492,565 thousand US dollars by September 2024. The steady incremental growth indicates ongoing investment or capital expenditure in fixed assets, with more pronounced increases visible from December 2023 onward.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio was first reported for March 2019 at 16.88 and demonstrated a generally upward trend over the subsequent periods. The ratio increased from 13.65 in September 2020 to over 25 by December 2023, peaking at 43.79 in September 2024. This upward movement suggests improving efficiency in the use of fixed assets to generate sales, with asset turnover more than doubling over the observed quarters. This enhanced efficiency aligns with the strong growth observed in net sales during the latter part of the period.
- Overall Insights
- The data signals a recovery and growth phase after early declines in net sales, supported by continued investments in fixed assets. The significant rise in the net fixed asset turnover ratio indicates enhanced operational efficiency in utilizing fixed assets for revenue generation. The combined trend of rising net sales and improving asset turnover suggests positive performance developments, although some recent fluctuations in sales may warrant further examination for sustainability.
Total Asset Turnover
Super Micro Computer Inc., total asset turnover 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) | |||||||||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Total Asset Turnover, 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
Total asset turnover
= (Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrate noticeable fluctuations over the reported periods, with initial values around 970 million US dollars in late 2018, followed by a decline reaching approximately 743 million by the first quarter of 2019. Subsequently, there is a rebound trend throughout 2019 and early 2020, with periodic declines, notably during the second and third quarters of 2020. From 2021 onwards, there is a generally upward trend, peaking at over 5.9 billion by the end of 2024, indicating substantial growth in revenue over the latter periods despite some short-term variability.
- Total Assets
- Total assets show a steady increase over time, starting at about 1.7 billion US dollars in late 2018 and reaching nearly 11 billion by the end of 2024. The growth is generally consistent, with moderate acceleration from 2021 onwards. There are some slight decreases observed in the late 2022 to early 2023 period, but the overall trajectory remains upward, reflecting considerable expansion in the asset base during the period under review.
- Total Asset Turnover
- The total asset turnover ratio, available only from the first quarter of 2019, ranges between approximately 1.33 and 2.16. Initial values indicate a high turnover above 2.0, suggestive of efficient asset utilization early in the timeline. There is a gradual decrease in this ratio throughout 2019 and into early 2020, with the lowest point around 1.33 in late 2023. A recovery follows, with turnover rising again to over 2.0 by mid-2024. This pattern indicates fluctuating efficiency in generating sales from assets, with periods of lower and higher operational productivity.
- Overall Insights
- The data reveals significant revenue growth over the longer term, particularly from 2021 forward, accompanied by an expansion of total assets. Although asset growth is substantial, asset turnover ratios suggest that efficiency in using these assets to generate sales varies, with some periods of reduced turnover implying less efficient asset use. The recovery in asset turnover toward the end of the series may indicate improved operational performance or better capital deployment. The growth in net sales alongside asset expansion signifies a scaling business, yet the varying turnover ratio suggests ongoing attention to asset management efficiency is warranted.
Equity Turnover
Super Micro Computer Inc., equity turnover 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) | |||||||||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||||||||
| Total Super Micro Computer, Inc. stockholders’ equity | |||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Equity Turnover, 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
Equity turnover
= (Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024)
÷ Total Super Micro Computer, Inc. stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales Trends
- The net sales figures exhibit notable fluctuations over the observed quarterly periods. Initially, sales experienced a general decline from September 2018 through March 2020, dropping from approximately 971 million USD to around 772 million USD. Following this downturn, the company saw a resurgence, with sales rising steadily and peaking in December 2021 at over 1.17 billion USD. This upward trajectory continued markedly with substantial increases through 2022 and into early 2023, reaching a peak of approximately 3.66 billion USD in December 2023. Subsequently, net sales showed a downward adjustment in early 2024, though remaining substantially higher than the earlier years.
- Stockholders’ Equity Analysis
- The total stockholders' equity showed a consistent upward trend across all periods. Starting from about 875 million USD in September 2018, equity steadily increased quarter over quarter, with no observed declines. The growth accelerated significantly in the latter part of the dataset, particularly from March 2022 onward, reaching beyond 6.3 billion USD by September 2024. This continuous increase suggests a progressively strengthening capital base and accumulating retained earnings or paid-in capital during the timeframe analyzed.
- Equity Turnover Ratio Behavior
- Equity turnover ratios were mostly unavailable in the early periods but became consistently reported from September 2019 onward. Initially, the ratio demonstrated a slow decline, moving from 3.72 to 3.06 by December 2020, indicating a gradual reduction in sales relative to equity. However, from early 2021 through mid-2023, the ratio stabilized around 3.2 to 3.7, showing relatively efficient use of equity to generate sales. Notably, there was a downward trend at the end of 2023 into quarter one of 2024, reaching a low of around 2.32, which then partially recovered to above 3.3 by September 2024. This fluctuation may reflect changes in the efficiency of equity usage relative to the sharp sales increases followed by partial pullbacks.
- Overall Insights
- The financial data indicates a phase of consolidation and growth in equity, coupled with notable volatility in net sales, including periods of decline and rapid expansion. The sharp rise in sales from 2022 onwards suggests possible successful market expansions or product launches. Meanwhile, the steady growth in equity provides a foundation supporting this expansion. The equity turnover variations imply shifts in operational efficiency or asset management responsiveness during periods of sales volatility.