ORA

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Ormat Technologies, Inc.

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Key Metrics

Previous Close: $110.32
52-Week Range: $89.08 – $146.39
Market Cap: $6.66B
P/E (TTM): 53.09
EPS (TTM): 2.04
Dividend Yield: 0.44%

Advanced Metrics

Price/Book: 2.56
PEG Ratio: 5.52
Return on Equity: 4.78%
Return on Assets: 2.04%
Gross Margin: 27.93%
Operating Margin: 13.60%
Profit Margin: 10.66%
Current Ratio: 1.05
Debt/Equity: 1.24
Total Debt: $3.41B
Free Cash Flow: $-318.10M
Revenue Growth: 10.60%
Earnings Growth: -6.50%
Enterprise Value: $9.70B

ORA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$734.16M	$829.42M	$879.65M	$989.54M
Cost of Revenue	$465.33M	$565.41M	$607.03M	$716.86M
Gross Profit	$268.82M	$264.02M	$272.62M	$272.69M
Research & Development	$5.08M	$7.21M	$6.50M	$6.30M
Selling, General & Admin	$77.47M	$86.48M	$97.81M	$98.49M
Operating Expenses	$82.55M	$93.70M	$94.94M	$89.95M
Operating Income	$186.28M	$170.32M	$177.68M	$182.74M
EBITDA	$382.14M	$462.76M	$512.27M	$539.72M
Pretax Income	$95.61M	$139.09M	$115.38M	$105.75M
Income Tax	$14.74M	$5.98M	-$16.29M	-$20.28M
Net Income	$65.84M	$124.40M	$123.73M	$123.90M
Diluted EPS	1.17	2.08	2.04	2.02
Diluted Shares	56.50M	59.76M	60.79M	61.36M

ORA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$95.87M	$195.81M	$94.39M	$147.45M
Receivables	$177.64M	$271.60M	$244.09M	$231.49M
Inventory	$22.83M	$45.04M	$38.09M	$45.27M
Current Assets	$456.72M	$646.00M	$547.12M	$597.77M
Total Assets	$4.61B	$5.21B	$5.67B	$6.25B
Current Liabilities	$343.91M	$537.01M	$598.08M	$738.39M
Long-Term Debt	$1.84B	$1.79B	$2.09B	$2.33B
Total Debt	$2.05B	$2.12B	$2.45B	$2.86B
Total Liabilities	$2.58B	$2.76B	$3.11B	$3.56B
Retained Earnings	$623.91M	$719.89M	$814.52M	$909.34M
Shareholders' Equity	$1.87B	$2.32B	$2.43B	$2.54B
Working Capital	$112.81M	$108.99M	-$50.96M	-$140.62M
Net Debt	$1.93B	$1.89B	$2.33B	$2.67B

ORA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$280.97M	$309.40M	$410.92M	$335.10M
Capital Expenditure	-$563.48M	-$618.38M	-$487.68M	-$619.78M
Free Cash Flow	-$282.50M	-$308.98M	-$76.76M	-$284.68M
Depreciation & Amortisation	$198.79M	$224.80M	$262.86M	$292.12M
Stock-Based Compensation	$11.65M	$15.48M	$20.20M	$19.39M
Investing Cash Flow	-$523.41M	-$628.34M	-$780.25M	-$726.43M
Financing Cash Flow	$126.27M	$379.96M	$287.92M	$465.75M
Dividends Paid	-$27.14M	-$28.41M	-$29.11M	-$29.07M
Share Repurchases	-$17.96M	$0.00	$0.00	—
Net Change in Cash	-$116.16M	$61.02M	-$81.42M	$74.41M

ORA Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$229.76M	$234.02M	$249.73M	$276.04M	$403.91M
Cost of Revenue	$156.84M	$177.12M	$185.69M	$197.21M	$283.54M
Gross Profit	$72.93M	$56.90M	$64.04M	$78.83M	$120.37M
Research & Development	$2.54M	$1.44M	$1.28M	$1.04M	$1.13M
Selling, General & Admin	$22.08M	$24.16M	$25.07M	$27.18M	$32.91M
Operating Expenses	$21.50M	$21.33M	$23.23M	$23.90M	$29.92M
Operating Income	$51.43M	$35.57M	$40.81M	$54.93M	$90.45M
EBITDA	$141.86M	$128.67M	$130.63M	$138.57M	$149.99M
Pretax Income	$37.61M	$21.96M	$19.97M	$26.21M	$28.63M
Income Tax	-$3.79M	-$5.47M	-$4.28M	-$6.74M	-$15.47M
Net Income	$40.36M	$28.05M	$24.14M	$31.35M	$44.07M
Diluted EPS	0.66	0.46	0.39	0.50	0.71
Diluted Shares	60.84M	61.02M	61.25M	62.34M	61.98M

ORA Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$112.70M	$88.49M	$79.56M	$147.45M	$654.64M
Receivables	$240.02M	$206.43M	$211.94M	$231.49M	$237.92M
Inventory	$42.11M	$44.91M	$44.60M	$45.27M	$45.56M
Current Assets	$600.85M	$508.91M	$504.71M	$597.77M	$1.08B
Total Assets	$5.84B	$6.02B	$6.09B	$6.25B	$6.77B
Current Liabilities	$619.22M	$730.68M	$654.84M	$738.39M	$1.01B
Long-Term Debt	$2.20B	$2.22B	$2.29B	$2.33B	$2.56B
Total Debt	$2.59B	$2.73B	$2.75B	$2.86B	$3.41B
Total Liabilities	$3.24B	$3.39B	$3.44B	$3.56B	$4.05B
Retained Earnings	$847.61M	$868.37M	$885.23M	$909.34M	$945.90M
Shareholders' Equity	$2.46B	$2.49B	$2.51B	$2.54B	$2.57B
Working Capital	-$18.37M	-$221.77M	-$150.12M	-$140.62M	$69.53M
Net Debt	$2.45B	$2.61B	$2.64B	$2.67B	$2.71B

ORA Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$88.01M	$96.90M	$45.15M	$105.04M	$78.58M
Capital Expenditure	-$192.60M	-$134.82M	-$147.27M	-$145.08M	-$113.79M
Free Cash Flow	-$104.59M	-$37.93M	-$102.11M	-$40.04M	-$35.21M
Depreciation & Amortisation	$69.78M	$70.03M	$74.98M	$77.33M	$76.36M
Stock-Based Compensation	$4.91M	$4.62M	$4.94M	$4.92M	$4.72M
Investing Cash Flow	-$207.95M	-$224.48M	-$147.37M	-$146.64M	-$124.49M
Financing Cash Flow	$138.85M	$108.08M	$102.15M	$116.67M	$528.65M
Dividends Paid	-$7.27M	-$7.28M	-$7.28M	-$7.24M	-$7.51M
Share Repurchases	$0.00	—	—	—	-$24.39M
Net Change in Cash	$18.91M	-$19.50M	-$66.00K	$75.07M	$482.74M

Market Snapshot

About

Ormat Technologies is a leading geothermal energy company that develops, builds, owns, and operates geothermal and recovered energy-based power plants worldwide. The company also designs and manufactures equipment for geothermal power generation and remote power units, providing clean and renewable energy solutions.