Using the time domain master equation for a complex electric-field pulse envelope, we find analytical results for the optical spectra of passively mode-locked semiconductor lasers. The analysis includes the effect of optical nonlinearity of semiconductor lasers, which is characterized by a slow saturable amplifier and absorber. Group velocity dispersion, bandwidth limiting, and self-phase modulation were considered as well. The FWHM of the spectrum profile was found to have a strong dependence on group velocity dispersion and self-phase modulation. For large absolute values of the chirp parameter, the optical spectra result in equispaced continuous wave frequencies, a large fraction of which have equal power.