(HIMX) Himax Technologies - Overview
Sector: Technology | Industry: Semiconductors | Exchange: NASDAQ (USA) | Market Cap: 3.602m USD | Total Return: 156.7% in 12m
Avg Turnover: 94.4M
EPS Trend: -66.4%
Qual. Beats: 0
Rev. Trend: -93.1%
Qual. Beats: 0
Warnings
P/E ratio 108.7
Tailwinds
Supp Ema20, Rs Leader
Himax Technologies, Inc. (HIMX) is a Taiwan-based fabless semiconductor firm specializing in display imaging processing technologies. The company operates through two primary segments: Driver ICs and Non-Driver Products. Its portfolio includes display driver integrated circuits (ICs), timing controllers, and power management solutions used in consumer electronics, automotive displays, and industrial equipment. Beyond traditional displays, the company develops specialized components such as CMOS image sensors, wafer-level optics, and 3D sensing solutions.
As a fabless semiconductor company, Himax focuses on design and R&D while outsourcing physical manufacturing to third-party foundries, a model that reduces capital expenditure on fabrication facilities. The automotive display sector has become a significant growth driver for the industry as vehicles increasingly integrate large-scale, high-resolution touchscreens and organic light-emitting diode (OLED) technologies into digital cockpits.
Analyzing the historical performance of fabless firms on ValueRay can provide further context for your investment thesis. Himax maintains a global footprint, supplying panel and module manufacturers across major markets including China, Korea, and the United States.
- Automotive display driver IC demand fuels long-term revenue growth and margin expansion
- Global consumer electronics recovery dictates short-term demand for large and small panels
- Expansion of WiseEye AI sensing technology diversifies revenue beyond traditional display markets
- Fabless model profitability remains sensitive to foundry capacity costs and inventory levels
- Geopolitical tensions in the Taiwan Strait impact investor risk premium and valuation multiples
| Net Income: 31.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -2.06 > 1.0 |
| NWC/Revenue: 58.92% < 20% (prev 53.18%; Δ 5.74% < -1%) |
| CFO/TA 0.05 > 3% & CFO 87.8m > Net Income 31.9m |
| Net Debt (-258.9m) to EBITDA (62.6m): -4.13 < 3 |
| Current Ratio: 1.62 > 1.5 & < 3 |
| Outstanding Shares: last quarter (174.4m) vs 12m ago -0.37% < -2% |
| Gross Margin: 30.54% > 18% (prev 0.31%; Δ 3.02k% > 0.5%) |
| Asset Turnover: 48.40% > 50% (prev 55.91%; Δ -7.51% > 0%) |
| Interest Coverage Ratio: 11.63 > 6 (EBITDA TTM 62.6m / Interest Expense TTM 3.38m) |
| A: 0.28 (Total Current Assets 1.26b - Total Current Liabilities 775.7m) / Total Assets 1.73b |
| B: 0.38 (Retained Earnings 651.6m / Total Assets 1.73b) |
| C: 0.02 (EBIT TTM 39.3m / Avg Total Assets 1.68b) |
| D: 1.00 (Book Value of Equity 808.4m / Total Liabilities 806.0m) |
| Altman-Z'' = 4.26 = AA |
| DSRI: 0.98 (Receivables 191.0m/218.3m, Revenue 814.2m/914.4m) |
| GMI: 1.01 (GM 30.54% / 30.73%) |
| AQI: 0.98 (AQ_t 0.21 / AQ_t-1 0.21) |
| SGI: 0.89 (Revenue 814.2m / 914.4m) |
| TATA: -0.03 (NI 31.9m - CFO 87.8m) / TA 1.73b) |
| Beneish M = -3.16 (Cap -4..+1) = AA |
As of May 31, 2026, the stock is trading at USD 20.57 with a total of 4,733,854 shares traded.
Over the past week, the price has changed by +3.42%,
over one month by +79.65%,
over three months by +182.55% and
over the past year by +156.70%.
Himax Technologies has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy HIMX.
- StrongBuy: 2
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 23.7 | 15.2% |
P/E Trailing = 108.6842
P/E Forward = 9.8425
P/S = 4.4138
P/B = 3.9429
P/EG = 1.4893
Revenue TTM = 814.2m USD
EBIT TTM = 39.3m USD
EBITDA TTM = 62.6m USD
Long Term Debt = 21.0m USD (from longTermDebt, last quarter)
Short Term Debt = 574.2m USD (from shortTermDebt, last quarter)
Debt = 597.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.75m
Net Debt = -258.9m USD (calculated: Debt 597.0m - CCE 855.8m)
Enterprise Value = 3.34b USD (3.60b + Debt 597.0m - CCE 855.8m)
Interest Coverage Ratio = 11.63 (Ebit TTM 39.3m / Interest Expense TTM 3.38m)
EV/FCF = 47.94x (Enterprise Value 3.34b / FCF TTM 69.7m)
FCF Yield = 2.09% (FCF TTM 69.7m / Enterprise Value 3.34b)
FCF Margin = 8.57% (FCF TTM 69.7m / Revenue TTM 814.2m)
Net Margin = 3.92% (Net Income TTM 31.9m / Revenue TTM 814.2m)
Gross Margin = 30.54% ((Revenue TTM 814.2m - Cost of Revenue TTM 565.5m) / Revenue TTM)
Gross Margin QoQ = 30.37% (prev 30.38%)
Tobins Q-Ratio = 1.93 (Enterprise Value 3.34b / Total Assets 1.73b)
Interest Expense / Debt = 0.57% (Interest Expense 3.38m / Debt 597.0m)
Taxrate = 19.99% (2.12m / 10.6m)
NOPAT = 31.5m (EBIT 39.3m * (1 - 19.99%))
Current Ratio = 1.62 (Total Current Assets 1.26b / Total Current Liabilities 775.7m)
Debt / Equity = 0.65 (Debt 597.0m / totalStockholderEquity, last quarter 913.8m)
Debt / EBITDA = -4.13 (Net Debt -258.9m / EBITDA 62.6m)
Debt / FCF = -3.71 (Net Debt -258.9m / FCF TTM 69.7m)
Total Stockholder Equity = 886.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.90% (Net Income 31.9m / Total Assets 1.73b)
RoE = 3.60% (Net Income TTM 31.9m / Total Stockholder Equity 886.8m)
RoCE = 4.33% (EBIT 39.3m / Capital Employed (Equity 886.8m + L.T.Debt 21.0m))
RoIC = 2.06% (NOPAT 31.5m / Invested Capital 1.53b)
WACC = 11.39% (E(3.60b)/V(4.20b) * Re(13.20%) + D(597.0m)/V(4.20b) * Rd(0.57%) * (1-Tc(0.20)))
Discount Rate = 13.20% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -49.44 | Cagr: -0.14%
[DCF] Terminal Value 62.67% ; FCFF base≈81.7m ; Y1≈71.6m ; Y5≈57.9m
[DCF] Fair Price = 5.05 (EV 621.2m - Net Debt -258.9m = Equity 880.1m / Shares 174.4m; r=11.39% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -66.42 | EPS CAGR: -21.47% | SUE: 0.64 | # QB: 0
Revenue Correlation: -93.10 | Revenue CAGR: -5.48% | SUE: 0.71 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.10 | Chg30d=+81.82% | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.09 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=0.40 | Chg30d=+77.78% | Revisions=N/A | GrowthEPS=+58.7% | GrowthRev=+12.2%
EPS next Year (2027-12-31): EPS=1.00 | Chg30d=+122.22% | Revisions=N/A | GrowthEPS=+150.0% | GrowthRev=+24.3%