Ormat Technologies (ORA) FY2016 results: revenue $663 million, up 11.4% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $663 million for fiscal 2016, the year ended 31 December 2016, up 11.4% on the year before. Net income was $89 million, down 26.3%, and diluted earnings per share $1.77. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$663 million
+11.4% on the year
FY2009FY2016
Operating margin
30.5%
27.6% a year earlier
FY2009FY2016
Net income
$89 million
-26.3% on the year
FY2009FY2016
Diluted EPS
$1.77
-27.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
663
595
560
+11.4%
Cost of revenue
392
376
356
+4.1%
Gross profit
271
218
204
+24.1%
Gross margin
40.9%
36.7%
36.4%
Research and development
2.8
1.8
0.8
+55.2%
Operating income
202
164
143
+23.1%
Operating margin
30.5%
27.6%
25.6%
Interest expense
67.4
72.6
84.7
-7.1%
Pre-tax income
141
114
85.8
+24.2%
Income tax
37.1
-16.1
27.6
Effective tax rate
26.3%
-14.1%
32.2%
Net income
88.7
120
54.2
-26.3%
Net margin
13.4%
20.2%
9.7%
Diluted EPS
$1.77
$2.45
$1.18
-27.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
159
190
213
-16.2%
Capital expenditure
152
152
159
-0.3%
Free cash flow
7.4
37.6
54.5
-80.4%
Free cash flow margin
1.1%
6.3%
9.7%
Cash from investing
-174
-91.0
-129
Cash from financing
43.5
46.6
-101
-6.6%
Depreciation and amortisation
106
107
101
-1.1%
Share-based compensation
5.2
4.0
5.6
+30.4%
Dividends paid
25.7
12.7
9.6
+102.0%
Dividend per share
$0.52
$0.26
$0.21
+100.0%
Diluted shares, weighted
50m
49m
46m
+1.9%
Shares outstanding at period end
50m
49m
46m
+1.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,078
993
778
+8.6%
Non-controlling interest
91.6
93.9
11.8
-2.4%
Redeemable equity
11.1
n/a
n/a
Deposits
14.4
15.9
17.3
-9.4%
Debt
957
920
1,001
+3.9%
Other liabilities
310
250
314
+23.7%
Total liabilities and equity
2,462
2,274
2,122
+8.2%
Fixed assets
1,556
1,559
1,438
-0.2%
Goodwill
6.7
n/a
n/a
Intangible assets
52.8
25.9
28.7
+103.9%
Cash and equivalents
230
186
40.2
+23.8%
Receivables
80.8
55.3
48.6
+46.1%
Inventory
12.0
18.1
16.9
-33.6%
Other assets
523
429
549
+21.7%
Total assets
2,462
2,274
2,122
+8.2%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.