Semiconductor Manufacturing International Future Growth
Future criteria checks 4/6
Semiconductor Manufacturing International is forecast to grow earnings and revenue by 25.3% and 13.2% per annum respectively. EPS is expected to grow by 25.3% per annum. Return on equity is forecast to be 6.6% in 3 years.
Key information
25.3%
Earnings growth rate
25.33%
EPS growth rate
| Semiconductor earnings growth | 36.9% |
| Revenue growth rate | 13.2% |
| Future return on equity | 6.56% |
| Analyst coverage | Good |
| Last updated | 23 Jun 2026 |
Recent future growth updates
Recent updates
Narrative Update • Jun 17
981: Higher Discount Rate And Rich P/E Will Keep Shares Overpriced
Analysts have slightly lowered their fair value estimate for Semiconductor Manufacturing International to HK$25.01 from HK$25.31, citing updated assumptions for revenue growth, profit margins and future P/E levels. What's in the News for Semiconductor Manufacturing International Semiconductor Manufacturing International plans to seek shareholder approval at its annual general meeting on 26 June 2026 for proposed amendments to its Articles of Association and the adoption of a new set of Articles, according to company disclosures.
Narrative Update • Jun 03
981: Higher Future P/E Will Support Upside Into Q2 2026 Guidance
Analysts have lifted their fair value estimate for Semiconductor Manufacturing International from HK$123.49 to HK$137.08, citing adjusted assumptions around revenue growth, profit margins and future P/E that feed into the refreshed price target range. What's in the News Issued earnings guidance for the second quarter of 2026, with revenue expected to be 14% to 16% higher sequentially, according to company guidance.Narrative Update • May 16
981: Future P/E Reset Will Support Constructive Upside Into Upcoming Results
Analysts have trimmed their fair value estimate for Semiconductor Manufacturing International slightly from HK$124.75 to HK$123.49. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E levels.
Narrative Update • May 01
981: Guided Margins And Flat Near Term Outlook Will Shape Fair Value
Analysts now see lower upside for Semiconductor Manufacturing International, trimming their HK$ price target as slightly softer revenue growth, profit margin and future P/E assumptions feed into a reduced fair value estimate of HK$74.97 from HK$77.69. What's in the News Board meeting scheduled for Mar 26, 2026 to approve the publication of audited annual results for the year ended Dec 31, 2025 (company announcement).Narrative Update • Apr 17
981: Future P/E Reset Will Support Constructive Long Term Upside Potential
Analysts have trimmed their HK$ price target for Semiconductor Manufacturing International, citing updated assumptions that include a slightly higher discount rate, an adjusted fair value estimate and revised expectations for revenue growth, profit margin and future P/E. What's in the News Board meeting set for Mar 26, 2026, to approve publication of audited annual results for the year ended Dec 31, 2025 (Company board filing).Narrative Update • Apr 03
981: Higher Discount Rate And Flat Near Term Revenue Will Keep Shares Overpriced
Analysts have slightly raised their price target for Semiconductor Manufacturing International to HK$25.31 from HK$25.04, citing updated assumptions for the discount rate, profit margin and future P/E as the key drivers of the change. What's in the News A board meeting is scheduled for Mar 26, 2026 to approve the publication of audited annual results for the year ended Dec 31, 2025 (company announcement).Analysis Article • Apr 02
Investors Shouldn't Be Too Comfortable With Semiconductor Manufacturing International's (HKG:981) Earnings
Last week's profit announcement from Semiconductor Manufacturing International Corporation ( HKG:981 ) was...Narrative Update • Mar 19
981: Guided Margins And Flat Near Term Outlook Will Support Upside Potential
Analysts have nudged their price target on Semiconductor Manufacturing International higher to reflect modest adjustments in fair value, discount rate, revenue growth, profit margin and future P/E assumptions, implying a slightly richer valuation in HK$. What's in the News A board meeting is scheduled for Mar 26, 2026, to approve the publication of audited annual results for the year ended Dec 31, 2025 (company announcement).Narrative Update • Mar 05
981: Flat Near Term Outlook And Guided Margins Will Support Upside Potential
Analysts have slightly increased their fair value estimate for Semiconductor Manufacturing International to HK$75.86 from HK$75.24, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What's in the News Semiconductor Manufacturing International issued earnings guidance for the first quarter of 2026, expecting revenue to be flat sequentially and gross margin in a range of 18% to 20% (company guidance).Narrative Update • Feb 19
981: Flat Revenue Outlook And Guided Margins Will Support Fair Balance
Analysts have slightly increased their HK$ fair value estimate for Semiconductor Manufacturing International, raising it from about HK$74.69 to around HK$75.24, reflecting updated assumptions on revenue growth, profit margins and future P/E expectations. What's in the News Issued earnings guidance for the first quarter of 2026, with revenue expected to be flat compared with the prior quarter and gross margin guided to a range of 18% to 20% (Key Developments).Narrative Update • Feb 05
981: Future P/E Repricing Will Support Constructive Long Term Upside Potential
Analysts have lifted their fair value estimate for Semiconductor Manufacturing International from about US$73.00 to roughly US$126.00 per share, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E levels. What's in the News A special or extraordinary shareholders meeting is scheduled for February 12, 2026 at 14:00 China Standard Time in Shanghai, China.Narrative Update • Jan 22
981: Flat Revenue Outlook And Stable Margins Will Support Fair Balance
Analysts have made a modest upward adjustment to their price target for Semiconductor Manufacturing International, reflecting fine tuned views on fair value, discount rate, growth, profit margin and future P/E assumptions. What's in the News Issued earnings guidance for fourth quarter 2025, with management indicating revenue is expected to be flat to up 2% quarter on quarter (Key Developments).Narrative Update • Jan 08
981: Flat Revenue Guidance And Slight Margin Uplift Will Support Balance
Analysts have raised their price target for Semiconductor Manufacturing International to US$74.67 from US$71.60, citing updated assumptions around revenue growth, profit margins and future P/E that result in a higher fair value estimate. What's in the News Management issued earnings guidance for the fourth quarter of 2025, indicating revenue is expected to be flat to up 2% quarter on quarter, giving you a rough sense of near term growth expectations (Key Developments).Analysis Article • Jan 04
Risks To Shareholder Returns Are Elevated At These Prices For Semiconductor Manufacturing International Corporation (HKG:981)
When you see that almost half of the companies in the Semiconductor industry in Hong Kong have price-to-sales ratios...Narrative Update • Dec 16
981: Rising Margins And Multiple Contraction Will Likely Leave Shares Overpriced
Analysts have raised their price target for Semiconductor Manufacturing International to approximately $25 per share from about $22, citing expectations for faster revenue growth, a meaningful improvement in profit margins, and a more moderate future price to earnings multiple. What's in the News Issued earnings guidance for the fourth quarter of 2025, expecting revenue to be flat to up 2% quarter over quarter, signaling cautious but positive near term growth expectations (company guidance) Scheduled a board meeting for November 13, 2025 to review and approve unaudited financial results for the quarter ended September 30, 2025, setting the stage for updated disclosure on recent performance (company announcement) Valuation Changes Fair Value has risen moderately, increasing from HK$21.89 to approximately HK$25.04 per share.Narrative Update • Dec 02
981: Flat To Slightly Higher Revenue And Margins Will Anchor Balance
Analysts have raised their price target for Semiconductor Manufacturing International from $69.38 to $71.60 per share, citing marginal improvements in growth projections and a slightly reduced discount rate. What's in the News Semiconductor Manufacturing International Corporation has provided earnings guidance for the fourth quarter of 2025, expecting revenue to be flat or increase by up to 2% quarter over quarter (Key Developments).Narrative Update • Nov 17
981: Revenue Outlook And Margin Trends Will Support Balanced Returns
Analysts have raised their price target for Semiconductor Manufacturing International from $59.57 to $69.38, citing improved projections for revenue growth as well as a modest increase in forecasted profit margins. What's in the News A board meeting is scheduled for November 13, 2025 to review and approve the unaudited financial results for the third quarter of 2025 (Key Developments).Analysis Article • Nov 16
Semiconductor Manufacturing International Corporation Just Missed Earnings - But Analysts Have Updated Their Models
Semiconductor Manufacturing International Corporation ( HKG:981 ) shareholders are probably feeling a little...Narrative Update • Nov 01
981: Rising Costs And Earnings Uncertainty Will Limit Upside Potential
Analysts have raised their price target for Semiconductor Manufacturing International from $56.64 to $59.57, citing modest improvements in projected revenue growth and profit margins. What's in the News A board meeting is scheduled for November 13, 2025, to consider and approve the unaudited financial results for the three months ended September 30, 2025 (Key Developments).Narrative Update • Oct 18
Expanding Wafer Capacity And Domestic Partnerships Will Secure Long-Term Success
Analysts have raised their price target for Semiconductor Manufacturing International from $53.81 to $56.64. This reflects slightly more optimistic expectations for the company’s future valuation based on updated fair value estimates.Narrative Update • Oct 04
Expanding Wafer Capacity And Domestic Partnerships Will Secure Long-Term Success
Analysts have raised their price target for Semiconductor Manufacturing International from $50.84 to $53.81. This change reflects increased optimism based on updated fair value assessments and a sharp decline in projected future price-to-earnings ratios.Narrative Update • Sep 19
Expanding Wafer Capacity And Domestic Partnerships Will Secure Long-Term Success
A modest improvement in net profit margin and a slight reduction in future P/E indicate incremental profitability and valuation efficiency for Semiconductor Manufacturing International, resulting in a minor increase in the consensus analyst price target to HK$50.84. What's in the News Board meeting scheduled to consider approval of unaudited interim results for the six months ended June 30, 2025.Analysis Article • Sep 17
Semiconductor Manufacturing International Corporation's (HKG:981) 31% Share Price Surge Not Quite Adding Up
Semiconductor Manufacturing International Corporation ( HKG:981 ) shares have continued their recent momentum with a...Narrative Update • Sep 04
Expanding Wafer Capacity And Domestic Partnerships Will Secure Long-Term Success
The consensus price target for Semiconductor Manufacturing International was largely maintained, as a sharp rise in the future P/E ratio offset marginal movements in the discount rate, resulting in a minimal upward revision in fair value to HK$50.06. What's in the News Board meeting scheduled to approve publication of unaudited interim results for the six months ended 30 June 2025.Analysis Article • Sep 01
Semiconductor Manufacturing International (HKG:981) Seems To Use Debt Quite Sensibly
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Aug 14
We Think You Should Be Aware Of Some Concerning Factors In Semiconductor Manufacturing International's (HKG:981) Earnings
SEHK:981 1 Year Share Price vs Fair Value Explore Semiconductor Manufacturing International's Fair Values from the...Analysis Article • Aug 10
Calculating The Fair Value Of Semiconductor Manufacturing International Corporation (HKG:981)
SEHK:981 1 Year Share Price vs Fair Value Explore Semiconductor Manufacturing International's Fair Values from the...Analysis Article • Jul 22
Semiconductor Manufacturing International Corporation's (HKG:981) Price Is Out Of Tune With Revenues
When close to half the companies in the Semiconductor industry in Hong Kong have price-to-sales ratios (or "P/S") below...
New Narrative • Feb 25
Future Earnings Will Be Challenged By Rising Costs, But Capacity Expansion And New Technologies May Provide Opportunities
Higher capital expenditures and depreciation could challenge net margins, with competition and surplus capacity possibly impacting profitability despite revenue growth.Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 15,335 | 1,858 | 1,138 | 7,414 | 18 |
| 12/31/2027 | 13,495 | 1,419 | -76 | 6,562 | 22 |
| 12/31/2026 | 11,442 | 1,027 | -2,289 | 5,532 | 20 |
| 3/31/2026 | 9,585 | 695 | -3,812 | 4,040 | N/A |
| 12/31/2025 | 9,327 | 685 | -5,176 | 3,194 | N/A |
| 9/30/2025 | 9,045 | 620 | -4,081 | 3,300 | N/A |
| 6/30/2025 | 8,835 | 577 | -3,217 | 3,596 | N/A |
| 3/31/2025 | 8,527 | 609 | -5,049 | 2,545 | N/A |
| 12/31/2024 | 8,030 | 493 | -4,494 | 3,176 | N/A |
| 9/30/2024 | 7,501 | 560 | -5,786 | 2,686 | N/A |
| 6/30/2024 | 6,950 | 505 | -6,594 | 2,250 | N/A |
| 3/31/2024 | 6,609 | 743 | -5,186 | 3,027 | N/A |
| 12/31/2023 | 6,322 | 903 | -4,275 | 3,358 | N/A |
| 9/30/2023 | 6,265 | 1,113 | -4,358 | 2,962 | N/A |
| 6/30/2023 | 6,551 | 1,490 | -4,061 | 3,230 | N/A |
| 3/31/2023 | 6,894 | 1,602 | -2,008 | 4,556 | N/A |
| 12/31/2022 | 7,273 | 1,818 | -906 | 5,348 | N/A |
| 9/30/2022 | 7,232 | 1,966 | -389 | 5,734 | N/A |
| 6/30/2022 | 6,740 | 1,817 | 343 | 5,224 | N/A |
| 3/31/2022 | 6,181 | 1,990 | -413 | 4,141 | N/A |
| 12/31/2021 | 5,443 | 1,702 | -1,317 | 3,012 | N/A |
| 9/30/2021 | 4,844 | 1,422 | -1,998 | 2,596 | N/A |
| 6/30/2021 | 4,511 | 1,357 | -2,625 | 2,756 | N/A |
| 3/31/2021 | 4,106 | 802 | -3,571 | 1,864 | N/A |
| 12/31/2020 | 3,907 | 708 | -3,649 | 1,660 | N/A |
| 9/30/2020 | 3,765 | 537 | -2,033 | 1,472 | N/A |
| 6/30/2020 | 3,499 | 395 | -1,052 | 1,070 | N/A |
| 3/31/2020 | 3,352 | 275 | -1,106 | 1,113 | N/A |
| 12/31/2019 | 3,116 | 223 | N/A | 1,019 | N/A |
| 9/30/2019 | 3,064 | 161 | N/A | 1,051 | N/A |
| 6/30/2019 | 3,098 | 73 | N/A | 950 | N/A |
| 3/31/2019 | 3,198 | 111 | N/A | 870 | N/A |
| 12/31/2018 | 3,360 | 128 | N/A | 799 | N/A |
| 9/30/2018 | 3,360 | 155 | N/A | 691 | N/A |
| 6/30/2018 | 3,279 | 154 | N/A | 894 | N/A |
| 3/31/2018 | 3,139 | 139 | N/A | 1,030 | N/A |
| 12/31/2017 | 3,101 | 180 | N/A | 1,081 | N/A |
| 9/30/2017 | 3,129 | 236 | N/A | 1,217 | N/A |
| 6/30/2017 | 3,134 | 324 | N/A | 997 | N/A |
| 3/31/2017 | 3,073 | 385 | N/A | 998 | N/A |
| 12/31/2016 | 2,914 | 377 | N/A | 977 | N/A |
| 9/30/2016 | 2,710 | 311 | N/A | 772 | N/A |
| 6/30/2016 | 2,505 | 280 | N/A | 753 | N/A |
| 3/31/2016 | 2,361 | 259 | N/A | 661 | N/A |
| 12/31/2015 | 2,236 | 253 | N/A | 669 | N/A |
| 9/30/2015 | 2,112 | 243 | N/A | 664 | N/A |
| 6/30/2015 | 2,064 | 208 | N/A | 618 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 981's forecast earnings growth (25.3% per year) is above the savings rate (3%).
Earnings vs Market: 981's earnings (25.3% per year) are forecast to grow faster than the Hong Kong market (12.8% per year).
High Growth Earnings: 981's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: 981's revenue (13.2% per year) is forecast to grow faster than the Hong Kong market (8.9% per year).
High Growth Revenue: 981's revenue (13.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 981's Return on Equity is forecast to be low in 3 years time (6.6%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/24 13:38 |
| End of Day Share Price | 2026/06/24 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
Semiconductor Manufacturing International Corporation is covered by 49 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Lu | Barclays |
| Qingyuan Lin | Bernstein |
| Alex Q. Chan | BNP Paribas |