Hawaiian Electric Industries (HE) FY2015 results: revenue $2.6 billion, down 19.6% on the year
Hawaiian Electric Industries Inc. (HE) reported revenue of $2.6 billion for fiscal 2015, the year ended 31 December 2015, down 19.6% on the year before. Net income was $160 million, down 5.0%, and diluted earnings per share $1.50. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$2.6 billion
-19.6% on the year
FY2008FY2015
Operating margin
12.4%
10.3% a year earlier
FY2008FY2015
Net income
$160 million
-5.0% on the year
FY2008FY2015
Diluted EPS
$1.50
-8.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,603
3,240
3,238
-19.6%
Operating income
323
333
318
-3.0%
Operating margin
12.4%
10.3%
9.8%
Interest expense
88.5
87.2
85.6
+1.5%
Pre-tax income
255
266
250
-4.1%
Income tax
93.0
95.6
86.2
-2.7%
Effective tax rate
36.5%
36.0%
34.5%
Net income
160
168
162
-5.0%
Net margin
6.1%
5.2%
5.0%
Diluted EPS
$1.50
$1.64
$1.62
-8.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
357
n/a
n/a
Capital expenditure
364
365
389
-0.3%
Free cash flow
-6.9
n/a
n/a
Free cash flow margin
-0.3%
n/a
n/a
Cash from investing
-706
n/a
n/a
Cash from financing
474
n/a
n/a
Depreciation and amortisation
196
183
167
+6.9%
Share-based compensation
6.5
9.3
7.8
-29.6%
Dividends paid
132
126
98.4
+4.2%
Dividend per share
$1.24
$1.24
$1.24
0.0%
Diluted shares, weighted
107m
103m
100m
+3.7%
Shares outstanding at period end
107m
103m
101m
+4.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,928
1,791
1,727
+7.6%
Redeemable equity
34.3
34.3
34.3
0.0%
Deposits
5,025
4,623
4,372
+8.7%
Debt
2,010
1,916
1,843
+4.9%
Other liabilities
2,793
2,819
2,363
-0.9%
Total liabilities and equity
11,790
11,184
10,340
+5.4%
Fixed assets
4,378
4,149
3,859
+5.5%
Goodwill
82.2
82.2
82.2
0.0%
Securities held for sale or to maturity
213
120
160
+78.1%
Loans
4,566
4,389
4,110
+4.0%
Cash and equivalents
300
n/a
n/a
Other assets
2,251
2,445
2,129
-7.9%
Total assets
11,790
11,184
10,340
+5.4%
10-K for the year ended 31 December 2015, filed 23 February 2016: the filing.