Start here if you're new
what it is
Himax makes the chips that tell screens what to show, from TVs and phones to the dashboard in your car.
how it gets paid
FY2024 revenue was ~$907M (down ~4% vs. prior year vs FY2023 in filings). Small and medium display drivers was the main engine at ~$381M, or ~42% of sales.
why growth slowed
Consumer-linked display demand stayed soft; automotive and new ramps (e.g. OLED touch) are the offsets — but they are not yet big enough to fully replace TV/IT cyclicality.
what just happened
Full-year 2024 EPS finished at $0.46, with Himax printing $0.14 in the fourth quarter after a choppy year.
At a glance
n/a balance sheet
35/100 earnings predictability — expect surprises
29.7x trailing p/e — priced about right
8.9% return on capital — modest, not elite
$0.26 fy2025 eps est
What they do
Himax makes the chips that tell screens what to show, from TVs and phones to the dashboard in your car.
Himax sits inside the screen, not on the box. The company says it is the global market share leader in automotive display technology, and it holds around 3,000 patents across three continents. When your car display program can run for years, changing the chip supplier means redoing validation, redesign work, and time. That friction keeps you with the incumbent.
How they make money
$907M
annual revenue (FY2024) · down ~4% vs. prior year vs FY2023
Small and medium display drivers
$381M
Large display drivers
$245M
Automotive display solutions
$163M
Timing controllers and other non-driver products
$118M
The products that matter
screen control chips
Display Driver ICs
~$907M FY2024 revenue base
this is still the center of gravity. The bulk of the ~$907M FY2024 revenue base comes from display drivers used in TVs, laptops, and phones.
core
automotive display chips
Automotive IC Solutions
3,000 patents behind the portfolio
management's differentiation pitch starts here. The company points to leadership in automotive display ICs, backed by 3,000 patents, as cars add more and larger screens.
mix upgrade bet
OLED touch controllers
OLED Touch IC
mass production began q1 2026
mass production started in Q1 2026. If adoption sticks, this gives Himax a shot at premium IT displays instead of relying only on mature driver markets.
new ramp
Key numbers
29.7x
trailing p/e
~30× trailing earnings on a cyclical display-driver model means the market is already paying for stabilization, not just survival.
$907M
annual revenue
That is the sales base Himax has to defend while it tries to shift toward automotive and other less cyclical products.
10.0%
operating margin
Operating margin → profit left after running the business → so what: Himax has some profit, but not enough to shrug off another downturn.
8.9%
return on capital
Return on capital → profit earned on money invested in the business → so what: this is decent, not elite, and it does not justify a heroic valuation by itself.
Financial health
n/a
strength
- balance sheet grade n/a
- price stability 15 / 100
- long-term debt $28M (2% of capital)
n/a — composite grade unavailable; low debt in screen data is still a modest positive.
Total return vs. market
Return history isn't available for HIMX right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Full-year 2024 EPS finished at $0.46, with Himax printing $0.14 in the fourth quarter after a choppy year.
Quarterly EPS in 2024 ran $0.08, $0.17, $0.07, and $0.14, for a full-year total of $0.46, versus $0.29 in 2023. FY2024 revenue ~$907M was down ~4% vs. prior year vs FY2023 — a mild top-line slip, not a collapse — while EPS recovered sharply.
$907M
revenue
$0.46
eps
10.0%
operating margin
the number that mattered
$0.46 matters because it shows earnings recovered from $0.29 in 2023, but not enough to make 29.7x earnings look cheap.
source: Himax Q4 / FY2024 earnings materials (Feb 2025)
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What could go wrong
the #1 risk is paying ~30× trailing earnings for a cyclical display-driver business (~$907M FY2024 revenue) when quarterly results and mix can still swing.
med
valuation disconnect
Screen multiples move fast on Himax: the same ~30× trailing figure can look fine after an EPS year like 2024, then expensive if revenue guidance weakens.
If the next quarter looks merely fine instead of clearly better, multiple compression can do the damage even before the business does.
med
consumer electronics cyclicality
The revenue base is still anchored in display drivers for TVs, laptops, and phones. FY2024 revenue fell ~4% vs. prior year — end-market softness still matters even when EPS bounces.
When consumer device demand cools, the core business does not have much insulation.
med
new product ramp may stay small
OLED Touch IC entered mass production in Q1 2026, but the page does not yet show a revenue contribution from it.
If the ramp is slow, investors are left paying up for a growth leg that has not become visible in the numbers.
med
thin predictability plus high volatility
Earnings predictability is 35/100 and price stability is 15/100. In human terms: this one can whip around.
That mix makes position timing matter more than it does in steadier semiconductor names.
Between a ~$907M FY2024 revenue base, gross margin near ~30.5%, and ~30× trailing earnings, the stock still needs mix improvement and visible ramps to grow into the multiple.
source: institutional data · regulatory filings · risk analysis
Pay attention to
the number that mattered
gross margin above or below ~30.5%
This is the easiest way to tell whether Himax is getting better mix or just treading water. A premium multiple without margin improvement is a short romance.
next catalyst
q1 2026 earnings report
The next report needs to show more than a headline beat. You want to see whether revenue can move above the recent $203.1M quarterly level.
product trend
OLED Touch IC showing up in real sales
Mass production started in Q1 2026. The next step is simple: does it become visible in revenue mix, or does it stay a story investors tell themselves.
risk check
whether the 33% rally fades as quickly as it arrived
Price stability is 15/100. That does not tell you direction, but it does tell you this stock does not move like a utility bill.
Analyst rankings
earnings predictability
35 / 100
in human-speak, analysts should not act surprised if quarterly results swing around.
price stability
15 / 100
This has been a volatile stock. If you want smooth compounding, this is the wrong aisle.
source: institutional data
Institutional activity
institutional ownership data for HIMX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$7.72
current price
n/a
target midpoint · n/a from current
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