NYSE · ORA

Ormat Technologies, Inc.

Utilities · Renewable Utilities

$98.00▲ 6.64% ($6.10)today

As of 11:22 AM ET

52-week

$90.62$146.39

Market cap

$6.02B

P/E

What the market price implies · Reverse DCF

Historical revenue grew by 10.53%/yr over the past 4 years.

Selected forecast · Base scenario

7.15%/yr · actual 10-year annualized revenue growth

Year 1 growth: 11.2%

Market-implied · Base operating assumptions + edited margins

Unavailable · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

No supported revenue growth rate matches this price with these operating assumptions.

Valuation

Recommended · Revenue & margin DCF

Price used

$98.00

Estimated value / share

Unavailable

Base scenario

USD · TTM ending 2026-06-30

Enterprise value of $2.01B does not cover net debt, preferred stock and minority interest of $2.78B, so equity value is negative and no fair value per share can be shown. The projected cash flows are positive; the shortfall is in the equity bridge, not the forecast. This engine cannot separate captive-finance or other non-operating borrowings from operating debt.

Year 1 growth 11.2% · Ending margin 12.93% · Discount rate 8.05%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 3:22 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 3:22 PM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 5.94%Revenue (TTM): 31.13%FCF (TTM): -130.32%P/E: 63rd pct

What changed

The stock rose 5.94% over the last year. Revenue grew 31.13% over the trailing twelve months. Operating margin moved from 18.87% to 14.91%. Free cash flow declined 130.32% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 14.91%. A decisive move in revenue — currently up 31.13% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Ormat Technologies, Inc. (ORA) is a global enterprise dedicated to geothermal and recovered energy power solutions, with significant operations in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and various other international locations.

CEODoron Blachar

SectorUtilities

IndustryRenewable Utilities

Employees1,648

IPO dateNov 11, 2004

https://www.ormat.com

Market multiples

Forward P/E—

EV/EBITDA17.32

Enterprise value$9.28B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth10.57%

Gross margin (FY2025)27.56%▼3.4ppvs FY2024

Operating margin (FY2025)18.47%▼1.1ppvs FY2024

ROE4.98%0.0ppvs FY2025

Analyst consensus

RatingHold

Target price$132.14▲34.84%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 2, 2026

Q4 FY26 · EPS est $0.26 · Revenue est $248.65M

View

Dividends

$0.48/shareQuarterly7yr growth streakAt Risk

ORA pays a dividend with a 0.49% dividend yield, 7 consecutive years of growth, growing at 0.42% annually, covered -9.8× by free cash flow.

Dividend Yield

0.49%

Annual Div / Share

$0.48

5yr CAGR

+0.42%

Doubles every ~164.6yr

Payout Ratio

23.08%

At Risk

Dividend Growth Rate

3yr CAGR

+0%

5yr CAGR

+0.42%

10yr CAGR

-0.6%

Dividend Safety

5/10At Risk

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$0.48+0.0%

2025$0.48+0.0%

2024$0.48+0.0%

2023$0.48+0.0%

2022$0.48+2.1%

2021$0.47+6.8%

2020$0.44+2.3%

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$5/yr

$0/mo

In 5 yrs

$5/yr+2%

$0/mo

In 10 yrs

$5/yr+4%

$0/mo

Today	In 5 yrs	In 10 yrs
$5/yr $0/mo	$5/yr+2% $0/mo	$5/yr+4% $0/mo

Yield-on-cost grows from 0.49% → 0.51% over 10yr

Analysis

Dividend Strengths

No strong strength signal stands out from the latest period pair.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only -9.79× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

NYSE · ORA

Ormat Technologies, Inc.

Utilities · Renewable Utilities

$98.00▲ 6.64% ($6.10)today

As of 11:22 AM ET

52-week

$90.62$146.39

Market cap

$6.02B

P/E

What the market price implies · Reverse DCF

Historical revenue grew by 10.53%/yr over the past 4 years.

Selected forecast · Base scenario

7.15%/yr · actual 10-year annualized revenue growth

Year 1 growth: 11.2%

Market-implied · Base operating assumptions + edited margins

Unavailable · flat 10-year annualized revenue growth

No supported revenue growth rate matches this price with these operating assumptions.

Valuation

Recommended · Revenue & margin DCF

Price used

$98.00

Estimated value / share

Unavailable

Base scenario

USD · TTM ending 2026-06-30

Year 1 growth 11.2% · Ending margin 12.93% · Discount rate 8.05%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 3:22 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 3:22 PM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 5.94%Revenue (TTM): 31.13%FCF (TTM): -130.32%P/E: 63rd pct

What changed

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 14.91%. A decisive move in revenue — currently up 31.13% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

CEODoron Blachar

SectorUtilities

IndustryRenewable Utilities

Employees1,648

IPO dateNov 11, 2004

https://www.ormat.com

Market multiples

Forward P/E—

EV/EBITDA17.32

Enterprise value$9.28B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth10.57%

Gross margin (FY2025)27.56%▼3.4ppvs FY2024

Operating margin (FY2025)18.47%▼1.1ppvs FY2024

ROE4.98%0.0ppvs FY2025

Analyst consensus

RatingHold

Target price$132.14▲34.84%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 2, 2026

Q4 FY26 · EPS est $0.26 · Revenue est $248.65M

View

Dividends

$0.48/shareQuarterly7yr growth streakAt Risk

ORA pays a dividend with a 0.49% dividend yield, 7 consecutive years of growth, growing at 0.42% annually, covered -9.8× by free cash flow.

Dividend Yield

0.49%

Annual Div / Share

$0.48

5yr CAGR

+0.42%

Doubles every ~164.6yr

Payout Ratio

23.08%

At Risk

Dividend Growth Rate

3yr CAGR

+0%

5yr CAGR

+0.42%

10yr CAGR

-0.6%

Dividend Safety

5/10At Risk

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$0.48+0.0%

2025$0.48+0.0%

2024$0.48+0.0%

2023$0.48+0.0%

2022$0.48+2.1%

2021$0.47+6.8%

2020$0.44+2.3%

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$5/yr

$0/mo

In 5 yrs

$5/yr+2%

$0/mo

In 10 yrs

$5/yr+4%

$0/mo

Today	In 5 yrs	In 10 yrs
$5/yr $0/mo	$5/yr+2% $0/mo	$5/yr+4% $0/mo

Yield-on-cost grows from 0.49% → 0.51% over 10yr

Analysis

Dividend Strengths

No strong strength signal stands out from the latest period pair.

Risks to Watch

Dividend exceeds free cash flow

Free cash flow covers only -9.79× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.