HIMAX TECHNOLOGIES INC-ADR (HIMX) Stock Fundamental Analysis
USA - NASDAQ:HIMX - US43289P1066 - ADR
7.18 USD
+0.25 (+3.61%)
7.29 USD
+0.11 (+1.53%)
Overall HIMX gets a fundamental rating of 4 out of 10. We evaluated HIMX against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. There are concerns on the financial health of HIMX while its profitability can be described as average. HIMX is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
HIMX had positive earnings in the past year.
In the past year HIMX had a positive cash flow from operations.
HIMX had positive earnings in each of the past 5 years.
Each year in the past 5 years HIMX had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 4.39%, HIMX is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
HIMX has a Return On Equity of 8.67%. This is in the better half of the industry: HIMX outperforms 69.64% of its industry peers.
HIMX's Return On Invested Capital of 3.73% is in line compared to the rest of the industry. HIMX outperforms 59.82% of its industry peers.
HIMX had an Average Return On Invested Capital over the past 3 years of 6.99%. This is below the industry average of 10.84%.
| 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.
HIMX's Profit Margin has declined in the last couple of years.
HIMX has a Operating Margin of 7.52%. This is in the better half of the industry: HIMX outperforms 61.61% of its industry peers.
HIMX's Operating Margin has declined in the last couple of years.
HIMX has a worse Gross Margin (30.51%) than 70.54% of its industry peers.
In the last couple of years the Gross Margin of HIMX has grown nicely.
| 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
HIMX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for HIMX has been increased compared to 1 year ago.
The number of shares outstanding for HIMX has been increased compared to 5 years ago.
HIMX has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.34 indicates that HIMX is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.34, HIMX is in line with its industry, outperforming 40.18% of the companies in the same industry.
HIMX has a debt to FCF ratio of 4.01. This is a neutral value as HIMX would need 4.01 years to pay back of all of its debts.
HIMX's Debt to FCF ratio of 4.01 is fine compared to the rest of the industry. HIMX outperforms 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.
Looking at the Debt to Equity ratio, with a value of 0.61, HIMX is doing worse than 72.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 4.01 | ||
| Altman-Z | 2.34 |
ROIC/WACC0.41
WACC9.21%
2.3 Liquidity
HIMX has a Current Ratio of 1.54. This is a normal value and indicates that HIMX is financially healthy and should not expect problems in meeting its short term obligations.
HIMX's Current ratio of 1.54 is on the low side compared to the rest of the industry. HIMX is outperformed by 83.04% of its industry peers.
A Quick Ratio of 1.37 indicates that HIMX should not have too much problems paying its short term obligations.
HIMX's Quick ratio of 1.37 is on the low side compared to the rest of the industry. HIMX is outperformed by 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
Based on estimates for the next years, HIMX will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.91% on average per year.
Based on estimates for the next years, HIMX will show a small growth in Revenue. The Revenue will grow by 0.03% on average per year.
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
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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
A Price/Earnings ratio of 19.94 indicates a rather expensive valuation of HIMX.
83.93% of the companies in the same industry are more expensive than HIMX, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 25.45, HIMX is valued a bit cheaper.
With a Price/Forward Earnings ratio of 11.85, the valuation of HIMX can be described as very reasonable.
94.64% of the companies in the same industry are more expensive than HIMX, based on the Price/Forward Earnings ratio.
HIMX is valuated cheaply when we compare the Price/Forward Earnings ratio to 34.46, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.94 | ||
| Fwd PE | 11.85 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HIMX is valued cheaply inside the industry as 80.36% of the companies are valued more expensively.
98.21% 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 | 9.4 | ||
| EV/EBITDA | 13.52 |
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
With a Yearly Dividend Yield of 4.88%, HIMX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.22, 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 2.45, HIMX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.88% |
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
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%
7.18
+0.25 (+3.61%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners19.86%
Inst Owner Change0.84%
Ins Owners31.06%
Ins Owner ChangeN/A
Market Cap1.26B
Revenue(TTM)906.80M
Net Income(TTM)75.00M
Analysts83.64
Price Target9.5 (32.31%)
Short Float %5.83%
Short Ratio3.39
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)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.87%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.44%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.94 | ||
| Fwd PE | 11.85 | ||
| P/S | 1.41 | ||
| P/FCF | 9.4 | ||
| P/OCF | 8.43 | ||
| P/B | 1.45 | ||
| P/tB | 1.5 | ||
| EV/EBITDA | 13.52 |
EPS(TTM)0.36
EY5.01%
EPS(NY)0.61
Fwd EY8.44%
FCF(TTM)0.76
FCFY10.63%
OCF(TTM)0.85
OCFY11.86%
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 | 2.34 |
F-Score5
WACC9.21%
ROIC/WACC0.41
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 19.94 and the Price/Book (PB) ratio is 1.45.
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.