# Ormat Technologies Inc. (ORA) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Utilities / Independent Power and Renewable Electricity Producers. Price $105.45, market value $6.5 billion.

## Valuation
- **P/E (trailing): 51.7×** (5-yr avg 53.2×, 3-yr avg 41.1×). Ormat Technologies Inc. trades at 51.7× trailing earnings, close to its own five-year average of 53.2×. The Utilities median in the September 2026 study was 21.2×. Forward P/E is 41.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 5.5×**. Each dollar of revenue is priced at 5.5×.
- **Price / book: 2.5×**. The shares trade at 2.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 17.8×**. Enterprise value is 17.8× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -4.1%** (5-yr avg -4.5%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 1.9%**. The inverse of the P/E: 1.9% of the price is earned each year.

## Profitability
- **Gross margin: 27.9%**. Ormat Technologies Inc. keeps 27.9% of revenue after the direct cost of what it sells.
- **Operating margin: 16.6%**. 16.6% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 12.5%**. 12.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.9%**. 4.9% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.1%**. Return on all capital, debt included, is 3.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.0%**. Each dollar of assets produces 2.0% of profit.

## Growth
- **Revenue growth (1 yr): 12.5%** (3-yr 10.5%/yr, 5-yr 7.0%/yr). Revenue grew 12.5% over the last year, against 7.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -1.0%** (3-yr 20.0%/yr, 5-yr 4.1%/yr). Earnings per share fell 1.0%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.05**. Debt is 1.05 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 5.0×**. It would take 5.0 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 1.91**. A Z-score of 1.91 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.46%** ($0.48 per share, trailing). Ormat Technologies Inc. yields 0.46%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 23%**. 23% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 6**. 6 straight years of increases.
- **Dividend growth (5 yr): 1.8%/yr** (1-yr 0.0%). The dividend has grown 1.8% a year over five years.

## Analyst view
- **Analyst consensus: buy** (12 analysts). 12 analysts cover Ormat Technologies Inc.; the consensus is buy, with an average price target of $132.42 (+26% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 15.4%** (YTD -4.4%, 3-mo -24.7%). The shares are up 15.4% over twelve months including dividends.
- **From 52-week high: -28.0%** (17.6% above the low). Trading 28% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 48**. An RSI of 48 is neutral.
- **Beta (1 yr): 0.84** (volatility 35%). Beta of 0.84 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ORA · Page: https://foliofundamentals.com/stocks/ora

Not investment advice.