ORMAT TECHNOLOGIES, INC. (ORA) FY2025 10-K Annual Report

Filed: Feb 26, 2026
Utilities
Electric ServicesSEC EDGAR

ORMAT TECHNOLOGIES, INC. (ORA) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

ORMAT TECHNOLOGIES, INC. FY2025 10-K Analysis

Business Overview

  • Core business: Development, construction, and operation of geothermal, recovered energy-based, solar PV, and energy storage power plants globally
  • Emphasis this year on new energy storage projects alongside traditional geothermal and solar PV facilities
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Management Discussion & Analysis

  • Revenue details not explicitly provided; net income $127.0M in 2025 vs $131.2M in 2024 vs $133.1M in 2023, showing slight decline
  • Adjusted EBITDA $582.0M in 2025, up 5.7% YoY from $550.5M in 2024; EBITDA $545.1M in 2025 vs $517.9M in 2024, margin data not disclosed
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Risk Factors

  • Regulatory risk: Hawaii PUC approved 2024 PPA with fixed prices and extension to 2052 for 25 MW Puna Complex, replacing variable price PPA linked to oil prices
  • Macroeconomic threat: U.S. inflation rise may increase expenses, reduce margins; 40% total revenues from foreign markets including Kenya, Honduras, Guatemala
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ORMAT TECHNOLOGIES, INC. FY2025 Key Financial Metrics
XBRL

Revenue

$990M

+12.5% YoY

Net Income

$124M

+0.1% YoY

Gross Margin

27.6%

-343bp YoY

Operating Margin

17.1%

-251bp YoY

Net Margin

12.5%

-155bp YoY

ROE

4.9%

-23bp YoY

Total Assets

$6.2B

+10.2% YoY

EPS (Diluted)

$2.02

-1.0% YoY

Operating Cash Flow

$335M

-18.5% YoY

Source: XBRL data from ORMAT TECHNOLOGIES, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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