Ormat Technologies Inc (ORA) fair value: what the stock is really worth
We calculate from audited financials what Ormat Technologies Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Utilities · US · Market cap $6.4B · ISIN US6866881021
At a glance
OTOrmat Technologies IncORA · US
Price$96.65
Fair Value$33.52
Upside−65.3%
Quality38/100
Below-average quality, and trading another 188% above our fair value of $33.52.
As of Aug 21, 2026, the fair value of Ormat Technologies Inc is $33.52 per share against a price of $96.65, so the fair value sits 65% below the price. A model estimate from reported figures, not an analyst target.
!Expensive Growth (revenue 5y +7.0 %/yr)
✓Solidly profitable · 11.0% net margin
!Moderate debt · negative free cash flow
·0.50% dividend yield
!Trails peers (5/14)
!Moderate moat 48/100
!Weak on past: 20 out of 100
!Weak on dividend: 10 out of 100
Evidence: HighRange $25.71 to $42.84
Fair value as of: Aug 21, 2026
From 14 valuation models · updated 21 days ago
Share price −15.6% over the past month.
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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 $96.65 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.
Ormat Technologies Inc (ORA) currently trades at $96.65, while our model-based Fair Value estimate is $33.52, implying the stock looks roughly 188.4% 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 $96.65 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
Scenario range: $25.71 (bear) to $42.84 (bull), the price of $96.65 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 34% below its 52-week high and 25% 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 −65%, ORA screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then ($1.10 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence
Highest evidence
Residual Income best evidence$31.08$31.07$28.8676
Gordon GGM$4.15$8.28$12.5467
DDM Multi-Stage$4.15$6.95$8.7467
All 14 models by family
Earnings-Based
Graham-Dodd$13.71$45.50$60.8964
Lynch FV$10.29$14.70$19.1161
PEG = 1.0$10.29$14.70$19.1157
Dividend Discount
Gordon GGM$4.15$8.28$12.5467
DDM Multi-Stage$4.15$6.95$8.7467
Multiples
P/E Multiple$27.22$36.29$45.3663
P/S Multiple$25.71$34.27$42.8458
P/B Multiple$25.71$34.27$42.8455
EV/EBIT$0.0400$11.20$22.3556
EV/EBITDA$24.55$43.86$63.1865
EV/Revenuen/a$5.25$16.8550
Asset-Based
NCAV (Graham)$20.70$27.74$41.4054
Economic Profit
Residual Income best evidence$31.08$31.07$28.8676
Growth Earnings
Growth-Adj P/E$23.46$33.52$43.5767
Widest divergence: Multiples ($34.27) versus Dividend Discount ($6.95). Highest evidence: Residual Income (76).
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Key figures & financial health
P/E ratio46.7
P/S ratio5.85P/E × margin
EPS (TTM)$2.07price ÷ EPS = P/E 46.7
Dividend yield0.5%payout 23.2%
Net margin12.5%FY2025
Return on equity4.9%TTM
More key figures
Profitability
Return on assets (EBIT)3.3%avg 5y
Operating margin21.3%TTM
Growth
Revenue (TTM)$1.2BTTM
Revenue growth (YoY)+75.8%3y avg +10.5%
EPS growth (YoY)+7.6%
Balance sheet & cash flow
Free cash flow−$285MFY2025
Net debt$2.6BFY2025
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality38/100
Of which business quality 38
· Market factors (momentum, volatility) 41
Profitability25
Margins and returns on capital today
Quality Growth37
Are margins and returns improving?
Cashflow50
Earnings quality: real cash, not paper profit
Fin. Strength29
Balance sheet, leverage, solvency risk
Investment31
Disciplined investing over empire-building
Low Volatility62
Calm price path (market factor)
Momentum32
Price trend over the last 3–12 months (market factor)
52W Momentum31
Distance to the 52-week high (market factor)
Net Issuance63
Buybacks instead of dilution
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.
Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$990M
Latest YoY
+12.5%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.5%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.0%
Avg. revenue growth/yr (24Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.4%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
−0.8%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−1.3%
Dividend yield0.5%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 4.2% vs 10Y 0.8%, picking up
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30.3% (2020) → 18.5% (2025) · falling
Worst earnings drop787% (2012) (loss year, drop beyond 100%) · in USD
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
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.
This stockSector peers
VALUE0· sector 0
FUTURE100· sector 0
PAST20· sector 14
HEALTH54· sector 67
DIVIDEND10· sector 42
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.
None of the checked exposures detected
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Is Ormat Technologies Inc (ORA) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of $33.52 versus a price of $96.65, about −65% upside (overvalued).
What is the fair value of ORA?
Our model-based fair value for Ormat Technologies Inc is $33.52 (as of Aug 21, 2026), built from audited fundamentals. The current price: $96.65.
What is the quality score of ORA?
Ormat Technologies Inc has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ormat Technologies Inc (ORA)?
Our model-based price target is the fair value of $33.52 (as of Aug 21, 2026) from 14 valuation models. Cautious scenario $25.71, optimistic scenario $42.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Ormat Technologies Inc stock forecast for 2026?
Our models put fair value at $33.52, about −65% upside versus a price of $96.65 (overvalued). Cautious scenario $25.71, optimistic scenario $42.84. The calculation is refreshed regularly with new filings.
What is the revenue of Ormat Technologies Inc (ORA)?
Ormat Technologies Inc reported trailing-twelve-month revenue of about $1.2B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of ORA?
The net profit margin of Ormat Technologies Inc is about 11.0%, meaning it keeps roughly 11.0% of revenue as net income. Based on the latest reported figures.
Does Ormat Technologies Inc pay a dividend?
Ormat Technologies Inc currently shows a dividend yield of about 0.50% relative to its recent price (as of Aug 21, 2026).
What is the intrinsic value of Ormat Technologies Inc (ORA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ormat Technologies Inc it is $33.52 per share (as of Aug 21, 2026), against a price of $96.65. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Ormat Technologies Inc stock overvalued or undervalued in 2026?
As of Aug 21, 2026, ORA trades above its calculated fair value: price $96.65, fair value $33.52, a gap of about −65% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ORA?
No. The price is what the market pays today ($96.65); the fair value is what the company's own numbers justify ($33.52). For Ormat Technologies Inc the two are $63.13 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ormat Technologies Inc worth?
The market values Ormat Technologies Inc at about $6.4B (market capitalisation, as of Aug 21, 2026). Per share that is $96.65; our models calculate a fair value of $33.52 per share.
What do the bullish and bearish scenarios say about ORA?
Our models span a range for Ormat Technologies Inc: cautious scenario $25.71, base $33.52, optimistic $42.84 per share (as of Aug 21, 2026, price $96.65). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ORA?
Ormat Technologies Inc trades at a price-to-earnings ratio of 46.7 (as of Aug 21, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $33.52 is built from several models across several years. Other multiples: PEG 5.5, P/B 2.5, P/S 5.5, EV/EBITDA 16.6.
What is the PEG ratio of ORA?
The PEG ratio of Ormat Technologies Inc is 5.45 (P/E divided by earnings growth, as of Aug 21, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ormat Technologies Inc (ORA)?
Balance-sheet figures for Ormat Technologies Inc (as of Aug 21, 2026): return on equity 4.9%, debt of 0.92 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is ORA from its 52-week high?
Ormat Technologies Inc trades at $96.65, about 34% below its 52-week high of $146.39 and 25% above the low of $77.13 (as of Aug 21, 2026). Distance from the high says nothing about value: that is what the fair value of $33.52 is for.
Which stocks are comparable to Ormat Technologies Inc?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Adani Green Energy Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ormat Technologies Inc stock attractive at the current price?
The data as of Aug 21, 2026: price $96.65, calculated fair value $33.52 (−65%), Quality Score 38/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ORA calculated?
We run Ormat Technologies Inc through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $33.52, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Ormat Technologies Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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Ormat Technologies Inc
ORA · US