Hawaiian Electric Industries Inc (HE) valuation
Hawaiian Electric Industries P/E ratio history
Hawaiian Electric Industries trades at 6.7 times its earnings over the last twelve months and 9.6 times the earnings analysts expect over the next twelve. At its last 9 fiscal year ends its P/E ranged from 7.8 (year to Dec 2023) to 23.8 (year to Dec 2017), with a median of 19.0.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $12.30 | $0.71 | 17.3 | 12.8 |
| Dec 31, 2024 | $9.73 | -$12.67 | n/m | 5.5 |
| Dec 31, 2023 | $14.19 | $1.81 | 7.8 | 6.8 |
| Dec 31, 2022 | $41.85 | $2.20 | 19.0 | 18.6 |
| Dec 31, 2021 | $41.50 | $2.25 | 18.4 | 19.2 |
| Dec 31, 2020 | $35.39 | $1.81 | 19.6 | — |
| Dec 31, 2019 | $46.86 | $2.00 | 23.4 | — |
| Dec 31, 2018 | $36.62 | $1.84 | 19.9 | — |
| Dec 31, 2017 | $36.15 | $1.52 | 23.8 | — |
| Dec 31, 2016 | $33.07 | $2.29 | 14.4 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Hawaiian Electric Industries valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Hawaiian Electric IndustriesHE | $1.50B | 6.7 | 9.6 | 0.5 |
| Northwest Natural HoldingNWN | $2.10B | 16.7 | 15.8 | 1.6 |
| Middlesex WaterMSEX | $1.06B | 20.5 | 19.7 | 5.1 |
| UnitilUTL | $998M | 17.7 | 16.3 | 1.7 |
| H2O AmericaHTO | $2.50B | 23.4 | 21.5 | 3.0 |
| Mge EnergyMGEE | $2.71B | 18.1 | 18.0 | 3.5 |
| California Water Service GroupCWT | $3.00B | 21.7 | 18.0 | 2.8 |
| AvistaAVA | $3.10B | 13.6 | 13.9 | 1.6 |
| Chesapeake UtilitiesCPK | $3.27B | 21.8 | 19.8 | 3.3 |
| Peer median | 19.3 | 18.0 | 2.9 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: HE financials · HE returns
No forecast, no recommendation. This page describes Hawaiian Electric Industries Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.