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Sociedad Quimica y Minera de Chile (SQM) USD

SQM produces specialty plant nutrients and fertilizers, as well as iodine and its derivatives for medical, agricultural, and industrial uses. It also manufactures lithium compounds, including lithium carbonate and lithium hydroxide, used in batteries and other industrial applications.

At a glance: strengths & risks
✓Revenue growing (+137% y/y, Q2 2026)✓Profit growing (+646% y/y, Q2 2026)✓Margins improving (30%→50%, Q2 2026)✗High leverage (3.4x EBITDA)

Sector: Lithium

Geography: Chile

COMM_SQM

Price chart

75.4 USDDay -0.34%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
75.4 USD · -0.34%
Market cap
21.5 bn USD

Growth

Δ revenue y/y
136.7%
Δ EBITDA y/y
292.8%

Multiples

P/E (LTM)
15.5x
3y avg: 16.8x
P/B (FY)
4.2x
P/E (ann.)
8.2x
EV/EBITDA (LTM)
8.6x
3y avg: 8.8x
EV/EBITDA (ann.)
4.8x

Cash return

Dividend yield
3.3%
FCF yield (LTM)
6.2%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-22.3%
↓ details

Liquidity

Daily turnover (listing)
35.3 mln USD

Shares: yahoo_fundamentals_timeseries/SQM

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK2468.3
y/y 136.7%
1207.6
y/y 626.6%
1.7
y/y -98.8%
1209.3
y/y 292.8%
660.0
y/y 646.4%
——16648.1
y/y 44.5%
6311.1
y/y 17.9%
43.4%1839.6Yahoo Finance
2026-03-31Q1 2026 (3M)OK1760.0
y/y 69.8%
729.7
y/y 197.9%
10.8
y/y -90.6%
740.5
y/y 105.9%
364.7
y/y 165.2%
——15779.5
y/y 37.4%
5852.2
y/y 11.4%
25.3%2282.5Yahoo Finance
2025-12-31Q4 2025 (3M)OK1323.9
y/y —
368.8
y/y —
1.4
y/y —
370.2
y/y —
183.8
y/y —
558.3-241.714505.0
y/y —
5691.3
y/y —
13.1%2904.9Yahoo Finance
2025-09-30Q3 2025 (3M)OK1173.0
y/y 8.9%
289.3
y/y 27.0%
114.8
y/y 15.4%
404.1
y/y 23.5%
178.4
y/y 35.8%
431.8-243.911726.2
y/y 3.9%
5491.6
y/y 8.0%
4.4%3217.0Yahoo Finance
2025-06-30Q2 2025 (3M)OK1042.7
y/y -19.4%
166.2
y/y -49.5%
141.7
y/y 68.1%
307.9
y/y -25.5%
88.4
y/y -58.6%
108.4-213.311524.0
y/y 7.0%
5353.9
y/y 8.4%
6.7%3170.8Yahoo Finance
2025-03-31Q1 2025 (3M)OK1036.6
y/y -4.4%
244.9
y/y -26.1%
114.7
y/y 57.6%
359.6
y/y -11.0%
137.5
y/y —
215.9-177.811487.0
y/y 8.5%
5253.5
y/y 12.9%
10.6%3068.2Yahoo Finance
2024-12-31Q4 2024 (3M)PARTIAL1073.8
y/y -18.1%
177.9
y/y -38.7%
1.2
y/y -99.5%
179.1
y/y -66.5%
1216.3
y/y 238.3%
565.4-464.011495.6
y/y 6.6%
5160.8
y/y 16.2%
13.5%4809.8Yahoo Finance
2024-09-30Q3 2024 (3M)OK1076.9
y/y -41.5%
227.8
y/y -67.9%
99.5
y/y 9751.5%
327.3
y/y -54.0%
131.4
y/y -72.6%
0.0-220.511290.5
y/y 2.9%
5084.4
y/y -3.1%
3.5%3288.3Yahoo Finance
2024-06-30Q2 2024 (3M)OK1293.6
y/y -37.0%
329.0
y/y -59.9%
84.3
y/y 4929.8%
413.3
y/y -49.7%
213.6
y/y -63.2%
558.8-226.310772.9
y/y 2.0%
4936.9
y/y 0.5%
17.8%3483.9Yahoo Finance
2024-03-31Q1 2024 (3M)OK1084.5
y/y -52.1%
331.2
y/y -67.7%
72.8
y/y 115.1%
404.0
y/y -61.8%
-869.5
y/y -216.0%
150.6-175.310587.6
y/y -5.2%
4651.4
y/y -14.3%
-76.5%3187.5Yahoo Finance
2023-12-31Q4 2023 (3M)PARTIAL1311.6
y/y —
290.1
y/y —
244.3
y/y —
534.4
y/y —
-879.2
y/y —
-1974.5-301.610778.8
y/y —
4441.2
y/y —
19.2%4044.9Yahoo Finance
2023-09-30Q3 2023 (3M)OK1840.3
y/y —
710.3
y/y —
1.0
y/y —
711.3
y/y —
479.4
y/y —
419.9-281.110970.6
y/y —
5245.7
y/y —
12.6%2474.7Yahoo Finance
2023-06-30Q2 2023 (3M)OK2051.7
y/y —
819.4
y/y —
1.7
y/y —
821.0
y/y —
580.2
y/y —
608.1-274.510561.9
y/y —
4914.3
y/y —
44.9%1374.2Yahoo Finance
2023-03-31Q1 2023 (3M)OK2263.8
y/y —
1024.6
y/y —
33.8
y/y —
1058.4
y/y —
749.9
y/y —
749.9-246.411167.9
y/y —
5429.5
y/y —
—886.5Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)426
Long-term debt (incl. LT leases)4 791
− Cash & equivalents3 377
Net debt1 840

Net debt / LTM EBITDA: 0.7x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002 0002 5002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-100%0%100%200%300%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-400-20002004002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

01 0002 0003 0004 0005 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2020–2024 operating cash flow came to 1.08x of reported net profit; after capex, 0.44x.
year20202021202220232024
cash flow / profit1.08x1.39x1.04x-0.21x1.84x
accruals, % of assets-0.3%-3.2%-1.5%10.4%-5.1%
Last twelve months (to 2026-06-30): 0.95x of profit came back as operating cash flow.
net debt / EBITDA 3.4x · EBIT covers interest 5.4x · capex 2.9x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Chemicals

Proved reserves
40 mln tons
2025
Annual production
1.82 mln boe
2026

Proved reserves

YearReserves, mln tons
202540 *
202472
202365
202218 *
202022 *

Production

YearProduction, mln boeper day, mln boe
20261.82 * (12M)
−82.5%		0.00
202510.37 * (12M)0.03

* historical figures with reconstructed scale · * partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Lithium Hydroxide CIF USD/TNE

Current 18 143spot vs LTM +16%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -22.3% → +0.0 pp 1d

Main driver: Lithium Hydroxide CIF USD/TNE +27% vs LTM; revenue ×1.16 vs costs ×1.04; EBITDA 2 761→3 161; at 5.9× EV/EBITDA → -22%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Lithium Hydroxide CIF USD/TNE (rev)+60%18 143.1814 238.6614 275.68+27%+0%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue6 725
LTM EBITDA2 761
LTM cash costs (revenue − EBITDA)3 964
2 · Revenue projection
Revenue multiplier — spot×1.165 (+16%)
= Spot revenue7 832
Revenue multiplier — 3y price×1.002 (+0%)
= 3-year-price revenue6 736
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs4 122
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs4 122
4 · EBITDA projection (revenue − costs)
= Spot EBITDA3 709
= 3-year-price EBITDA2 613
Conservative EBITDA = min(spot, avg)3 161
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)5.9x
Target EV = EV/EBITDA × conservative EBITDA18 621
Net debt1 840
Target market cap = EV − net debt16 781
Current market cap21 611

Upside = target market cap ÷ current − 1 = -22.3%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q31 8401 988-7.4%711679+4.7%
2023 Q41 3121 484-11.6%517242+113.7%
2024 Q11 0851 083+0.2%404-30—
2024 Q21 2941 063+21.7%41385+386.7%
2024 Q31 077974+10.6%32781+304.6%
2024 Q41 074938+14.4%179143+25.5%
2025 Q11 037994+4.3%360173+108.5%
2025 Q21 043988+5.5%308168+83.4%
2025 Q31 173986+18.9%404203+98.8%
2025 Q41 3241 154+14.7%387366+5.7%
2026 Q11 7601 782-1.2%740983-24.7%
2026 Q22 4681 980+24.7%1 2301 093+12.5%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -39% vs -30% the year before — a -9.1 pp move. 3-year CAGR +17%.
revenue growth by year: 2022 +274% · 2023 -30% · 2024 -39%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.1x · target 75th pct (3y) 11.5x · LTM avg 13.2x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-081.435 USDEx-dividend: 1.435 USD per sharePaidYahoo Finance (ex-div)
2026-05-081.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2024-05-090.213 USDEx-dividend: 0.213 USD per sharePaidYahoo Finance (ex-div)
2023-12-060.503 USDEx-dividend: 0.503 USD per sharePaidYahoo Finance (ex-div)
2023-11-020.609 USDEx-dividend: 0.609 USD per sharePaidYahoo Finance (ex-div)
2023-07-130.788 USDEx-dividend: 0.788 USD per sharePaidYahoo Finance (ex-div)
2023-05-113.224 USDEx-dividend: 3.224 USD per sharePaidYahoo Finance (ex-div)
2022-12-083.081 USDEx-dividend: 3.081 USD per sharePaidYahoo Finance (ex-div)
2022-09-291.849 USDEx-dividend: 1.849 USD per sharePaidYahoo Finance (ex-div)
2022-06-022.787 USDEx-dividend: 2.787 USD per sharePaidYahoo Finance (ex-div)
2022-04-280.097 USDEx-dividend: 0.097 USD per sharePaidYahoo Finance (ex-div)
2021-12-311.4 USDEx-dividend: 1.4 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Sociedad Quimica y Minera de Chile (SQM) — from primary filings.

Frequently asked questions

What is Sociedad Quimica y Minera de Chile (SQM)'s P/E ratio?
Sociedad Quimica y Minera de Chile (SQM) trades at a P/E of 15.5x (price to trailing 12-month earnings).
What is Sociedad Quimica y Minera de Chile (SQM)'s EV/EBITDA?
Sociedad Quimica y Minera de Chile (SQM) trades at 8.6x EV/EBITDA.
What is Sociedad Quimica y Minera de Chile (SQM)'s P/B ratio?
Sociedad Quimica y Minera de Chile (SQM) trades at a P/B of 4.2x.
What is Sociedad Quimica y Minera de Chile (SQM)'s dividend yield?
Sociedad Quimica y Minera de Chile (SQM)'s trailing 12-month dividend yield is 3.3%.
What is Sociedad Quimica y Minera de Chile (SQM)'s return on equity (ROE)?
Sociedad Quimica y Minera de Chile (SQM)'s ROE is 43.4%.
What is Sociedad Quimica y Minera de Chile (SQM)'s market capitalization?
Sociedad Quimica y Minera de Chile (SQM)'s market cap is 21.5 bn USD.

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