Hawaiian Electric Industries, Inc. (HE) Fair Value 2026

HE · Utilities - Regulated Electric ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

6.9 /10

32 fundamental signals · 8 models active

Value Trap Risk

SAFE (0/100)

Quick Summary — As of 2026-08-28, Hawaiian Electric Industries, Inc. (HE) trades at $11.40, versus a $16.23 median fair value across its 8 active models — 42.4% above the current price. QOC: 6.9/10. Value Trap Risk: 0/100 (SAFE). 8/13 models active. Within that set, the Bayesian DCF component alone returns $2.06.

Key Facts

Ticker
HE
Price
$11.40
Quality Score
6.9/10
Value Trap Risk
0/100
Models Active
8/13
Last Updated
Strength: CUCE Ensemble suggests +20.2% upside with 13% confidence
Risk: Limited model coverage (8/13) may reduce confidence

Is Hawaiian Electric Industries, Inc. (HE) Undervalued or Overvalued in 2026?

According to CirclFi’s 8-model valuation engine, Hawaiian Electric Industries, Inc. (HE) appears undervalued as of : the median of 8 independent fair value estimates is $16.23, 42.4% above the current price of $11.40. Estimates range from $2.06 to $35.45. HE scores 6.9/10 on fundamental quality and 0/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.4% versus its own 13-model consensus, across 3,809 rated companies as of 2026-08-28. HE’s +42.4% gap is wider than that market norm, and the Utilities - Regulated Electric sector median is -25.4%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Hawaiian Electric Industries, Inc. Stock in 2026? →

What Fair Value Does Each Model Give HE?

8 Intrinsic Value Models vs. Current Price ($11.40)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · High Conviction
 $2.06 -82.0%
Ensemble · Low Conviction
 $13.70 +20.2%
Intrinsic · High Conviction
 $5.43 -52.4%
Intrinsic · High Conviction
 $13.17 +15.5%
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What Is HE's Fair Value Range?

Spread across 8 independent models · $2.06 to $35.45

CirclFi's 8 active models place Hawaiian Electric Industries, Inc. (HE) between $2.06 and $35.45 per share, a spread of 206% of the median. The median of that range — $16.23 — is the fair value CirclFi publishes for HE, against a current price of $11.40.

Low · Bayesian DCFHigh · PWERM
$2.06median $16.23$35.45
Where the range comes from
Most bearish modelBayesian DCF$2.06
Most bullish modelPWERM$35.45
Model agreement6 bullish · 2 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for HE. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on HE, not a CirclFi price target. How each model works →

What Is Hawaiian Electric Industries, Inc. (HE) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, the weight of evidence tilts decidedly bullish for Hawaiian Electric Industries, Inc.. Trading at $11.40 against an estimated intrinsic value of $16.23, 6 of 8 active models flag meaningful upside of +42.4% at the median. The most optimistic model, PWERM, places fair value at $35.45 (+211.0%), while Bayesian DCF — the most conservative — estimates $2.06 (-82.0%). This +293.0% gap reflects genuine analytical uncertainty about Hawaiian Electric Industries, Inc.'s intrinsic worth.

What Do the Models Say About HE?

8 of 13 models are currently active for HE. Of these, 6 models suggest upside while 2 models suggest overvaluation. Taken together, their median fair value for HE is $16.23 — the figure CirclFi publishes as this stock's fair value. One component of that median, the Bayesian DCF, returns $2.06 on its own, implying -82.0% downside from the current price. See which stocks rank higher →

How Does HE Rank in Utilities - Regulated Electric?

Among 40 Utilities - Regulated Electric stocks, HE ranks #31 by Quality of Company score. CirclFi's QOC score of 6.9/10 evaluates 32 fundamental signals. A score of 6.9 indicates above-average quality.

Within the Utilities - Regulated Electric space, Hawaiian Electric Industries, Inc. competes in an environment where payout ratio often separates market leaders from laggards. Understanding these industry-specific dynamics is essential context for interpreting our model outputs.

Is HE a Value Trap?

CirclFi's Value Trap algorithm assigns HE a score of 0/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

8 of 13 models are active for Hawaiian Electric Industries, Inc.. Moderate coverage provides meaningful perspective. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Quality of Company (QOC) framework, which evaluates 32 signals including margin stability, revenue growth trajectory, leverage, and free cash flow generation, Hawaiian Electric Industries, Inc. is rated at 6.9/10. This solid-tier score maintains reasonable quality metrics with some areas for improvement.

The gap between the most bullish and bearish model spans +293.0% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every HE valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across HE's 8 active models, average confidence is 43%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Hawaiian Electric Industries, Inc. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Utilities - Regulated Electric Stocks Should You Also Analyze?

10 related Utilities - Regulated Electric stocks with 13-model coverage

XELXcel Energy Inc.QOC 6.9DDominion Energy, Inc.QOC 6.8KEPKorea Electric Power CorporationQOC 7.0EMAEmera IncorporatedQOC 6.8WECWEC Energy Group, Inc.QOC 7.0SOThe Southern CompanyQOC 6.7CIGCompanhia Energética de Minas Gerais - CEMIGQOC 8.5ELPCCompanhia Paranaense de EnergiaQOC 7.5FTSFortis Inc.QOC 7.2GNEGenie Energy Ltd.QOC 8.4

Read investment analysis: XEL · D · KEP · EMA · WEC · SO · CIG · ELPC · FTS · GNE

Which Other Stocks Have a Similar Quality Score to HE?

7 companies across all industries closest to HE’s Quality of Company score of 6.9/10.

AWREAware, Inc.QOC 6.9GRFSGrifols, S.A.QOC 6.9AMRAlpha Metallurgical Resources, Inc.QOC 6.9GMABGenmab A/SQOC 6.9NTGRNETGEAR, Inc.QOC 6.9AGCCAgencia Comercial Spirits LtdQOC 6.9NVDANVIDIA CorporationQOC 10.0

Read investment analysis: AWRE · GRFS · AMR · GMAB · NTGR · AGCC · NVDA

What Else Do Investors Ask About Hawaiian Electric Industries, Inc.’s Valuation?

What is Hawaiian Electric Industries, Inc.'s intrinsic value in 2026?

CirclFi puts Hawaiian Electric Industries, Inc. (HE)'s intrinsic value at $16.23 — the median of 8 independent model estimates as of 2026-08-28, ranging from $2.06 to $35.45. One component of that median, the Bayesian DCF, runs 10,000 Monte Carlo simulations with jump-diffusion and returns $2.06 on its own. The Quality of Company score is 6.9/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is HE overvalued or undervalued right now?

At $11.40, 6 of 8 active models suggest HE may be undervalued, while 2 indicate potential overvaluation. The median of all 8 fair value estimates is $16.23, 42.4% above the current price of $11.40 — a consensus view that HE is undervalued. The assessment depends on which methodology best fits Hawaiian Electric Industries, Inc.'s business model in Utilities - Regulated Electric.

What does a Quality of Company score of 6.9 mean for HE?

Hawaiian Electric Industries, Inc.'s QOC of 6.9/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores between 5-7 reflect moderate fundamentals with areas for improvement.

How many valuation models does CirclFi run on HE?

CirclFi analyzes HE with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 8 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on HE?

Of the 8 models currently active on HE, PWERM is the most bullish at $35.45 per share, and Bayesian DCF is the most bearish at $2.06. CirclFi's published fair value for HE is the median of that range, $16.23, not either extreme. The gap between the two ends equals 206% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is HE a value trap in 2026?

Hawaiian Electric Industries, Inc.'s Value Trap score is 0/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 8-model valuation engine, Hawaiian Electric Industries, Inc. (HE) has a median fair value of $16.23 — 42.4% above the current price of $11.40 — as of 2026-08-28.” Source: circlfi.com/stock/HE/ · Methodology
Primary sources for this HE valuation
  • Financial statements: Hawaiian Electric Industries, Inc. 10-K and 10-Q filings on SEC EDGAR (CIK 0000354707) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for HE as of ; valuations recomputed .

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