Ormat Technologies, Inc. (ORA) Financial Ratios
24 years of historical data (2002–2025) · Utilities · Renewable Utilities
EV/EBITDA
↑
22.41
↑+27% vs avg
5yr avg: 17.64
30Y Low7.6·High26.7
P/FCF
N/A
—
5yr avg: N/A
30Y Low20.1·High48.4
P/B Ratio
↑
2.95
↑+39% vs avg
5yr avg: 2.12
30Y Low0.9·High4.5
ROE
↑
4.7%
↓+9% vs avg
5yr avg: 4.3%
30Y Low-26%·High43%
Debt/EBITDA
↑
6.08
+7% vs avg
5yr avg: 5.69
30Y Low2.9·High10.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ORA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Ormat Technologies, Inc. trades at 64.1x earnings, 19% above its 5-year average of 54.1x, sitting at the 85th percentile of its historical range. Compared to the Utilities sector median P/E of 19.1x, the stock trades at a premium of 235%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.0B | $6.8B | $4.1B | $4.5B | $4.9B | $4.5B | $4.7B | $3.8B | $2.7B | $3.2B | $2.7B |
| Enterprise Value | $10.5B | $9.4B | $6.5B | $6.4B | $6.8B | $6.2B | $5.7B | $5.0B | $3.8B | $4.1B | $3.4B |
| P/E Ratio → | 64.13 | 54.69 | 33.20 | 36.44 | 73.91 | 72.09 | 54.72 | 43.33 | 27.24 | 24.51 | 30.29 |
| P/S Ratio | 8.05 | 6.85 | 4.68 | 5.46 | 6.66 | 6.75 | 6.65 | 5.12 | 3.71 | 4.69 | 4.06 |
| P/B Ratio | 2.95 | 2.52 | 1.61 | 1.85 | 2.41 | 2.23 | 2.40 | 2.52 | 1.84 | 2.53 | 2.30 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | 365.53 |
| P/OCF | 23.76 | 20.23 | 10.02 | 14.64 | 17.39 | 17.28 | 17.69 | 16.14 | 18.28 | 13.51 | 16.88 |
P/E links to full P/E history page with 30-year chart
ORA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Ormat Technologies, Inc.'s enterprise value stands at 22.4x EBITDA, 27% above its 5-year average of 17.6x. The Utilities sector median is 11.9x, placing the stock at a 89% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.45 | 7.36 | 7.77 | 9.32 | 9.30 | 8.12 | 6.72 | 5.33 | 5.94 | 5.13 |
| EV / EBITDA | 22.41 | 19.89 | 14.87 | 16.48 | 19.46 | 17.51 | 15.45 | 14.64 | 12.24 | 13.16 | 10.98 |
| EV / EBIT | 57.66 | 37.64 | 25.96 | 27.10 | 37.32 | 33.12 | 23.21 | 23.04 | 18.43 | 18.29 | 17.07 |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | 461.88 |
ORA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Ormat Technologies, Inc. earns an operating margin of 18.5%, roughly in line with the Utilities sector average. Operating margins have compressed from 20.1% to 18.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 4.7% is modest, trailing the sector median of 9.3%. ROIC of 2.7% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.6% | 27.6% | 31.0% | 31.8% | 36.6% | 39.9% | 39.2% | 36.1% | 37.6% | 38.7% | 40.9% |
| Operating Margin | 18.5% | 18.5% | 19.6% | 20.1% | 20.8% | 25.5% | 30.3% | 26.0% | 25.7% | 29.6% | 30.5% |
| Net Profit Margin | 12.5% | 12.5% | 14.1% | 15.0% | 9.0% | 9.4% | 12.1% | 11.8% | 13.6% | 24.6% | 14.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.7% | 4.7% | 4.9% | 5.6% | 3.3% | 3.1% | 4.9% | 6.0% | 7.2% | 13.9% | 8.3% |
| ROA | 2.1% | 2.1% | 2.3% | 2.5% | 1.5% | 1.5% | 2.4% | 2.8% | 3.4% | 6.8% | 4.0% |
| ROIC | 2.7% | 2.7% | 2.8% | 3.0% | 3.0% | 3.8% | 5.6% | 5.5% | 5.8% | 7.6% | 8.2% |
| ROCE | 3.5% | 3.5% | 3.5% | 3.7% | 3.8% | 4.5% | 6.6% | 6.9% | 7.3% | 9.0% | 9.2% |
ORA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Ormat Technologies, Inc. carries a Debt/EBITDA ratio of 6.1x, which is highly leveraged (17% above the sector average of 5.2x). Net debt stands at $2.6B ($2.9B total debt minus $281M cash). Interest coverage of just 1.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.06 | 1.06 | 0.96 | 0.86 | 1.01 | 0.96 | 0.76 | 0.84 | 0.88 | 0.71 | 0.80 |
| Debt / EBITDA | 6.08 | 6.08 | 5.63 | 5.40 | 5.84 | 5.49 | 4.00 | 3.70 | 4.05 | 2.92 | 3.03 |
| Net Debt / Equity | — | 0.96 | 0.92 | 0.78 | 0.96 | 0.84 | 0.53 | 0.79 | 0.81 | 0.67 | 0.61 |
| Net Debt / EBITDA | 5.48 | 5.48 | 5.42 | 4.90 | 5.57 | 4.81 | 2.79 | 3.50 | 3.73 | 2.77 | 2.29 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | 96.35 |
| Interest Coverage | 1.75 | 1.75 | 1.86 | 2.41 | 2.09 | 2.25 | 3.16 | 2.71 | 2.93 | 4.15 | 2.95 |
ORA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.81x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.20x to 0.81x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.81 | 0.81 | 0.91 | 1.20 | 1.33 | 1.11 | 3.13 | 1.10 | 1.31 | 1.14 | 2.50 |
| Quick Ratio | 0.75 | 0.75 | 0.85 | 1.12 | 1.26 | 1.05 | 2.99 | 1.01 | 1.18 | 1.07 | 2.44 |
| Cash Ratio | 0.38 | 0.38 | 0.16 | 0.36 | 0.28 | 0.52 | 1.80 | 0.19 | 0.27 | 0.17 | 1.22 |
| Asset Turnover | — | 0.16 | 0.16 | 0.16 | 0.16 | 0.15 | 0.18 | 0.23 | 0.23 | 0.27 | 0.27 |
| Inventory Turnover | 15.84 | 15.84 | 15.94 | 12.55 | 20.38 | 14.02 | 12.15 | 13.64 | 9.97 | 21.71 | 32.65 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
ORA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Ormat Technologies, Inc. returns 0.4% to shareholders annually primarily through dividends. The payout ratio of 23.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 1.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.4% | 0.7% | 0.6% | 0.6% | 0.6% | 0.5% | 0.6% | 1.0% | 0.6% | 1.0% |
| Payout Ratio | 23.5% | 23.5% | 23.5% | 22.8% | 41.2% | 43.5% | 26.3% | 25.4% | 27.4% | 12.0% | 27.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.6% | 1.8% | 3.0% | 2.7% | 1.4% | 1.4% | 1.8% | 2.3% | 3.7% | 4.1% | 3.3% |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | 0.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.4% | 0.4% | 0.7% | 0.6% | 0.9% | 0.6% | 0.5% | 0.7% | 1.0% | 0.6% | 1.0% |
| Shares Outstanding | — | $61M | $61M | $60M | $57M | $56M | $52M | $51M | $51M | $51M | $50M |
Peer Comparison
Compare ORA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ORAYou | $8B | 64.1 | 22.4 | — | 27.6% | 18.5% | 4.7% | 2.7% | 6.1 |
 BEP | $11B | -530.3 | 13.3 | — | 16.8% | 13.4% | -0.1% | 0.9% | 10.7 |
 CWEN | $8B | 26.1 | 16.0 | 20.6 | 15.2% | 12.3% | 2.9% | 0.9% | 9.6 |
 NEE | $180B | 26.2 | 17.7 | — | 62.8% | 30.1% | 10.7% | 4.1% | 6.2 |
 AES | $10B | 11.6 | 11.3 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
 BKV | $3B | 13.2 | 9.7 | — | 31.7% | 17.8% | 9.6% | 5.9% | 1.5 |
 ARRY | $1B | -11.7 | 13.9 | 16.5 | 21.2% | 6.6% | -19.0% | 9.0% | 5.8 |
 GE | $371B | 43.5 | 38.0 | 51.1 | 36.8% | 19.1% | 45.3% | 24.7% | 2.1 |
 SLB | $72B | 20.4 | 11.0 | 15.0 | 18.2% | 15.3% | 13.5% | 12.1% | 1.7 |
 HAL | $29B | 23.4 | 10.4 | 17.6 | 15.7% | 10.2% | 12.2% | 10.2% | 2.4 |
 GNRC | $17B | 109.9 | 37.9 | 64.7 | 38.3% | 6.9% | 6.2% | 5.9% | 2.8 |
| Utilities Median | — | 19.1 | 11.9 | 18.6 | 38.4% | 18.5% | 9.3% | 4.9% | 5.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 24 years · Updated daily
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ORA — Frequently Asked Questions
Quick answers to the most common questions about buying ORA stock.
What is Ormat Technologies, Inc.'s P/E ratio?
Ormat Technologies, Inc.'s current P/E ratio is 64.1x. The historical average is 40.2x. This places it at the 85th percentile of its historical range.
What is Ormat Technologies, Inc.'s EV/EBITDA?
Ormat Technologies, Inc.'s current EV/EBITDA is 22.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.8x.
What is Ormat Technologies, Inc.'s ROE?
Ormat Technologies, Inc.'s return on equity (ROE) is 4.7%. The historical average is 6.5%.
Is ORA stock overvalued?
Based on historical data, Ormat Technologies, Inc. is trading at a P/E of 64.1x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Ormat Technologies, Inc.'s dividend yield?
Ormat Technologies, Inc.'s current dividend yield is 0.37% with a payout ratio of 23.5%.
What are Ormat Technologies, Inc.'s profit margins?
Ormat Technologies, Inc. has 27.6% gross margin and 18.5% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Ormat Technologies, Inc. have?
Ormat Technologies, Inc.'s Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.