HIMAX TECHNOLOGIES INC-ADR (HIMX) Stock Fundamental Analysis
USA - NASDAQ:HIMX - US43289P1066 - ADR
8.78 USD
+0.34 (+4.03%)
8.77 USD
-0.01 (-0.11%)
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. While HIMX is still in line with the averages on profitability rating, there are concerns on its financial health. HIMX has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year HIMX was profitable.
HIMX had a positive operating cash flow in the past year.
In the past 5 years HIMX has always been profitable.
In the past 5 years HIMX always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 4.34%, HIMX is doing good in the industry, outperforming 67.86% of the companies in the same industry.
With a decent Return On Equity value of 8.57%, HIMX is doing good in the industry, outperforming 69.64% of the companies in the same industry.
The Return On Invested Capital of HIMX (3.73%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for HIMX is below the industry average of 10.87%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.34% | ||
| ROE | 8.57% | ||
| ROIC | 3.73% |
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 Profit Margin of 8.33%. This is in the better half of the industry: HIMX outperforms 66.07% of its industry peers.
In the last couple of years the Profit Margin of HIMX has declined.
HIMX has a better Operating Margin (7.52%) than 62.50% of its industry peers.
HIMX's Operating Margin has declined in the last couple of years.
The Gross Margin of HIMX (30.51%) is worse than 68.75% 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) | 8.33% | ||
| GM | 30.51% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HIMX is destroying value.
Compared to 1 year ago, HIMX has about the same amount of shares outstanding.
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 2.53 indicates that HIMX is not a great score, but indicates only limited risk for bankruptcy at the moment.
HIMX has a Altman-Z score (2.53) which is in line with its industry peers.
HIMX has a debt to FCF ratio of 4.04. This is a neutral value as HIMX would need 4.04 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 4.04, HIMX is in line with its industry, outperforming 58.93% of the companies in the same industry.
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 74.11% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 4.04 | ||
| Altman-Z | 2.53 |
ROIC/WACC0.37
WACC10.08%
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 83.93% 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 77.68% 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 by -3.42% in the last year.
The earnings per share for HIMX have been decreasing by -44.43% on average. This is quite bad
The Revenue has decreased by -2.61% 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)-3.42%
EPS 3Y-44.43%
EPS 5YN/A
EPS Q2Q%-43.79%
Revenue 1Y (TTM)-2.61%
Revenue growth 3Y-16.31%
Revenue growth 5Y6.18%
Sales Q2Q%-10.36%
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 13.08% yearly.
The Revenue is expected to grow by 0.03% on average over the next years.
EPS Next Y-8.18%
EPS Next 2Y11.96%
EPS Next 3Y13.08%
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
HIMX is valuated rather expensively with a Price/Earnings ratio of 20.90.
Based on the Price/Earnings ratio, HIMX is valued cheaper than 82.14% of the companies in the same industry.
HIMX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.41.
Based on the Price/Forward Earnings ratio of 15.39, the valuation of HIMX can be described as correct.
90.18% of the companies in the same industry are more expensive than HIMX, based on the Price/Forward Earnings ratio.
HIMX is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.88, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.9 | ||
| Fwd PE | 15.39 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HIMX is valued a bit cheaper than the industry average as 76.79% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, HIMX is valued cheaper than 97.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.56 | ||
| EV/EBITDA | 16.38 |
4.3 Compensation for Growth
A more expensive valuation may be justified as HIMX's earnings are expected to grow with 13.08% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y11.96%
EPS Next 3Y13.08%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.32%, HIMX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.31, HIMX pays a better dividend. On top of this HIMX pays more dividend than 96.43% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, HIMX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.32% |
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
69.26% of the earnings are spent on dividend by HIMX. This is not a sustainable payout ratio.
DP69.26%
EPS Next 2Y11.96%
EPS Next 3Y13.08%
8.78
+0.34 (+4.03%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners20.65%
Inst Owner Change-0.59%
Ins Owners30.96%
Ins Owner ChangeN/A
Market Cap1.54B
Analysts83.64
Price Target9.5 (8.2%)
Short Float %9.84%
Short Ratio5.39
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.32% |
Yearly Dividend0.15
Dividend Growth(5Y)N/A
DP69.26%
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)-6.34%
PT rev (3m)-6.34%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-38.46%
EPS NY rev (1m)-8.37%
EPS NY rev (3m)-11.6%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-13.49%
Revenue NY rev (1m)-4.44%
Revenue NY rev (3m)1.14%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.9 | ||
| Fwd PE | 15.39 | ||
| P/S | 1.73 | ||
| P/FCF | 11.56 | ||
| P/OCF | 10.34 | ||
| P/B | 1.78 | ||
| P/tB | 1.84 | ||
| EV/EBITDA | 16.38 |
EPS(TTM)0.42
EY4.78%
EPS(NY)0.57
Fwd EY6.5%
FCF(TTM)0.76
FCFY8.65%
OCF(TTM)0.85
OCFY9.67%
SpS5.09
BVpS4.94
TBVpS4.78
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.34% | ||
| ROE | 8.57% | ||
| ROCE | 7.35% | ||
| ROIC | 3.73% | ||
| ROICexc | 3.81% | ||
| ROICexgc | 3.89% | ||
| OM | 7.52% | ||
| PM (TTM) | 8.33% | ||
| GM | 30.51% | ||
| FCFM | 14.93% |
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-Score5
Asset Turnover0.52
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 4.04 | ||
| Debt/EBITDA | 5.98 | ||
| Cap/Depr | 71.82% | ||
| Cap/Sales | 1.76% | ||
| Interest Coverage | 17.41 | ||
| Cash Conversion | 167.53% | ||
| Profit Quality | 179.19% | ||
| Current Ratio | 1.54 | ||
| Quick Ratio | 1.37 | ||
| Altman-Z | 2.53 |
F-Score5
WACC10.08%
ROIC/WACC0.37
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)-3.42%
EPS 3Y-44.43%
EPS 5YN/A
EPS Q2Q%-43.79%
EPS Next Y-8.18%
EPS Next 2Y11.96%
EPS Next 3Y13.08%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.61%
Revenue growth 3Y-16.31%
Revenue growth 5Y6.18%
Sales Q2Q%-10.36%
Revenue Next Year-16.68%
Revenue Next 2Y-1.42%
Revenue Next 3Y0.03%
Revenue Next 5YN/A
EBIT growth 1Y0.08%
EBIT growth 3Y-49.98%
EBIT growth 5YN/A
EBIT Next Year-29.43%
EBIT Next 3Y-0.84%
EBIT Next 5YN/A
FCF growth 1Y127.49%
FCF growth 3Y-35.35%
FCF growth 5YN/A
OCF growth 1Y112.44%
OCF growth 3Y-33.16%
OCF growth 5Y72.02%