Hawaiian Electric Industries (HE) Operating Expenses (2009 - 2026)
Hawaiian Electric Industries (HE) recorded Operating Expenses of $735.49 million in Q2 2026, up 6.2% from $692.65 million a year earlier and up 6.1% from the prior quarter.
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Analysis
Hawaiian Electric Industries (HE) Operating Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, Hawaiian Electric Industries' Operating Expenses came in at $2.91 billion as of Jun 30, 2026; for FY2025, it was $2.85 billion, up 828.8% from FY2024.
- Annual Operating Expenses has increased for 11 straight years, with a five-year compound annual growth rate of 71.6% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $307.01 million in FY2024 (+37.3%), $223.64 million in FY2023 (+8.9%), $205.27 million in FY2022 (+4.1%) and $197.15 million in FY2021 (+2.9%).
- Quarterly Operating Expenses has ranged from -$3.87 billion in Q4 2024 to $2.46 billion in Q2 2024 over the past five years.
- On a year-over-year basis, Operating Expenses rose in two of the last five quarters, with an average decline of 19.4%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 12.9% in Q1 2023, against a decline of 71.8% in Q2 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $693.07 million (Q1 2026), $738.72 million (Q4 2025) and $738.56 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 298.11 Bn | 298.11 Bn | 890.00 Mn | -140.00 Mn |
| 2 | Nextera Energy | 159.16 Bn | 160.06 Bn | - | 5.29 Bn |
| 3 | Southern | 96.40 Bn | 87.46 Bn | 5.92 Bn | 5.20 Bn |
| 4 | Duke Energy | 88.56 Bn | 87.16 Bn | 6.74 Bn | 6.84 Bn |
| 5 | National Grid | 79.03 Bn | 60.56 Bn | - | - |
| 6 | American Electric Power | 65.18 Bn | 63.56 Bn | 3.84 Bn | 4.20 Bn |
| 7 | Dominion Energy | 53.70 Bn | 56.38 Bn | - | 4.15 Bn |
| 8 | Sempra | 51.10 Bn | 50.23 Bn | 2.89 Bn | 1.35 Bn |
| 9 | Entergy | 47.05 Bn | 36.24 Bn | - | 2.67 Bn |
| 10 | Hawaiian Electric Industries | 1.52 Bn | -218.13 Mn | - | 735.49 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 735.49 Mn |
| Mar 31, 2026 | 693.07 Mn |
| Dec 31, 2025 | 738.72 Mn |
| Sep 30, 2025 | 738.56 Mn |
| Jun 30, 2025 | 692.65 Mn |
| Mar 31, 2025 | 681.65 Mn |
| Dec 31, 2024 | -3.87 Bn |
| Sep 30, 2024 | 982.96 Mn |
| Jun 30, 2024 | 2.46 Bn |
| Mar 31, 2024 | 741.13 Mn |
| Dec 31, 2023 | 59.11 Mn |
| Sep 30, 2023 | 56.35 Mn |
| Jun 30, 2023 | 53.77 Mn |
| Mar 31, 2023 | 54.42 Mn |
| Dec 31, 2022 | 56.10 Mn |
| Sep 30, 2022 | 51.56 Mn |
| Jun 30, 2022 | 49.40 Mn |
| Mar 31, 2022 | 48.21 Mn |
| Dec 31, 2021 | 49.97 Mn |
| Sep 30, 2021 | 51.51 Mn |
API Access
Hawaiian Electric Industries Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=HE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "HE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=HE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();