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NYSE · Utilities

Ormat Technologies, Inc. (ORA)

As-reported financials and SEC filings for Ormat Technologies, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Ormat Technologies, Inc.

Ormat Technologies, Inc. operates in the renewable energy sector, primarily focusing on geothermal power generation. The company develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants globally, selling the electricity produced under long-term contracts. It also designs and manufactures equipment for geothermal and recovered energy power plants and owns grid-connected energy storage facilities in the United States that provide services to the electric grid.

Snapshot

Revenue
$989.5M
Revenue growth (YoY)
12.5%
Net income
$123.9M
Diluted EPS
$2.02
Gross margin
27.6%
Operating margin
17.1%
Net margin
12.5%
FCF margin
-28.8%
ROE
4.6%
net income / fiscal-year-end equity
P/E
43.6×
trailing when available, otherwise FY EPS
Market cap
$5.47B
Long-term debt / equity
0.99×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Ormat Technologies

  • Revenue grew 12.5% to $990M in FY2025, faster than the 6.1% the year before.
  • Operating margin is 17.1% in FY2025, -8.4 pp against 25.5% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $259M, up 10.6% from Q2 FY2025.
  • Free cash flow was negative $285M in FY2025.
  • Net income rose 0.1% to $124M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Ormat Technologies’s fundamentals sit among the 86 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin27.6%
32nd percentile of 20
Operating margin17.1%
34th percentile of 77
Net margin12.5%
49th percentile of 80
FCF margin-28.8%
9th percentile of 66
Revenue growth (YoY)+12.5%
70th percentile of 82
ROE4.6%
20th percentile of 81
P/E43.6×
97th percentile of 74
Long-term debt / equity0.99×
34th percentile of 77
Short interest6.83d
81st percentile of 86

Ormat Technologies’s P/E of 43.6 ranks in the 97th percentile of the 74 peers with a meaningful P/E. Ormat Technologies’s FCF margin of -28.8% ranks in the 9th percentile of the 66 Utilities companies reporting it.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+4 quant / multi-strat
Initiated / added
6
2 new, 4 added
Reduced / exited
1
0 trimmed, 1 exited
Combined position
$56.7M
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$26.9M247.0KAdded
Citadel AdvisorsquantQ2 2026$21.2M194.4KAdded
AQR Capital ManagementquantQ2 2026$4.9M45.4KAdded
Gotham Asset ManagementQ2 2026$2.0M18.0KAdded
Two Sigma InvestmentsquantQ2 2026$1.3M11.9KNew
Bridgewater AssociatesQ2 2026$405,7613.7KNew

No longer held by: Millennium Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
0
—
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-01
filed 2026-07-02
Aron John WillisEVP, Electricity SegmentSell451$106.64$48K
2026-05-27
filed 2026-05-29
Stanley SternDirectorSell250$138.42$35K
2026-05-21
David GranotDirectorSell1.8K$134.43$237K
2026-05-20
filed 2026-05-21
David GranotDirectorSell1.8K$132.70$233K
2026-05-19
filed 2026-05-21
Michal MaromDirectorSell3.1K$130.97$403K
2026-05-15
Stanley SternDirectorSell577$130.17$75K
2026-05-14
filed 2026-05-15
Assi GinzburgChief Financial OfficerSell15.2K$135.02$2.1M
2026-05-14
filed 2026-05-15
Assi GinzburgChief Financial OfficerSell2.6K$133.12$341K
2026-05-13
filed 2026-05-15
Ofer BenyosefEVP, Energy Storage & BDSell9.4K$131.02$1.2M
2026-05-13
filed 2026-05-15
Byron G. WongDirectorSell4.5K$134.32$604K
2026-05-11
Dafna SharirDirectorSell883$122.44$108K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
6.0M
settled 2026-09-30
Change vs prior
-0.4%
vs previous settlement
Days to cover
6.83
at avg daily volume
Avg daily volume
884.3K
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-306.0M-0.4%6.83
2026-09-156.1M+8.2%5.36
2026-08-315.6M+0.8%9.72
2026-08-145.6M+13.6%5.98
2026-07-314.9M-5.7%5.64
2026-07-155.2M+0.5%6.27
2026-06-305.2M+5.7%4.79
2026-06-154.9M+3.8%5.94

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$989.5M$879.7M$829.4M$734.2M$663.1M
Gross profit
Operating income$169.2M$172.5M$166.6M$152.8M$169.4M
Net income$123.9M$123.7M$124.4M$65.8M$62.1M
Diluted EPS$2.02$2.04$2.08$1.17$1.10

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$335.1M$410.9M$309.4M$281.0M$258.8M
Capital expenditure$619.8M$487.7M$618.4M$563.5M$419.3M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$258.8M10.6%$27.1M$0.43
Q1 FY2026$403.9M75.8%$44.1M$0.71
Q4 FY202519.6%
Q3 FY2025$249.7M17.9%$24.1M$0.39
Q2 FY2025$234.0M9.9%$28.0M$0.46
Q1 FY2025$229.8M2.5%$40.4M$0.66
Q4 FY2024-4.4%
Q3 FY2024$211.8M1.8%$22.1M$0.36

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryElectric Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2013
SEC CIK1296445

Selected SEC filings

10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-05
View on EDGAR →
8-K2026-05-06
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.