Semiconductor Manufacturing International Corp (0981) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Semiconductor Manufacturing International Corp HK$13.59, price HK$60.25, upside -77.4%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$14.02 – HK$91.05 · fair‑value band HK$9.11 – HK$18.08 · the HK$60.25 price screens above the HK$13.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 27, 2026.
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Semiconductor Manufacturing International Corporation, an investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.
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Semiconductor Manufacturing International Corporation, an investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia. The company is also involved in the manufacturing, sale, and trading of semiconductor products; and research and development activities. In addition, it offers semiconductor foundry and technology services; supporting services comprising design and IP support, photomask manufacturing, etc.; development, design, and technical services related to integrated circuits; marketing related services; and private education services. Further, the company tests and sells self-produced products, and other services. Semiconductor Manufacturing International Corporation was incorporated in 2000 and is headquartered in Shanghai, China.
Stock analysis
Semiconductor Manufacturing International Corp (0981) currently trades at HK$60.25, while our model-based Fair Value estimate is HK$13.59, 77.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$18.23 per share, and 0 of the 14 models we run sit above the HK$60.25 price.
Bear case: the Economic Profit group reads lowest at HK$4.95, and 14 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: HK$9.11 (bear) to HK$18.08 (bull), the price of HK$60.25 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Semiconductor Manufacturing International Corp reported revenue of $9.3B in FY2025 versus $5.4B in FY2021, a compound +14.4%/yr. Reported net income was $685M in FY2025, compounding −20.3%/yr from FY2021.
Key figures
Market cap HK$542B (≈ $69.1B) · P/E ratio 62.1 · P/S ratio 4.56 · EPS (TTM) HK$0.1200 · Net margin 7.3% · Return on equity 4.2% · Return on assets (EBIT) 2.4% · Operating margin 17.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −41% fair-value upside, at −77%, 0981 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (HK$4.95 to HK$57.07). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear HK$9.11Fair Value HK$13.59Bull HK$18.08
Price HK$60.25 · Upside -77.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0911 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+16.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.0%
Start year 2020 (pandemic). Over 10 years: +15.4% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−7.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.9%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.9% vs 0.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 12%
Compare Semiconductor Manufacturing International Corp with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductors · 334 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−77.4% · Bottom 25%
Profitability
Return on equity (TTM)4.2% · Below median
Return on assets1.6% · Below median
Net margin (TTM)14.5% · Above median
Operating margin (TTM)17.1% · Above median
Growth and dividend
Revenue growth36.1% · Top 25%
Balance sheet
Debt / equity0.46× · Highest 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (TTM)62.1× · Pricier than median
P/B3.20× · Cheaper than median
P/S (TTM)9.61× · Pricier than median
EV/EBITDA19.9× · Cheaper than median
PEG1.16× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 88
PAST (return on equity)17· sector 27
HEALTH (low debt)77· sector 95
DIVIDEND (yield)0· sector 19
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Semiconductor Manufacturing International Corp Fair Value". https://www.fairvalue-calculator.com/stock/0981
Frequently asked questions
Is Semiconductor Manufacturing International Corp (0981) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$13.59 versus a price of HK$60.25, about −77% upside (overvalued).
What is the fair value of 0981?
Our model-based fair value for Semiconductor Manufacturing International Corp is HK$13.59 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$60.25.
What is the quality score of 0981?
Semiconductor Manufacturing International Corp has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Semiconductor Manufacturing International Corp (0981)?
Our model-based price target is the fair value of HK$13.59 (as of Sep 27, 2026) from 14 valuation models. Cautious scenario HK$9.11, optimistic scenario HK$18.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Semiconductor Manufacturing International Corp stock forecast for 2026?
Our models put fair value at HK$13.59, about −77% upside versus a price of HK$60.25 (overvalued). Cautious scenario HK$9.11, optimistic scenario HK$18.08. The calculation is refreshed regularly with new filings.
What is the revenue of Semiconductor Manufacturing International Corp (0981)?
Semiconductor Manufacturing International Corp reported trailing-twelve-month revenue of about $10.4B (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Semiconductor Manufacturing International Corp (0981)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Semiconductor Manufacturing International Corp it is HK$13.59 per share (as of Sep 27, 2026), against a price of HK$60.25. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Semiconductor Manufacturing International Corp stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0981 trades above its calculated fair value: price HK$60.25, fair value HK$13.59, a gap of about −77% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0981?
No. The price is what the market pays today (HK$60.25); the fair value is what the company's own numbers justify (HK$13.59). For Semiconductor Manufacturing International Corp the two are HK$46.66 per share apart. That gap is exactly why we show both numbers side by side.
How much is Semiconductor Manufacturing International Corp worth?
The market values Semiconductor Manufacturing International Corp at about HK$542B (market capitalisation, as of Sep 27, 2026). Per share that is HK$60.25; our models calculate a fair value of HK$13.59 per share.
What do the bullish and bearish scenarios say about 0981?
Our models span a range for Semiconductor Manufacturing International Corp: cautious scenario HK$9.11, base HK$13.59, optimistic HK$18.08 per share (as of Sep 27, 2026, price HK$60.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0981?
Semiconductor Manufacturing International Corp trades at a price-to-earnings ratio of 62.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$13.59 is built from several models across several years. Other multiples: PEG 1.2, P/B 3.2, P/S 9.6, EV/EBITDA 19.9.
What is the PEG ratio of 0981?
The PEG ratio of Semiconductor Manufacturing International Corp is 1.16 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Semiconductor Manufacturing International Corp (0981)?
Balance-sheet figures for Semiconductor Manufacturing International Corp (as of Sep 27, 2026): return on equity 4.2%, debt of 0.46 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 0981 from its 52-week high?
Semiconductor Manufacturing International Corp trades at HK$60.25, about 34% below its 52-week high of HK$91.05 and 19% above the low of HK$50.70 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$13.59 is for.
Which stocks are comparable to Semiconductor Manufacturing International Corp?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Semiconductor Manufacturing International Corp stock attractive at the current price?
The data as of Sep 27, 2026: price HK$60.25, calculated fair value HK$13.59 (−77%), Quality Score 52/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0981 calculated?
We run Semiconductor Manufacturing International Corp through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$13.59, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Semiconductor Manufacturing International Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Semiconductor Manufacturing International Corp (0981)?
The closing price on Oct 2, 2026 was HK$60.25. Our model-based fair value is HK$13.59, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Semiconductor Manufacturing International Corp right now?
The price sits above even our optimistic bull case (HK$18.08). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (HK$9.11 to HK$18.08) leaves room in how you read the outcome.
Where does the earnings growth of Semiconductor Manufacturing International Corp (0981) come from?
Earnings per share at Semiconductor Manufacturing International Corp grew +2.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.2 %, EBIT margin −1.9 %, tax rate −1.2 %, residual (interest, one-offs) +0.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Semiconductor Manufacturing International Corp
How large is the market capitalisation of Semiconductor Manufacturing International Corp (0981)?
The market capitalisation of Semiconductor Manufacturing International Corp is HK$542B (≈ $69.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Semiconductor Manufacturing International Corp (0981)?
The price-to-sales ratio of Semiconductor Manufacturing International Corp is 4.56 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Semiconductor Manufacturing International Corp (0981)?
Earnings per share at Semiconductor Manufacturing International Corp are HK$0.1200 (price ÷ EPS = P/E 62.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Semiconductor Manufacturing International Corp (0981)?
The net margin of Semiconductor Manufacturing International Corp is 7.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Semiconductor Manufacturing International Corp (0981)?
The return on equity (ROE) of Semiconductor Manufacturing International Corp is 4.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Semiconductor Manufacturing International Corp (0981)?
On an EBIT basis the return on assets of Semiconductor Manufacturing International Corp is 2.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Semiconductor Manufacturing International Corp (0981)?
The operating margin of Semiconductor Manufacturing International Corp is 17.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Semiconductor Manufacturing International Corp (0981)?
Revenue at Semiconductor Manufacturing International Corp is growing +36.1% versus a year earlier (3y avg +8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Semiconductor Manufacturing International Corp (0981)?
Earnings per share at Semiconductor Manufacturing International Corp are growing +259% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Semiconductor Manufacturing International Corp (0981) generate?
The free cash flow of Semiconductor Manufacturing International Corp is −$5.0B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Semiconductor Manufacturing International Corp (0981) carry?
The net debt of Semiconductor Manufacturing International Corp is $6.5B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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