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Hawaiian Electric Industries, Inc.
HE · Price history
Price at last available close
$8.55
−$0.39 (-4.36%) 1M
2026-10-29
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Company & revenue
About Hawaiian Electric Industries, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Hawaiian Electric Industries, Inc. (HE) operates as a diversified holding company primarily focused on three key areas within the state of Hawaii: electric utility services, banking, and investments in renewable and sustainable infrastructure. The company's Electric Utility division is responsible for the generation, acquisition, transmission, distribution, and sale of electricity across several Hawaiian islands, including Oahu, Hawaii, Maui, Lanai, and Molokai. This segment utilizes and explores various clean energy sources, such as wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels.
How they make money
Hawaiian Electric Industries, Inc. operates primarily as a holding company for its regulated electric utility subsidiary, Hawaiian Electric Company, Inc. The utility generates revenue by providing electricity to customers across the islands of Oahu, Hawaii, Maui, Lanai, and Molokai, with rates set and regulated by the Hawaii Public Utilities Commission.
Products & services
Generation, transmission, distribution, and sale of electricity to residential, commercial, and industrial customers in Hawaii.
Brands & revenue mix
The primary brand under which the regulated electric utility operations are conducted.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company serves a broad base of residential, commercial, and industrial customers across Hawaii and does not rely on any single customer for a significant portion of its total revenue.
Suppliers, materials & equipment
- Fuel suppliers — The company relies on various suppliers for the purchase of fuel, including low-sulfur fuel oil and biodiesel, used in electricity generation.Source
Strengths
- Exclusive franchise service territory in HawaiiSource
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
47
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
36
Poor
Financial Strength
63
Business Quality / Moat
0
Management
39
Growth Quality
38
Risk / Durability
35
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
55
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
52/100
Building Historical Record
Model Score 52/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •Material dilution — approximately 36.3% share-count growth
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for HE
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can HE maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is HE's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is HE's debt load manageable relative to cash generation, interest costs and upcoming maturities?
Essential Investment Snapshot
Wall Street Score
47
Opportunity Score
55
Market Cap
$1.48B
P/E Ratio
6.9
EPS
$1.30
52-Week High
$17.38
52-Week Low
$8.76
Beta
0.49
Intrinsic Value
$11.05
Analyst Target
$8.88
Shares Outstanding
173.0M
Total Revenue
$3.28B
Total Debt
$2.82B
Dividend
No current dividend
Liquidation Value / Share
$10.19
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for HE
Detected from reported data — verify before acting.Material dilution — approximately 36.3% share-count growth
Diluted shares outstanding grew ~36.3% year-over-year. Substantial dilution reduces per-share value and can signal financing stress. Wall Street Score is capped.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on HE.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Exclusive franchise service territory in Hawaii.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Regulated Electric industry.
- −Wildfire-related litigation and liability exposure.
- −Regulatory and legislative changes impacting rate recovery.
- −Climate change and extreme weather events.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
47
Sep 28, 2026
Change
-0.6
points
Current Score
47
Oct 1, 2026
Category Changes
HE decreased 0.6 points because Valuation declined by 2 points.
Negative Contributors
- − Valuation declined by 2 points
Projected Score
Projected Score
50
Projected Change
+3.4 points
Preliminary comparable-period financial changes suggest improvement of approximately 3.4 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
UndervaluedCurrent Price
$8.55
Model Intrinsic Value
$11.05
Difference
−$2.50
-22.6% vs IV
Margin of Safety
22.6%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.28B | $3.09B | $3.22B | $3.29B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $2.91B | $2.85B | $4.93B | $2.66B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $376.7M | $235.3M | -$1.71B | $627.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $0.00 | $0.00 | $0.00 | $4.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $0.00 | $0.00 | $0.00 | $352.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $1.01B | $539.4M | -$1.39B | $561.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $376.7M | $235.3M | -$1.71B | $275.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $132.3M | $112.5M | $121.7M | $120.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $296.7M | $166.9M | -$1.79B | $180.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $70.4M | $40.6M | -$471.0M | $34.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $226.2M | $126.3M | -$1.42B | $199.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $1.30 | $0.71 | $-11.23 | $1.82 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 173M | 173M | 127M | 110M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 173M | 173M | 127M | 110M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$939.7M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.71
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+9.7%
Cash Change
-62.5%
Margin Change
+9.6 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
What Weakened
- Cash position declined
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, net income margin. Pressure indicators included cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 25.9%. EPS increased 373.3%. Cash declined 62.5%. Total debt increased 9.7%. Net income margin improved by 9.6 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Log in to view dividend history.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · HE
Corporate developments & opportunities
No reviewed developments match this filter.
The reliability percentage measures the strength of the supporting evidence—not the probability that the event will occur or that the stock will rise. Rumor Mill is separate from the WSS score.
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