Hawaiian Electric Industries annual debt-to-equity ratio
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2025
Hawaiian Electric Industries Debt-to-Equity Ratio Growth & History (HE)
Hawaiian Electric Industries's debt-to-equity ratio was 1.78 for fiscal 2025.
View full Hawaiian Electric Industries company overviewHawaiian Electric Industries annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.78 | −0.41 | −18.85% |
| 2024 | 2024-12-31 | 2.19 | 0.79 | +56.97% |
| 2023 | 2023-12-31 | 1.39 | 0.23 | +19.93% |
| 2022 | 2022-12-31 | 1.16 | 0.13 | +13.04% |
| 2021 | 2021-12-31 | 1.03 | 0.05 | +5.45% |
| 2020 | 2020-12-31 | 0.98 | 0.03 | +2.76% |
| 2019 | 2019-12-31 | 0.95 | 0.08 | +9.17% |
| 2018 | 2018-12-31 | 0.87 | 0.07 | +8.28% |
| 2017 | 2017-12-31 | 0.80 | 0.02 | +2.48% |
| 2016 | 2016-12-31 | 0.78 | −0.04 | −4.33% |
| 2015 | 2015-12-31 | 0.82 | −0.02 | −2.68% |
| 2014 | 2014-12-31 | 0.84 | −0.02 | −2.71% |
| 2013 | 2013-12-31 | 0.86 | −0.03 | −3.18% |
| 2012 | 2012-12-31 | 0.89 | 0.02 | +1.89% |
| 2011 | 2011-12-31 | 0.88 | −0.05 | −4.92% |
| 2010 | 2010-12-31 | 0.92 | −0.03 | −2.83% |
| 2009 | 2009-12-31 | 0.95 | — | — |
Hawaiian Electric Industries quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.59 | 0.01 | +0.51% |
| Q1 2026 | 2026-03-31 | 1.72 | −0.12 | −6.39% |
| Q4 2025 | 2025-12-31 | 1.78 | −0.41 | −18.85% |
| Q3 2025 | 2025-09-30 | 1.82 | −0.31 | −14.68% |
| Q2 2025 | 2025-06-30 | 1.58 | −1.53 | −49.19% |
| Q1 2025 | 2025-03-31 | 1.84 | 0.46 | +33.11% |
| Q4 2024 | 2024-12-31 | 2.19 | 0.79 | +56.97% |
| Q3 2024 | 2024-09-30 | 2.14 | 0.71 | +49.65% |
| Q2 2024 | 2024-06-30 | 3.11 | 1.86 | +148.98% |
| Q1 2024 | 2024-03-31 | 1.38 | 0.18 | +15.04% |
| Q4 2023 | 2023-12-31 | 1.39 | 0.23 | +19.93% |
| Q3 2023 | 2023-09-30 | 1.43 | 0.22 | +18.29% |
| Q2 2023 | 2023-06-30 | 1.25 | 0.13 | +11.14% |
| Q1 2023 | 2023-03-31 | 1.20 | 0.13 | +12.21% |
| Q4 2022 | 2022-12-31 | 1.16 | 0.13 | +13.04% |
| Q3 2022 | 2022-09-30 | 1.21 | 0.20 | +19.84% |
| Q2 2022 | 2022-06-30 | 1.12 | 0.10 | +9.70% |
| Q1 2022 | 2022-03-31 | 1.07 | 0.04 | +3.40% |
| Q4 2021 | 2021-12-31 | 1.03 | 0.05 | +5.45% |
| Q3 2021 | 2021-09-30 | 1.01 | 0.04 | +4.21% |
| Q2 2021 | 2021-06-30 | 1.02 | 0.04 | +3.84% |
| Q1 2021 | 2021-03-31 | 1.04 | 0.04 | +3.69% |
| Q4 2020 | 2020-12-31 | 0.98 | 0.03 | +2.76% |
| Q3 2020 | 2020-09-30 | 0.97 | 0.03 | +3.27% |
| Q2 2020 | 2020-06-30 | 0.99 | 0.03 | +3.30% |
| Q1 2020 | 2020-03-31 | 1.00 | 0.03 | +2.83% |
| Q4 2019 | 2019-12-31 | 0.95 | 0.08 | +9.17% |
| Q3 2019 | 2019-09-30 | 0.94 | 0.10 | +11.94% |
| Q2 2019 | 2019-06-30 | 0.96 | 0.11 | +12.68% |
| Q1 2019 | 2019-03-31 | 0.97 | 0.17 | +20.70% |
| Q4 2018 | 2018-12-31 | 0.87 | 0.07 | +8.28% |
| Q3 2018 | 2018-09-30 | 0.84 | 0.07 | +8.62% |
| Q2 2018 | 2018-06-30 | 0.85 | 0.07 | +8.69% |
| Q1 2018 | 2018-03-31 | 0.81 | 0.02 | +2.73% |
| Q4 2017 | 2017-12-31 | 0.80 | 0.02 | +2.48% |
| Q3 2017 | 2017-09-30 | 0.77 | 0.01 | +0.81% |
| Q2 2017 | 2017-06-30 | 0.78 | −0.02 | −2.86% |
| Q1 2017 | 2017-03-31 | 0.78 | −0.03 | −3.59% |
| Q4 2016 | 2016-12-31 | 0.78 | −0.04 | −4.33% |
| Q3 2016 | 2016-09-30 | 0.76 | −0.02 | −2.66% |
| Q2 2016 | 2016-06-30 | 0.80 | 0.01 | +1.19% |
| Q1 2016 | 2016-03-31 | 0.81 | 0.02 | +2.40% |
| Q4 2015 | 2015-12-31 | 0.82 | −0.02 | −2.68% |
| Q3 2015 | 2015-09-30 | 0.78 | −0.06 | −6.98% |
| Q2 2015 | 2015-06-30 | 0.79 | −0.07 | −8.00% |
| Q1 2015 | 2015-03-31 | 0.79 | −0.06 | −7.21% |
| Q4 2014 | 2014-12-31 | 0.84 | −0.02 | −2.71% |
| Q3 2014 | 2014-09-30 | 0.84 | −0.02 | −1.91% |
| Q2 2014 | 2014-06-30 | 0.86 | −0.01 | −1.52% |
| Q1 2014 | 2014-03-31 | 0.86 | −0.03 | −3.36% |
| Q4 2013 | 2013-12-31 | 0.86 | −0.03 | −3.18% |
| Q3 2013 | 2013-09-30 | 0.86 | −0.03 | −3.39% |
| Q2 2013 | 2013-06-30 | 0.88 | −0.03 | −3.47% |
| Q1 2013 | 2013-03-31 | 0.89 | 0.06 | +7.04% |
| Q4 2012 | 2012-12-31 | 0.89 | 0.02 | +1.89% |
| Q3 2012 | 2012-09-30 | 0.89 | 0.02 | +1.88% |
| Q2 2012 | 2012-06-30 | 0.91 | −0.05 | −4.93% |
| Q1 2012 | 2012-03-31 | 0.83 | −0.14 | −14.05% |
| Q4 2011 | 2011-12-31 | 0.88 | −0.05 | −4.92% |
| Q3 2011 | 2011-09-30 | 0.87 | −0.05 | −5.33% |
| Q2 2011 | 2011-06-30 | 0.95 | 0.02 | +2.54% |
| Q1 2011 | 2011-03-31 | 0.96 | — | — |
| Q4 2010 | 2010-12-31 | 0.92 | −0.02 | −2.61% |
| Q3 2010 | 2010-09-30 | 0.92 | — | — |
| Q2 2010 | 2010-06-30 | 0.93 | — | — |
| Q4 2009 | 2009-12-31 | 0.95 | — | — |
Hawaiian Electric Industries debt-to-equity ratio trends
Over the last five fiscal years, Hawaiian Electric Industries's debt-to-equity ratio increased from 0.98 to 1.78, a change of 0.80. The latest reported quarter, Q2 2026, shows 1.59.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Hawaiian Electric Industries source filings ↗