Himax Piotroski F Score

Stocks . USA . 
Stock . Himax Technologies
HIMX Stock  USD 7.94  0.04  0.51%   
This module uses fundamental data of Himax Technologies to approximate its Piotroski F score. Himax Technologies F Score is determined by combining nine binary scores representing 3 distinct fundamental categories of Himax Technologies. These three categories are profitability, efficiency, and funding. Some research analysts and sophisticated value traders use Piotroski F Score to find opportunities outside of the conventional market and financial statement analysis.They believe that some of the new information about Himax Technologies financial position does not get reflected in the current market share price suggesting a possibility of arbitrage. Check out Himax Technologies Altman Z Score, Himax Technologies Correlation, Himax Technologies Valuation, as well as analyze Himax Technologies Alpha and Beta and Himax Technologies Hype Analysis. For more information on how to buy Himax Stock please use our How to Invest in Himax Technologies guide.
  
Total Debt is likely to rise to about 448.6 M in 2023. Debt Current is likely to rise to about 404.9 M in 2023. Himax Technologies Price to Earnings Ratio are fairly stable at the moment as compared to the past year. Himax Technologies reported Price to Earnings Ratio of 5.76 in 2022. Price to Sales Ratio is likely to rise to 1.13 in 2023, whereas Book Value per Share is likely to drop 4.47 in 2023.
At this time, it appears that Himax Technologies' Piotroski F Score is Frail. Although some professional money managers and academia have recently criticized Piotroski F-Score model, we still consider it an effective method of predicting the state of the financial strength of any organization that is not predisposed to accounting gimmicks and manipulations. Using this score on the criteria to originate an efficient long-term portfolio can help investors filter out the purely speculative stocks or equities playing fundamental games by manipulating their earnings..
3.0
Piotroski F Score - Frail
1
Current Return On AssetsPositiveFocus
2
Change in Return on AssetsDecreasedFocus
3
Cash Flow Return on AssetsPositiveFocus
4
Current Quality of Earnings (accrual)DecreasingFocus
5
Asset Turnover GrowthIncreaseFocus
6
Current Ratio ChangeDecreaseFocus
7
Long Term Debt Over Assets ChangeHigher LeverageFocus
8
Change In Outstending SharesIncreaseFocus
9
Change in Gross MarginNo ChangeFocus

Himax Technologies Piotroski F Score Drivers

The critical factor to consider when applying the Piotroski F Score to Himax Technologies is to make sure Himax is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Himax Technologies' auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back. Below are the main accounts that are used in the Piotroski F Score model. By analyzing the historical trends of the mains drivers, investors can determine if Himax Technologies' financial numbers are properly reported.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Average Shares382.9 M348.6 M
Significantly Up
Up
Slightly volatile
Return on Average Assets0.120.136
Fairly Down
Up
Slightly volatile
Net Cash Flow from Operations134.7 M152.7 M
Fairly Down
Up
Slightly volatile
Current Liabilities593.9 M694 M
Fairly Down
Up
Slightly volatile
Total Liabilities672.7 M807.9 M
Significantly Down
Up
Slightly volatile
Gross Margin0.370.405
Significantly Down
Up
Slightly volatile
Total Debt448.6 M415.8 M
Significantly Up
Up
Slightly volatile
Asset Turnover0.770.687
Moderately Up
Down
Slightly volatile
Current Assets1.1 B1.3 B
Fairly Down
Up
Slightly volatile
Total Assets1.5 B1.7 B
Fairly Down
Up
Slightly volatile

Himax Technologies F Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to project the various growth rates. Understanding the correlation between Himax Technologies' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Himax Technologies in a much-optimized way.
Click cells to compare fundamentals

About Himax Technologies Piotroski F Score

F-Score is one of many stock grading techniques developed by Joseph Piotroski, a professor of accounting at the Stanford University Graduate School of Business. It was published in 2002 under the paper titled Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Piotroski F Score is based on binary analysis strategy in which stocks are given one point for passing 9 very simple fundamental tests, and zero point otherwise. According to Mr. Piotroski's analysis, his F-Score binary model can help to predict the performance of low price-to-book stocks.

Book Value per Share

4.47

Himax Technologies Book Value per Share is fairly stable at the moment as compared to the past year. Himax Technologies reported Book Value per Share of 5.12 in 2022

Himax Technologies Current Valuation Drivers

We derive many important indicators used in calculating different scores of Himax Technologies from analyzing Himax Technologies' financial statements. These drivers represent accounts that assess Himax Technologies' ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Himax Technologies' important valuation drivers and their relationship over time.
201820192020202120222023 (projected)
Average Assets802.82 M845.33 M866.95 M1.28 B1.75 B1.45 B
Earnings Before Interest Taxes and Depreciation Amortization EBITDA31.12 M13.53 M84.15 M569.97 M302.2 M326.06 M
Earnings Before Interest Taxes and Depreciation Amortization USD31.12 M13.53 M84.15 M569.97 M302.2 M326.06 M
Earnings before Tax9.56 M(13.2 M)58.85 M547.55 M278.08 M300.03 M
Average Equity444.4 M436.82 M447.09 M688.88 M891.82 M762.56 M
Enterprise Value668.44 M595.93 M1.3 B2.75 B1.28 B1.44 B
Free Cash Flow(43.39 M)(33.57 M)101.92 M403.19 M140.54 M117.22 M
Invested Capital489.24 M520.99 M499.12 M835.09 M1.17 B1.27 B
Invested Capital Average460.94 M533.2 M517.58 M673.76 M987.63 M797.88 M
Market Capitalization590.32 M457.91 M1.27 B2.78 B1.08 B1.34 B
Tangible Asset Value797.76 M781.59 M873.8 M1.57 B1.67 B1.42 B
Working Capital263.26 M223.78 M342.17 M591.62 M642.81 M555.97 M

About Himax Technologies Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Himax Technologies's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Himax Technologies using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Himax Technologies based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. Himax Technologies, Inc. was incorporated in 2001 and is headquartered in Tainan City, Taiwan. Himax Technologies operates under Semiconductors classification in the United States and is traded on NASDAQ Exchange. It employs 2100 people.

Himax Technologies Investors Sentiment

The influence of Himax Technologies' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Himax. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
Investor biases related to Himax Technologies' public news can be used to forecast risks associated with investment in Himax. The trend in average sentiment can be used to explain how an investor holding Himax can time the market purely based on public headlines and social activities around Himax Technologies. Please note that most equiteis that are difficult to arbitrage are affected by market sentiment the most.
Himax Technologies' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Himax Technologies' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Himax Technologies' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Himax Technologies.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Himax Technologies in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Himax Technologies' short interest history, or implied volatility extrapolated from Himax Technologies options trading.

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Check out Himax Technologies Altman Z Score, Himax Technologies Correlation, Himax Technologies Valuation, as well as analyze Himax Technologies Alpha and Beta and Himax Technologies Hype Analysis. For more information on how to buy Himax Stock please use our How to Invest in Himax Technologies guide. You can also try Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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Is Himax Technologies' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Himax Technologies. If investors know Himax will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Himax Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.70) 
Earnings Share
1.38
Revenue Per Share
6.876
Quarterly Revenue Growth
(0.42) 
Return On Assets
0.0974
The market value of Himax Technologies is measured differently than its book value, which is the value of Himax that is recorded on the company's balance sheet. Investors also form their own opinion of Himax Technologies' value that differs from its market value or its book value, called intrinsic value, which is Himax Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Himax Technologies' market value can be influenced by many factors that don't directly affect Himax Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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Please note, there is a significant difference between Himax Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine Himax Technologies value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Himax Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.


 
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