HEHawaiian Electric Industries, Inc.
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain. Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -83% · now 49% below its 52-week high.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can HE take a bad year?
Hawaiian Electric Industries, Inc. carries $2.03B of net debt at 3.09× EBITDA: a load its earnings can carry.
Net debt · as at Q2 2026 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 3.09×
Net debt / EBITDA · 5.86× a year ago · the load is coming down
- Altman Z-score
- 0.58
Altman Z-score · distress zone, below 1.8
- Cash runway
- 0.4 years
Cash runway · burning $141M a quarter at the current rate
Details›
- Total debtQ2 2026
- $2.27B
- Cash and short-term investments
- $239M
- Net debt
- $2.03B
- EBITDA, trailing twelve months
- $657M
- Operating profit, trailing twelve months
- $377M
- Debt / equity
- 1.28×
- Total debt / EBITDA
- 3.45×
- Annualised volatilitytwo years of daily moves
- 36%
- Worst drawdown on file
- −83%
- Below its 52-week high
- 49%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Utilities, Regulated Electric
Ranks #9 of 15 by RyuScore