מכפיל EV/EBITDA: HEI (HE)

Hawaiian Electric (HE) is facing a liquidity shortage due to litigation and grid repair costs. Its asset base relies on Hawaii's power plants and cable lines, which require upgrading. The market trend based on the EV/EBITDA metric is currently at 6.50. Profit stability is guaranteed by the utility operator's monopoly status and its own banking unit, which ensures a steady inflow of funds.

The EV/EBITDA multiple is calculated as the ratio of enterprise value, including net debt, to earnings before interest, taxes, depreciation, and amortization. This metric determines the payback period of assets by neutralizing the impact of debt load and tax regimes. For the monopolist Hawaiian Electric (HE), which operates with regulated tariffs, the business's EV/EBITDA multiple reflects the market valuation of stable cash flows from power supply and the banking sector.