HE Hawaiian Electric Industries, Inc. Common Stock
NYSE · Utilities · View on SEC EDGAR ↗ 10-K/10-Q Aug 7, 2026HE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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| Ex-date | Split | Type |
|---|---|---|
| June 14, 2004 | 2-for-1 | Forward |
| May 24, 1984 | 2-for-1 | Forward |
About Hawaiian Electric Industries, Inc. Common Stock Company overview from Wikipedia
Hawaiian Electric Industries, Inc. (HEI) is the largest supplier of electricity in the U.S. state of Hawaii, supplying power to 95% of Hawaii's population through its electric utilities: Hawaiian Electric Company serving Oahu, Hawai'i Electric Light Company serving The Big Island, and Maui Electric Company serving Maui, Lanai and Molakai.
Hawaiian Electric Company (abbreviated HECO and pronounced HEE-coh), Hilo Electric Light Company (later renamed Hawai'i Electric Light Company, abbreviated HELCO and pronounced HEL-coh), and Maui Electric Company (abbreviated MECO and pronounced MEE-coh) employ more than 2,000 people. Approximately 20,000 Hawaii residents are shareholders of HECO’s parent company, Hawaiian Electric Industries. The company is headquartered in Honolulu.
The island of Kauai is the only Hawaiian island not supplied by HEI. Instead, the consumer-owned Kauai Island Utility Cooperative manages that island's electricity.
History
Hawaiian Electric Company incorporated on October 13, 1891. Thus, Hawaiian Electric Company began while the independent country of the Kingdom of Hawaii existed. Within about 16 years, the utility had 2,500 customers on Oahu. By 1914 HECO had started rural service to the windward side of the island and was marketing electric products like refrigerators and flat irons. In 1937 HECO broke ground on its second power plant, and transmission lines soon crisscrossed Oahu.
War and statehood
During World War II, HECO power plants linked to US military bases, generating more than one million kilowatt hours of electricity each day. (= > 42 MW average power).
Hawaii became a US state in 1959, and by then Oahu was entirely electrified. HECO opened a 116 MW plant in downtown Honolulu in 1954. The state's first reheat steam turbine generator went on line at Kahe on the west coast of Oahu. Today, Kahe is the state's largest plant with a total generating capacity of 650 MW.
Island expansion
HECO purchased Maui Electric Company in 1968. In 1970, HECO acquired the Hawaii Island's Hilo Electric Light Company. In 1988 MECO acquired the Lāna‘i City power plant on the island of Lānaʻi, and in 1989, Molokai Electric Company on the island of Molokaʻi. Hawaiian Electric Industries, Inc. (HEI) was created as a holding company for these various utilities in 1983. In 2013, HECO began working with Siemens to develop a self-healing grid in eastern Oʻahu and Waikīkī to ensure a reliable electrical supply.
On December 4, 2014, NextEra Energy tendered an offer to purchase HEI for $4.3 billion (equivalent to $5.6 billion in 2024). The sale required approval by the Hawaii Public Utilities Commission. On July 18, 2016, it was announced that the merger was cancelled after the Public Utilities Commission disapproved the deal. The merger included plans to convert HEI's oil-fired generating plants to run on natural gas, which were to use liquified natural gas imported from a British Columbia plant of FortisBC. The upgrades were cancelled as they were dependent upon approval of the merger.
On December 24, 2019, HECO announced that it would begin operating under a single name with its subsidiaries MECO and HELCO—Hawaiian Electric.
Maui wildfires
On August 8, 2023, brush fires ignited on various parts of Maui. Fires in Lahaina and Upcountry caused widespread damage to populated areas, and the Lahaina fire was responsible for at least 102 deaths and an estimated $5.5 billion in damage. Power lines owned by Hawaiian Electric were blown down and over 12,000 people on Maui were left without power. Investigations are currently underway to officially determine what caused the fire, and they are currently looking into whether downed power lines and decisions by Hawaiian Electric were the cause of the deadly wildfires. Hawaii was experiencing high winds and was under a red flag warning when the wildfires broke out, which Hurricane Dora passing to the south may have contributed to.
After the catastrophic and deadly wildfires, Hawaiian Electric's stock severely plummeted approximately 40%, its lowest since 2010, after it was facing a class action lawsuit that alleged that Maui’s devastating wildfires were caused by the utility’s energized power lines that were knocked down by strong winds, and that it chose not to shut off its power lines ahead of the Maui wildfires, despite knowing the safety risks of sparking a fire in those kind of conditions. It also stated that Hawaiian Electric still refused to shut down power lines despite it knowing that some of its power lines were knocked out by the heavy, high speed winds. On August 23, it was reported that Hawaiian Electric had no procedure in place for turning off the grid — a common practice in other fire-prone states.
In July 2024, a tentative agreement was reached and Hawaiian Electric Industries, along with the State of Hawaii, Maui County, Kamehameha Schools and others would agree to pay thousands of plaintiffs and victims over $4 billion to settle the lawsuits.
Generation
In 2023, power handled by HEI was 33.3% renewable. Hawai‘i Island set a record for HEI, generating a peak of 92.3% renewable power on April 25, 2023. In 2023 HECO generated 10.2 TWh, of which 3.4 TWh was renewable. The remaining generation, 6.8 TWh, came from oil.
Hawaiian Electric supports the adoption of electric vehicles. The company's goal is to have the majority of vehicles in Hawaii be electric vehicles by 2045. As of November 2018, EVs were 1% of all vehicles. Hawaiian Electric filed a road map with the state.
List shows HEI-owned power plants. Totals include power purchased from independent plant owners of various types and distributed solar.
Oahu
HEI's total firm generating capability in 2023 is 1,614.5 megawatts serving 306,978 customers. Non-firm capacity was 987.6 megawatts. In 2022, 28% of power came from renewable resources, compared to 25% in 2020.
Maui/Lanai/Molokai
Total firm generating capability in 2022 was 273.1 megawatts serving 73,933 customers. Non-firm capacity was 212.2 MW. 35.6% came from renewable resources, compared to 40.8% in 2020.
Hawaii
Total firm generating capability in 2022 was 280.5 megawatts serving 88,757 customers. Non-firm capacity was 168.6 MW. 47.9% came from renewable resources, compared to 34.7% in 2020.
Electric vehicles
Through a cooperative effort with HECO, High Technology Development Corporation (HTDC), an agency of the State of Hawai’i, initiated the Hawai’i Electric Vehicle Demonstration Project (HEVDP) consortium to develop an electric vehicle industry in Hawai’i. The islands had about 5,000 rechargeable vehicles as of 2017.
Plans
In 2015, the Hawaii State Legislature amended the State's Renewable Portfolio Standards to establish the nation's first goal of 100% renewable energy:
Hawaiian Electric has indicated in its Power Supply Improvement Plan that it will achieve these goals ahead of schedule. From 2021, HEI transitioned away from cost of service to Performance Based Regulation.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | HE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 6.55Y avg ≈12.4 | ≈12.4 | 19.4 | Undervalued | |
| P/S (TTM) | 0.45Y avg ≈0.9 | ≈0.9 | 2.3 | Undervalued | |
| P/B (MRQ) | 0.85Y avg ≈1.4 | ≈1.4 | 2.1 | Undervalued | |
| EV / EBITDA | 2.0 | · | 14.4 | Undervalued | |
| Price / FCF (TTM) | -2.65Y avg ≈37.0 | ≈37.0 | · | · | |
| Price / Cash Flow (TTM) | -10.15Y avg ≈6.8 | ≈6.8 | 8.8 | Undervalued | |
| EV / Revenue | 0.3 | · | · | · | |
| EV / FCF | 21.6 | · | · | · | |
| Price / Tangible Book | 0.95Y avg ≈1.5 | ≈1.5 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | HE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 11.5%5Y avg ≈-2.4% | ≈-2.4% | 14.9% | Top tier | |
| EBITDA Margin (TTM) | 20.5%5Y avg ≈6.6% | ≈6.6% | 29.8% | In line | |
| Pretax Margin (TTM) | 9.0%5Y avg ≈-4.9% | ≈-4.9% | 17.5% | In line | |
| Net Profit Margin (TTM) | 6.9%5Y avg ≈-3.9% | ≈-3.9% | 8.3% | Weak | |
| ROA (TTM) | 2.7%5Y avg ≈-2.3% | ≈-2.3% | 3.4% | Weak | |
| ROE (TTM) | 13.7%5Y avg ≈-11.0% | ≈-11.0% | 9.7% | Weak | |
| ROIC | 10.3%5Y avg ≈-5.5% | ≈-5.5% | 6.5% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | HE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.0 | · | 0.4 | Low debt | |
| Current Ratio (MRQ) | 1.0 | · | 1.1 | In line | |
| Quick Ratio | 0.7 | · | 0.4 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | HE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -4.1%5Y avg ≈4.1% | ≈4.1% | · | · | |
| Revenue CAGR 3Y | -3.4%5Y avg ≈3.1% | ≈3.1% | · | · | |
| Revenue CAGR 5Y | 3.6% | · | · | · | |
| EPS YoY | -17.7%5Y avg ≈1.5% | ≈1.5% | · | · | |
| Net Income YoY | -17.2%5Y avg ≈1.6% | ≈1.6% | · | · | |
| EPS CAGR 3Y | -31.4% | · | · | · | |
| EPS CAGR 5Y | -17.1% | · | · | · | |
| Net Income CAGR 3Y | -19.6% | · | · | · | |
| Net Income CAGR 5Y | -8.8% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | HE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.35Y avg ≈0.3 | ≈0.3 | 0.3 | Top tier | |
| Receivables Turnover | 6.5 | · | 7.0 | Weak | |
| Revenue / Employee | ≈$1.2M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 17, 2023 | $0.36 | USD | ≈11.9% |
| May 18, 2023 | $0.36 | USD | ≈3.9% |
| Feb 22, 2023 | $0.36 | USD | ≈3.4% |
| Nov 21, 2022 | $0.35 | USD | ≈3.5% |
| Aug 17, 2022 | $0.35 | USD | ≈3.2% |
| May 19, 2022 | $0.35 | USD | ≈3.3% |
| Feb 23, 2022 | $0.35 | USD | ≈3.4% |
| Nov 22, 2021 | $0.34 | USD | ≈3.4% |
| Aug 18, 2021 | $0.34 | USD | ≈3.0% |
| May 19, 2021 | $0.34 | USD | ≈3.1% |
| Feb 24, 2021 | $0.34 | USD | ≈3.9% |
| Nov 19, 2020 | $0.33 | USD | ≈3.6% |
| Aug 20, 2020 | $0.33 | USD | ≈3.8% |
| May 21, 2020 | $0.33 | USD | ≈3.5% |
| Feb 25, 2020 | $0.33 | USD | ≈2.7% |
| Nov 21, 2019 | $0.32 | USD | ≈2.9% |
| Aug 21, 2019 | $0.32 | USD | ≈2.8% |
| May 22, 2019 | $0.32 | USD | ≈3.0% |
| Feb 25, 2019 | $0.32 | USD | ≈3.3% |
| Nov 20, 2018 | $0.31 | USD | ≈3.3% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 7, 2026 | $0.13 | $0.18 | -25.8% |
| March 31, 2026 | $0.18 | $0.29 | -37.4% | |
| Dec. 31, 2025 | $0.24 | $0.24 | -1.9% | |
| Sept. 30, 2025 | $0.19 | $-0.21 | 191.3% | |
| June 30, 2025 | $0.20 | $0.19 | 6.7% | |
| March 31, 2025 | $0.23 | $0.24 | -3.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.09B | $3.22B | $3.29B | $3.42B | $2.85B | $2.58B | $2.87B | $2.86B | $2.56B | $2.38B | $2.60B | $3.24B | |
| Operating Expenses | $2.85B | $4.93B | $3.01B | $3.14B | $2.46B | $2.27B | $2.53B | $2.53B | $2.21B | $2.02B | $2.28B | $2.91B | |
| Operating Income | $235M | $-1.71B | $275M | $280M | $386M | $311M | $348M | $333M | $346M | $356M | $323M | $333M | |
| Interest Expense | · | · | $208M | $117M | $99M | $100M | $109M | $104M | $91M | $89M | $88M | $87M | |
| Interest Income | $37M | $19M | $9M | $0 | $43M | $31M | $33M | $38M | $29M | $19M | $15M | $12M | |
| Pretax Income | $167M | $-1.79B | $182M | $202M | $311M | $241M | $271M | $254M | $277M | $374M | $255M | $266M | |
| Income Tax | $41M | $-471M | $35M | $39M | $63M | $41M | $52M | $51M | $109M | $124M | $93M | $96M | |
| Net Income | $126M | $-1.42B | $201M | $243M | $248M | $200M | $220M | $204M | $167M | $250M | $162M | $170M | |
| EPS (Basic) | $0.71 | $-11.23 | $1.82 | $2.20 | $2.25 | $1.81 | $2.00 | $1.85 | $1.52 | $2.30 | $1.50 | $1.65 | |
| EPS (Diluted) | $0.71 | $-11.23 | $1.81 | $2.20 | $2.25 | $1.81 | $1.99 | $1.85 | $1.52 | $2.29 | $1.50 | $1.63 | |
| Shares (Basic) | 172,553,000 | 126,927,000 | 109,739,000 | 109,434,000 | 109,282,000 | 109,140,000 | 108,949,000 | 108,855,000 | 108,749,000 | 108,102,000 | 106,418,000 | 101,968,000 | |
| Shares (Diluted) | 173,017,000 | 126,927,000 | 110,038,000 | 109,778,000 | 109,580,000 | 109,356,000 | 109,407,000 | 109,146,000 | 108,933,000 | 108,309,000 | 106,721,000 | 102,937,000 | |
| EBITDA | $534M | $-1.41B | $663M | $676M | $665M | $602M | $627M | $589M | $560M | $553M | $518M | $508M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $502M | $751M | $244M | $44M | $306M | $341M | $197M | $169M | $262M | $278M | $300M | · | |
| Receivables | $492M | $457M | $547M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | $306M | $380M | $332M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $1.88B | $2.13B | · | · | · | · | · | · | · | · | · | · | |
| PP&E (Net) | $6.19B | $6.13B | $5.96B | $5.69B | $5.39B | $5.27B | $5.11B | $4.83B | $4.46B | $4.60B | $4.38B | $4.15B | |
| PP&E (Gross) | $9.71B | $9.51B | $9.20B | $8.88B | $8.42B | $8.17B | $7.88B | $7.49B | $7.01B | $7.05B | $6.72B | $6.40B | |
| Accum. Depreciation | $3.52B | $3.38B | $3.24B | $3.19B | $3.03B | $2.90B | $2.77B | $2.66B | $2.55B | $2.44B | $2.34B | $2.25B | |
| Goodwill | · | · | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | |
| Other Non-current Assets | $316M | $261M | $202M | · | · | · | · | · | · | · | · | · | |
| Total Assets | $8.92B | $8.93B | $7.68B | $16.28B | $15.82B | $15.00B | $13.75B | $13.10B | $12.53B | $11.88B | $11.78B | $11.18B | |
| Accounts Payable | $219M | $203M | $199M | · | · | · | · | · | · | · | · | · | |
| Short-term Debt | $0 | $49M | $0 | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $1.43B | $1.32B | · | · | · | · | · | · | · | · | · | · | |
| Capital Leases | $43M | $57M | $70M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | · | $0 | $402M | $262M | $385M | $395M | $379M | $373M | $388M | $729M | · | $634M | |
| Other Non-current Liabilities | $203M | $243M | $248M | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $7.32B | $7.42B | $14.86B | $14.05B | $13.40B | $12.63B | $11.43B | $10.91B | $10.40B | $10.32B | $9.82B | $9.36B | |
| Long-term Debt | $2.29B | $2.69B | $2.83B | $2.38B | $2.32B | $2.12B | $1.96B | $1.88B | $1.68B | $1.62B | $1.58B | $1.51B | |
| Total Debt | $125M | $158M | · | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-666M | $-789M | $927M | $846M | $758M | $660M | $622M | $544M | $477M | $439M | $325M | $297M | |
| AOCI | $3M | $3M | $-289M | $-336M | $-53M | $-1M | $-20M | $-51M | $-42M | $-33M | $-26M | $-27M | |
| Stockholders' Equity | $1.61B | $1.48B | $2.34B | $2.20B | $2.39B | $2.34B | $2.28B | $2.16B | $2.10B | $2.07B | $1.93B | $1.79B | |
| Liabilities + Equity | $8.92B | $8.93B | $17.24B | $16.28B | $15.82B | $15.00B | $13.75B | $13.10B | $12.53B | $12.43B | $11.78B | $11.19B | |
| Shares Outstanding | 172,620,476 | 172,465,608 | 110,151,798 | 109,470,795 | 109,311,785 | 109,181,124 | 108,973,328 | 108,879,245 | 108,787,807 | 108,583,413 | 107,460,406 | 102,565,266 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $299M | $294M | $282M | $270M | $279M | $291M | $278M | $256M | $222M | $205M | $196M | $183M | |
| Stock-based Comp | $3M | $4M | $7M | $7M | $9M | $6M | $10M | $8M | $5M | $5M | $7M | $9M | |
| Deferred Tax | $-11M | $-486M | $9M | $-33M | $-5M | $-2M | $-15M | $-9M | $38M | $47M | $41M | $104M | |
| Other Non-cash | $-27M | $2.10B | $24M | $-61M | $-155M | $-65M | $20M | $42M | $-12M | $-12M | $-49M | $-138M | |
| Operating Cash Flow | $391M | $487M | $551M | $454M | $376M | $429M | $512M | $499M | $420M | $496M | $357M | $325M | |
| CapEx | $341M | $344M | $443M | $339M | $315M | $384M | $458M | $537M | $495M | $330M | $364M | $365M | |
| Investing Cash Flow | $-322M | $258M | $-257M | $-1.13B | $-1.18B | $-1.41B | $-542M | $-792M | $-815M | $-736M | $-706M | · | |
| Debt Issued | $510M | $5M | $625M | $227M | $286M | $416M | $289M | $250M | $532M | $115M | $80M | $125M | |
| Net Debt Issued | $-224M | $-92M | $458M | $5M | $204M | $237M | $2M | $196M | $67M | $40M | $80M | $14M | |
| Stock Issued | $0 | $557M | $1M | $0 | $0 | · | · | · | · | · | · | · | |
| Net Stock Activity | $0 | $557M | $1M | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $0 | $0 | $74M | $111M | $149M | $144M | $139M | $135M | $135M | $117M | $132M | $126M | |
| Financing Cash Flow | $-331M | $155M | $196M | $568M | $756M | $1.12B | $88M | $200M | $378M | $219M | $474M | · | |
| Net Change in Cash | $-262M | $901M | $490M | $-107M | $-48M | $131M | $58M | $-93M | $-17M | $-22M | $125M | · | |
| Free Cash Flow | $50M | $143M | $103M | $110M | $61M | $46M | $55M | $-38M | $-75M | $165M | $-8M | $-39M | |
| Levered FCF | · | · | $-67M | $17M | $-18M | $-37M | $-34M | $-121M | $-130M | $106M | $-64M | $-96M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 7.6% | -53.0% | 9.6% | 10.2% | 13.5% | 12.1% | 12.1% | 11.7% | 13.2% | 14.6% | 12.4% | 10.2% | |
| Net Margin | 4.1% | -44.2% | 5.5% | 6.5% | 8.7% | 7.7% | 7.6% | 7.1% | 6.5% | 10.5% | 6.2% | 5.2% | |
| Pretax Margin | 5.4% | -55.6% | 6.7% | 8.1% | 10.9% | 9.3% | 9.4% | 8.9% | 10.8% | 15.7% | 9.8% | 8.1% | |
| EBITDA Margin | 17.3% | -43.9% | 18.0% | 18.1% | 23.3% | 23.4% | 21.8% | 20.6% | 21.9% | 23.2% | 19.9% | 15.7% | |
| ROA | 1.4% | -17.2% | 1.2% | 1.5% | 1.6% | 1.4% | 1.6% | 1.6% | 1.3% | 2.1% | 1.4% | · | |
| ROE | 8.0% | -93.2% | 8.8% | 11.1% | 10.4% | 8.6% | 9.7% | 9.5% | 8.0% | 12.1% | 8.4% | · | |
| ROIC | 10.3% | -76.9% | 12.3% | 13.8% | 12.9% | 11.1% | 12.4% | 12.3% | 9.8% | 11.3% | 10.6% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | · | · | · | · | · | · | · | · | · | · | · | |
| Quick Ratio | 0.7 | · | · | · | · | · | · | · | · | · | · | · | |
| Debt / Equity | 0.1 | 0.1 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | 1.7 | 3.3 | 3.9 | 3.1 | 3.2 | 3.2 | 3.7 | 3.9 | 3.6 | 3.8 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.4 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | · | |
| Receivables Turnover | 6.5 | 6.4 | · | · | · | · | · | · | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $9.30 | $8.58 | $21.29 | $20.12 | $21.87 | $21.41 | $20.92 | $19.86 | $19.28 | $19.03 | $17.94 | · | |
| Revenue / Share | $17.84 | $25.37 | $33.46 | $34.09 | $26.01 | $23.59 | $26.27 | $26.21 | $23.46 | $21.98 | $24.39 | $31.47 | |
| Cash Flow / Share | $2.26 | $3.84 | $5.01 | $4.14 | $3.43 | $3.93 | $4.68 | $4.57 | $3.86 | $4.57 | $3.33 | $3.16 | |
| Cash / Share | $2.91 | $4.35 | $6.17 | $1.83 | $2.80 | $3.13 | $1.81 | · | · | · | · | · | |
| Dividend / Share | · | · | $1.08 | $1.40 | $1.36 | $1.32 | $1.28 | $1.24 | $1.24 | $1.24 | $1.24 | $1.24 | |
| EPS (TTM) | $0.71 | $-11.23 | $1.81 | $2.20 | $2.25 | $1.81 | $1.99 | $1.85 | $1.52 | $2.29 | $1.50 | $1.63 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -4.1% | -2.1% | -3.9% | 20.0% | 10.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -3.4% | 4.2% | 8.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.6% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | -17.7% | -2.2% | 24.3% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -31.4% | · | 0.00% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -17.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | -17.2% | -2.0% | 24.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -19.6% | · | 0.24% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -8.8% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.09B | $3.22B | $3.29B | $3.42B | $2.85B | $2.58B | $2.87B | $2.86B | $2.56B | $2.38B | $2.60B | $3.24B | |
| Net Income TTM | $126M | $-1.42B | $201M | $243M | $248M | $200M | $220M | $204M | $167M | $250M | $162M | $170M | |
| Market Cap | $2.12B | $1.68B | $1.56B | $4.58B | $4.54B | $3.86B | $5.11B | $3.99B | $3.93B | $3.59B | $3.11B | · | |
| Enterprise Value | $1.75B | $1.09B | · | · | · | · | · | · | · | · | · | · | |
| P/E | 17.3 | -0.9 | 7.8 | 19.0 | 18.4 | 19.6 | 23.5 | 19.8 | 23.8 | 14.4 | 19.3 | 20.5 | |
| P/S | 0.7 | 0.5 | 0.5 | 1.3 | 1.6 | 1.5 | 1.8 | 1.4 | 1.5 | 1.5 | 1.2 | · | |
| P/B | 1.3 | 1.1 | 0.7 | 2.1 | 1.9 | 1.7 | 2.2 | 1.8 | 1.9 | 1.7 | 1.6 | · | |
| P / Tangible Book | 1.3 | 1.1 | 0.7 | 2.2 | 2.0 | 1.7 | · | · | · | · | · | · | |
| P / Cash Flow | 5.4 | 3.4 | 2.8 | 10.1 | 12.1 | 9.0 | 10.0 | 8.0 | 9.4 | 7.3 | 8.7 | · | |
| P / FCF | 42.6 | 11.7 | 15.1 | 41.5 | 74.2 | 84.9 | 92.9 | -104.8 | -52.6 | 21.7 | -392.6 | · | |
| EV / EBITDA | 3.3 | -0.8 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | 35.0 | 7.6 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 0.6 | 0.3 | · | · | · | · | · | · | · | · | · | · | |
| Dividend Yield | 0.00% | 0.00% | 4.7% | 2.4% | 3.3% | 3.7% | 2.7% | 3.4% | 3.4% | 3.3% | 4.2% | · | |
| Earnings Yield | 5.8% | -115.4% | 12.8% | 5.3% | 5.4% | 5.1% | 4.2% | 5.1% | 4.2% | 6.9% | 5.2% | 4.9% | |
| Payout Ratio | 0.00% | 0.00% | 56.2% | 63.0% | 59.9% | 72.2% | 63.5% | 66.3% | 80.7% | 46.9% | 81.5% | 74.3% | |
| Annual Payout | $0 | $0 | $74M | $111M | $149M | $144M | $139M | $135M | $135M | $117M | $132M | $126M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $940M | $746M | $806M | $791M | $746M | $744M | $799M | $833M | $795M | $792M | $562M | $801M | $799M | $834M | $698M | $1.04B | |
| Operating Expenses | $735M | $693M | $739M | $739M | $693M | $682M | $746M | $983M | $2.46B | $741M | $548M | $827M | $803M | $835M | $707M | $940M | |
| Operating Income | $204M | $53M | $67M | $52M | $54M | $62M | $54M | $-150M | $-1.66B | $51M | $13M | $63M | $68M | $70M | $-9M | $102M | |
| Interest Income | · | · | $10M | $7M | $8M | $13M | $9M | $4M | $3M | $3M | $9M | $0 | $0 | $0 | · | · | |
| Pretax Income | $165M | $39M | $53M | $40M | $40M | $34M | $38M | $-173M | $-1.69B | $28M | $-6M | $49M | $69M | $70M | $-32M | $80M | |
| Income Tax | $41M | $8M | $12M | $9M | $13M | $6M | $8M | $-50M | $-436M | $7M | $-2M | $8M | $14M | $15M | $-9M | $17M | |
| Net Income | $123M | $30M | $41M | $31M | $27M | $27M | $-68M | $-104M | $-1.30B | $43M | $49M | $42M | $55M | $55M | $58M | $63M | |
| EPS (Basic) | $0.71 | $0.18 | $0.23 | $0.18 | $0.15 | $0.15 | $1.04 | $-0.91 | $-11.74 | $0.38 | $0.45 | $0.37 | $0.50 | $0.50 | $0.52 | $0.57 | |
| EPS (Diluted) | $0.71 | $0.18 | $0.23 | $0.18 | $0.15 | $0.15 | $1.04 | $-0.91 | $-11.74 | $0.38 | $0.44 | $0.37 | $0.50 | $0.50 | $0.52 | $0.57 | |
| Shares (Basic) | 172,637,000 | 172,626,000 | · | 172,617,000 | 172,496,000 | 172,478,000 | 172,466,000 | 114,358,000 | 110,303,000 | 110,218,000 | 110,134,000 | 109,728,000 | 109,573,000 | 109,514,000 | · | 109,470,000 | |
| Shares (Diluted) | 173,222,000 | 173,326,000 | · | 172,916,000 | 172,655,000 | 172,812,000 | 172,466,000 | 114,358,000 | 110,303,000 | 110,476,000 | 110,301,000 | 109,917,000 | 109,780,000 | 109,825,000 | · | 109,705,000 | |
| EBITDA | $280M | $129M | · | $126M | $130M | $62M | · | $-127M | $-1.72B | $76M | · | $75M | $93M | $94M | · | $102M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $239M | $453M | $502M | $548M | $154M | $629M | $751M | $1.16B | $550M | $485M | $244M | $667M | $314M | $315M | $44M | $175M | |
| Receivables | · | · | $492M | · | · | · | $457M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | $390M | $342M | $306M | $296M | $305M | $348M | $380M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $1.25B | $1.83B | $1.88B | $1.91B | $1.54B | $1.95B | $2.13B | · | · | · | · | · | · | · | · | · | |
| PP&E (Net) | $6.35B | $6.24B | $6.19B | $6.16B | $6.06B | $6.14B | $6.13B | $6.30B | $6.30B | $6.18B | · | $5.92B | $5.87B | $5.78B | · | $5.60B | |
| PP&E (Gross) | · | · | $9.71B | · | · | · | $9.51B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $3.63B | $3.57B | $3.52B | $3.50B | $3.44B | $3.41B | $3.38B | $3.46B | $3.42B | $3.37B | · | $3.34B | $3.29B | $3.24B | · | $3.17B | |
| Goodwill | · | · | · | · | · | · | · | $0 | $0 | $82M | · | $82M | $82M | $82M | · | $82M | |
| Other Non-current Assets | $257M | · | $316M | · | · | · | $261M | · | · | · | · | · | · | · | · | · | |
| Total Assets | $8.40B | $8.91B | $8.92B | $8.81B | $8.32B | $8.77B | $8.93B | $17.73B | $17.06B | $16.92B | $7.68B | $16.99B | $16.52B | $16.44B | · | $16.26B | |
| Accounts Payable | $306M | $220M | $219M | $217M | $233M | $207M | $203M | · | · | · | · | · | · | · | · | · | |
| Short-term Debt | · | · | $0 | $0 | $49M | $49M | $49M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $1.27B | $1.37B | $1.43B | $1.42B | $1.44B | $1.56B | $1.32B | · | · | · | · | · | · | · | · | · | |
| Capital Leases | $36M | $39M | $43M | $46M | $50M | $54M | $57M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | $0 | $0 | $299M | · | $259M | $273M | $273M | · | $264M | |
| Other Non-current Liabilities | $212M | $214M | $203M | $199M | $215M | $238M | $243M | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $6.64B | $7.28B | $7.32B | $7.22B | $6.76B | $7.23B | $7.42B | $16.12B | $15.94B | $14.51B | · | $14.73B | $14.24B | $14.17B | · | $14.07B | |
| Long-term Debt | $2.27B | $2.28B | $2.29B | $2.30B | $1.86B | $2.20B | $2.69B | $2.84B | $2.84B | $2.84B | · | $2.94B | $2.57B | $2.48B | · | $2.43B | |
| Total Debt | $0 | $125M | · | $143M | $193M | $464M | · | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-512M | $-635M | $-666M | $-705M | $-736M | $-762M | $-789M | $-431M | $-327M | $969M | · | $878M | $876M | $861M | · | $827M | |
| AOCI | $3M | $3M | $3M | $2M | $3M | $3M | $3M | $-258M | $-298M | $-299M | · | $-358M | $-323M | $-316M | · | $-354M | |
| Stockholders' Equity | $1.76B | $1.64B | $1.61B | $1.56B | $1.53B | $1.51B | $1.48B | $1.58B | $1.09B | $2.38B | $2.34B | $2.22B | $2.25B | $2.24B | $2.20B | $2.16B | |
| Liabilities + Equity | $8.40B | $8.91B | $8.92B | $8.81B | $8.32B | $8.77B | $8.93B | $17.73B | $17.06B | $16.92B | · | $16.99B | $16.52B | $16.44B | · | $16.26B | |
| Shares Outstanding | 172,728,004 | 172,635,624 | 172,620,476 | 172,620,476 | 172,611,853 | 172,494,263 | 172,465,608 | 172,465,608 | 110,303,446 | 110,302,667 | · | 110,086,035 | 109,611,599 | 109,572,075 | · | 109,470,325 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $75M | $75M | $72M | $74M | $76M | $77M | $73M | $73M | $73M | · | · | · | · | · | · | · | |
| Stock-based Comp | $3M | $1M | $504.0K | $-609.0K | $3M | $754.0K | $1M | $-912.0K | $1M | $842.0K | $-2M | $2M | $4M | $2M | $113.0K | $2M | |
| Deferred Tax | $54M | $-4M | $3M | $-9M | $-4M | $-316.0K | $12M | $-43M | $-442M | $2M | $15M | $-4M | $-233.0K | $-1M | $-12M | $-7M | |
| Other Non-cash | · | $-42M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-411M | $61M | $106M | $100M | $135M | $50M | $137M | $157M | $69M | $125M | $76M | $104M | $191M | $181M | $241M | $138M | |
| CapEx | $139M | $104M | $86M | $94M | $75M | $87M | $87M | $77M | $79M | $99M | $100M | $106M | $112M | $124M | $103M | $89M | |
| Investing Cash Flow | $-138M | $-102M | $-85M | $-85M | $-74M | $-78M | $282M | $-58M | $39M | $-6M | $112M | $-87M | $-145M | $-137M | $-334M | $-298M | |
| Debt Issued | · | · | $10M | $500M | $0 | $0 | $271.0K | $531.0K | $0 | $5M | $0 | $375M | $100M | $150M | $160M | $0 | |
| Net Debt Issued | · | $-5M | · | · | · | $-98M | · | · | · | $-4M | · | · | · | $96M | · | · | |
| Stock Issued | · | · | $0 | · | · | · | $-112.0K | · | · | · | $786.0K | · | · | · | $0 | · | |
| Dividends Paid | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $-39M | $34M | $39M | $39M | $-4M | $38M | |
| Financing Cash Flow | $-143M | $-8M | $-68M | $375M | $-536M | $-102M | $3M | $507M | $-44M | $-311M | $-176M | $346M | $-45M | $71M | $118M | $174M | |
| Net Change in Cash | $-693M | $-49M | $-46M | $390M | $-475M | $-131M | $422M | $606M | $64M | $-192M | $12M | $363M | $-162.0K | $115M | $26M | $14M | |
| Free Cash Flow | · | $-43M | · | · | · | $-37M | · | · | · | $25M | · | · | · | $57M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 21.7% | 7.1% | · | 6.6% | 7.2% | 8.4% | · | -13.5% | -191.6% | 8.5% | · | 8.3% | 10.4% | 10.1% | · | 9.8% | |
| Net Margin | · | 4.1% | · | · | · | 3.6% | · | -11.1% | -144.3% | 4.8% | · | 4.6% | 6.2% | 5.9% | · | 6.0% | |
| Pretax Margin | 17.5% | 5.2% | · | 5.1% | 5.4% | 4.5% | · | -15.9% | -194.2% | 6.0% | · | 5.5% | 7.7% | 7.6% | · | 7.7% | |
| EBITDA Margin | 29.8% | 17.3% | · | 15.9% | 17.4% | 8.4% | · | -13.5% | -191.6% | 8.5% | · | 8.3% | 10.4% | 10.1% | · | 9.8% | |
| ROA | · | 0.34% | · | · | · | 0.21% | · | -0.60% | -7.7% | 0.26% | · | 0.25% | 0.34% | 0.34% | · | 0.39% | |
| ROE | · | 1.9% | · | · | · | 1.4% | · | -5.5% | -77.7% | 1.8% | · | 1.9% | 2.5% | 2.4% | · | 2.8% | |
| ROIC | 8.7% | 2.4% | · | 2.4% | 2.1% | 2.6% | · | -5.6% | -117.7% | 2.5% | · | 2.9% | 3.3% | 3.3% | · | 3.7% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.3 | · | 1.3 | 1.1 | 1.2 | · | · | · | · | · | · | · | · | · | · | |
| Quick Ratio | 0.2 | 0.3 | · | 0.4 | 0.1 | 0.4 | · | · | · | · | · | · | · | · | · | · | |
| Debt / Equity | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.3 | · | · | · | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $10.21 | $9.48 | · | $9.06 | $8.89 | $8.73 | · | $9.14 | $9.84 | $21.55 | · | $20.21 | $20.52 | $20.42 | · | $19.76 | |
| Revenue / Share | $5.42 | $4.31 | · | $4.57 | $4.32 | $4.31 | · | $8.21 | $8.14 | $8.12 | · | $8.21 | $8.16 | $8.45 | · | $9.50 | |
| Cash Flow / Share | · | $0.35 | · | · | · | $0.29 | · | · | · | $1.13 | · | · | · | $1.65 | · | · | |
| Cash / Share | $1.38 | $2.62 | · | $3.18 | $0.89 | $3.65 | · | $6.72 | $4.99 | $4.40 | · | $6.06 | $2.87 | $2.88 | · | $1.60 | |
| Dividend / Share | · | · | · | · | · | · | · | · | · | · | $0.00 | $0.36 | $0.36 | $0.36 | · | · | |
| Dividend Paid / Share | · | · | · | · | · | · | · | · | · | · | · | $0.36 | $0.36 | $0.36 | · | $0.35 | |
| EPS (TTM) | $1.30 | $0.74 | · | $1.52 | $0.43 | $-11.46 | · | $-11.83 | $-10.55 | $1.69 | · | $1.89 | $2.09 | $2.07 | · | $2.18 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.28B | $3.09B | · | $3.08B | $3.12B | $3.17B | · | $2.98B | $2.95B | $2.95B | · | $3.13B | $3.37B | $3.47B | · | $3.49B | |
| Net Income TTM | $226M | $130M | · | $17M | $-118M | $-1.44B | · | $-1.31B | $-1.16B | $189M | · | $210M | $231M | $229M | · | $240M | |
| Market Cap | $2.34B | $2.56B | · | $1.91B | $1.83B | $1.89B | · | $1.67B | $995M | $1.24B | · | $1.36B | $3.97B | $4.21B | · | $3.79B | |
| Enterprise Value | $2.10B | $2.23B | · | $1.50B | $1.87B | $1.72B | · | · | · | · | · | · | · | · | · | · | |
| P/E | 10.4 | 20.1 | · | 7.3 | 24.7 | -1.0 | · | -0.8 | -0.9 | 6.7 | · | 6.5 | 17.3 | 18.6 | · | 15.9 | |
| P/S | 0.7 | 0.8 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.3 | 0.4 | · | 0.4 | 1.2 | 1.2 | · | 1.1 | |
| P/B | 1.3 | 1.6 | · | 1.2 | 1.2 | 1.3 | · | 1.1 | 0.9 | 0.5 | · | 0.6 | 1.8 | 1.9 | · | 1.8 | |
| P / Tangible Book | 1.3 | 1.6 | · | 1.2 | 1.2 | 1.3 | · | 1.1 | 0.9 | 0.5 | · | 0.6 | 1.8 | 2.0 | · | 1.8 | |
| P / Cash Flow | · | 42.0 | · | · | · | 38.0 | · | · | · | 10.0 | · | · | · | 23.3 | · | · | |
| EV / Revenue | 0.6 | 0.7 | · | 0.5 | 0.6 | 0.5 | · | · | · | · | · | · | · | · | · | · | |
| Dividend Yield | 0.00% | 0.00% | · | 0.00% | 0.00% | 0.00% | · | -2.3% | -0.50% | 2.8% | · | 8.1% | 2.9% | 2.7% | · | 4.0% | |
| Earnings Yield | 9.6% | 5.0% | · | 13.8% | 4.0% | -104.7% | · | -122.2% | -117.0% | 15.0% | · | 15.3% | 5.8% | 5.4% | · | 6.3% | |
| Payout Ratio | · | · | · | · | · | · | · | · | · | 0.00% | · | · | · | 71.5% | · | · | |
| Annual Payout | $0 | $0 | · | $0 | $0 | $0 | · | $-39M | $-5M | $35M | · | $109M | $114M | $112M | · | $152M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $3.09B | $3.22B | $3.29B | $3.42B | $2.85B |
| Operating Margin % | 7.6% | -53.0% | 9.6% | 10.2% | 13.5% |
| Net Income | $126M | $-1.42B | $201M | $243M | $248M |
| Diluted EPS | $0.71 | $-11.23 | $1.81 | $2.20 | $2.25 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | · | · | · |
| Current Ratio | 1.3 | · | · | · | · |
| Quick Ratio | 0.7 | · | · | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $50M | $143M | $103M | $110M | $61M |
Institutional owners (13F) 372 filers · $2.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 38 (-37 vs prior Q) | 36 (-2 vs prior Q) | 135 (+3 vs prior Q) | 103 (+15 vs prior Q) | +51K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $358,317,783 | 26,483,206 | 16.78% | Shares |
| HORIZON KINETICS ASSET MANAGEMENT LLC | $303,009,724 | 22,395,397 | 14.19% | Shares |
| VANGUARD GROUP INC | $238,746,997 | 19,410,325 | 11.18% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $140,359,976 | 10,373,982 | 6.57% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $101,191,655 | 7,479,058 | 4.74% | Shares |
| STATE STREET CORP | $97,163,151 | 7,181,312 | 4.55% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $58,670,598 | 4,335,526 | 2.75% | Shares |
| Quantinno Capital Management LP | $53,848,548 | 3,979,937 | 2.52% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $41,757,368 | 3,086,280 | 1.96% | Shares |
| Invesco Ltd. | $36,030,322 | 2,662,995 | 1.69% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $34,839,821 | 2,574,951 | 1.63% | Shares |
| MORGAN STANLEY | $33,839,038 | 2,501,036 | 1.59% | Shares |
| BANK OF AMERICA CORP /DE/ | $32,135,008 | 2,375,093 | 1.51% | Shares |
| NORTHERN TRUST CORP | $25,929,473 | 1,916,443 | 1.21% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $24,417,862 | 1,804,720 | 1.14% | Shares |
| GOLDMAN SACHS GROUP INC | $21,012,076 | 1,552,999 | 0.98% | Shares |
| UBS Group AG | $18,649,170 | 1,378,357 | 0.87% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $18,108,119 | 1,338,368 | 0.85% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $17,886,660 | 1,322,000 | 0.84% | Call option |
| MAD RIVER INVESTORS | $17,884,631 | 1,321,850 | 0.84% | Shares |
| JANE STREET GROUP, LLC | $15,386,316 | 1,137,200 | 0.72% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $15,331,005 | 1,133,112 | 0.72% | Shares |
| 12 West Capital Management LP | $15,221,250 | 1,125,000 | 0.71% | Shares |
| Bank of New York Mellon Corp | $14,761,430 | 1,091,015 | 0.69% | Shares |
| JPMORGAN CHASE & CO | $13,367,047 | 977,013 | 0.63% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,170,508 | 973,430 | 0.62% | Shares |
| CITADEL ADVISORS LLC | $11,673,846 | 862,812 | 0.55% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,580,460 | 782,000 | 0.50% | Put option |
| Nuveen, LLC | $9,865,901 | 729,187 | 0.46% | Shares |
| CITADEL ADVISORS LLC | $9,690,186 | 716,200 | 0.45% | Put option |
| WELLS FARGO & COMPANY/MN | $8,749,473 | 646,672 | 0.41% | Shares |
| Legal & General Group Plc | $8,619,910 | 637,096 | 0.40% | Shares |
| Public Sector Pension Investment Board | $8,024,711 | 593,105 | 0.38% | Shares |
| Moors & Cabot, Inc. | $7,824,818 | 578,331 | 0.37% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $7,380,290 | 545,476 | 0.35% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $7,200,666 | 532,200 | 0.34% | Shares |
| SEI INVESTMENTS CO | $6,982,564 | 516,080 | 0.33% | Shares |
| PDT Partners, LLC | $6,927,022 | 511,975 | 0.32% | Shares |
| Foundry Partners, LLC | $6,904,950 | 630,589 | 0.32% | Shares |
| AMERICAN CENTURY COMPANIES INC | $6,682,913 | 493,933 | 0.31% | Shares |
| Corient Private Wealth LP | $6,632,803 | 490,229 | 0.31% | Shares |
| ALLIANCEBERNSTEIN L.P. | $6,007,648 | 404,828 | 0.28% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $5,942,559 | 400,442 | 0.28% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $5,931,552 | 438,400 | 0.28% | Shares |
| EagleClaw Capital Managment, LLC | $5,882,168 | 434,750 | 0.28% | Shares |
| CITIGROUP INC | $5,876,675 | 434,344 | 0.28% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $5,857,908 | 432,957 | 0.27% | Shares |
| STIFEL FINANCIAL CORP | $5,856,759 | 432,871 | 0.27% | Shares |
| PRUDENTIAL FINANCIAL INC | $5,761,561 | 425,836 | 0.27% | Shares |
| RHUMBLINE ADVISERS | $5,707,661 | 421,854 | 0.27% | Shares |
Company insiders 49 insiders · 21 officers · 29 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Scott W.H. Seu | President & CEO | Feb. 20, 2026 F | 52,043 | 0 | 0 | $0 |
| Shelee M.T. Kimura | Pres & CEO, Hawn Electric Co. | Feb. 20, 2026 F | 26,921 | 0 | 0 | $0 |
| Ann Teranishi | Pres & CEO, Amer Savings Bank | May 24, 2024 F | 30,980 | 0 | 0 | $0 |
| Constance H Lau | President & CEO | Dec. 15, 2021 S | 21,825 | 0 | 0 | $0 |
| Richard F Wacker | Pres & CEO, Amer Savings Bank | Feb. 19, 2021 G | 88,779 | 0 | 0 | $0 |
| Richard M Rosenblum | Pres & CEO, Hawn Electric Comp | May 14, 2014 F | 70,971 | 0 | 0 | $0 |
| Robert F Clarke | Chairman, President & CEO | Feb. 13, 2006 J | 84,230 | 0 | 0 | $0 |
| Paul K Ito | EVP, CFO & Treasurer | Feb. 17, 2023 F | 11,643 | 0 | 0 | $0 |
| Gregory C Hazelton | EVP & CFO | May 19, 2022 S | 14,576 | 0 | 0 | $0 |
| Timothy K Schools | President, Amer Savings Bank | Sept. 10, 2010 D | 0 | 0 | 0 | $0 |
| Michael T May | President, Hawn Elec Company | June 4, 2008 S | 57,867 | 0 | 0 | $0 |
| Eric K Yeaman | Sr Exe VP, COO, Hawn Elec Co | June 13, 2008 D | 0 | 0 | 0 | $0 |
| Kurt K. Murao | EVP, GC & Chief Admin Officer | Feb. 20, 2026 F | 37,867 | 0 | 0 | $0 |
| Alan M. Oshima | SR Exec Advisor, Hawn Electric | March 3, 2020 G | 78,057 | 0 | 0 | $0 |
| Chester A Richardson | EVP GC & Chief Admin Officer | Aug. 25, 2016 S | 44,516 | 0 | 0 | $0 |
| David M Kostecki | VP - Controller & CAO | Feb. 21, 2013 F | 16,119 | 0 | 0 | $0 |
| Curtis Y Harada | VP Controller & Chief Accting | March 2, 2009 A | 7,197 | 0 | 0 | $0 |
| Patricia U Wong | VP- Admin, Corp Sec | April 15, 2008 J | 11,901 | 0 | 0 | $0 |
| Andrew I T Chang | Vice President | April 12, 2007 J | 4,000 | 0 | 0 | $0 |
| Charles F Wall | Vice President | Feb. 13, 2006 J | 9,234 | 0 | 0 | $0 |
| Peter C Lewis | VP-Admin. & Corp. Secr. | Feb. 9, 2005 J | 2,031 | 0 | 0 | $0 |
| John C Aquilino | Director | June 30, 2026 A | 17,861 | 0 | 0 | $0 |
| Elisia Flores | Director | June 30, 2026 A | 33,996 | 0 | 0 | $0 |
| Toby B. Taniguchi | Director | June 30, 2026 A | 25,733 | 0 | 0 | $0 |
| Celeste Anne Connors | Director | June 30, 2026 A | 34,678 | 0 | 0 | $0 |
| Micah A. Kane | Director | June 30, 2026 A | 41,515 | 0 | 0 | $0 |
| Mary E Kipp | Director | June 30, 2026 A | 23,355 | 0 | 0 | $0 |
| Timothy E Johns | Director | June 30, 2026 A | 9,253 | 0 | 0 | $0 |
| James A Ajello | Director | June 30, 2026 A | 9,238 | 0 | 0 | $0 |
| Peggy Y Fowler | Director | June 30, 2026 A | 9,238 | 0 | 0 | $0 |
| James W Scilacci | Director | June 30, 2026 A | 35,723 | 0 | 0 | $0 |
| Thomas B Fargo | Director | June 30, 2025 A | 11,759 | 0 | 0 | $0 |
| Yoko Otani | Director | June 30, 2023 A | 4,288 | 0 | 0 | $0 |
| Michael J. Kennedy | Director | June 30, 2023 A | 12,303 | 0 | 0 | $0 |
| Richard J Dahl | Director | June 30, 2023 A | 3,314 | 0 | 0 | $0 |
| Keith P Russell | Director | March 8, 2023 S | 23,447 | 0 | 0 | $0 |
| Mary Powell | Director | June 30, 2021 A | 7,570 | 0 | 0 | $0 |
| Jeffrey N Watanabe | Director | Aug. 14, 2019 S | 20,227 | 0 | 0 | $0 |
| Barry K Taniguchi | Director | June 28, 2019 A | 43,036 | 0 | 0 | $0 |
| James K Scott | Director | June 28, 2019 G | 55,964 | 0 | 0 | $0 |
| Kelvin H Taketa | Director | June 29, 2018 G | 40,402 | 0 | 0 | $0 |
| Maurice A Myers | Director | Sept. 30, 2016 G | 10,530 | 0 | 0 | $0 |
| Richard W Gushman II | Director | June 30, 2010 A | 15,576 | 0 | 0 | $0 |
| Shirley J Daniel | Director | June 30, 2010 A | 16,535 | 0 | 0 | $0 |
| Don E Carroll | Director | June 30, 2010 A | 26,130 | 0 | 0 | $0 |
| Diane J Plotts | Director | June 30, 2009 J | 18,680 | 0 | 0 | $0 |
| Bill D Mills | Director | June 30, 2008 J | 3,483 | 0 | 0 | $0 |
| Victor H Li | · | Sept. 7, 2011 S | 1,351 | 0 | 0 | $0 |
| Oswald K Stender | · | Aug. 27, 2003 S | 1,398 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 48 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSCU · Invesco Exchange-Traded Fund Trust … | 1.54% | 30,125 SH | Oct. 23, 2026 | Daily |
| XSVM · Invesco Exchange-Traded Fund Trust | 0.53% | 358,362 SH | Oct. 23, 2026 | Daily |
| BRNY · EA Series Trust | 0.48% | 215,712 NS | July 31, 2026 | N-PORT |
| BRES · EA Series Trust | 0.48% | 250,254 NS | July 31, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.47% | 70,658 NS | July 31, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.27% | 31,305 NS | Aug. 31, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.25% | 366,321 SH | Aug. 19, 2026 | Daily |
| HAPS · Harbor ETF Trust | 0.25% | 32,844 NS | July 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.25% | 112,926 NS | July 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.24% | 257,897 NS | July 31, 2026 | N-PORT |
| RZV · Invesco Exchange-Traded Fund Trust | 0.24% | 77,408 SH | Oct. 23, 2026 | Daily |
| ZAP · Global X Funds | 0.23% | 82,133 NS | July 31, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.18% | 406,381 SH | Oct. 23, 2026 | Daily |
| VPU · VANGUARD WORLD FUND | 0.15% | 1,181,752 SH | Aug. 19, 2026 | Daily |
| FUTY · FIDELITY COVINGTON TRUST | 0.15% | 261,558 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.14% | 144,400 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.13% | 603,674 SH | Aug. 19, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.11% | 28,687 SH | Oct. 23, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.09% | 12,220 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 46,961 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 956,822 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.07% | 79,538 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.06% | 4,237,099 SH | Sept. 11, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.05% | 2,383,031 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.04% | 485,754 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 1,981,550 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.03% | 3,751,213 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 10,402 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.01% | 25,880 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 15,168 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.01% | 82,221 SH | Oct. 22, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 1,651 SH | Oct. 22, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 162,073 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 40,470 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 51,783 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 239,437 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 45,167 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,202,250 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 126,298 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 13,883 SH | Aug. 19, 2026 | Daily |
| IJR · iShares Trust | · | 10,545,334 SH | Sept. 10, 2026 | Daily |
| IJS · iShares Trust | · | 1,539,890 SH | Sept. 8, 2026 | Daily |
| IWN · iShares Trust | · | 1,557,981 SH | Sept. 11, 2026 | Daily |
| IFRA · iShares Trust | · | 209,845 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 23,832 SH | Aug. 31, 2026 | Daily |
| SVAL · iShares Trust | · | 40,417 SH | Sept. 3, 2026 | Daily |
| ISCB · iShares Trust | · | 7,649 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 38,051 SH | Sept. 11, 2026 | Daily |
HE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
4 analysts · 2026-10-20Mean target $8.62 +2.6%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HE | $2.12B | 17.3 | -4.1% | 4.1% | 8.0% | · |
| POR | $5.55B | 17.3 | 4.0% | 8.6% | 7.7% | · |
| OKLO | $11.52B | -99.7 | · | · | -9.7% | · |
| OTTR | $3.39B | 12.3 | -2.3% | 21.2% | 15.2% | · |
| MGEE | $2.87B | 21.1 | · | -402.1% | 10.6% | · |
| GNE | · | 15.3 | 18.1% | 4.8% | 9.7% | 24.8% |
| ENO | · | · | · | · | · | · |
| NEE | $167.22B | 24.3 | 9.8% | 26.5% | 13.1% | · |
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