Discounted Cash Flow

Himax Technologies, Inc. ADR

HIMX · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $802.9m $50.9m $76.8m 6.3% $0.15
2017 $685.2m (-14.7%) $28.0m (-45.1%) $-10.4m (-113.6%) 4.1% (-35.6%) $0.08 (-46.7%)
2018 $723.6m (5.6%) $8.6m (-69.4%) $4.0m (138.4%) 1.2% (-71.0%) $0.02 (-75.0%)
2019 $671.8m (-7.2%) $-13.6m (-258.9%) $7.6m (88.6%) -2.0% (-271.1%) $-0.04 (-300.0%)
2020 $887.3m (32.1%) $47.1m (446.2%) $102.4m (1254.3%) 5.3% (362.1%) $0.14 (450.0%)
2021 $1.5b (74.4%) $436.9m (826.9%) $388.3m (279.3%) 28.2% (431.6%) $1.25 (792.9%)
2022 $1.2b (-22.3%) $237.0m (-45.8%) $70.8m (-81.8%) 19.7% (-30.1%) $0.68 (-45.6%)
2023 $945.4m (-21.3%) $50.6m (-78.6%) $129.3m (82.7%) 5.4% (-72.9%) $0.15 (-77.9%)
2024 $906.8m (-4.1%) $79.8m (57.6%) $102.8m (-20.5%) 8.8% (64.3%) $0.23 (53.3%)
2025 $832.2m (-8.2%) $43.9m (-44.9%) $119.5m (16.3%) 5.3% (-40.0%) $0.13 (-43.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model