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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
SHSE:688981's Price-to-Projected-FCF is not ranked *
in the Semiconductors industry.
Industry Median: 2.67 * Ranked among companies with meaningful Price-to-Projected-FCF only.
Semiconductor Manufacturing International (SHSE:688981) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Semiconductor Manufacturing International's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
129.19
/
-21.464076770964
=
* 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 Intrinsic Value: Projected FCF Related Terms
Semiconductor Manufacturing International Intrinsic Value: Projected FCF Historical Data
* 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 Intrinsic Value: Projected FCF Chart
Semiconductor Manufacturing International Annual Data
SHSE:688981 vs NVDA, AVGO, MU: Intrinsic Value: Projected FCF Comparison
For the Semiconductors subindustry, Semiconductor Manufacturing International's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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 Price-to-Projected-FCF vs Semiconductors Industry
Semiconductor Manufacturing International Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of ¥-36.55 mean?
Semiconductor Manufacturing International (SHSE:688981) has a Intrinsic Value: Projected FCF of ¥-36.55 as of Aug. 31, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Semiconductor Manufacturing International and its competitors. According to the industry distribution chart, Semiconductor Manufacturing International ranks #999999 out of 597 companies in the Semiconductors industry.
Is Semiconductor Manufacturing International's Intrinsic Value: Projected FCF too high?
Semiconductor Manufacturing International's current Intrinsic Value: Projected FCF is ¥-36.55. Based on the distribution chart, Semiconductor Manufacturing International ranks #999999 out of 597 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Semiconductor Manufacturing International has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Semiconductor Manufacturing International's Intrinsic Value: Projected FCF compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Semiconductor Manufacturing International ranks #999999 out of 597 companies for Intrinsic Value: Projected FCF. This places Semiconductor Manufacturing International in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 2.67. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Semiconductors company?
The median Intrinsic Value: Projected FCF among Semiconductors companies is 2.67, based on 597 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF 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 Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Semiconductor Manufacturing International and its competitors. For the Semiconductors industry, the median Intrinsic Value: Projected FCF is 2.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Semiconductor Manufacturing International's current Intrinsic Value: Projected FCF is ¥-36.55. 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 ¥92.89, compared to a current price of ¥129.19 — trading 39.1% above its estimated fair value. The current Intrinsic Value: Projected FCF is ¥-36.55. Semiconductor Manufacturing International's overall GF Score™ is 81/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Semiconductor Manufacturing International (SHSE:688981), the current Intrinsic Value: Projected FCF is ¥-36.55 as of Aug. 31, 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 ¥129.19 is trading 39.1% above its estimated GF Value™ of ¥92.89.
GuruFocus considers Semiconductor Manufacturing International to be Significantly Overvalued.
Key valuation signals for SHSE:688981:
Intrinsic Value: Projected FCF: ¥-36.55
GF Value™: ¥92.89 vs. price of ¥129.19 (39.1% above fair value)
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.
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.
81GF Score
Get the complete analysis for SHSE:688981
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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