Ormat Technologies Stock Fair Value – ORMAT TECHNOLOGIES Reports Third Quarter Fiscal Year 2023 Earnings Results
December 10, 2023
🌥️Earnings Overview
On November 8 2023 ORMAT TECHNOLOGIES ($NYSE:ORA) reported its financial results for the third quarter of the fiscal year 2023 (ending September 30 2023), showing total revenue of USD 208.1 million, an 18.3% jump from the same quarter in the preceding year. Net income surged 95.7% year-over-year and reached USD 35.4 million.
Price History
On Wednesday, ORMAT TECHNOLOGIES, a leader in the power generation, storage and conversion market, reported results for its third quarter of fiscal year 2023. The company saw its stock open at $64.2 and close at $62.4, a decrease of 3.1% from the previous day’s closing price of 64.4. ORMAT TECHNOLOGIES noted that it has implemented measures to combat the impact of the ongoing pandemic, including cost-cutting initiatives and increased efficiency throughout its operations. The company also emphasized that it expects to continue to produce strong results in the coming quarters, thanks to its successful strategies and continued development of new projects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ormat Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 793.57 | 106.71 | 17.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ormat Technologies. More…
| Operations | Investing | Financing |
| 296.19 | -523.41 | 126.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ormat Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.01k | 2.6k | 37.76 |
Key Ratios Snapshot
Some of the financial key ratios for Ormat Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.4% | -2.9% | 25.2% |
| FCF Margin | ROE | ROA |
| -34.1% | 5.5% | 2.5% |
Analysis – Ormat Technologies Stock Fair Value
GoodWhale recently conducted an analysis of ORMAT TECHNOLOGIES‘ fundamentals. After careful consideration, we have determined that the intrinsic value of ORMAT TECHNOLOGIES shares is around $80.0. This valuation was calculated using our proprietary Valuation Line, which takes into account a multitude of factors including financial statements, current market conditions, and expected future performance. At present, ORMAT TECHNOLOGIES is trading at $62.4 per share, making it significantly undervalued by 22.0%. This presents an excellent opportunity for investors to purchase ORMAT TECHNOLOGIES stock at an attractive price. We believe that now is the ideal time to take advantage of this opportunity and purchase ORMAT TECHNOLOGIES shares. More…
Peers
It operates in more than 30 countries and has a strong presence in the US, Europe, and Asia. The company has a diversified portfolio of renewable energy assets and is constantly innovating to stay ahead of its competitors. Some of its major competitors are EDP Renovaveis SA, Northland Power Inc, and Atlantica Sustainable Infrastructure PLC.
– EDP Renovaveis SA ($LTS:0ML1)
EDP Renovaveis SA is a leading renewable energy company in Europe. The company has a market cap of 19.36B as of 2022 and a ROE of 10.17%. The company has a strong presence in the wind and solar energy markets and is one of the largest renewable energy companies in the world. The company has a strong focus on renewable energy and is committed to providing clean, sustainable energy for the future.
– Northland Power Inc ($TSX:NPI)
Northland Power Inc is a Canadian power producer that owns and operates a diversified portfolio of power-generating facilities. The company has a market capitalization of 8.84 billion as of 2022 and a return on equity of 23.88%. Northland Power’s power-generating facilities are located in Canada, the United States, and Germany. The company’s primary business is the generation and sale of electricity to utilities and other large customers.
– Atlantica Sustainable Infrastructure PLC ($NASDAQ:AY)
As of 2022, Atlantica Sustainable Infrastructure PLC has a market cap of 2.93B and a ROE of 10.83%. The company is involved in the development, acquisition, and operation of sustainable infrastructure projects, including solar, wind, and water assets.
Summary
In its third quarter of fiscal year 2023, ORMAT TECHNOLOGIES reported a total revenue of USD 208.1 million, representing an 18.3% year-over-year growth. Net income increased by 95.7% compared to the same quarter last year, amounting to USD 35.4 million. Despite this impressive performance, the stock price of ORMAT TECHNOLOGIES moved down on the same day.
Investors may take this as an opportunity to enter a position in ORMAT TECHNOLOGIES for potentially attractive long-term returns. Analysts should monitor ORMAT’s market performance closely and ensure that their investment thesis is soundly based on fundamentals such as management team experience, competitive advantage, and market conditions.
