Semiconductor Manufacturing International (SHSE:688981) EBIT: ¥9,646 Mil (TTM As of Mar. 2026)


SHSE:688981 Semiconductor Manufacturing International Corp SHSE:688981
77 GF Score
Price ¥148.76
GF Value ¥70.03
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Semiconductor Manufacturing International EBIT?

Semiconductor Manufacturing International SHSE:688981 -5.16% 77 EBIT is ¥9,646 Mil as of Mar. 2026. GuruFocus rates SHSE:688981 with a GF Score™ of 77/100 and a GF Value™ of ¥70.03 (Significantly Overvalued). The stock has 6 warning signs investors should review.

Semiconductor Manufacturing International's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ¥2,392 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ¥9,646 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Semiconductor Manufacturing International's annualized ROC % for the quarter that ended in Mar. 2026 was 2.13%. Semiconductor Manufacturing International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.03%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Semiconductor Manufacturing International's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1.01%.

Semiconductor Manufacturing International  (SHSE:688981) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Semiconductor Manufacturing International's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=6821 * ( 1 - 9.56% )/( (284995.34 + 294039.433)/ 2 )
=6168.9124/289517.3865
=2.13 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=368157.276 - 21125.677 - ( 73277.15 - max(0, 48013.945 - 110050.204+73277.15))
=284995.34

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=378885.644 - 21104.389 - ( 84693.764 - max(0, 59020.305 - 122762.127+84693.764))
=294039.433

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Semiconductor Manufacturing International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=9566.76/( ( (229368.196 + max(6594.415, 0)) + (230248.134 + max(8753.995, 0)) )/ 2 )
=9566.76/( ( 235962.611 + 239002.129 )/ 2 )
=9566.76/237482.37
=4.03 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6175.196 + 25565.421 + 4551.408) - (21125.677 + 0 + 8571.933)
=6594.415

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(10313.835 + 27023.897 + 730.63099999999) - (21104.389 + 0 + 8209.979)
=8753.995

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Semiconductor Manufacturing International's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=9645.739/958287.144
=1.01 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Semiconductor Manufacturing International EBIT Related Terms

Semiconductor Manufacturing International EBIT Historical Data

* Premium members only.

The historical data trend for Semiconductor Manufacturing International's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Semiconductor Manufacturing International EBIT Chart

Semiconductor Manufacturing International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12,423.11 16,311.60 9,973.95 8,421.36 10,187.06

Semiconductor Manufacturing International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3,090.12 1,799.18 3,094.44 2,360.43 2,391.69

SHSE:688981 vs NVDA, AVGO, MU: EBIT Comparison

For the Semiconductors subindustry, Semiconductor Manufacturing International's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Semiconductor Manufacturing International EV-to-EBIT vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Semiconductor Manufacturing International's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Semiconductor Manufacturing International's EV-to-EBIT falls into.


SHSE:688981
77GF Score
Semiconductor Manufacturing International Corp SHSE:688981
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Semiconductor Manufacturing International EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥9,646 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ¥9,646 Mil mean?
Semiconductor Manufacturing International (SHSE:688981) has a EBIT of ¥9,646 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Semiconductor Manufacturing International.
Is Semiconductor Manufacturing International's EBIT too high?
Semiconductor Manufacturing International's current EBIT is ¥9,646 Mil. Overall, Semiconductor Manufacturing International has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Semiconductor Manufacturing International's EBIT compare to NVDA and AVGO?
Semiconductor Manufacturing International's EBIT of ¥9,646 Mil can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Semiconductors company?
A good EBIT depends on the Semiconductors industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Semiconductor Manufacturing International. Semiconductor Manufacturing International's current EBIT is ¥9,646 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Semiconductor Manufacturing International stock overvalued right now?
Based on GuruFocus' analysis, Semiconductor Manufacturing International (SHSE:688981) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥70.03, compared to a current price of ¥148.76 — trading 112.4% above its estimated fair value. The current EBIT is ¥9,646 Mil. Semiconductor Manufacturing International's overall GF Score™ is 77/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Semiconductor Manufacturing International (SHSE:688981), the current EBIT is ¥9,646 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Semiconductor Manufacturing International (SHSE:688981) Overvalued in 2026?

Based on GuruFocus' analysis, Semiconductor Manufacturing International stock appears to be overvalued. The current stock price of ¥148.76 is trading 112.4% above its estimated GF Value™ of ¥70.03. GuruFocus considers Semiconductor Manufacturing International to be Significantly Overvalued.

Key valuation signals for SHSE:688981:

  • EBIT: ¥9,646 Mil
  • GF Value™: ¥70.03 vs. price of ¥148.76 (112.4% above fair value)
  • GF Score™: 77/100 with 6 warning signs

No single metric tells the full story. See the SHSE:688981 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Semiconductor Manufacturing International Business Description

Address No. 18 Zhangjiang Road, Pudong New Area, Shanghai, CHN, 201203
Founded in 2000, Semiconductor Manufacturing International Corporation is the largest foundry in China and the third-largest globally after TSMC and Samsung Electronics, overtaking GlobalFoundries and United Microelectronics in 2024. The company's headquarters and foundry are in Shanghai, with additional foundries in Beijing, Tianjin, and Shenzhen, and offices in the United States, Europe, Japan, Taiwan, and Hong Kong. Its products are used in artificial intelligence, data centers, automotive, consumer electronics, memory, and "Internet of Things" products. SMIC employs 19,952 people as of Dec. 31, 2025.
77GF Score

Get the complete analysis for SHSE:688981

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥148.76
Price
¥70.03
GF Value