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Developer and operator of geothermal power plants, plus energy-storage systems, mainly in the US and abroad.
Developer and operator of geothermal power plants, plus energy-storage systems, mainly in the US and abroad.
Earns most from selling electricity from plants it owns under long-term power purchase agreements with utilities, so output and contract price decide income, and plants run around the clock regardless of weather. It also sells geothermal equipment to other developers, in lumpy orders, and has added battery storage. The group began in Israel; its US plants are mostly in Nevada and California.
Moat: narrow (IP / patents, installed base, process know-how). Deep geothermal technology expertise and long-lived, contracted power-plant assets.
Headquarters: Reno, Nevada, US · Founded: 1965 · Employees: 1,648
Size Ormat Technologies (ORA) is a United States Utilities company (Electric Utilities) with a market value of $5.65B, the 1105th largest of 3,117 United States companies the cockpit tracks. Shares closed at $91.90 on 6 Nov 2026.
Performance Over six months the shares fell 24.5%, against -6.3% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 31.1% over the last twelve months (peer median +4.3%); the operating margin is 19.4% (peer median 14.7%).
Valuation It trades at 41.2× forward earnings against a peer median of 12.9× (3rd most expensive of 20).
Capital Return on invested capital runs 4.7 points below its cost of capital (7.8% WACC).
Credit Ormat Technologies has 1 bond outstanding ($191M).
Short interest Short interest is 9.7% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.19B | $990M | $880M | $829M | $734M |
| Revenue growth | — | +12% | +6% | +13% | — |
| Gross profit | $332M | $273M | $273M | $264M | $269M |
| EBITDA | $542M | $486M | $454M | $403M | $391M |
| Net income | $127M | $124M | $124M | $124M | $65.8M |
| Free cash flow | -$265M | -$285M | -$76.8M | -$309M | -$283M |
| Capital expenditure | $544M | $620M | $488M | $618M | $563M |
| Total debt | $3.41B | $2.86B | $2.45B | $2.12B | $2.05B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ormat Technologies ORA | $5.65B | -24% | +31% | 19% | 41.2× | n/a |
| NextEra Energy NEE | $182B | -6% | +13% | 30% | 21.0× | 18.8% |
| Brookfield Renewable Partners LP BEP-UN.TO | $9.41B | -7% | +7% | 11% | n/a | n/a |
| Clearway Energy CWEN | $7.00B | -11% | +8% | 13% | 56.4× | 33.1% |
| Fluence Energy FLNC | $973M | -78% | +7% | -4% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ORA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.7% | -0.3% | 6th highest of 21 |
| 6-month return | -24.5% | -6.3% | 4th lowest of 21 |
| Distance from 52-week high | -37.2% | -24.6% | 4th lowest of 21 |
| Revenue growth (TTM) | +31.1% | +4.3% | highest of 21 |
| Operating margin | 19.4% | 14.7% | 6th highest of 21 |
| Forward P/E | 41.2× | 12.9× | 3rd most expensive of 20 |
| ROIC minus cost of capital | -4.7 pp | -0.7 pp | 2nd lowest of 21 |
| EV / EBITDA | 15.9× | 11.7× | most expensive of 12 |
| Net debt / EBITDA | 5.1× | 4.6× | 6th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ormat Technologies ORA | United States | $5.65B | -24% | +31% | 19% | 41.2× | n/a | n/a |
| China Southern Power Grid Energy Storage 600995.SS | China | $5.48B | -21% | +18% | 41% | 18.7× | n/a | n/a |
| Portland General Electric POR | United States | $5.47B | -5% | +3% | 16% | 12.9× | n/a | n/a |
| Enel Chile SA Sponsored ADR ENIC | United States | $6.06B | -6% | +16% | 19% | 9.4× | 3.4% | +6.9% |
| Hera HER.MI | Italy | $6.14B | -3% | -11% | 8% | 11.9× | -8.9% | +12.6% |
| YTL 1773.T | Japan | $6.14B | +1% | +19% | 19% | 12.5× | n/a | n/a |
| ATCO ACO-X.TO | Canada | $6.15B | +25% | +5% | 12% | 16.8× | 15.0% | +5.5% |
| Acea ACE.MI | Italy | $5.14B | -7% | -21% | 26% | 14.3× | 5.8% | -3.3% |
| NorthWestern Energy NWE | United States | $5.09B | +14% | +11% | 19% | 20.6× | n/a | n/a |
| Beijing Jingneng Power 600578.SS | China | $5.06B | +3% | -6% | 11% | 11.0× | -2.8% | +12.2% |
| Huadian Energy 600726.SS | China | $5.01B | -33% | -7% | 10% | n/a | n/a | n/a |
| TXNM Energy TXNM | United States | $6.41B | -1% | +10% | 24% | 22.5× | n/a | n/a |
| Shanghai Electric Power 600021.SS | China | $4.98B | -31% | -6% | 13% | 8.9× | n/a | n/a |
| Companhia Energetica de Minas Gerais SA Sponsored ADR Pfd CIG | United States | $6.45B | -23% | +13% | 13% | 9.0× | -1.6% | +9.4% |
| Shenergy 600642.SS | China | $6.64B | +1% | -2% | 12% | 12.6× | -1.6% | +7.2% |
| Brookfield Renewable BEPC | United States | $4.79B | -13% | +6% | 19% | 249.6× | n/a | n/a |
| Torrent Power TORNTPOWER.NS | India | $6.78B | -26% | +8% | 13% | 23.3× | n/a | n/a |
| Shaanxi Energy Investment 001286.SZ | China | $4.68B | -16% | +4% | 24% | 12.9× | -9.2% | +18.6% |
| HK Electric Investments & HK Electric Investments 2638.HK | Hong Kong | $6.99B | -3% | +4% | 42% | 17.1× | 3.5% | +3.1% |
| Wintime Energy 600157.SS | China | $4.55B | -21% | -9% | 7% | 104.2× | 0.8% | +1.4% |
| Shenzhen Energy 000027.SZ | China | $4.49B | -8% | +4% | 13% | 11.2× | n/a | n/a |
Ormat Technologies has 1 bond outstanding with $191M face value.