HIMAX TECHNOLOGIES INC-ADR (HIMX) Stock Fundamental Analysis
NASDAQ:HIMX - Nasdaq - US43289P1066 - ADR
HIMX gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 109 industry peers in the Semiconductors & Semiconductor Equipment industry. HIMX scores excellent on profitability, but there are concerns on its financial health. 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.
In the past year HIMX had a positive cash flow from operations.
HIMX had positive earnings in 4 of the past 5 years.
In the past 5 years HIMX always reported a positive cash flow from operatings.
1.2 Ratios
HIMX's Return On Assets of 4.83% is fine compared to the rest of the industry. HIMX outperforms 62.04% of its industry peers.
With a decent Return On Equity value of 9.09%, HIMX is doing good in the industry, outperforming 63.89% of the companies in the same industry.
With a Return On Invested Capital value of 3.71%, HIMX perfoms like the industry average, outperforming 57.41% of the companies in the same industry.
HIMX had an Average Return On Invested Capital over the past 3 years of 19.60%. This is significantly above the industry average of 11.96%.
The last Return On Invested Capital (3.71%) for HIMX is well below the 3 year average (19.60%), which needs to be investigated, but indicates that HIMX had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.83% | ||
| ROE | 9.09% | ||
| ROIC | 3.71% |
ROA(3y)14.75%
ROA(5y)9.55%
ROE(3y)27.57%
ROE(5y)17.87%
ROIC(3y)19.6%
ROIC(5y)N/A
1.3 Margins
Looking at the Profit Margin, with a value of 8.77%, HIMX is in line with its industry, outperforming 59.26% of the companies in the same industry.
In the last couple of years the Profit Margin of HIMX has grown nicely.
HIMX's Operating Margin of 6.89% is in line compared to the rest of the industry. HIMX outperforms 59.26% of its industry peers.
HIMX's Operating Margin has improved in the last couple of years.
HIMX has a Gross Margin of 30.42%. This is in the lower half of the industry: HIMX underperforms 69.44% of its industry peers.
In the last couple of years the Gross Margin of HIMX has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.89% | ||
| PM (TTM) | 8.77% | ||
| GM | 30.42% |
OM growth 3Y-11.19%
OM growth 5Y57.62%
PM growth 3Y0.29%
PM growth 5Y35.12%
GM growth 3Y3.85%
GM growth 5Y3.61%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HIMX is still creating some 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.
The debt/assets ratio for HIMX is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.88 indicates that HIMX is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.88, HIMX perfoms like the industry average, outperforming 42.59% of the companies in the same industry.
HIMX has a debt to FCF ratio of 4.34. This is a neutral value as HIMX would need 4.34 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 4.34, HIMX is in line with its industry, outperforming 58.33% of the companies in the same industry.
A Debt/Equity ratio of 0.62 indicates that HIMX is somewhat dependend on debt financing.
HIMX has a worse Debt to Equity ratio (0.62) than 78.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.34 | ||
| Altman-Z | 2.88 |
ROIC/WACC0.29
WACC12.95%
2.3 Liquidity
A Current Ratio of 1.64 indicates that HIMX should not have too much problems paying its short term obligations.
The Current ratio of HIMX (1.64) is worse than 78.70% 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 75.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.64 | ||
| Quick Ratio | 1.37 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 13.67% over the past year.
Measured over the past years, HIMX shows a very strong growth in Earnings Per Share. The EPS has been growing by 31.32% on average per year.
HIMX shows a decrease in Revenue. In the last year, the revenue decreased by -8.44%.
Measured over the past years, HIMX shows a small growth in Revenue. The Revenue has been growing by 5.49% on average per year.
EPS 1Y (TTM)13.67%
EPS 3Y-1.46%
EPS 5Y31.32%
EPS Q2Q%15.62%
Revenue 1Y (TTM)-8.44%
Revenue growth 3Y2.14%
Revenue growth 5Y5.49%
Sales Q2Q%-6.75%
3.2 Future
The Earnings Per Share is expected to grow by 35.83% on average over the next years. This is a very strong growth
Based on estimates for the next years, HIMX will show a small growth in Revenue. The Revenue will grow by 3.50% on average per year.
EPS Next Y48.24%
EPS Next 2Y-7.01%
EPS Next 3Y35.83%
EPS Next 5YN/A
Revenue Next Year11.17%
Revenue Next 2Y-0.84%
Revenue Next 3Y3.5%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same 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 22.51.
Based on the Price/Earnings ratio, HIMX is valued cheaper than 80.56% of the companies in the same industry.
When comparing the Price/Earnings ratio of HIMX to the average of the S&P500 Index (28.29), we can say HIMX is valued slightly cheaper.
HIMX is valuated quite expensively with a Price/Forward Earnings ratio of 40.54.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HIMX is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 24.44. HIMX is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.51 | ||
| Fwd PE | 40.54 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HIMX is valued a bit cheaper than 74.07% of the companies in the same industry.
95.37% 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 | 14.25 | ||
| EV/EBITDA | 17.77 |
4.3 Compensation for Growth
HIMX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of HIMX may justify a higher PE ratio.
A more expensive valuation may be justified as HIMX's earnings are expected to grow with 35.83% in the coming years.
PEG (NY)0.47
PEG (5Y)0.72
EPS Next 2Y-7.01%
EPS Next 3Y35.83%
5. Dividend
5.1 Amount
HIMX has a Yearly Dividend Yield of 3.19%. 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 94.44% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.28, HIMX pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.19% |
5.2 History
The dividend of HIMX is nicely growing with an annual growth rate of 36.87%!
HIMX has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)36.87%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
HIMX pays out 64.67% of its income as dividend. This is not a sustainable payout ratio.
The dividend of HIMX is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP64.67%
EPS Next 2Y-7.01%
EPS Next 3Y35.83%
HIMAX TECHNOLOGIES INC-ADR
NASDAQ:HIMX (1/22/2025, 11:55:07 AM)
10.13
+0.57 (+5.96%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners16.96%
Inst Owner Change0.03%
Ins Owners30.98%
Ins Owner ChangeN/A
Market Cap1.77B
Analysts82.22
Price Target11.08 (9.38%)
Short Float %9.55%
Short Ratio3.3
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.19% |
Yearly Dividend0.24
Dividend Growth(5Y)36.87%
DP64.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)76.14%
Min EPS beat(2)10.46%
Max EPS beat(2)141.83%
EPS beat(4)4
Avg EPS beat(4)50.52%
Min EPS beat(4)10.46%
Max EPS beat(4)141.83%
EPS beat(8)7
Avg EPS beat(8)33.07%
EPS beat(12)9
Avg EPS beat(12)22.25%
EPS beat(16)12
Avg EPS beat(16)20.17%
Revenue beat(2)2
Avg Revenue beat(2)4.43%
Min Revenue beat(2)2.43%
Max Revenue beat(2)6.43%
Revenue beat(4)4
Avg Revenue beat(4)2.34%
Min Revenue beat(4)0.04%
Max Revenue beat(4)6.43%
Revenue beat(8)7
Avg Revenue beat(8)2.76%
Revenue beat(12)8
Avg Revenue beat(12)1.33%
Revenue beat(16)11
Avg Revenue beat(16)1.6%
PT rev (1m)32.52%
PT rev (3m)32.52%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-41.18%
EPS NY rev (1m)0%
EPS NY rev (3m)1.2%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-10.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)21.13%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.51 | ||
| Fwd PE | 40.54 | ||
| P/S | 1.97 | ||
| P/FCF | 14.25 | ||
| P/OCF | 11.85 | ||
| P/B | 2.04 | ||
| P/tB | 2.12 | ||
| EV/EBITDA | 17.77 |
EPS(TTM)0.45
EY4.44%
EPS(NY)0.25
Fwd EY2.47%
FCF(TTM)0.71
FCFY7.02%
OCF(TTM)0.85
OCFY8.44%
SpS5.14
BVpS4.95
TBVpS4.79
PEG (NY)0.47
PEG (5Y)0.72
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.83% | ||
| ROE | 9.09% | ||
| ROCE | 6.76% | ||
| ROIC | 3.71% | ||
| ROICexc | 4.34% | ||
| ROICexgc | 4.45% | ||
| OM | 6.89% | ||
| PM (TTM) | 8.77% | ||
| GM | 30.42% | ||
| FCFM | 13.84% |
ROA(3y)14.75%
ROA(5y)9.55%
ROE(3y)27.57%
ROE(5y)17.87%
ROIC(3y)19.6%
ROIC(5y)N/A
ROICexc(3y)27.01%
ROICexc(5y)N/A
ROICexgc(3y)28.11%
ROICexgc(5y)N/A
ROCE(3y)28.19%
ROCE(5y)N/A
ROICexcg growth 3Y-34.99%
ROICexcg growth 5Y39.15%
ROICexc growth 3Y-33.75%
ROICexc growth 5Y40.67%
OM growth 3Y-11.19%
OM growth 5Y57.62%
PM growth 3Y0.29%
PM growth 5Y35.12%
GM growth 3Y3.85%
GM growth 5Y3.61%
F-Score6
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.34 | ||
| Debt/EBITDA | 6.37 | ||
| Cap/Depr | 114.48% | ||
| Cap/Sales | 2.79% | ||
| Interest Coverage | 15.05 | ||
| Cash Conversion | 178.32% | ||
| Profit Quality | 157.82% | ||
| Current Ratio | 1.64 | ||
| Quick Ratio | 1.37 | ||
| Altman-Z | 2.88 |
F-Score6
WACC12.95%
ROIC/WACC0.29
Cap/Depr(3y)69.99%
Cap/Depr(5y)85.11%
Cap/Sales(3y)1.34%
Cap/Sales(5y)2.32%
Profit Quality(3y)124.16%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.67%
EPS 3Y-1.46%
EPS 5Y31.32%
EPS Q2Q%15.62%
EPS Next Y48.24%
EPS Next 2Y-7.01%
EPS Next 3Y35.83%
EPS Next 5YN/A
Revenue 1Y (TTM)-8.44%
Revenue growth 3Y2.14%
Revenue growth 5Y5.49%
Sales Q2Q%-6.75%
Revenue Next Year11.17%
Revenue Next 2Y-0.84%
Revenue Next 3Y3.5%
Revenue Next 5YN/A
EBIT growth 1Y14.3%
EBIT growth 3Y-9.29%
EBIT growth 5Y66.27%
EBIT Next Year96.93%
EBIT Next 3Y53.29%
EBIT Next 5YN/A
FCF growth 1Y-49.91%
FCF growth 3Y10.18%
FCF growth 5YN/A
OCF growth 1Y-42.51%
OCF growth 3Y14.21%
OCF growth 5Y107.22%