Stocks · Utilities · Regulated Electric

Hawaiian Electric Industries, Inc. HE

$8.90 -0.34% Close, Oct 2, 2026 · NYSE · Market cap $1.54B

Weak trendInexpensive vs sector

Next earnings report: Nov 6, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. Operating margin widened to 11.5% from 1.8% a year earlier.
  2. The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.
  3. The shares trade at 6.8× trailing earnings, lower than 80% of the company's own readings over the past five years.

PromtFinance scores

Each score is a percentile within the Utilities sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.

Growth50Neutral

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Top 23%
  • FCF growth (TTM, YoY)Bottom 30%
  • Revenue growth, 3-year CAGRBottom 9%
  • Revenue growth accelerationTop 4%
Quality13Very weak

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalBottom 46%
  • Gross marginBottom 7%
  • Operating marginBottom 14%
  • Cash conversion (OCF / net income)Bottom 1%
  • Accruals (lower is better)Bottom 1%
  • Net debt / EBITDA (lower is better)Top 8%
  • Interest coverTop 24%
Value83Strong

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldTop 20%
  • Free-cash-flow yieldBottom 11%
  • EBITDA / enterprise valueTop 1%
  • Sales / enterprise valueTop 6%
  • P/E vs own 5-year history (lower is better)Top 48%
Momentum9Very weak

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthTop 45%
  • 6-month returnBottom 2%
  • 1-year return vs S&P 500Bottom 14%
  • Distance from 52-week highBottom 8%
  • Trend checklist (0–4)Bottom 32%
Revisions1Very weak

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

  • Average EPS surprise, last 4 quartersBottom 13%
  • Consecutive EPS beatsBottom 14%
  • Share of analysts rating BuyBottom 3%
  • Upside to consensus price targetBottom 4%
Stability23Very weak

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Bottom 24%
  • Maximum drawdown, 3 yearsBottom 12%
  • Beta vs S&P 500 (lower is better)Bottom 19%
  • Net debt / EBITDA (lower is better)Top 8%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)4.2%12.6%↑
Gross margin1.8%11.5%↑
Operating margin1.8%11.5%↑
FCF margin5.3%-17.2%↓

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)12.6%4.2%↑Top 23%
Gross margin11.5%1.8%↑Bottom 7%
Operating margin11.5%1.8%↑Bottom 14%
Net margin6.9%-4.0%↑—
Free-cash-flow margin-17.2%5.3%↓—
Return on invested capital4.0%—Bottom 46%
Revenue growth, 3-year CAGR-3.4%—Bottom 9%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
-0.64×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
4.4%
Stock-based compensation / revenueA cost to shareholders through dilution.
0.1%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
+6.8 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
2.56×
Interest cover (operating income / interest)How many times operating profit covers interest.
2.8×

Shareholder returns

Dividend yield (dividends paid, TTM)
0.00%
Net buyback yield (TTM)
2.31%
Shareholder yield
2.31%
Share count change, 1 year
+0.3%
Share count change, 3-year CAGR
+16.4%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through Jun 30, 2026 (filed Aug 7, 2026).

Earnings and expectations

Earnings momentum

Consecutive EPS beats
0
Beats in the last 8 reports
2 of 8
Average EPS surprise, last 4
-22.8%
Average 2-day reaction, last 8
-0.7%
Positive 20 days after report
4 of 8

Analysts

Consensus price target
$8.88
Target vs current price
-0.2%
Analysts with a rating
13
Share rating Buy or Strong Buy
0%
Consensus rating
Hold

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Aug 7, 2026-38.1%-0.7%-5.3%-11.2%—
May 8, 2026-33.3%-3.8%-12.2%-12.2%-17.3%
Feb 27, 2026+1.1%-0.1%+0.3%-3.4%-11.8%
Nov 7, 2025-20.8%-0.2%+0.5%-2.9%+42.1%
Aug 7, 2025+199.0%-0.1%+3.2%+11.9%+4.8%
May 9, 2025+0.0%+0.7%+1.6%+0.4%+6.3%
Feb 21, 2025-48.7%-1.9%-2.4%+1.0%-3.2%
Nov 8, 2024-13.2%+0.6%-7.0%+0.8%-10.4%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Aug 7, 2026$0.13$0.21-38.1%$939.7M
May 8, 2026$0.18$0.27-33.3%$744.0M
Feb 27, 2026$0.24$0.24+1.1%$805.8M
Nov 7, 2025$0.19$0.24-20.8%$790.6M
Aug 7, 2025$0.20-$0.20+199.0%$746.4M
May 9, 2025$0.23$0.23+0.0%$744.1M
Feb 21, 2025$0.20$0.39-48.7%$486.9M
Nov 8, 2024$0.46$0.53-13.2%$938.4M

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)6.8×18.3×20thTop 20%
P/E (forward)12.8×———
EV / EBITDA4.1×——Top 1%
EV / Sales1.25×——Top 6%
Free-cash-flow yield-36.81%——Bottom 11%
Earnings yield14.61%——Top 20%

P/E over the past five years

Range 5.9× – 21.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

Technical state

Trend checklist

  • ✗ Price above 20-day average
  • ✗ Price above 50-day average
  • ✗ Price above 200-day average
  • ✗ 50-day average above 200-day
  • ✗ MACD histogram positive

Trend quality

Days above the 50-day average
0
Days above the 200-day average
0
50-day average slope (20 days)
-11.8%
200-day average slope (20 days)
-1.3%
Distance from 50-day average
-20.0%
Distance from 200-day average
-34.3%
RSI (14)
16.9
Relative volume
0.74×

Risk and drawdowns

Volatility, 60 days (annualized)
24.9%
Volatility vs own 5-year history
34th percentile · Normal for this stock
Beta vs S&P 500 (2 years, weekly)
0.46
Correlation with S&P 500
0.21
Current drawdown from 1-year high
-47.9%
Maximum drawdown, 3 years
-53.3%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
May 10, 2021Jul 8, 2024-82.9%794 daysNot yet recovered
Nov 16, 2020Jan 29, 2021-13.6%50 days25 days (Mar 8, 2021)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$1.54B
P/E (TTM)
6.8
EPS, diluted (TTM)
$1.30
Revenue (TTM)
$3.28B
52-week range
$8.68 – $17.38
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$2.85B$3.42B$3.29B$3.22B$3.09B
Gross profit$676.9M$628.7M$627.1M-$1.71B$235.3M
Operating income$386.1M$279.6M$275.0M-$1.71B$235.3M
Net income$246.2M$241.1M$199.2M-$1.42B$126.3M
EPS (diluted)$2.25$2.20$1.81-$11.23$0.71
Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Revenue$938.4M$486.9M$744.1M$746.4M$790.6M$805.8M$746.4M$939.7M
Net income-$103.9M-$67.8M$27.1M$26.6M$31.2M$41.4M$30.4M$123.2M
EPS (diluted)-$0.91-$0.56$0.15$0.15$0.18$0.23$0.18$0.71
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$375.7M$327.9M$551.5M$465.7M$391.1M
Capital expenditure-$314.5M-$329.5M-$442.7M-$329.5M-$341.2M
Free cash flow$61.1M-$1.5M$108.7M$136.3M$49.9M
Dividends paid-$148.6M-$125.9M-$74.0M-$26.0M$0
Net share buybacks$54.4M$13.1M$1.2M$270,000-$35.4M

Cash outflows are shown as negative numbers.

Cash and short-term investments
$238.7M
Total assets
$8.40B
Total liabilities
$6.64B
Total debt
$2.82B
Net debt
$2.58B
Shareholders’ equity
$1.76B

As of Jun 30, 2026 (filed Aug 7, 2026).

Dividends

Ex-dateAmountPaid
Aug 17, 2023$0.36Sep 8, 2023
May 18, 2023$0.36Jun 9, 2023
Feb 22, 2023$0.36Mar 10, 2023
Nov 21, 2022$0.35Dec 9, 2022
Aug 17, 2022$0.35Sep 9, 2022
May 19, 2022$0.35Jun 10, 2022
Feb 23, 2022$0.35Mar 10, 2022
Nov 22, 2021$0.34Dec 10, 2021

Short interest

Shares sold short
18,793,516
Days to cover
6.77
Change vs previous report
+6.5%

FINRA short interest, settlement date Sep 15, 2026.

Stock splits

Jun 14, 2004
2-for-1
May 24, 1984
2-for-1