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VANECK SEMICONDUCTOR ETF (SMH) Stock Overview

USA - NASDAQ:SMH - US92189F6768 - ETF

330.57 USD
+4.21 (+1.29%)
Last: 10/1/2025, 12:04:07 PM
Fundamental Rating

4

SMH gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 81 industry peers in the Automobile Components industry. SMH has only an average score on both its financial health and profitability. While showing a medium growth rate, SMH is valued expensive at the moment. 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.
In the past 5 years SMH has always been profitable.
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

With a Return On Assets value of 4.39%, SMH perfoms like the industry average, outperforming 43.21% of the companies in the same industry.
With a Return On Equity value of 8.81%, SMH perfoms like the industry average, outperforming 40.74% of the companies in the same industry.
SMH's Return On Invested Capital of 8.17% is on the low side compared to the rest of the industry. SMH is outperformed by 60.49% of its industry peers.
The Average Return On Invested Capital over the past 3 years 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 has a Profit Margin of 5.84%. This is comparable to the rest of the industry: SMH outperforms 45.68% of its industry peers.
SMH's Profit Margin has been stable in the last couple of years.
SMH has a Operating Margin (10.65%) which is in line with its industry peers.
SMH's Operating Margin has been stable in the last couple of years.
The Gross Margin of SMH (27.60%) is worse than 60.49% 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

SMH has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, SMH has less shares outstanding
Compared to 5 years ago, SMH has less shares outstanding
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 8.48. This indicates that SMH is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 8.48, SMH belongs to the best of the industry, outperforming 92.59% of the companies in the same industry.
The Debt to FCF ratio of SMH is 6.05, which is on the high side as it means it would take SMH, 6.05 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of SMH (6.05) is worse than 67.90% of its industry peers.
A Debt/Equity ratio of 0.32 indicates that SMH is not too dependend on debt financing.
SMH's Debt to Equity ratio of 0.32 is on the low side compared to the rest of the industry. SMH is outperformed by 65.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.05
Altman-Z 8.48
ROIC/WACC1.03
WACC7.91%
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 has a Current ratio of 1.80. This is in the lower half of the industry: SMH underperforms 76.54% of its industry peers.
A Quick Ratio of 1.12 indicates that SMH should not have too much problems paying its short term obligations.
SMH has a worse Quick ratio (1.12) than 77.78% of its industry peers.
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

The earnings per share for SMH have decreased strongly by -18.28% in the last year.
The Earnings Per Share has been growing slightly by 1.64% on average over the past years.
SMH shows a decrease in Revenue. In the last year, the revenue decreased by -3.62%.
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 15.63% on average per year.
Based on estimates for the next years, SMH will show a small growth in Revenue. The Revenue will grow by 2.56% on average per year.
EPS Next Y21.13%
EPS Next 2Y18.35%
EPS Next 3Y15.63%
EPS Next 5YN/A
Revenue Next Year-1.8%
Revenue Next 2Y0.24%
Revenue Next 3Y1.32%
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 128.63.
77.78% of the companies in the same industry are cheaper than SMH, based on the Price/Earnings ratio.
SMH's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.76.
Based on the Price/Forward Earnings ratio of 76.73, the valuation of SMH can be described as expensive.
SMH's Price/Forward Earnings ratio is rather expensive when compared to the industry. SMH is more expensive than 82.72% of the companies in the same industry.
SMH's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.18.
Industry RankSector Rank
PE 128.63
Fwd PE 76.73
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SMH indicates a rather expensive valuation: SMH more expensive than 80.25% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, SMH is valued a bit more expensive than 77.78% of the companies in the same industry.
Industry RankSector Rank
P/FCF 160.25
EV/EBITDA 41.33
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 SMH does not grow enough to justify the current Price/Earnings ratio.
SMH's earnings are expected to grow with 15.63% in the coming years. This may justify a more expensive valuation.
PEG (NY)6.09
PEG (5Y)78.29
EPS Next 2Y18.35%
EPS Next 3Y15.63%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.52%, SMH is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.02, SMH pays a better dividend. On top of this SMH pays more dividend than 98.77% 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 2.41.
Industry RankSector Rank
Dividend Yield 4.52%

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.
SMH has decreased its dividend 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.
The dividend of SMH is growing, but earnings are growing more, so the dividend growth is sustainable.
DP62.4%
EPS Next 2Y18.35%
EPS Next 3Y15.63%
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 (10/1/2025, 12:04:07 PM)

330.57

+4.21 (+1.29%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)07-24 2025-07-24/amc
Earnings (Next)02-22 2026-02-22/amc
Inst Owners46.28%
Inst Owner Change-1.86%
Ins Owners0%
Ins Owner Change0%
Market Cap233.30B
Analysts80.87
Price Target365.59 (10.59%)
Short Float %1.36%
Short Ratio1.16
Dividend
Industry RankSector Rank
Dividend Yield 4.52%
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)9.56%
PT rev (3m)35.32%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.32%
EPS NY rev (3m)-10.51%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.16%
Revenue NY rev (3m)-2.61%
Valuation
Industry RankSector Rank
PE 128.63
Fwd PE 76.73
P/S 7.43
P/FCF 160.25
P/OCF 58.74
P/B 11.21
P/tB 15.23
EV/EBITDA 41.33
EPS(TTM)2.57
EY0.78%
EPS(NY)4.31
Fwd EY1.3%
FCF(TTM)2.06
FCFY0.62%
OCF(TTM)5.63
OCFY1.7%
SpS44.49
BVpS29.48
TBVpS21.7
PEG (NY)6.09
PEG (5Y)78.29
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 8.48
F-Score5
WACC7.91%
ROIC/WACC1.03
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 Y21.13%
EPS Next 2Y18.35%
EPS Next 3Y15.63%
EPS Next 5YN/A
Revenue 1Y (TTM)-3.62%
Revenue growth 3Y4.55%
Revenue growth 5Y2.41%
Sales Q2Q%-3.36%
Revenue Next Year-1.8%
Revenue Next 2Y0.24%
Revenue Next 3Y1.32%
Revenue Next 5Y2.56%
EBIT growth 1Y-17.5%
EBIT growth 3Y1.98%
EBIT growth 5Y1.14%
EBIT Next Year59.12%
EBIT Next 3Y22.78%
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%