InsiderClue
Stocks · Utilities · Electric Services

HAWAIIAN ELECTRIC INDUSTRIES INC

HE Clue Score36
United States Fiscal year ends December CIK 0000354707
$8.76 -0.68% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $8.76 −77.68% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.38Operating income0.36Net income0.25EPS, diluted2.29Fiscal year 2017Revenue2.56 +7.3%Operating income0.35Net income0.17 −33.2%EPS, diluted1.52 −33.6%Fiscal year 2018Revenue2.86 +11.9%Operating income0.33Net income0.20 +21.8%EPS, diluted1.85 +21.7%Fiscal year 2019Revenue2.87 +0.5%Operating income0.35Net income0.22 +7.9%EPS, diluted1.99 +7.6%Fiscal year 2020Revenue2.58 −10.2%Operating income0.31Net income0.20 −9.1%EPS, diluted1.81 −9.0%Fiscal year 2021Revenue2.85 +10.5%Operating income0.39Net income0.25 +24.2%EPS, diluted2.25 +24.3%Fiscal year 2022Revenue3.42 +20.0%Operating income0.28Net income0.24 −2.0%EPS, diluted2.20 −2.2%Fiscal year 2023Revenue3.29 −3.9%Operating income0.27Net income0.20 −17.2%EPS, diluted1.81 −17.7%Fiscal year 2024Revenue3.22 −2.1%Operating income−1.71Net income−1.42 −808.1%EPS, diluted−11.23 −720.4%Fiscal year 2025Revenue3.09 −4.1%Operating income0.24Net income0.13EPS, diluted0.71
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.38 2.56 2.86 2.87 2.58 2.85 3.42 3.29 3.22 3.09
Growth +7.3% +11.9% +0.5% −10.2% +10.5% +20.0% −3.9% −2.1% −4.1%
Operating income 0.36 0.35 0.33 0.35 0.31 0.39 0.28 0.27 −1.71 0.24
Net income 0.25 0.17 0.20 0.22 0.20 0.25 0.24 0.20 −1.42 0.13
Growth −33.2% +21.8% +7.9% −9.1% +24.2% −2.0% −17.2% −808.1%
EPS, diluted 2.29 1.52 1.85 1.99 1.81 2.25 2.20 1.81 −11.23 0.71
Growth −33.6% +21.7% +7.6% −9.0% +24.3% −2.2% −17.7% −720.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin14.9%Net margin10.5%Free cash flow margin7.0%Fiscal year 2017Operating margin13.5%Net margin6.5%Free cash flow margin−2.9%Fiscal year 2018Operating margin11.7%Net margin7.1%Free cash flow margin−1.3%Fiscal year 2019Operating margin12.1%Net margin7.6%Free cash flow margin1.9%Fiscal year 2020Operating margin12.1%Net margin7.7%Free cash flow margin1.8%Fiscal year 2021Operating margin13.5%Net margin8.7%Free cash flow margin2.1%Fiscal year 2022Operating margin8.2%Net margin7.1%Free cash flow margin3.4%Fiscal year 2023Operating margin8.4%Net margin6.1%Free cash flow margin3.3%Fiscal year 2024Operating margin−53.0%Net margin−44.2%Free cash flow margin4.4%Fiscal year 2025Operating margin7.6%Net margin4.1%Free cash flow margin1.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 14.9% 13.5% 11.7% 12.1% 12.1% 13.5% 8.2% 8.4% −53.0% 7.6%
Net margin 10.5% 6.5% 7.1% 7.6% 7.7% 8.7% 7.1% 6.1% −44.2% 4.1%
Free cash flow margin 7.0% −2.9% −1.3% 1.9% 1.8% 2.1% 3.4% 3.3% 4.4% 1.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.50Capital expenditure−0.33Free cash flow0.17Dividends paid−0.12Fiscal year 2017Operating cash flow0.42Capital expenditure−0.50Free cash flow−0.07 −145.1%Dividends paid−0.13Fiscal year 2018Operating cash flow0.50Capital expenditure−0.54Free cash flow−0.04Dividends paid−0.13Fiscal year 2019Operating cash flow0.51Capital expenditure−0.46Free cash flow0.05Dividends paid−0.14Fiscal year 2020Operating cash flow0.43Capital expenditure−0.38Free cash flow0.05 −17.2%Dividends paid−0.14Fiscal year 2021Operating cash flow0.38Capital expenditure−0.31Free cash flow0.06 +34.4%Dividends paid−0.15Fiscal year 2022Operating cash flow0.45Capital expenditure−0.34Free cash flow0.12 +88.3%Dividends paid−0.11Fiscal year 2023Operating cash flow0.55Capital expenditure−0.44Free cash flow0.11 −5.6%Dividends paid−0.07Fiscal year 2024Operating cash flow0.49Capital expenditure−0.34Free cash flow0.14 +31.7%Dividends paid0.00Fiscal year 2025Operating cash flow0.39Capital expenditure−0.34Free cash flow0.05 −65.2%Dividends paid0.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.50 0.42 0.50 0.51 0.43 0.38 0.45 0.55 0.49 0.39
Capital expenditure −0.33 −0.50 −0.54 −0.46 −0.38 −0.31 −0.34 −0.44 −0.34 −0.34
Free cash flow 0.17 −0.07 −0.04 0.05 0.05 0.06 0.12 0.11 0.14 0.05
Growth −145.1% −17.2% +34.4% +88.3% −5.6% +31.7% −65.2%
Dividends paid −0.12 −0.13 −0.13 −0.14 −0.14 −0.15 −0.11 −0.07 0.00 0.00

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.28Total debt1.62Net cash (debt)−1.34Shareholders’ equity2.07Debt to equity0.78Fiscal year 2017Cash0.26Total debt1.68Net cash (debt)−1.42Shareholders’ equity2.10Debt to equity0.80Fiscal year 2018Cash0.17Total debt1.88Net cash (debt)−1.71Shareholders’ equity2.16Debt to equity0.87Fiscal year 2019Cash0.20Total debt1.96Net cash (debt)−1.77Shareholders’ equity2.28Debt to equity0.86Fiscal year 2020Cash0.34Total debt2.12Net cash (debt)−1.78Shareholders’ equity2.34Debt to equity0.91Fiscal year 2021Cash0.31Total debt2.32Net cash (debt)−2.02Shareholders’ equity2.39Debt to equity0.97Fiscal year 2022Cash0.04Total debt2.38Net cash (debt)−2.34Shareholders’ equity2.20Debt to equity1.08Fiscal year 2023Cash0.24Total debt2.84Net cash (debt)−2.60Shareholders’ equity2.34Debt to equity1.21Fiscal year 2024Cash0.75Total debt2.80Net cash (debt)−2.05Shareholders’ equity1.48Debt to equity1.89Fiscal year 2025Cash0.50Total debt2.41Net cash (debt)−1.91Shareholders’ equity1.61Debt to equity1.50
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.28 0.26 0.17 0.20 0.34 0.31 0.04 0.24 0.75 0.50
Total debt 1.62 1.68 1.88 1.96 2.12 2.32 2.38 2.84 2.80 2.41
Net cash (debt) −1.34 −1.42 −1.71 −1.77 −1.78 −2.02 −2.34 −2.60 −2.05 −1.91
Shareholders’ equity 2.07 2.10 2.16 2.28 2.34 2.39 2.20 2.34 1.48 1.61
Debt to equity 0.78 0.80 0.87 0.86 0.91 0.97 1.08 1.21 1.89 1.50

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
14.9% 13.5% 11.7% 12.1% 12.1% 13.5% 8.2% 8.4% −53.0% 7.6%
15.7% 10.8% 8.9% 9.4% 9.3% 10.9% 5.9% 5.5% −55.6% 5.4%
10.5% 6.5% 7.1% 7.6% 7.7% 8.7% 7.1% 6.1% −44.2% 4.1%
7.0% −2.9% −1.3% 1.9% 1.8% 2.1% 3.4% 3.3% 4.4% 1.6%
Spending
13.9% 19.4% 18.8% 15.9% 14.9% 11.0% 9.9% 13.5% 10.7% 11.1%
33.1% 39.6% 20.0% 19.0% 17.0% 20.2% 19.3% 18.9% n/a 24.4%
Returns
12.1% 8.0% 9.4% 9.6% 8.5% 10.4% 11.0% 8.6% −96.3% 7.9%
2.1% 1.3% 1.6% 1.6% 1.3% 1.6% 1.5% 2.6% −15.9% 1.4%
Balance and payout
0.78 0.80 0.87 0.86 0.91 0.97 1.08 1.21 1.89 1.50
86.9% 83.0% 83.2% 83.2% 84.2% 84.7% 86.3% 193.6% 83.1% 82.0%
46.9% 80.7% 66.3% 63.5% 72.2% 59.9% 45.8% 36.8% n/a 0.0%
70.8% n/a n/a 253.8% 316.6% 243.1% 96.6% 68.0% 0.0% 0.0%