| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 82 | 14.4x | 17.8x | Top tier | |
Growth | 53 | 59.3% | 7.1% | Around median | |
Quality | 85 | 16.0% | 4.5% | Top tier | |
Safety | 80 | 0.6x | 2.6x | Top tier | |
Capital Return | 27 | — | 2.12% | Bottom tier | |
Momentum | 52 | 50.2% | 2.9% | Around median | |
Sentiment | 87 | 10 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Sociedad Química y Minera de Chile S.A. operates under the ticker SQM in the production and sale of lithium, iodine, and specialty plant nutrition products. Lithium supplies come from the Novandino Litio operations in Chile and Covalent Lithium in Australia, while the company has four iodine-producing operations. Revenue is therefore linked to sales volumes and prices for lithium, iodine, and plant nutrition products, with partial diversification between strategic minerals and specialty chemicals.
In Q2 FY2026, revenue reached $2.47 billion, exceeding analyst expectations by 10.3%, and net income reached $660 million, up 646.4%. For H1 FY2026, the company recorded revenue of $4.2285 billion, net income of $1.0247 billion, and earnings per share of $3.59. Gross profit reached $2.0386 billion, equivalent to a gross margin of 48.2% versus 26.7% in the comparable period.
Lithium drove the results through record quarterly sales exceeding 84 thousand metric tons of lithium carbonate equivalent from Chile and Australia, with prices rising during Q2 FY2026. Iodine delivered strong performance supported by demand and prices, while specialty plant nutrition also benefited from higher prices and volumes. This recovery follows the decline in FY2024 revenue to $4.5 billion from $7.5 billion in FY2023 and $10.7 billion in FY2022.
The analyst consensus on SQM is Neutral, with an average target of $93.33 and a range between $82 and $104. The average target is close to the upper end of the 52-week range of $98, while the highest target exceeds it and the lowest target remains clearly below it, reflecting divergent expectations regarding the sustainability of the lithium recovery. No usable price-to-earnings ratio is available in the data, so the risk assessment is based on the target range and earnings volatility between FY2022 and FY2024.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Revenue reached $2.47 billion, exceeding analyst expectations by 10.3%. The company recorded record sales exceeding 84 thousand metric tons of lithium carbonate equivalent, alongside higher lithium prices during the quarter. Iodine and specialty plant nutrition also supported performance, and quarterly net income reached $660 million.
Novandino Litio expects to produce between 280 thousand and 290 thousand metric tons of lithium carbonate equivalent in FY2026. The company aims to approach capacity of 300 thousand metric tons in FY2027, including approximately 80 thousand tons through lithium sulfate and 220 thousand tons from the Antofagasta chemical plant. International operations expect sales ranging between 27 thousand and 30 thousand metric tons of lithium carbonate equivalent during FY2026.
In July 2026, Novandino Litio submitted the project's environmental and technical documents to the authorities, and implementation remains subject to the required approvals. The project includes an investment of approximately $3 billion over seven years and aims to increase production while reducing the environmental footprint and changing the operating technology at Salar de Atacama. Management emphasized that the investment is not intended solely to add production capacity, but to redevelop the operation on a broader scale.
Automated analysis for informational purposes only — not investment advice.
No, iodine delivered strong performance in Q2 FY2026 supported by demand and prices, and the company expects to produce approximately 15,500 metric tons during FY2026. It also aims to increase specialty plant nutrition sales volumes by approximately 10% compared with FY2025. However, management expects new iodine capacity in Chile to offset estimated demand growth of approximately 3%, which could keep annual sales volumes close to FY2025 levels.
The company raised its estimate for global demand in FY2026 to more than 2.1 million metric tons, but it also pointed to increased supply from China, Africa, and Argentina and the restart of projects in Australia. Management is monitoring a gap between energy storage battery shipments and installations and believes some shipments were associated with pulling forward sales from FY2027 due to the removal of tax rebates on Chinese exports. It also sees the potential for the growth rate of battery energy storage applications to slow, despite their continued importance as a source of demand.
H1 FY2026 net income reached approximately $1.0247 billion, an increase of 353.5%, and earnings per share reached $3.59. In FY2024, the company recorded net income of $685.1 million and earnings per share of $2.3986, compared with $923.2 million and $3.232 in FY2023. Performance remains volatile compared with FY2022, when net income reached $3.9 billion and earnings per share reached $13.6757.
