VANECK SEMICONDUCTOR ETF (SMH) Stock Price, Quote, News and Overview
NASDAQ:SMH - Nasdaq - US92189F6768 - ETF - Currency: USD
We assign a fundamental rating of 4 out of 10 to SMH. SMH was compared to 81 industry peers in the Automobile Components industry. SMH has an average financial health and profitability rating. SMH is valied quite expensively at the moment, while it does show a decent growth rate. SMH also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
SMH had positive earnings in the past year.
In the past year SMH had a positive cash flow from operations.
SMH had positive earnings in each of the past 5 years.
In the past 5 years SMH always reported a positive cash flow from operatings.
1.2 Ratios
SMH's Return On Assets of 5.04% is in line compared to the rest of the industry. SMH outperforms 41.98% of its industry peers.
SMH's Return On Equity of 10.12% is in line compared to the rest of the industry. SMH outperforms 40.74% of its industry peers.
SMH has a Return On Invested Capital (8.73%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SMH is in line with the industry average of 9.05%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.04% | ||
| ROE | 10.12% | ||
| ROIC | 8.73% |
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
1.3 Margins
SMH has a Profit Margin (6.93%) which is in line with its industry peers.
SMH's Profit Margin has been stable in the last couple of years.
SMH has a Operating Margin of 11.72%. This is comparable to the rest of the industry: SMH outperforms 46.91% of its industry peers.
In the last couple of years the Operating Margin of SMH has remained more or less at the same level.
SMH has a worse Gross Margin (28.49%) than 60.49% of its industry peers.
SMH's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 11.72% | ||
| PM (TTM) | 6.93% | ||
| GM | 28.49% |
OM growth 3Y-2.46%
OM growth 5Y-1.24%
PM growth 3Y-3.58%
PM growth 5Y-0.79%
GM growth 3Y-0.99%
GM growth 5Y-0.59%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SMH is creating some value.
SMH has less shares outstanding than it did 1 year ago.
The number of shares outstanding for SMH has been reduced compared to 5 years ago.
The debt/assets ratio for SMH is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 7.27 indicates that SMH is not in any danger for bankruptcy at the moment.
With an excellent Altman-Z score value of 7.27, SMH belongs to the best of the industry, outperforming 90.12% of the companies in the same industry.
SMH has a debt to FCF ratio of 3.42. This is a good value and a sign of high solvency as SMH would need 3.42 years to pay back of all of its debts.
The Debt to FCF ratio of SMH (3.42) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.31 indicates that SMH is not too dependend on debt financing.
SMH has a Debt to Equity ratio of 0.31. This is in the lower half of the industry: SMH underperforms 62.96% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.31 | ||
| Debt/FCF | 3.42 | ||
| Altman-Z | 7.27 |
ROIC/WACC1.13
WACC7.74%
2.3 Liquidity
SMH has a Current Ratio of 1.76. This is a normal value and indicates that SMH is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.76, SMH is doing worse than 77.78% of the companies in the same industry.
SMH has a Quick Ratio of 1.11. This is a normal value and indicates that SMH is financially healthy and should not expect problems in meeting its short term obligations.
SMH's Quick ratio of 1.11 is on the low side compared to the rest of the industry. SMH is outperformed by 77.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.76 | ||
| Quick Ratio | 1.11 |
3. Growth
3.1 Past
The earnings per share for SMH have decreased by -5.42% in the last year.
The Earnings Per Share has been growing slightly by 1.64% on average over the past years.
The Revenue has decreased by -4.06% in the past year.
The Revenue has been growing slightly by 2.41% on average over the past years.
EPS 1Y (TTM)-5.42%
EPS 3Y0.78%
EPS 5Y1.64%
EPS Q2Q%-5.56%
Revenue 1Y (TTM)-4.06%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.87%
3.2 Future
The Earnings Per Share is expected to grow by 17.51% on average over the next years. This is quite good.
SMH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.24% yearly.
EPS Next Y35.36%
EPS Next 2Y23.07%
EPS Next 3Y17.51%
EPS Next 5YN/A
Revenue Next Year0.83%
Revenue Next 2Y2%
Revenue Next 3Y2.43%
Revenue Next 5Y3.24%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 91.79, which means the current valuation is very expensive for SMH.
79.01% of the companies in the same industry are cheaper than SMH, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of SMH to the average of the S&P500 Index (27.45), we can say SMH is valued expensively.
With a Price/Forward Earnings ratio of 67.88, SMH can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, SMH is valued expensively inside the industry as 82.72% of the companies are valued cheaper.
When comparing the Price/Forward Earnings ratio of SMH to the average of the S&P500 Index (21.90), we can say SMH is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 91.79 | ||
| Fwd PE | 67.88 |
4.2 Price Multiples
81.48% of the companies in the same industry are cheaper than SMH, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SMH indicates a slightly more expensive valuation: SMH is more expensive than 79.01% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 78.87 | ||
| EV/EBITDA | 33.31 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates SMH does not grow enough to justify the current Price/Earnings ratio.
SMH's earnings are expected to grow with 17.51% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.6
PEG (5Y)55.87
EPS Next 2Y23.07%
EPS Next 3Y17.51%
5. Dividend
5.1 Amount
SMH has a Yearly Dividend Yield of 4.35%, which is a nice return.
Compared to an average industry Dividend Yield of 4.32, SMH pays a better dividend. On top of this SMH pays more dividend than 96.30% of the companies listed in the same industry.
SMH's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.35% |
5.2 History
The dividend of SMH is nicely growing with an annual growth rate of 7.84%!
SMH has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of SMH decreased recently.
Dividend Growth(5Y)7.84%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
SMH pays out 51.01% of its income as dividend. This is a bit on the high side, but may be sustainable.
SMH's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP51.01%
EPS Next 2Y23.07%
EPS Next 3Y17.51%
283.62
+2.37 (+0.84%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)
Earnings (Next)
Inst Owners39.91%
Inst Owner Change1.67%
Ins Owners0%
Ins Owner Change0%
Market Cap200.16B
Analysts80
Price Target270.15 (-4.75%)
Short Float %1.38%
Short Ratio1.2
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.35% |
Yearly Dividend1.59
Dividend Growth(5Y)7.84%
DP51.01%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)9.14%
PT rev (3m)4.55%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.7%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.5%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 91.79 | ||
| Fwd PE | 67.88 | ||
| P/S | 6.25 | ||
| P/FCF | 78.87 | ||
| P/OCF | 39.18 | ||
| P/B | 9.12 | ||
| P/tB | 12.42 | ||
| EV/EBITDA | 33.31 |
EPS(TTM)3.09
EY1.09%
EPS(NY)4.18
Fwd EY1.47%
FCF(TTM)3.6
FCFY1.27%
OCF(TTM)7.24
OCFY2.55%
SpS45.4
BVpS31.09
TBVpS22.83
PEG (NY)2.6
PEG (5Y)55.87
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.04% | ||
| ROE | 10.12% | ||
| ROCE | 11.13% | ||
| ROIC | 8.73% | ||
| ROICexc | 10.35% | ||
| ROICexgc | 13.02% | ||
| OM | 11.72% | ||
| PM (TTM) | 6.93% | ||
| GM | 28.49% | ||
| FCFM | 7.92% |
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
ROICexc(3y)10.37%
ROICexc(5y)9.81%
ROICexgc(3y)12.78%
ROICexgc(5y)12.13%
ROCE(3y)11.87%
ROCE(5y)10.97%
ROICexcg growth 3Y-1.65%
ROICexcg growth 5Y0.27%
ROICexc growth 3Y-2.16%
ROICexc growth 5Y0.21%
OM growth 3Y-2.46%
OM growth 5Y-1.24%
PM growth 3Y-3.58%
PM growth 5Y-0.79%
GM growth 3Y-0.99%
GM growth 5Y-0.59%
F-Score5
Asset Turnover0.73
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.31 | ||
| Debt/FCF | 3.42 | ||
| Debt/EBITDA | 1.12 | ||
| Cap/Depr | 110.04% | ||
| Cap/Sales | 8.02% | ||
| Interest Coverage | 12.7 | ||
| Cash Conversion | 83.87% | ||
| Profit Quality | 114.33% | ||
| Current Ratio | 1.76 | ||
| Quick Ratio | 1.11 | ||
| Altman-Z | 7.27 |
F-Score5
WACC7.74%
ROIC/WACC1.13
Cap/Depr(3y)113.8%
Cap/Depr(5y)101.88%
Cap/Sales(3y)7.8%
Cap/Sales(5y)7.31%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.42%
EPS 3Y0.78%
EPS 5Y1.64%
EPS Q2Q%-5.56%
EPS Next Y35.36%
EPS Next 2Y23.07%
EPS Next 3Y17.51%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.06%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.87%
Revenue Next Year0.83%
Revenue Next 2Y2%
Revenue Next 3Y2.43%
Revenue Next 5Y3.24%
EBIT growth 1Y-7.52%
EBIT growth 3Y1.98%
EBIT growth 5Y1.14%
EBIT Next Year66.93%
EBIT Next 3Y23.28%
EBIT Next 5Y17.83%
FCF growth 1Y-29.4%
FCF growth 3Y21.5%
FCF growth 5Y7.22%
OCF growth 1Y-17.99%
OCF growth 3Y14.27%
OCF growth 5Y5.48%