Fair Value and Profit Drivers
Our fair value estimate is $13 per share.
Our estimate assumes $2.5 billion pretax unrecovered losses related to the Maui wildfires. Changing our pretax liability assumption by $1 billion would change our fair value estimate by $2.50 per share, assuming regulators approve no rate recovery for losses. Lost-value estimates have been as high as $5.5 billion, in which case we expect there would be little or no value to the electric utility if Hawaiian is found responsible for a substantial amount of those losses. We assume the bank is unaffected by the wildfires with no changes to the bank's underlying business.
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