Is the business good?
How good a business is ORA?
Ormat Technologies, Inc. earns 7.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
7.1%
Return on invested capital · cost of capital 9.0% · 1.9 points below what the capital costs: growth destroys value
- Operating margin
- 17%
Operating margin · Utilities median 21% · 12 months to Q2 2026
- Share count, year on year
- +2.5%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 0.42%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 30% |
| FY2021 | 26% |
| FY2022 | 21% |
| FY2023 | 20% |
| FY2024 | 20% |
| FY2025 | 17% |
Details›
- Gross margin12 months to Q2 2026
- 28%
- Operating margin12 months to Q2 2026
- 17%
- Net margin12 months to Q2 2026
- 11%
- Free cash flow margin
- −22%
- R&D as % of revenue
- 0.42%
- Revenue, trailing twelve months
- $1.19B
- Free cash flow, trailing twelve months
- −$265M
- Net income, trailing twelve months
- $127M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 7.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Utilities - Renewable
Ranks #5 of 5 by Smart Score