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Semiconductors · Technology · Fiscal year ends Dec 31
Himax Technologies reported revenue of $832M in the fiscal year ended Dec 2025, down 8.2% from the year before. Operating income was $44M, an operating margin of 5.3%, and net income was $45M. Operating cash flow of $140M less capital expenditure of $20M left free cash flow of $120M.
Ranks among the 51 semiconductors companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,547 | 1,201 | 945 | 907 | 832 |
| Cost of revenue | 799 | 714 | 682 | 631 | 578 |
| Gross profit | 749 | 487 | 263 | 276 | 254 |
| Research & development | 151 | 176 | 171 | 160 | 161 |
| Operating income | 545 | 258 | 43.2 | 68.2 | 44.1 |
| Interest expense | 1.1 | 2.8 | 6.1 | 4.0 | 3.5 |
| Pre-tax income | 545 | 277 | 44.4 | 77.3 | 54.9 |
| Income tax | 111 | 41.1 | −5.0 | −2.4 | 9.6 |
| Net income | 434 | 235 | 49.4 | 79.8 | 45.3 |
| Diluted EPS | 1.25 | 0.68 | 0.14 | 0.23 | 0.13 |
| Diluted shares | 350 | 350 | 350 | 350 | 349 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 336 | 222 | 192 | 218 | 258 |
| Inventory | 199 | 371 | 217 | 159 | 153 |
| Current assets | 1,193 | 1,337 | 1,201 | 1,168 | 1,265 |
| Net PP&E | 133 | 126 | 130 | 121 | 120 |
| Goodwill | 28.1 | 28.1 | 28.1 | 28.1 | 28.1 |
| Total assets | 1,603 | 1,702 | 1,643 | 1,640 | 1,735 |
| Deferred revenue | 37.7 | 49.2 | 17.8 | 10.6 | 3.3 |
| Current liabilities | 601 | 694 | 709 | 707 | 800 |
| Total liabilities | 731 | 808 | 780 | 743 | 833 |
| Shareholders' equity | 870 | 893 | 857 | 890 | 893 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 388 | 82.9 | 153 | 116 | 140 |
| Capital expenditure | 7.6 | 11.8 | 23.4 | 13.1 | 20.1 |
| Free cash flow | 381 | 71.1 | 129 | 103 | 120 |
| Depreciation & amortisation | 21.3 | 21.3 | 20.3 | 22.4 | 22.5 |
| Stock-based compensation | 0.0 | 0.1 | 0.0 | 1.2 | 0.7 |
| Acquisitions | 0.0 | 0.0 | −0.4 | 5.4 | 0.6 |
| Share buybacks | – | 0.0 | 0.0 | 0.8 | 4.5 |
| Dividends paid | 47.4 | 218 | 83.7 | 50.7 | 64.9 |
| Dividend per share | 0.14 | 0.63 | 0.24 | 0.14 | 0.18 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −22.3% | −21.3% | −4.1% | −8.2% |
| Operating income growth (YoY) | – | −52.7% | −83.2% | 57.9% | −35.3% |
| EPS growth (YoY) | – | −45.6% | −79.4% | 64.3% | −43.5% |
| Gross margin | 48.4% | 40.5% | 27.9% | 30.5% | 30.6% |
| Operating margin | 35.2% | 21.4% | 4.6% | 7.5% | 5.3% |
| Net margin | 28.0% | 19.6% | 5.2% | 8.8% | 5.4% |
| Return on equityBlank when equity is negative | 49.9% | 26.4% | 5.8% | 9.0% | 5.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 54.4% | 25.6% | 4.6% | 7.3% | 4.7% |
| Free cash flow margin | 24.6% | 5.9% | 13.7% | 11.3% | 14.4% |
| Cash conversion (CFO ÷ net income) | 0.89x | 0.35x | 3.09x | 1.45x | 3.09x |
| Inventory days | 91 | 190 | 116 | 92 | 96 |
| Interest cover | 507x | 92.6x | 7.11x | 17.0x | 12.6x |
| Current ratio | 1.98x | 1.93x | 1.69x | 1.65x | 1.58x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.