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VANECK SEMICONDUCTOR ETF (SMH) Stock Overview

NASDAQ:SMH - US92189F6768 - ETF

297.81 USD
+1.18 (+0.4%)
Last: 9/9/2025, 7:24:01 PM
297.59 USD
-0.22 (-0.07%)
After Hours: 9/9/2025, 7:24:01 PM
Fundamental Rating

4

Overall SMH gets a fundamental rating of 4 out of 10. We evaluated SMH against 80 industry peers in the Automobile Components industry. SMH has an average financial health and profitability rating. SMH is quite expensive at the moment. It does show a decent growth rate. Finally SMH also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year SMH was profitable.
In the past year SMH had a positive cash flow from operations.
SMH had positive earnings in each of the past 5 years.
SMH had a positive operating cash flow in each of the past 5 years.
SMH Yearly Net Income VS EBIT VS OCF VS FCFSMH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B 5B

1.2 Ratios

SMH has a Return On Assets (4.39%) which is comparable to the rest of the industry.
SMH has a worse Return On Equity (8.81%) than 60.00% of its industry peers.
SMH has a worse Return On Invested Capital (8.17%) than 61.25% of 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 8.51%.
Industry RankSector Rank
ROA 4.39%
ROE 8.81%
ROIC 8.17%
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
SMH Yearly ROA, ROE, ROICSMH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

SMH's Profit Margin of 5.84% is in line compared to the rest of the industry. SMH outperforms 45.00% of its industry peers.
SMH's Profit Margin has been stable in the last couple of years.
With a Operating Margin value of 10.65%, SMH perfoms like the industry average, outperforming 46.25% of the companies in the same industry.
SMH's Operating Margin has been stable in the last couple of years.
The Gross Margin of SMH (27.60%) is worse than 61.25% of its industry peers.
In the last couple of years the Gross Margin of SMH has remained more or less at the same level.
Industry RankSector Rank
OM 10.65%
PM (TTM) 5.84%
GM 27.6%
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%
SMH Yearly Profit, Operating, Gross MarginsSMH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SMH is still creating some value.
The number of shares outstanding for SMH has been reduced compared to 1 year ago.
The number of shares outstanding for SMH has been reduced compared to 5 years ago.
SMH has a worse debt/assets ratio than last year.
SMH Yearly Shares OutstandingSMH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
SMH Yearly Total Debt VS Total AssetsSMH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

SMH has an Altman-Z score of 7.88. This indicates that SMH is financially healthy and has little risk of bankruptcy at the moment.
SMH's Altman-Z score of 7.88 is amongst the best of the industry. SMH outperforms 91.25% of its industry peers.
SMH has a debt to FCF ratio of 6.05. This is a slightly negative value and a sign of low solvency as SMH would need 6.05 years to pay back of all of its debts.
SMH has a Debt to FCF ratio of 6.05. This is in the lower half of the industry: SMH underperforms 68.75% of its industry peers.
SMH has a Debt/Equity ratio of 0.32. This is a healthy value indicating a solid balance between debt and equity.
SMH has a worse Debt to Equity ratio (0.32) than 66.25% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.05
Altman-Z 7.88
ROIC/WACC1.06
WACC7.72%
SMH Yearly LT Debt VS Equity VS FCFSMH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

SMH has a Current Ratio of 1.80. 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 Current ratio of 1.80 is on the low side compared to the rest of the industry. SMH is outperformed by 77.50% of its industry peers.
A Quick Ratio of 1.12 indicates that SMH should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.12, SMH is doing worse than 78.75% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.8
Quick Ratio 1.12
SMH Yearly Current Assets VS Current LiabilitesSMH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

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4

3. Growth

3.1 Past

SMH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.28%.
The Earnings Per Share has been growing slightly by 1.64% on average over the past years.
Looking at the last year, SMH shows a decrease in Revenue. The Revenue has decreased by -3.62% in the last year.
Measured over the past years, SMH shows a small growth in Revenue. The Revenue has been growing by 2.41% on average per year.
EPS 1Y (TTM)-18.28%
EPS 3Y0.78%
EPS 5Y1.64%
EPS Q2Q%-26.88%
Revenue 1Y (TTM)-3.62%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.36%

3.2 Future

Based on estimates for the next years, SMH will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.31% on average per year.
SMH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.56% yearly.
EPS Next Y22.75%
EPS Next 2Y19.47%
EPS Next 3Y16.31%
EPS Next 5YN/A
Revenue Next Year-1.64%
Revenue Next 2Y0.47%
Revenue Next 3Y1.52%
Revenue Next 5Y2.56%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
SMH Yearly Revenue VS EstimatesSMH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B
SMH Yearly EPS VS EstimatesSMH Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4

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0

4. Valuation

4.1 Price/Earnings Ratio

SMH is valuated quite expensively with a Price/Earnings ratio of 115.88.
Compared to the rest of the industry, the Price/Earnings ratio of SMH indicates a slightly more expensive valuation: SMH is more expensive than 78.75% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.07. SMH is valued rather expensively when compared to this.
SMH is valuated quite expensively with a Price/Forward Earnings ratio of 67.91.
Based on the Price/Forward Earnings ratio, SMH is valued more expensive than 83.75% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SMH to the average of the S&P500 Index (22.59), we can say SMH is valued expensively.
Industry RankSector Rank
PE 115.88
Fwd PE 67.91
SMH Price Earnings VS Forward Price EarningsSMH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

SMH's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. SMH is more expensive than 81.25% of the companies in the same industry.
SMH's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. SMH is more expensive than 78.75% of the companies in the same industry.
Industry RankSector Rank
P/FCF 144.53
EV/EBITDA 37.67
SMH Per share dataSMH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
SMH's earnings are expected to grow with 16.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)5.09
PEG (5Y)70.54
EPS Next 2Y19.47%
EPS Next 3Y16.31%

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7

5. Dividend

5.1 Amount

SMH has a Yearly Dividend Yield of 4.49%, which is a nice return.
Compared to an average industry Dividend Yield of 3.98, SMH pays a better dividend. On top of this SMH pays more dividend than 100.00% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.46, SMH pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.49%

5.2 History

On average, the dividend of SMH grows each year by 7.84%, which is quite nice.
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
SMH Yearly Dividends per shareSMH Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8 1

5.3 Sustainability

62.40% of the earnings are spent on dividend by SMH. This is not a sustainable payout ratio.
SMH's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP62.4%
EPS Next 2Y19.47%
EPS Next 3Y16.31%
SMH Yearly Income VS Free CF VS DividendSMH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
SMH Dividend Payout.SMH Dividend Payout, showing the Payout Ratio.SMH Dividend Payout.PayoutRetained Earnings

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VANECK SEMICONDUCTOR ETF

NASDAQ:SMH (9/9/2025, 7:24:01 PM)

After market: 297.59 -0.22 (-0.07%)

297.81

+1.18 (+0.4%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)07-24 2025-07-24/amc
Earnings (Next)02-22 2026-02-22/amc
Inst Owners39.91%
Inst Owner Change-1.89%
Ins Owners0%
Ins Owner Change0%
Market Cap210.18B
Analysts80.87
Price Target333.68 (12.04%)
Short Float %1.31%
Short Ratio1.14
Dividend
Industry RankSector Rank
Dividend Yield 4.49%
Yearly Dividend1.58
Dividend Growth(5Y)7.84%
DP62.4%
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)-1.85%
PT rev (3m)23.52%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-9.31%
EPS NY rev (3m)-9.31%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.24%
Revenue NY rev (3m)-2.45%
Valuation
Industry RankSector Rank
PE 115.88
Fwd PE 67.91
P/S 6.7
P/FCF 144.53
P/OCF 52.97
P/B 10.11
P/tB 13.74
EV/EBITDA 37.67
EPS(TTM)2.57
EY0.86%
EPS(NY)4.39
Fwd EY1.47%
FCF(TTM)2.06
FCFY0.69%
OCF(TTM)5.62
OCFY1.89%
SpS44.44
BVpS29.45
TBVpS21.68
PEG (NY)5.09
PEG (5Y)70.54
Profitability
Industry RankSector Rank
ROA 4.39%
ROE 8.81%
ROCE 10.41%
ROIC 8.17%
ROICexc 9.37%
ROICexgc 11.66%
OM 10.65%
PM (TTM) 5.84%
GM 27.6%
FCFM 4.64%
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 Turnover0.75
Health
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.05
Debt/EBITDA 1.17
Cap/Depr 107.96%
Cap/Sales 8.01%
Interest Coverage 9.96
Cash Conversion 70%
Profit Quality 79.44%
Current Ratio 1.8
Quick Ratio 1.12
Altman-Z 7.88
F-Score5
WACC7.72%
ROIC/WACC1.06
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)-18.28%
EPS 3Y0.78%
EPS 5Y1.64%
EPS Q2Q%-26.88%
EPS Next Y22.75%
EPS Next 2Y19.47%
EPS Next 3Y16.31%
EPS Next 5YN/A
Revenue 1Y (TTM)-3.62%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.36%
Revenue Next Year-1.64%
Revenue Next 2Y0.47%
Revenue Next 3Y1.52%
Revenue Next 5Y2.56%
EBIT growth 1Y-17.5%
EBIT growth 3Y1.98%
EBIT growth 5Y1.14%
EBIT Next Year66.93%
EBIT Next 3Y23.28%
EBIT Next 5Y17.51%
FCF growth 1Y-20.46%
FCF growth 3Y21.5%
FCF growth 5Y7.22%
OCF growth 1Y-10.1%
OCF growth 3Y14.27%
OCF growth 5Y5.48%