Ormat Technologies
Market Cap
US$3.5b
Last Updated
2020/06/05 04:00 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Solid track record and slightly overvalued.
Similar Companies
Share Price & News
How has Ormat Technologies's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ORA has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-4.8%
ORA
3.5%
US Renewable Energy
2.9%
US Market
1 Year Return
11.9%
ORA
-0.7%
US Renewable Energy
8.9%
US Market
Return vs Industry: ORA exceeded the US Renewable Energy industry which returned -0.7% over the past year.
Return vs Market: ORA exceeded the US Market which returned 8.9% over the past year.
Shareholder returns
| ORA | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.8% | 3.5% | 2.9% |
| 30 Day | 12.1% | 12.6% | 10.6% |
| 90 Day | -2.3% | -6.1% | 5.1% |
| 1 Year | 12.6%11.9% | 2.4%-0.7% | 11.4%8.9% |
| 3 Year | 16.9%14.3% | 39.7%25.8% | 34.3%25.4% |
| 5 Year | 96.3%88.1% | 10.6%-14.7% | 60.7%42.7% |
Price Volatility Vs. Market
How volatile is Ormat Technologies's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Did You Miss Ormat Technologies' (NYSE:ORA) 83% Share Price Gain?1 month ago | Simply Wall St
Ormat Technologies, Inc.'s (NYSE:ORA) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?1 month ago | Simply Wall St
What Kind Of Shareholder Owns Most Ormat Technologies, Inc. (NYSE:ORA) Stock?Valuation
Is Ormat Technologies undervalued compared to its fair value and its price relative to the market?
20.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ORA ($69.33) is trading below our estimate of fair value ($87.37)
Significantly Below Fair Value: ORA is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ORA is poor value based on its PE Ratio (40.1x) compared to the Renewable Energy industry average (23.9x).
PE vs Market: ORA is poor value based on its PE Ratio (40.1x) compared to the US market (16.4x).
Price to Earnings Growth Ratio
PEG Ratio: ORA is poor value based on its PEG Ratio (2.4x)
Price to Book Ratio
PB vs Industry: ORA is overvalued based on its PB Ratio (2.5x) compared to the US Renewable Energy industry average (1.8x).
Next Steps
Future Growth
How is Ormat Technologies forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
16.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ORA's forecast earnings growth (16.8% per year) is above the savings rate (2.2%).
Earnings vs Market: ORA's earnings (16.8% per year) are forecast to grow slower than the US market (22.3% per year).
High Growth Earnings: ORA's earnings are forecast to grow, but not significantly.
Revenue vs Market: ORA's revenue (6.6% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: ORA's revenue (6.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ORA's Return on Equity is forecast to be low in 3 years time (8.7%).
Next Steps
Past Performance
How has Ormat Technologies performed over the past 5 years?
1.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ORA has high quality earnings.
Growing Profit Margin: ORA's current net profit margins (11.9%) are higher than last year (7.5%).
Past Earnings Growth Analysis
Earnings Trend: ORA's earnings have grown by 1.9% per year over the past 5 years.
Accelerating Growth: ORA's earnings growth over the past year (61%) exceeds its 5-year average (1.9% per year).
Earnings vs Industry: ORA earnings growth over the past year (61%) exceeded the Renewable Energy industry 20.6%.
Return on Equity
High ROE: ORA's Return on Equity (6.2%) is considered low.
Next Steps
Financial Health
How is Ormat Technologies's financial position?
Financial Position Analysis
Short Term Liabilities: ORA's short term assets ($584.3M) exceed its short term liabilities ($567.3M).
Long Term Liabilities: ORA's short term assets ($584.3M) do not cover its long term liabilities ($1.3B).
Debt to Equity History and Analysis
Debt Level: ORA's debt to equity ratio (91.4%) is considered high.
Reducing Debt: ORA's debt to equity ratio has reduced from 121.4% to 91.4% over the past 5 years.
Debt Coverage: ORA's debt is not well covered by operating cash flow (16.9%).
Interest Coverage: ORA's interest payments on its debt are not well covered by EBIT (2.7x coverage).
Balance Sheet
Next Steps
Dividend
What is Ormat Technologies's current dividend yield, its reliability and sustainability?
0.63%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ORA's dividend (0.63%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.62%).
High Dividend: ORA's dividend (0.63%) is low compared to the top 25% of dividend payers in the US market (4.32%).
Stability and Growth of Payments
Stable Dividend: ORA is not paying a notable dividend for the US market, therefore no need to check if payments are stable.
Growing Dividend: ORA is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: ORA is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of ORA's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Isaac Angel (63yo)
5.92yrs
Tenure
US$1,660,687
Compensation
Mr. Isaac Angel serves as the Chairman and Chief Executive Officer of Ormat Funding Corp. Mr. Angel has been Chief Executive Officer at Ormat Technologies, Inc. since July 1, 2014. Mr. Angel served as the ...
CEO Compensation Analysis
Compensation vs Market: Isaac's total compensation ($USD1.66M) is below average for companies of similar size in the US market ($USD5.84M).
Compensation vs Earnings: Isaac's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer | 5.92yrs | US$1.66m | 0.034% $1.2m | |
| President | 0.58yr | US$747.02k | 0.0095% $335.4k | |
| Executive Vice President of Operations & Products | 2.42yrs | US$595.30k | no data | |
| General Counsel & Chief Compliance Officer | 2.33yrs | US$498.95k | no data | |
| Executive Vice President of Electricity Segment | 12.75yrs | US$546.33k | no data | |
| Chief Financial Officer | 0.083yr | no data | no data | |
| VP Corporate Finance & Head of Investor Relations | no data | no data | no data | |
| Executive Vice President of Business Development | 0.25yr | no data | no data | |
| Executive Vice President of Business Development | 0.083yr | US$976.68k | no data | |
| Senior Vice President of Contract Management & Corporate Secretary | 15.67yrs | no data | no data |
2.3yrs
Average Tenure
55yo
Average Age
Experienced Management: ORA's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 4.58yrs | US$210.00k | 0.0066% $232.5k | |
| Independent Director | 15.58yrs | US$230.00k | 0.0033% $115.7k | |
| Chairman of Ormat Industries | no data | no data | no data | |
| Independent Director | 4.58yrs | US$223.50k | 0.0033% $115.7k | |
| Independent Director | 2.08yrs | US$201.50k | 0.0026% $93.1k | |
| Independent Director | 8.08yrs | US$225.00k | 0.0018% $63.0k | |
| Independent Chairman of the Board | 2.92yrs | US$320.00k | 0.0069% $242.7k | |
| Independent Director | 2.92yrs | US$24.00k | no data | |
| Independent Director | 2.92yrs | US$24.00k | no data | |
| Independent Director | 2.92yrs | US$207.00k | 0.00072% $25.5k |
2.9yrs
Average Tenure
62yo
Average Age
Experienced Board: ORA's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Ormat Technologies, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Ormat Technologies, Inc.
- Ticker: ORA
- Exchange: NYSE
- Founded: 1965
- Industry: Renewable Electricity
- Sector: Utilities
- Market Cap: US$3.538b
- Shares outstanding: 51.04m
- Website: https://www.ormat.com
Number of Employees
Location
- Ormat Technologies, Inc.
- 6140 Plumas Street
- Reno
- Nevada
- 89519
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ORA | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Nov 2004 |
| HNM | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Nov 2004 |
| ORA | TASE (The Tel-Aviv Stock Exchange) | Yes | Common Stock | IL | ILS | Nov 2004 |
| 0KDH | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Nov 2004 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/05 04:00 |
| End of Day Share Price | 2020/06/04 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
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.