Ormat Technologies (ORA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ormat Technologies

NYSE•Utilities•Utilities - Renewable

$98.05+6.15(0.07%)Market open

Market Cap

$5.98B

P/E

47.3x

P/S

5.0x

P/B

2.3x

Ormat Technologies, Inc. engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, France, Indonesia, the Philippines, and internationally. It operates through three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation; and provides services relating to the engineering, procurement, and construction of geothermal and recovered energy-based power plants. The Energy Storage segment owns and operates grid-connected, stand alone In Front of the Meter (IFM) battery energy storage BESS facilities, which provide capacity, energy, and ancillary services directly to the electric grid. The company serves contractors, geothermal plant owners and operators, interstate natural gas pipeline owners and operators, gas processing plant owners and operators, cement plant owners and operators, and biomass facilities owners and operators, as well as other companies engaged in energy-intensive industrial processes. Ormat Technologies, Inc. was founded in 1965 and is headquartered in Reno, Nevada.

How this company scores

AverageMetricSide Score: 44/100

Strongest: Growth (18/25); weakest: Cash & Earnings Quality (1/25).

Profitability10/25

Growth18/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality1/25

Strengths

Growing revenueStrong marginsInterest easily coveredConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 47.3x5y range 29.3x – 73.7x

Currently near its 20-quarter median.

P/S · 5.0x5y range 4.5x – 6.9x

Currently near its 20-quarter median.

P/B · 2.3x5y range 1.7x – 2.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 14.2% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $5.98B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.19B
Q. Revenue: $258.76M
TTM EBITDA: $505.71M
TTM Op. Income: $197.45M
Q. Op. Income: $34.20M
TTM Net Income: $126.64M
Q. Net Income: $27.09M
EPS: $0.44
Shares Out.: $61.48M

$1.19B in TTM revenue grew 31.1% YoY, reaching $258.76M last quarter. TTM EBITDA of $505.71M and TTM operating income of $197.45M show growth is flowing through to the bottom line. TTM net income of $126.64M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 44.0%
Op. Margin: 13.2%
Net Margin: 10.5%

Op. margin of 13.2% is down 1.9% YoY — costs are rising relative to revenue. Net margin at 10.5% Over the past year, operating margin is down 12% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 47.3x
P/S Ratio: 5.0x
P/B Ratio: 2.3x

At 47.3x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 5.0x and P/B of 2.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $6.79B
Cash: $513.75M
Long-Term Debt: N/A
Book Value: $2.60B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $50.61M
TTM Free Cash Flow: $-264.77M
FCF Margin: -22.3%
FCF / Net Income: -2.1

TTM FCF of $-264.77M on $50.61M in operating cash flow. The FCF / Net Income ratio of -2.1x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 130% — a weakening trend.