Ormat Technologies, Inc.

Utilities
Electric Utilities: Central
www.ormat.com

Earnings Score
Moat Score
Safety Score

Market Cap $4.77B
PE 40
Debt $469.11M
Cash $88.13M
EV $5.16B
FCF -$138.09M

Earnings

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Sales & Net Margins

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Earnings	$118.64M
EBIT	$198.04M
ROE	5%
ROA	4%
FCF	-$138.09M
Equity	$2.51B
Growth Stability	69%
PE	40.24
PEG	3.92
PB	1.9
P/FCF	-34.57
P/S	5.36
Price/Cash	0.02
Debt/Equity	0.19
Debt/FCF	-3.4
Net Margins	13%
Gross Margins	31%
Op. Margins	22%
Earnings CAGR	-4%
Sales Growth YoY	2%
Sales Growth QoQ	-1%
Sales CAGR	4%
FCF CAGR	-1%
Equity CAGR	11%
Earnings Stability	0.11
Earnings Growth YoY	-38%
Earnings Growth QoQ	-1%

Earnings CAGR 5Y	10%
Sales CAGR 5Y	5%
Equity CAGR 5Y	11%
Earnings CAGR 3Y	12%
Sales CAGR 3Y	12%
Equity CAGR 3Y	11%
Market Cap	$4.77B
Revenue	$890.25M
Dividend Yield	1%
Payout Ratio	25%
Assets	$5.59B
Total Debt	$469.11M
Cash	$88.13M
Shares Outstanding	60.44M
EV	5.16B
Earnings Score	5%
Moat Score	61%
Safety Score	63%
Final Score	43%
Working Capital	-28.84M
Current Ratio	0.95
Gross Profit	$277.51M
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-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 -4%

Stability 11%

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Ormat Technologies, Inc. Discounted Cash Flow

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

Years

Calculation mode

= -$1.3B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$138M	-$137M	-$136M	-$135M	-$133M	-$132M	-$131M	-$130M	-$129M	-$128M	-$127M	-$1.3B
DCF		-$124M	-$112M	-$101M	-$91M	-$82M	-$74M	-$67M	-$60M	-$54M	-$49M	-$488M
Value	-$1.3B

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	10%	20%	14%	22%	14%	12%	12%	9%	9%	15%	13%
ROA	-	8%	8%	9%	7%	7%	6%	4%	4%	5%	4%
ROE	-	11%	8%	12%	7%	6%	4%	3%	3%	5%	5%

Good Net Margins (12.78%)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	24.5	130.05	-67.98	-11.43	-26.85	-26.45	-12	-7.27	-6.44	-3.4
Debt over Equity	1.27	0.85	0.82	0.7	0.89	0.77	0.76	0.96	1.02	0.82	0.19
Growth Stability	-	-	-	100%	80%	76%	75%	69%	84%	100%	69%

Good Debt/FCF ratio (-3.4)

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 (0.19)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	6%	11%	5%	4%	4%	-5%	-6%	11%	13%	5%
Earnings YoY growth	-	121%	-21%	66%	-37%	-10%	-3%	-27%	6%	89%	10%
Equity YoY growth	-	38%	8%	13%	9%	5%	28%	3%	1%	21%	11%
FCF YoY growth	-	-31%	-80%	-286%	725%	-61%	28%	188%	76%	9%	-