ORANYSEElectric ServicesFiscal year ends December 31
ORMAT TECHNOLOGIES, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$86.64−2.67 (-2.99%)
Close on Oct 19, 2026
- Market cap
- $5.42B
- P/E (TTM)
- 42.5
- Dividend yield
- 0.55%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
27.6%−11.6 pts over 5 years
Operating margin
17.1%−13.2 pts over 5 years
Net margin
12.5%+0.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.5% | +10.5% | +7.0% | +5.2% | |
| Gross profit | +0.0% | +0.5% | -0.3% | +2.3% | |
| Operating income | -1.9% | +3.5% | -4.6% | +0.3% | |
| Net income | +0.1% | +23.5% | +7.7% | +0.3% | |
| EPS, diluted | -1.0% | +20.0% | +4.1% | -1.9% | |
| Dividend per share | 0.0% | 0.0% | +1.8% | +6.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 8.6% | 5.3% | 5.0% | |
| Return on assets | 3.7% | 2.4% | 2.1% | |
| Current ratio | 2.50 | 3.13 | 0.81 | |
| Interest coverage | 3.0× | 2.7× | 1.2× | |
| Inventory turnover | 26.1× | 12.2× | 17.2× | |
| Capex to revenue | 22.9% | 45.5% | 62.6% | |
| Diluted shares | 50M | 52M | 61M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ormat Technologies generated $1.60B from operations and spent $2.87B on capital expenditure, dividends and share buybacks. 94% of that went back into the business.
Generated
$1.60B
Used
$2.87B
Capital expenditure$2.71B94%Dividends$140.74M5%Share buybacks$17.96M1%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.5%
×Asset turnover0.17×
×Equity multiplier2.40×
=Return on equity, FY20255.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.5% | 0.17× | 2.40× | 5.0% |
| FY2024 | 14.1% | 0.16× | 2.29× | 5.2% |
| FY2023 | 15.0% | 0.17× | 2.35× | 5.9% |
| FY2022 | 9.0% | 0.16× | 2.43× | 3.5% |
| FY2021 | 9.4% | 0.16× | 2.27× | 3.4% |
| FY2020 | 12.1% | 0.20× | 2.23× | 5.3% |
| FY2019 | 11.8% | 0.23× | 2.35× | 6.5% |
| FY2018 | 13.6% | 0.25× | 2.27× | 7.7% |
| FY2017 | 19.1% | 0.27× | 2.22× | 11.6% |
| FY2016 | 13.4% | 0.28× | 2.29× | 8.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$123.90M
- Cash generatingOperating cash flow above zero$335.10M
- Return on assets improvedROA up on the prior year2.4% → 2.2%
- Earnings backed by cashOperating cash flow above net income$335.10M vs $123.90M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.91 → 0.81
- No dilutionShare count did not rise61M → 61M
- Gross margin improvedGross margin up on the prior year30.99% → 27.56%
- More efficientAsset turnover rose0.17 → 0.17