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HE 
Hawaiian Electric Industries Inc (HE)
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Stock price based on last close (see disclosures)
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Upturn Advisory Summary
12/03/2025: HE (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
5 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $10.83
1 Year Target Price $10.83
| 1 | Strong Buy |
| 0 | Buy |
| 4 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -29.72% | Avg. Invested days 32 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/03/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.93B USD | Price to earnings Ratio 5.15 | 1Y Target Price 10.83 |
Price to earnings Ratio 5.15 | 1Y Target Price 10.83 | ||
Volume (30-day avg) 5 | Beta 0.66 | 52 Weeks Range 8.14 - 13.41 | Updated Date 12/3/2025 |
52 Weeks Range 8.14 - 13.41 | Updated Date 12/3/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 2.17 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date 2025-11-07 | When After Market | Estimate -0.2 | Actual 0.19 |
Profitability
Profit Margin 0.5% | Operating Margin (TTM) 6.69% |
Management Effectiveness
Return on Assets (TTM) 1.06% | Return on Equity (TTM) 7.02% |
Valuation
Trailing PE 5.15 | Forward PE 12.44 | Enterprise Value 4434191788 | Price to Sales(TTM) 0.63 |
Enterprise Value 4434191788 | Price to Sales(TTM) 0.63 | ||
Enterprise Value to Revenue 1.44 | Enterprise Value to EBITDA 7.96 | Shares Outstanding 172620476 | Shares Floating 172074995 |
Shares Outstanding 172620476 | Shares Floating 172074995 | ||
Percent Insiders 0.21 | Percent Institutions 74.37 |
Upturn AI SWOT
Hawaiian Electric Industries Inc
Company Overview
History and Background
Hawaiian Electric Industries, Inc. (HEI) was founded in 1891 as Hawaiian Electric Company. Over time, it evolved into a holding company with subsidiaries in electric utilities, banking, and renewable energy. Significant milestones include expanding electricity services throughout Hawaii and diversifying its business portfolio.
Core Business Areas
- Hawaiian Electric Company, Inc. (HECO): HECO generates, transmits, and distributes electricity on the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. It focuses on providing reliable and affordable electricity while transitioning to renewable energy sources.
- American Savings Bank (ASB): ASB is a full-service bank providing a range of financial services, including deposit accounts, loans, and investment products to individuals and businesses in Hawaii.
- Pacific Current: Pacific Current invests in renewable energy and sustainable infrastructure projects. It looks for projects that can help achieve Hawaii's clean energy goals. It also partners with and invests in companies that develop innovative products and technologies that can help transform the way energy is produced and used in Hawaii.
Leadership and Structure
The leadership team consists of the CEO, CFO, and various vice presidents overseeing different business units. The organizational structure is a holding company model, with each subsidiary operating with its own management team.
Top Products and Market Share
Key Offerings
- Electricity Distribution: HECO holds a near-monopoly on electricity distribution across most major Hawaiian islands. Market share is approximately 95% within its service territories. Competitors include distributed generation technologies like rooftop solar, which is incentivized in Hawaii. Revenues from electricity distribution make up the vast majority of HECO's income.
- Banking Services: ASB offers a variety of banking services, including checking and savings accounts, mortgages, and business loans. Market share in Hawaii's banking sector is significant, with ASB being one of the largest banks in the state. Key competitors are Bank of Hawaii (BOH) and First Hawaiian Bank (FHB). The revenue from banking services makes up the remainder of HEI's revenue.
Market Dynamics
Industry Overview
The utility industry is undergoing significant transformation with the increasing adoption of renewable energy sources, distributed generation, and smart grid technologies. The banking industry is also competitive and evolving with technology.
Positioning
HEI is positioned as a leading provider of electricity and financial services in Hawaii. Its competitive advantages include its established infrastructure, strong customer base, and deep understanding of the local market. It is also a large component of the State's economy.
Total Addressable Market (TAM)
The total addressable market for electricity in Hawaii is estimated to be several billion dollars annually. The TAM for banking services is also significant, given Hawaii's economy. HEI is well-positioned to capture a large share of these markets.
Upturn SWOT Analysis
Strengths
- Dominant market share in electricity distribution in Hawaii
- Diversified business model with banking and renewable energy investments
- Strong relationships with local communities and government
- Established infrastructure and expertise in the utility sector
Weaknesses
- High debt levels
- Vulnerability to regulatory changes and political pressures
- Dependence on imported fossil fuels for electricity generation (though decreasing)
- Geographic concentration in Hawaii
Opportunities
- Expanding renewable energy generation and storage capacity
- Investing in grid modernization and smart grid technologies
- Growing the banking business through new products and services
- Leveraging government incentives and policies to promote renewable energy
Threats
- Rising fuel costs and commodity price volatility
- Increasing competition from distributed generation and alternative energy sources
- Potential for natural disasters and disruptions to infrastructure
- Changes in regulatory policies that could impact profitability
Competitors and Market Share
Key Competitors
- AES (AES)
- Bank of Hawaii (BOH)
- First Hawaiian Inc (FHB)
Competitive Landscape
HEI benefits from its established infrastructure and local market knowledge. However, it faces competition from other utility companies, banks, and renewable energy developers. AES is a strong competitor within the renewable energy sector. Hawaii banks compete directly with HEI's American Savings Bank.
Major Acquisitions
Maui Electric Company
- Year: 1968
- Acquisition Price (USD millions):
- Strategic Rationale: Expansion of electrical service to another major island in Hawaii
Growth Trajectory and Initiatives
Historical Growth: HEI's growth has been driven by increasing demand for electricity and banking services in Hawaii. The company has also made investments in renewable energy to diversify its revenue streams.
Future Projections: Future growth is expected to be driven by the transition to renewable energy, grid modernization, and expansion of banking services. Analyst estimates vary depending on factors such as regulatory policies and economic conditions.
Recent Initiatives: Recent initiatives include investments in renewable energy projects, such as solar and wind farms, and upgrades to the electricity grid to improve reliability and efficiency.
Summary
Hawaiian Electric Industries is a stable utility and banking company with a strong presence in Hawaii. While its monopoly in electricity distribution provides a secure revenue stream, its high debt and reliance on fossil fuels present challenges. The company's growth hinges on its ability to transition to renewable energy and navigate evolving regulations. Investment in renewable energy creates growth and provides a good outlook for the company.
Similar Stocks
Sources and Disclaimers
Data Sources:
- HEI Investor Relations
- SEC Filings
- Market Research Reports
- Financial News Outlets
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Actual results may vary. Market share data is approximate and based on available estimates.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Hawaiian Electric Industries Inc
Exchange NYSE | Headquaters Honolulu, HI, United States | ||
IPO Launch date 1987-11-05 | President, CEO & Director Mr. Scott W. H. Seu | ||
Sector Utilities | Industry Utilities - Regulated Electric | Full time employees 2587 | Website https://www.hei.com |
Full time employees 2587 | Website https://www.hei.com | ||
Hawaiian Electric Industries, Inc., together with its subsidiaries, engages in the electric utility business in the United States. It operates through Electric Utility and Other segments. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu; Hawaii; and Maui, Lanai, and Molokai. This segment's renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. This segment serves suburban communities, resorts, the United States Armed Forces installations, and agricultural operations. The Other segment invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. Hawaiian Electric Industries, Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii.
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