NasdaqGS:HIMX

Stock Analysis Report

Executive Summary

Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, the United States, and internationally.

Snowflake

Fundamentals

Imperfect balance sheet and overvalued.


Similar Companies

Share Price & News

How has Himax Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HIMX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-21.2%

HIMX

-0.9%

US Semiconductor

0.5%

US Market


1 Year Return

-46.8%

HIMX

38.3%

US Semiconductor

16.1%

US Market

Return vs Industry: HIMX underperformed the US Semiconductor industry which returned 38.3% over the past year.

Return vs Market: HIMX underperformed the US Market which returned 16.1% over the past year.


Shareholder returns

HIMXIndustryMarket
7 Day-21.2%-0.9%0.5%
30 Day-8.4%5.9%3.9%
90 Day10.6%13.1%6.6%
1 Year-46.8%-46.8%41.1%38.3%18.7%16.1%
3 Year-70.2%-71.3%81.8%71.5%47.2%37.7%
5 Year-65.4%-68.3%129.1%107.0%61.5%43.7%

Price Volatility Vs. Market

How volatile is Himax Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Himax Technologies undervalued compared to its fair value and its price relative to the market?

0.88x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: HIMX ($2.19) is trading above our estimate of fair value ($0.13)

Significantly Below Fair Value: HIMX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HIMX is unprofitable, so we can't compare its PE Ratio to the Semiconductor industry average.

PE vs Market: HIMX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate HIMX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: HIMX is good value based on its PB Ratio (0.9x) compared to the US Semiconductor industry average (2.9x).


Next Steps

Future Growth

How is Himax Technologies forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

52.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HIMX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: HIMX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: HIMX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: HIMX's revenue (4.3% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: HIMX's revenue (4.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HIMX is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Himax Technologies performed over the past 5 years?

-36.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HIMX has large one-off items impacting its financial results.

Growing Profit Margin: HIMX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: HIMX is unprofitable, and losses have increased over the past 5 years at a rate of -36.6% per year.

Accelerating Growth: Unable to compare HIMX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HIMX is unprofitable, making it difficult to compare its past year earnings growth to the Semiconductor industry (-14.2%).


Return on Equity

High ROE: HIMX has a negative Return on Equity (-2.08%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Himax Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: HIMX's short term assets ($637.8M) exceeds its short term liabilities ($411.1M)

Long Term Liabilities: HIMX's short term assets ($637.8M) exceeds its long term liabilities (6.1M)


Debt to Equity History and Analysis

Debt Level: HIMX's debt to equity ratio (59.2%) is considered high.

Reducing Debt: HIMX's debt to equity ratio has increased from 30.1% to 59.2% over the past 5 years.

Debt Coverage: HIMX's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if HIMX's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: HIMX has a high level of physical assets or inventory.

Debt Coverage by Assets: HIMX's debt is covered by short term assets (assets are 2.5x debt).


Next Steps

Dividend

What is Himax Technologies's current dividend yield, its reliability and sustainability?

0.80%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage2.0%forecastin3Years0.8%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate HIMX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate HIMX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HIMX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HIMX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: HIMX is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HIMX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Himax Technologies's salary, the management and board of directors tenure and is there insider trading?


CEO

Jordan Wu (58yo)

0yrs

Tenure

0

Mr. Jordan Wu serves as the Chief Executive Officer and President at Himax Display, Inc. Mr. Wu founded to Himax Technologies, Inc. He has been the Chief Executive Officer and President at Himax Technologi ...


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Biing-Seng Wu (61yo)

    Founder & Chairman of the Board

    • Tenure: 0yrs
  • Jordan Wu (58yo)

    Founder

    • Tenure: 0yrs
  • Norman Hung (61yo)

    Executive Vice President of Sales & Marketing

    • Tenure: 0yrs
  • Jackie Chang (59yo)

    Chief Financial Officer

    • Tenure: 7.8yrs
  • David Lyou

    Executive Vice President of Design & Engineering Center / Business Center III

    • Tenure: 0yrs
  • Greg Falesnik

    Managing Director of Investor Relations - US Representative

    • Tenure: 0yrs

Board Members

  • Biing-Seng Wu (61yo)

    Founder & Chairman of the Board

    • Tenure: 0yrs
  • Jordan Wu (58yo)

    Founder

    • Tenure: 0yrs
  • Yuan-Chuan Horng (67yo)

    Independent Director

    • Tenure: 0yrs
  • Yan-Kuin Su (70yo)

    Independent Director

    • Tenure: 0yrs
  • Hsiung-Ku Chen (67yo)

    Independent Director

    • Tenure: 0yrs

Company Information

Himax Technologies, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Himax Technologies, Inc.
  • Ticker: HIMX
  • Exchange: NasdaqGS
  • Founded: 2001
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: US$376.998m
  • Shares outstanding: 172.15m
  • Website: https://www.himax.com.tw

Number of Employees


Location

  • Himax Technologies, Inc.
  • No.26, Zih Lian Road
  • Sinshih District
  • Tainan City
  • 74148
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HIMXNasdaqGS (Nasdaq Global Select)YesSPONS ADR EA REPR 2 ORD SHS NPVUSUSDMar 2006
H6QDB (Deutsche Boerse AG)YesSPONS ADR EA REPR 2 ORD SHS NPVDEEURMar 2006

Biography

Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, the United States, and internationally.  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 00:03
End of Day Share Price2019/11/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.