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 Aug 9, 2026, 10:20 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$990M	$127M	27.6%	17.1%	5.0%	2.0%	-$285M	$2.8B	$147M
2024	$880M	$131M	31.0%	19.6%	5.4%	2.3%	-$77M	$2.4B	$94M
2023	$829M	$133M	31.8%	20.1%	5.7%	2.6%	-$309M	$2.1B	$196M
2022	$734M	$78M	36.6%	20.8%	4.2%	1.7%	-$283M	$2.1B	$96M
2021	$663M	$76M	39.9%	25.5%	4.1%	1.7%	-$160M	$1.9B	$239M
2020	$705M	$85M	39.2%	30.3%	4.7%	2.2%	-$56M	$1.5B	$448M
2019	$746M	$88M	36.1%	26.0%	6.3%	2.7%	-$43M	$1.2B	$71M
2018	$719M	$98M	37.6%	25.7%	7.4%	3.1%	-$113M	$1.1B	$99M
2017	$693M	$132M	38.7%	29.6%	10.9%	5.0%	-$14M	$877M	$48M
2016	$663M	$89M	40.9%	30.5%	8.2%	3.6%	$7M	$957M	$230M
2015	—	$120M	—	—	12.1%	5.3%	$38M	$920M	$186M
2014	—	$54M	—	—	7.0%	2.6%	$54M	$1.0B	$40M
2013	—	$41M	—	—	5.6%	1.9%	-$118M	$966M	$57M
2012	—	-$213M	—	—	-30.6%	-10.2%	-$144M	$957M	$67M
2011	—	-$43M	—	—	-4.7%	-1.9%	-$137M	$811M	$100M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Jun '26	$259M	$27M	26.5%	13.2%	1.0%	0.4%	-$87M	—	$514M
Mar '26	$404M	$44M	29.8%	19.9%	1.7%	0.7%	-$35M	—	$655M
Dec '25	$276M	$31M	28.6%	15.4%	1.2%	0.5%	-$40M	$2.8B	$147M
Sep '25	$250M	$24M	25.6%	16.2%	1.0%	0.4%	-$102M	—	$80M
Jun '25	$234M	$28M	24.3%	15.1%	1.1%	0.5%	-$38M	—	$88M
Mar '25	$230M	$40M	31.7%	22.2%	1.6%	0.7%	-$105M	—	$113M
Dec '24	$231M	$41M	31.9%	21.3%	1.7%	0.7%	$31M	$2.4B	$94M
Sep '24	$212M	$22M	27.8%	16.8%	0.9%	0.4%	-$3M	—	$88M
Jun '24	$213M	$22M	28.8%	16.5%	0.9%	0.4%	-$116M	—	$66M
Mar '24	$224M	$39M	35.2%	23.5%	1.6%	0.7%	$12M	—	$202M
Dec '23	$241M	$36M	32.5%	21.4%	1.5%	0.7%	-$30M	$2.1B	$196M
Sep '23	$208M	$35M	28.8%	18.1%	1.6%	0.7%	-$142M	—	$78M
Jun '23	$195M	$24M	25.4%	12.4%	1.1%	0.5%	-$86M	—	$275M
Mar '23	$185M	$29M	41.1%	28.7%	1.3%	0.6%	-$50M	—	$415M
Dec '22	$205M	$18M	39.0%	14.7%	1.0%	0.4%	-$80M	$2.1B	$96M
Sep '22	$176M	$18M	34.7%	22.1%	1.0%	0.4%	-$54M	—	$155M
Jun '22	$169M	$11M	34.1%	22.8%	0.6%	0.2%	-$93M	—	$263M
Mar '22	$184M	$18M	38.1%	24.5%	1.0%	0.4%	-$55M	—	$130M
Dec '21	$191M	$19M	39.6%	28.7%	1.0%	0.4%	-$17M	$1.9B	$239M
Sep '21	$159M	$15M	39.8%	22.7%	0.8%	0.3%	-$35M	—	$268M

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 45.6× (Nov '26).
The price-to-sales ratio has fallen from 7.1× (Mar '23) to 5.9× (Nov '26).
The dividend yield has fallen from 0.5% (Mar '23) to 0.5% (Nov '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?

Ormat Technologies, Inc.'s P/E (TTM) is 45.77 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the ORA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 45.6× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.