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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2007
- Total Asset Turnover since 2007
- Price to Operating Profit (P/OP) since 2007
- Price to Sales (P/S) since 2007
- Analysis of Revenues
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Long-term Activity Ratios (Summary)
Super Micro Computer Inc., long-term (investment) activity ratios (quarterly data)
Based on: 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), 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).
The financial ratios over the indicated periods reveal notable trends in asset utilization and equity efficiency.
- Net Fixed Asset Turnover
- This ratio demonstrates a consistent upward trajectory from 13.65 at the end of September 2020 to a peak of 43.79 in March 2025. The increase is gradual with minor fluctuations, indicating improving efficiency in generating sales from fixed assets. Noteworthy is the sharper incline starting around December 2022, marking accelerated asset productivity.
- Total Asset Turnover
- The total asset turnover ratio exhibits a more variable pattern. Initially declining from 1.82 in September 2020 to a low near 1.33 by March 2024, it subsequently recovers to approximately 2.14 in March 2025 before tapering off. This suggests periods of decreased overall asset efficiency, followed by partial recovery, reflecting fluctuating operational effectiveness or asset base adjustments.
- Equity Turnover
- This ratio remains relatively stable with mild oscillations between 3.01 and 3.72 during most of the observed timeframe. A decline is evident beginning around September 2023, reaching the lowest value of 2.32 by March 2024. Post this phase, there is a gradual improvement but values stay below earlier peaks. This indicates some temporary erosion of sales generated per unit of equity but signs of cautious recovery are present.
Overall, the data indicates a strong and sustained improvement in fixed asset utilization, contrasted with more cyclical performance in total asset turnover and moderate fluctuations in equity turnover. The increase in net fixed asset turnover is particularly prominent, suggesting focused asset management or restructuring. Variability in total asset and equity turnover ratios may warrant further examination of asset composition and equity structure changes during the periods of decline and recovery.
Net Fixed Asset Turnover
Super Micro Computer Inc., net fixed asset turnover calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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-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), 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).
1 Q4 2025 Calculation
Net fixed asset turnover
= (Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- The net sales demonstrate a consistent upward trajectory from September 30, 2020, through June 30, 2025, despite some fluctuations. Starting at approximately $762 million, net sales increase steadily, peaking at over $5.9 billion by September 30, 2024, before a slight decline and subsequent recovery towards June 30, 2025. Notable growth spurts occur between March 31, 2023, and March 31, 2024, and again between June 30, 2024, and September 30, 2024, indicating periods of accelerated revenue expansion.
- Property, Plant, and Equipment, Net
- Net property, plant, and equipment values show a gradual increase over the timeframe. Starting at approximately $242 million in late 2020, this asset base grows steadily, with significant increments noted from December 31, 2023, onwards. By June 30, 2025, net fixed assets have increased to over $500 million, marking a doubling over the analysis period. This steady capital investment suggests ongoing expansion or modernization efforts in the company’s operations.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio displays a marked improvement over the period analyzed, rising from 13.65 at September 30, 2020, to values consistently above 40 from mid-2024 onwards. This increase indicates enhanced efficiency in generating sales from fixed assets. The ratio’s steady rise suggests that the company has either optimized asset utilization or experienced sales growth outpacing fixed asset additions, reflecting improved operational performance.
- Overall Insights
- Combining the observed trends, the company exhibits strong sales growth alongside measured increases in its fixed asset base. The significant rise in the net fixed asset turnover ratio implies effective asset management and robust sales generation capacity relative to capital employed. These patterns collectively indicate a positive performance trend with efficient usage of assets supporting substantial revenue growth.
Total Asset Turnover
Super Micro Computer Inc., total asset turnover calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ 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-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), 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).
1 Q4 2025 Calculation
Total asset turnover
= (Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
-
Net sales exhibit an overall upward trend over the analyzed period, with some fluctuations across quarters. Starting at approximately 762 million USD in late 2020, sales increased steadily, reaching a peak of nearly 5.9 billion USD by the middle of 2025. Notable surges are observed in late 2023 and early 2024, reflecting significant quarter-over-quarter growth. However, certain quarters experienced declines, for example, from late 2022 to early 2023 and in the second half of 2025, indicating some variability in revenue generation.
- Total Assets
-
Total assets have progressively grown during the period under review. Beginning at around 1.8 billion USD at the end of 2020, assets climbed steadily to over 14 billion USD by mid-2025. This growth trajectory suggests considerable investment or accumulation of resources. While assets generally increased each quarter, fluctuations appear, particularly towards late 2024 and mid-2025, where a slight dip is visible before continuing upward. This pattern may reflect asset reallocation, disposals, or other balance sheet adjustments.
- Total Asset Turnover
-
The total asset turnover ratio, which measures sales efficiency relative to asset base, has fluctuated within a range from approximately 1.3 to 2.2 over the course of the data. Initially, the ratio decreased from 1.82 in late 2020 to about 1.33 by early 2024, indicating reduced efficiency in leveraging assets for sales. Thereafter, an improvement is seen, with the ratio rising again to exceed 2.0 in some quarters, suggesting enhanced utilization of assets. These variations imply cycles of differing operational efficiency or changing asset structure affecting turnover.
Periods of declining turnover coincide in some cases with strong asset growth, which may be due to asset additions outpacing sales increases temporarily. Conversely, increases in turnover often align with accelerating sales growth or asset stabilizations.
- Overall Insights
-
Across the reviewed periods, the company demonstrates significant expansion in both net sales and total assets, indicating growth initiatives and scaling operations. The variability in asset turnover ratio points to evolving operational efficiency, with phases of both expansion and optimization. Monitoring the relationship between asset growth and sales generation remains critical to assess ongoing performance sustainability.
Equity Turnover
Super Micro Computer Inc., equity turnover calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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-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), 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).
1 Q4 2025 Calculation
Equity turnover
= (Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025)
÷ Total Super Micro Computer, Inc. stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited a general upward trend from September 2020 through September 2022, increasing from approximately $762 million to over $1.85 billion. This growth continued into 2023 with some fluctuations; a significant increase was observed from December 2022 to March 2023. From March 2023 to September 2023, net sales rose sharply, peaking around mid-2024 at approximately $5.9 billion. However, after reaching this peak, net sales showed some volatility, with periods of decline and recovery, settling at approximately $5.75 billion by June 2025.
- Total Stockholders’ Equity
- Stockholders’ equity demonstrated a steady increase throughout the timeframe. Starting at roughly $1.07 billion in September 2020, equity progressed consistently upward and exhibited notable acceleration beginning in late 2023, reaching a peak near $6.39 billion by March 2025. A slight decrease was observed at the end of the reporting period, with equity slightly declining to about $6.3 billion by June 2025. Overall, the equity base expanded significantly, reflecting potentially retained earnings and capital infusions aligned with business growth.
- Equity Turnover
- The equity turnover ratio, representing sales generated per unit of equity, started around 3.08 in September 2020 and increased gradually to peak just above 3.7 by March 2023, indicating improving efficiency in utilizing equity to generate sales. However, following this peak, the ratio experienced a notable decline through December 2023, falling to approximately 2.32 in March 2024. Subsequently, it recovered modestly, rising again to around 3.49 by June 2025. This pattern suggests fluctuations in how effectively the company employed its equity base to drive sales, with a period of decreased productivity around early 2024 before improvement resumed.