Himax Technologies stock: fair value
HIMXThe fair value of Himax Technologies under our model is $7.96, the price is 13% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $5.31 and expensive above $15.93 (uncertainty very high, based on the price swings of the past year).
The two parts of the fair value come to $3.77 (cash-flow model) and $12.16 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 13.9%. At 14.9% the fair value would be $7.81, at 12.9% it would be $8.15.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (40.2).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 13.9% (government bond yield 3.8% plus beta 2 times a risk premium of 5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $3.77 per share: free cash flow for the next ten years, each year discounted to today at 13.9%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 13.9%) |
|---|---|---|---|---|
| 2026 | $97.68M | extrapolated at −19.3% | 0.8783 | $85.8M |
| 2027 | $85.59M | extrapolated at −12.4% | 0.7715 | $66.03M |
| 2028 | $79.16M | extrapolated at −7.5% | 0.6776 | $53.64M |
| 2029 | $75.9M | extrapolated at −4.1% | 0.5952 | $45.18M |
| 2030 | $74.59M | extrapolated at −1.7% | 0.5228 | $39M |
| 2031 | $74.54M | extrapolated at −0.1% | 0.4592 | $34.23M |
| 2032 | $75.37M | extrapolated at 1.1% | 0.4033 | $30.4M |
| 2033 | $76.82M | extrapolated at 1.9% | 0.3543 | $27.21M |
| 2034 | $78.73M | extrapolated at 2.5% | 0.3112 | $24.5M |
| 2035 | $81.01M | extrapolated at 2.9% | 0.2733 | $22.14M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $428.14M |
| Terminal value: cash flow 2035 × (1 + 3.8%) / (13.9% − 3.8%) | $839.49M |
| Present value of terminal value (× 0.2733) | $229.45M |
| Equity value (sum plus present value of terminal value) | $657.59M |
| Shares (diluted) | 174.43M |
| Value per share (equity value divided by shares) | $3.77 |
| Earnings per share, last twelve months | $0.30 |
| × 40.2 (industry P/E) | $12.16 |
| Fair value (average of both parts) | $7.96 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 9 Oct 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.