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NYSE · ELECTRIC SERVICES · LARGE CAP

Hawaiian Electric Industries Inc. HE

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$3.1B
▼ 4.1% YoY
$126.3M
$49.9M
▼ 65.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

HEI's subsidiaries are principally engaged in electric utility and non-regulated renewable/sustainable infrastructure businesses operating in the State of Hawaii. For 2025, HEI corporate had 39 employees, compared with 44 in 2024 and 45 in 2023. HEI is headquartered in Honolulu, Hawaii, and has one reportable segment, Electric utility; its other subsidiaries, which are not reportable segments, are grouped and reported as an "All Other" non-reportable segment. Hawaiian Electric and its operating utility subsidiaries, Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited, are regulated electric public utilities that provide essential electric service to approximately 95% of Hawaii's population through the operation of five separate grids that serve communities on the islands of Oahu, Hawaii, Maui, Lanai and Molokai. The All Other non-reportable segment is composed of HEI's corporate-level operating, general and administrative expenses and the results of Pacific Current, LLC. Pacific Current was formed in September 2017 to invest in non-regulated clean energy and sustainable infrastructure in the State of Hawaii.

Written from the business description in HAWAIIAN ELECTRIC INDUSTRIES, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 3.1B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.1 · Net income 0.1
1.5B3.0B-0.5B-1.0B
2008201120142017202020232025
Compound annual growth
−3.4%
+3.7%
+1.7%
+1.0%
−19.6%
−8.8%
−6.5%
−2.7%
−1.4%
−0.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +3.7% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

4 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 7.6% · Net 4.1%
5%10%-20%-40%
200820162025
ROE
FY2025 · ROE 8.2%
5%10%-20%-40%-60%
200820162025
Three returns, three denominators.

Each USD of equity produced 8 cents of profit this year.

Cash & shareholders

USD 0.00
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 49.9
100M200M-40M-80M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 0.0 · Net buybacks ·
100M200M
2008201120142017202020232025

Total assetsUSD 8.9B
EquityUSD 1.6B
CashUSD 501.8M
Gross debtUSD 2.4B
Net debtUSD 1.9B
Current ratio1.32×

Net debt stands at 119% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
HE, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B3.13.23.33.42.92.62.92.92.62.42.63.23.23.43.22.72.33.2
Operating income $B0.2−1.70.30.30.40.30.30.30.30.40.30.30.30.30.30.30.20.2
EBITDA $B0.5−1.40.60.50.70.60.60.60.60.60.50.50.50.40.50.40.30.4
Income tax $B0.0−0.50.00.00.10.00.10.10.10.10.10.10.10.10.10.10.00.0
Net income $B0.1−1.40.20.20.20.20.20.20.20.30.20.20.20.10.10.10.10.1
Free cash flow $B0.00.10.10.10.10.00.1−0.0−0.10.2−0.0−0.0−0.0−0.10.00.2−0.0−0.0
EPS, diluted $0.71−11.231.812.202.251.811.991.851.522.291.501.631.621.421.441.210.911.07
Dividend / sh $◌◌1.081.401.361.321.281.241.241.241.241.241.241.241.241.241.241.24
Payout %0−0374660726366814781746068768211793
ROE %8.2−74.58.810.610.58.69.99.68.012.58.79.79.99.09.37.85.96.5
Shares out B0.170.170.110.110.110.110.110.110.110.110.110.100.100.100.100.090.09◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 55 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityElectric Services
Listed onNYSE
Incorporated inHawaii
Fiscal year endsDecember 31
Data on record since2008

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