$13.67

-0.02 (-0.15%)

After Hours: $13.85 (+0.18, +1.32%)

Weekly Expected Move ±4.6%

$12 $13 $13 $14 $14

NYSE · Utilities · Diversified Utilities · Alpha Radar Strong Sell · Power 32 · $2.4B mcap · 172M float · 1.28% daily turnover · Short 59% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

35.5 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 4.8% · 5Y Avg: -3.1%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. HE has No discernible competitive edge (35.5/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 4.8% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$12

Avg Target

$12

High

Based on 4 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 0Hold: 8Sell: 5Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$12.13

Analysts4

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-01-26	Barclays	—	$11	$13	+2	-11.8%	$14.74
2026-01-20	Jefferies	—	$12	$12	+0	-13.5%	$14.45
2026-01-15	Barclays	Nicholas Campanella	Initiated	$11	—	-21.6%	$14.03
2025-12-03	Jefferies	—	Initiated	$12	—	+7.6%	$11.15
2025-03-07	Evercore ISI	—	$16	$14	-2	+22.2%	$11.46
2024-08-23	Wells Fargo	Jonathan Reeder	$42	$14	-28	+20.5%	$11.62
2024-08-05	Evercore ISI	Michael Lonegan	Initiated	$16	—	-0.4%	$16.06
2023-01-10	Wells Fargo	—	Initiated	$42	—	+0.5%	$41.81

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

May 22, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. HE receives an overall rating of B. Strongest factors: D/E (4/5). Areas of concern: ROA (2/5), P/E (2/5).

Rating Change History

Date	From	To
2026-05-20	B+	B
2026-05-11	B	B+
2026-04-01	B-	B
2026-03-24	B	B-
2026-03-20	B-	B
2026-03-18	B	B-
2026-03-06	B+	B
2026-03-05	B	B+
2026-03-04	A-	B
2026-03-02	A	A-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 35 Grade C

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. HE scores highest in Momentum (88/100) and lowest in Safety (15/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

0.61

Distress Zone

Piotroski F-Score

5/9

✓ ✓ ✓ ✓ ✗ ✗ ✗ ✗ ✓

Beneish M-Score

-2.33

Unlikely Manipulator

Ohlson O-Score

-6.37

Bankruptcy prob: 0.2%

Low Risk

Credit Rating

BB-

Score: 38.6/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 3.11x

Accruals: -3.1%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. HE scores 0.61, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. HE scores 5/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. HE's score of -2.33 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. HE's implied 0.2% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. HE receives an estimated rating of BB- (score: 38.6/100), with a improving trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). HE's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

18.30x

PEG

0.03x

P/S

0.77x

P/B

1.45x

P/FCF

58.14x

P/OCF

6.39x

EV/EBITDA

8.40x

EV/Revenue

1.47x

EV/EBIT

17.04x

EV/FCF

102.85x

Earnings Yield

5.04%

FCF Yield

1.72%

Shareholder Yield

1.41%

Graham Number

$12.48

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 18.3x earnings, HE trades at a reasonable valuation. An earnings yield of 5.0% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $12.48 per share, 9% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.753

NI / EBT

Interest Burden

0.644

EBT / EBIT

EBIT Margin

0.086

EBIT / Rev

Asset Turnover

0.346

Rev / Assets

Equity Multiplier

5.724

Assets / Equity

ROE

8.3%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. HE's ROE of 8.3% is driven by financial leverage (equity multiplier: 5.72x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

$6.36

Price/Value

2.34x

Margin of Safety

-133.52%

Premium

133.52%

Assessment

Overvalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with HE's realized 0.0% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. HE trades at a 134% premium to its adjusted intrinsic value of $6.36, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 18.3x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$13.68

Median 1Y

$10.67

5th Pctile

$4.90

95th Pctile

$23.33

Ann. Volatility

48.7%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Scott W. H. Seu HEI President & CEO	$—	$106,363	$4,430,919
Shelee M. T. Kimura Hawaiian Electric President & CEO	$—	$66,615	$2,208,615
Kurt K. Murao HEI Executive Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary	$—	$37,122	$2,174,903

CEO Pay Ratio

Insufficient data for pay ratio.

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

—

-100.0% YoY

Revenue / Employee

—

Rev: $3,086,896,000

Profit / Employee

—

NI: $126,281,000

SGA / Employee

—

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
ROE	10.5%	10.4%	10.3%	10.5%	10.0%	10.0%	10.4%	9.7%	9.8%	8.9%	8.6%	8.1%	-50.4%	-56.7%	-73.2%	-74.0%	-6.1%	0.9%	8.1%	8.3%	8.31%
ROA	1.7%	1.7%	1.6%	1.6%	1.5%	1.5%	1.5%	1.4%	1.4%	1.3%	1.2%	1.1%	-6.9%	-7.7%	-10.9%	-11.0%	-0.9%	0.1%	1.4%	1.5%	1.45%
ROIC	6.8%	6.8%	6.6%	6.5%	6.3%	6.3%	5.6%	5.5%	6.8%	6.5%	5.6%	5.0%	-22.4%	-25.4%	-36.7%	-36.5%	1.1%	4.9%	5.0%	4.8%	4.76%
ROCE	2.6%	2.6%	2.5%	2.5%	2.4%	2.4%	2.4%	2.4%	2.4%	2.2%	1.7%	1.4%	-9.2%	-10.4%	-21.6%	-21.4%	1.2%	3.6%	3.7%	3.6%	3.56%
Gross Margin	15.0%	12.9%	11.5%	22.7%	19.7%	9.8%	19.6%	20.3%	20.6%	18.9%	14.9%	17.8%	-2.1%	-13.5%	12.8%	8.4%	7.2%	6.6%	8.3%	7.2%	7.15%
Operating Margin	15.0%	12.9%	11.5%	12.6%	9.7%	9.8%	9.1%	10.1%	20.0%	8.3%	2.4%	6.4%	-2.1%	-13.5%	12.8%	8.4%	7.2%	6.6%	8.3%	7.2%	7.15%
Net Margin	9.5%	8.4%	7.1%	8.8%	5.9%	6.0%	5.6%	5.9%	6.1%	4.6%	8.7%	5.3%	-1.6%	-11.1%	-13.9%	3.6%	3.6%	3.9%	5.1%	4.1%	4.08%
EBITDA Margin	24.5%	21.4%	20.0%	22.0%	17.9%	15.7%	16.7%	18.5%	19.2%	17.2%	11.2%	15.8%	-2.0%	-5.1%	30.2%	19.2%	18.3%	17.7%	18.1%	16.1%	16.07%
FCF Margin	0.6%	2.8%	2.1%	3.6%	0.6%	-2.5%	0.9%	1.9%	6.2%	7.1%	3.3%	2.4%	-0.4%	2.2%	4.8%	2.8%	5.3%	2.9%	1.6%	1.4%	1.43%
OCF Margin	13.4%	14.1%	13.2%	14.3%	10.4%	6.7%	9.8%	11.7%	17.1%	19.1%	16.8%	15.7%	12.2%	13.8%	16.2%	13.9%	16.4%	15.2%	12.7%	13.0%	13.03%
ROE 3Y Avg	snapshot only																				-26.40%
ROE 5Y Avg	snapshot only																				-11.73%
ROA 3Y Avg	snapshot only																				-4.53%
ROIC 3Y Avg	snapshot only																				-6.57%
ROIC Economic	snapshot only																				3.79%
Cash ROA	snapshot only																				4.51%
Cash ROIC	snapshot only																				11.23%
CROIC	snapshot only																				1.23%
NOPAT Margin	snapshot only																				5.52%
Pretax Margin	snapshot only																				5.57%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				0.00%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
P/E Ratio	17.16	16.83	16.97	17.16	17.55	15.08	18.21	17.93	16.91	6.51	7.86	6.67	-0.86	-0.85	-0.82	-1.31	-15.55	111.32	16.81	19.85	18.297
P/S Ratio	1.61	1.50	1.48	1.45	1.32	1.03	1.18	1.05	1.00	0.36	0.48	0.40	0.33	0.36	0.39	0.64	0.63	0.69	0.69	0.83	0.768
P/B Ratio	1.78	1.73	1.74	1.79	1.74	1.49	1.97	1.82	1.73	0.60	0.66	0.52	0.42	0.47	0.78	1.25	1.21	1.26	1.32	1.60	1.448
P/FCF	278.89	53.07	68.82	40.50	223.75	-40.76	137.37	54.11	16.09	5.08	14.39	16.14	-75.69	15.98	8.14	22.98	11.97	23.81	42.57	58.14	58.141
P/OCF	12.06	10.68	11.20	10.15	12.69	15.51	12.03	8.97	5.85	1.89	2.84	2.51	2.67	2.59	2.41	4.59	3.84	4.53	5.43	6.39	6.391
EV/EBITDA	10.00	9.79	10.00	10.06	9.99	9.02	11.42	10.95	10.48	6.84	8.11	8.21	-3.20	-2.83	-2.39	-2.96	10.37	7.06	7.26	8.40	8.395
EV/Revenue	2.42	2.28	2.27	2.21	2.03	1.68	2.04	1.88	1.83	1.22	1.38	1.34	1.30	1.33	1.08	1.34	1.35	1.44	1.33	1.47	1.473
EV/EBIT	16.17	15.89	16.13	16.54	17.02	15.21	19.64	19.09	18.28	12.74	16.31	17.91	-2.63	-2.40	-1.98	-2.44	44.09	14.61	14.65	17.04	17.044
EV/FCF	419.29	80.50	106.01	61.77	344.28	-66.46	237.99	96.93	29.47	17.17	41.84	54.82	-302.74	59.05	22.61	48.34	25.59	49.85	82.24	102.85	102.854
Earnings Yield	5.8%	5.9%	5.9%	5.8%	5.7%	6.6%	5.5%	5.6%	5.9%	15.4%	12.7%	15.0%	-1.2%	-1.2%	-1.2%	-76.1%	-6.4%	0.9%	5.9%	5.0%	5.04%
FCF Yield	0.4%	1.9%	1.5%	2.5%	0.4%	-2.5%	0.7%	1.8%	6.2%	19.7%	6.9%	6.2%	-1.3%	6.3%	12.3%	4.4%	8.4%	4.2%	2.3%	1.7%	1.72%
PEG Ratio	snapshot only																				0.025
Price/Tangible Book	snapshot only																				1.602
EV/OCF	snapshot only																				11.307
EV/Gross Profit	snapshot only																				20.109
Acquirers Multiple	snapshot only																				20.109
Shareholder Yield	snapshot only																				1.41%
Graham Number	snapshot only																				$12.48

Leverage & Solvency

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Current Ratio	1.96	1.96	2.40	2.40	2.40	2.40	1.61	1.61	1.61	1.61	1.59	1.59	1.59	1.59	1.61	1.61	1.61	1.61	1.32	1.32	1.320
Quick Ratio	1.96	1.96	2.40	2.40	2.40	2.40	1.61	1.61	1.61	1.61	1.59	1.59	1.59	1.59	1.61	1.61	1.61	1.61	1.32	1.32	1.320
Debt/Equity	1.05	1.05	1.07	1.07	1.07	1.07	1.53	1.53	1.53	1.53	1.36	1.36	1.36	1.36	2.20	2.20	2.20	2.20	1.84	1.84	1.842
Net Debt/Equity	0.89	0.89	0.94	0.94	0.94	0.94	1.44	1.44	1.44	1.44	1.25	1.25	1.25	1.25	1.38	1.38	1.38	1.38	1.23	1.23	1.232
Debt/Assets	0.16	0.16	0.16	0.16	0.16	0.16	0.21	0.21	0.21	0.21	0.19	0.19	0.19	0.19	0.37	0.37	0.37	0.37	0.33	0.33	0.332
Debt/EBITDA	3.94	3.93	4.01	3.96	4.00	3.99	5.14	5.15	5.06	5.13	5.78	6.29	-2.61	-2.24	-2.45	-2.48	8.80	5.88	5.24	5.46	5.459
Net Debt/EBITDA	3.35	3.34	3.51	3.46	3.50	3.49	4.83	4.84	4.76	4.82	5.32	5.79	-2.40	-2.06	-1.53	-1.55	5.52	3.69	3.50	3.65	3.650
Interest Coverage	4.44	4.38	4.41	4.35	4.09	4.01	3.88	3.63	3.54	3.12	2.30	1.92	-12.05	-13.66	-13.52	-13.12	0.75	2.39	2.48	2.43	2.434
Equity Multiplier	6.42	6.42	6.62	6.62	6.62	6.62	7.45	7.45	7.45	7.45	7.25	7.25	7.25	7.25	5.90	5.90	5.90	5.90	5.56	5.56	5.556
Cash Ratio	snapshot only																				0.687
Debt Service Coverage	snapshot only																				4.942
Cash to Debt	snapshot only																				0.331
FCF to Debt	snapshot only																				0.015

Efficiency & Turnover

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Asset Turnover	0.18	0.19	0.18	0.19	0.20	0.22	0.23	0.24	0.24	0.23	0.19	0.19	0.18	0.18	0.23	0.23	0.22	0.21	0.35	0.35	0.346
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	8.99	9.39	9.11	9.57	10.26	11.17	8.74	9.08	9.08	8.75	6.21	5.95	5.76	5.83	6.00	5.91	5.81	5.51	6.51	6.51	6.513
Payables Turnover	11.10	11.69	12.71	13.02	13.75	15.20	13.50	14.09	14.05	13.14	11.82	11.42	19.17	20.65	22.85	23.01	14.24	12.61	13.50	13.55	13.552
DSO	41	39	40	38	36	33	42	40	40	42	59	61	63	63	61	62	63	66	56	56	56.0 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	33	31	29	28	27	24	27	26	26	28	31	32	19	18	16	16	26	29	27	27	26.9 days
Cash Conversion Cycle	8	8	11	10	9	9	15	14	14	14	28	29	44	45	45	46	37	37	29	29	29.1 days
Fixed Asset Turnover	snapshot only																				0.495
Cash Velocity	snapshot only																				3.150
Capital Intensity	snapshot only																				2.888

Growth (YoY)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue	-6.0%	3.0%	10.5%	17.6%	22.6%	27.8%	31.3%	29.8%	21.1%	7.2%	-12.1%	-18.9%	-21.5%	-17.6%	-8.4%	-5.9%	-4.4%	-10.3%	2.5%	4.2%	4.20%
Net Income	15.1%	13.2%	24.2%	9.4%	-2.1%	-2.0%	-2.6%	-10.0%	-4.7%	-13.1%	-17.5%	-17.8%	-6.1%	-7.3%	-8.2%	-8.7%	89.9%	1.0%	1.1%	1.1%	1.09%
EPS	14.9%	13.0%	23.9%	9.3%	-2.2%	-2.1%	-2.8%	-10.2%	-4.8%	-13.3%	-17.9%	-18.3%	-6.0%	-7.1%	-7.5%	-5.9%	93.5%	1.0%	1.1%	1.1%	1.09%
FCF	-89.9%	25.0%	34.4%	38.1%	24.8%	-2.1%	-47.6%	-29.6%	11.8%	4.0%	2.4%	2.5%	-1.1%	-74.0%	32.7%	6.7%	12.7%	15.7%	-65.4%	-46.3%	-46.27%
EBITDA	6.9%	9.1%	14.8%	7.9%	2.6%	2.5%	3.0%	1.4%	4.2%	2.5%	-15.9%	-22.6%	-2.8%	-3.2%	-3.4%	-3.6%	1.3%	1.4%	1.4%	1.4%	1.40%
Op. Income	15.4%	14.0%	23.9%	10.7%	-2.1%	-0.3%	-1.3%	-3.1%	25.7%	17.0%	-5.2%	-15.1%	-4.3%	-4.9%	-5.6%	-6.2%	1.0%	1.1%	1.1%	1.1%	1.14%
OCF Growth	snapshot only																				-2.45%
Asset Growth	snapshot only																				-0.10%
Equity Growth	snapshot only																				6.11%
Debt Growth	snapshot only																				-11.18%
Shares Change	snapshot only																				0.30%
Dividend Growth	snapshot only																				-49.95%

Growth (CAGR)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue 3Y	-0.6%	-0.3%	-0.1%	1.3%	3.3%	6.3%	9.2%	10.4%	11.8%	12.2%	8.4%	7.4%	5.2%	4.2%	1.9%	-0.3%	-3.1%	-7.5%	-6.2%	-7.4%	-7.36%
Revenue 5Y	1.3%	2.7%	3.7%	4.3%	5.2%	6.8%	7.9%	8.3%	7.8%	6.3%	2.8%	1.8%	1.0%	1.2%	0.9%	0.5%	0.9%	0.8%	3.7%	3.9%	3.95%
EPS 3Y	11.0%	9.6%	7.0%	6.7%	5.6%	5.8%	3.3%	3.1%	2.3%	-1.4%	-0.4%	-7.1%	—	—	—	—	—	-64.3%	-30.7%	-28.8%	-28.77%
EPS 5Y	7.4%	-0.4%	-0.2%	0.0%	-0.5%	6.0%	7.7%	5.6%	4.9%	2.2%	-0.5%	-2.3%	—	—	—	—	—	-45.0%	-16.7%	-18.7%	-18.71%
Net Income 3Y	11.2%	9.8%	7.1%	6.8%	5.7%	5.9%	3.4%	3.2%	2.4%	-1.2%	-0.1%	-6.8%	—	—	—	—	—	-58.5%	-19.4%	-17.1%	-17.06%
Net Income 5Y	7.7%	-0.2%	-0.0%	0.2%	-0.3%	6.1%	7.9%	5.8%	5.1%	2.4%	-0.3%	-2.1%	—	—	—	—	—	-39.7%	-8.8%	-10.9%	-10.89%
EBITDA 3Y	2.5%	3.1%	3.4%	3.0%	2.5%	2.1%	2.3%	3.7%	4.5%	4.7%	-0.2%	-5.4%	—	—	—	—	-16.5%	-4.6%	-5.4%	-6.6%	-6.64%
EBITDA 5Y	3.3%	3.1%	3.0%	3.3%	3.4%	3.0%	3.4%	3.0%	2.9%	2.9%	-0.8%	-3.0%	—	—	—	—	-8.6%	-0.6%	0.0%	-2.3%	-2.29%
Gross Profit 3Y	3.3%	4.2%	5.0%	11.2%	17.5%	18.0%	23.5%	26.3%	27.0%	30.9%	26.3%	18.3%	—	—	—	—	-54.2%	-25.0%	-29.0%	-30.2%	-30.24%
Gross Profit 5Y	2.6%	2.0%	2.1%	6.1%	9.9%	9.8%	14.2%	14.3%	14.3%	17.4%	13.5%	11.3%	—	—	—	—	-30.9%	-7.0%	-5.5%	-8.3%	-8.34%
Op. Income 3Y	3.3%	4.2%	5.0%	4.5%	3.7%	4.3%	3.0%	4.3%	12.4%	10.0%	5.1%	-3.1%	—	—	—	—	-48.1%	-15.1%	-14.8%	-15.5%	-15.52%
Op. Income 5Y	2.6%	2.0%	2.1%	2.2%	2.0%	2.0%	2.4%	1.9%	6.3%	5.7%	1.6%	-1.3%	—	—	—	—	-30.9%	-7.0%	-5.5%	-8.3%	-8.34%
FCF 3Y	—	—	—	83.3%	2.2%	—	-16.5%	30.4%	17.0%	62.7%	33.7%	-0.1%	—	-3.6%	33.1%	-8.3%	1.0%	—	15.9%	-16.2%	-16.23%
FCF 5Y	-21.8%	-17.0%	-18.0%	6.5%	-29.3%	—	—	—	—	—	—	34.8%	—	-10.2%	21.3%	19.4%	0.4%	5.3%	1.8%	-10.6%	-10.59%
OCF 3Y	0.7%	-0.2%	-9.0%	-7.7%	-14.1%	-26.4%	-10.6%	-2.9%	4.8%	14.0%	8.7%	6.5%	2.2%	3.6%	9.1%	-1.1%	12.9%	21.9%	2.3%	-3.9%	-3.94%
OCF 5Y	-6.0%	-6.7%	-5.4%	0.4%	-6.1%	-9.2%	-2.8%	4.7%	14.1%	13.1%	2.0%	-1.8%	-6.6%	-6.0%	-1.0%	-3.6%	-3.7%	-2.7%	-1.9%	-0.4%	-0.36%
Assets 3Y	6.3%	6.3%	6.6%	6.6%	6.6%	6.6%	6.6%	6.6%	6.6%	6.6%	4.2%	4.2%	4.2%	4.2%	-17.8%	-17.8%	-17.8%	-17.8%	-18.8%	-18.8%	-18.78%
Assets 5Y	5.2%	5.2%	5.2%	5.2%	5.2%	5.2%	5.6%	5.6%	5.6%	5.6%	5.4%	5.4%	5.4%	5.4%	-8.3%	-8.3%	-8.3%	-8.3%	-10.2%	-10.2%	-10.15%
Equity 3Y	3.6%	3.6%	3.4%	3.4%	3.4%	3.4%	-1.1%	-1.1%	-1.1%	-1.1%	0.1%	0.1%	0.1%	0.1%	-14.5%	-14.5%	-14.5%	-14.5%	-10.5%	-10.5%	-10.46%
Book Value 3Y	3.4%	3.5%	3.2%	3.2%	3.2%	3.2%	-1.2%	-1.3%	-1.3%	-1.3%	-0.2%	-0.2%	-0.1%	-1.3%	-17.2%	-26.6%	-26.5%	-26.6%	-23.0%	-23.1%	-23.09%
Dividend 3Y	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.8%	0.7%	0.6%	-0.6%	-21.5%	-38.5%	-73.2%	-38.4%	-71.7%	-67.9%	-26.7%	-71.1%	-21.8%	-31.8%	-31.80%

Growth Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue Stability	0.26	0.36	0.34	0.36	0.47	0.52	0.53	0.54	0.63	0.65	0.40	0.30	0.24	0.26	0.12	0.04	0.02	0.01	0.07	0.04	0.040
Earnings Stability	0.27	0.05	0.04	0.11	0.14	0.94	0.77	0.72	0.71	0.37	0.07	0.00	0.41	0.42	0.43	0.44	0.32	0.24	0.19	0.20	0.199
Margin Stability	0.90	0.90	0.90	0.87	0.84	0.88	0.84	0.84	0.84	0.79	0.77	0.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
Rev. Growth Consistency	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.500
Earn. Growth Consistency	1.00	1.00	0.50	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
FCF Positive Streak	1	1	1	1	1	0	1	1	1	0	1	1	0	1	1	1	0	1	1	1	1
Earnings Persistence	0.94	0.95	0.90	0.96	0.99	0.99	0.99	0.96	0.98	0.95	0.93	0.93	0.20	0.20	0.20	0.20	0.50	0.20	0.20	0.20	0.200
Earnings Smoothness	0.86	0.88	0.78	0.91	0.98	0.98	0.97	0.89	0.95	0.86	0.81	0.80	—	—	—	—	—	—	—	—	—
ROE Trend	0.01	0.01	0.01	0.01	0.00	0.00	0.01	0.00	0.00	-0.01	-0.02	-0.02	-0.59	-0.65	-1.04	-1.04	0.12	0.24	0.51	0.52	0.517
Gross Margin Trend	0.03	0.02	0.01	0.03	0.04	0.02	0.05	0.02	0.02	0.05	0.04	0.02	-0.59	-0.68	-0.71	-0.74	0.14	0.24	0.24	0.26	0.262
FCF Margin Trend	-0.02	-0.00	0.00	0.01	-0.02	-0.05	-0.01	-0.01	0.06	0.07	0.02	-0.00	-0.04	-0.00	0.03	0.01	0.02	-0.02	-0.02	-0.01	-0.012
Sustainable Growth Rate	4.2%	4.0%	4.1%	4.2%	3.7%	3.6%	3.7%	3.1%	3.1%	2.4%	5.4%	6.5%	—	—	—	—	—	0.8%	8.0%	8.2%	8.25%
Internal Growth Rate	0.7%	0.7%	0.6%	0.6%	0.6%	0.5%	0.5%	0.4%	0.4%	0.3%	0.7%	0.9%	—	—	—	—	—	0.1%	1.4%	1.5%	1.46%

Cash Flow Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
OCF/Net Income	1.42	1.58	1.51	1.69	1.38	0.97	1.51	2.00	2.89	3.45	2.77	2.65	-0.32	-0.33	-0.34	-0.29	-4.05	24.56	3.10	3.11	3.106
FCF/OCF	0.04	0.20	0.16	0.25	0.06	-0.38	0.09	0.17	0.36	0.37	0.20	0.16	-0.04	0.16	0.30	0.20	0.32	0.19	0.13	0.11	0.110
FCF/Net Income	snapshot only																				0.341
OCF/EBITDA	snapshot only																				0.743
CapEx/Revenue	12.8%	11.2%	11.0%	10.7%	9.8%	9.2%	8.9%	9.7%	10.9%	12.0%	13.5%	13.3%	12.7%	11.6%	11.4%	11.1%	11.1%	12.3%	11.1%	11.6%	11.59%
CapEx/Depreciation	snapshot only																				1.302
Accruals Ratio	-0.01	-0.01	-0.01	-0.01	-0.01	0.00	-0.01	-0.01	-0.03	-0.03	-0.02	-0.02	-0.09	-0.10	-0.15	-0.14	-0.05	-0.03	-0.03	-0.03	-0.031
Sloan Accruals	snapshot only																				-0.070
Cash Flow Adequacy	snapshot only																				1.121
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Dividend Yield	3.5%	3.6%	3.6%	3.5%	3.6%	4.3%	3.5%	3.8%	4.0%	11.2%	4.8%	2.9%	0.3%	3.4%	0.2%	0.1%	0.1%	0.1%	0.1%	0.0%	0.00%
Dividend/Share	$1.35	$1.36	$1.37	$1.38	$1.39	$1.40	$1.41	$1.41	$1.43	$1.38	$0.68	$0.33	$0.03	$0.32	$0.02	$0.01	$0.01	$0.01	$0.01	$0.01	$0.00
Payout Ratio	60.4%	61.2%	60.7%	60.1%	63.5%	64.4%	64.0%	68.4%	68.3%	73.3%	37.8%	19.5%	—	—	—	—	—	8.3%	1.1%	0.7%	0.73%
FCF Payout Ratio	9.8%	1.9%	2.5%	1.4%	8.1%	—	4.8%	2.1%	65.0%	57.1%	69.3%	47.2%	—	53.6%	1.3%	2.3%	1.2%	1.8%	2.8%	2.1%	2.14%
Total Payout Ratio	60.4%	61.2%	60.7%	60.1%	63.5%	64.4%	64.0%	69.4%	69.3%	74.4%	39.0%	20.1%	—	—	—	—	—	8.3%	29.1%	28.0%	28.02%
Div. Increase Streak	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	0.07	0.07	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.10	-0.46	-0.74	-0.98	-0.72	-0.97	-0.95	-0.38	-0.96	-0.25	-0.50	-0.499
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	1.7%	1.4%	1.38%
Net Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	-0.0%	-0.0%	-50.3%	-47.3%	-29.4%	-30.3%	-0.0%	1.7%	1.4%	1.38%
Total Shareholder Return	3.5%	3.6%	3.6%	3.5%	3.6%	4.3%	3.5%	3.9%	4.1%	11.4%	4.9%	2.9%	0.3%	-46.9%	-47.2%	-29.3%	-30.2%	0.1%	1.7%	1.4%	1.41%

DuPont Factors

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Tax Burden (NI/EBT)	0.81	0.81	0.80	0.79	0.80	0.79	0.80	0.80	0.79	0.81	0.84	0.95	0.75	0.75	0.81	0.82	3.92	0.11	0.76	0.75	0.753
Interest Burden (EBT/EBIT)	0.77	0.77	0.77	0.80	0.79	0.78	0.78	0.75	0.74	0.72	0.85	0.83	1.03	1.03	1.07	1.08	-0.34	0.58	0.60	0.64	0.644
EBIT Margin	0.15	0.14	0.14	0.13	0.12	0.11	0.10	0.10	0.10	0.10	0.08	0.07	-0.50	-0.55	-0.55	-0.55	0.03	0.10	0.09	0.09	0.086
Asset Turnover	0.18	0.19	0.18	0.19	0.20	0.22	0.23	0.24	0.24	0.23	0.19	0.19	0.18	0.18	0.23	0.23	0.22	0.21	0.35	0.35	0.346
Equity Multiplier	6.18	6.18	6.53	6.53	6.53	6.53	7.02	7.02	7.02	7.02	7.34	7.34	7.34	7.34	6.72	6.72	6.72	6.72	5.72	5.72	5.724

Per Share

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
EPS (Diluted TTM)	$2.24	$2.23	$2.26	$2.30	$2.19	$2.18	$2.20	$2.07	$2.09	$1.89	$1.81	$1.69	$-10.54	$-11.44	$-11.81	$-8.33	$-0.68	$0.10	$0.73	$0.75	$0.75
Book Value/Share	$21.66	$21.65	$22.13	$22.12	$22.12	$22.11	$20.38	$20.37	$20.38	$20.35	$21.57	$21.54	$21.57	$20.80	$12.54	$8.76	$8.77	$8.75	$9.30	$9.27	$9.49
Tangible Book/Share	$20.91	$20.90	$21.38	$21.37	$21.37	$21.36	$19.63	$19.62	$19.63	$19.60	$20.82	$20.79	$20.82	$20.09	$12.54	$8.76	$8.77	$8.75	$9.30	$9.27	$9.27
Revenue/Share	$23.89	$24.94	$26.02	$27.30	$29.25	$31.84	$34.09	$35.38	$35.39	$34.07	$29.80	$28.52	$27.66	$27.00	$24.97	$17.16	$16.89	$16.01	$17.88	$17.82	$17.90
FCF/Share	$0.14	$0.71	$0.56	$0.98	$0.17	$-0.81	$0.29	$0.69	$2.19	$2.42	$0.99	$0.70	$-0.12	$0.61	$1.20	$0.48	$0.89	$0.46	$0.29	$0.26	$0.26
OCF/Share	$3.19	$3.51	$3.43	$3.89	$3.03	$2.12	$3.33	$4.13	$6.04	$6.52	$5.00	$4.48	$3.38	$3.74	$4.04	$2.39	$2.77	$2.44	$2.27	$2.32	$2.33
Cash/Share	$3.43	$3.43	$2.98	$2.98	$2.98	$2.98	$1.88	$1.88	$1.88	$1.88	$2.35	$2.35	$2.35	$2.27	$10.30	$7.19	$7.20	$7.19	$5.68	$5.66	$2.62
EBITDA/Share	$5.79	$5.80	$5.92	$5.99	$5.93	$5.94	$6.08	$6.06	$6.17	$6.08	$5.09	$4.66	$-11.28	$-12.65	$-11.29	$-7.78	$2.19	$3.27	$3.27	$3.13	$3.13
Debt/Share	$22.82	$22.80	$23.74	$23.72	$23.72	$23.71	$31.23	$31.21	$31.23	$31.19	$29.41	$29.36	$29.41	$28.36	$27.61	$19.28	$19.29	$19.27	$17.14	$17.07	$17.07
Net Debt/Share	$19.38	$19.37	$20.76	$20.74	$20.74	$20.73	$29.35	$29.34	$29.35	$29.31	$27.06	$27.02	$27.06	$26.10	$17.31	$12.09	$12.10	$12.08	$11.46	$11.41	$11.41

Academic Models

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.613
Altman Z-Prime	snapshot only																				0.663
Piotroski F-Score	7	6	7	8	7	5	6	5	6	6	4	4	3	3	4	4	6	7	5	5	5
Beneish M-Score	-2.62	-2.39	-2.26	-2.48	-2.39	-2.05	-2.32	-2.04	-2.17	-2.33	-2.39	-2.26	-3.23	-4.00	-4.04	-3.50	-19.45	-5.11	-1.94	-2.33	-2.329
Ohlson O-Score	snapshot only																				-6.372
ROIC (Greenblatt)	snapshot only																				3.98%
Net-Net WC	snapshot only																				$-31.34
EVA	snapshot only																				$-187902262.86

Credit

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Credit Rating	snapshot only																				BB-
Credit Score	49.56	50.30	50.19	51.49	51.25	51.12	46.22	45.69	46.72	45.93	42.00	37.37	36.16	36.90	27.48	25.76	23.21	38.88	37.93	38.56	38.557
Credit Grade	snapshot only																				13
Credit Trend	snapshot only																				12.798
Implied Spread (bps)	snapshot only																				550.000
Industry Credit Rank	snapshot only																				48
Sector Credit Rank	snapshot only																				42

HE NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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