Himax Technologies, Inc.

HIMX Technology Semiconductors

Himax Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $832.2 million, down 8.23% from fiscal 2024. In the quarter to June 2026, revenue grew 5.85%, EPS grew 10.0%, free cash flow fell 76.7% and total debt rose 1,725.4%, each against the same quarter a year earlier.

11.65 0.46 −3.80%
Market cap
$2.1B
P/E
56.6×
Fwd P/E
50.2×
Dividend yield
2.16%
F-score
6/9
Altman Z
2.43
Beneish M
−2.95
Dividend safety
38/100
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
P/E ratio
20.06 61.29 68.60 0.00 26.39 6.40 4.70 22.31 17.87 31.99
Piotroski F-Score
8 5 4 2 7 7 3 5 6 6
P/S ratio
1.34 2.62 0.82 0.68 1.44 1.80 0.92 1.17 1.55 1.72
Altman Z-Score
4.17 4.89 2.56 2.18 3.86 5.40 3.02 2.38 2.73 2.43
Altman Z″-Score (non-manufacturers)
6.17 5.06 4.22 3.73 5.07 7.30 5.96 4.57 4.71 4.28
P/FCF ratio
13.96 0.00 0.00 0.00 13.17 7.34 15.65 8.55 13.68 11.96
Beneish M-Score
(2.57) (2.47) (2.37) (2.65) (2.42) (1.53) (2.48) (2.48) (2.59) (2.95)
P/Operating CF
22.70 216.57 253.41 19.58 18.87 15.32 202.66 16.09 39.68 85.03
Dividend Safety Score
— — — — — — — — — 38
P/B ratio
2.29 3.96 1.34 1.06 2.63 3.20 1.24 1.28 1.57 1.58
Price to Tangible BV
2.45 4.25 1.47 1.16 2.84 3.33 1.28 1.33 1.62 1.64
EV/Sales
0.92 2.19 0.68 0.52 1.28 1.50 0.46 0.99 0.78 1.41
EV/EBITDA
10.13 59.94 20.82 57.40 13.92 4.11 1.99 14.80 7.86 17.57
EV/Operating CF
8.73 51.06 123.15 45.67 11.06 5.99 6.69 6.15 6.14 8.37
EV/FCF
9.63 (145.56) (10.60) (9.12) 11.70 6.12 7.84 7.26 6.92 9.80
Quick Ratio
1.64 1.42 1.21 1.16 1.56 1.55 1.24 1.27 1.37 1.32
Current Ratio
2.16 1.93 1.67 1.59 1.97 1.98 1.93 1.69 1.65 1.58
Net Debt/EBITDA
(2.67) (5.95) (4.13) (17.91) (1.75) (0.82) (1.98) (2.61) (7.66) (12.39)
Debt/Assets
17.26% 18.30% 21.99% 20.40% 17.86% 3.27% 2.73% 30.03% 2.10% 1.65%
Debt/Equity
0.29 0.32 0.42 0.39 0.33 0.06 0.05 0.57 0.04 0.03
Asset Turnover
1.00 0.85 0.88 0.81 1.03 1.23 0.73 0.57 0.55 0.49
Operating CF/Net income
1.66 1.06 0.47 (0.56) 2.18 0.89 0.35 3.02 1.45 3.19
Capex/Depreciation
(0.57) (2.38) (2.49) (1.88) (0.24) (0.38) (0.57) (1.15) (0.59) (0.91)
Interest Coverage
93.58 9.52 2.75 (7.87) 33.97 507.47 92.56 7.11 17.00 12.64
ROE
11.20% 6.01% 1.91% (3.12%) 10.29% 64.38% 26.84% 5.76% 9.06% 4.89%
ROA
6.36% 3.45% 1.05% (1.65%) 5.45% 34.77% 14.34% 3.03% 4.86% 2.60%
ROIC
13.54% 1.71% 0.61% (3.55%) 10.58% 83.90% 47.19% 3.87% 21.05% 36.12%
Return on Tangible Assets
11.94% 6.86% 2.29% (3.75%) 9.94% 60.27% 30.82% 8.14% 13.69% 7.50%
Average Days of Receivables
90.08 102.32 96.91 90.31 100.75 97.08 79.73 91.63 95.62 88.33
Research and Development Expense of Revenue
11.93% 17.17% 17.00% 17.10% 13.78% 9.79% 14.61% 18.13% 17.68% 19.36%
Selling, General and Administrative Expense of Revenue
4.81% 5.96% 5.83% 6.15% 4.57% 3.38% 4.49% 5.17% 5.25% 5.90%
Intangible Assets out of Total Assets
0.04 0.04 0.05 0.05 0.04 0.02 0.02 0.02 0.02 0.02
Share Based Compensation of Revenue
0.15% 0.15% 0.06% 0.07% 0.09% 0.05% 0.26% 0.28% 0.14% 0.09%
Graham Net Nets
0.35 0.17 0.44 0.47 0.21 0.17 0.48 0.38 0.30 0.30
Graham Number
4.35 3.17 1.70 0.00 4.21 16.76 12.47 5.63 7.21 5.46
Earnings Yield
4.98% 1.63% 1.46% (2.63%) 3.79% 15.63% 21.29% 4.48% 5.60% 3.13%
Free Cash Flow Yield
7.16% (0.57%) (7.87%) (8.35%) 7.59% 13.62% 6.39% 11.70% 7.31% 8.36%
Revenue per Share
4.66 3.97 4.19 3.89 5.13 8.86 6.88 5.42 5.19 4.77
Operating CF per Share
0.49 0.17 0.02 0.04 0.59 2.22 0.47 0.88 0.66 0.80
Capex per Share
(0.05) (0.23) (0.29) (0.27) (0.03) (0.05) (0.07) (0.13) (0.08) (0.12)
Free Cash Flow per Share
0.45 (0.06) (0.27) (0.22) 0.56 2.18 0.41 0.74 0.59 0.68
Cash per Share
1.93 1.72 1.63 1.60 1.77 2.97 3.43 3.78 4.17 4.90
Shareholders Equity per Share
2.72 2.63 2.56 2.50 2.81 4.99 5.12 4.95 5.13 5.17
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
2.72 2.63 2.56 2.50 2.81 4.99 5.12 4.95 5.13 5.17
Free Cash Flow
76.78 (10.31) (46.59) (38.32) 96.99 380.25 70.78 129.46 102.77 119.51
Working Capital
378.22 318.90 263.26 223.78 342.17 591.62 642.81 491.78 461.41 465.82
Capital Expenditures
(7.89) (39.70) (50.60) (45.98) (5.62) (8.03) (12.13) (23.38) (13.21) (20.52)
Net Current Asset Value
371.48 313.02 260.02 217.43 269.79 461.63 528.87 420.88 424.85 432.45
EV/EBIT
12.48 179.54 145.85 0.00 19.58 4.27 2.15 21.76 10.43 26.55
Capex to Sales
0.01 0.06 0.07 0.07 0.01 0.01 0.01 0.02 0.01 0.02
Price to Operating Income
18.10 214.94 174.80 0.00 22.05 5.12 4.30 25.60 20.60 32.39
Other line items
Depreciation/Fixed assets
0.29 0.20 0.18 0.18 0.18 0.16 0.17 0.16 0.18 0.19
Cash ROIC
8.18% (1.15%) (5.13%) (4.38%) 10.18% 26.35% 4.60% 6.42% 6.19% 6.69%
Accounts Receivable Turnover
4.28 3.51 3.77 3.75 4.32 4.71 3.57 3.78 3.82 3.79
Accounts Payable Turnover
4.55 3.64 3.74 3.94 4.56 3.75 3.81 5.88 5.72 4.58
Inventory Turnover
3.79 3.64 3.73 3.49 5.28 5.20 2.51 2.32 3.35 3.71
Average Days of Payables
85.67 100.12 101.53 79.67 96.41 114.30 63.68 57.51 65.52 87.84
Days of Inventory on Hand
89.81 95.24 106.97 98.29 59.53 90.78 189.56 116.31 91.88 96.44
Average Receivables
187.67 195.11 192.10 179.18 205.57 328.20 336.94 249.88 237.45 219.47
Average Payables
133.63 142.49 148.22 135.42 146.29 213.05 187.34 116.03 110.33 126.13
Average Inventory
160.56 142.47 148.88 153.17 126.24 153.65 284.77 294.12 188.03 155.71
Average Assets
800.99 801.41 819.94 827.58 864.15 1,256.51 1,652.48 1,672.58 1,641.46 1,687.27
Average Common Equity
454.75 460.87 447.94 436.77 458.22 678.59 882.90 878.76 880.01 899.23

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