Ormat Technologies Inc (ORA) Fair Value & Analysis
Utilities · US · Market cap $6.4B · ISIN US6866881021
What is Ormat Technologies Inc really worth?
Ormat Technologies Inc
ORA · US
Below-average quality, and trading another 211% above our fair value of $33.52.
Strengths
Risks
For context
Fair value as of: Aug 21, 2026
From 14 valuation models · updated 15 days ago
Share price +4.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($42.84). The favourable scenario is already priced in.
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range $58.06 – $145.10 · fair‑value band $25.71 – $42.84 · the $104.19 price screens above the $33.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Ormat Technologies Inc (ORA) currently trades at $104.19, while our model-based Fair Value estimate is $33.52, implying the stock looks roughly 210.8% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Utilities sector. Bull case: the Multiples group reads highest at a median of $34.27 per share, and 0 of the 14 models we run sit above the $104.19 price. Bear case: the Dividend Discount group reads lowest at $6.95, and 14 of the 14 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Ormat Technologies Inc generated revenue of $1.2B at a net margin of 11.0%. Revenue grew 75.8% year over year. It earns a return on equity of 4.9%. Net debt stands at $2.6B. Fundamentals as of Aug 21, 2026
Our scenario range runs from $25.71 (bear case) to $42.84 (bull case); at $104.19, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at −12% fair-value upside, at −68%, ORA screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $1.08 per share, which is 3.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 14 models by family
Widest divergence: Multiples ($34.27) versus Dividend Discount ($6.95). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 43
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Ormat Technologies, Inc. engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, France, Indonesia, the Philippines, and internationally. It operates through three segments: Electricity, Product, and Energy Storage.
Full company description
Ormat Technologies, Inc. engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, France, Indonesia, the Philippines, and internationally. It operates through three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation; and provides services relating to the engineering, procurement, and construction of geothermal and recovered energy-based power plants. The Energy Storage segment owns and operates grid-connected, stand alone In Front of the Meter (IFM) battery energy storage BESS facilities, which provide capacity, energy, and ancillary services directly to the electric grid. The company serves contractors, geothermal plant owners and operators, interstate natural gas pipeline owners and operators, gas processing plant owners and operators, cement plant owners and operators, and biomass facilities owners and operators, as well as other companies engaged in energy-intensive industrial processes. Ormat Technologies, Inc. was founded in 1965 and is headquartered in Reno, Nevada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ormat Technologies Inc reported revenue of $990M in FY2025 versus $663M in FY2021, a compound +10.5%/yr. Reported net income was $124M in FY2025, compounding +18.9%/yr from FY2021.
ORA screens 211% overvalued. Compare with China Yangtze Power Co →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Powering the cloud after 60 years underground: Ormat’s geothermal pivot to AI
- Does Ormat Technologies (ORA) Pairing Higher 2026 Guidance With A Modest Dividend Reveal Its True Priorities?
Peer Group
Utilities - Renewable · 213 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Renewable median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Yangtze Power Co 600900 | ¥27.96 | ¥25.13 | −10% |
| Ørsted A/S ORSTED | kr 139.25 | kr 31.40 | −77% |
| Huaneng Lancang River Hydropower Inc 600025 | ¥9.79 | ¥5.57 | −43% |
| Adani Green Energy Limited ADANIGREEN | ₹1,319 | ₹169.61 | −87% |
| AXIA Energia SA AXIAP | $10.74 | $9.49 | −12% |
| VERBUND AG OEWA | €57.00 | €66.19 | +16% |
| BEP BEP | $31.27 | $70.40 | +125% |
| BEPUN BEPUN | C$45.05 | C$42.83 | −5% |
| Fortum Oyj FORTUM | €19.80 | €13.55 | −32% |
| China Longyuan Power Group 001289 | ¥15.92 | ¥7.55 | −53% |
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