Symbols / HE Stock $15.48 +2.04% Hawaiian Electric Industries, Inc.

Utilities • Utilities - Regulated Electric • United States • NYQ
HE (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: SMA 50: SMA 200:
About

Hawaiian Electric Industries, Inc. together with its subsidiaries, engages in the electric utility business. The company engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu; Hawaii; and Maui, Lanai, and Molokai; and renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. It also invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. In addition, the company serves suburban communities, resorts, the United States Armed Forces installations, and agricultural operations. Hawaiian Electric Industries, Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii.

Stock Fundamentals
Scroll to Statements
Market Cap 2.67B Enterprise Value 5.10B Income 123.12M Sales 3.09B Book/sh 9.30 Cash/sh 2.91
Dividend Yield Payout 0.00% Employees 2659 IPO P/E 21.80 Forward P/E 13.50
PEG 2.71 P/S 0.87 P/B 1.66 P/C EV/EBITDA 9.49 EV/Sales 1.65
Quick Ratio 0.70 Current Ratio 1.32 Debt/Eq 186.06 LT Debt/Eq EPS (ttm) 0.71 EPS next Y 1.15
EPS Growth Revenue Growth 0.80% Earnings 2026-05-08 ROA 1.67% ROE 7.89% ROIC
Gross Margin 18.96% Oper. Margin 8.43% Profit Margin 3.99% Shs Outstand 172.62M Shs Float 161.61M Short Float 10.03%
Short Ratio 6.57 Short Interest 52W High 17.38 52W Low 10.03 Beta 0.57 Avg Volume 2.42M
Volume 307.33K Target Price $13.75 Recom Underperform Prev Close $15.17 Price $15.48 Change 2.04%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$13.75
Mean price target
2. Current target
$15.48
Latest analyst target
3. DCF / Fair value
$14.90
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$15.48
Low
$13.50
High
$14.00
Mean
$13.75

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-02 main Barclays Equal-Weight → Equal-Weight $14
2026-01-26 main Barclays Equal-Weight → Equal-Weight $13
2026-01-20 down Jefferies Hold → Underperform $13
2026-01-15 main Barclays Equal-Weight → Equal-Weight $11
2025-12-03 main Jefferies Hold → Hold $12
2025-07-10 main Barclays Equal-Weight → Equal-Weight $10
2025-05-28 main Jefferies Hold → Hold $11
2025-04-14 main Jefferies Hold → Hold $11
2025-03-04 main Barclays Equal-Weight → Equal-Weight $11
2025-02-27 main Wells Fargo Equal-Weight → Equal-Weight $13
2025-02-06 init Barclays — → Equal-Weight $10
2025-01-03 main Jefferies Hold → Hold $11
2024-11-19 main Evercore ISI Group In-Line → In-Line $10
2024-11-11 main Evercore ISI Group In-Line → In-Line $11
2024-09-30 main Wells Fargo Equal-Weight → Equal-Weight $12
2024-09-24 main Evercore ISI Group In-Line → In-Line $9
2024-08-23 up Wells Fargo Underweight → Equal-Weight $14
2024-08-14 main Evercore ISI Group In-Line → In-Line $16
2024-08-12 main Wells Fargo Underweight → Underweight $14
2024-08-05 main Evercore ISI Group In-Line → In-Line $16
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-08-13 FOWLER PEGGY Y Director 11,759 $0.00 $0
2025-06-30 FARGO THOMAS BOULTON Director 11,759 $0.00 $0
2025-06-30 CONNORS CELESTE ANNE Director 11,759 $0.00 $0
2025-06-30 KANE MICAH A. Director 11,759 $0.00 $0
2025-06-30 FLORES ELISIA Director 11,759 $0.00 $0
2025-06-30 FOWLER PEGGY Y Director 11,759 $0.00 $0
2025-06-30 SCILACCI WILLIAM JAMES Director 11,759 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
3,086.90
-4.13%
3,219.85
-2.06%
3,287.50
-3.90%
3,420.92
Operating Revenue
3,071.18
-4.23%
3,206.70
-1.92%
3,269.52
-4.08%
3,408.59
Cost Of Revenue
2,851.57
-42.12%
4,926.61
+63.54%
3,012.51
-4.10%
3,141.36
Reconciled Cost Of Revenue
2,851.57
-42.12%
4,926.61
+63.54%
3,012.51
-4.10%
3,141.36
Gross Profit
235.32
+113.79%
-1,706.76
-720.66%
274.99
-1.63%
279.56
Operating Expense
-15.16
-43.41%
-10.57
Selling General And Administration
-4.77
-8.09%
-4.41
General And Administrative Expense
-4.77
-8.09%
-4.41
Salaries And Wages
-4.77
-8.09%
-4.41
Other Operating Expenses
-15.16
-43.41%
-10.57
Total Expenses
2,851.57
-42.12%
4,926.61
+63.54%
3,012.51
-4.10%
3,141.36
Operating Income
235.32
+113.79%
-1,706.76
-720.66%
274.99
-1.63%
279.56
Total Operating Income As Reported
235.32
+113.79%
-1,706.76
-720.66%
274.99
-1.63%
279.56
EBITDA
577.29
+141.94%
-1,376.33
-335.29%
584.94
+2.20%
572.35
Normalized EBITDA
562.28
+140.45%
-1,390.11
-343.98%
569.77
+1.42%
561.77
Reconciled Depreciation
298.92
+1.83%
293.53
+3.98%
282.31
+4.40%
270.40
EBIT
278.37
+116.67%
-1,669.86
-651.78%
302.63
+0.23%
301.94
Total Unusual Items
15.01
+8.90%
13.79
-9.09%
15.16
+43.41%
10.57
Total Unusual Items Excluding Goodwill
15.01
+8.90%
13.79
-9.09%
15.16
+43.41%
10.57
Special Income Charges
15.01
+8.90%
13.79
-9.09%
15.16
+43.41%
10.57
Other Special Charges
-15.01
-8.90%
-13.79
+9.09%
-15.16
-43.41%
-10.57
Net Income
126.28
+108.87%
-1,424.12
-808.07%
201.13
-17.24%
243.03
Pretax Income
166.93
+109.32%
-1,791.60
-1082.77%
182.30
-9.73%
201.95
Net Non Operating Interest Income Expense
-74.51
+27.22%
-102.38
+7.96%
-111.23
-11.24%
-99.99
Interest Expense Non Operating
111.44
-8.46%
121.74
+1.17%
120.33
+20.35%
99.99
Net Interest Income
-74.51
+27.22%
-102.38
+7.96%
-111.23
-11.24%
-99.99
Interest Expense
111.44
-8.46%
121.74
+1.17%
120.33
+20.35%
99.99
Interest Income Non Operating
36.93
+90.73%
19.36
+112.65%
9.11
0.00
Interest Income
36.93
+90.73%
19.36
+112.65%
9.11
0.00
Other Income Expense
6.12
-65.11%
17.54
-5.36%
18.53
-17.20%
22.39
Other Non Operating Income Expenses
3.48
-7.25%
3.75
-6.48%
4.01
+8.84%
3.69
Gain On Sale Of Security
-15.61
-292.16%
8.12
Gain On Sale Of Business
8.12
Tax Provision
40.65
+108.63%
-470.96
-1463.76%
34.53
-11.26%
38.91
Tax Rate For Calcs
0.00
-7.18%
0.00
+38.77%
0.00
-5.28%
0.00
Tax Effect Of Unusual Items
3.66
+1.08%
3.62
+26.16%
2.87
+35.83%
2.11
Net Income Including Noncontrolling Interests
126.28
+108.87%
-1,424.12
-808.07%
201.13
-17.24%
243.03
Net Income From Continuing Operation Net Minority Interest
126.28
+109.56%
-1,320.63
-993.73%
147.77
-9.37%
163.04
Net Income From Continuing And Discontinued Operation
126.28
+108.87%
-1,424.12
-808.07%
201.13
-17.24%
243.03
Net Income Continuous Operations
126.28
+109.56%
-1,320.63
-993.73%
147.77
-9.37%
163.04
Net Income Discontinuous Operations
0.00
+100.00%
-103.49
-293.93%
53.36
-33.29%
79.99
Normalized Income
114.93
+108.64%
-1,330.80
-1082.32%
135.47
-12.36%
154.58
Net Income Common Stockholders
123.12
+108.63%
-1,426.01
-815.73%
199.24
-17.38%
241.14
Diluted EPS
0.71
+106.32%
-11.23
-720.44%
1.81
-17.73%
2.20
Basic EPS
0.71
+106.32%
-11.23
-717.03%
1.82
-17.27%
2.20
Basic Average Shares
172.55
+35.95%
126.93
+15.66%
109.74
+0.28%
109.43
Diluted Average Shares
173.02
+36.31%
126.93
+15.35%
110.04
+0.24%
109.78
Diluted NI Availto Com Stockholders
123.12
+108.63%
-1,426.01
-815.73%
199.24
-17.38%
241.14
Earnings From Equity Interest
-12.38
0.00
+100.00%
-0.64
-107.93%
8.12
Preferred Stock Dividends
3.16
+67.25%
1.89
+0.00%
1.89
+0.00%
1.89
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
8,922.88
-0.10%
8,931.42
-48.21%
17,243.82
+5.89%
16,284.24
Current Assets
1,884.58
-11.70%
2,134.33
-80.19%
10,772.34
+33.75%
8,054.01
Cash Cash Equivalents And Short Term Investments
501.78
-33.14%
750.53
+207.48%
244.09
-85.02%
1,629.54
Cash And Cash Equivalents
501.78
-33.14%
750.53
+207.48%
244.09
+22.12%
199.88
Other Short Term Investments
1,136.44
-20.51%
1,429.67
Receivables
491.53
+7.51%
457.17
-16.38%
546.70
-91.48%
6,418.59
Accounts Receivable
491.53
+7.51%
457.17
-16.38%
546.70
+6.80%
511.90
Loans Receivable
6,106.44
+3.38%
5,906.69
Restricted Cash
478.97
-2.71%
492.32
+3176.00%
15.03
+197.58%
5.05
Assets Held For Sale Current
56.27
0.00
-100.00%
9,566.45
+1160876.82%
0.82
Other Current Assets
356.04
-18.02%
434.30
+8.56%
400.07
Total Non Current Assets
7,038.30
+3.55%
6,797.09
+5.03%
6,471.48
-21.37%
8,230.23
Net PPE
6,244.98
+0.71%
6,200.87
+2.62%
6,042.77
+4.14%
5,802.69
Gross PPE
9,763.48
+1.92%
9,579.15
+3.18%
9,283.60
+3.21%
8,995.23
Accumulated Depreciation
-3,518.50
-4.15%
-3,378.28
-4.24%
-3,240.83
-1.51%
-3,192.55
Construction In Progress
382.15
+4.29%
366.41
+14.42%
320.23
+9.27%
293.05
Other Properties
9,381.33
+1.83%
9,212.74
+2.78%
8,963.37
+3.00%
8,702.18
Goodwill And Other Intangible Assets
82.19
+0.00%
82.19
Goodwill
82.19
+0.00%
82.19
Investments And Advances
1,216.04
-4.87%
1,278.31
Other Investments
14.73
-44.55%
26.56
Other Non Current Assets
316.04
+20.88%
261.46
+29.21%
202.36
-75.46%
824.54
Total Liabilities Net Minority Interest
7,316.96
-1.36%
7,418.03
-50.10%
14,864.69
+5.56%
14,081.75
Current Liabilities
1,427.74
+7.79%
1,324.59
-86.48%
9,795.31
+2099.41%
445.36
Payables And Accrued Expenses
250.52
+8.61%
230.66
+1.50%
227.24
-16.70%
272.79
Payables
219.06
+7.67%
203.45
+2.30%
198.88
-20.91%
251.46
Accounts Payable
219.06
+7.67%
203.45
+2.30%
198.88
-20.91%
251.46
Current Accrued Expenses
31.46
+15.64%
27.20
-4.06%
28.35
+32.91%
21.33
Employee Benefits
23.66
+1.91%
23.21
-70.32%
78.20
+8.89%
71.81
Current Debt And Capital Lease Obligation
124.96
-20.81%
157.79
+856.56%
16.50
-90.44%
172.57
Current Debt
124.96
-20.81%
157.79
+856.56%
16.50
-90.44%
172.57
Other Current Borrowings
172.57
Other Current Liabilities
1,052.26
+12.40%
936.14
-90.20%
9,551.57
Total Non Current Liabilities Net Minority Interest
5,889.22
-3.35%
6,093.44
+20.20%
5,069.38
-62.82%
13,636.38
Long Term Debt And Capital Lease Obligation
2,833.88
-10.70%
3,173.51
-1.66%
3,227.17
-0.87%
3,255.41
Long Term Debt
2,285.02
-15.07%
2,690.39
-4.80%
2,825.93
-8.25%
3,080.10
Long Term Capital Lease Obligation
548.87
+13.61%
483.12
+20.41%
401.23
+128.87%
175.31
Defined Pension Benefit
219.21
+104.23%
107.33
Non Current Pension And Other Postretirement Benefit Plans
23.66
+1.91%
23.21
-70.32%
78.20
+8.89%
71.81
Non Current Deferred Liabilities
0.00
-100.00%
402.25
+53.26%
262.46
Non Current Deferred Taxes Liabilities
0.00
-100.00%
402.25
+53.26%
262.46
Other Non Current Liabilities
1,639.54
-2.36%
1,679.21
+578.09%
247.64
-97.24%
8,956.75
Preferred Securities Outside Stock Equity
34.29
+0.00%
34.29
Stockholders Equity
1,605.92
+6.11%
1,513.38
-36.39%
2,379.13
+8.02%
2,202.50
Common Stock Equity
1,605.92
+8.57%
1,479.09
-36.92%
2,344.84
+6.46%
2,202.50
Capital Stock
2,268.19
-1.33%
2,298.84
+31.98%
1,741.76
+2.90%
1,692.70
Common Stock
2,268.19
+0.16%
2,264.54
+32.63%
1,707.47
+0.87%
1,692.70
Preferred Stock
0.00
-100.00%
34.29
+0.00%
34.29
0.00
Share Issued
172.62
+0.09%
172.47
+56.57%
110.15
+0.62%
109.47
Ordinary Shares Number
172.62
+0.09%
172.47
+56.57%
110.15
+0.62%
109.47
Retained Earnings
-665.61
+15.63%
-788.92
-185.13%
926.72
+9.56%
845.83
Gains Losses Not Affecting Retained Earnings
3.34
-3.55%
3.46
+101.20%
-289.35
+13.89%
-336.03
Other Equity Adjustments
0.60
-71.70%
2.12
+29.43%
1.64
-17.73%
1.99
Total Equity Gross Minority Interest
1,605.92
+6.11%
1,513.38
-36.39%
2,379.13
+8.02%
2,202.50
Total Capitalization
3,890.93
-7.44%
4,203.77
-19.24%
5,205.07
-1.47%
5,282.60
Working Capital
456.84
-43.58%
809.74
-17.12%
977.04
-87.16%
7,608.65
Invested Capital
4,015.89
-7.20%
4,327.27
-16.58%
5,187.27
-4.91%
5,455.17
Total Debt
2,958.84
-11.18%
3,331.30
+2.70%
3,243.66
-5.38%
3,427.98
Net Debt
1,908.20
-9.03%
2,097.65
-19.27%
2,598.34
-14.89%
3,052.79
Capital Lease Obligations
548.87
+13.61%
483.12
+20.41%
401.23
+128.87%
175.31
Net Tangible Assets
1,605.92
+6.11%
1,513.38
-36.39%
2,379.13
+12.21%
2,120.31
Tangible Book Value
1,605.92
+8.57%
1,479.09
-36.92%
2,344.84
+10.59%
2,120.31
Available For Sale Securities
1,428.50
Held To Maturity Securities
1,201.31
-4.03%
1,251.75
Interest Payable
31.46
+15.64%
27.20
-4.06%
28.35
+32.91%
21.33
Investmentin Financial Assets
1,201.31
-4.03%
1,251.75
Minimum Pension Liabilities
2.74
+104.18%
1.34
+116.71%
-8.03
+11.96%
-9.12
Preferred Stock Equity
34.29
+0.00%
34.29
Unrealized Gain Loss
0.00
0.00
+100.00%
-282.96
+13.97%
-328.90
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
391.07
-19.78%
487.48
-11.60%
551.47
+21.34%
454.48
Cash Flow From Continuing Operating Activities
391.07
-8.65%
428.11
-3.44%
443.37
+32.87%
333.68
Cash From Discontinued Operating Activities
0.00
-100.00%
59.37
-45.08%
108.10
-10.51%
120.79
Net Income From Continuing Operations
126.28
+108.87%
-1,424.12
-808.07%
201.13
-17.24%
243.03
Depreciation Amortization Depletion
298.92
+1.83%
293.53
+3.98%
282.31
+4.40%
270.40
Depreciation
260.02
-0.64%
261.70
+2.63%
254.99
+4.30%
244.48
Amortization Cash Flow
38.90
+22.19%
31.83
+16.53%
27.32
+5.35%
25.93
Depreciation And Amortization
298.92
+1.83%
293.53
+3.98%
282.31
+4.40%
270.40
Amortization Of Intangibles
38.90
+22.19%
31.83
+16.53%
27.32
+5.35%
25.93
Other Non Cash Items
-21.37
-128.15%
75.91
+206.15%
-71.52
+25.42%
-95.89
Stock Based Compensation
3.43
-4.59%
3.59
-47.00%
6.78
-9.05%
7.45
Provisionand Write Offof Assets
2.04
Asset Impairment Charge
39.64
+385.75%
8.16
0.00
Deferred Tax
-10.63
+97.81%
-486.19
-5298.76%
9.35
+128.21%
-33.16
Deferred Income Tax
-10.63
+97.81%
-486.19
-5298.76%
9.35
+128.21%
-33.16
Operating Gains Losses
12.38
-68.78%
39.64
+6055.59%
0.64
+107.93%
-8.12
Gain Loss On Investment Securities
-8.12
Change In Working Capital
-17.93
-100.93%
1,925.74
+13020.81%
14.68
+129.33%
-50.03
Change In Receivables
-51.35
-153.10%
96.70
+234.97%
-71.64
+51.37%
-147.33
Changes In Account Receivables
-51.35
-153.10%
96.70
+234.97%
-71.64
+51.37%
-147.33
Change In Inventory
-30.04
-166.48%
45.18
+431.51%
8.50
+108.90%
-95.53
Change In Prepaid Assets
Change In Payables And Accrued Expense
7.03
+2.48%
6.86
-79.99%
34.29
+48.55%
23.08
Change In Payable
7.03
+2.48%
6.86
-79.99%
34.29
+48.55%
23.08
Change In Account Payable
7.03
+2.48%
6.86
-79.99%
34.29
+48.55%
23.08
Change In Other Working Capital
-9.15
-100.52%
1,751.31
+534034.45%
-0.33
-100.36%
90.25
Change In Other Current Assets
-30.46
-33.94%
-22.74
-114.29%
-10.61
-130.67%
34.60
Change In Other Current Liabilities
96.04
+98.30%
48.43
-11.08%
54.47
+21.35%
44.89
Investing Cash Flow
-322.18
-224.72%
258.32
+200.36%
-257.40
+77.19%
-1,128.68
Cash Flow From Continuing Investing Activities
-322.18
+3.52%
-333.92
+23.44%
-436.17
-24.32%
-350.86
Cash From Discontinued Investing Activities
0.00
-100.00%
592.24
+231.29%
178.77
+122.98%
-777.83
Capital Expenditure
-341.20
+0.89%
-344.25
+22.24%
-442.73
-30.47%
-339.33
Capital Expenditure Reported
-341.20
+0.89%
-344.25
+22.24%
-442.73
-30.47%
-339.33
Net Investment Purchase And Sale
-11.79
Purchase Of Investment
-540.79
Sale Of Investment
528.99
Net Business Purchase And Sale
13.78
0.00
0.00
+100.00%
-25.71
Purchase Of Business
0.00
-25.71
Gain Loss On Sale Of Business
12.38
-68.78%
39.64
+6055.59%
0.64
+107.93%
-8.12
Net Other Investing Changes
5.25
-49.22%
10.33
+57.52%
6.56
-53.76%
14.18
Financing Cash Flow
-331.00
-313.96%
154.71
-20.90%
195.57
-65.55%
567.67
Cash Flow From Continuing Financing Activities
-331.00
-166.53%
497.56
+144.93%
203.14
+3445.85%
5.73
Net Issuance Payments Of Debt
-273.56
-547.90%
-42.22
-114.80%
285.27
+129.96%
124.05
Issuance Of Debt
510.00
+819.33%
55.48
-91.96%
690.00
+99.44%
345.96
Repayment Of Debt
-783.56
-702.03%
-97.70
+75.86%
-404.73
-82.38%
-221.91
Long Term Debt Issuance
510.00
+9215.07%
5.47
-99.12%
625.00
+174.95%
227.31
Long Term Debt Payments
-733.56
-650.85%
-97.70
+41.53%
-167.08
+24.71%
-221.91
Net Long Term Debt Issuance
-223.56
-142.42%
-92.22
-120.14%
457.92
+8376.86%
5.40
Short Term Debt Issuance
0.00
-100.00%
50.00
-23.08%
65.00
-45.22%
118.65
Short Term Debt Payments
-50.00
0.00
+100.00%
-237.65
0.00
Net Short Term Debt Issuance
-50.00
-200.00%
50.00
+128.96%
-172.65
-245.51%
118.65
Net Common Stock Issuance
0.00
-100.00%
556.61
+45412.02%
1.22
0.00
Common Stock Dividend Paid
0.00
0.00
+100.00%
-73.96
+33.51%
-111.23
Cash Dividends Paid
-1.89
+0.00%
-1.89
+97.51%
-75.85
+32.95%
-113.12
Repurchase Of Capital Stock
-35.37
0.00
0.00
Net Other Financing Charges
-20.18
-35.08%
-14.94
-99.11%
-7.50
-44.14%
-5.21
Changes In Cash
-262.11
-126.64%
983.73
+367.68%
210.34
+180.07%
-262.68
Beginning Cash Position
1,242.85
+379.65%
259.12
+431.22%
48.78
-84.34%
311.46
End Cash Position
501.78
-33.14%
750.53
+207.48%
244.09
+458.20%
43.73
Free Cash Flow
49.87
-65.18%
143.23
+31.71%
108.74
-5.56%
115.14
Common Stock Issuance
0.00
-100.00%
556.61
+45412.02%
1.22
0.00
Issuance Of Capital Stock
0.00
-100.00%
556.61
+45412.02%
1.22
0.00
Net Investment Properties Purchase And Sale
3.81
Net Preferred Stock Issuance
-35.37
0.00
0.00
Other Cash Adjustment Outside Changein Cash
-478.97
+2.71%
-492.32
-3176.00%
-15.03
-197.58%
-5.05
Preferred Stock Dividend Paid
-1.89
+0.00%
-1.89
+0.00%
-1.89
+0.00%
-1.89
Preferred Stock Payments
-35.37
0.00
0.00
Purchase Of Investment Properties
Sale Of Business
13.78
0.00
0.00
Sale Of Investment Properties
3.81
Cash Flow From Discontinued Operation
-352.23
-156.15
Cash From Discontinued Financing Activities
0.00
+100.00%
-342.85
-4430.90%
-7.57
-101.35%
561.94
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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