HIMAX TECHNOLOGIES INC-ADR (HIMX) Stock Fundamental Analysis
NASDAQ:HIMX - Nasdaq - US43289P1066 - ADR - Currency: USD
Taking everything into account, HIMX scores 4 out of 10 in our fundamental rating. HIMX was compared to 110 industry peers in the Semiconductors & Semiconductor Equipment industry. HIMX has a medium profitability rating, but doesn't score so well on its financial health evaluation. HIMX is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year HIMX was profitable.
HIMX had a positive operating cash flow in the past year.
HIMX had positive earnings in each of the past 5 years.
In the past 5 years HIMX always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of HIMX (5.33%) is better than 68.18% of its industry peers.
With a decent Return On Equity value of 9.59%, HIMX is doing good in the industry, outperforming 67.27% of the companies in the same industry.
HIMX has a Return On Invested Capital of 4.23%. This is comparable to the rest of the industry: HIMX outperforms 60.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for HIMX is below the industry average of 10.58%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.33% | ||
| ROE | 9.59% | ||
| ROIC | 4.23% |
ROA(3y)7.29%
ROA(5y)10.86%
ROE(3y)13.81%
ROE(5y)20.29%
ROIC(3y)7%
ROIC(5y)13.05%
1.3 Margins
HIMX has a better Profit Margin (9.54%) than 64.55% of its industry peers.
HIMX's Profit Margin has declined in the last couple of years.
HIMX has a Operating Margin (8.53%) which is in line with its industry peers.
In the last couple of years the Operating Margin of HIMX has declined.
The Gross Margin of HIMX (30.73%) is worse than 70.91% of its industry peers.
HIMX's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.53% | ||
| PM (TTM) | 9.54% | ||
| GM | 30.73% |
OM growth 3Y-40.23%
OM growth 5YN/A
PM growth 3Y-32.22%
PM growth 5YN/A
GM growth 3Y-14.3%
GM growth 5Y8.21%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), HIMX is destroying value.
HIMX has about the same amout of shares outstanding than it did 1 year ago.
HIMX has more shares outstanding than it did 5 years ago.
HIMX has a worse debt/assets ratio than last year.
2.2 Solvency
HIMX has an Altman-Z score of 2.95. This is not the best score and indicates that HIMX is in the grey zone with still only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.95, HIMX perfoms like the industry average, outperforming 46.36% of the companies in the same industry.
HIMX has a debt to FCF ratio of 5.39. This is a neutral value as HIMX would need 5.39 years to pay back of all of its debts.
The Debt to FCF ratio of HIMX (5.39) is comparable to the rest of the industry.
HIMX has a Debt/Equity ratio of 0.58. This is a neutral value indicating HIMX is somewhat dependend on debt financing.
HIMX has a worse Debt to Equity ratio (0.58) than 74.55% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 5.39 | ||
| Altman-Z | 2.95 |
ROIC/WACC0.48
WACC8.91%
2.3 Liquidity
A Current Ratio of 1.71 indicates that HIMX should not have too much problems paying its short term obligations.
With a Current ratio value of 1.71, HIMX is not doing good in the industry: 80.91% of the companies in the same industry are doing better.
A Quick Ratio of 1.52 indicates that HIMX should not have too much problems paying its short term obligations.
HIMX has a worse Quick ratio (1.52) than 70.91% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.71 | ||
| Quick Ratio | 1.52 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 81.09% over the past year.
The earnings per share for HIMX have been decreasing by -44.43% on average. This is quite bad
The Revenue has been growing slightly by 0.62% in the past year.
Measured over the past years, HIMX shows a small growth in Revenue. The Revenue has been growing by 6.18% on average per year.
EPS 1Y (TTM)81.09%
EPS 3Y-44.43%
EPS 5YN/A
EPS Q2Q%60.56%
Revenue 1Y (TTM)0.62%
Revenue growth 3Y-16.31%
Revenue growth 5Y6.18%
Sales Q2Q%3.65%
3.2 Future
Based on estimates for the next years, HIMX will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.08% on average per year.
Based on estimates for the next years, HIMX will show a decrease in Revenue. The Revenue will decrease by -1.43% on average per year.
EPS Next Y-9.58%
EPS Next 2Y8.66%
EPS Next 3Y13.08%
EPS Next 5YN/A
Revenue Next Year-17.62%
Revenue Next 2Y-6.05%
Revenue Next 3Y-1.43%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 17.86, which indicates a rather expensive current valuation of HIMX.
Compared to the rest of the industry, the Price/Earnings ratio of HIMX indicates a rather cheap valuation: HIMX is cheaper than 80.91% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.21. HIMX is valued slightly cheaper when compared to this.
HIMX is valuated correctly with a Price/Forward Earnings ratio of 16.62.
Based on the Price/Forward Earnings ratio, HIMX is valued a bit cheaper than 78.18% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of HIMX to the average of the S&P500 Index (21.70), we can say HIMX is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.86 | ||
| Fwd PE | 16.62 |
4.2 Price Multiples
78.18% of the companies in the same industry are more expensive than HIMX, based on the Enterprise Value to EBITDA ratio.
89.09% of the companies in the same industry are more expensive than HIMX, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.68 | ||
| EV/EBITDA | 13.08 |
4.3 Compensation for Growth
HIMX's earnings are expected to grow with 13.08% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y8.66%
EPS Next 3Y13.08%
5. Dividend
5.1 Amount
HIMX has a Yearly Dividend Yield of 3.82%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.28, HIMX pays a better dividend. On top of this HIMX pays more dividend than 96.36% of the companies listed in the same industry.
HIMX's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.82% |
5.2 History
HIMX has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of HIMX decreased recently.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
58.35% of the earnings are spent on dividend by HIMX. This is a bit on the high side, but may be sustainable.
DP58.35%
EPS Next 2Y8.66%
EPS Next 3Y13.08%
8.93
0 (0%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners19.71%
Inst Owner Change-4.46%
Ins Owners30.96%
Ins Owner ChangeN/A
Market Cap1.56B
Analysts83.64
Price Target10.14 (13.55%)
Short Float %10.91%
Short Ratio5.19
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.82% |
Yearly Dividend0.15
Dividend Growth(5Y)N/A
DP58.35%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)25%
Min EPS beat(2)11.76%
Max EPS beat(2)38.24%
EPS beat(4)4
Avg EPS beat(4)50.57%
Min EPS beat(4)10.46%
Max EPS beat(4)141.83%
EPS beat(8)7
Avg EPS beat(8)36.8%
EPS beat(12)10
Avg EPS beat(12)26.41%
EPS beat(16)12
Avg EPS beat(16)21.78%
Revenue beat(2)1
Avg Revenue beat(2)2.49%
Min Revenue beat(2)-0.65%
Max Revenue beat(2)5.63%
Revenue beat(4)3
Avg Revenue beat(4)3.46%
Min Revenue beat(4)-0.65%
Max Revenue beat(4)6.43%
Revenue beat(8)6
Avg Revenue beat(8)1.76%
Revenue beat(12)9
Avg Revenue beat(12)2.18%
Revenue beat(16)10
Avg Revenue beat(16)1.78%
PT rev (1m)-11.45%
PT rev (3m)-11.45%
EPS NQ rev (1m)0%
EPS NQ rev (3m)11.11%
EPS NY rev (1m)-12.95%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.48%
Revenue NY rev (1m)-4.92%
Revenue NY rev (3m)-8.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.86 | ||
| Fwd PE | 16.62 | ||
| P/S | 1.71 | ||
| P/FCF | 15.68 | ||
| P/OCF | 13.55 | ||
| P/B | 1.72 | ||
| P/tB | 1.77 | ||
| EV/EBITDA | 13.08 |
EPS(TTM)0.5
EY5.6%
EPS(NY)0.54
Fwd EY6.02%
FCF(TTM)0.57
FCFY6.38%
OCF(TTM)0.66
OCFY7.38%
SpS5.23
BVpS5.2
TBVpS5.04
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.33% | ||
| ROE | 9.59% | ||
| ROCE | 8.2% | ||
| ROIC | 4.23% | ||
| ROICexc | 5.25% | ||
| ROICexgc | 5.38% | ||
| OM | 8.53% | ||
| PM (TTM) | 9.54% | ||
| GM | 30.73% | ||
| FCFM | 10.89% |
ROA(3y)7.29%
ROA(5y)10.86%
ROE(3y)13.81%
ROE(5y)20.29%
ROIC(3y)7%
ROIC(5y)13.05%
ROICexc(3y)8.36%
ROICexc(5y)17.92%
ROICexgc(3y)8.57%
ROICexgc(5y)18.72%
ROCE(3y)12.5%
ROCE(5y)20.45%
ROICexcg growth 3Y-56.95%
ROICexcg growth 5YN/A
ROICexc growth 3Y-56.65%
ROICexc growth 5YN/A
OM growth 3Y-40.23%
OM growth 5YN/A
PM growth 3Y-32.22%
PM growth 5YN/A
GM growth 3Y-14.3%
GM growth 5Y8.21%
F-Score8
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 5.39 | ||
| Debt/EBITDA | 5.31 | ||
| Cap/Depr | 71.07% | ||
| Cap/Sales | 1.71% | ||
| Interest Coverage | 19.93 | ||
| Cash Conversion | 115.23% | ||
| Profit Quality | 114.18% | ||
| Current Ratio | 1.71 | ||
| Quick Ratio | 1.52 | ||
| Altman-Z | 2.95 |
F-Score8
WACC8.91%
ROIC/WACC0.48
Cap/Depr(3y)77.16%
Cap/Depr(5y)58.81%
Cap/Sales(3y)1.65%
Cap/Sales(5y)1.23%
Profit Quality(3y)138.09%
Profit Quality(5y)141.33%
High Growth Momentum
Growth
EPS 1Y (TTM)81.09%
EPS 3Y-44.43%
EPS 5YN/A
EPS Q2Q%60.56%
EPS Next Y-9.58%
EPS Next 2Y8.66%
EPS Next 3Y13.08%
EPS Next 5YN/A
Revenue 1Y (TTM)0.62%
Revenue growth 3Y-16.31%
Revenue growth 5Y6.18%
Sales Q2Q%3.65%
Revenue Next Year-17.62%
Revenue Next 2Y-6.05%
Revenue Next 3Y-1.43%
Revenue Next 5YN/A
EBIT growth 1Y118.48%
EBIT growth 3Y-49.98%
EBIT growth 5YN/A
EBIT Next Year-44.59%
EBIT Next 3Y-0.84%
EBIT Next 5YN/A
FCF growth 1Y50.7%
FCF growth 3Y-35.35%
FCF growth 5YN/A
OCF growth 1Y49.13%
OCF growth 3Y-33.16%
OCF growth 5Y72.02%