ORA Financials Ormat Technologies, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 7.0% per year over the past 5 years.
Net income has grown faster than revenue (8.2% vs 7.0% per year).
Operating margin has contracted, at 17.1% in the latest year.

Financial health

Total debt ($2.8B) exceeds cash ($147M); net debt is $2.6B.
Total debt has grown faster than revenue (13.4% vs 7.0% per year).
Operating income covered interest expense 1.2× in the latest year.
Total debt is 6.0× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 22.9% of earnings.
The dividend has grown 5.3% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$990M	$127M	27.6%	17.1%	-$285M	$2.8B	$147M
2024	$880M	$131M	31.0%	19.6%	-$77M	$2.4B	$94M
2023	$829M	$133M	31.8%	20.1%	-$309M	$2.1B	$196M
2022	$734M	$78M	36.6%	20.8%	-$283M	$2.1B	$96M
2021	$663M	$76M	39.9%	25.5%	-$160M	$1.9B	$239M
2020	$705M	$85M	39.2%	30.3%	-$56M	$1.5B	$448M
2019	$746M	$88M	36.1%	26.0%	-$43M	$1.2B	$71M
2018	$719M	$98M	37.6%	25.7%	-$113M	$1.1B	$99M
2017	$693M	$132M	38.7%	29.6%	-$14M	$877M	$48M
2016	$663M	$89M	40.9%	30.5%	$7M	$957M	$230M
2015	—	$120M	—	—	$38M	$920M	$186M
2014	—	$54M	—	—	$54M	$1.0B	$40M
2013	—	$41M	—	—	-$118M	$966M	$57M
2012	—	-$213M	—	—	-$144M	$957M	$67M
2011	—	-$43M	—	—	-$137M	$811M	$100M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$404M	$44M	29.8%	19.9%	-$35M	—	$655M
Dec '25	$276M	$31M	28.6%	15.4%	-$40M	$2.8B	$147M
Sep '25	$250M	$24M	25.6%	16.2%	-$102M	—	$80M
Jun '25	$234M	$28M	24.3%	15.1%	-$38M	—	$88M
Mar '25	$230M	$40M	31.7%	22.2%	-$105M	—	$113M
Dec '24	$231M	$41M	31.9%	21.3%	$31M	$2.4B	$94M
Sep '24	$212M	$22M	27.8%	16.8%	-$3M	—	$88M
Jun '24	$213M	$22M	28.8%	16.5%	-$116M	—	$66M
Mar '24	$224M	$39M	35.2%	23.5%	$12M	—	$202M
Dec '23	$241M	$36M	32.5%	21.4%	-$30M	$2.1B	$196M
Sep '23	$208M	$35M	28.8%	18.1%	-$142M	—	$78M
Jun '23	$195M	$24M	25.4%	12.4%	-$86M	—	$275M
Mar '23	$185M	$29M	41.1%	28.7%	-$50M	—	$415M
Dec '22	$205M	$18M	39.0%	14.7%	-$80M	$2.1B	$96M
Sep '22	$176M	$18M	34.7%	22.1%	-$54M	—	$155M
Jun '22	$169M	$11M	34.1%	22.8%	-$93M	—	$263M
Mar '22	$184M	$18M	38.1%	24.5%	-$55M	—	$130M
Dec '21	$191M	$19M	39.6%	28.7%	-$17M	$1.9B	$239M
Sep '21	$159M	$15M	39.8%	22.7%	-$35M	—	$268M
Jun '21	$147M	$13M	35.4%	19.5%	-$90M	—	$250M

Valuation over time

How the market has priced ORA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 67.0× (Mar '23) to 58.0× (Jun '26).
The price-to-sales ratio has risen from 7.1× (Mar '23) to 7.4× (Jun '26).
The dividend yield has fallen from 0.5% (Mar '23) to 0.4% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is ORA growing its revenue and profit?

Over the past 5 years, Ormat Technologies, Inc.'s revenue has grown 7.0% per year, and net income grown 8.2% per year. These are computed facts, not advice.

How much debt does ORA have?

As of FY2025, Ormat Technologies, Inc. reported $2.8B of total debt against $147M of cash; operating income covered interest expense 1.2×.

What is ORA's profit margin?

In FY2025, gross margin was 27.6%, operating margin 17.1%, and net margin 12.8%.

What is ORA's P/E ratio?

As of Jun '26, Ormat Technologies, Inc. traded at a price-to-earnings ratio of about 58.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.