Is Hawaiian Electric Industries (HE) overvalued or fairly valued?

MarketChacha shows Hawaiian Electric Industries's valuation in context — a trailing P/E of about 9.7, a forward P/E of about 11.0, a price-to-book of about 1.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

What is Hawaiian Electric Industries's revenue?

Hawaiian Electric Industries reported revenue of $3.1B for FY2025, with net profit of $126.3M, per official filings.

What is the share price of Hawaiian Electric Industries (HE)?

Hawaiian Electric Industries last traded at $11.81 (-0.2% on the day), as of 8/17/2026 — a delayed quote shown for education, not investment advice.

Hawaiian Electric Industries

HE · NYSE · Utilities · United States

Snapshot

TickerHE

ExchangeNYSE

SectorUtilities

IndustryUtilities - Regulated Electric

CountryUnited States

Employees2,659

HeadquartersHonolulu, United States

Websitewww.hei.com

Filings tracked21

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc. together with its subsidiaries, engages in the electric utility business. The company engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu; Hawaii; and Maui, Lanai, and Molokai; and renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. It also invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. In addition, the company serves suburban communities, resorts, the United States Armed Forces installations, and agricultural operations. Hawaiian Electric Industries, Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii.

Who owns it

Insiders0.3%
Institutions88.3%
Public & other11.4%

434 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.33%
Horizon Kinetics Asset Management LLC12.97%
Vanguard Portfolio Management LLC6.01%
Vanguard Capital Management LLC4.33%
State Street Corporation4.16%
T. Rowe Price Investment Management, Inc.3.59%
Geode Capital Management, LLC2.51%
Quantinno Capital Management, LP2.30%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 2.0 points over the period — profitability is trending down.

Net margin trend6.1% → 4.1%

Margin has compressed by about 2.0 points over the period — profitability is trending down.

Return on equity7.9%

Latest ROE of 7.9% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev -3% · PAT -21%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

EPS 0.18

Est. earnings growth -23.3%

Next fiscal year

Rev $3.3B · EPS 1.07

Est. earnings growth +30.5%

Analyst consensus estimates — not the company's own guidance.

New to these terms?

P/E ROE ROCE Margins Market cap

Browse the Learn hub →

Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$3.1B

Net margin

4.1%

ROE

7.9%

Revenue CAGR (2y)

-3.1%

Profit CAGR (2y)

-20.8%

EPS (FY2025)

0.71

Net profit (FY2025)

$126.3M

Ask MarketChacha about HE

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$3.1B	$126.3M	0.71	4.1%	7.9%
FY2024	$3.2B	$-1.4B	-11.23	-44.2%	-96.3%
FY2023	$3.3B	$201.1M	1.81	6.1%	8.6%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$939.7M	—	0.71	—
2026Q1	$746.4M	$30.4M	0.18	4.1%
2025Q3	$790.6M	—	0.18	—
2025Q2	$746.4M	—	0.15	—
2025Q1	$744.1M	$27.1M	0.15	3.6%
2024Q4	$799.2M	—	-0.40	—
2024Q3	$833.2M	$-103.9M	-0.91	-12.5%
2024Q2	$795.4M	$-1.3B	-11.74	-162.8%
2024Q1	$792.0M	$42.6M	0.38	5.4%
2023Q4	$853.4M	—	0.44	—
2023Q3	$800.9M	$41.6M	0.37	5.2%
2023Q2	$798.8M	$55.1M	0.50	6.9%
2023Q1	$834.4M	$55.2M	0.50	6.6%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC8/7/2026material
10-Q filing
SEC8/7/2026
8-K — Material agreement
SEC7/31/2026material
8-K — Shareholder vote results
SEC6/15/2026material
8-K — Results of operations, Exhibits
SEC5/8/2026material
10-Q filing
SEC5/8/2026
8-K — Other events
SEC4/10/2026material
8-K — Executive/director change
SEC4/10/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/27/2026material
8-K — Other events, Exhibits
SEC3/16/2026material
8-K — Other events, Exhibits
SEC3/2/2026material
8-K — Results of operations, Exhibits
SEC2/27/2026material
10-K filing
SEC2/27/2026

2025

8-K — Results of operations, Exhibits
SEC11/7/2025material
10-Q filing
SEC11/7/2025
8-K — Material agreement, Material financial obligation, Exhibits
SEC9/18/2025material
8-K — Other events, Exhibits
SEC9/11/2025material
8-K — Material agreement, Material financial obligation, Reg FD disclosure, Exhibits
SEC9/8/2025material
8-K — Other events
SEC9/8/2025material
8-K — Results of operations, Exhibits
SEC8/7/2025material
10-Q filing
SEC8/7/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.