HAWAIIAN ELECTRIC INDS (HE) Fundamental Analysis & Valuation

NYSE:HE • US4198701009

Current stock price

14.49 USD
-0.29 (-1.96%)
At close:
14.49 USD
0 (0%)
Pre-Market:

This HE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

2

1. HE Profitability Analysis

1.1 Basic Checks

  • In the past year HE was profitable.
  • In the past year HE had a positive cash flow from operations.
  • HE had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years HE had a positive operating cash flow.
HE Yearly Net Income VS EBIT VS OCF VS FCFHE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M -1B

1.2 Ratios

  • HE has a worse Return On Assets (1.38%) than 86.96% of its industry peers.
  • Looking at the Return On Equity, with a value of 7.67%, HE is doing worse than 78.26% of the companies in the same industry.
  • The Return On Invested Capital of HE (2.11%) is worse than 89.13% of its industry peers.
  • HE had an Average Return On Invested Capital over the past 3 years of 1.95%. This is below the industry average of 4.49%.
  • The 3 year average ROIC (1.95%) for HE is below the current ROIC(2.11%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.38%
ROE 7.67%
ROIC 2.11%
ROA(3y)-4.48%
ROA(5y)-2.08%
ROE(3y)-26.06%
ROE(5y)-11.45%
ROIC(3y)1.95%
ROIC(5y)1.92%
HE Yearly ROA, ROE, ROICHE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -20 -40 -60 -80

1.3 Margins

  • HE's Profit Margin of 3.99% is on the low side compared to the rest of the industry. HE is outperformed by 84.78% of its industry peers.
  • In the last couple of years the Profit Margin of HE has declined.
  • With a Operating Margin value of 7.62%, HE is not doing good in the industry: 84.78% of the companies in the same industry are doing better.
  • In the last couple of years the Operating Margin of HE has declined.
  • The Gross Margin of HE (7.62%) is worse than 78.26% of its industry peers.
  • HE's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 7.62%
PM (TTM) 3.99%
GM 7.62%
OM growth 3Y-9.2%
OM growth 5Y-8.79%
PM growth 3Y-14.77%
PM growth 5Y-12.25%
GM growth 3Y-9.2%
GM growth 5Y-8.79%
HE Yearly Profit, Operating, Gross MarginsHE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20 -30 -40

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5

2. HE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), HE is destroying value.
  • Compared to 1 year ago, HE has about the same amount of shares outstanding.
  • HE has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for HE has been reduced compared to a year ago.
HE Yearly Shares OutstandingHE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
HE Yearly Total Debt VS Total AssetsHE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • Based on the Altman-Z score of 0.61, we must say that HE is in the distress zone and has some risk of bankruptcy.
  • HE has a Altman-Z score of 0.61. This is in the lower half of the industry: HE underperforms 71.74% of its industry peers.
  • HE has a debt to FCF ratio of 58.46. This is a negative value and a sign of low solvency as HE would need 58.46 years to pay back of all of its debts.
  • The Debt to FCF ratio of HE (58.46) is better than 76.09% of its industry peers.
  • A Debt/Equity ratio of 1.74 is on the high side and indicates that HE has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.74, HE is doing worse than 67.39% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.74
Debt/FCF 58.46
Altman-Z 0.61
ROIC/WACC0.53
WACC3.96%
HE Yearly LT Debt VS Equity VS FCFHE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B

2.3 Liquidity

  • HE has a Current Ratio of 2.19. This indicates that HE is financially healthy and has no problem in meeting its short term obligations.
  • HE has a Current ratio of 2.19. This is amongst the best in the industry. HE outperforms 93.48% of its industry peers.
  • HE has a Quick Ratio of 2.19. This indicates that HE is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of HE (2.19) is better than 95.65% of its industry peers.
Industry RankSector Rank
Current Ratio 2.19
Quick Ratio 2.19
HE Yearly Current Assets VS Current LiabilitesHE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B

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3

3. HE Growth Analysis

3.1 Past

  • HE shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -44.52%.
  • Measured over the past years, HE shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -12.94% on average per year.
  • Looking at the last year, HE shows a decrease in Revenue. The Revenue has decreased by -4.13% in the last year.
  • Measured over the past years, HE shows a small growth in Revenue. The Revenue has been growing by 3.65% on average per year.
EPS 1Y (TTM)-44.52%
EPS 3Y-26.88%
EPS 5Y-12.94%
EPS Q2Q%20%
Revenue 1Y (TTM)-4.13%
Revenue growth 3Y-6.21%
Revenue growth 5Y3.65%
Sales Q2Q%0.83%

3.2 Future

  • The Earnings Per Share is expected to grow by 5.09% on average over the next years.
  • Based on estimates for the next years, HE will show a small growth in Revenue. The Revenue will grow by 2.60% on average per year.
EPS Next Y20.57%
EPS Next 2Y9.98%
EPS Next 3Y5.96%
EPS Next 5Y5.09%
Revenue Next Year-0.58%
Revenue Next 2Y1.06%
Revenue Next 3Y1.57%
Revenue Next 5Y2.6%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
HE Yearly Revenue VS EstimatesHE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1B 2B 3B 4B
HE Yearly EPS VS EstimatesHE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5 2

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6

4. HE Valuation Analysis

4.1 Price/Earnings Ratio

  • HE is valuated correctly with a Price/Earnings ratio of 16.85.
  • Based on the Price/Earnings ratio, HE is valued a bit cheaper than 60.87% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.11, HE is valued a bit cheaper.
  • HE is valuated correctly with a Price/Forward Earnings ratio of 13.97.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HE indicates a somewhat cheap valuation: HE is cheaper than 67.39% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of HE to the average of the S&P500 Index (24.12), we can say HE is valued slightly cheaper.
Industry RankSector Rank
PE 16.85
Fwd PE 13.97
HE Price Earnings VS Forward Price EarningsHE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, HE is valued a bit cheaper than 67.39% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, HE is valued cheaply inside the industry as 80.43% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 50.15
EV/EBITDA 9.92
HE Per share dataHE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • HE's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.82
PEG (5Y)N/A
EPS Next 2Y9.98%
EPS Next 3Y5.96%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. HE Dividend Analysis

5.1 Amount

  • HE does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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HE Fundamentals: All Metrics, Ratios and Statistics

HAWAIIAN ELECTRIC INDS

NYSE:HE (3/17/2026, 8:21:26 PM)

Premarket: 14.49 0 (0%)

14.49

-0.29 (-1.96%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)02-27
Earnings (Next)05-07
Inst Owners88.6%
Inst Owner Change-1.76%
Ins Owners0.19%
Ins Owner Change-0.52%
Market Cap2.50B
Revenue(TTM)3.09B
Net Income(TTM)123.12M
Analysts38
Price Target13.01 (-10.21%)
Short Float %12.41%
Short Ratio6.9
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0.01
Dividend Growth(5Y)-61.73%
DP1.54%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)94.71%
Min EPS beat(2)-1.89%
Max EPS beat(2)191.32%
EPS beat(4)2
Avg EPS beat(4)48.09%
Min EPS beat(4)-3.75%
Max EPS beat(4)191.32%
EPS beat(8)2
Avg EPS beat(8)11.7%
EPS beat(12)3
Avg EPS beat(12)6.22%
EPS beat(16)5
Avg EPS beat(16)6.06%
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)15.91%
EPS NQ rev (1m)4.89%
EPS NQ rev (3m)4.89%
EPS NY rev (1m)3.07%
EPS NY rev (3m)2.37%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.57%
Revenue NY rev (3m)-2.59%
Valuation
Industry RankSector Rank
PE 16.85
Fwd PE 13.97
P/S 0.81
P/FCF 50.15
P/OCF 6.4
P/B 1.56
P/tB 1.56
EV/EBITDA 9.92
EPS(TTM)0.86
EY5.94%
EPS(NY)1.04
Fwd EY7.16%
FCF(TTM)0.29
FCFY1.99%
OCF(TTM)2.27
OCFY15.63%
SpS17.88
BVpS9.3
TBVpS9.3
PEG (NY)0.82
PEG (5Y)N/A
Graham Number13.42
Profitability
Industry RankSector Rank
ROA 1.38%
ROE 7.67%
ROCE 2.79%
ROIC 2.11%
ROICexc 2.24%
ROICexgc 2.54%
OM 7.62%
PM (TTM) 3.99%
GM 7.62%
FCFM 1.62%
ROA(3y)-4.48%
ROA(5y)-2.08%
ROE(3y)-26.06%
ROE(5y)-11.45%
ROIC(3y)1.95%
ROIC(5y)1.92%
ROICexc(3y)2.08%
ROICexc(5y)2.01%
ROICexgc(3y)2.35%
ROICexgc(5y)2.24%
ROCE(3y)2.61%
ROCE(5y)2.59%
ROICexgc growth 3Y8.15%
ROICexgc growth 5Y6.58%
ROICexc growth 3Y6.44%
ROICexc growth 5Y6.26%
OM growth 3Y-9.2%
OM growth 5Y-8.79%
PM growth 3Y-14.77%
PM growth 5Y-12.25%
GM growth 3Y-9.2%
GM growth 5Y-8.79%
F-Score7
Asset Turnover0.35
Health
Industry RankSector Rank
Debt/Equity 1.74
Debt/FCF 58.46
Debt/EBITDA 5.63
Cap/Depr 131.22%
Cap/Sales 11.05%
Interest Coverage 2307.08
Cash Conversion 78.95%
Profit Quality 40.51%
Current Ratio 2.19
Quick Ratio 2.19
Altman-Z 0.61
F-Score7
WACC3.96%
ROIC/WACC0.53
Cap/Depr(3y)143.41%
Cap/Depr(5y)138.46%
Cap/Sales(3y)11.79%
Cap/Sales(5y)11.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-44.52%
EPS 3Y-26.88%
EPS 5Y-12.94%
EPS Q2Q%20%
EPS Next Y20.57%
EPS Next 2Y9.98%
EPS Next 3Y5.96%
EPS Next 5Y5.09%
Revenue 1Y (TTM)-4.13%
Revenue growth 3Y-6.21%
Revenue growth 5Y3.65%
Sales Q2Q%0.83%
Revenue Next Year-0.58%
Revenue Next 2Y1.06%
Revenue Next 3Y1.57%
Revenue Next 5Y2.6%
EBIT growth 1Y-27.65%
EBIT growth 3Y-14.85%
EBIT growth 5Y-5.45%
EBIT Next Year74.98%
EBIT Next 3Y27.46%
EBIT Next 5Y18.68%
FCF growth 1Y-65.18%
FCF growth 3Y-23.29%
FCF growth 5Y1.85%
OCF growth 1Y-19.78%
OCF growth 3Y-4.89%
OCF growth 5Y-1.85%

HAWAIIAN ELECTRIC INDS / HE Fundamental Analysis FAQ

What is the ChartMill fundamental rating of HAWAIIAN ELECTRIC INDS (HE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to HE.


Can you provide the valuation status for HAWAIIAN ELECTRIC INDS?

ChartMill assigns a valuation rating of 6 / 10 to HAWAIIAN ELECTRIC INDS (HE). This can be considered as Fairly Valued.


Can you provide the profitability details for HAWAIIAN ELECTRIC INDS?

HAWAIIAN ELECTRIC INDS (HE) has a profitability rating of 2 / 10.


Can you provide the PE and PB ratios for HE stock?

The Price/Earnings (PE) ratio for HAWAIIAN ELECTRIC INDS (HE) is 16.85 and the Price/Book (PB) ratio is 1.56.


How financially healthy is HAWAIIAN ELECTRIC INDS?

The financial health rating of HAWAIIAN ELECTRIC INDS (HE) is 5 / 10.