Super Micro Computer, Inc.
SMCIpublicserverAI servers
What this company owes, to whom, at what cost and when it comes due. Every figure is the one the company itself states. cohort: server · verified 2026-09-28 How these figures are built →
how it is counted
what the filer owes that is not on its balance sheet at this date: leases not yet commenced plus unrecorded purchase obligations, counted once. A filer that reports the same figure under both (Meta, Alphabet, Equinix, Arm, Applied Digital, Astera Labs) has stated one fact twice, and offBalanceNote says so
- Notes priced since 2024 · 0 →each tranche in the ledger as the company itself states it
how it is counted
principal in USD billions — native for USD, spot rate on the pricing date otherwise (fx recorded)
- —
- Loans and credit facilities · 8 →as signed; the figure counts new facilities, the count amendments too
how it is counted
the commitment as the company states it — a ceiling for revolvers and delayed-draw facilities, not an amount drawn; new facilities only: an amendment restates a commitment already counted.
- $4.3B
- Debt due in 12 months →its own schedule, as of 2026-06-30
how it is counted
the company's own maturity schedule for all its long-term debt, as its latest report states it: principal due in the next twelve months, years two to five and after; USD billions
- $2.0B
- Long-term debt on the balance sheet →on its balance sheet at 2026-06-30
how it is counted
long-term debt including its current portion, read line by line off the company's own balance sheet (ADR-0044), an asset manager's consolidated funds' debt apart where it is reported apart; its derivation says when the notes to the accounts gave a part, when the date came from the next report's prior-period column, or when finance leases sit inside a line
- $8.7B
- Cost of debt · 2026 Q2 →interest cover 18.65× · capex over operating cash flow 0.04×
how it is counted
4 × the quarter's interest cost ÷ average funded debt (borrowings + finance lease liabilities when the company states them apart; rateBasis says which) — interest cost is the interest expense plus the interest capitalised into what the company builds where it states that for the quarter; none when it states it only for a year in which it capitalised a tenth or more of its interest; interest expense under US GAAP includes finance-lease interest, so funded debt is the cleaner basis; a manager's consolidated VIEs' debt taken out of its debt line is added back where its interest expense pays for it
- 3.65%
When it comes due
Its own schedule, as of 2026-06-30
Notes and facilities since 2024, by maturity year
What has it committed to?
Obligations as the company states them — leases and purchase obligations as it reports them, long-term debt read off its balance sheet — each at the date it last stated it. The off-balance-sheet total is what it owes that its balance sheet does not carry.
Obligations as stated
| Off the balance sheet | $240M | 2026-06-30 | Leases signed, not yet commenced at 2025-06-30 |
| Leases signed, not yet commenced | $242M | 2025-06-30 | read from the company's own words leases signed but not yet commenced — read from the company's own text by a deterministic rule, the sentence quoted (status amount | immaterial | table_row | no_unit; `unitNote` when the sentence gave no unit and the unit the report states for its figures was applied) |
| Long-term debt on the balance sheet | $8.7B | 2026-06-30 | long-term debt including its current portion, read line by line off the company's own balance sheet (ADR-0044), an asset manager's consolidated funds' debt apart where it is reported apart; its derivation says when the notes to the accounts gave a part, when the date came from the next report's prior-period column, or when finance leases sit inside a line |
Obligations created, as announced
| 2026-06-12 | material definitive agreement | $1.3B | underwriting agreement | Super Micro Computer, Inc., J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., JPMorgan Chase Bank, N.A. |
| 2026-01-26 | material definitive agreement | $2.4B | credit agreement | Super Micro Computer, Inc., CTBC Bank Co., Ltd., Investment Bank, E.Sun Commercial Bank, Ltd. |
| 2026-01-02 | material definitive agreement | $2.0B | credit agreement | Super Micro Computer, Inc., JPMorgan Chase Bank, N.A. |
| 2025-07-21 | material definitive agreement | $1.8B | purchase agreement | Super Micro Computer, Inc., MUFG Bank, Ltd., Investment Bank |
| 2025-07-21 | direct financial obligation | $1.8B | purchase agreement | Super Micro Computer, Inc., MUFG Bank, Ltd., Investment Bank |
| 2025-06-27 | material definitive agreement | $2.3B | senior notes | Super Micro Computer, Inc., U.S. Bank Trust Company, Company. The Company, Barclays Bank, Citibank, N.A., Investment Bank |
| 2025-06-27 | direct financial obligation | $2.3B | senior notes | Super Micro Computer, Inc., U.S. Bank Trust Company, Company. The Company, Barclays Bank, Citibank, N.A., Investment Bank |
| 2025-02-21 | material definitive agreement | $1.6B | senior notes | Super Micro Computer, Inc., U.S. Bank Trust Company, Citibank, N.A., Wells Fargo Bank, HSBC Bank, Royal Bank |
| 2025-02-21 | direct financial obligation | $1.6B | senior notes | Super Micro Computer, Inc., U.S. Bank Trust Company, Citibank, N.A., Wells Fargo Bank, HSBC Bank, Royal Bank |
| 2024-09-30 | material definitive agreement | $250M | term loan | Super Micro Computer, Inc., America, N.A. |
| 2024-07-22 | material definitive agreement | $500M | term loan | Super Micro Computer, Inc., America, N.A. |
| 2024-06-21 | material definitive agreement | $600M | master agreement | Super Micro Computer, Inc., Santa Fe, LLC, Lambda, Inc. |
| 2024-06-21 | direct financial obligation | $600M | master agreement | Super Micro Computer, Inc., Santa Fe, LLC, Lambda, Inc. |
| 2024-03-22 | material definitive agreement | $1.7B | underwriting agreement | Super Micro Computer, Inc., Goldman Sachs & Co. LLC, Common Stock. The Company |
| 2024-02-28 | material definitive agreement | $1.7B | senior notes | Super Micro Computer, Inc., U.S. Bank Trust Company, Citibank, N.A., Wells Fargo Bank, HSBC Bank, Royal Bank |
| 2024-02-28 | direct financial obligation | $1.7B | senior notes | Super Micro Computer, Inc., U.S. Bank Trust Company, Citibank, N.A., Wells Fargo Bank, HSBC Bank, Royal Bank |
| 2024-02-22 | material definitive agreement | $1.5B | senior notes | Super Micro Computer, Inc., America, N.A. |
| 2024-02-20 | material definitive agreement | $185M | term loan | Super Micro Computer Inc., Super Micro Computer, Inc., CTBC Bank Co., Ltd., CTBC Bank |
| 2024-02-20 | direct financial obligation | $185M | term loan | Super Micro Computer Inc., Super Micro Computer, Inc., CTBC Bank Co., Ltd., CTBC Bank |
| 2024-02-01 | material definitive agreement | $80M | purchase agreement | Super Micro Computer, Inc., Caracol Property Owner LLC |
What has it borrowed, and at what cost?
Each note tranche in the ledger priced since 2024, as the company itself states it, and each credit facility as signed. Nothing is netted, nothing is estimated.
No note tranche since 2024. A convertible is not counted here; it is equity in a bond's clothing and sits under question 3.
Loans and credit facilities as signed
| 2026-01-26 | revolving credit facility “The Credit Agreement provides for two revolving credit facilities in an initial aggregate principal amount of $350,000,000 (“Facility A1”) and $360,000,000 (“Facility A2” and together with Facility A1, the “Facilities”).” | $350M | — | 0.15% fixed | — | CTBC Bank Co., Ltd. |
| 2026-01-02 | revolving credit facility “The Credit Agreement provides for a revolving credit facility in an initial aggregate principal amount of up to $2,000,000,000 (the “Revolving Credit Facility”).” | $2.00B | — | 2.00% fixed | 2030-12-29 | JPMorgan Chase Bank, N.A. |
| 2026-01-02 | revolving credit facility “The Credit Agreement also provides an option to increase the aggregate principal amount of the revolving commitments by up to $1,000,000,000, subject to the satisfaction of certain conditions.” | $1.00B | — | 2.00% fixed | 2030-12-29 | JPMorgan Chase Bank, N.A. |
| 2024-07-22 | term loan “The Term Loan Agreement provides for a $500 million term loan facility (the “Term Loan Facility”).” | $500M | — | SOFR + 0.10% | 2025-01-17 | N.A. |
| 2024-02-20 | credit facility “On February 16, 2024 (the “Effective Date”), the Subsidiary entered into a new general agreement for omnibus credit lines with CTBC Bank, which increased the aggregate total borrowings from time to time under the various individual credit arrangements with CTBC Bank from $105.0 million to $185.0 million.” | $185M | — | — | — | — |
| 2024-02-20 | credit facility “(“CTBC Bank”) and (ii) various individual credit arrangements under such general agreement which provided for aggregate total borrowings of up to $105.0 million.” | $105M | — | — | — | — |
| 2024-02-20 | credit facility “Such individual credit arrangements under such general agreement include the previous issued long and medium term loan facility of NTD 1,550.0 million in 2021 and 2020 (the “Long and Medium Loan Facility”), and each of (i) a short-term loan and guarantee line providing credit of up to NTD1,250.0 million and NTD100.0 million, respectively (the “NTD Short Term Loan/Guarantee Line”), (ii) a short-ter” | $80M | — | — | — | — |
| 2024-02-20 | term loan “Such individual credit arrangements under such general agreement include the previous issued long and medium term loan facility of NTD 1,550.0 million in 2021 and 2020 (the “Long and Medium Loan Facility”), and each of (i) a short-term loan and guarantee line providing credit of up to NTD1,250.0 million and NTD100.0 million, respectively (the “NTD Short Term Loan/Guarantee Line”), (ii) a short-ter” | $40M | — | — | — | — |
Cost of debt, from its own statements
Latest quarter, 2026 Q2: cost of debt 3.65%, interest cover 18.65×, capex over operating cash flow 0.04×.
Cost of debt: 4 × the quarter's interest cost ÷ average funded debt (borrowings + finance lease liabilities when the company states them apart; rateBasis says which) — interest cost is the interest expense plus the interest capitalised into what the company builds where it states that for the quarter; none when it states it only for a year in which it capitalised a tenth or more of its interest; interest expense under US GAAP includes finance-lease interest, so funded debt is the cleaner basis; a manager's consolidated VIEs' debt taken out of its debt line is added back where its interest expense pays for it Interest cover: operating income ÷ interest expense. Capex over operating cash flow: cash purchases of PP&E ÷ operating cash flow; null when operating cash flow is not positive.
What equity has it sold?
Raises as announced, and shares actually sold under an at-the-market programme when the company states the period.
Equity and hybrid raises
| 2026-06-12 | atm “In addition, concurrently with this offering and pursuant to a separate prospectus
supplement, we have entered into an equity distribution agreement with certain agents under which we may sell up to $1,250,000,000 of shares of our common stock in
“at-the-market” transactions from time to time (the “ATM Program” and, together with the Depositary Shares Offering, the “Concurrent
Financing Transactio” | $1.25B | — | — |
| 2026-06-12 | common “Concurrently with this offering and pursuant to a separate prospectus
supplement, we are making a public offering of 45,454,545 shares of our common stock, par value $0.001 per share (“common stock”) (the “Common Stock Offering”).” | 45.5M shares | — | — |
| 2026-06-09 | atm “• At-the-market offering: up to $2.0 billion at-the-market, or ATM, offering program for common stock, expected to begin no earlier than the third quarter of 2026 (the “ATM program”).” | $2.00B | — | — |
| 2025-02-21 | convertible “WITNESSETH: WHEREAS, on February 27, 2024, the Company issued $1.725 billion aggregate principal amount of 0.00% convertible senior notes due 2029 (the “2029 Convertible Notes”) pursuant to that certain Indenture dated as of February 27, 2024 (the “Original Indenture”), between the Company and U.S.” | $1.73B | 0% | 2029 |
| 2025-02-21 | convertible “(the “Company”) closed its previously announced offering of $700.0 million aggregate principal amount of 2.25% Convertible Senior Notes due 2028 (the “New Convertible Notes”) pursuant to privately negotiated agreements (the “New Convertible Notes Offering”).” | $700M | 2.25% | 2028 |
When does it come due, and who holds it?
The company's own five-year schedule, what we have placed by year from the notes and facilities since 2024, and the price the funds that hold its paper report.
Its own maturity schedule
| 2026-06-30 | $2.04B | $6M | $5M | $5M | $2.00B | — | $4.1B |
What we have placed by maturity year, since 2024
| 2025 | — | $500M | 0 | 1 |
| 2030 | — | $3.00B | 0 | 2 |
Not on this ladder: facilities with no maturity date
| 2026-01-26 | revolving credit facility | $350M | — |
| 2024-02-20 | credit facility | $185M | — |
| 2024-02-20 | credit facility | $105M | — |
| 2024-02-20 | credit facility | $80M | — |
| 2024-02-20 | term loan | $40M | — |
No fund-reported price for its paper. Fund holdings are matched only on identifiers the ledger already holds, so a tranche with no CUSIP in the ledger cannot be matched.
How does it compare?
The same twelve measures every company on the AI trade page carries, beside the median across them. Below each measure, the arithmetic behind it.
Twelve measures, beside the median
| Self-funding operating cash flow $-6.8B ÷ capex $0.2B over 4 quarters to 2026Q2 | -42.3× | 1.31× across 40 companies | 2026Q2 |
| Funding mix of $0.2B of capex over 4 quarters to 2026Q2: operations -4229.8%, new debt 2080.7% ($0.0B notes + $3.4B facilities), equity 0.0% | -4229.8% | — | 2026Q2 |
| Off balance sheet $0.2B off the balance sheet ÷ (that + $8.7B long-term debt); each figure as the filer last stated it (leasesNotYetCommenced 2025-06-30, longTermDebt 2026-06-30) | 2.7% | 41.9% across 23 companies | 2026-06-30 |
| Committed facilities $4.3B committed across 8 new facilities, 0.49× the $8.7B of long-term debt on the balance sheet | $4.3B | — | 2026-06-30 |
| Marginal cost of debt principal-weighted coupon of $3.4B priced in the last twelve months; the book carries 3.65%, a gap of -1.84 points | 1.81% | — | — |
| New-issue spread coupon − 10-year Treasury on the pricing date, USD tranches only | — no USD fixed-coupon tranche priced in the window | — | — |
| Floating-rate share $0.5B floating ($0.0B notes + $0.5B facilities off SOFR) ÷ $4.3B raised | 11.7% | 0% across 40 companies | — |
| Rate shock (+100 bp) $0.5B of floating debt × 100 bp = $0.01B more interest a year; interest cover would be 18.31× on the latest quarter annualised | $5M | — | — |
| Secured share of new facilities $0.0B secured ÷ $4.3B committed; $4.3B does not say | 0% | 0% across 24 companies | — |
| Refinancing burden $2.0B due within two years; no positive operating cash flow to compare | — operating cash flow is nil or negative | 0.15× across 23 companies | 2026-06-30 |
| Liquidity runway ($7.5B cash and equivalents as tagged — short-term investments are not included — + $4.3B committed) ÷ $0.1B a quarter of capex and interest, as of 2026Q2 | 132.7 | — | 2026Q2 |
Does our ledger explain its balance sheet?
Across 7 of 14 quarter(s) its debt rose $9.0B and the notes we hold for those quarters total $0M — 0% explained.
the change in the filer's own borrowings over a fiscal quarter, against the principal of the tranches our ledger says were priced inside that quarter; this is not a reconciliation to the penny and is not meant to be; we do not track repayments, draws under facilities, commercial paper or currency translation.
What it said about capital expenditure
“We anticipate our total capital expenditures for the fiscal year 2027 will be in the range of $380.0 million to $400.0 million, primarily relating to costs associated with our global manufacturing capabilities, including” 2026-08-31
The period: FY = the company's fiscal year as written; CY = calendar; bare year = as written.