HE

Hawaiian Electric IndustriesNYSE:HE Stock Report

Market Cap

US$4.5b

7D

-1.0%

1Y

25.9%

Updated

18 Sep, 2021

Data

Company Financials +
HE fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance5/6
Financial Health2/6
Dividends5/6

HE Overview

Hawaiian Electric Industries, Inc., through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii.

Hawaiian Electric Industries Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hawaiian Electric Industries
Historical stock prices
Current Share PriceUS$41.15
52 Week HighUS$31.83
52 Week LowUS$45.97
Beta0.23
1 Month Change-8.02%
3 Month Change-1.88%
1 Year Change25.92%
3 Year Change16.57%
5 Year Change31.93%
Change since IPO106.40%

Recent News & Updates

Sep 17
Estimating The Intrinsic Value Of Hawaiian Electric Industries, Inc. (NYSE:HE)

Estimating The Intrinsic Value Of Hawaiian Electric Industries, Inc. (NYSE:HE)

How far off is Hawaiian Electric Industries, Inc. ( NYSE:HE ) from its intrinsic value? Using the most recent financial...

Sep 05
If You Like EPS Growth Then Check Out Hawaiian Electric Industries (NYSE:HE) Before It's Too Late

If You Like EPS Growth Then Check Out Hawaiian Electric Industries (NYSE:HE) Before It's Too Late

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...

Aug 26

Hawaiian Electric Industries: Strong Second Quarter And More Tailwinds

Hawaiian Electric Industries reported strong second quarter earnings. The company's bank division should benefit from rising interest rates in the future. Hawaiian Electric Industries should also benefit from increased tourism.

Aug 08
Hawaiian Electric Industries (NYSE:HE) Takes On Some Risk With Its Use Of Debt

Hawaiian Electric Industries (NYSE:HE) Takes On Some Risk With Its Use Of Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

HEUS Electric UtilitiesUS Market
7D-1.0%-3.1%-0.6%
1Y25.9%16.2%33.8%

Return vs Industry: HE exceeded the US Electric Utilities industry which returned 16.2% over the past year.

Return vs Market: HE underperformed the US Market which returned 33.8% over the past year.

Price Volatility

Is HE's price volatile compared to industry and market?
HE volatility
HE Beta0.23
Industry Beta0.43
Market Beta1

Stable Share Price: HE is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: HE's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18913,702Connie Lauhttps://www.hei.com

Hawaiian Electric Industries, Inc., through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.

Hawaiian Electric Industries Fundamentals Summary

How do Hawaiian Electric Industries's earnings and revenue compare to its market cap?
HE fundamental statistics
Market CapUS$4.50b
Earnings (TTM)US$243.75m
Revenue (TTM)US$2.62b

18.5x

P/E Ratio

1.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HE income statement (TTM)
RevenueUS$2.62b
Cost of RevenueUS$1.97b
Gross ProfitUS$645.09m
ExpensesUS$401.34m
EarningsUS$243.75m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.23
Gross Margin24.65%
Net Profit Margin9.31%
Debt/Equity Ratio103.4%

How did HE perform over the long term?

See historical performance and comparison

Dividends

3.3%

Current Dividend Yield

60%

Payout Ratio

Valuation

Is Hawaiian Electric Industries undervalued compared to its fair value and its price relative to the market?

18.45x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: HE ($41.15) is trading above our estimate of fair value ($38.83)

Significantly Below Fair Value: HE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HE is good value based on its PE Ratio (18.5x) compared to the US Electric Utilities industry average (21.8x).

PE vs Market: HE is poor value based on its PE Ratio (18.5x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: HE is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: HE's PB Ratio (1.9x) is in line with the US Electric Utilities industry average.


Future Growth

How is Hawaiian Electric Industries forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HE's forecast earnings growth (5.6% per year) is above the savings rate (2%).

Earnings vs Market: HE's earnings (5.6% per year) are forecast to grow slower than the US market (14.9% per year).

High Growth Earnings: HE's earnings are forecast to grow, but not significantly.

Revenue vs Market: HE's revenue (5.4% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: HE's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HE's Return on Equity is forecast to be low in 3 years time (9.9%).


Past Performance

How has Hawaiian Electric Industries performed over the past 5 years?

0.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HE has high quality earnings.

Growing Profit Margin: HE's current net profit margins (9.3%) are higher than last year (7.6%).


Past Earnings Growth Analysis

Earnings Trend: HE's earnings have grown by 0.6% per year over the past 5 years.

Accelerating Growth: HE's earnings growth over the past year (15%) exceeds its 5-year average (0.6% per year).

Earnings vs Industry: HE earnings growth over the past year (15%) exceeded the Electric Utilities industry 1.6%.


Return on Equity

High ROE: HE's Return on Equity (10.1%) is considered low.


Financial Health

How is Hawaiian Electric Industries's financial position?


Financial Position Analysis

Short Term Liabilities: HE's short term assets ($5.8B) exceed its short term liabilities ($420.8M).

Long Term Liabilities: HE's short term assets ($5.8B) do not cover its long term liabilities ($12.8B).


Debt to Equity History and Analysis

Debt Level: HE's debt to equity ratio (103.4%) is considered high.

Reducing Debt: HE's debt to equity ratio has increased from 98.2% to 103.4% over the past 5 years.

Debt Coverage: HE's debt is not well covered by operating cash flow (14.1%).

Interest Coverage: HE's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Dividend

What is Hawaiian Electric Industries's current dividend yield, its reliability and sustainability?

3.30%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HE's dividend (3.3%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: HE's dividend (3.3%) is low compared to the top 25% of dividend payers in the US market (3.6%).


Stability and Growth of Payments

Stable Dividend: HE's dividends per share have been stable in the past 10 years.

Growing Dividend: HE's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (60%), HE's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HE's dividends in 3 years are forecast to be covered by earnings (64.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Connie Lau (68 yo)

15.33yrs

Tenure

US$5,108,212

Compensation

Ms. Constance Hee Lau, also known as Connie, has been President and Chief Executive Officer of Hawaiian Electric Industries, Inc. in May 2006. She served as the Chairman of Hawaiian Electric Company, Inc....


CEO Compensation Analysis

Compensation vs Market: Connie's total compensation ($USD5.11M) is about average for companies of similar size in the US market ($USD5.27M).

Compensation vs Earnings: Connie's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: HE's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: HE's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Hawaiian Electric Industries, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Hawaiian Electric Industries, Inc.
  • Ticker: HE
  • Exchange: NYSE
  • Founded: 1891
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: US$4.498b
  • Shares outstanding: 109.31m
  • Website: https://www.hei.com

Number of Employees


Location

  • Hawaiian Electric Industries, Inc.
  • 1001 Bishop Street
  • Suite 2900
  • Honolulu
  • Hawaii
  • 96813
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/18 22:02
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.