Ormat Technologies (ORA) FY2024 results: revenue $880 million, up 6.1% on the year
Ormat Technologies, Inc. (ORA) reported revenue of $880 million for fiscal 2024, the year ended 31 December 2024, up 6.1% on the year before. Net income was $124 million, down 0.5%, and diluted earnings per share $2.04. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$880 million
+6.1% on the year
FY2017FY2024
Operating margin
19.6%
20.1% a year earlier
FY2017FY2024
Net income
$124 million
-0.5% on the year
FY2017FY2024
Diluted EPS
$2.04
-1.9% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
411
309
281
+32.8%
Capital expenditure
488
618
563
-21.1%
Free cash flow
-76.8
-309
-283
Free cash flow margin
-8.7%
-37.3%
-38.5%
Cash from investing
-780
-628
-523
Cash from financing
288
380
126
-24.2%
Depreciation and amortisation
263
225
199
+16.9%
Share-based compensation
20.2
15.5
11.6
+30.5%
Buybacks
0.0
0.0
18.0
Dividends paid
29.1
28.4
27.1
+2.5%
Dividend per share
$0.48
$0.48
$0.48
0.0%
Diluted shares, weighted
61m
60m
57m
+1.7%
Shares outstanding at period end
60m
60m
56m
0.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,425
2,315
1,868
+4.7%
Non-controlling interest
126
126
153
+0.2%
Redeemable equity
9.4
10.6
9.6
-10.9%
Short-term borrowings
n/a
n/a
0.0
Debt
2,345
1,990
2,053
+17.9%
Operating lease liabilities
22.5
19.8
19.8
+13.8%
Finance lease liabilities
1.5
2.2
2.3
-31.7%
Other liabilities
737
745
506
-1.1%
Total liabilities and equity
5,666
5,208
4,612
+8.8%
Fixed assets
3,502
2,999
2,493
+16.8%
Goodwill
151
90.5
90.3
+66.8%
Intangible assets
302
308
334
-1.9%
Securities held for sale or to maturity
n/a
n/a
0.0
Cash and equivalents
94.4
196
95.9
-51.8%
Receivables
164
209
129
-21.4%
Inventory
38.1
45.0
22.8
-15.4%
Other assets
1,415
1,362
1,446
+3.9%
Total assets
5,666
5,208
4,612
+8.8%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.