Ormat Technologies
Ormat Technologies, Inc. engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The last earnings update was 72 days ago. More info.
Add to Portfolio Compare Print
ORA Share Price and Events
7 Day Returns
1 Year Returns
ORA Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Ormat Technologies (ORA) | -0.1% | 1.2% | 9.5% | 22% | 40% | 138.7% |
| US Renewable Energy | 1.3% | 0.5% | -1.8% | 13.6% | 22.7% | -16.5% |
| US Market | -0.3% | 2.3% | 2.3% | 3.9% | 36.7% | 41.8% |
1 Year Return vs Industry and Market
- ORA outperformed the Renewable Energy industry which returned 13.6% over the past year.
- ORA outperformed the Market in United States of America which returned 3.9% over the past year.
Price Volatility
Related Companies
ORA Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Ormat Technologies
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Ormat Technologies.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 6 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Renewable Energy Unlevered Beta | Simply Wall St/ S&P Global | 0.47 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.471 (1 + (1- 21%) (40.11%)) |
0.746 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%) |
7.5% |
Discounted Cash Flow Calculation for NYSE:ORA using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Ormat Technologies is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 7.5%) |
|
|---|---|---|---|
| 2020 | 67.50 | Analyst x2 | 62.79 |
| 2021 | 85.00 | Analyst x1 | 73.56 |
| 2022 | 99.36 | Est @ 16.9% | 79.99 |
| 2023 | 111.93 | Est @ 12.65% | 83.82 |
| 2024 | 122.75 | Est @ 9.67% | 85.51 |
| 2025 | 132.07 | Est @ 7.59% | 85.58 |
| 2026 | 140.16 | Est @ 6.13% | 84.49 |
| 2027 | 147.33 | Est @ 5.11% | 82.62 |
| 2028 | 153.80 | Est @ 4.4% | 80.23 |
| 2029 | 159.80 | Est @ 3.9% | 77.55 |
| Present value of next 10 years cash flows | $796.14 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $159.80 × (1 + 2.73%) ÷ (7.5% – 2.73%) |
$3,442.92 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $3,442.92 ÷ (1 + 7.5%)10 |
$1,670.79 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $796.14 + $1,670.79 |
$2,466.93 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $2,466.93 / 50.75 |
$48.61 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $48.61 |
| Current discount | Discount to share price of
$63.15
= -1 x ($63.15 - $48.61) / $48.61 |
-29.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Ormat Technologies is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Ormat Technologies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Ormat Technologies's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $1.07 |
| NYSE:ORA Share Price ** | NYSE (2019-07-19) in USD | $63.15 |
| United States of America Renewable Energy Industry PE Ratio | Median Figure of 7 Publicly-Listed Renewable Energy Companies | 61.65x |
| United States of America Market PE Ratio | Median Figure of 3,083 Publicly-Listed Companies | 17.92x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Ormat Technologies.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:ORA Share Price ÷ EPS (both in USD) = 63.15 ÷ 1.07 |
58.81x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ormat Technologies is good value based on earnings compared to the US Renewable Energy industry average.
- Ormat Technologies is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Ormat Technologies's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 58.81x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts |
27.1%per year |
| United States of America Renewable Energy Industry PEG Ratio | Median Figure of 6 Publicly-Listed Renewable Energy Companies | 2.18x |
| United States of America Market PEG Ratio | Median Figure of 2,123 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 58.81x ÷ 27.1% |
2.17x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ormat Technologies is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Ormat Technologies's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $26.41 |
| NYSE:ORA Share Price * | NYSE (2019-07-19) in USD | $63.15 |
| United States of America Renewable Energy Industry PB Ratio | Median Figure of 13 Publicly-Listed Renewable Energy Companies | 1.46x |
| United States of America Market PB Ratio | Median Figure of 5,248 Publicly-Listed Companies | 1.8x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:ORA Share Price ÷ Book Value per Share (both in USD) = 63.15 ÷ 26.41 |
2.39x |
* Primary Listing of Ormat Technologies.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ormat Technologies is overvalued based on assets compared to the US Renewable Energy industry average.
Value checks
We assess Ormat Technologies's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check) Ormat Technologies has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
ORA Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Ormat Technologies's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Ormat Technologies's earnings growth is expected to exceed the United States of America market average.
- Ormat Technologies's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:ORA Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts | 27.1% |
| NYSE:ORA Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts | 6.1% |
| United States of America Renewable Energy Industry Earnings Growth Rate | Market Cap Weighted Average | 14.2% |
| United States of America Renewable Energy Industry Revenue Growth Rate | Market Cap Weighted Average | 1.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 832 | 293 | 123 | 3 |
| 2020-12-31 | 802 | 265 | 118 | 6 |
| 2019-12-31 | 734 | 263 | 89 | 6 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 734 | 203 | 54 |
| 2018-12-31 | 719 | 146 | 98 |
| 2018-09-30 | 695 | 182 | 144 |
| 2018-06-30 | 686 | 198 | 158 |
| 2018-03-31 | 687 | 194 | 167 |
| 2017-12-31 | 693 | 246 | 132 |
| 2017-09-30 | 693 | 168 | 91 |
| 2017-06-30 | 720 | 154 | 79 |
| 2017-03-31 | 701 | 204 | 95 |
| 2016-12-31 | 663 | 159 | 89 |
| 2016-09-30 | 667 | 225 | 89 |
| 2016-06-30 | 645 | 197 | 149 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
All data from Ormat Technologies Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 2.32 | 2.37 | 2.26 | 3.00 |
| 2020-12-31 | 2.20 | 2.37 | 1.93 | 6.00 |
| 2019-12-31 | 1.68 | 1.81 | 1.57 | 5.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 1.07 |
| 2018-12-31 | 1.93 |
| 2018-09-30 | 2.85 |
| 2018-06-30 | 3.12 |
| 2018-03-31 | 3.31 |
| 2017-12-31 | 2.64 |
| 2017-09-30 | 1.83 |
| 2017-06-30 | 1.59 |
| 2017-03-31 | 1.91 |
| 2016-12-31 | 1.79 |
| 2016-09-30 | 1.81 |
| 2016-06-30 | 3.04 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Ormat Technologies's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Ormat Technologies has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
ORA Past Performance
How has Ormat Technologies performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Ormat Technologies's year on year earnings growth rate has been positive over the past 5 years.
- Ormat Technologies's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Ormat Technologies's 1-year earnings growth is negative, it can't be compared to the North America Renewable Energy industry average.
Earnings and Revenue History
All data from Ormat Technologies Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 734.28 | 54.40 | 79.88 | 3.98 |
| 2018-12-31 | 719.27 | 97.97 | 78.00 | 4.18 |
| 2018-09-30 | 695.17 | 144.37 | 69.22 | 3.85 |
| 2018-06-30 | 685.87 | 157.75 | 64.41 | 3.86 |
| 2018-03-31 | 686.94 | 166.73 | 61.12 | 3.66 |
| 2017-12-31 | 692.81 | 132.41 | 57.77 | 3.16 |
| 2017-09-30 | 692.97 | 91.12 | 57.69 | 3.10 |
| 2017-06-30 | 720.40 | 79.12 | 59.46 | 3.47 |
| 2017-03-31 | 700.90 | 94.63 | 56.63 | 3.02 |
| 2016-12-31 | 662.59 | 88.71 | 55.15 | 2.76 |
| 2016-09-30 | 667.15 | 89.17 | 54.86 | 2.70 |
| 2016-06-30 | 645.38 | 149.35 | 53.20 | 1.95 |
| 2016-03-31 | 626.01 | 138.81 | 51.46 | 1.77 |
| 2015-12-31 | 594.64 | 120.37 | 52.44 | 1.78 |
| 2015-09-30 | 572.81 | 103.57 | 57.73 | 1.50 |
| 2015-06-30 | 550.20 | 47.94 | 56.65 | 1.42 |
| 2015-03-31 | 537.32 | 42.66 | 62.31 | 1.23 |
| 2014-12-31 | 559.52 | 54.18 | 59.48 | 0.78 |
| 2014-09-30 | 541.19 | 55.36 | 56.95 | 1.91 |
| 2014-06-30 | 531.69 | 51.80 | 54.64 | 2.50 |
| 2014-03-31 | 556.77 | 63.73 | 48.15 | 3.88 |
| 2013-12-31 | 533.24 | 36.54 | 46.29 | 4.97 |
| 2013-09-30 | 515.65 | -200.37 | 40.74 | 5.61 |
| 2013-06-30 | 517.20 | -215.69 | 41.09 | 6.20 |
| 2013-03-31 | 491.23 | -229.30 | 42.66 | 6.06 |
| 2012-12-31 | 501.77 | -216.57 | 46.42 | 6.11 |
| 2012-09-30 | 512.19 | -30.90 | 48.85 | 5.62 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Ormat Technologies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Ormat Technologies used its assets more efficiently than the US Renewable Energy industry average last year based on Return on Assets.
- Ormat Technologies's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Ormat Technologies's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Ormat Technologies has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
ORA Health
How is Ormat Technologies's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Ormat Technologies's finances.
The net worth of a company is the difference between its assets and liabilities.
- Ormat Technologies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Ormat Technologies's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Ormat Technologies Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,471.70 | 1,245.29 | 79.37 |
| 2018-12-31 | 1,453.70 | 1,267.91 | 98.80 |
| 2018-09-30 | 1,438.22 | 1,228.89 | 71.97 |
| 2018-06-30 | 1,427.07 | 1,191.13 | 66.70 |
| 2018-03-31 | 1,391.83 | 984.33 | 54.72 |
| 2017-12-31 | 1,302.12 | 913.60 | 47.82 |
| 2017-09-30 | 1,240.51 | 906.48 | 77.21 |
| 2017-06-30 | 1,205.30 | 937.65 | 118.39 |
| 2017-03-31 | 1,201.70 | 956.10 | 174.14 |
| 2016-12-31 | 1,173.04 | 938.84 | 230.21 |
| 2016-09-30 | 1,140.91 | 818.00 | 90.07 |
| 2016-06-30 | 1,117.44 | 871.18 | 192.56 |
| 2016-03-31 | 1,098.33 | 899.41 | 148.50 |
| 2015-12-31 | 1,083.87 | 901.40 | 185.92 |
| 2015-09-30 | 1,057.96 | 951.71 | 171.54 |
| 2015-06-30 | 993.81 | 920.91 | 137.67 |
| 2015-03-31 | 819.17 | 1,001.14 | 70.72 |
| 2014-12-31 | 786.75 | 1,001.41 | 40.23 |
| 2014-09-30 | 783.54 | 1,040.25 | 42.45 |
| 2014-06-30 | 770.60 | 1,035.97 | 80.12 |
| 2014-03-31 | 765.69 | 1,039.19 | 47.93 |
| 2013-12-31 | 745.11 | 1,077.86 | 57.35 |
| 2013-09-30 | 736.97 | 1,075.09 | 35.44 |
| 2013-06-30 | 723.72 | 1,050.82 | 31.91 |
| 2013-03-31 | 706.52 | 1,072.59 | 60.64 |
| 2012-12-31 | 695.61 | 1,030.93 | 69.64 |
| 2012-09-30 | 923.15 | 970.45 | 40.53 |
- Ormat Technologies's level of debt (85.6%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (135.7% vs 85.6% today).
- Debt is not well covered by operating cash flow (16.1%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Ormat Technologies's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Ormat Technologies has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
ORA Dividends
What is Ormat Technologies's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Ormat Technologies
shares you are expected to receive
$13
in your first year as a dividend.
Dividend Amount
- Ormat Technologies's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
- Ormat Technologies's dividend is below the markets top 25% of dividend payers in United States of America (3.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| United States of America Renewable Energy Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 3.5% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2017 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.54 | 2.00 |
| 2020-12-31 | 0.51 | 4.00 |
| 2019-12-31 | 0.42 | 3.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-01 | 0.410 | 0.695 |
| 2019-02-27 | 0.410 | 0.739 |
| 2018-03-01 | 0.470 | 0.873 |
| 2017-03-01 | 0.380 | 0.629 |
| 2017-02-28 | 0.380 | 0.665 |
| 2016-02-26 | 0.490 | 1.056 |
| 2016-02-23 | 0.490 | 1.286 |
| 2015-02-26 | 0.230 | 0.629 |
| 2015-02-25 | 0.230 | 0.681 |
| 2014-02-25 | 0.240 | 0.863 |
| 2013-11-06 | 0.160 | 0.618 |
| 2013-08-07 | 0.160 | 0.613 |
| 2013-05-08 | 0.000 | 0.000 |
| 2013-05-07 | 0.000 | 0.000 |
| 2013-03-11 | 0.000 | 0.000 |
| 2012-08-01 | 0.160 | 0.821 |
| 2012-05-08 | 0.160 | 0.798 |
| 2012-02-29 | 0.000 | 0.000 |
| 2012-02-23 | 0.000 | 0.000 |
| 2011-11-02 | 0.000 | 0.000 |
| 2011-08-04 | 0.160 | 0.946 |
| 2011-05-04 | 0.160 | 0.728 |
| 2011-02-28 | 0.160 | 0.644 |
| 2011-02-22 | 0.160 | 0.631 |
| 2010-11-02 | 0.200 | 0.693 |
| 2010-08-04 | 0.200 | 0.702 |
| 2010-05-06 | 0.200 | 0.702 |
| 2010-02-24 | 0.270 | 0.899 |
| 2009-08-05 | 0.240 | 0.631 |
| 2009-05-11 | 0.240 | 0.615 |
| 2009-02-25 | 0.280 | 0.974 |
| 2008-11-05 | 0.200 | 0.664 |
| 2008-08-06 | 0.200 | 0.565 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ormat Technologies is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
- Ormat Technologies is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess Ormat Technologies's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Ormat Technologies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Ormat Technologies has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
ORA Management
CEO
| COMPENSATION | $7,984,551 |
| AGE | 63 |
| TENURE AS CEO | 5 years |
CEO Bio
Mr. Isaac Angel serves as the Chairman and Chief Executive Officer of Ormat Funding Corp. Mr. Angel has been Chief Executive Officer at Ormat Technologies, Inc. since July 1, 2014. Mr. Angel served as the Executive Chairman of LeadCom Integrated Solutions Ltd. since May 2008 until 2009 and as served as its Director since May 2008. Mr. Angel served as Executive Vice President, Global Operations of VeriFone Systems, Inc. from November 2006 to January 1, 2008 and also served as its Executive Vice President of Operations. He served as Chief Operating Officer of VeriFone Systems, Inc. since November 2006. He served as Chief Executive Officer of Lipman Electronic Engineering Ltd. from February 2001 to October 2006 and served as its President from August 1999 to February 2001. He served as an Advisor of VeriFone Systems, Inc. until November 30, 2008. He served as an Interim President and Interim Chief Executive Officer of Lipman U. S. A., a subsidiary of Lipman Electronic Engineering Ltd., since September 30, 2004. He was Senior Employee of Lipman Electronics Engineering Ltd since 1979 and served as its Chief Development Manager. From 1993 to August 1999, he served as Senior Vice President of marketing at Lipman Electronics Engineering Ltd. Mr. Angel served as an Independent Director at Frutarom Industries Ltd. since February 12, 2008 until 2016. He serves as a Director of Ormat Industries Ltd. He served as a Director of Retalix Ltd. from 2012 to 2013.
CEO Compensation
- Isaac's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
- Isaac's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Ormat Technologies management team in years:
- The average tenure for the Ormat Technologies management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Isaac Angel
Chief Executive Officer
$8M
63
5 yrs
Doron Blachar
Chief Financial Officer
$574K
51
6.3 yrs
Shlomi Argas
Executive Vice President of Products Segment & Operations
$1M
54
1.5 yrs
Bob Sullivan
Executive Vice President of Business Development
$977K
56
4.5 yrs
Zvi Krieger
Executive Vice President of Electricity Segment
$1M
63
11.8 yrs
Smadar Lavi
VP Corporate Finance and Head of Investor Relations
Hezi Kattan
General Counsel & CCO
1.4 yrs
Nir Wolf
Executive Vice President of Market Development
53
4.5 yrs
Etty Rosner
Senior Vice President of Contract Management & Corporate Secretary
63
14.8 yrs
Uzi Albert
Manager of Logistics & Production of Ormat Systems
67
15 yrs
Board of Directors Tenure
Average tenure and age of the Ormat Technologies board of directors in years:
- The average tenure for the Ormat Technologies board of directors is less than 3 years, this suggests a new board.
Board of Directors
Todd Freeland
Chairman of the Board
$324K
2 yrs
Ishay Davidi
Chairman of Ormat Industries
57
Dan Falk
Independent Director
$230K
74
14.7 yrs
David Granot
Independent Director
$224K
72
7.2 yrs
Ravit Barniv
Independent Director
$225K
55
3.7 yrs
Stanley Stern
Independent Director
$208K
62
3.7 yrs
Yuichi Nishigori
Independent Director
$24K
62
2 yrs
Stan H. Koyanagi
Independent Director
$24K
59
2 yrs
Byron Wong
Independent Director
$213K
67
2 yrs
Dafna Sharir
Director
$233K
51
1.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27. Nov 18 | Sell | David Granot | Individual | 26. Nov 18 | 26. Nov 18 | -759 | $54.00 | $-40,986 | ||
Management checks
We assess Ormat Technologies's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Ormat Technologies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
ORA News
Simply Wall St News
What Should Investors Know About Ormat Technologies Inc's (NYSE:ORA) Capital Returns?
Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … To understand Ormat Technologies’s capital returns we will look at a useful metric called return on capital employed. … What is Return on Capital Employed (ROCE)?
Simply Wall St - – Full articleOrmat Technologies Inc (NYSE:ORA): How Much Money Comes Back To Investors?
If you are currently a shareholder in Ormat Technologies Inc (NYSE:ORA), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … Today we will examine Ormat Technologies’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Ormat Technologies generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating.
Simply Wall St - – Full articleDoes Ormat Technologies Inc's (NYSE:ORA) Debt Level Pose A Problem?
Today we will look at ORA’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … View out our latest analysis for Ormat Technologies
Simply Wall St - – Full articleShould Ormat Technologies Inc (NYSE:ORA) Be Your Next Stock Pick?
Attractive stocks have exceptional fundamentals. … In the case of Ormat Technologies Inc (NYSE:ORA), there's. … For those interested in digger a bit deeper into my commentary,
Simply Wall St - – Full articleIs It Time To Buy Ormat Technologies Inc (NYSE:ORA) Based Off Its PE Ratio?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for ORA Price per share = $52.21 Earnings per share = $3.275 ∴ Price-Earnings Ratio = $52.21 ÷ $3.275 = 15.9x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Ideally, we want to compare the stock’s P/E ratio to the average of companies that have similar characteristics as ORA, such as size and country of operation. … ORA’s P/E of 15.9x is lower than its industry peers (17.2x), which implies that each dollar of ORA’s earnings is being undervalued by investors.
Simply Wall St - – Full articleWhat Should You Know About Ormat Technologies Inc's (NYSE:ORA) Future Margins?
Margin Calculation for ORA Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 164.86 Million ÷ 686.94 Million = 24.00% The past five years have seen Ormat Technologies's margin expand, due to a 39.40% average growth in net income outstripping average revenue growth of 7.70%, which means that the previous increase in revenue has coincided with a larger portion falling to the bottom line. … This suggests future earnings growth is driven further by an increase in top line revenue, which is expected to squeeze the incremental amount of net income that is retained. … Thus, it is essential to run your own analysis on Ormat Technologies's future expectations whilst maintaining a watchful eye over the likelihood and sustainability of the top line performance that is expected to drive earnings growth.
Simply Wall St - – Full articleDoes Ormat Technologies Inc's (NYSE:ORA) Recent Track Record Look Strong?
After reading Ormat Technologies Inc's (NYSE:ORA) latest earnings update (30 September 2017), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … Check out our latest analysis for Ormat Technologies How ORA fared against its long-term earnings performance and its industry To account for any quarterly or half-yearly updates, I use data from the most recent 12 months, which annualizes the most recent half-year data, or in some cases, the latest annual report is already the most recent financial year data. … For Ormat Technologies, its latest earnings (trailing twelve month) is US$117.76M, which, in comparison to the prior year's level, has risen by 32.78%.
Simply Wall St - – Full articleHow Did Ormat Technologies Inc's (NYSE:ORA) 10.44% ROE Fare Against The Industry?
Check out our latest analysis for Ormat Technologies Breaking down ROE — the mother of all ratios Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Given a positive discrepancy of 1.95% between return and cost, this indicates that Ormat Technologies pays less for its capital than what it generates in return, which is a sign of capital efficiency. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NYSE:ORA Last Perf Mar 1st 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.
Simply Wall St - – Full articleHow Financially Strong Is Ormat Technologies Inc (NYSE:ORA)?
Moreover, ORA has generated $159.3M in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 16.97%, meaning that ORA’s operating cash is not sufficient to cover its debt. … Looking at ORA’s most recent $189.3M liabilities, it seems that the business has been able to meet these obligations given the level of current assets of $472.8M, with a current ratio of 2.5x. … In ORA's case, the ratio of 3.78x suggests that interest is appropriately covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback.Next Steps: ORA’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.
Simply Wall St - – Full articleIs It Time To Sell Ormat Technologies Inc (ORA) Based Off Its PE Ratio?
It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for ORA Price per share = $64.5 Earnings per share = $2.361 ∴ Price-Earnings Ratio = $64.5 ÷ $2.361 = 27.3x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Since ORA's P/E of 27.3x is higher than its industry peers (16.8x), it means that investors are paying more than they should for each dollar of ORA's earnings.
Simply Wall St - – Full articleORA Company Info
Description
Ormat Technologies, Inc. engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. The Product segment designs, manufactures, and sells equipment for geothermal, recovered energy-based electricity generation, and remote power units, such as fossil fuel powered turbo-generators and heavy duty direct-current generators. This segment also provides services relating to the engineering, procurement, construction, operation, and maintenance of geothermal, solar photovoltaic, and recovered energy-based power plants. The Product segment serves contractors; developers, owners, and operators of geothermal power plants; and owners and operators of interstate natural gas pipelines, gas processing plants, and cement plants, as well as companies in other energy-intensive industrial processes. The Other segment offers energy storage, demand response, and energy management related services. Ormat Technologies, Inc. was founded in 1965 and is based in Reno, Nevada.
Details
| Name: | Ormat Technologies, Inc. |
| ORA | |
| Exchange: | NYSE |
| Founded: | 1965 |
| $3,204,995,178 | |
| 50,752,101 | |
| Website: | http://www.ormat.com |
| Address: |
Ormat Technologies, Inc. 6140 Plumas Street, Reno, Nevada, 89519, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | ORA | Common Stock | New York Stock Exchange | US | USD | 11. Nov 2004 | |
| DB | HNM | Common Stock | Deutsche Boerse AG | DE | EUR | 11. Nov 2004 | |
| LSE | 0KDH | Common Stock | London Stock Exchange | GB | USD | 11. Nov 2004 | |
| TASE | ORA | Common Stock | The Tel-Aviv Stock Exchange | IL | ILS | 11. Nov 2004 |
Number of employees
Current staff
Industry
| Renewable Electricity | |
| Utilities |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/19 23:57 |
| End of day share price update: | 2019/07/19 00:00 |
| Last estimates confirmation: | 2019/07/10 |
| Last earnings filing: | 2019/05/08 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
