Ormat Technologies (ORA) FY2022 results: revenue $734 million, up 10.7% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $734 million for fiscal 2022, the year ended 31 December 2022, up 10.7% on the year before. Net income was $66 million, up 6.0%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$734 million
+10.7% on the year
FY2015FY2022
Operating margin
20.8%
25.5% a year earlier
FY2015FY2022
Net income
$66 million
+6.0% on the year
FY2015FY2022
Diluted EPS
$1.17
+6.4% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
281
259
265
+8.6%
Capital expenditure
563
419
321
+34.4%
Free cash flow
-283
-160
-55.7
Free cash flow margin
-38.5%
-24.2%
-7.9%
Cash from investing
-523
-638
-386
Cash from financing
126
186
503
-32.3%
Depreciation and amortisation
199
183
157
+8.6%
Share-based compensation
11.6
9.2
9.8
+27.0%
Buybacks
18.0
0.0
0.0
Dividends paid
27.1
27.0
22.5
+0.6%
Dividend per share
$0.48
$0.48
$0.44
0.0%
Diluted shares, weighted
57m
56m
52m
+0.2%
Shares outstanding at period end
56m
56m
56m
+0.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,868
1,855
1,806
+0.7%
Non-controlling interest
153
143
135
+6.9%
Redeemable equity
9.6
9.3
9.8
+2.8%
Short-term borrowings
0.0
n/a
n/a
Debt
2,053
1,926
1,474
+6.6%
Operating lease liabilities
19.8
16.5
12.9
+20.2%
Finance lease liabilities
2.3
4.4
9.1
-48.1%
Other liabilities
506
472
442
+7.4%
Total liabilities and equity
4,612
4,426
3,889
+4.2%
Fixed assets
2,493
2,295
2,099
+8.6%
Goodwill
90.3
90.0
24.6
+0.4%
Intangible assets
334
363
194
-8.1%
Securities held for sale or to maturity
0.0
43.3
0.0
Cash and equivalents
95.9
239
448
-59.9%
Receivables
129
123
149
+4.8%
Inventory
22.8
28.4
35.3
-19.7%
Other assets
1,446
1,243
938
+16.3%
Total assets
4,612
4,426
3,889
+4.2%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.