Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Hawaiian Electric IndustriesFRA:HWI -2.40%65 Debt-to-Equity is 1.80 as of Mar. 2026, which is 62% above its 10-year median of 1.11. GuruFocus rates FRA:HWI with a GF Score™ of 65/100 and a GF Value™ of €6.97 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 472 Utilities - Regulated companies, Hawaiian Electric Industries ranks worse than 79.66% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Hawaiian Electric Industries's Debt-to-Equity or its related term are showing as below:
FRA:HWI'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.85 Med: 1.11 Max: 3.48
Current: 1.8
During the past 13 years, the highest Debt-to-Equity Ratio of Hawaiian Electric Industries was 3.48. The lowest was 0.85. And the median was 1.11.
FRA:HWI's Debt-to-Equity is ranked worse than 79.66% of 472
companies
in the Utilities - Regulated industry
Industry Median: 0.975
vs FRA:HWI: 1.80
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Hawaiian Electric Industries Debt-to-Equity Related Terms
Hawaiian Electric Industries Debt-to-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:HWI vs MGEE, NKLR, IMSR: Debt-to-Equity Comparison
For the Utilities - Regulated Electric subindustry, Hawaiian Electric Industries's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hawaiian Electric Industries Debt-to-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hawaiian Electric Industries's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Hawaiian Electric Industries's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Hawaiian Electric Industries (FRA:HWI) has a Debt-to-Equity of 1.80 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Hawaiian Electric Industries and its competitors. This is 62% above median its historical median of 1.11. Over the past decade, Hawaiian Electric Industries' Debt-to-Equity has ranged from 0.85 to 3.48. According to the industry distribution chart, Hawaiian Electric Industries ranks #376 out of 472 companies in the Utilities - Regulated industry, placing it in the top 79.7%.
Is Hawaiian Electric Industries' Debt-to-Equity too high?
Hawaiian Electric Industries' current Debt-to-Equity of 1.80 is 62% above median its 10-year median of 1.11. Over the past 10 years, this metric has ranged from a low of 0.85 to a high of 3.48. The Utilities - Regulated industry median Debt-to-Equity is 0.98. Hawaiian Electric Industries' value of 1.80 is 84.6% above this industry median. Based on the distribution chart, Hawaiian Electric Industries ranks #376 out of 472 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Hawaiian Electric Industries has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hawaiian Electric Industries' Debt-to-Equity compare to MGEE and NKLR?
According to the Utilities - Regulated industry distribution chart, Hawaiian Electric Industries ranks #376 out of 472 companies for Debt-to-Equity. This places Hawaiian Electric Industries in the lower half of its industry. The industry median Debt-to-Equity is 0.98. Hawaiian Electric Industries' value of 1.80 is 84.6% above this benchmark. Historically, Hawaiian Electric Industries' own Debt-to-Equity has ranged from 0.85 to 3.48 over the past decade. While the company's 10-year median is 1.11 vs. the industry median of 0.98, Hawaiian Electric Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Utilities - Regulated company?
The median Debt-to-Equity among Utilities - Regulated companies is 0.98, based on 472 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hawaiian Electric Industries's current Debt-to-Equity of 1.80 is 84.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Hawaiian Electric Industries and its competitors. For the Utilities - Regulated industry, the median Debt-to-Equity is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hawaiian Electric Industries's current Debt-to-Equity is 1.80, which is 62% above median its own 10-year median of 1.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hawaiian Electric Industries stock overvalued right now?
Based on GuruFocus' analysis, Hawaiian Electric Industries (FRA:HWI) is currently considered Significantly Overvalued. The stock's GF Value™ is €6.97, compared to a current price of €11.16 — trading 60.1% above its estimated fair value. The current Debt-to-Equity is 1.80, which is 62% above median its 10-year median of 1.11 and 84.6% above the Utilities - Regulated industry median of 0.98. Hawaiian Electric Industries' overall GF Score™ is 65/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Hawaiian Electric Industries (FRA:HWI), the current Debt-to-Equity is 1.80 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hawaiian Electric Industries (FRA:HWI) Overvalued in 2026?
Based on GuruFocus' analysis, Hawaiian Electric Industries stock appears to be overvalued.
The current stock price of €11.16 is trading 60.1% above its estimated GF Value™ of €6.97.
GuruFocus considers Hawaiian Electric Industries to be Significantly Overvalued.
Key valuation signals for FRA:HWI:
Debt-to-Equity: 1.80 (62% above median its 10-year median of 1.11)
GF Value™: €6.97 vs. price of €11.16 (60.1% above fair value)
Industry Position: 84.6% above the Utilities - Regulated median (#376 of 472)
No single metric tells the full story. See the FRA:HWI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hawaiian Electric Industries is the parent company of three Hawaii-based regulated utilities and owns a 10% minority interest in Hawaii's American Savings Bank. The utilities provide electricity on the five islands of Oahu, Hawaii, Maui, Molokai, and Lanai.
65GF Score
Get the complete analysis for FRA:HWI
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:HWI has been successfully added to your 
