HIMAX TECHNOLOGIES INC-ADR (HIMX) Stock Fundamental Analysis
USA - NASDAQ:HIMX - US43289P1066 - ADR
7.4 USD
+0.02 (+0.27%)
7.62 USD
+0.22 (+2.97%)
Taking everything into account, HIMX scores 4 out of 10 in our fundamental rating. HIMX was compared to 112 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 has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year HIMX was profitable.
In the past year HIMX had a positive cash flow from operations.
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
HIMX has a Return On Assets of 4.39%. This is in the better half of the industry: HIMX outperforms 68.75% of its industry peers.
HIMX's Return On Equity of 8.67% is fine compared to the rest of the industry. HIMX outperforms 69.64% of its industry peers.
HIMX has a Return On Invested Capital of 3.73%. This is comparable to the rest of the industry: HIMX outperforms 59.82% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for HIMX is below the industry average of 10.93%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.39% | ||
| ROE | 8.67% | ||
| ROIC | 3.73% |
ROA(3y)7.3%
ROA(5y)10.87%
ROE(3y)13.83%
ROE(5y)20.31%
ROIC(3y)6.99%
ROIC(5y)13.04%
1.3 Margins
With a decent Profit Margin value of 8.43%, HIMX is doing good in the industry, outperforming 66.96% of the companies in the same industry.
In the last couple of years the Profit Margin of HIMX has declined.
Looking at the Operating Margin, with a value of 7.52%, HIMX is in the better half of the industry, outperforming 61.61% of the companies in the same industry.
HIMX's Operating Margin has declined in the last couple of years.
The Gross Margin of HIMX (30.51%) is worse than 70.54% of its industry peers.
HIMX's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.52% | ||
| PM (TTM) | 8.43% | ||
| GM | 30.51% |
OM growth 3Y-40.29%
OM growth 5YN/A
PM growth 3Y-32.15%
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.
The number of shares outstanding for HIMX has been increased compared to 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 2.40. 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.
HIMX has a worse Altman-Z score (2.40) than 61.61% of its industry peers.
The Debt to FCF ratio of HIMX is 4.01, which is a neutral value as it means it would take HIMX, 4.01 years of fcf income to pay off all of its debts.
HIMX has a better Debt to FCF ratio (4.01) than 60.71% of its industry peers.
HIMX has a Debt/Equity ratio of 0.61. This is a neutral value indicating HIMX is somewhat dependend on debt financing.
HIMX has a Debt to Equity ratio of 0.61. This is in the lower half of the industry: HIMX underperforms 72.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 4.01 | ||
| Altman-Z | 2.4 |
ROIC/WACC0.4
WACC9.35%
2.3 Liquidity
A Current Ratio of 1.54 indicates that HIMX should not have too much problems paying its short term obligations.
HIMX has a Current ratio of 1.54. This is amonst the worse of the industry: HIMX underperforms 83.04% of its industry peers.
HIMX has a Quick Ratio of 1.37. This is a normal value and indicates that HIMX is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of HIMX (1.37) is worse than 76.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.54 | ||
| Quick Ratio | 1.37 |
3. Growth
3.1 Past
The earnings per share for HIMX have decreased strongly by -19.82% in the last year.
The earnings per share for HIMX have been decreasing by -44.43% on average. This is quite bad
Looking at the last year, HIMX shows a decrease in Revenue. The Revenue has decreased by -4.09% in the last year.
The Revenue has been growing slightly by 6.18% on average over the past years.
EPS 1Y (TTM)-19.82%
EPS 3Y-44.43%
EPS 5YN/A
EPS Q2Q%-86.49%
Revenue 1Y (TTM)-4.09%
Revenue growth 3Y-16.31%
Revenue growth 5Y6.18%
Sales Q2Q%-10.45%
3.2 Future
HIMX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.91% yearly.
HIMX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.03% yearly.
EPS Next Y-16.7%
EPS Next 2Y15.4%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue Next Year-16.68%
Revenue Next 2Y-1.42%
Revenue Next 3Y0.03%
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
With a Price/Earnings ratio of 20.56, HIMX is valued on the expensive side.
Based on the Price/Earnings ratio, HIMX is valued cheaper than 83.93% of the companies in the same industry.
HIMX is valuated rather cheaply when we compare the Price/Earnings ratio to 25.89, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 12.21, which indicates a correct valuation of HIMX.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HIMX indicates a rather cheap valuation: HIMX is cheaper than 96.43% of the companies listed in the same industry.
HIMX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 34.59.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.56 | ||
| Fwd PE | 12.21 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HIMX is valued cheaply inside the industry as 81.25% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, HIMX is valued cheaply inside the industry as 98.21% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.69 | ||
| EV/EBITDA | 14.42 |
4.3 Compensation for Growth
HIMX's earnings are expected to grow with 18.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y15.4%
EPS Next 3Y18.91%
5. Dividend
5.1 Amount
HIMX has a Yearly Dividend Yield of 4.88%, which is a nice return.
Compared to an average industry Dividend Yield of 2.17, HIMX pays a better dividend. On top of this HIMX pays more dividend than 97.32% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, HIMX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.88% |
5.2 History
HIMX has been paying a dividend for at least 10 years, so it has a reliable track record.
HIMX has decreased its dividend recently.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
68.59% of the earnings are spent on dividend by HIMX. This is not a sustainable payout ratio.
DP68.59%
EPS Next 2Y15.4%
EPS Next 3Y18.91%
7.4
+0.02 (+0.27%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners19.86%
Inst Owner Change2.72%
Ins Owners31.06%
Ins Owner ChangeN/A
Market Cap1.29B
Revenue(TTM)906.80M
Net Income(TTM)75.00M
Analysts83.64
Price Target9.5 (28.38%)
Short Float %6.36%
Short Ratio3.56
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.88% |
Yearly Dividend0.15
Dividend Growth(5Y)N/A
DP68.59%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.45%
Min EPS beat(2)-6.86%
Max EPS beat(2)11.76%
EPS beat(4)3
Avg EPS beat(4)46.24%
Min EPS beat(4)-6.86%
Max EPS beat(4)141.83%
EPS beat(8)7
Avg EPS beat(8)36.18%
EPS beat(12)10
Avg EPS beat(12)27.23%
EPS beat(16)11
Avg EPS beat(16)19.22%
Revenue beat(2)0
Avg Revenue beat(2)-0.89%
Min Revenue beat(2)-1.13%
Max Revenue beat(2)-0.65%
Revenue beat(4)2
Avg Revenue beat(4)2.57%
Min Revenue beat(4)-1.13%
Max Revenue beat(4)6.43%
Revenue beat(8)6
Avg Revenue beat(8)1.89%
Revenue beat(12)9
Avg Revenue beat(12)2.63%
Revenue beat(16)9
Avg Revenue beat(16)1.06%
PT rev (1m)0%
PT rev (3m)-6.34%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-38.46%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.87%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-13.49%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.44%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.56 | ||
| Fwd PE | 12.21 | ||
| P/S | 1.46 | ||
| P/FCF | 9.69 | ||
| P/OCF | 8.69 | ||
| P/B | 1.5 | ||
| P/tB | 1.55 | ||
| EV/EBITDA | 14.42 |
EPS(TTM)0.36
EY4.86%
EPS(NY)0.61
Fwd EY8.19%
FCF(TTM)0.76
FCFY10.32%
OCF(TTM)0.85
OCFY11.51%
SpS5.09
BVpS4.95
TBVpS4.78
PEG (NY)N/A
PEG (5Y)N/A
Graham Number6.33
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.39% | ||
| ROE | 8.67% | ||
| ROCE | 7.35% | ||
| ROIC | 3.73% | ||
| ROICexc | 3.81% | ||
| ROICexgc | 3.89% | ||
| OM | 7.52% | ||
| PM (TTM) | 8.43% | ||
| GM | 30.51% | ||
| FCFM | 15.01% |
ROA(3y)7.3%
ROA(5y)10.87%
ROE(3y)13.83%
ROE(5y)20.31%
ROIC(3y)6.99%
ROIC(5y)13.04%
ROICexc(3y)8.35%
ROICexc(5y)17.91%
ROICexgc(3y)8.56%
ROICexgc(5y)18.71%
ROCE(3y)12.48%
ROCE(5y)20.44%
ROICexgc growth 3Y-57%
ROICexgc growth 5YN/A
ROICexc growth 3Y-56.7%
ROICexc growth 5YN/A
OM growth 3Y-40.29%
OM growth 5YN/A
PM growth 3Y-32.15%
PM growth 5YN/A
GM growth 3Y-14.3%
GM growth 5Y8.21%
F-Score5
Asset Turnover0.52
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 4.01 | ||
| Debt/EBITDA | 6.04 | ||
| Cap/Depr | 73.52% | ||
| Cap/Sales | 1.74% | ||
| Interest Coverage | 17.41 | ||
| Cash Conversion | 169.59% | ||
| Profit Quality | 178.08% | ||
| Current Ratio | 1.54 | ||
| Quick Ratio | 1.37 | ||
| Altman-Z | 2.4 |
F-Score5
WACC9.35%
ROIC/WACC0.4
Cap/Depr(3y)76.97%
Cap/Depr(5y)58.69%
Cap/Sales(3y)1.62%
Cap/Sales(5y)1.21%
Profit Quality(3y)137.84%
Profit Quality(5y)141.18%
High Growth Momentum
Growth
EPS 1Y (TTM)-19.82%
EPS 3Y-44.43%
EPS 5YN/A
EPS Q2Q%-86.49%
EPS Next Y-16.7%
EPS Next 2Y15.4%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.09%
Revenue growth 3Y-16.31%
Revenue growth 5Y6.18%
Sales Q2Q%-10.45%
Revenue Next Year-16.68%
Revenue Next 2Y-1.42%
Revenue Next 3Y0.03%
Revenue Next 5YN/A
EBIT growth 1Y0.09%
EBIT growth 3Y-50.03%
EBIT growth 5YN/A
EBIT Next Year-37.76%
EBIT Next 3Y-0.84%
EBIT Next 5YN/A
FCF growth 1Y128.7%
FCF growth 3Y-35.3%
FCF growth 5YN/A
OCF growth 1Y113.16%
OCF growth 3Y-33.15%
OCF growth 5Y72.03%
HIMAX TECHNOLOGIES INC-ADR / HIMX FAQ
What is the ChartMill fundamental rating of HIMAX TECHNOLOGIES INC-ADR (HIMX) stock?
ChartMill assigns a fundamental rating of 4 / 10 to HIMX.
What is the valuation status of HIMAX TECHNOLOGIES INC-ADR (HIMX) stock?
ChartMill assigns a valuation rating of 6 / 10 to HIMAX TECHNOLOGIES INC-ADR (HIMX). This can be considered as Fairly Valued.
What is the profitability of HIMX stock?
HIMAX TECHNOLOGIES INC-ADR (HIMX) has a profitability rating of 5 / 10.
Can you provide the PE and PB ratios for HIMX stock?
The Price/Earnings (PE) ratio for HIMAX TECHNOLOGIES INC-ADR (HIMX) is 20.56 and the Price/Book (PB) ratio is 1.5.
What is the expected EPS growth for HIMAX TECHNOLOGIES INC-ADR (HIMX) stock?
The Earnings per Share (EPS) of HIMAX TECHNOLOGIES INC-ADR (HIMX) is expected to decline by -16.7% in the next year.