Hawaiian Electric Industries, Inc. (HE) AI Stock Analysis

Hawaiian Electric Industries, Inc. operates across electric utility, banking, and renewable/sustainable infrastructure investment sectors in Hawaii through three distinct segments: Electric Utility, Bank, and Other. The Electric Utility segment manages electricity production, transmission, distribution, and sales across Oahu, Maui, Hawaii, Lanai, and Molokai, serving residential, commercial, resort, military, and agricultural customers using wind, solar, geothermal, hydroelectric, and biofuel sources. The Bank segment operates a community bank with 42 branches offering deposit accounts, residential, commercial, and construction loans. The Other segment invests in non-regulated renewable energy and sustainable infrastructure projects across the state.

Hawaiian Electric recorded a 5-year revenue CAGR of 3.7% from FY2020 to FY2025. Annual revenue grew 10.5% in FY2021 to $2.85B and 20.0% in FY2022 to $3.42B, before declining 3.9% in FY2023 to $3.29B, 2.1% in FY2024 to $3.22B, and 4.1% in FY2025 to $3.09B. Operating margin dropped from 13.5% in FY2021 to -53.0% in FY2024, resulting in net income of -$1.42B. In FY2025, operating margin recovered to 7.6%, yielding net income of $126.3M with an EPS of $0.78. For the latest quarter ended June 30, 2026, quarterly revenue grew 25.9% year-over-year, while quarterly earnings grew 373.3%, bringing trailing twelve months revenue to $3.28B and EPS to $1.30.

As of June 30, 2026, Hawaiian Electric held $238.7M in cash and short-term investments against $2.82B in total debt, resulting in net debt of $2.58B. The current ratio stood at 0.99, while debt-to-equity was 1.60 on shareholders' equity of $1.76B. In FY2025, the company produced $391.1M in operating cash flow and $49.9M in free cash flow. Capital expenditures absorbed $341.2M, while share buybacks totaled $35.4M and dividends paid reached $1.9M. Over the past five years, the company's share count increased 58.1%.

Hawaiian Electric trades at a trailing P/E of 6.6x and a forward P/E of 8.9x, both below the median of its US-listed Utilities peers at 20.6x and 17.2x, respectively. Its price-to-sales of 0.5x is lower than the peer median of 2.4x, while its EV-to-EBITDA of 12.6x sits near the peer median of 12.1x. The company's PEG ratio is 5.54 and price-to-book is 0.9x. Over the past year, the stock returned -23.9% compared to a 16.8% return for the S&P 500, and its 5-year return of -78.0% trails the index's 83.0% gain.

Hawaiian Electric is covered by four Wall Street analysts, with 2 Hold and 2 Strong Sell ratings. The mean price target is $8.62, representing a 0.5% premium to the last close of $8.58. Analysts estimate FY2026 revenue of $3.14B with EPS declining 7.9% to $0.79. For FY2027, consensus estimates project revenue growing 4.2% to $3.28B and EPS rising 28.9% to $1.02. Hawaiian Electric has recorded 0 EPS beats over the last four quarters. The next earnings date is scheduled for November 6, 2026.

This page is an AI-written research summary of Hawaiian Electric Industries, Inc. (HE). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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