Ormat Technologies (ORA) FY2021 results: revenue $663 million, down 6.0% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $663 million for fiscal 2021, the year ended 31 December 2021, down 6.0% on the year before. Net income was $62 million, down 27.3%, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$663 million
-6.0% on the year
FY2014FY2021
Operating margin
25.5%
30.3% a year earlier
FY2014FY2021
Net income
$62 million
-27.3% on the year
FY2014FY2021
Diluted EPS
$1.10
-33.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
259
265
236
-2.3%
Capital expenditure
419
321
280
+30.7%
Free cash flow
-160
-55.7
-43.5
Free cash flow margin
-24.2%
-7.9%
-5.8%
Cash from investing
-638
-386
-255
Cash from financing
186
503
-5.8
-63.0%
Depreciation and amortisation
183
157
149
+16.8%
Share-based compensation
9.2
9.8
9.4
-6.7%
Buybacks
0.0
0.0
n/a
Dividends paid
27.0
22.5
22.4
+20.1%
Dividend per share
$0.48
$0.44
$0.44
+9.1%
Diluted shares, weighted
56m
52m
51m
+8.6%
Shares outstanding at period end
56m
56m
51m
+0.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,855
1,806
1,392
+2.7%
Non-controlling interest
143
135
123
+5.9%
Redeemable equity
9.3
9.8
9.2
-5.1%
Debt
1,926
1,474
1,238
+30.6%
Operating lease liabilities
16.5
12.9
14.0
+27.6%
Finance lease liabilities
4.4
9.1
11.2
-52.1%
Other liabilities
472
442
463
+6.8%
Total liabilities and equity
4,426
3,889
3,250
+13.8%
Fixed assets
2,295
2,099
1,971
+9.3%
Goodwill
90.0
24.6
20.1
+266.2%
Intangible assets
363
194
186
+86.9%
Securities held for sale or to maturity
43.3
0.0
n/a
Cash and equivalents
239
448
71.2
-46.6%
Receivables
123
149
155
-17.6%
Inventory
28.4
35.3
34.9
-19.5%
Other assets
1,243
938
812
+32.5%
Total assets
4,426
3,889
3,250
+13.8%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.