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

Moderate growth potential with imperfect balance sheet.


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


Market Performance


7 Day Return

4.8%

HIMX

3.0%

US Semiconductor

1.8%

US Market


1 Year Return

-61.0%

HIMX

20.6%

US Semiconductor

7.3%

US Market

Return vs Industry: HIMX underperformed the US Semiconductor industry which returned 20.6% over the past year.

Return vs Market: HIMX underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

HIMXIndustryMarket
7 Day4.8%3.0%1.8%
30 Day1.7%-0.02%-0.7%
90 Day-19.7%4.7%0.06%
1 Year-61.0%-61.0%22.9%20.6%9.7%7.3%
3 Year-70.2%-71.4%82.2%71.5%46.3%36.9%
5 Year-66.6%-69.3%137.4%112.9%64.5%46.5%

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?

220.02x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: HIMX ($2.4) is trading above our estimate of fair value ($0.98)

Significantly Undervalued: HIMX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HIMX is poor value based on its PE Ratio (220x) compared to the Semiconductor industry average (27.6x).

PE vs Market: HIMX is poor value based on its PE Ratio (220x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: HIMX is poor value based on its PEG Ratio (1.8x)


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 (2.8x).


Next Steps

Future Growth

How is Himax Technologies forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

124.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HIMX's forecast earnings growth (124.9% per year) is above the savings rate (2.7%).

Earnings vs Market: HIMX's earnings (124.9% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HIMX's revenue (6.7% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: HIMX's revenue (6.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: HIMX's Return on Equity is forecast to be low in 3 years time (2%).


Next Steps

Past Performance

How has Himax Technologies performed over the past 5 years?

-32.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: HIMX's earnings have declined by -32.9% per year over the past 5 years.

Accelerating Growth: HIMX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: HIMX had negative earnings growth (-92.9%) over the past year, making it difficult to compare to the Semiconductor industry average (-6.2%).


Return on Equity

High ROE: HIMX's Return on Equity (-0.2%) is considered low.


Return on Assets

ROA vs Industry: HIMX's Return on Assets is below or equal to the Semiconductor industry average last year.


Return on Capital Employed

ROCE Improving: HIMX is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Himax Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: HIMX's short term assets ($674.8M) exceeds its short term liabilities ($417.4M)

Long Term Liabilities: HIMX's short term assets (674.8M) exceeds its long term liabilities (5.9M)


Debt to Equity History and Analysis

Debt Level: HIMX's debt to equity ratio (55%) is considered high

Reducing Debt: HIMX's debt to equity ratio has increased from 23.8% to 55% 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 2.799740x debt).


Next Steps

Dividend

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

1.25%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.5%markettop25%3.7%industryaverage2.2%forecastin3Years1.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

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.

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


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$413.148m
  • 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 Analysis2019/10/17 23:53
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
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.