A simple model for predicting tensile strength of a sheet molding compound (SMC) composite was proposed. The tensile strength associated with two failure modes, delamination and splitting, was derived based on fracture mechanics. The predicted strength was compared with experimental results. It was proved that the both failure modes provide the critical strength in the present SMC composite. The dependence of specimen width was explained by the theoretical strength for the splitting mode. In addition, it is suggested that smaller size of strands that determine the size of initial damages gives larger tensile strength.