Ormat Technologies, Inc.

Utilities
Electric Utilities: Central
www.ormat.com

Earnings Score
Moat Score
Safety Score

Market Cap $4.34B
PE 35
Debt $2.34B
Cash $94.40M
EV $6.59B
FCF -$76.76M

Earnings

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Sales & Net Margins

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Earnings	$123.73M
EBIT	$172.47M
ROE	5%
ROA	3%
FCF	-$76.76M
Equity	$2.55B
Growth Stability	69%
PE	35.11
PEG	2.66
PB	1.7
P/FCF	-56.59
P/S	4.94
Price/Cash	0.02
Debt/Equity	0.92
Debt/FCF	-30.55
Net Margins	14%
Gross Margins	31%
Op. Margins	20%
Earnings CAGR	-3%
Sales Growth YoY	-4%
Sales Growth QoQ	9%
Sales CAGR	4%
FCF CAGR	-1%
Equity CAGR	11%
Earnings Stability	0.05
Earnings Growth YoY	14%
Earnings Growth QoQ	85%

Earnings CAGR 5Y	13%
Sales CAGR 5Y	6%
Equity CAGR 5Y	11%
Earnings CAGR 3Y	11%
Sales CAGR 3Y	11%
Equity CAGR 3Y	11%
Market Cap	$4.34B
Revenue	$879.65M
Dividend Yield	1%
Payout Ratio	24%
Assets	$5.67B
Total Debt	$2.34B
Cash	$94.40M
Shares Outstanding	60.36M
EV	6.59B
Earnings Score	6%
Moat Score	60%
Safety Score	64%
Final Score	43%
Working Capital	-50.96M
Current Ratio	0.91
Gross Profit	$272.62M
Shares Growth 3y	4%
Equity Growth QoQ	1%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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Ormat Technologies derives approximately 80% of its revenue from building and operating geothermal plants and the rest from manufacturing geothermal and recovered energy equipment. Nearly two thirds of its capacity is in the United States, with the balance in Africa and Central America. Nearly all the plants have long-term contracts with local utilities.

SEC Filings

Direct access to Ormat Technologies, Inc. (ORA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Ormat Technologies, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ormat Technologies, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -3%

Stability 5%

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Ormat Technologies, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Ormat Technologies, Inc..

Years

Calculation mode

= -$726M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$77M	-$76M	-$75M	-$75M	-$74M	-$74M	-$73M	-$72M	-$72M	-$71M	-$71M	-$706M
DCF		-$69M	-$62M	-$56M	-$51M	-$46M	-$41M	-$37M	-$33M	-$30M	-$27M	-$272M
Value	-$726M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	20%	14%	22%	14%	12%	12%	9%	9%	15%	14%	14%
ROA	-	8%	9%	7%	7%	6%	4%	4%	5%	3%	3%
ROE	-	8%	12%	7%	6%	4%	3%	3%	5%	5%	5%

Good Net Margins (14.07%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	130.05	-67.98	-11.43	-26.85	-26.45	-12	-7.27	-6.44	-30.55	-30.55
Debt over Equity	0.85	0.82	0.7	0.89	0.77	0.76	0.96	1.02	0.82	0.92	0.92
Growth Stability	-	-	-	80%	76%	75%	69%	84%	100%	100%	69%

Good Debt/FCF ratio (-30.55)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.92)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (69%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	11%	5%	4%	4%	-5%	-6%	11%	13%	6%	6%
Earnings YoY growth	-	-21%	66%	-37%	-10%	-3%	-27%	6%	89%	-1%	13%
Equity YoY growth	-	8%	13%	9%	5%	28%	3%	1%	21%	5%	11%
FCF YoY growth	-	-80%	-286%	725%	-61%	28%	188%	76%	9%	-75%	-