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SQM

Sociedad Química y Minera de Chile S.A.

SQM

Sociedad Química y Minera de Chile S.A. • NYSE
$64.32 ▲ 1.77% (+1.12)
Market Cap $18.37 B
52w High $65.65
52w Low $29.36
Dividend Yield 2.10%
P/E -35.15
Volume 949.53K
Outstanding Shares 285.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.173B ▲ $56.498M ▼ $178.418M ▲ 15.21% ▲ $0.62 ▲ $308.063M ▲
Q2-2025 $1.043B ▲ $87.385M ▲ $88.422M ▼ 8.48% ▼ $0.31 ▼ $191.754M ▼
Q1-2025 $1.037B ▼ $59.749M ▼ $137.528M ▲ 13.267% ▲ $0.48 ▲ $259.081M ▲
Q4-2024 $1.074B ▼ $83.333M ▲ $120.13M ▼ 11.188% ▼ $0.42 ▼ $246.446M ▲
Q3-2024 $1.077B $53.001M $131.428M 12.205% $0.46 $240.162M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.386B ▲ $11.726B ▲ $6.194B ▲ $5.492B ▲
Q2-2025 $2.231B ▼ $11.524B ▲ $6.13B ▼ $5.354B ▲
Q1-2025 $2.354B ▼ $11.487B ▼ $6.195B ▼ $5.254B ▲
Q4-2024 $2.439B ▼ $11.496B ▲ $6.298B ▲ $5.161B ▲
Q3-2024 $2.553B $11.291B $6.168B $5.084B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 $431.772M ▲ $-478.695M ▼ $-13.934M ▼ $-74.405M ▲ $187.856M ▲
Q2-2025 $0 $108.391M ▼ $-184.109M ▼ $-6.794M ▲ $-90.503M ▼ $-104.895M ▼
Q1-2025 $0 ▼ $215.895M ▼ $181.114M ▲ $-118.784M ▼ $278.238M ▲ $38.12M ▲
Q4-2024 $120.13M ▼ $298.042M ▲ $-463.972M ▼ $-20.501M ▼ $-187.514M ▼ $-55.431M ▼
Q3-2024 $131.428M $267.311M $-70.388M $335.273M $532.299M $46.805M

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have swung dramatically over the past few years. The company went from a normal-sized business in 2020–2021 to an exceptional profit peak during the lithium boom in 2022, and then saw a steep step‑down in 2023 and again in 2024. Sales are still well above pre‑boom levels, but margins have compressed sharply from their 2022 highs. Operating profit remains positive, which suggests the core business is still sound, but net income turned into a loss in 2024, likely reflecting lower lithium prices combined with higher costs, taxes, or one‑off charges. Overall, results show a classic boom‑and‑cool‑down pattern in a very cyclical, price‑driven business.

Balance Sheet

Balance Sheet The balance sheet has grown meaningfully as the company invested in expansion, with total assets more than doubling compared with a few years ago. Cash levels are healthy in absolute terms but no longer as strong as at the peak, reflecting both investment spending and a more normal earnings environment. Debt has increased and now represents a sizable share of the capital structure, while equity has also risen on the back of earlier strong profits. Financially, SQM looks solid but more leveraged and more dependent on stable cash generation than it was before the lithium boom.

Cash Flow

Cash Flow Cash generation has been highly volatile. During the peak lithium pricing period, operating cash flow was very strong and easily covered investment needs. As conditions normalized, operating cash flow turned weak and even dipped negative in 2023, before recovering to a more modest positive level in 2024. At the same time, capital spending has stayed elevated as the company continues to build out capacity and projects, which has squeezed free cash flow. In short, the business can generate substantial cash in good markets, but recent years show that cash flow can swing quickly when prices and working capital move against it.

Competitive Edge

Competitive Edge SQM holds a strong strategic position, anchored by access to one of the best lithium and nitrate resources in the world at the Salar de Atacama. Its cost base is structurally low thanks to high‑grade deposits and efficient solar evaporation, and it benefits from a broad product mix across lithium, specialty fertilizers, iodine, and industrial chemicals. A long‑standing global sales network and deep customer relationships add further strength. Against this, the company faces meaningful risks: heavy exposure to lithium price cycles, rising competition from new producers (including in China), regulatory and political uncertainty in Chile, and growing environmental and water‑use scrutiny. The new joint venture structure with Codelco may help secure long‑term access but also adds complexity and potential shifts in economics.

Innovation and R&D

Innovation and R&D Innovation is a clear focus. SQM has refined proprietary extraction processes and is actively testing direct lithium extraction technologies that could cut water use and improve recovery rates. It continues to develop higher‑value lithium products for batteries, specialized fertilizers tailored to crops and soils, and high‑purity iodine for demanding industrial and medical uses. The company has set ambitious sustainability targets around water, emissions, and process modernization, including its “Salar Futuro” program, and is using partnerships and joint ventures to access new technologies and resources. Execution risk is real, but if successful, these efforts could support both lower costs and a stronger environmental profile over time.

Summary

SQM today reflects both the power and the risk of being tied to a major commodities up‑cycle. The company used an exceptional lithium boom to scale up, strengthen its equity base, and invest aggressively, but its income statement and cash flows now show the impact of a sharp normalization in prices and margins. The balance sheet is larger and more leveraged, cash flow is more variable, and future performance is likely to remain closely tied to lithium and fertilizer markets. At the same time, SQM’s resource base, cost position, diversification, and innovation pipeline provide meaningful structural advantages. The key uncertainties ahead are commodity price paths, regulatory and political developments in Chile, environmental constraints, and the company’s ability to execute complex expansion and technology projects without eroding its cost edge or balance sheet resilience.

NEWS

October 22, 2025 · 8:30 AM UTC

Rain City Resources Inc. Named Main Sponsor of Chile's Third Lithium & Energy Summit 2025 Alongside SQM and Albermale

Read more