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HE

Hawaiian Electric Industries NYSE:HE Stock Report

Last Price

US$40.66

Market Cap

US$4.4b

7D

4.6%

1Y

-3.8%

Updated

29 Jun, 2022

Data

Company Financials +
HE fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance4/6
Financial Health2/6
Dividends4/6

HE Stock Overview

Hawaiian Electric Industries, Inc., together with 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$40.66
52 Week HighUS$45.53
52 Week LowUS$37.94
Beta0.27
1 Month Change-6.98%
3 Month Change-3.90%
1 Year Change-3.83%
3 Year Change-8.05%
5 Year Change26.00%
Change since IPO103.94%

Recent News & Updates

Jun 10
Here's What To Make Of Hawaiian Electric Industries' (NYSE:HE) Decelerating Rates Of Return

Here's What To Make Of Hawaiian Electric Industries' (NYSE:HE) Decelerating Rates Of Return

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...

May 09
Hawaiian Electric Industries' (NYSE:HE) Dividend Will Be US$0.35

Hawaiian Electric Industries' (NYSE:HE) Dividend Will Be US$0.35

Hawaiian Electric Industries, Inc. ( NYSE:HE ) will pay a dividend of US$0.35 on the 10th of June. This means that the...

Shareholder Returns

HEUS Electric UtilitiesUS Market
7D4.6%4.1%1.6%
1Y-3.8%5.3%-20.8%

Return vs Industry: HE underperformed the US Electric Utilities industry which returned 5.2% over the past year.

Return vs Market: HE exceeded the US Market which returned -20.4% over the past year.

Price Volatility

Is HE's price volatile compared to industry and market?
HE volatility
HE Average Weekly Movement3.3%
Electric Utilities Industry Average Movement3.4%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

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

Volatility Over Time: HE's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18913,623Scott W. Seuhttps://www.hei.com

Hawaiian Electric Industries, Inc., together with 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$4.45b
Earnings (TTM)US$250.98m
Revenue (TTM)US$2.99b

17.7x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HE income statement (TTM)
RevenueUS$2.99b
Cost of RevenueUS$2.31b
Gross ProfitUS$686.00m
Other ExpensesUS$435.03m
EarningsUS$250.98m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.29
Gross Margin22.92%
Net Profit Margin8.39%
Debt/Equity Ratio108.0%

How did HE perform over the long term?

See historical performance and comparison

Dividends

3.4%

Current Dividend Yield

60%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is HE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HE?

Other financial metrics that can be useful for relative valuation.

HE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.3x
Enterprise Value/EBITDA10.2x
PEG Ratio3.6x

Price to Earnings Ratio vs Peers

How does HE's PE Ratio compare to its peers?

HE PE Ratio vs Peers
The above table shows the PE ratio for HE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20.3x
POR Portland General Electric
20.7x6.3%US$4.3b
IDA IDACORP
21.6x2.4%US$5.3b
PNM PNM Resources
21x7.2%US$4.1b
ALE ALLETE
18x8.5%US$3.3b
HE Hawaiian Electric Industries
17.7x4.9%US$4.4b

Price-To-Earnings vs Peers: HE is good value based on its Price-To-Earnings Ratio (17.7x) compared to the peer average (20.3x).


Price to Earnings Ratio vs Industry

How does HE's PE Ratio compare vs other companies in the US Electric Utilities Industry?

Price-To-Earnings vs Industry: HE is good value based on its Price-To-Earnings Ratio (17.7x) compared to the US Electric Utilities industry average (21.4x)


Price to Earnings Ratio vs Fair Ratio

What is HE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.7x
Fair PE Ratio20x

Price-To-Earnings vs Fair Ratio: HE is good value based on its Price-To-Earnings Ratio (17.7x) compared to the estimated Fair Price-To-Earnings Ratio (20x).


Share Price vs Fair Value

What is the Fair Price of HE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HE ($40.66) is trading below our estimate of fair value ($59.63)

Significantly Below Fair Value: HE is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: HE is poor value based on its PEG Ratio (3.6x)


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Future Growth

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

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


4.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HE's forecast earnings growth (4.9% per year) is above the savings rate (1.9%).

Earnings vs Market: HE's earnings (4.9% per year) are forecast to grow slower than the US market (13.7% per year).

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

Revenue vs Market: HE's revenue (4.2% per year) is forecast to grow slower than the US market (8.3% per year).

High Growth Revenue: HE's revenue (4.2% 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 (10%).


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Past Performance

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

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


4.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HE has high quality earnings.

Growing Profit Margin: HE's current net profit margins (8.4%) are lower than last year (9%).


Past Earnings Growth Analysis

Earnings Trend: HE's earnings have grown by 4.1% per year over the past 5 years.

Accelerating Growth: HE's earnings growth over the past year (9.7%) exceeds its 5-year average (4.1% per year).

Earnings vs Industry: HE earnings growth over the past year (9.7%) exceeded the Electric Utilities industry 9.5%.


Return on Equity

High ROE: HE's Return on Equity (10.7%) is considered low.


Discover strong past performing companies

Financial Health

How is Hawaiian Electric Industries's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: HE's short term assets ($5.9B) exceed its short term liabilities ($482.7M).

Long Term Liabilities: HE's short term assets ($5.9B) do not cover its long term liabilities ($13.1B).


Debt to Equity History and Analysis

Debt Level: HE's net debt to equity ratio (95.1%) is considered high.

Reducing Debt: HE's debt to equity ratio has increased from 86.7% to 108% over the past 5 years.

Debt Coverage: HE's debt is not well covered by operating cash flow (16.9%).

Interest Coverage: HE's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet


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Dividend

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

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.44%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HE's dividend (3.44%) is higher than the bottom 25% of dividend payers in the US market (1.59%).

High Dividend: HE's dividend (3.44%) is low compared to the top 25% of dividend payers in the US market (4.25%).


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.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (59.7%), HE's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (143.3%), HE's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

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

4.8yrs

Average management tenure


CEO

Scott W. Seu (55 yo)

0.42

Tenure

US$2,929,665

Compensation

Mr. Scott W. H. Seu serves as President, Chief Executive Officer and Director at Hawaiian Electric Industries, Inc. since January 1, 2022. He is Chairman of the Board and Director at American Savings Bank,...


CEO Compensation Analysis

Compensation vs Market: Scott W.'s total compensation ($USD2.93M) is below average for companies of similar size in the US market ($USD6.90M).

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


Leadership Team

Experienced Management: HE's management team is considered experienced (4.8 years average tenure).


Board Members

Experienced Board: HE's board of directors are considered experienced (3.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: HE insiders have only sold shares 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
  • Implied Market Cap: US$4.449b
  • Shares outstanding: 109.43m
  • 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 Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.