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ORMAT TECHNOLOGIES, INC. ORA

NYSE · stock · Electric Services · website · IPO 2004-11-11 · LEI

ORMAT TECHNOLOGIES, INC. statistics & valuation

Market cap$7.1B
P / E57.6×
P / S7.2×
P / B2.7×
Dividend yield0.41%
Net margin12.5%
Return on equity4.6%
FCF margin-28.8%
Net debt$2.5B
Net debt / EBITDA5.4×
Enterprise value USD$9.6B
EV / EBITDA20.9×
Earnings yield EBIT/EV1.8%
Return on capital3.1%
Graham number -60.7%$44.56

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($44.56); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
13.40% 19.10% 13.60% 11.80% 12.10% 9.40% 9.00% 15.00% 14.10% 12.50% 2016201720182019202020212022202320242025
Gross margin (%)
40.90% 38.70% 37.60% 36.10% 39.20% 39.90% 36.60% 31.80% 31.00% 27.60% 2016201720182019202020212022202320242025
Operating margin (%)
30.50% 29.60% 25.70% 26.00% 30.30% 25.50% 20.80% 20.10% 19.60% 17.10% 2016201720182019202020212022202320242025
Return on equity (%)
7.60% 10.00% 6.80% 5.80% 4.40% 3.10% 3.30% 5.10% 4.90% 4.60% 2016201720182019202020212022202320242025
Shares outstanding
50.1M 50.8M 51.0M 51.2M 56.0M 56.4M 56.5M 60.4M 60.8M 61.4M 2016201720182019202020212022202320242025
Net debt ($)
$726.3M $829.2M $1.03B $1.10B $1.03B $1.69B $1.96B $1.79B $2.25B $2.51B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.60% 5.00% 3.10% 2.70% 2.20% 1.40% 1.40% 2.40% 2.20% 2.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
1.10% -2.00% -15.70% -5.80% -7.90% -24.20% -38.50% -37.30% -8.70% -28.80% 2016201720182019202020212022202320242025
Debt / equity (×)
0.82× 0.66× 0.78× 0.77× 0.76× 0.96× 1.02× 0.82× 0.92× 0.99× 2016201720182019202020212022202320242025
EPS ($)
$1.77 $2.61 $1.92 $1.72 $1.65 $1.10 $1.17 $2.08 $2.04 $2.02 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ORMAT TECHNOLOGIES, INC. trades at about 56.1× earnings — above its 10-year norm (10-year range 26.9×–79.1×, median 46.1×).

26.9× 79.1×

Shaded band = 10-year range (26.9×–79.1×); dot = today's 56.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin27.6%31.0%31.8%36.6%39.9%39.2%36.1%37.6%38.7%40.9%
Operating margin17.1%19.6%20.1%20.8%25.5%30.3%26.0%25.7%29.6%30.5%
Net margin12.5%14.1%15.0%9.0%9.4%12.1%11.8%13.6%19.1%13.4%
FCF margin-28.8%-8.7%-37.3%-38.5%-24.2%-7.9%-5.8%-15.7%-2.0%1.1%
Return on assets2.0%2.2%2.4%1.4%1.4%2.2%2.7%3.1%5.0%3.6%
Return on equity4.6%4.9%5.1%3.3%3.1%4.4%5.8%6.8%10.0%7.6%
Debt / equity0.99×0.92×0.82×1.02×0.96×0.76×0.77×0.78×0.66×0.82×
Current ratio0.810.911.201.331.113.131.101.311.142.50

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.