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Sociedad Quimica y Minera de Chile (SQM) USD

At a glance: strengths & risks
✗Revenue declining (-39%)✗Profit falling (-26%)✗Margins compressing (42%→31%)✗High leverage (3.4x EBITDA)

Sector: Lithium

Geography: Chile

COMM_SQM

Price chart

68.73 USDDay -0.85%

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
68.73 USD · -0.85%
Market cap
19.6 bn USD

Growth

Δ revenue y/y
69.8%
Δ EBITDA y/y
102.9%

Multiples

P/E (LTM)
24.1x
P/B (FY)
3.8x
P/E (ann.)
13.5x
EV/EBITDA (LTM)
12.0x
EV/EBITDA (ann.)
7.4x

Cash return

Dividend yield
1.5%
FCF yield (LTM)
4.0%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-41.5%
↓ details

Liquidity

Daily turnover (listing)
27.1 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
2026-03-31Q1 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%2282.5Link
2025-12-31Q4 2025 (3M)PARTIAL1323.9
y/y —
368.8
y/y —
1.4
y/y —
370.2
y/y —
183.8
y/y —
—-241.714505.0
y/y —
5691.3
y/y —
13.1%2904.9Link
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%3217.0Link
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%3170.8Link
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%3068.2Link
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%4809.8Link
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%3288.3Link
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%3483.9Link
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%3187.5Link
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%4044.9Link
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%2474.7Link
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%1374.2Link
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 —
—886.5Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-50%0%50%100%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-400-20002004002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01 0002 0003 0004 0005 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

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

Production, mln boe

10.3720251.822026

Proved reserves

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

Production

YearProduction, mln boeper day
20261.82 * (3M)
−82.5%		19 899
202510.37 * (3M)113 610

* historical figures with reconstructed scale · * partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Lithium Hydroxide CIF USD/TNE

Current 19 148spot vs LTM +33%

Commodity-player potential

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

Upside: -41.5% ▲ +0.4 pp 1d

Main driver: Lithium Hydroxide CIF USD/TNE +33% vs LTM; revenue ×1.20 vs costs ×1.04; EBITDA 1 840→2 305; at 6.0× EV/EBITDA → -42%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Lithium Hydroxide CIF USD/TNE (rev)+60%19 148.0414 406.7415 134.28+33%+5%

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

1 · Reported baseline (LTM)
LTM revenue5 300
LTM EBITDA1 840
LTM cash costs (revenue − EBITDA)3 460
2 · Revenue projection
Revenue multiplier — spot×1.197 (+20%)
= Spot revenue6 346
Revenue multiplier — 3y price×1.030 (+3%)
= 3-year-price revenue5 460
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs3 598
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs3 598
4 · EBITDA projection (revenue − costs)
= Spot EBITDA2 748
= 3-year-price EBITDA1 862
Conservative EBITDA = min(spot, avg)2 305
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)6.0x
Target EV = EV/EBITDA × conservative EBITDA13 759
Net debt2 282
Target market cap = EV − net debt11 477
Current market cap19 632

Upside = target market cap ÷ current − 1 = -41.5%

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 Q22 0522 213-7.3%838866-3.3%
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%264143+84.7%
2025 Q11 037994+4.3%360194+85.2%
2025 Q21 043988+5.5%308190+62.4%
2025 Q31 173986+18.9%404225+79.7%
2025 Q41 3241 154+14.7%387388-0.2%
2026 Q11 7601 782-1.2%740983-24.7%

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 5.6x · target 75th pct (3y) 6.0x · LTM avg 12.6x

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

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
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)
2021-09-020.314 USDEx-dividend: 0.314 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.

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.

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 24.1x (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 12.0x 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 3.8x.
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 1.5%.
What is Sociedad Quimica y Minera de Chile (SQM)'s return on equity (ROE)?
Sociedad Quimica y Minera de Chile (SQM)'s ROE is 25.3%.
What is Sociedad Quimica y Minera de Chile (SQM)'s market capitalization?
Sociedad Quimica y Minera de Chile (SQM)'s market cap is 19.6 bn USD.