Ormat Technologies (ORA) FY2015 results: revenue $595 million, up 6.3% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $595 million for fiscal 2015, the year ended 31 December 2015, up 6.3% on the year before. Net income was $120 million, up 122.2%, and diluted earnings per share $2.45. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$595 million
+6.3% on the year
FY2008FY2015
Operating margin
27.6%
25.6% a year earlier
FY2008FY2015
Net income
$120 million
+122.2% on the year
FY2008FY2015
Diluted EPS
$2.45
+107.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
595
560
533
+6.3%
Cost of revenue
376
356
373
+5.8%
Gross profit
218
204
160
+7.1%
Gross margin
36.7%
36.4%
30.0%
Research and development
1.8
0.8
5.0
+127.3%
Operating income
164
143
97.0
+14.3%
Operating margin
27.6%
25.6%
18.2%
Interest expense
72.6
84.7
73.8
-14.3%
Pre-tax income
114
85.8
51.1
+32.3%
Income tax
-16.1
27.6
13.6
Effective tax rate
-14.1%
32.2%
26.5%
Net income
120
54.2
41.2
+122.2%
Net margin
20.2%
9.7%
7.7%
Diluted EPS
$2.45
$1.18
$0.91
+107.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
190
213
86.8
-10.9%
Capital expenditure
152
159
205
-4.0%
Free cash flow
37.6
54.5
-118
-31.0%
Free cash flow margin
6.3%
9.7%
-22.1%
Cash from investing
-91.0
-129
-157
Cash from financing
46.6
-101
61.1
Depreciation and amortisation
107
101
92.9
+6.4%
Share-based compensation
4.0
5.6
6.3
-29.0%
Dividends paid
12.7
9.6
3.6
+33.1%
Dividend per share
$0.26
$0.21
$0.08
+23.8%
Diluted shares, weighted
49m
46m
45m
+7.3%
Shares outstanding at period end
49m
46m
45m
+7.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
993
778
733
+27.8%
Non-controlling interest
93.9
11.8
12.4
+694.0%
Deposits
15.9
17.3
21.3
-8.1%
Debt
920
1,001
1,078
-8.1%
Other liabilities
250
314
315
-20.2%
Total liabilities and equity
2,274
2,122
2,159
+7.2%
Fixed assets
1,559
1,438
1,452
+8.5%
Intangible assets
25.9
28.7
31.9
-9.7%
Cash and equivalents
186
40.2
57.4
+362.1%
Receivables
55.3
48.6
95.4
+13.8%
Inventory
18.1
16.9
22.3
+6.8%
Other assets
429
549
500
-21.8%
Total assets
2,274
2,122
2,159
+7.2%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.