HE Stock Analysis: Hawaiian Electric Industries | NYSE
Utilities - Regulated Electric | NYSE, USA | Market Cap: 2.305m USD | 12M Return: 25.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 22.5M
EPS Trend: -94.8%
Qual. Beats: -1
Rev. Trend: -76.5%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Hawaiian Electric Industries, Inc. (NYSE: HE) is a holding company whose subsidiaries operate an integrated electric utility serving the Hawaiian islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Founded in 1891 and headquartered in Honolulu, the company generates, transmits, distributes, and sells electricity, while pursuing generation from renewable sources including wind, solar, geothermal, wave, hydroelectric, and biofuels. Its customer base includes suburban residential communities, resorts, U.S. Armed Forces installations, and agricultural operations. The company also invests in non-regulated renewable energy and sustainable infrastructure within the state.
As a regulated electric utility, HE operates an isolated island grid that is not interconnected to the mainland U.S. transmission system, a structural factor that contributes to higher per-kilowatthour generation costs. Hawaii has statutory clean energy targets, including a mandate for 100% renewable electricity generation, which has shaped HEs capital spending toward renewable integration and grid modernization. The Public Utilities Commission of the State of Hawaii regulates the companys retail rates and service territory.
- Maui wildfire litigation drives massive liability uncertainty
- Hawaii PUC rate case decisions impact allowed earnings
- Renewable energy mandate requires heavy capital spending
| Net Income: 129.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -0.44 > 1.0 |
| NWC/Revenue: 14.96% < 20% (prev 13.07%; Δ 1.89% < -1%) |
| CFO/TA 0.05 > 3% & CFO 402.4m > Net Income 129.6m |
| Net Debt (3.03b) to EBITDA (556.7m): 5.45 < 3 |
| Current Ratio: 1.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (173.3m) vs 12m ago 0.30% < -2% |
| Gross Margin: 7.32% > 18% (prev -56.10%; Δ 63.43% > 0.5%) |
| Asset Turnover: 34.95% > 50% (prev 33.82%; Δ 1.12% > 0%) |
| Interest Coverage Ratio: 2.57 > 6 (EBIT TTM 281.7m / Interest Expense TTM 109.7m) |
| A: 0.05 (Total Current Assets 1.83b - Total Current Liabilities 1.37b) / Total Assets 8.91b |
| B: -0.07 (Retained Earnings -635.2m / Total Assets 8.91b) |
| C: 0.03 (EBIT TTM 281.7m / Avg Total Assets 8.84b) |
| D: 0.23 (Book Value of Equity 1.64b / Total Liabilities 7.28b) |
| Altman-Z'' = 0.56 = B |
| DSRI: 0.98 (Receivables 452.2m/444.0m, Revenue 3.09b/2.96b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.27 (AQ_t 0.09 / AQ_t-1 0.07) |
| SGI: 1.04 (Revenue 3.09b / 2.96b) |
| TATA: -0.03 (NI 129.6m - CFO 402.4m) / TA 8.91b) |
| Beneish M = -2.86 (Cap -4..+1) = A |
As of July 09, 2026, the stock is trading at USD 13.54 with a total of 1,452,361 shares traded. Over the past week, the price has changed by +0.07%, over one month by +0.67%, over three months by -12.81% and over the past year by +25.25%.
Current recommended Stop Loss: 12.60 (which is 6.9% or 2.8 ATR below the current price).
Hawaiian Electric Industries has received a consensus analysts rating of 2.33. Therefore, it is recommended to sell HE.
- StrongBuy: 0
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 12.8 | -5.8% |
P/E Trailing = 18.0405
P/E Forward = 12.8535
P/S = 0.746
P/B = 1.4371
P/EG = 2.3379
Revenue TTM = 3.09b USD
EBIT TTM = 281.7m USD
EBITDA TTM = 556.7m USD
Long Term Debt = 2.28b USD (from longTermDebt, last quarter)
Short Term Debt = 125.0m USD (from shortTermDebt, last quarter)
Debt = 3.49b USD (from shortLongTermDebtTotal, last quarter) + Leases 541.1m
Net Debt = 3.03b USD (calculated: Debt 3.49b - CCE 452.8m)
Enterprise Value = 5.34b USD (2.30b + Debt 3.49b - CCE 452.8m)
Interest Coverage Ratio = 2.57 (Ebit TTM 281.7m / Interest Expense TTM 109.7m)
EV/FCF = 120.7x (Enterprise Value 5.34b / FCF TTM 44.2m)
FCF Yield = 0.83% (FCF TTM 44.2m / Enterprise Value 5.34b)
FCF Margin = 1.43% (FCF TTM 44.2m / Revenue TTM 3.09b)
Net Margin = 4.19% (Net Income TTM 129.6m / Revenue TTM 3.09b)
Gross Margin = 7.32% ((Revenue TTM 3.09b - Cost of Revenue TTM 2.86b) / Revenue TTM)
Gross Margin QoQ = 7.15% (prev 8.33%)
Tobins Q-Ratio = 0.60 (Enterprise Value 5.34b / Total Assets 8.91b)
Interest Expense / Debt = 3.14% (Interest Expense 109.7m / Debt 3.49b)
Taxrate = 24.65% (42.4m / 172.0m)
NOPAT = 212.2m (EBIT 281.7m * (1 - 24.65%))
Current Ratio = 1.34 (Total Current Assets 1.83b / Total Current Liabilities 1.37b)
Debt / Equity = 2.13 (Debt 3.49b / totalStockholderEquity, last quarter 1.64b)
Debt / EBITDA = 5.45 (Net Debt 3.03b / EBITDA 556.7m)
Debt / FCF = 68.60 (Net Debt 3.03b / FCF TTM 44.2m)
Total Stockholder Equity = 1.60b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.47% (Net Income 129.6m / Total Assets 8.91b)
RoE = 8.09% (Net Income TTM 129.6m / Total Stockholder Equity 1.60b)
RoCE = 7.25% (EBIT 281.7m / Capital Employed (Equity 1.60b + L.T.Debt 2.28b))
RoIC = 2.82% (NOPAT 212.2m / Invested Capital 7.52b)
WACC = 3.34% (E(2.30b)/V(5.79b) * Re(4.81%) + D(3.49b)/V(5.79b) * Rd(3.14%) * (1-Tc(0.25)))
Discount Rate = 4.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 77.78 | Cagr: 22.25%
[DCF] Terminal Value 73.10% ; FCFF base≈59.5m ; Y1≈52.2m ; Y5≈42.1m
[DCF] Fair Price = N/A (negative equity: EV 676.5m - Net Debt 3.03b = -2.36b; debt exceeds intrinsic value)
EPS Correlation: -94.81 | EPS CAGR: -35.12% | SUE: -1.00 | # QB: -1
Revenue Correlation: -76.49 | Revenue CAGR: -8.00% | SUE: 1.39 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.17 | Chg30d=-12.37% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.21 | Chg30d=+15.38% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=0.97 | Chg30d=-0.31% | Revisions=+0% | GrowthEPS=+13.1% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=1.13 | Chg30d=-0.03% | Revisions=-40% | GrowthEPS=+16.0% | GrowthRev=+4.9%
[Analyst] Revisions Ratio: -22% (up=2, down=4)