Ormat Technologies, Inc. (ORA) Financial Statements
Industry: Electric Services
In fiscal 2025, Ormat Technologies reported revenue of $989.5M, up 12.5% from $879.7M the year before. Net income was $123.9M (a 12.5% net margin), or $2.02 per diluted share. Gross margin was 27.6% and operating margin was 17.1%. Operating activities generated $335.1M of cash, leaving -$284.7M of free cash flow. At fiscal year end, Ormat Technologies held $6.25B in total assets against $3.56B in total liabilities, including $147.4M of cash and equivalents.
Open the full interactive Ormat Technologies financials → Quarterly statements, key ratios, valuation history and price charts.
Ormat Technologies Key Stats
| Share Price | $91.03 |
|---|---|
| Market Cap | $5.69B |
| P/E Ratio | 45.1 |
| Revenue YoY Growth | +12.5% |
| 52-Week Range | $88.64 – $144.94 |
| Shares Outstanding | 61.5 million (basic, 2026 Q2) |
Ormat Technologies Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $705.3M | $663.1M | $734.2M | $829.4M | $879.7M | $989.5M |
| Cost of Goods Sold | $429.1M | $398.7M | $465.3M | $565.4M | $607.0M | $716.9M |
| Gross Profit | $276.3M | $264.3M | $268.8M | $264.0M | $272.6M | $272.7M |
| Operating Income | $214.0M | $169.4M | $152.8M | $166.6M | $172.5M | $169.2M |
| Pre-Tax Income | $168.7M | $103.6M | $95.6M | $139.1M | $115.4M | $105.7M |
| Income Tax | $67.0M | $24.9M | $14.7M | $6.0M | -$16.3M | -$20.3M |
| Net Income | $85.5M | $62.1M | $65.8M | $124.4M | $123.7M | $123.9M |
| Diluted EPS | $1.65 | $1.10 | $1.17 | $2.08 | $2.04 | $2.02 |
Ormat Technologies Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $249.7M | $276.0M | $403.9M | $258.8M |
| Net Income | $24.1M | $31.4M | $44.1M | $27.1M |
| Diluted EPS | $0.39 | $0.51 | $0.71 | $0.43 |
Ormat Technologies Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $448.3M | $239.3M | $95.9M | $195.8M | $94.4M | $147.4M |
| Current Assets | $779.2M | $601.9M | $456.7M | $646.0M | $547.1M | $597.8M |
| Total Assets | $3.89B | $4.43B | $4.61B | $5.21B | $5.67B | $6.25B |
| Current Liabilities | $248.6M | $544.2M | $343.9M | $537.0M | $598.1M | $738.4M |
| Total Long-Term Debt | $1.47B | $1.93B | $2.05B | $1.99B | $2.34B | $2.66B |
| Total Liabilities | $1.94B | $2.42B | $2.58B | $2.76B | $3.11B | $3.56B |
| Shareholders' Equity | $1.81B | $1.85B | $1.87B | $2.32B | $2.43B | $2.54B |
Ormat Technologies Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $265.0M | $258.8M | $281.0M | $309.4M | $410.9M | $335.1M |
| Cash From Investing | -$386.0M | -$638.2M | -$523.4M | -$628.3M | -$780.3M | -$726.4M |
| Cash From Financing | $503.5M | $186.4M | $126.3M | $380.0M | $287.9M | $465.7M |
| Free Cash Flow | -$55.7M | -$160.4M | -$282.5M | -$309.0M | -$76.8M | -$284.7M |
| Dividends Paid | $22.5M | $27.0M | $27.1M | $28.4M | — | — |
Figures from Ormat Technologies' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Ormat Technologies financials page for every line item.
Ormat Technologies Company Profile
| Ticker | ORA |
|---|---|
| Exchange | NYSE |
| Industry | Electric Services |
| Headquarters | Reno, Nevada |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001296445 |
Frequently Asked Questions
What was Ormat Technologies' revenue in fiscal 2025?
Ormat Technologies (ORA) reported revenue of $989.5M for fiscal 2025.
What is Ormat Technologies' annual revenue history?
Ormat Technologies' annual revenue by fiscal year: 2020: $705.3M; 2021: $663.1M; 2022: $734.2M; 2023: $829.4M; 2024: $879.7M; 2025: $989.5M.
What was Ormat Technologies' net income in fiscal 2025?
Ormat Technologies reported net income of $123.9M for fiscal 2025.
What was Ormat Technologies' earnings per share (EPS) in fiscal 2025?
Ormat Technologies' diluted EPS was $2.02 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Ormat Technologies generate in fiscal 2025?
Ormat Technologies generated -$284.7M of free cash flow in fiscal 2025.
What was Ormat Technologies' revenue last quarter?
In its most recent reported quarter (2026 Q2), Ormat Technologies reported revenue of $258.8M.
How much debt does Ormat Technologies have?
Ormat Technologies reported $2.66B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Ormat Technologies are outstanding?
Ormat Technologies reported a weighted average of 61.5 million basic shares outstanding in 2026 Q2.
What is Ormat Technologies' market cap?
Based on its latest closing price, Ormat Technologies (ORA) has a market capitalization of about $5.69B.
When does Ormat Technologies' fiscal year end?
Ormat Technologies' fiscal year end, as registered with the SEC, is December 31.
Where is Ormat Technologies headquartered?
Ormat Technologies lists its business address in Reno, Nevada in its SEC filings.