HIMAX TECHNOLOGIES INC-ADR (HIMX)
US43289P1066 - ADR
HIMX gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 107 industry peers in the Semiconductors & Semiconductor Equipment industry. HIMX has a medium profitability rating, but doesn't score so well on its financial health evaluation. HIMX scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
In the past year HIMX was profitable.
HIMX had a positive operating cash flow in the past year.
HIMX had positive earnings in 4 of the past 5 years.
Each year in the past 5 years HIMX had a positive operating cash flow.
1.2 Ratios
HIMX's Return On Assets of 3.08% is in line compared to the rest of the industry. HIMX outperforms 53.77% of its industry peers.
Looking at the Return On Equity, with a value of 5.91%, HIMX is in line with its industry, outperforming 55.66% of the companies in the same industry.
HIMX's Return On Invested Capital of 2.66% is in line compared to the rest of the industry. HIMX outperforms 50.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for HIMX is significantly above the industry average of 10.85%.
The 3 year average ROIC (19.60%) for HIMX is well above the current ROIC(2.66%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.08% | ||
| ROE | 5.91% | ||
| ROIC | 2.66% |
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
HIMX has a Profit Margin (5.35%) which is in line with its industry peers.
HIMX's Profit Margin has improved in the last couple of years.
The Operating Margin of HIMX (4.58%) is comparable to the rest of the industry.
HIMX's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 27.88%, HIMX is doing worse than 72.64% of the companies in the same industry.
In the last couple of years the Gross Margin of HIMX has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 4.58% | ||
| PM (TTM) | 5.35% | ||
| GM | 27.88% |
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
HIMX has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for HIMX remains at a similar level compared to 1 year ago.
The number of shares outstanding for HIMX has been increased compared to 5 years ago.
Compared to 1 year ago, HIMX has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.24 indicates that HIMX is not a great score, but indicates only limited risk for bankruptcy at the moment.
HIMX's Altman-Z score of 2.24 is on the low side compared to the rest of the industry. HIMX is outperformed by 62.26% of its industry peers.
HIMX has a debt to FCF ratio of 3.82. This is a good value and a sign of high solvency as HIMX would need 3.82 years to pay back of all of its debts.
HIMX has a Debt to FCF ratio (3.82) which is in line with its industry peers.
HIMX has a Debt/Equity ratio of 0.57. This is a neutral value indicating HIMX is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.57, HIMX is doing worse than 74.53% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 3.82 | ||
| Altman-Z | 2.24 |
ROIC/WACC0.25
WACC10.55%
2.3 Liquidity
A Current Ratio of 1.69 indicates that HIMX should not have too much problems paying its short term obligations.
With a Current ratio value of 1.69, HIMX is not doing good in the industry: 76.42% of the companies in the same industry are doing better.
HIMX has a Quick Ratio of 1.39. This is a normal value and indicates that HIMX is financially healthy and should not expect problems in meeting its short term obligations.
HIMX's Quick ratio of 1.39 is on the low side compared to the rest of the industry. HIMX is outperformed by 70.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.69 | ||
| Quick Ratio | 1.39 |
3. Growth
3.1 Past
The earnings per share for HIMX have decreased strongly by -81.32% in the last 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 very negative growth in Revenue. In the last year, the Revenue has decreased by -21.30%.
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)-81.32%
EPS 3Y-1.46%
EPS 5Y31.32%
EPS growth Q2Q-43.98%
Revenue 1Y (TTM)-21.3%
Revenue growth 3Y2.14%
Revenue growth 5Y5.49%
Revenue growth Q2Q-13.2%
3.2 Future
Based on estimates for the next years, HIMX will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.47% on average per year.
Based on estimates for the next years, HIMX will show a small growth in Revenue. The Revenue will grow by 3.37% on average per year.
EPS Next Y38.47%
EPS Next 2Y34.21%
EPS Next 3Y13.47%
EPS Next 5YN/A
Revenue Next Year0.55%
Revenue Next 2Y4.89%
Revenue Next 3Y3.37%
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 17.28, which indicates a rather expensive current valuation of HIMX.
82.08% of the companies in the same industry are more expensive than HIMX, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of HIMX to the average of the S&P500 Index (24.67), we can say HIMX is valued slightly cheaper.
A Price/Forward Earnings ratio of 12.52 indicates a correct valuation of HIMX.
Based on the Price/Forward Earnings ratio, HIMX is valued cheaper than 93.40% of the companies in the same industry.
HIMX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.02.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.28 | ||
| Fwd PE | 12.52 |
4.2 Price Multiples
HIMX's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HIMX is cheaper than 87.74% of the companies in the same industry.
98.11% 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 | 6.77 | ||
| EV/EBITDA | 11.04 |
4.3 Compensation for Growth
The 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 13.47% in the coming years.
PEG (NY)0.45
PEG (5Y)0.55
EPS Next 2Y34.21%
EPS Next 3Y13.47%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 9.48%, HIMX is a good candidate for dividend investing.
HIMX's Dividend Yield is rather good when compared to the industry average which is at 2.06. HIMX pays more dividend than 100.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, HIMX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.48% |
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 165.74% 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.
DP165.74%
EPS Next 2Y34.21%
EPS Next 3Y13.47%
HIMAX TECHNOLOGIES INC-ADR
NASDAQ:HIMX (5/1/2024, 1:47:02 PM)
5.01
-0.04 (-0.79%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners
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Market Cap875.37M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.48% |
Dividend Growth(5Y)
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Surprises & Revisions
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Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.28 | ||
| Fwd PE | 12.52 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
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FCF(TTM)
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SpS
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TBVpS
PEG (NY)0.45
PEG (5Y)0.55
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.08% | ||
| ROE | 5.91% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 4.58% | ||
| PM (TTM) | 5.35% | ||
| GM | 27.88% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.58
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.69 | ||
| Quick Ratio | 1.39 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-81.32%
EPS 3Y-1.46%
EPS 5Y
EPS growth Q2Q
EPS Next Y38.47%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-21.3%
Revenue growth 3Y2.14%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
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EBIT growth 3Y
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