HAWAIIAN ELECTRIC INDS (HE) Stock Fundamental Analysis

NYSE:HE • US4198701009

16.82 USD
+0.52 (+3.19%)
At close: Feb 13, 2026
16.82 USD
0 (0%)
After Hours: 2/13/2026, 8:14:41 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to HE. HE was compared to 46 industry peers in the Electric Utilities industry. While HE seems to be doing ok healthwise, there are quite some concerns on its profitability. HE has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • HE had positive earnings in the past year.
  • In the past year HE had a positive cash flow from operations.
  • Of the past 5 years HE 4 years were profitable.
  • 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 0 500M -500M -1B

1.2 Ratios

  • HE's Return On Assets of 0.17% is on the low side compared to the rest of the industry. HE is outperformed by 93.48% of its industry peers.
  • The Return On Equity of HE (0.95%) is worse than 93.48% of its industry peers.
  • HE's Return On Invested Capital of 2.25% is on the low side compared to the rest of the industry. HE is outperformed by 89.13% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for HE is below the industry average of 4.58%.
  • The 3 year average ROIC (1.99%) for HE is below the current ROIC(2.25%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.17%
ROE 0.95%
ROIC 2.25%
ROA(3y)-4.44%
ROA(5y)-2.09%
ROE(3y)-25.02%
ROE(5y)-11.32%
ROIC(3y)1.99%
ROIC(5y)1.95%
HE Yearly ROA, ROE, ROICHE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60 -80

1.3 Margins

  • The Profit Margin of HE (0.55%) is worse than 91.30% of its industry peers.
  • HE has a Operating Margin of 8.33%. This is amonst the worse of the industry: HE underperforms 84.78% of its industry peers.
  • HE's Operating Margin has declined in the last couple of years.
Industry RankSector Rank
OM 8.33%
PM (TTM) 0.55%
GM N/A
OM growth 3Y-17.69%
OM growth 5Y-9.56%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
HE Yearly Profit, Operating, Gross MarginsHE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20 -30 -40

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HE is destroying value.
  • Compared to 1 year ago, HE has more shares outstanding
  • HE has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for HE is higher compared to a year ago.
HE Yearly Shares OutstandingHE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 5B 10B 15B

2.2 Solvency

  • Based on the Altman-Z score of 0.60, we must say that HE is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 0.60, HE is not doing good in the industry: 71.74% of the companies in the same industry are doing better.
  • HE has a debt to FCF ratio of 36.77. This is a negative value and a sign of low solvency as HE would need 36.77 years to pay back of all of its debts.
  • HE has a better Debt to FCF ratio (36.77) than 78.26% of its industry peers.
  • HE has a Debt/Equity ratio of 1.76. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.76, HE is not doing good in the industry: 67.39% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.76
Debt/FCF 36.77
Altman-Z 0.6
ROIC/WACC0.58
WACC3.87%
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 0 1B 2B 3B

2.3 Liquidity

  • HE has a Current Ratio of 2.20. This indicates that HE is financially healthy and has no problem in meeting its short term obligations.
  • HE has a Current ratio of 2.20. This is amongst the best in the industry. HE outperforms 93.48% of its industry peers.
  • HE has a Quick Ratio of 2.20. This indicates that HE is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of HE (2.20) is better than 93.48% of its industry peers.
Industry RankSector Rank
Current Ratio 2.2
Quick Ratio 2.2
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 500M 1B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. Growth

3.1 Past

  • The earnings per share for HE have decreased strongly by -55.19% in the last year.
  • Measured over the past years, HE shows a decrease in Earnings Per Share. The EPS has been decreasing by -4.97% on average per year.
  • Looking at the last year, HE shows a very negative growth in Revenue. The Revenue has decreased by -24.97% in the last year.
  • HE shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.30% yearly.
EPS 1Y (TTM)-55.19%
EPS 3Y-11.55%
EPS 5Y-4.97%
EPS Q2Q%-58.7%
Revenue 1Y (TTM)-24.97%
Revenue growth 3Y4.15%
Revenue growth 5Y2.3%
Sales Q2Q%-15.75%

3.2 Future

  • HE is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -8.98% yearly.
  • Based on estimates for the next years, HE will show a small growth in Revenue. The Revenue will grow by 1.72% on average per year.
EPS Next Y-37.76%
EPS Next 2Y-19.44%
EPS Next 3Y-13.03%
EPS Next 5Y-8.98%
Revenue Next Year-1.71%
Revenue Next 2Y0.15%
Revenue Next 3Y0.9%
Revenue Next 5Y1.72%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • 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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Find the best growth stocksShow best growing peers

4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 20.51 indicates a rather expensive valuation of HE.
  • Compared to the rest of the industry, the Price/Earnings ratio of HE is on the same level as its industry peers.
  • HE is valuated rather cheaply when we compare the Price/Earnings ratio to 27.97, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 16.72, the valuation of HE can be described as correct.
  • Based on the Price/Forward 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/Forward Earnings ratio of 27.96, HE is valued a bit cheaper.
Industry RankSector Rank
PE 20.51
Fwd PE 16.72
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as HE.
  • 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 36.21
EV/EBITDA 10.79
HE Per share dataHE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • A cheap valuation may be justified as HE's earnings are expected to decrease with -13.03% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-19.44%
EPS Next 3Y-13.03%

More info and screens

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

0

5. Dividend

5.1 Amount

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

More info and screens

Find the best dividend stocksShow peers with best dividend

HAWAIIAN ELECTRIC INDS

NYSE:HE (2/13/2026, 8:14:41 PM)

After market: 16.82 0 (0%)

16.82

+0.52 (+3.19%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)11-07
Earnings (Next)02-27
Inst Owners80.77%
Inst Owner Change1.33%
Ins Owners0.19%
Ins Owner Change-1.81%
Market Cap2.90B
Revenue(TTM)2.77B
Net Income(TTM)15.26M
Analysts42
Price Target13.01 (-22.65%)
Short Float %12.4%
Short Ratio5.07
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0.01
Dividend Growth(5Y)-59.93%
DP12.39%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)99%
Min EPS beat(2)6.69%
Max EPS beat(2)191.32%
EPS beat(4)2
Avg EPS beat(4)35.59%
Min EPS beat(4)-51.9%
Max EPS beat(4)191.32%
EPS beat(8)2
Avg EPS beat(8)11.33%
EPS beat(12)3
Avg EPS beat(12)5.73%
EPS beat(16)6
Avg EPS beat(16)7.2%
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)15.91%
PT rev (3m)14.61%
EPS NQ rev (1m)-57.17%
EPS NQ rev (3m)-72.83%
EPS NY rev (1m)-6.02%
EPS NY rev (3m)-5.39%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.03%
Valuation
Industry RankSector Rank
PE 20.51
Fwd PE 16.72
P/S 1.05
P/FCF 36.21
P/OCF 6.89
P/B 1.82
P/tB 1.82
EV/EBITDA 10.79
EPS(TTM)0.82
EY4.88%
EPS(NY)1.01
Fwd EY5.98%
FCF(TTM)0.46
FCFY2.76%
OCF(TTM)2.44
OCFY14.51%
SpS16.04
BVpS9.26
TBVpS9.26
PEG (NY)N/A
PEG (5Y)N/A
Graham Number13.07
Profitability
Industry RankSector Rank
ROA 0.17%
ROE 0.95%
ROCE 2.77%
ROIC 2.25%
ROICexc 2.41%
ROICexgc 2.77%
OM 8.33%
PM (TTM) 0.55%
GM N/A
FCFM 2.9%
ROA(3y)-4.44%
ROA(5y)-2.09%
ROE(3y)-25.02%
ROE(5y)-11.32%
ROIC(3y)1.99%
ROIC(5y)1.95%
ROICexc(3y)2.09%
ROICexc(5y)2.03%
ROICexgc(3y)2.33%
ROICexgc(5y)2.25%
ROCE(3y)2.54%
ROCE(5y)2.47%
ROICexgc growth 3Y8.08%
ROICexgc growth 5Y3.01%
ROICexc growth 3Y6.51%
ROICexc growth 5Y2.51%
OM growth 3Y-17.69%
OM growth 5Y-9.56%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 1.76
Debt/FCF 36.77
Debt/EBITDA 5.8
Cap/Depr 134.96%
Cap/Sales 12.32%
Interest Coverage 4191.95
Cash Conversion 87.17%
Profit Quality 525.51%
Current Ratio 2.2
Quick Ratio 2.2
Altman-Z 0.6
F-Score6
WACC3.87%
ROIC/WACC0.58
Cap/Depr(3y)144.45%
Cap/Depr(5y)144.46%
Cap/Sales(3y)11.17%
Cap/Sales(5y)11.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-55.19%
EPS 3Y-11.55%
EPS 5Y-4.97%
EPS Q2Q%-58.7%
EPS Next Y-37.76%
EPS Next 2Y-19.44%
EPS Next 3Y-13.03%
EPS Next 5Y-8.98%
Revenue 1Y (TTM)-24.97%
Revenue growth 3Y4.15%
Revenue growth 5Y2.3%
Sales Q2Q%-15.75%
Revenue Next Year-1.71%
Revenue Next 2Y0.15%
Revenue Next 3Y0.9%
Revenue Next 5Y1.72%
EBIT growth 1Y-34.85%
EBIT growth 3Y-14.27%
EBIT growth 5Y-7.48%
EBIT Next Year50.64%
EBIT Next 3Y17.87%
EBIT Next 5Y12.29%
FCF growth 1Y-69.91%
FCF growth 3Y32.77%
FCF growth 5Y21.1%
OCF growth 1Y-41.22%
OCF growth 3Y9.07%
OCF growth 5Y-1%

HAWAIIAN ELECTRIC INDS / HE FAQ

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

ChartMill assigns a fundamental rating of 3 / 10 to HE.


Can you provide the valuation status for HAWAIIAN ELECTRIC INDS?

ChartMill assigns a valuation rating of 4 / 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 20.51 and the Price/Book (PB) ratio is 1.82.


How financially healthy is HAWAIIAN ELECTRIC INDS?

The financial health rating of HAWAIIAN ELECTRIC INDS (HE) is 4 / 10.