Rate Rebase Critical for Hawaiian Electric to Earn Its Allowed Returns
Hawaiian Electric Industries will derive nearly all of its income from its electric utility after selling a 90% stake in its American Savings Bank subsidiary in late 2024.
Hawaiian Electric Industries Inc HE
Bulls Say, Bears Say
Bulls
Regulation in Hawaii has improved. Performance-based ratemaking reduces earnings volatility while offering opportunities for management to earn incentives.
Bears
Wildfires in Hawaiian Electric's service territory have significantly increased investor risk.
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Trading Information
- Previous Close Price
- $8.81
- Day Range
- $8.77–8.95
- 52-Week Range
- $8.68–17.38
- Bid/Ask
- $8.88 / $8.92
- Shares Outstanding
- 173.02M
- Market Cap
- $1.55B
- Volume/Avg
- 22 / 2M
Key Statistics
- Price/Earnings (Normalized)
- 12.07
- Price/Sales
- 0.47
- Dividend Yield (Trailing)
- 0.00%
- Dividend Yield (Forward)
- 0.00%
- Dividend Payment Schedule
- —
- Total Yield
- —
Company Profile
Hawaiian Electric Industries is the parent company of three Hawaii-based regulated utilities and owns a 10% minority interest in Hawaii's American Savings Bank. The utilities provide electricity on the islands of Oahu, Hawaii, Maui, Molokai, and Lanai.
- Sector
- Utilities
- Industry
- Utilities - Regulated Electric
- Stock Style Box
- Small Value
- Total Number of Employees
- 2,675
- Website
- https://www.hei.com
Competitors
Valuation
|
Metric
|
HE
|
PNW
|
EVRG
|
|---|---|---|---|
Price/Earnings (Normalized) | 12.07 | 18.78 | 19.99 |
Price/Book Value | 0.87 | 1.69 | 1.81 |
Price/Sales | 0.47 | 2.17 | 3.10 |
Price/Cash Flow | — | 6.42 | 8.45 |
Price/Earnings
HE
PNW
EVRG
Financial Strength
|
Metric
|
HE
|
PNW
|
EVRG
|
|---|---|---|---|
Quick Ratio | 0.60 | 0.31 | 0.05 |
Current Ratio | 0.99 | 0.59 | 0.45 |
Interest Coverage | 3.06 | 2.62 | 2.48 |
Quick Ratio
HE
PNW
EVRG
Profitability
|
Metric
|
HE
|
PNW
|
EVRG
|
|---|---|---|---|
Return on Assets (Normalized) | 1.47% | 2.03% | 2.78% |
Return on Equity (Normalized) | 7.87% | 8.84% | 9.29% |
Return on Invested Capital (Normalized) | 4.48% | 4.59% | 6.14% |
Return on Assets
HE
PNW
EVRG
Utilities - Regulated Electric Industry Comparables
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United States