What is Ormat Tech's earnings per share (EPS)?

Ormat Tech (ORA) reported diluted earnings per share of $2.02 for fiscal year 2025. This represents a -1.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ormat Tech Financials

ORA

Trailing 12 months to June 30, 2026

Revenue $1.2B +31.1% YoY

Net Income $129.7M -6.5% YoY

EPS (Diluted) $2.04 -5.1% YoY

Free Cash Flow -$264.8M -130.3% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Ormat Tech (ORA) reported $1.2B in revenue over the twelve months to Jun 30, 2026, up 31.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ORA FY2025 2026-08-06

Ormat’s asset-heavy growth model keeps revenue rising, but reinvestment needs stop operating cash from turning into free cash.

From FY2023 to FY2025, EBITDA rose by about 17.9% while operating income stayed around $170M; that gap implies much of the EBITDA improvement came from a larger depreciating asset base rather than a similar lift in underlying operating profitability. The same buildout left FY2025 free cash flow at -$285M despite $335M of operating cash flow, so expansion is still consuming cash after the business generates it.

FY2025 revenue reached $990M, yet gross profit dollars were nearly unchanged from FY2023, which means recent sales growth has not carried the same gross earning power as earlier revenue. The drop in operating margin from 20.1% to 17.1% reinforces that added volume is arriving with thinner incremental economics, not clear fixed-cost absorption.

Because FY2025 capital spending of $620M exceeded operating cash flow of $335M, the balance sheet has been doing part of the funding work. Long-term debt climbed to $2.66B as the current ratio slipped to 0.8x, a sign that liquidity has tightened even though the company remains able to produce operating cash.

Financial Health Signals

Financial Health Score 43/100

Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Ormat Tech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

Altman Z-Score Distress

1.50

Ormat Tech scores 1.50, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($6.4B) relative to total liabilities ($3.6B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Ormat Tech passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

2.64x

For every $1 of reported earnings, Ormat Tech generates $2.64 in operating cash flow ($335.1M OCF vs $127.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.19x

Ormat Tech earns $1.19 in operating income for every $1 of interest expense ($169.2M vs $141.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$989.5M

YoY+12.5%

5Y CAGR+7.0%

10Y CAGR+5.2%

Ormat Tech generated $989.5M in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.

EBITDA

$461.3M

YoY+6.0%

5Y CAGR+4.5%

10Y CAGR+5.5%

Ormat Tech's EBITDA was $461.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.0% from the prior year.

Net Income

$127.0M

YoY-3.2%

5Y CAGR+8.2%

10Y CAGR+0.5%

Ormat Tech reported $127.0M in net income in fiscal year 2025. This represents a decrease of 3.2% from the prior year.

EPS (Diluted)

$2.02

YoY-1.0%

5Y CAGR+4.1%

10Y CAGR-1.9%

Ormat Tech earned $2.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$284.7M

YoY-270.9%

Ormat Tech recorded an outflow of $284.7M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 270.9% from the prior year.

Cash & Debt

$147.4M

YoY+56.2%

5Y CAGR-19.9%

10Y CAGR-2.3%

Ormat Tech held $147.4M in cash against $2.7B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.48

YoY0.0%

5Y CAGR+1.8%

10Y CAGR+6.3%

Ormat Tech paid $0.48 per share in dividends in fiscal year 2025. That is unchanged from the prior year.

Shares Outstanding

61M

YoY+0.6%

5Y CAGR+1.7%

10Y CAGR+2.2%

Ormat Tech had 61M shares outstanding in fiscal year 2025. This represents an increase of 0.6% from the prior year.

Margins & Returns

Gross Margin

27.6%

YoY-3.4pp

5Y CAGR-11.6pp

10Y CAGR-9.1pp

Ormat Tech's gross margin was 27.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.4 percentage points from the prior year.

Operating Margin

17.1%

YoY-2.5pp

5Y CAGR-13.2pp

10Y CAGR-10.5pp

Ormat Tech's operating margin was 17.1% in fiscal year 2025, reflecting core business profitability. This is down 2.5 percentage points from the prior year.

Net Margin

12.8%

YoY-2.1pp

5Y CAGR+0.7pp

10Y CAGR-7.4pp

Ormat Tech's net profit margin was 12.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.1 percentage points from the prior year.

Return on Equity

5.0%

YoY-0.4pp

5Y CAGR+0.3pp

10Y CAGR-7.1pp

Ormat Tech's ROE was 5.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$6.3M

YoY-3.0%

5Y CAGR+3.2%

10Y CAGR+13.5%

Ormat Tech invested $6.3M in research and development in fiscal year 2025. This represents a decrease of 3.0% from the prior year.

Capital Expenditures

$619.8M

YoY+27.1%

5Y CAGR+14.1%

10Y CAGR+15.1%

Ormat Tech invested $619.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 27.1% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

ORA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ORA quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$1.2B	$989.5M+12.5%	$879.7M+6.1%	$829.4M+13.0%	$734.2M+10.7%	$663.1M-6.0%	$705.3M-5.5%	$746.0M+3.7%	$719.3M+3.8%	$692.8M+4.6%	$662.6M+11.4%	$594.6M+6.3%	$559.5M+4.9%	$533.2M+6.3%	$501.8M+17.9%	$425.5M
Cost of Revenue	$856.5M	$716.9M+18.1%	$607.0M+7.4%	$565.4M+21.5%	$465.3M+16.7%	$398.7M-7.1%	$429.1M-10.0%	$476.7M+6.2%	$448.8M+5.8%	$424.4M+8.3%	$391.8M+4.1%	$376.4M+5.8%	$355.8M-4.7%	$373.4M+0.2%	$372.8M+19.6%	$311.7M
Gross Profit	$331.9M	$272.7M0.0%	$272.6M+3.3%	$264.0M-1.8%	$268.8M+1.7%	$264.3M-4.3%	$276.3M+2.6%	$269.3M-0.4%	$270.4M+0.7%	$268.5M-0.9%	$270.8M+24.1%	$218.3M+7.1%	$203.8M+27.5%	$159.8M+23.9%	$129.0M+13.4%	$113.8M
R&D Expenses	$5.0M	$6.3M-3.0%	$6.5M-9.9%	$7.2M+42.1%	$5.1M+23.0%	$4.1M-23.5%	$5.4M+16.1%	$4.6M+11.1%	$4.2M+32.5%	$3.2M+14.3%	$2.8M+55.2%	$1.8M+127.3%	$783K-84.2%	$5.0M-18.7%	$6.1M-30.6%	$8.8M
SG&A Expenses	$90.3M	$79.6M-0.7%	$80.1M+17.5%	$68.2M+11.3%	$61.3M-19.3%	$75.9M+26.0%	$60.2M+7.9%	$55.8M+16.9%	$47.8M+11.4%	$42.9M-8.2%	$46.7M+34.3%	$34.8M+21.6%	$28.6M-2.0%	$29.2M+4.0%	$28.1M+2.6%	$27.4M
Operating Income	$197.4M	$169.2M-1.9%	$172.5M+3.5%	$166.6M+9.0%	$152.8M-9.8%	$169.4M-20.9%	$214.0M+10.4%	$193.8M+4.7%	$185.1M-9.7%	$205.0M+1.6%	$201.9M+23.1%	$164.1M+14.3%	$143.5M+48.0%	$97.0M+160.6%	-$159.9M-359.8%	$61.6M
Interest Expense	$159.6M	$141.9M+5.8%	$134.0M+35.5%	$98.9M+12.7%	$87.7M+6.2%	$82.7M+6.0%	$78.0M-3.0%	$80.4M+13.3%	$70.9M+31.0%	$54.1M-19.7%	$67.4M-7.1%	$72.6M-14.3%	$84.7M+14.7%	$73.8M+15.2%	$64.1M-7.8%	$69.5M
Income Tax	-$36.2M	-$20.3M-24.5%	-$16.3M-372.3%	$6.0M-59.4%	$14.7M-40.7%	$24.9M-62.9%	$67.0M+46.9%	$45.6M+31.3%	$34.7M+60.3%	$21.7M-41.5%	$37.1M+330.8%	-$16.1M-158.2%	$27.6M+103.7%	$13.6M+641.8%	$1.8M-96.2%	$48.2M
Net Income	$129.7M	$127.0M-3.2%	$131.2M-1.4%	$133.1M+71.1%	$77.8M+2.3%	$76.1M-11.0%	$85.5M-3.0%	$88.1M-10.1%	$98.0M-26.0%	$132.4M+49.3%	$88.7M-26.3%	$120.4M+122.2%	$54.2M+31.4%	$41.2M+119.4%	-$213.0M-394.8%	-$43.1M
EPS (Diluted)	$2.04	$2.02-1.0%	$2.04-1.9%	$2.08+77.8%	$1.17+6.4%	$1.10-33.3%	$1.65-4.1%	$1.72-10.4%	$1.92-26.4%	$2.61+47.5%	$1.77-27.8%	$2.45+107.6%	$1.18+29.7%	$0.91+119.4%	-$4.69-393.7%	-$0.95

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$258.8M-35.9%	$403.9M+46.3%	$276.0M+10.5%	$249.7M+6.7%	$234.0M+1.9%	$229.8M-0.4%	$230.7M+9.0%	$211.8M
Cost of Revenue	$190.1M-33.0%	$283.5M+43.8%	$197.2M+6.2%	$185.7M+4.8%	$177.1M+12.9%	$156.8M-0.2%	$157.2M+2.8%	$152.9M
Gross Profit	$68.7M-42.9%	$120.4M+52.7%	$78.8M+23.1%	$64.0M+12.6%	$56.9M-22.0%	$72.9M-0.9%	$73.6M+25.0%	$58.9M
R&D Expenses	$1.5M+32.6%	$1.1M+9.0%	$1.0M-19.1%	$1.3M-10.8%	$1.4M-43.4%	$2.5M+82.7%	$1.4M-23.4%	$1.8M
SG&A Expenses	$21.1M-22.8%	$27.3M+25.8%	$21.7M+7.7%	$20.2M+2.0%	$19.8M+10.5%	$17.9M-8.5%	$19.6M-14.8%	$23.0M
Operating Income	$34.2M-57.4%	$80.3M+88.6%	$42.6M+5.3%	$40.4M+14.5%	$35.3M-30.6%	$50.9M+3.7%	$49.1M+37.6%	$35.7M
Interest Expense	$43.9M-2.3%	$45.0M+28.5%	$35.0M-1.8%	$35.7M-2.7%	$36.7M+6.4%	$34.5M-0.2%	$34.5M-0.9%	$34.8M
Income Tax	-$9.7M+37.5%	-$15.5M-129.6%	-$6.7M-57.3%	-$4.3M+21.6%	-$5.5M-44.0%	-$3.8M+67.8%	-$11.8M-886.7%	-$1.2M
Net Income	$27.1M-38.5%	$44.1M+27.9%	$34.4M+42.7%	$24.1M-13.9%	$28.0M-30.5%	$40.4M-16.5%	$48.3M+118.9%	$22.1M
EPS (Diluted)	$0.43-39.4%	$0.71+39.2%	$0.51+30.8%	$0.39-15.2%	$0.46-30.3%	$0.66-1.5%	$0.67+86.1%	$0.36

ORA Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ORA quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$6.2B+10.2%	$5.7B+8.8%	$5.2B+12.9%	$4.6B+4.2%	$4.4B+13.8%	$3.9B+19.6%	$3.3B+4.1%	$3.1B+19.0%	$2.6B+6.6%	$2.5B+8.2%	$2.3B+7.2%	$2.1B-1.8%	$2.2B+3.4%	$2.1B-9.8%	$2.3B
Current Assets	$597.8M+9.3%	$547.1M-15.3%	$646.0M+41.4%	$456.7M-24.1%	$601.9M-22.7%	$779.2M+87.4%	$415.7M-12.1%	$473.1M+47.1%	$321.6M-32.0%	$472.8M+26.0%	$375.1M+37.0%	$273.9M-5.3%	$289.3M+4.7%	$276.2M-5.5%	$292.2M
Cash & Equivalents	$147.4M+56.2%	$94.4M-51.8%	$195.8M+104.2%	$95.9M-59.9%	$239.3M-46.6%	$448.3M+529.8%	$71.2M-28.0%	$98.8M+106.6%	$47.8M-79.2%	$230.2M+23.8%	$185.9M+362.1%	$40.2M-29.9%	$57.4M-13.9%	$66.6M-33.3%	$99.9M
Inventory	$45.3M+18.8%	$38.1M-15.4%	$45.0M+97.3%	$22.8M-19.7%	$28.4M-19.5%	$35.3M+1.1%	$34.9M-22.4%	$45.0M+130.3%	$19.6M+62.9%	$12.0M-33.6%	$18.1M+6.8%	$16.9M-24.0%	$22.3M+7.8%	$20.7M+64.8%	$12.5M
Accounts Receivable	$164.8M+0.4%	$164.1M-21.4%	$208.7M+62.0%	$128.8M+4.8%	$122.9M-17.6%	$149.2M-3.5%	$154.5M+12.3%	$137.6M+24.6%	$110.4M+36.6%	$80.8M+46.1%	$55.3M+13.8%	$48.6M-49.0%	$95.4M+71.3%	$55.7M+8.6%	$51.3M
Goodwill	$168.2M+11.4%	$151.0M+66.8%	$90.5M+0.2%	$90.3M+0.4%	$90.0M+266.2%	$24.6M+22.0%	$20.1M+1.0%	$19.9M-5.2%	$21.0M+216.3%	$6.7M	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.6B+14.5%	$3.1B+12.7%	$2.8B+6.8%	$2.6B+6.7%	$2.4B+24.8%	$1.9B+12.3%	$1.7B+3.5%	$1.7B+26.2%	$1.3B+2.6%	$1.3B+8.3%	$1.2B-10.8%	$1.3B-5.6%	$1.4B+1.6%	$1.4B-1.1%	$1.4B
Current Liabilities	$738.4M+23.5%	$598.1M+11.4%	$537.0M+56.1%	$343.9M-36.8%	$544.2M+118.8%	$248.6M-34.0%	$376.5M+4.0%	$361.9M+27.7%	$283.3M+49.7%	$189.3M+0.4%	$188.5M-8.4%	$205.8M+10.4%	$186.3M-12.2%	$212.1M+9.5%	$193.8M
Long-Term Debt	$2.7B+13.5%	$2.3B+17.9%	$2.0B-3.1%	$2.1B+6.6%	$1.9B+30.6%	$1.5B+26.2%	$1.2B+3.4%	$1.1B+28.7%	$877.1M-8.3%	$956.5M+3.9%	$920.5M-8.1%	$1.0B+3.7%	$965.8M+0.9%	$957.3M+18.0%	$811.0M
Total Equity	$2.5B+4.9%	$2.4B+4.7%	$2.3B+24.0%	$1.9B+0.7%	$1.9B+2.7%	$1.8B+29.7%	$1.4B+5.5%	$1.3B+9.0%	$1.2B+12.5%	$1.1B+8.4%	$993.4M+27.8%	$777.5M+6.1%	$732.7M+5.3%	$695.6M-23.3%	$906.6M
Retained Earnings	$909.3M+11.6%	$814.5M+13.1%	$719.9M+15.4%	$623.9M+6.6%	$585.2M+6.4%	$550.1M+12.8%	$487.9M+15.5%	$422.2M+29.0%	$327.3M+52.0%	$215.4M+41.4%	$152.3M+241.0%	$44.7M+1546.6%	-$3.1M+93.0%	-$44.3M-125.7%	$172.3M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$6.8B+0.2%	$6.8B+8.4%	$6.2B+2.5%	$6.1B+1.3%	$6.0B+3.0%	$5.8B+3.0%	$5.7B+1.4%	$5.6B
Current Assets	$1.0B-5.7%	$1.1B+81.0%	$597.8M+18.4%	$504.7M-0.8%	$508.9M-15.3%	$600.9M+9.8%	$547.1M+1.8%	$537.5M
Cash & Equivalents	$513.7M-21.5%	$654.6M+344.0%	$147.4M+85.3%	$79.6M-10.1%	$88.5M-21.5%	$112.7M+19.4%	$94.4M+7.1%	$88.1M
Inventory	$47.3M+3.8%	$45.6M+0.6%	$45.3M+1.5%	$44.6M-0.7%	$44.9M+6.6%	$42.1M+10.5%	$38.1M-19.7%	$47.4M
Accounts Receivable	$172.6M+1.0%	$170.9M+3.7%	$164.8M+9.8%	$150.1M-2.7%	$154.3M-11.1%	$173.6M+5.8%	$164.1M+7.2%	$153.1M
Goodwill	$168.0M0.0%	$168.1M-0.1%	$168.2M+0.2%	$167.9M-1.5%	$170.4M+12.6%	$151.3M+0.2%	$151.0M-0.2%	$151.3M
Total Liabilities	$4.0B-0.2%	$4.1B+14.0%	$3.6B+3.3%	$3.4B+1.6%	$3.4B+4.4%	$3.2B+4.4%	$3.1B+1.3%	$3.1B
Current Liabilities	$975.9M-3.6%	$1.0B+37.2%	$738.4M+12.8%	$654.8M-10.4%	$730.7M+18.0%	$619.2M+3.5%	$598.1M+5.6%	$566.3M
Long-Term Debt	N/A	N/A	$2.7B	N/A	N/A	N/A	$2.3B	N/A
Total Equity	$2.6B+1.0%	$2.6B+1.1%	$2.5B+1.4%	$2.5B+0.7%	$2.5B+1.3%	$2.5B+1.5%	$2.4B+1.5%	$2.4B
Retained Earnings	$965.8M+2.1%	$945.9M+4.0%	$909.3M+2.7%	$885.2M+1.9%	$868.4M+2.4%	$847.6M+4.1%	$814.5M+4.3%	$781.0M

ORA Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ORA quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$279.4M	$335.1M-18.5%	$410.9M+32.8%	$309.4M+10.1%	$281.0M+8.6%	$258.8M-2.3%	$265.0M+12.1%	$236.5M+62.2%	$145.8M-40.6%	$245.6M+54.2%	$159.3M-16.2%	$190.0M-10.9%	$213.2M+145.8%	$86.8M-3.0%	$89.5M-32.6%	$132.7M
Capital Expenditures	$544.2M	$619.8M+27.1%	$487.7M-21.1%	$618.4M+9.7%	$563.5M+34.4%	$419.3M+30.7%	$320.7M+14.6%	$280.0M+8.3%	$258.5M-0.3%	$259.2M+70.6%	$151.9M-0.3%	$152.4M-4.0%	$158.8M-22.4%	$204.6M-12.2%	$233.0M-13.6%	$269.7M
Free Cash Flow	-$264.8M	-$284.7M-270.9%	-$76.8M+75.2%	-$309.0M-9.4%	-$282.5M-76.1%	-$160.4M-187.9%	-$55.7M-28.1%	-$43.5M+61.4%	-$112.7M-725.1%	-$13.7M-285.7%	$7.4M-80.4%	$37.6M-31.0%	$54.5M+146.2%	-$117.9M+17.9%	-$143.5M-4.8%	-$136.9M
Investing Cash Flow	-$556.6M	-$726.4M+6.9%	-$780.3M-24.2%	-$628.3M-20.0%	-$523.4M+18.0%	-$638.2M-65.3%	-$386.0M-51.6%	-$254.5M+25.7%	-$342.4M+0.9%	-$345.5M-98.8%	-$173.8M-91.0%	-$91.0M+29.6%	-$129.2M+17.8%	-$157.2M-55.9%	-$100.8M+70.4%	-$341.0M
Financing Cash Flow	$730.4M	$465.7M+61.8%	$287.9M-24.2%	$380.0M+200.9%	$126.3M-32.3%	$186.4M-63.0%	$503.5M+8833.4%	-$5.8M-102.3%	$251.1M+470.0%	-$67.9M-255.9%	$43.5M-6.6%	$46.6M+146.1%	-$101.2M-265.6%	$61.1M+378.6%	-$21.9M-109.7%	$225.3M
Dividends Paid	$29.2M	$29.1M-0.1%	$29.1M+2.5%	$28.4M+4.8%	$27.1M+0.4%	$27.0M+20.0%	$22.5M+0.4%	$22.4M-16.4%	$26.8M+30.7%	$20.5M-20.2%	$25.7M+102.1%	$12.7M+33.1%	$9.6M+165.4%	$3.6M-1.0%	$3.6M-38.6%	$5.9M
Share Buybacks	N/A	N/A	$0	$0-100.0%	$18.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$50.6M-35.6%	$78.6M-25.2%	$105.0M+132.6%	$45.2M-53.4%	$96.9M+10.1%	$88.0M-44.5%	$158.6M+49.1%	$106.4M
Capital Expenditures	$138.0M+21.3%	$113.8M-21.6%	$145.1M-1.5%	$147.3M+9.2%	$134.8M-30.0%	$192.6M+50.8%	$127.7M+16.4%	$109.7M
Free Cash Flow	-$87.4M-148.3%	-$35.2M+12.1%	-$40.0M+60.8%	-$102.1M-169.2%	-$37.9M+63.7%	-$104.6M-438.7%	$30.9M+1030.2%	-$3.3M
Investing Cash Flow	-$138.1M-11.0%	-$124.5M+15.1%	-$146.6M+0.5%	-$147.4M+34.3%	-$224.5M-7.9%	-$207.9M-53.9%	-$135.1M-12.5%	-$120.2M
Financing Cash Flow	-$17.1M-103.2%	$528.7M+353.1%	$116.7M+14.2%	$102.2M-5.5%	$108.1M-22.2%	$138.9M+2259.0%	$5.9M-78.1%	$26.8M
Dividends Paid	$7.2M-3.9%	$7.5M+3.6%	$7.2M-0.5%	$7.3M-0.1%	$7.3M+0.1%	$7.3M+0.2%	$7.3M0.0%	$7.3M
Share Buybacks	-$5K-100.0%	$24.4M	N/A	N/A	$0	$0	N/A	N/A

ORA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

ORA quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	27.6%-3.4pp	31.0%-0.8pp	31.8%-4.8pp	36.6%-3.2pp	39.9%+0.7pp	39.2%+3.1pp	36.1%-1.5pp	37.6%-1.2pp	38.8%-2.1pp	40.9%+4.2pp	36.7%+0.3pp	36.4%+6.5pp	30.0%+4.3pp	25.7%-1.0pp	26.7%
Operating Margin	17.1%-2.5pp	19.6%-0.5pp	20.1%-0.7pp	20.8%-4.7pp	25.5%-4.8pp	30.3%+4.4pp	26.0%+0.2pp	25.7%-3.8pp	29.6%-0.9pp	30.5%+2.9pp	27.6%+1.9pp	25.7%+7.5pp	18.2%+50.0pp	-31.9%-46.3pp	14.5%
Net Margin	12.8%-2.1pp	14.9%-1.1pp	16.1%+5.5pp	10.6%-0.9pp	11.5%-0.7pp	12.1%+0.3pp	11.8%-1.8pp	13.6%-5.5pp	19.1%+5.7pp	13.4%-6.9pp	20.2%+10.6pp	9.7%+2.0pp	7.7%+50.2pp	-42.4%-32.3pp	-10.1%
Return on Equity	5.0%-0.4pp	5.4%-0.3pp	5.8%+1.6pp	4.2%+0.1pp	4.1%-0.6pp	4.7%-1.6pp	6.3%-1.1pp	7.4%-3.5pp	10.9%+2.7pp	8.2%-3.9pp	12.1%+5.2pp	7.0%+1.3pp	5.6%+36.3pp	-30.6%-25.9pp	-4.8%
Return on Assets	2.0%-0.3pp	2.3%-0.2pp	2.6%+0.9pp	1.7%0.0pp	1.7%-0.5pp	2.2%-0.5pp	2.7%-0.4pp	3.1%-1.9pp	5.1%+1.5pp	3.6%-1.7pp	5.3%+2.7pp	2.5%+0.6pp	1.9%+12.1pp	-10.2%-8.3pp	-1.9%
Current Ratio	0.81-0.1x	0.91-0.3x	1.20-0.1x	1.33+0.2x	1.11-2.0x	3.13+2.0x	1.10-0.2x	1.31+0.2x	1.14-1.4x	2.50+0.5x	1.99+0.7x	1.33-0.2x	1.55+0.3x	1.30-0.2x	1.51
Debt-to-Equity	1.05+0.1x	0.97+0.1x	0.86-0.2x	1.10+0.1x	1.04+0.2x	0.820.0x	0.840.0x	0.86+0.1x	0.72-0.2x	0.890.0x	0.93-0.4x	1.290.0x	1.32-0.1x	1.38+0.5x	0.89
FCF Margin	-28.8%-20.0pp	-8.7%+28.5pp	-37.3%+1.2pp	-38.5%-14.3pp	-24.2%-16.3pp	-7.9%-2.1pp	-5.8%+9.8pp	-15.7%-13.7pp	-2.0%-3.1pp	1.1%-5.2pp	6.3%-3.4pp	9.7%+31.8pp	-22.1%+6.5pp	-28.6%+3.6pp	-32.2%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	26.6%-3.2pp	29.8%+1.2pp	28.6%+2.9pp	25.6%+1.3pp	24.3%-7.4pp	31.7%-0.1pp	31.9%+4.1pp	27.8%
Operating Margin	13.2%-6.6pp	19.9%+4.4pp	15.4%-0.8pp	16.2%+1.1pp	15.1%-7.1pp	22.2%+0.9pp	21.3%+4.4pp	16.8%
Net Margin	10.5%-0.4pp	10.9%-1.6pp	12.5%+2.8pp	9.7%-2.3pp	12.0%-5.6pp	17.6%-3.4pp	20.9%+10.5pp	10.4%
Return on Equity	1.0%-0.7pp	1.7%+0.4pp	1.4%+0.4pp	1.0%-0.2pp	1.1%-0.5pp	1.6%-0.3pp	2.0%+1.1pp	0.9%
Return on Assets	0.4%-0.2pp	0.7%+0.1pp	0.5%+0.1pp	0.4%-0.1pp	0.5%-0.2pp	0.7%-0.2pp	0.9%+0.5pp	0.4%
Current Ratio	1.050.0x	1.07+0.3x	0.810.0x	0.77+0.1x	0.70-0.3x	0.97+0.1x	0.910.0x	0.95
Debt-to-Equity	1.560.0x	1.58+0.5x	1.05-0.3x	1.370.0x	1.360.0x	1.32+0.4x	0.97-0.3x	1.28
FCF Margin	-33.8%-25.1pp	-8.7%+5.8pp	-14.5%+26.4pp	-40.9%-24.7pp	-16.2%+29.3pp	-45.5%-58.9pp	13.4%+14.9pp	-1.6%

Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Brookfield Renewable Corp BEPC

$6.1B

Clearway Energy CWEN

$6.7B

Enlight Renewabl ENLT

$11.0B

Renew Energy Global Plc RNW

$2.5B

Fluence Energy, Inc. FLNC

$1.6B

Where Ormat Tech Ranks

Frequently Asked Questions

What is Ormat Tech's annual revenue?

Ormat Tech (ORA) reported $989.5M in total revenue for fiscal year 2025. This represents a 12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ormat Tech's revenue growing?

Ormat Tech (ORA) revenue grew by 12.5% year-over-year, from $879.7M to $989.5M in fiscal year 2025.

Is Ormat Tech profitable?

Yes, Ormat Tech (ORA) reported a net income of $127.0M in fiscal year 2025, with a net profit margin of 12.8%.

What is Ormat Tech's EBITDA?

Ormat Tech (ORA) had EBITDA of $461.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Ormat Tech have?

As of fiscal year 2025, Ormat Tech (ORA) had $147.4M in cash and equivalents against $2.7B in long-term debt.

What is Ormat Tech's gross margin?

Ormat Tech (ORA) had a gross margin of 27.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ormat Tech's operating margin?

Ormat Tech (ORA) had an operating margin of 17.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ormat Tech's net profit margin?

Ormat Tech (ORA) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Ormat Tech pay dividends?

Yes, Ormat Tech (ORA) paid $0.48 per share in dividends during fiscal year 2025.

What is Ormat Tech's return on equity (ROE)?

Ormat Tech (ORA) has a return on equity of 5.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ormat Tech's free cash flow?

Ormat Tech (ORA) recorded an outflow of $284.7M in free cash flow during fiscal year 2025. This represents a -270.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ormat Tech's operating cash flow?

Ormat Tech (ORA) generated $335.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ormat Tech's total assets?

Ormat Tech (ORA) had $6.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ormat Tech's capital expenditures?

Ormat Tech (ORA) invested $619.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Ormat Tech spend on research and development?

Ormat Tech (ORA) invested $6.3M in research and development during fiscal year 2025.

How many shares does Ormat Tech have outstanding?

Ormat Tech (ORA) had 61M shares outstanding as of fiscal year 2025.

What is Ormat Tech's current ratio?

Ormat Tech (ORA) had a current ratio of 0.81 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Ormat Tech's debt-to-equity ratio?

Ormat Tech (ORA) had a debt-to-equity ratio of 1.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ormat Tech's return on assets (ROA)?

Ormat Tech (ORA) had a return on assets of 2.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ormat Tech's Altman Z-Score?

Ormat Tech (ORA) has an Altman Z-Score of 1.50, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Ormat Tech's Piotroski F-Score?

Ormat Tech (ORA) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ormat Tech's earnings high quality?

Ormat Tech (ORA) has an earnings quality ratio of 2.64x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ormat Tech cover its interest payments?

Ormat Tech (ORA) has an interest coverage ratio of 1.19x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ormat Tech?

Ormat Tech (ORA) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.