Hawaiian Electric Industries, Inc (HE) Fair Value & Analysis
Utilities · US · Market cap $2.3B
Hawaiian Electric Industries, Inc
HE · US
Fair value as of: Jul 15, 2026
From 22 valuation models · updated 25 days ago
Share price −8.4% over the past month.
Below-average quality, and screening another 42% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($12.08). The favourable scenario is already priced in.
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range ($6.27 to $12.08) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range $7.74 – $41.60 · fair‑value band $6.27 – $12.08 · the $12.40 price screens above the $7.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Hawaiian Electric Industries, Inc (HE) currently trades at $12.40, while our model-based Fair Value estimate is $7.18, implying the stock looks roughly 42.1% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Hawaiian Electric Industries, Inc generated revenue of $3.1B at a net margin of 4.1%. Revenue grew 0.3% year over year. It earns a return on equity of 8.0%. Net debt stands at $2.0B. Fundamentals as of Jul 15, 2026
Our scenario range runs from $6.27 (bear case) to $12.08 (bull case); at $12.40, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at -42%, HE screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 22 models by family
Widest divergence: Multiples ($12.44) versus Dividend Discount ($0.1400). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 47
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Hawaiian Electric Industries, Inc. together with its subsidiaries, engages in the electric utility business. The company engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu; Hawaii; and Maui, Lanai, and Molokai; and renewable energy sources and potential sources include wind, solar, photovoltaic, …
Full company description
Hawaiian Electric Industries, Inc. together with its subsidiaries, engages in the electric utility business. The company engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu; Hawaii; and Maui, Lanai, and Molokai; and renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. It also invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. In addition, the company serves suburban communities, resorts, the United States Armed Forces installations, and agricultural operations. Hawaiian Electric Industries, Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hawaiian Electric Industries, Inc reported revenue of $3.1B in FY2025 versus $2.9B in FY2021, a compound +2.0%/yr. Reported net income was $126M in FY2025, compounding −15.4%/yr from FY2021.
HE screens 42% overvalued. Compare with NextEra Energy, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Hawaiian Electric Seeks to Expand Renewables, Energy Storage on Oʻahu, Hawaiʻi Island and Maui
- Hawaiian Electric Industries to Announce Second Quarter 2026 Results August 7
- What This Fund’s $34 Million Hawaiian Electric Buy Could Signal for Utility Investors
Peer Group
Utilities - Regulated Electric · 154 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NextEra Energy, Inc NEE | $88.80 | $32.94 | -63% |
| The Southern Company SO | $95.61 | $61.06 | -36% |
| Duke Energy Corporation DUK | $126.11 | $97.11 | -23% |
| National Grid plc NGG | 61,175 ARS | 44,377 ARS | -27% |
| American Electric Power Company AEP | $132.50 | $79.33 | -40% |
| Dominion Energy, Inc D | $70.08 | $46.92 | -33% |
| NTPC Limited NTPC | ₹341.85 | ₹377.16 | +10% |
| CEZ, a. s. CEZ | 232.40 PLN | 159.33 PLN | -31% |
| Power Grid Corporation POWERGRID | ₹283.55 | ₹252.77 | -11% |
| China National Nuclear Power Co 601985 | ¥8.91 | ¥7.69 | -14% |
Compare Hawaiian Electric Industries, Inc with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Utilities stocks →
Frequently asked questions
Is Hawaiian Electric Industries, Inc (HE) overvalued or undervalued?
What is the fair value of HE?
What is the quality score of HE?
What is the revenue of Hawaiian Electric Industries, Inc (HE)?
What is the net profit margin of HE?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Hawaiian Electric Industries, Inc and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.