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Black Hills vs Ormat Technologies: BKH and ORA compared
Black Hills is the larger company: $466M of revenue in its latest quarter (Q3 2026) against $275M for Ormat Technologies (Q3 2026). Ormat Technologies is growing faster (+10% against +8% a year earlier). Black Hills is more profitable, with an operating margin of 21.0% against 16.4%.
Where the money goes: BKH and ORA
Black Hills (BKH) · Q3 2026
Black Hills, Q3 2026: revenue $466M (+8% year over year), operating margin 21.0%, net earnings $41.0M, operating cash flow $171M. The chart follows the revenue to costs, profit and cash.
Ormat Technologies (ORA) · Q3 2026
Ormat Technologies, Q3 2026: revenue $275M (+10% year over year), operating margin 16.4%, net earnings $31.9M, operating cash flow $99.7M. The chart follows the revenue to costs, profit and cash.
| Black Hills (BKH) | Ormat Technologies (ORA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $466M | $275M |
| Revenue growth, Y/Y | +8% | +10% |
| Gross margin | — | 28.1% |
| Operating margin | 21.0% | 16.4% |
| Net earnings | $41.0M | $31.9M |
| Net margin | 8.8% | 11.6% |
| Operating cash flow | $171M | $99.7M |
| Market value | $6.5B | $5.6B |
| P/E | 19.9× | 42.9× |
| Analysts’ mean target | $87.07 | $118.31 |
Where the revenue comes from
Ormat Technologies
- Electricity: $164M (59%)
- Product: $61.5M (22%)
- Energy Storage: $49.9M (18%)
Questions
Which is bigger, Black Hills or Ormat Technologies?
Black Hills is the larger company: $466M of revenue in its latest quarter (Q3 2026) against $275M for Ormat Technologies (Q3 2026).
Is Black Hills or Ormat Technologies growing faster?
Ormat Technologies is growing faster (+10% against +8% a year earlier).
Which is more profitable, Black Hills or Ormat Technologies?
Black Hills is more profitable, with an operating margin of 21.0% against 16.4%.
More: Black Hills earnings · how Black Hills makes money · Ormat Technologies earnings · how Ormat Technologies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.