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Hawaiian Electric Industries, Inc. (HE) vs MGE Energy Inc. (MGEE)

Hawaiian Electric Industries, Inc. and MGE Energy Inc. are both Utilities Regulated Electric companies. MGE Energy Inc. is the larger, with a market value of $3.0B against $1.5B — 2.0× the size. Hawaiian Electric Industries, Inc. trades at the lower P/E: 6.4× against 18.5×. Hawaiian Electric Industries, Inc. grew revenue faster over the last twelve months: 13.7% against 8.04%. MGE Energy Inc. has the higher net margin (20.6% vs 6.53%) and the lower return on invested capital (4.58% vs 12.7%). Across the 21 metrics below, Hawaiian Electric Industries, Inc. leads on 11 and MGE Energy Inc. on 10.

Valuation

Metric HE MGEE Utilities Regulated Electric median
P/E 6.38 18.48 19.26
P/S 0.42 3.87 2.77
P/B 0.81 2.05 1.79
Price to free cash flow n/m n/m 42.54
EV/EBITDA 6.20 13.54 12.41
EV/Sales 1.18 5.05 4.92
Earnings yield 15.67% 5.41% 5.13%
Free cash flow yield (42.89%) (3.44%) (6.33%)

Profitability

Metric HE MGEE Utilities Regulated Electric median
Gross margin 0.00% 73.38% 63.53%
Operating margin 10.45% 22.50% 21.72%
Net margin 6.53% 20.60% 12.70%
Free cash flow margin (13.86%) (13.31%) (12.22%)
Return on equity 13.59% 11.62% 9.94%
Return on assets 2.64% 5.09% 2.84%
Return on invested capital 12.69% 4.58% 3.89%

Growth

Metric HE MGEE Utilities Regulated Electric median
Revenue growth (TTM) 13.65% 8.04% 7.91%
EPS growth (last fiscal year) 106.32% 11.71% 6.01%
Revenue growth, 5-year CAGR 3.65% 6.66% 6.72%
Net income growth, 5-year CAGR (9.05%) 8.02% 6.50%

Health

Metric HE MGEE Utilities Regulated Electric median
Debt to equity 0.00 0.63 1.54
Current ratio 0.99 1.09 0.84
Net debt to EBITDA 3.62 3.17 5.27

Dividend

Metric HE MGEE Utilities Regulated Electric median
Dividend yield — 2.41% 3.16%
Payout ratio — 0.45 0.61

Size

Metric HE MGEE Utilities Regulated Electric median
Market cap 1.46b 2.96b 26.50b

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