Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.38B | $2.56B | $2.86B | $2.87B | $2.58B | $2.85B | $3.42B | $3.29B | $3.22B | $3.09B |
| Revenue growth | — | 7.3% | 11.9% | 0.5% | -10.2% | 10.5% | 20.0% | -3.9% | -2.1% | -4.1% |
| Operating income | $356M | $346M | $333M | $348M | $311M | $386M | $280M | $275M | -$1.71B | $235M |
| Operating margin | 14.9% | 13.5% | 11.7% | 12.1% | 12.1% | 13.5% | 8.2% | 8.4% | -53.0% | 7.6% |
| Net income | $250M | $167M | $204M | $220M | $200M | $248M | $243M | $201M | -$1.42B | $126M |
| Net margin | 10.5% | 6.5% | 7.1% | 7.6% | 7.7% | 8.7% | 7.1% | 6.1% | -44.2% | 4.1% |
| EPS (diluted) | $2.29 | $1.52 | $1.85 | $1.99 | $1.81 | $2.25 | $2.20 | $1.81 | -$11.23 | $0.71 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $496M | $420M | $499M | $512M | $429M | $376M | $454M | $551M | $487M | $391M |
| Capital expenditures | $330M | $495M | $537M | $458M | $384M | $315M | $339M | $443M | $344M | $341M |
| Free cash flow | $166M | -$74.7M | -$38.1M | $55.0M | $45.5M | $61.1M | $115M | $109M | $143M | $49.9M |
| Dividends paid | $117M | $135M | $135M | $139M | $144M | $149M | $111M | $74.0M | $0.00 | $0.00 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $278M | $262M | $169M | $197M | $341M | $306M | $43.7M | $244M | $751M | $502M |
| Total assets | $11.9B | $12.5B | $13.1B | $13.7B | $15.0B | $15.8B | $16.3B | $7.68B | $8.93B | $8.92B |
| Total liabilities | $10.3B | $10.4B | $10.9B | $11.4B | $12.6B | $13.4B | $14.0B | $14.9B | $7.42B | $7.32B |
| Long-term debt | $1.62B | $1.68B | $1.88B | $1.96B | $2.12B | $2.32B | $2.38B | $2.83B | $2.69B | $2.29B |
| Shareholders' equity | $2.07B | $2.10B | $2.16B | $2.28B | $2.34B | $2.39B | $2.20B | $2.34B | $1.48B | $1.61B |
| Retained earnings | $439M | $477M | $544M | $622M | $660M | $758M | $846M | $927M | -$789M | -$666M |
| Shares (wtd avg diluted) | 108M | 109M | 109M | 109M | 109M | 110M | 110M | 110M | 127M | 173M |
Every figure is extracted from HAWAIIAN ELECTRIC INDUSTRIES INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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