We are lowering our moat rating for Hawaiian Electric to none from narrow. The change resulted in a $1 cut to our fair value estimate. Hawaiian Electric Industries' Extreme Uncertainty Rating remains unchanged.
Regulation in Hawaii has improved with performance-based ratemaking reducing earnings volatility while offering opportunities for management to earn incentives.
Wildfires in Hawaiian Electric's service territory have significantly increased investor risk. If Hawaiian Electric is found responsible for the damages, shareholders will face years of uncertainty and the risk for significant losses.
|
Metric
|
HE
|
EVRG
|
PNW
|
|---|---|---|---|
Price/Earnings (Normalized) | 4.49 | 15.09 | 16.53 |
Price/Book Value | 0.37 | 1.26 | 1.39 |
Price/Sales | 0.24 | 2.20 | 1.84 |
Price/Cash Flow | 2.01 | 6.63 | 7.22 |
|
Metric
|
HE
|
EVRG
|
PNW
|
|---|---|---|---|
Quick Ratio | 26.08 | 0.07 | 0.19 |
Current Ratio | 26.15 | 0.57 | 0.58 |
Interest Coverage | 2.75 | 2.36 | 2.72 |
|
Metric
|
HE
|
EVRG
|
PNW
|
|---|---|---|---|
Return on Assets (Normalized) | 1.12% | 2.63% | 2.02% |
Return on Equity (Normalized) | 8.24% | 8.36% | 7.96% |
Return on Invested Capital (Normalized) | 4.61% | 5.90% | 4.65% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
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