Hawaiian Electric Industries Inc (HE) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hawaiian Electric Industries Inc $6.28, price $9.22, upside -31.9%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Hawaiian Electric Industries Inc
HE · USWeak valuationQuality is weak on top of the rich price.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $7.74 – $41.60 · fair‑value band $3.13 – $11.65 · the $9.22 price screens above the $6.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Hawaiian Electric Industries, Inc. together with its subsidiaries, engages in the electric utility business.
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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.
Stock analysis
Hawaiian Electric Industries Inc (HE) currently trades at $9.22, while our model-based Fair Value estimate is $6.28, implying the stock looks roughly 46.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $12.44 per share, and 10 of the 25 models we run sit above the $9.22 price.
Bear case: the Growth DCF group reads lowest at $3.98, and 15 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: $3.13 (bear) to $11.65 (bull), the price of $9.22 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 38/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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.
Key figures
Market cap $2.3B · P/E ratio 12.5 · P/S ratio 0.51 · EPS (TTM) $0.7400 · Dividend yield 0.1% · Net margin 4.1% · Return on equity 8.0% · Return on assets (EBIT) −2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at −32%, HE screens cheaper than that median.
Fair Value models
All 25 models by family
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Set up alert →Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 32
Revenue & earnings trend
Growth Forecast
HE screens 47% overvalued. Compare with NextEra Energy, Inc →
Compare Hawaiian Electric Industries Inc with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Utilities - Regulated Electric · 158 stocks
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Utilities
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NextEra Energy, Inc NEE | $79.26 | $29.88 | −62% |
| The Southern Company SO | $85.15 | $58.74 | −31% |
| Duke Energy Corporation DUK | $116.31 | $74.89 | −36% |
| American Electric Power Company AEP | $120.27 | $100.09 | −17% |
| Dominion Energy, Inc D | $62.43 | $37.67 | −40% |
| Entergy Corporation ETR | $101.16 | $38.37 | −62% |
| Xcel Energy Inc XEL | $72.06 | $54.92 | −24% |
| Exelon Corporation EXC | $41.80 | $36.26 | −13% |
| Consolidated Edison, Inc ED | $103.84 | $47.92 | −54% |
| Public Service Enterprise Group PEG | $69.12 | $33.43 | −52% |
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Frequently asked questions
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Key figures of Hawaiian Electric Industries Inc
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