Himax Technologies (HIMX) Stock Analysis & Winston Score

Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates through two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, laptops, monitors, mobile phones, tablets, automotive, digital cameras, car navigation, virtual reality devices, and other consume

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-7.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-58.2% YoY

YoY Growth Rate

Earnings declining

Insider Activity

0.0%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$828M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Himax Technologies's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

30.4%

Modest — 30.4% gross margin

Operating Margin

5.1%

Thin — 5.1% operating margin

ROCE

0.7%

Weak — 0.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-11.0%

Shrinking sales (-11.0% YoY)

EPS YoY

-62.9%

Earnings shrinking (-62.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

275%

Turns 275% of profit into real cash

FCF Margin

8.6%

Modest free cash flow (8.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.65

Moderate — manageable debt (0.65)

Interest Cover

10.20x

Comfortably covers interest (10.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

76.9x

no trend

Expensive — P/E 76.9

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+58.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (76.9 → 18.3)

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Dividends

Dividend Yield

2.35%

no trend

Moderate income — 2.35% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-24.4%

no trend

Dividend cut (-24.4% YoY) — warning sign

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