Hawaiian Electric Industries Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Hawaiian Electric Industries Inc (HE). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Electric utility | $2.27B 87.8% | $2.54B 89.1% · +12.1% | $3.41B 100.0% · +34.2% | $3.27B 99.5% · -4.1% | $3.21B 99.6% · -1.9% | $3.07B 99.5% · -4.2% |
| Other | $944.0K 0.0% | $4.3M 0.2% · +360.3% | – | $18.0M 0.5% | $13.2M 0.4% · -26.9% | $15.7M 0.5% · +19.5% |
| Bank | $313.5M 12.2% | $306.4M 10.7% · -2.3% | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Electric utility | $268.6M 11.9% | $279.6M 11.0% | $299.2M 8.8% | $302.2M 9.2% | -$1.61B -50.3% | $279.8M 9.1% |
| Other | -$18.9M -1,998.5% | -$21.7M -499.3% | – | -$27.2M -151.1% | -$94.9M -721.7% | -$44.5M -283.0% |
| Bank | $61.8M 19.7% | $128.2M 41.8% | – | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by product line
| Segment | 2023 | 2024 | 2025 |
|---|---|---|---|
| Electric energy sales - large light and power | $1.14B 35.1% | $1.12B 35.3% · -1.5% | $1.08B 35.1% · -3.9% |
| Electric energy sales - residential | $1.03B 31.6% | $1.01B 31.8% · -1.3% | $992.4M 32.3% · -2.0% |
| Electric energy sales - commercial | $1.04B 32.1% | $1.01B 31.9% · -3.0% | $971.8M 31.6% · -4.1% |
| Electric energy sales - other | $19.5M 0.6% | $18.7M 0.6% · -4.1% | $18.0M 0.6% · -3.8% |
| Other sales | $17.5M 0.5% | $11.9M 0.4% · -32.0% | $13.7M 0.4% · +14.6% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.