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Companies / Utilities / Hawaiian Electric Industries, Inc.
HE

Hawaiian Electric Industries, Inc.

UtilitiesElectric, Gas & Water
Ticker HEHONOLULU, HIFiscal year ends DecemberBook value per share $10.38Diluted shares 173.6M

Hawaiian Electric Industries, Inc. (NYSE: HE) is a Hawaii-based holding company whose principal business is regulated electric service. Its utilities produce, purchase, transmit, distribute and sell electricity to residential, commercial, government and agricultural customers across Oahu, Hawaii, Maui, Lanai and… From the company’s description.

Over the twelve months to Sep 30, 2026, Hawaiian Electric Industries, Inc. reported revenue of $3.50B, up 26.5% from a year earlier, and net income of $230.46M. Its operating margin was 10.5%, and operations used $124.61M in cash. In fiscal 2025, it reported revenue of $3.09B, down 4.1% from fiscal 2024, and net income of $126.28M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$3.09BFY2025
−4.1% year over year
Last 12 mo $3.50B
7.62%FY2025
+60.6 percentage points
Last 12 mo 10.45%
$126.28MFY2025
+108.9% year over year
Last 12 mo $230.46M
7.67%FY2025
+104.1 percentage points
Last 12 mo 12.69%
Cash & financing
$391.07MFY2025
−19.8% year over year
Last 12 mo $-124.61M
$49.87MFY2025
−65.2% year over year
Last 12 mo $-609.80M
1.82FY2025
Was 3.51× a year earlier
Last 12 mo 1.56
173.0MFY2025
+36.3% year over year
Last 12 mo 173.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Hawaiian Electric Industries, Inc. does

In the company’s own words

Hawaiian Electric Industries, Inc. (NYSE: HE) is a Hawaii-based holding company whose principal business is regulated electric service. Its utilities produce, purchase, transmit, distribute and sell electricity to residential, commercial, government and agricultural customers across Oahu, Hawaii, Maui, Lanai and Molokai, serving approximately 95% of Hawaii’s population through five separate grids. HEI has one reportable segment, Electric utility; its All Other category includes corporate expenses and remaining nonregulated activities. The utilities are HEI’s primary operating businesses, accounting for approximately 99% of consolidated revenue in 2025. Following the sale of American Savings Bank in 2024 and divestitures of most Pacific Current investments in 2025, HEI is focused on divesting its remaining affiliated businesses, with the intention that the utilities become its sole operating companies. The company had 2,675 employees at December 31, 2025. Its website is www.hei.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
HONOLULU, HI
Fiscal year end
December
CIK
354707
SIC
4911

Financial performance, year by year

Fiscal 2011–2025 · USD
$-1.94B$-390.90M$1.16B$2.71B$4.26B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Hawaiian Electric Industries, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

252
funds hold it
0 of 35
superinvestors hold it
$1.03B
held by funds, at market
43.5%
of shares held by funds
1
bond issues held by funds

Largest fund holders · Hawaiian Electric Industries, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.13%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.07%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.03%of fund net assets
Kinetics Paradigm Portfolio
Kinetics Portfolios Trust
4.07%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Hawaiian Electric Industries, Inc.’s bonds, as funds hold them

Funds report holding 1 issues of Hawaiian Electric Industries, Inc.’s debt, $156.69M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 6.00%, maturing 2033 to 2033.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Hawaiian Electric Industries, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Hawaiian Electric Industries, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Hawaiian Electric Industries, Inc.'s last four quarterly filings that the numbers alone won't show?”
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