New PPA signings and project development pipeline additions (MW capacity under construction/development)
Electricity segment gross margin performance driven by plant availability rates (target 95%+) and O&M cost management
Product segment order backlog and timing of large turbine deliveries to third-party geothermal developers
Renewable energy policy developments including ITC/PTC tax credit extensions and state-level renewable portfolio standards
low - Electricity generation revenue is contracted under long-term PPAs with utilities, insulating 70-75% of revenue from economic cycles. Product segment has moderate cyclicality tied to global geothermal development activity and developer financing availability, but represents smaller revenue portion. Geothermal operates as baseload power with near-100% capacity factors, making output independent of economic demand fluctuations unlike merchant power generators.
Rising interest rates negatively impact Ormat through higher financing costs on project debt (typically 60-70% debt-financed at project level) and lower valuation multiples as investors rotate from yield-oriented utilities to bonds. Each 100bp rate increase raises financing costs ~$15-20M annually on new project debt. However, inflation-indexed PPAs (portion of contracts) provide partial offset. Rate sensitivity is elevated given negative FCF profile requiring ongoing capital markets access for growth funding.
Geothermal resource depletion risk - wells can experience declining steam production over 20-30 year plant life requiring expensive redrilling or supplemental wells, impacting returns on legacy assets
Technological competition from lower-cost solar/wind plus battery storage potentially reducing geothermal's baseload premium in PPA pricing, particularly as storage costs decline 10-15% annually
Regulatory and permitting risks for geothermal development including environmental reviews, water rights, and land use approvals extending project timelines 3-5 years
growth-oriented ESG/renewable energy investors seeking exposure to baseload clean energy with higher barriers to entry than solar/wind. The 89.6% one-year return suggests momentum investors have driven recent outperformance, likely on renewable energy policy optimism and utility decarbonization commitments. Negative FCF and elevated valuation (8.0x P/S, 18.8x EV/EBITDA) indicate growth premium pricing rather than value/dividend focus despite utility sector classification.
Trend
+15.8% vs SMA 50 · +21.3% vs SMA 200
Momentum
Strong accumulation on above-average volume. Buyers are absorbing supply aggressively — any positive catalyst could trigger a rapid covering move.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
ANALYST ESTIMATES
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2025 | $971.2M $968.7M–$977.2M | — | $2.19 | — | ±5% | High7 |
FY2026(current) | $1.2B $1.1B–$1.2B | ▲ +19.2% | $2.29 | ▲ +4.8% | ±23% | High7 |
FY2027 | $1.2B $1.1B–$1.2B | ▲ +1.7% | $2.48 | ▲ +8.5% | ±22% | High8 |
Dividend per payment — last 8 periods
INSTITUTIONAL OWNERSHIP
ORA News
About
with over five decades of experience, ormat technologies, inc. is a leading geothermal company and the only vertically integrated company solely engaged in geothermal and recovered energy generation (reg), with the objective of becoming a leading global provider of renewable energy. the company owns, operates, designs, manufactures and sells geothermal and reg power plants primarily based on the ormat energy converter - a power generation unit that converts low-, medium- and high-temperature heat into electricity. with 69 u.s. patents, ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. ormat has 470 employees in the united states and over 600 overseas. ormat’s flexible, modular solutions for geothermal power and reg are ideal for the vast range of resource characteristics. the company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totaling o
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
ORA◀ | $131.52 | -2.90% | $8.1B | 62.8 | +1249.2% | 1252.1% | 1500 |
| $1049.23 | -3.79% | $281.9B | 30.1 | +894.3% | 1283.0% | 1527 | |
| $93.36 | -2.42% | $194.7B | 23.8 | +1100.1% | 2487.3% | 1511 | |
| $92.55 | -1.21% | $104.3B | 23.8 | +1058.6% | 1468.9% | 1503 | |
| $120.95 | -2.70% | $94.3B | 18.3 | +619.3% | 1541.1% | 1498 | |
| $267.20 | -2.93% | $83.4B | 35.9 | +833.8% | 908.2% | 1493 | |
| $125.15 | -2.68% | $68.1B | 18.6 | +937.2% | 1643.5% | 1506 | |
| Sector avg | — | -2.66% | — | 30.5 | +956.1% | 1512.0% | 1505 |