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Hawaiian Electric Industries logo
Hawaiian Electric Industries HE
$ 8.58 1.06%
report update icon

Quarterly report 2026-Q2
added 08-07-2026

Hawaiian Electric Industries Income Statement 2025-2007 | HE

Brief overview of income trends at Hawaiian Electric Industries

The figures are compared over a five-year interval. Revenue at Hawaiian Electric Industries moved from $2.6 billion in 2020 to $3.1 billion in 2025. Across the full period, sales moved by +19.7%; the average annual rate was 3.7%. Revenue was effectively stagnant over the period.

Over the period, EBITDA shifted from $602 million to $534 million, a change of −11.3%. Operating performance weakened relative to revenue. At the operating-margin level, the figure shifted from 23.3% to 17.3%. Operating return per unit of revenue declined.

The net result moved from 200 million dollars to 123 million dollars, or −38.4%. The final result developed less favorably than the core business.

The five-year change in capitalization reached −46%: from 3.4 billion dollars to 1.9 billion dollars. Lower capitalization reflects weaker investor expectations.

Overall conclusion

Signs of deterioration dominate the five-year picture. The overall view is constrained by a weaker market valuation, lower net income and limited revenue growth. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.

Annual Income Statement Hawaiian Electric Industries

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

Market Cap

1.85 B 1.39 B 1.34 B 4.43 B 4.56 B 3.43 B 5.38 B 3.98 B 3.69 B 3.56 B 3.18 B 3.5 B 2.59 B 2.59 B 2.46 B 2.03 B 1.64 B 2.25 B -

Shares

173 M 127 M 110 M 109 M 109 M 109 M 109 M 109 M 109 M 108 M 106 M 102 M 99 M 96.9 M 95.5 M 93.4 M 91.4 M 84.6 M -

Historical Prices

10.7 11 12.2 40.5 41.8 31.4 45 33.2 29.4 27.7 23.8 26.2 18.9 18.7 17.1 21.7 17.9 26.5 24.4

Net Income

123 M -1.43 B 199 M 241 M 248 M 200 M 220 M 204 M 167 M 250 M 162 M 170 M 163 M 141 M 140 M 114 M 83 M 90.3 M -

Revenue

3.09 B 3.22 B 3.29 B 3.42 B 2.85 B 2.58 B 2.87 B 2.86 B 2.56 B 2.38 B 2.6 B 3.24 B 3.24 B 3.37 B 3.24 B 2.66 B 2.31 B 3.22 B -

Gross Profit

- - - - - - 349 M 333 M 338 M 348 M 323 M 329 M 315 M 284 M 290 M - - - -

Operating Income

235 M -1.71 B 275 M 280 M 386 M 311 M 348 M 333 M 346 M 356 M 323 M 333 M 318 M 284 M 290 M 256 M 188 M 204 M -

Interest Expense

- - 208 M 117 M 99.4 M 99.8 M 109 M 104 M 91.1 M 88.6 M 88.5 M 87.2 M 85.6 M 89.4 M 96.6 M 102 M 120 M - -

EBITDA

534 M -1.41 B 557 M 550 M 665 M 602 M 627 M 589 M 560 M 553 M 518 M 510 M 480 M 443 M 457 M 415 M 344 M 355 M -

Operating Expenses

- - - - - - 2.53 B 2.53 B 2.21 B 2.02 B 2.28 B 2.91 B 2.92 B 3.09 B 2.95 B - - - -

All numbers in USD currency

Quarterly Income Statement Hawaiian Electric Industries

2026-Q2 2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2

Shares

173 M 173 M 173 M 172 M 172 M 172 M 114 M 110 M 110 M 110 M 110 M 110 M 110 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 109 M 108 M 108 M 108 M 107 M 107 M 107 M 103 M 103 M 102 M 101 M 101 M 101 M 99.2 M 98.7 M 98.1 M 97.9 M 97.2 M 96.7 M 96.2 M 96 M 95.9 M 95.4 M 94.8 M 93.7 M 93.2 M

Net Income

154 M 30.4 M 30.7 M 26.1 M 27.1 M - -104 M -1.3 B 42.6 M - 41.6 M 55.1 M 54.7 M - 62.6 M 53 M 69.2 M - 63.9 M 63.9 M 64.4 M 51 M 65.5 M 49.4 M 33.9 M 66.7 M 63.9 M 43 M 46.2 M 50 M 66.4 M 46.5 M 40.7 M 32.8 M 60.5 M 39.1 M 34.7 M 45.1 M 128 M 44.6 M 32.8 M 42.8 M 51.1 M 35.5 M 32.3 M 33.7 M 48.3 M 41.8 M 46.3 M 39.5 M 48.7 M 41.1 M 34.2 M 14.3 M 48.2 M 39.3 M 38.8 M 34.2 M 48.9 M 27.1 M 28.5 M 32.4 M 29.3 M

Revenue

940 M 746 M 791 M 746 M 744 M - 833 M 795 M 792 M - 902 M 896 M 928 M - 1.04 B 896 M 785 M - 757 M 680 M 643 M 652 M 641 M 609 M 677 M 726 M 771 M 715 M 662 M 762 M 768 M 685 M 646 M 659 M 673 M 632 M 592 M 617 M 646 M 566 M 551 M 624 M 717 M 624 M 638 M 790 M 867 M 799 M 784 M 833 M 829 M 795 M 782 M 838 M 868 M 854 M 815 M 851 M 886 M 794 M 711 M 695 M 656 M

Operating Income

204 M 53.4 M 52 M 53.7 M 62.4 M - -150 M -1.66 B 50.9 M - 75.1 M 93 M 93.5 M - 102 M 86.7 M 99.3 M - 97.3 M 102 M 98 M 80.7 M 99.6 M 71.6 M 59.7 M 101 M 96.7 M 72.6 M 77.9 M 84.6 M 98.1 M 78.8 M 71.9 M 87.2 M 111 M 77.8 M 69.7 M 88.4 M 105 M 85.5 M 68.9 M 83.2 M 97.1 M 72.7 M 69.5 M 68.2 M 92 M 83.2 M 89.2 M 78.3 M 88 M 80.2 M 68.8 M 37.3 M 91.7 M 79.4 M 75.8 M 68.2 M 94.5 M 63.7 M 63.4 M 72.6 M 63.6 M

EBITDA

280 M 129 M 126 M 130 M 128 M - -76.4 M -1.59 B 117 M - - - 160 M - 292 M 213 M 162 M - 282 M 225 M 159 M 80.7 M 278 M 191 M 119 M 101 M 269 M 187 M 135 M 84.6 M 258 M 185 M 125 M 87.2 M 262 M 178 M 120 M 88.4 M 251 M 183 M 117 M 83.2 M 235 M 164 M 115 M 68.2 M 222 M 170 M 132 M 78.3 M 208 M 160 M 109 M 37.3 M 205 M 155 M 114 M 68.2 M 206 M 139 M 101 M 190 M 143 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company Hawaiian Electric Industries (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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