HE
Hawaiian Electric Industries
PE ratio, current and historical analysis
The current PE ratio for Hawaiian Electric Industries stock as of Jun 22, 2026 is 17.41. This is calculated based on the current EPS of $0.74 and the stock price of $12.88 per share. The PE ratio has decreased by 11% from the past four quarters average of 19.6.
HE PE ratio history
The average historical PE ratio of Hawaiian Electric Industries for the last ten years is 18.33. The current P/E ratio of 17.41 is 5% lower than the historical average. In the past ten years, HE's PE ratio peaked in the Jun 2025 quarter at 33.22, when the stock price was $10.63 and the EPS was $0.32. The lowest point was in the Sep 2023 quarter, when it reached 6.51 with a price of $12.31 and an EPS of $1.89.
Hawaiian Electric Industries PE ratio by year
Maximum annual increase: 65.37% in 2017
Maximum annual decrease: -58.99% in 2023
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 17.32 | N/A | $12.3 | $0.71 |
| 2024 | N/A | N/A | $9.73 | -$11.23 |
| 2023 | 7.8 | -58.99% | $14.19 | $1.82 |
| 2022 | 19.02 | 3.15% | $41.85 | $2.2 |
| 2021 | 18.44 | -5.68% | $41.5 | $2.25 |
| 2020 | 19.55 | -16.56% | $35.39 | $1.81 |
| 2019 | 23.43 | 18.39% | $46.86 | $2 |
| 2018 | 19.79 | -16.78% | $36.62 | $1.85 |
| 2017 | 23.78 | 65.37% | $36.15 | $1.52 |
| 2016 | 14.38 | -25.49% | $33.07 | $2.3 |
| 2015 | 19.3 | -4.88% | $28.95 | $1.5 |
| 2014 | 20.29 | 26.89% | $33.48 | $1.65 |
| 2013 | 15.99 | -9.04% | $26.06 | $1.63 |
| 2012 | 17.58 | -3.72% | $25.14 | $1.43 |
| 2011 | 18.26 | -2.25% | $26.48 | $1.45 |
Hawaiian Electric Industries PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 20.05 | 15.76% | $14.84 | $0.74 |
| Dec 2025 | 17.32 | 121.2% | $12.3 | $0.71 |
| Sep 2025 | 7.83 | -76.43% | $11.04 | $1.41 |
| Jun 2025 | 33.22 | N/A | $10.63 | $0.32 |
| Mar 2025 | N/A | N/A | $10.95 | -$11.57 |
| Dec 2024 | N/A | N/A | $9.73 | -$11.23 |
| Sep 2024 | N/A | N/A | $9.68 | -$11.82 |
| Jun 2024 | N/A | N/A | $9.02 | -$10.54 |
| Mar 2024 | 6.63 | -15% | $11.27 | $1.7 |
| Dec 2023 | 7.8 | 19.82% | $14.19 | $1.82 |
| Sep 2023 | 6.51 | -62.41% | $12.31 | $1.89 |
| Jun 2023 | 17.32 | -6.63% | $36.2 | $2.09 |
| Mar 2023 | 18.55 | -2.47% | $38.4 | $2.07 |
| Dec 2022 | 19.02 | 19.62% | $41.85 | $2.2 |
| Sep 2022 | 15.9 | -14.88% | $34.66 | $2.18 |
HE Price vs fair value
HE average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of HE is higher than its 3 and 5-year historical averages, but it is lower than the 10-year average.
PE comparison
Hawaiian Electric Industries's P/E of 17.41 is above its peers average but below the Utilities sector and the industry average. In comparison with its Utilities sector average of 19.66, Hawaiian Electric Industries's P/E is 11% lower.
HE PE vs peers
In comparison to its peers XEL and PNW, HE's PE ratio is lower, but it is higher than PCG's and EIX's. Hawaiian Electric Industries's PE ratio is trading above the peer group average of 16.44.
| Stock name | PE ratio | Market cap |
|---|---|---|
| AES Aes Corp | 7.82 | $10.43B |
| EIX Edison International | 7.84 | $27.86B |
| PCG PG&E Corp | 12.93 | $36.73B |
| AVA Avista Corp | 15.82 | $3.28B |
| HE Hawaiian Electric Industries Inc | 17.41 | $2.22B |
| PNW Pinnacle West Capital Corp | 18.79 | $12.41B |
| POR Portland General Electric Co | 22.41 | $5.81B |
| XEL Xcel Energy Inc | 22.69 | $49.44B |
| IDA Idacorp Inc | 23.4 | $7.91B |
Frequently asked questions
What is Hawaiian Electric Industries's PE ratio?
The price to earnings ratio for HE stock is 17.41 as of Jun 22, 2026.
What is the 3-year average PE ratio for Hawaiian Electric Industries (HE)?
The average PE ratio for HE stock over the past 3 years is 14.59.
What is the 5-year average PE ratio for Hawaiian Electric Industries (HE)?
The average PE ratio for HE stock over the past 5 years is 16.45.
What is the highest PE ratio for HE?
The highest quarterly PE ratio in the last ten years has been 33.22 and it was in the Jun 2025 quarter.
How does the current PE ratio for HE compare to its historical average?
The current price to earnings ratio of HE is 5% lower than the 10-year historical average.
How is HE's PE ratio calculated (Hawaiian Electric Industries PE ratio formula)?
You can calculate the P/E ratio by dividing the most recent stock price by the trailing twelve months EPS. As of today (Jun 22, 2026), Hawaiian Electric Industries's stock price is $12.88. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $0.74. Therefore, Hawaiian Electric Industries's PE ratio for today is 17.41. PE RATIO(17.41) = STOCK PRICE($12.88) / TTM EPS($0.74)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.