HIMAX TECHNOLOGIES INC-ADR (HIMX) Stock Fundamental Analysis
USA - NASDAQ:HIMX - US43289P1066 - ADR
9.37 USD
-0.15 (-1.58%)
9.48 USD
+0.11 (+1.17%)
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 on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
HIMX had positive earnings in the past year.
HIMX had a positive operating cash flow in the past year.
Each year in the past 5 years HIMX has been profitable.
HIMX had a positive operating cash flow in each of the past 5 years.
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.
Looking at the Return On Invested Capital, with a value of 3.73%, HIMX is in the better half of the industry, outperforming 60.71% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HIMX is below the industry average of 11.03%.
| 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
Looking at the Profit Margin, with a value of 8.33%, HIMX is in the better half of the industry, outperforming 66.07% of the companies in the same industry.
HIMX's Profit Margin has declined in the last couple of years.
HIMX's Operating Margin of 7.52% is fine compared to the rest of the industry. HIMX outperforms 62.50% of its industry peers.
In the last couple of years the Operating Margin of HIMX has declined.
With a Gross Margin value of 30.51%, HIMX is not doing good in the industry: 70.54% of the companies in the same industry are doing better.
HIMX's Gross Margin has improved in the last couple of years.
| 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
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 remains at a similar level 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
An Altman-Z score of 2.66 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 2.66, HIMX is doing worse than 61.61% of the companies in the same industry.
The Debt to FCF ratio of HIMX is 4.04, which is a neutral value as it means it would take HIMX, 4.04 years of fcf income to pay off all of its debts.
HIMX's Debt to FCF ratio of 4.04 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.
HIMX has a Debt to Equity ratio of 0.61. This is in the lower half of the industry: HIMX underperforms 73.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.61 | ||
| Debt/FCF | 4.04 | ||
| Altman-Z | 2.66 |
ROIC/WACC0.36
WACC10.5%
2.3 Liquidity
A Current Ratio of 1.54 indicates that HIMX should not have too much problems paying its short term obligations.
With a Current ratio value of 1.54, HIMX is not doing good in the industry: 83.04% of the companies in the same industry are doing better.
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
HIMX shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.42%.
The earnings per share for HIMX have been decreasing by -44.43% on average. This is quite bad
HIMX shows a decrease in Revenue. In the last year, the revenue decreased by -2.61%.
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
The Earnings Per Share is expected to grow by 18.91% on average over the next years. This is quite good.
The Revenue is expected to grow by 0.03% on average over the next years.
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
A Price/Earnings ratio of 22.31 indicates a rather expensive valuation of HIMX.
Based on the Price/Earnings ratio, HIMX is valued cheaply inside the industry as 83.93% of the companies are valued more expensively.
HIMX's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.19.
A Price/Forward Earnings ratio of 15.47 indicates a correct valuation of HIMX.
92.86% of the companies in the same industry are more expensive than HIMX, based on the Price/Forward Earnings ratio.
HIMX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.50.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.31 | ||
| Fwd PE | 15.47 |
4.2 Price Multiples
HIMX's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HIMX is cheaper than 75.89% of the companies in the same industry.
HIMX's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HIMX is cheaper than 96.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.34 | ||
| EV/EBITDA | 18.51 |
4.3 Compensation for Growth
A more expensive valuation may be justified as HIMX's earnings are expected to grow with 18.91% in the coming years.
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 4.02%, which is a nice return.
Compared to an average industry Dividend Yield of 2.18, HIMX pays a better dividend. On top of this HIMX pays more dividend than 97.32% 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 2.33.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.02% |
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
HIMX pays out 69.26% of its income as dividend. This is not a sustainable payout ratio.
DP69.26%
EPS Next 2Y15.4%
EPS Next 3Y18.91%
9.37
-0.15 (-1.58%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners19.86%
Inst Owner Change2.12%
Ins Owners31.06%
Ins Owner ChangeN/A
Market Cap1.64B
Revenue(TTM)889.56M
Net Income(TTM)74.14M
Analysts83.64
Price Target9.5 (1.39%)
Short Float %6.36%
Short Ratio3.56
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.02% |
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)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 | 22.31 | ||
| Fwd PE | 15.47 | ||
| P/S | 1.84 | ||
| P/FCF | 12.34 | ||
| P/OCF | 11.04 | ||
| P/B | 1.9 | ||
| P/tB | 1.96 | ||
| EV/EBITDA | 18.51 |
EPS(TTM)0.42
EY4.48%
EPS(NY)0.61
Fwd EY6.47%
FCF(TTM)0.76
FCFY8.11%
OCF(TTM)0.85
OCFY9.06%
SpS5.09
BVpS4.94
TBVpS4.78
PEG (NY)N/A
PEG (5Y)N/A
Graham Number6.83
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%
ROICexgc growth 3Y-56.95%
ROICexgc 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 | 2.66 |
F-Score5
WACC10.5%
ROIC/WACC0.36
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-16.7%
EPS Next 2Y15.4%
EPS Next 3Y18.91%
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-37.76%
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%
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 5 / 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 22.31 and the Price/Book (PB) ratio is 1.9.
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.