Super Micro Computer Inc (SMCI)

Quick ratio

		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
Cash	US$ in thousands	5,169,910	2,536,100	1,430,000	2,088,720	1,669,770	2,115,480	725,660	543,156	440,459	362,801	304,595	238,268	267,397	247,424	247,407	270,047	232,266	177,894	315,610	300,089
Short-term investments	US$ in thousands	—	3,482	100	—	—	100	100	100	200	200	1,590	1,590	300	1,556	1,556	1,556	1,556	1,699	1,699	1,699
Receivables	US$ in thousands	2,374,600	2,657,280	3,059,510	2,731,740	2,668,420	1,650,150	1,502,970	845,729	1,148,260	672,055	768,167	736,312	834,513	679,785	497,431	458,076	463,834	407,365	323,021	322,845
Total current liabilities	US$ in thousands	2,344,790	1,428,140	1,357,810	2,871,100	2,403,940	1,717,700	1,992,090	1,604,820	1,374,650	1,092,380	916,940	1,353,360	1,470,020	1,496,160	1,199,580	1,101,480	968,896	781,996	672,971	589,688
Quick ratio		3.22	3.64	3.31	1.68	1.80	2.19	1.12	0.87	1.16	0.95	1.17	0.72	0.75	0.62	0.62	0.66	0.72	0.75	0.95	1.06

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($5,169,910K + $—K + $2,374,600K) ÷ $2,344,790K
= 3.22

The quick ratio of Super Micro Computer Inc. has exhibited notable fluctuations over the analyzed period from September 2020 to June 2025. Initially, as of September 30, 2020, the ratio stood at 1.06, indicating that the company's liquid assets exceeded its current liabilities, reflecting a prudent liquidity position. Throughout the subsequent quarters, the ratio experienced a decline, reaching a low of 0.62 by March 2022, which suggests that the company's liquid assets were insufficient to cover its immediate obligations at that time, potentially signaling increased liquidity risk or operational adjustments.

From late 2022 onward, the quick ratio demonstrated an upward trend, surpassing the 1.0 threshold, with notable increases observed from December 2022 (1.17) to March 2024 (2.19). This indicates a strengthening in the company’s liquidity position, with liquid assets increasingly covering current liabilities. The ratio continued to improve, reaching 3.64 by March 2025, suggesting a significant accumulation of liquid resources relative to current liabilities, which can imply conservative liquidity management, extended buffers against short-term obligations, or strategic asset liquidations.

Overall, the pattern reflects an initial period of liquidity tightening in 2021 and early 2022, followed by a substantial strengthening of liquidity in the subsequent years. The latest figures indicate that the company is well-positioned in terms of liquidity, with a quick ratio significantly above 1.0, suggesting robust near-term solvency and the capacity to meet short-term liabilities without relying on inventory sales.