Stock 981 SMIC (SEMICONDUCTOR MANUFACTURING INTERNATIONAL COMPANY)
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Financials SMIC (Semiconductor Manufacturing International Company)

Equities

981

KYG8020E1199

Semiconductors

Market Closed - Hong Kong S.E.
Other stock markets
 04:09:05 2024-06-07 am EDT 		5-day change 1st Jan Change
18.38 HKD +1.77% Intraday chart for SMIC (Semiconductor Manufacturing International Company) +11.12% -7.45%
Jun. 05 Exclusive-Chinese AI chip firms downgrading designs to secure TSMC production, sources say RE
May. 27 China Unveils $48 Billion Fund to Bolster Chip Industry DJ

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,751 33,582 30,452 24,407 29,955 26,933 - -
Enterprise Value (EV) 1 9,458 26,619 24,569 22,275 32,856 33,348 34,714 34,823
P/E ratio 33.2 x 28.5 x 10.9 x 9.31 x 23.1 x 45.2 x 27.1 x 19.6 x
Yield - - - - - - - -
Capitalization / Revenue 2.49 x 8.03 x 5.43 x 3.39 x 4.78 x 3.7 x 3.2 x 2.76 x
EV / Revenue 3.04 x 6.37 x 4.38 x 3.1 x 5.25 x 4.58 x 4.12 x 3.57 x
EV / EBITDA 8.92 x 13.5 x 6.75 x 5.2 x 9.34 x 10.1 x 8.32 x 7.33 x
EV / FCF -9.35 x -7.38 x -26.1 x -29.9 x -7.71 x -8.71 x -22.2 x -83.3 x
FCF Yield -10.7% -13.6% -3.83% -3.35% -13% -11.5% -4.5% -1.2%
Price to Book 1.24 x 1.48 x 1.1 x 0.88 x 0.66 x 0.87 x 0.85 x 0.78 x
Nbr of stocks (in thousands) 5,056,869 7,703,506 7,903,857 7,912,665 7,946,556 7,956,083 - -
Reference price 2 1.533 2.851 2.394 2.141 2.543 2.353 2.353 2.353
Announcement Date 2/13/20 2/4/21 2/10/22 2/9/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,116 4,180 5,613 7,192 6,261 7,283 8,421 9,760
EBITDA 1 1,061 1,972 3,638 4,281 3,518 3,315 4,171 4,750
EBIT 1 48.91 684.5 1,835 2,144 955.6 20.53 409.8 741.5
Operating Margin 1.57% 16.37% 32.68% 29.81% 15.26% 0.28% 4.87% 7.6%
Earnings before Tax (EBT) 1 182.3 683.4 1,827 2,144 946.5 528.9 860.6 1,188
Net income 1 234.7 659.2 1,691 1,762 667.3 435.5 681.6 969.2
Net margin 7.53% 15.77% 30.12% 24.5% 10.66% 5.98% 8.09% 9.93%
EPS 2 0.0461 0.1000 0.2200 0.2300 0.1100 0.0521 0.0867 0.1200
Free Cash Flow 1 -1,011 -3,609 -941.1 -745.5 -4,259 -3,827 -1,561 -417.9
FCF margin -32.45% -86.33% -16.77% -10.37% -68.02% -52.55% -18.54% -4.28%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - - - - - - - -
Announcement Date 2/13/20 2/4/21 2/10/22 2/9/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 1,616 1,764 1,854 1,818 1,707 1,473 1,524 1,618 1,681 1,744 1,855 1,853 1,855 1,881 1,981
EBITDA 1 928.4 1,070 1,097 1,054 886.7 714.8 736.2 766.7 807.3 747.9 772 823.7 913.9 907 1,092
EBIT 1 644.6 543 614.9 539.1 433.1 273.6 282.7 165.9 240.8 73.14 -44.26 -10.66 8.165 7.189 13.2
Operating Margin 39.88% 30.79% 33.17% 29.65% 25.37% 18.58% 18.55% 10.25% 14.32% 4.19% -2.39% -0.58% 0.44% 0.38% 0.67%
Earnings before Tax (EBT) 1 636.2 543.1 613.5 539.7 433.4 274 283 165.8 231.2 73.06 92.79 119.3 131.5 125.5 160.3
Net income 1 538 423 496 433.1 398.5 229.5 192.9 93.06 158.9 70.49 69.34 86.41 98.78 75.25 107.7
Net margin 33.28% 23.99% 26.76% 23.82% 23.34% 15.59% 12.66% 5.75% 9.45% 4.04% 3.74% 4.66% 5.32% 4% 5.43%
EPS 2 0.0700 0.0600 0.0600 0.0600 0.0500 0.0300 0.0500 0.0100 0.0200 0.0100 0.008710 0.0108 0.0113 0.0105 0.0164
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 2/10/22 5/12/22 8/11/22 11/10/22 2/9/23 5/11/23 8/10/23 11/9/23 2/6/24 5/9/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,707 - - - 2,902 6,414 7,781 7,889
Net Cash position 1 - 6,963 5,883 2,132 - - - -
Leverage (Debt/EBITDA) 1.609 x - - - 0.8249 x 1.935 x 1.865 x 1.661 x
Free Cash Flow 1 -1,011 -3,609 -941 -745 -4,259 -3,827 -1,561 -418
ROE (net income / shareholders' equity) 3.83% 6.29% 10.3% 10% 3.5% 2.15% 3.21% 4.48%
ROA (Net income/ Total Assets) 1.52% 2.71% 4.94% 4.55% 1.91% 0.9% 1.37% 1.94%
Assets 1 15,431 24,299 34,229 38,736 34,952 48,558 49,752 49,984
Book Value Per Share 2 1.230 1.920 2.170 2.420 3.870 2.700 2.780 3.020
Cash Flow per Share 2 0.1800 0.2300 0.3900 0.6800 0.4200 0.4400 0.5300 0.6000
Capex 1 2,030 5,614 4,225 6,060 7,448 7,507 5,629 5,186
Capex / Sales 65.15% 134.29% 75.27% 84.26% 118.96% 103.08% 66.85% 53.14%
Announcement Date 2/13/20 2/4/21 2/10/22 2/9/23 2/6/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SMIC (Semiconductor Manufacturing International Company)

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
24
Last Close Price
2.353 USD
Average target price
2.386 USD
Spread / Average Target
+1.41%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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