Sociedad Química y Minera de Chile S.A.

NYSE:SQM Stock Report

Market Cap: US$24.0b

Sociedad Química y Minera de Chile Future Growth

Future criteria checks 4/6

Sociedad Química y Minera de Chile is forecast to grow earnings and revenue by 20.2% and 9.8% per annum respectively. EPS is expected to grow by 19.6% per annum. Return on equity is forecast to be 21.2% in 3 years.

Key information

20.2%

Earnings growth rate

19.57%

EPS growth rate

Chemicals earnings growth17.9%
Revenue growth rate9.8%
Future return on equity21.16%
Analyst coverage

Good

Last updated12 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 06

SQM: Lithium Inventory Rebound In China Will Likely Cap Future Upside

Analysts have nudged their fair value estimate for Sociedad Química y Minera de Chile higher, with a modest uptick supported by a series of recent price target increases into the $58 to $105 range and mixed views on lithium pricing and inventory trends. Analyst Commentary Recent research on Sociedad Química y Minera de Chile highlights a split view, with some firms lifting targets while others flagging more limited upside based on current lithium pricing and inventory data.
Seeking Alpha • May 27

Sociedad Química y Minera de Chile: Q1 Results, Fundamentals Justify Sharp Upgrade

Summary Sociedad Química y Minera de Chile posted mixed Q1 results, with revenues beating estimates, while revenues were a sizable miss. The bigger story is the dramatic Y-O-Y rise in revenues and earnings, with long-term fundamentals suggesting that positive financial momentum is likely to continue. I initiated a stock position in SQM, with an intent to buy more on further dips, as a broader strategy to build a core lithium position in my portfolio. Read the full article on Seeking Alpha
Narrative Update • May 23

SQM: Lithium Pricing Strength Will Support 2026 Earnings Power

Analysts have lifted their price target estimate for Sociedad Química y Minera de Chile to $106 from $100, citing updated assumptions around revenue growth, margins and future P/E that align with a series of recent target hikes across the Street. Analyst Commentary Recent research on Sociedad Química y Minera de Chile shows a cluster of price target revisions as bullish analysts update their models for revenue assumptions, profitability and future P/E multiples.
Narrative Update • Apr 30

SQM: Lithium Rebound Will Likely Outrun Fundamentals After Recent Price Surge

The analyst price target for Sociedad Química y Minera de Chile has been raised by $8, with analysts citing slightly higher fair value, a modestly lower discount rate, firmer revenue growth and profit margin assumptions, and a somewhat lower future P/E as the key drivers behind the update. Analyst Commentary Recent research updates on Sociedad Química y Minera de Chile show a mix of optimism and caution.
Narrative Update • Apr 16

SQM: Lithium Price Recovery And 2026 Earnings Power Will Drive Returns

Analysts have lifted price targets on Sociedad Química y Minera de Chile into a $53 to $100 range, citing a mix of updated profit margin assumptions, modestly lower revenue growth expectations, slightly adjusted discount rates, and revised future P/E estimates. Analyst Commentary Recent Street research on Sociedad Química y Minera de Chile shows a wide spread of opinions, but the most optimistic voices are pointing to higher valuation ranges supported by revised assumptions on margins, revenue trajectories, and P/E multiples.
Narrative Update • Apr 01

SQM: Lithium Rebound Will Likely Outpace Future Earnings And Execution Delivery

Analysts have raised the consolidated price target on Sociedad Química y Minera de Chile by several dollars per share, citing a broad series of recent target hikes from major banks that reflect a more constructive lithium sector view and renewed investor interest ahead of 2026. Analyst Commentary Recent research points to a split view on Sociedad Química y Minera de Chile, with several large banks lifting price targets and ratings, while more cautious voices question how much upside is left after the lithium rebound.
Narrative Update • Mar 18

SQM: Lithium Pricing Inflection And 2026 Outlook Will Drive Returns

Narrative Update on Sociedad Química y Minera de Chile (SQM) The analyst fair value estimate for SQM has been raised from $80 to $100, reflecting recent upward revisions to Street price targets and analyst commentary that highlights a more constructive view on lithium pricing, sector sentiment, and SQM's positioning heading into 2026. Analyst Commentary Recent Street research on Sociedad Química y Minera de Chile points to a more constructive tone around lithium pricing, sector sentiment, and SQM's role in that setup heading into 2026.
Narrative Update • Mar 04

SQM: Future Returns Will Balance Lithium Price Recovery And Copper Exploration Execution

Narrative Update The analyst price target for Sociedad Química y Minera de Chile has moved modestly higher to about $75.33 from $74, as analysts factor in recent price target increases across the Street, tied to stronger lithium pricing and renewed investor interest in the sector. Analyst Commentary Recent research on Sociedad Química y Minera de Chile points to a split view, with several bullish analysts lifting ratings and targets on the back of stronger lithium pricing and renewed interest in the sector, while more cautious voices question how current valuations line up with fundamentals.
Narrative Update • Feb 18

SQM: Rising Lithium Optimism Will Face Persistent Execution And Earnings Visibility Risks

Analysts have adjusted their price targets on Sociedad Química y Minera de Chile toward $88 to $90, supported by more constructive lithium pricing assumptions, slightly higher modeled revenue growth and profit margins, and a modestly lower future P/E, even as at least one firm has turned more cautious on the shares. Analyst Commentary Recent Street research on Sociedad Química y Minera de Chile highlights a mix of optimism on lithium pricing and demand alongside a more cautious tone from some Bearish analysts.
Narrative Update • Feb 04

SQM: Future Returns Will Reflect Lithium Pricing And Codelco Partnership Execution

Analysts have lifted their fair value estimate for Sociedad Química y Minera de Chile to US$74.00 from US$61.44, reflecting updated views on higher revenue growth assumptions, a lower discount rate, a higher future P/E multiple, and recent research that points to firmer lithium pricing and renewed sector interest, despite at least one more cautious broker stance. Analyst Commentary Recent Street research on Sociedad Química y Minera de Chile shows a mix of enthusiasm around lithium pricing and demand, alongside some hesitation about how sustainable that optimism might be for valuation and execution.
Narrative Update • Jan 21

SQM: Higher Lithium Hopes Will Face Persistent Chilean Royalty Pressure

Analysts have lifted their fair value estimate for Sociedad Química y Minera de Chile to US$40 from US$37, reflecting updated assumptions for higher revenue growth, stronger profit margins, a lower discount rate, and a reduced future P/E multiple, supported by recent price target increases and more constructive sector views in Street research. Analyst Commentary Recent Street research on Sociedad Química y Minera de Chile highlights a mixed backdrop, with several firms lifting price targets and turning more constructive on lithium and broader sector sentiment.
Analysis Article • Jan 15

Investors Appear Satisfied With Sociedad Química y Minera de Chile S.A.'s (NYSE:SQM) Prospects As Shares Rocket 28%

Despite an already strong run, Sociedad Química y Minera de Chile S.A. ( NYSE:SQM ) shares have been powering on, with...
Narrative Update • Jan 07

SQM: Lithium Demand Outlook And Codelco JV Clarity Will Shape Returns

Analysts have lifted their price expectations for Sociedad Química y Minera de Chile toward the US$77 level, citing updated models that factor in higher lithium pricing, projected demand growth, and a potential narrowing of the company’s valuation discount once the Codelco JV terms are clarified. Analyst Commentary Recent Street research on Sociedad Química y Minera de Chile highlights a mix of optimism around lithium demand and pricing, along with some caution tied to Chilean royalty exposure.
Analysis Article • Jan 02

Sociedad Química y Minera de Chile (NYSE:SQM) Takes On Some Risk With Its Use Of Debt

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Narrative Update • Dec 23

SQM Codelco Joint Venture Resolution Will Unlock Lithium Upside Potential

Analysts have raised their price target on Sociedad Química y Minera de Chile to approximately $80 from about $74, citing expectations for stronger lithium demand and pricing, improving profitability, and a potential narrowing of the valuation discount as regulatory uncertainties around the Codelco joint venture ease. Analyst Commentary Bullish analysts highlight that the latest price target increase reflects growing confidence in the sustainability of lithium pricing and in Sociedad Química y Minera de Chile's ability to execute on its capacity expansion plans.
Narrative Update • Dec 09

SQM: Future Returns Will Reflect Lithium Demand And Codelco Partnership Terms

Analysts have modestly raised their average price target on Sociedad Química y Minera de Chile, lifting fair value from about $56.66 to $61.44 as they factor in firmer lithium price expectations, improving demand forecasts, and a potential narrowing of the company’s valuation discount once the Codelco joint venture structure is clarified. Analyst Commentary Street research on Sociedad Química y Minera de Chile reflects a mixed but gradually improving outlook, with higher long term lithium price assumptions supporting upside potential while near term execution and policy risks keep some investors on the sidelines.
Narrative Update • Nov 25

SQM: Future Performance Will Reflect Demand Outlook And Royalty Exposure

Sociedad Química y Minera de Chile's analyst fair value estimate has increased from $52.03 to $56.66. Analysts cite stronger lithium demand forecasts and improved profit margins as the reasons for the upward revision.
Analysis Article • Nov 25

Investors Appear Satisfied With Sociedad Química y Minera de Chile S.A.'s (NYSE:SQM) Prospects As Shares Rocket 28%

The Sociedad Química y Minera de Chile S.A. ( NYSE:SQM ) share price has done very well over the last month, posting an...
Narrative Update • Nov 11

SQM: Future Performance Will Depend On Lithium Prices And Regulatory Headwinds

Analysts have modestly adjusted the consensus price target for Sociedad Química y Minera de Chile, increasing it by $0. This reflects a balanced view that recognizes the company's continued earnings potential amidst both favorable lithium market dynamics and persistent regulatory headwinds.
Narrative Update • Oct 28

Lithium Price Shifts And Royalties Will Influence Future Share Performance

Analysts have raised their fair value estimate for Sociedad Química y Minera de Chile from $50.99 to $52.03, citing improved lithium price outlooks and continued robust revenue growth potential. However, they caution on the company’s exposure to Chilean royalties.
Analysis Article • Sep 24

Estimating The Fair Value Of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Key Insights Using the 2 Stage Free Cash Flow to Equity, Sociedad Química y Minera de Chile fair value estimate is...
Analysis Article • Sep 01

Sociedad Química y Minera de Chile S.A.'s (NYSE:SQM) 27% Share Price Surge Not Quite Adding Up

Sociedad Química y Minera de Chile S.A. ( NYSE:SQM ) shares have continued their recent momentum with a 27% gain in the...
Narrative Update • Aug 27

Expanding Lithium And Iodine Production Will Meet Growing Demand In EV And Medical Markets

The analyst price target for Sociedad Química y Minera de Chile has been raised as improving lithium market sentiment, upwardly revised price assumptions, and a strong share rally outweighed valuation concerns and caution over Chinese supply risks, resulting in the fair value estimate rising to $50.72. Analyst Commentary Bullish analysts revised price targets upward due to a significant rally in SQM shares, which outpaced increases in spot lithium carbonate prices in China.
Analysis Article • Jul 07

These 4 Measures Indicate That Sociedad Química y Minera de Chile (NYSE:SQM) Is Using Debt Extensively

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jun 22

What Does Sociedad Química y Minera de Chile S.A.'s (NYSE:SQM) Share Price Indicate?

Sociedad Química y Minera de Chile S.A. ( NYSE:SQM ), might not be a large cap stock, but it saw significant share...
Seeking Alpha • Mar 07

Sociedad Química y Minera de Chile: This Is Why Lithium Will Fuel Growth

Summary Sociedad Química y Minera de Chile is rated a Buy due to projected growth in the EV market, driving future lithium demand and revenue. Partnership with Codelco in 2031 is set to lower 20-25% of SQM's lithium revenue, which currently accounts for 43% of the company's profits. SQM is expanding lithium production, particularly in Chile, to meet rising demand, with diversified operations in Australia and China for stability. Iodine, contributing 39% of gross profits, provides revenue stability, mitigating risks from fluctuating lithium prices and potential political or environmental disruptions. Read the full article on Seeking Alpha
Seeking Alpha • Dec 01

Sociedad Química y Minera de Chile: Its Rebound Is A Matter Of When Not If

Summary Sociedad Química y Minera de Chile shares are trading near 5-year lows due to declining lithium prices, but their large market share and superior margins position them well for a turnaround. Despite revenue declines, SQM's diversified operations and investments in new extraction capacities in China and Australia suggest robust future demand and potential revenue growth. Risks include slower-than-expected EV adoption and revenue loss from a renegotiated contract with the Chilean government, impacting their lithium extraction operations and profit margins. SQM's strong balance sheet, efficient capital allocation, and expected rebound in lithium pricing make it a buy at current prices, with patience required. Read the full article on Seeking Alpha
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New Narrative • Aug 23

Decisive Partnerships And Global Expansion Fuel Lithium Leader's Growth Amid Challenges

Strategic partnerships and expansion initiatives signal strong future revenue potential from lithium sales, driven by EV sector demand.
Seeking Alpha • Aug 22

Sociedad Química y Minera de Chile: Falling Knife Still Worth Catching

Summary SQM posted a mixed earnings release. However, there are reasons to be optimistic. Lithium prices have plummeted, impacting SQM's revenue and earnings markedly. SQM's low-cost position, places it well as it attempts to gain market share by not curtailing production. SQM investors should assess its growth prospects from a cyclical perspective. It seems to be at a long-term cyclical low. I explain why SQM's falling knife is still worth catching, but caution must be heeded if the EV growth curve normalizes further. Read the full article on Seeking Alpha
Seeking Alpha • Jun 27

Sociedad Quimica y Minera de Chile Stock Has Gotten Cheap

Summary Sociedad Química y Minera de Chile S.A. is a leading lithium miner facing short-term challenges due to weak EV sales, but long-term prospects remain positive. Recent results show a substantial net loss, primarily due to high taxes, but future profitability is expected as tax issues are resolved. The global EV market is facing challenges with slower growth, impacting lithium demand, but the long-term outlook for the lithium market remains promising. Read the full article on Seeking Alpha
Seeking Alpha • May 06

Sociedad Química y Minera de Chile: Managing Risks Amidst Lithium Protectionism

Summary Sociedad Química y Minera de Chile is one of the largest lithium producers, with 18% market share. Long-term demand for lithium is expected to remain strong due to its role in battery manufacturing, which could lead to a potential recovery for SQM in FY25 and beyond. However, the Chilean government's protectionist shift poses a significant risk for SQM, and the company is taking steps to diversify its business away from Chile. Read the full article on Seeking Alpha
Seeking Alpha • Feb 18

Sociedad Química y Minera de Chile: Why Investors Should Get Back In The Ring

Summary The risk-reward equation swings to SQM's favor after derisking with the LCE prices back to YE21 levels and the new concession term. The consensus has largely factored in a prolonged weak scenario and yet still finds upside. On US$11kg LCE price (forever) plus lower margins I arrive at a target price of US$48. Any rise in EV demand or restocking that moves LCE prices higher may trigger a sector and SQM resurgence. Read the full article on Seeking Alpha
Seeking Alpha • Jan 22

SQM: A Pivotal Buying Moment Is Knocking At The Front Door

Summary Investors in SQM have experienced a significant slump as the company's stock fell nearly 40% over the past year. However, we could be at the bottom of the cycle. Underlying lithium prices have crashed by about 80% over the past year, as the cycle peak in 2022 wasn't sustainable, taking commodities analysts by surprise. SQM has agreed with Codelco to extend its lease in the Salar de Atacama through 2060. I assess SQM could remain materially undervalued, given its regulatory risks. However, it last traded at a forward EBITDA multiple of just 4.7x, likely priced in. With SQM returning to its November 2023 lows as selling pressure intensified, I gleaned a pivotal buying opportunity has emerged for high-conviction investors. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:SQM - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20287,9522,1872,1952,93912
12/31/20277,6801,7901,7382,62817
12/31/20267,7521,7991,4342,37017
3/31/20265,3008151,0841,961N/A
12/31/20254,5765884381,314N/A
9/30/20254,326524681,054N/A
6/30/20254,230478-62890N/A
3/31/20254,4816033771,340N/A
12/31/20244,529-4043161,275N/A
9/30/20244,767-321-518389N/A
6/30/20245,53027-434542N/A
3/31/20246,288393-435591N/A
12/31/20237,4672,013-1,277-178N/A
9/30/20239,2892,9614681,550N/A
6/30/202310,4083,5811,5832,611N/A
3/31/202310,9553,8601,4472,416N/A
12/31/202210,7113,9063,1794,080N/A
9/30/20228,6613,0772,5473,343N/A
6/30/20226,3642,0831,3612,049N/A
3/31/20224,3541,3141,2701,834N/A
12/31/20212,862585373823N/A
9/30/20212,29233154421N/A
6/30/20212,083226-29287N/A
3/31/20211,954188-103202N/A
12/31/20201,817165-132182N/A
9/30/20201,776164-25277N/A
6/30/20201,79622321343N/A
3/31/20201,83124342363N/A
12/31/20191,944278N/A427N/A
9/30/20192,037320N/A408N/A
6/30/20192,107343N/A439N/A
3/31/20192,251407N/A460N/A
12/31/20182,266440N/A525N/A
9/30/20182,275442N/A636N/A
6/30/20182,291471N/A702N/A
3/31/20182,157438N/A728N/A
12/31/20172,157428N/A704N/A
9/30/20172,136398N/A693N/A
6/30/20172,082341N/A674N/A
3/31/20172,066323N/A650N/A
12/31/20161,939278N/A634N/A
9/30/20161,797249N/A483N/A
6/30/20161,738207N/A394N/A
3/31/20161,733207N/A415N/A
12/31/20151,728220N/A427N/A
9/30/20151,808187N/A514N/A
6/30/20151,830240N/A498N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SQM's forecast earnings growth (20.2% per year) is above the savings rate (3.5%).

Earnings vs Market: SQM's earnings (20.2% per year) are forecast to grow faster than the US market (18.5% per year).

High Growth Earnings: SQM's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SQM's revenue (9.8% per year) is forecast to grow slower than the US market (12.7% per year).

High Growth Revenue: SQM's revenue (9.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SQM's Return on Equity is forecast to be high in 3 years time (21.2%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/14 05:44
End of Day Share Price 2026/06/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Sociedad Química y Minera de Chile S.A. is covered by 27 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andres Castanos-MollorBerenberg
Joel JacksonBMO Capital Markets Equity Research
Isabella SimonatoBofA Global Research