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Held by 330 of 5,944 reporting institutions (95th percentile) — extremely crowded.
Data as of Q1 2026
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Ranked against 95 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GEV | $249.3B | 52.3× | 124.5× | 6.5× | 9.0% | 19.8% | 12.8% | 43.7% | 43.4% | 0.0× | 2,989 |
| NEE | $167.4B | 24.4× | — | 6.5× | 9.8% | — | 26.5% | 12.5% | 4.6% | — | 2,911 |
| SO | $95.1B | 22.0× | — | 3.2× | 10.6% | — | 14.7% | 12.1% | 11.8% | — | 2,268 |
| DUK | $91.6B | 18.7× | 10.7× | 2.9× | 5.6% | — | 15.7% | 9.6% | 3.7% | 5.1× | 2,360 |
| CEG | $81.0B | 35.1× | 21.3× | 3.2× | 8.3% | — | 9.1% | 16.0% | 9.9% | 2.2× | 1,836 |
| AEP | $65.3B | 18.1× | 12.8× | 3.0× | 10.9% | — | 16.9% | 11.9% | 4.8% | 5.3× | 1,854 |
| D | $55.8B | 18.4× | — | 3.4× | 14.2% | — | 18.2% | 10.3% | 3.8% | — | 1,421 |
| SRE | $53.3B | 29.7× | — | 3.9× | 3.9% | — | 13.4% | 5.8% | 5.1% | — | 1,217 |
| VST | $47.5B | 64.4× | 16.8× | 2.7× | 3.0% | — | 5.3% | 18.5% | 3.9% | 4.8× | 1,246 |
| XEL | $45.3B | 21.3× | — | — | — | — | — | 8.5% | 3.5% | — | 1,208 |
| ETR | $45.2B | 26.2× | 13.1× | 3.5× | 9.0% | — | 13.7% | 10.5% | 3.9% | 5.2× | 1,224 |
| EXC | $43.4B | — | 11.1× | 1.8× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.9× | 1,230 |
| ED | $38.1B | 18.7× | — | 2.3× | 10.9% | — | 12.0% | 8.4% | 4.0% | — | 1,368 |
| PEG | $35.1B | 16.7× | — | 2.9× | 18.3% | — | 17.3% | 12.4% | 5.3% | — | 1,231 |
| WEC | $33.6B | 21.5× | 14.5× | 3.4× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 1,310 |
| AEE | $28.5B | 19.3× | — | 3.2× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 884 |
| AWK | $26.9B | 24.2× | 10.2× | 5.3× | 10.1% | — | 21.7% | 10.3% | 8.9% | 0.6× | 1,100 |
| FE | $26.2B | 25.8× | 6.8× | 1.7× | 12.0% | — | 6.8% | 8.2% | 7.9% | 0.1× | 894 |
| ATO | $26.2B | 21.7× | 11.3× | 5.6× | 12.9% | — | 25.5% | 8.8% | 8.8% | — | 961 |
| ES | $25.5B | 14.9× | 9.9× | 1.9× | 13.8% | — | 12.5% | 10.5% | 3.8% | 5.2× | 1,012 |
| PPL | $25.1B | 21.0× | 12.3× | 2.8× | 6.9% | — | 13.1% | 7.9% | 3.5% | 5.4× | 947 |
| CNP | $25.0B | 24.0× | 12.7× | 2.7× | 8.3% | 100.0% | 11.2% | 9.4% | 3.3% | 5.8× | 774 |
| EIX | $21.1B | 4.8× | 5.8× | 1.1× | 9.8% | — | 23.1% | 25.4% | 8.0% | 3.7× | 1,005 |
| NRG | $20.4B | 26.8× | 9.9× | 0.7× | 9.2% | — | 2.8% | 51.4% | 4.8% | 5.1× | 1,010 |
| CMS | $20.2B | 18.7× | 12.7× | 2.4× | 13.6% | — | 12.5% | 11.7% | 3.8% | 6.2× | 762 |
| HE | $1.8B | 14.4× | 6.9× | 0.6× | -4.1% | — | 4.1% | 7.9% | 3.1% | 4.5× | 330 |
Peers = companies sharing HE's sector (Utilities) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 3%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $502M covers the $125M due within a year 4.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.9% on $2.4B of debt.
Cash of $502M fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.09B 100.0% | $3.22B 100.0% | $3.29B 100.0% | $3.42B 100.0% | $2.85B 100.0% | $2.58B 100.0% | $2.87B 100.0% | $2.86B 100.0% | $2.56B 100.0% | $2.38B 100.0% |
| Total Operating Expenses | $2.85B 92.4% | $4.93B 153.0% | $3.01B 91.6% | $3.14B 91.8% | $2.46B 86.5% | $2.27B 87.9% | $2.53B 87.9% | $2.53B 88.3% | $2.21B 86.5% | $2.02B 85.1% |
| Operating Income | $235.3M 7.6% | -$1.71B -53.0% | $275.0M 8.4% | $279.6M 8.2% | $386.1M 13.5% | $311.5M 12.1% | $348.0M 12.1% | $333.4M 11.7% | $346.2M 13.5% | $355.8M 14.9% |
| Interest Expense | $117.3M 3.8% | $127.2M 4.0% | $208.3M 6.3% | $116.7M 3.4% | $99.4M 3.5% | $99.8M 3.9% | $109.3M 3.8% | $104.2M 3.6% | $91.1M 3.6% | $88.6M 3.7% |
| Interest & Investment Income | $36.9M 1.2% | $19.4M 0.6% | $9.1M 0.3% | $0 0.0% | $0 0.0% | — | — | $3.4M 0.1% | — | — |
| Pretax Income | $166.9M 5.4% | -$1.79B -55.6% | $182.3M 5.5% | $202.0M 5.9% | $310.9M 10.9% | $240.6M 9.3% | $271.4M 9.4% | $254.5M 8.9% | $276.6M 10.8% | $373.8M 15.7% |
| Income Tax Expense | $40.6M 1.3% | -$471.0M -14.6% | $34.5M 1.1% | $38.9M 1.1% | $62.8M 2.2% | $40.9M 1.6% | $51.6M 1.8% | $50.8M 1.8% | $109.4M 4.3% | $123.7M 5.2% |
| Net Income | $123.1M 4.0% | -$1.43B -44.3% | $199.2M 6.1% | $241.1M 7.0% | $246.2M 8.6% | $199.7M 7.7% | $219.8M 7.6% | $203.7M 7.1% | $167.2M 6.5% | $250.1M 10.5% |
| Per Share | ||||||||||
| EPS (Basic) | $0.71 | $-11.23 | $1.82 | $2.20 | $2.25 | $1.81 | $2.00 | $1.85 | $1.52 | $2.30 |
| EPS (Diluted) | $0.71 | $-11.23 | $1.81 | $2.20 | $2.25 | $1.81 | $1.99 | $1.85 | $1.52 | $2.29 |
| Weighted Avg Shares (Basic) | 172.6M | 126.9M | 109.7M | 109.4M | 109.3M | 109.1M | 108.9M | 108.9M | 108.7M | 108.1M |
| Weighted Avg Shares (Diluted) | 173.0M | 126.9M | 110.0M | 109.8M | 109.6M | 109.4M | 109.4M | 109.1M | 108.9M | 108.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $10.09 today, the market must believe free cash flow compounds 15.8%/yr for a decade (off $101M normalized FCF).
The market's 15.8% is more optimistic than its 9-yr track record.
2-stage DCF · 0.17B shares · net debt $1.9B
mean -11.2% · volatility σ 76% · implied rate exceeded in 3/7 yrs
Central path = implied 15.8%/yr growth; shaded band = ±1σ (76%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $50M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 22th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 27.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating Income | 11.7 | 12.1 | 12.1 | 13.5 | 8.2 | 8.4 | -53.0 | 7.6 |
| Income Tax | 1.8 | 1.8 | 1.6 | 2.2 | 1.1 | 1.1 | -14.6 | 1.3 |
| Net Income | 7.1 | 7.6 | 7.7 | 8.6 | 7.0 | 6.1 | -44.3 | 4.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HE: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.