Hawaiian Electric Industries (HE) FY2021 results: revenue $2.9 billion, up 10.5% on the year
Hawaiian Electric Industries Inc. (HE) reported revenue of $2.9 billion for fiscal 2021, the year ended 31 December 2021, up 10.5% on the year before. Net income was $248 million, up 24.2%, and diluted earnings per share $2.25. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$2.9 billion
+10.5% on the year
FY2014FY2021
Operating margin
13.5%
12.1% a year earlier
FY2014FY2021
Net income
$248 million
+24.2% on the year
FY2014FY2021
Diluted EPS
$2.25
+24.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
376
429
512
-12.5%
Capital expenditure
315
384
458
-18.1%
Free cash flow
61.1
45.5
55.0
+34.4%
Free cash flow margin
2.1%
1.8%
1.9%
Cash from investing
-1,180
-1,414
-542
Cash from financing
756
1,116
87.7
-32.2%
Depreciation and amortisation
279
291
278
-4.2%
Share-based compensation
9.1
5.8
10.0
+57.2%
Dividends paid
149
144
139
+3.2%
Dividend per share
$1.36
$1.32
$1.28
+3.0%
Diluted shares, weighted
110m
109m
109m
+0.2%
Shares outstanding at period end
109m
109m
109m
+0.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,391
2,338
2,280
+2.3%
Redeemable equity
34.3
34.3
34.3
0.0%
Deposits
8,172
7,387
6,272
+10.6%
Debt
2,464
2,338
2,265
+5.4%
Other liabilities
2,761
2,907
2,894
-5.0%
Total liabilities and equity
15,823
15,004
13,745
+5.5%
Fixed assets
5,392
5,266
5,110
+2.4%
Goodwill
82.2
82.2
82.2
0.0%
Securities held for sale or to maturity
3,097
2,197
1,372
+40.9%
Loans
5,140
5,233
5,068
-1.8%
Trading assets
n/a
1,970
1,233
Cash and equivalents
306
341
197
-10.5%
Other assets
1,806
n/a
684
Total assets
15,823
15,004
13,745
+5.5%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.