Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Super Micro Computer Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2007
- Net Profit Margin since 2007
- Return on Equity (ROE) since 2007
- Aggregate Accruals
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Super Micro Computer Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 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), 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).
A significant and accelerating expansion of the balance sheet is evident from September 2019 through March 2026. Total assets grew from 1.7 billion USD to a peak of 28 billion USD in December 2025, before settling at 23.5 billion USD by March 2026. This growth is primarily driven by a massive increase in current assets, which transitioned from a relatively stable baseline to an aggressive expansion phase starting in 2023.
- Current Asset Composition and Working Capital
- The growth in current assets is characterized by an exponential increase in inventories and accounts receivable. Inventories rose from 685 million USD in September 2019 to 11.1 billion USD by March 2026, indicating a substantial scaling of operational capacity or a buildup of stock to meet demand. Accounts receivable followed a similar trajectory, remaining under 1 billion USD until 2022, then spiking to 11 billion USD in December 2025. The simultaneous surge in both receivables and inventories suggests a rapid increase in sales volume accompanied by a lengthening of the cash conversion cycle.
- Cash Position and Liquidity Trends
- Cash and cash equivalents remained relatively flat between 2019 and 2022. A sharp upward trend began in 2023, with cash reserves peaking at 5.17 billion USD in June 2025. However, a significant contraction occurred in early 2026, with cash levels falling to 1.29 billion USD by March 2026. This decline in liquidity coincides with the peak levels of inventories and receivables, suggesting that liquid capital was deployed into working capital assets.
- Non-Current Asset Stability
- In contrast to current assets, non-current assets exhibit a more linear and modest growth pattern. Property, plant, and equipment (PP&E) increased from 212 million USD in September 2019 to 607 million USD in March 2026. This indicates that the company's expansion is not heavily reliant on large-scale investments in physical infrastructure, but is instead driven by operational throughput and inventory management.
- Tax and Other Asset Trends
- Deferred income taxes, net, showed a steady increase from 41.7 million USD in 2019 to 632.7 million USD by March 2026. This upward trend typically reflects timing differences between accounting and tax treatments of expenses or losses, often associated with rapid growth or significant capital investments.
The overall asset profile reveals a transition from a lean balance sheet to one characterized by high intensity in working capital. The extreme growth in receivables and inventories relative to the growth in PP&E suggests a business model focusing on high-volume turnover with a significant amount of capital tied up in the operating cycle.