Filing Flows › Utilities › Ormat Technologies (ORA)
Ormat Technologies (ORA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Ormat Technologies (ORA) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $275M · 12¢ of every $1 of revenue kept as net profit · operating margin 16.4%
Ormat Technologies made $275M in Q3 2026 (+10% Y/Y): Electricity $164M, Product $61.5M, Energy Storage $49.9M. Operating margin 16.4%, net earnings $31.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $275.1M in Q3 2026, up 10% year over year and up 6% from the previous quarter. Electricity was the largest line at 59% of revenue. Energy Storage added $29.6M year over year (up 145%), 116% of the total change. Electricity declined 2%.
Gross margin was 28.1%, up 2.5 points from Q3 2025. Operating profit was $45.2M, a 16.4% margin (up 0.3 points year over year). Of the extra revenue versus Q3 2025, 19% reached operating profit, above the 16% margin then. Operating expenses grew 36% against revenue growth of 10%. Net earnings were $31.9M, up 32% year over year ($29.8M including minority interests, which bore $2.1M of losses). The effective tax rate was -29.4%.
Operating cash flow was $99.7M (up 121% year over year), 334% of net income including minority interests. Non-cash charges added back $82.5M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items used $18.1M. Capital expenditures of $172.7M exceeded it, leaving free cash flow of −$72.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $275M | +10% | 16.4% | $31.9M | $99.7M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $259M | +11% | 13.2% | $27.1M | $50.6M |
| Q1 2026 | 10-Q | May 7, 2026 | $404M | +76% | 19.9% | $44.1M | $78.6M |
| Q4 2025 | 10-K | Feb 26, 2026 | $276M | +20% | 15.4% | $31.4M | $105M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $250M | +18% | 16.2% | $24.1M | $45.2M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $234M | +10% | 15.1% | $28.0M | $96.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $230M | +2% | 22.2% | $40.4M | $88.0M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Ormat Technologies
We are a leading vertically integrated company primarily engaged in the geothermal power business. We leverage our core capabilities, proprietary technologies, and global presence to expand our activities in conventional geothermal development, recovered energy generation and emerging geothermal technologies, including piloting of new EGS technologies. In addition, we are expanding into different complementary energy solutions, including stand alone utility scale energy storage services and solar PV generation (including hybrid geothermal and solar PV as well as solar plus energy storage). Our objective is to become a leading global provider of renewable energy and to help mitigate climate change by providing reliable base-load and flexible alternatives to carbon-intensive energy sources.
In its own words, from its 10-K, filed Feb 26, 2026.
Ormat Technologies against its Electric Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +13%. Operating margin: 16.4% against the peers' median 26.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ORA Ormat Technologies | Q3 2026 | $275M | +10% | 16.4% |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Ormat Technologies 10-Q on SEC EDGAR · CIK 1296445 · Electric Services
Guidance and outlook
13F: who owns ORA and who is buying
More on ORA
- How Ormat Technologies makes money: revenue by segment
- Ormat Technologies next earnings date and what analysts expect
- Ormat Technologies stock forecast, price target and fair value
- Who owns Ormat Technologies stock: holders, funds and Congress trades
- Ormat Technologies guidance and outlook
- Is Ormat Technologies a takeover target? LBO and rumors
- Ormat Technologies recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Ormat Technologies guidance history: guided vs reported
- Ormat Technologies gross margin by quarter
- Ormat Technologies operating margin by quarter
- Ormat Technologies net income by quarter
- Ormat Technologies R&D spending by quarter
- Ormat Technologies capital expenditures by quarter
- Ormat Technologies Electricity revenue by quarter
- Ormat Technologies Product revenue by quarter
- Ormat Technologies Energy Storage revenue by quarter