$2.7 B

ORA Mkt cap, 22-Jun-2018

$48.7 M

Ormat Technologies Revenue Q1, 2018
Ormat Technologies Gross profit (Q1, 2018)-62 M
Ormat Technologies Gross profit margin (Q1, 2018), %(127.3%)
Ormat Technologies Net income (Q1, 2018)74.3 M
Ormat Technologies EBIT (Q1, 2018)54.6 M
Ormat Technologies Cash, 31-Mar-201854.7 M

Ormat Technologies Financials

Ormat Technologies Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

533.2 m559.5 m594.6 m662.6 m692.8 m

Revenue growth, %

5%6%11%

Cost of goods sold

373.4 m355.8 m376.4 m391.8 m424.4 m

Gross profit

159.8 m203.8 m218.3 m270.8 m268.5 m

Gross profit Margin, %

30%36%37%41%39%

R&D expense

2.8 m3.2 m

General and administrative expense

46.7 m42.9 m

Operating expense total

49.5 m46 m

EBIT

97 m143.5 m164.1 m201.9 m205 m

EBIT margin, %

18%26%28%30%30%

Interest expense

73.8 m84.7 m72.6 m67.4 m54.1 m

Interest income

1.3 m312 k297 k971 k988 k

Income tax expense

(13.6 m)(27.6 m)15.3 m(31.8 m)(21.7 m)

Net Income

42 m55 m123.3 m101.5 m147.1 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

130.7 m142.4 m127.6 m140.2 m120.2 m140.5 m162.9 m151.6 m160 b185 b190 b369.3 m526.4 m48.7 m

Cost of goods sold

91 m89 m87.6 m84.8 m76.2 m89.7 m103.5 m87.7 m94.1 b110 b115 b224.4 m322.4 m110.7 m

Gross profit

39.8 m53.5 m40 m55.5 m44 m50.8 m59.3 m63.9 m65.9 b75 b75 b144.9 m204.1 m(62 m)

Gross profit Margin, %

30%38%31%40%37%36%36%42%41%41%39%39%39%(127%)

R&D expense

838 k232 k250 k363 k414 k335 k349 k595 m1.1 b602 m1.7 m2.4 m1.1 m

General and administrative expense

6.5 m7.6 m6.1 m7.2 m10.2 m7.4 m8 m8.7 m8.8 b19.1 b9.9 b22.2 m33 m13.8 m

Operating expense total

7.4 m7.6 m6.3 m7.4 m10.6 m7.9 m8.3 m9.1 m9.4 b20.2 b10.6 b13.3 b35.4 m15 m

EBIT

29.8 m42.6 m22.3 m43.8 m29.9 m38.6 m46.5 m50.5 m51.9 b48.2 b59.5 b112.6 m156.6 m54.6 m

EBIT margin, %

23%30%17%31%25%28%29%33%32%26%31%31%30%112%

Interest expense

18.5 m20.5 m22.1 m22.5 m17.8 m18.9 m17.7 m16 m18.4 b17.1 b14.9 b29.5 m41.2 m14.3 m

Interest income

742 k111 k90 k35 k9 k44 k53 k320 k245 m266 m244 m606 k861 k113 k

Income tax expense

(5.2 m)(6.3 m)(5 m)(6.4 m)(5.5 m)(6.1 m)38.2 m(9.5 m)(7.9 b)(12 b)(10.9 b)(43.8 m)(50 m)26.9 m

Net Income

13.1 m21.8 m9.3 m16.8 m10.3 m15.3 m73.7 m30.9 m24.9 b14.4 b39.7 b51.5 m79 m74.3 m

Ormat Technologies Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

57.4 m40.2 m185.9 m230.2 m47.8 m

Accounts Receivable

Inventories

22.3 m16.9 m18.1 m12 m19.6 m

Current Assets

289.3 m273.9 m375.1 m472.8 m321.6 m

PP&E

1.5 b1.4 b1.6 b1.6 b1.7 b

Goodwill

6.7 m21 m

Total Assets

2.2 b2.1 b2.3 b2.5 b2.6 b

Accounts Payable

98 m88.3 m92 m80.8 m110.4 m

Short-term debt

Current Liabilities

186.3 m205.8 m188.5 m189.3 m283.3 m

Long-term debt

Total Liabilities

1.3 b1.3 b

Additional Paid-in Capital

735.3 m742 m849.2 m869.5 m888.8 m

Retained Earnings

(3.1 m)41.5 m148.4 m216.6 m327.3 m

Total Equity

745.1 m786.7 m1.1 b1.2 b1.3 b

Financial Leverage

2.9 x2.7 x2.1 x2.1 x2 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

35.4 m47.9 m80.1 m42.5 m70.7 m137.7 m171.5 m148.5 m192.6 m90.1 m174.1 m118.4 m77.2 m54.7 m

Inventories

20.4 m22.7 m18.3 m17.3 m17.3 m16.4 m16.6 m16.8 m16.7 m13 m17.8 m18.6 m18.7 m20.1 m

Current Assets

299.1 m292.6 m306.8 m327.4 m307.1 m369.5 m370.7 m379.6 m380.2 m309.4 m428.7 m387.2 m332.2 m322.1 m

PP&E

1.4 b1.5 b1.5 b1.5 b1.5 b1.5 b1.6 b1.6 b1.6 b1.6 b1.5 b1.5 b1.6 b1.7 b

Goodwill

7.1 m19.7 m20.1 m20.7 m21.3 m

Total Assets

2.2 b2.1 b2.1 b2.2 b2.2 b2.3 b2.3 b2.3 b2.3 b2.3 b2.5 b2.5 b2.5 b2.7 b

Accounts Payable

60.5 m55.7 m78.8 m75.2 m56.3 m58.1 m52.3 m76.5 m59 m65.2 m68.9 m79.6 m98.4 m103.6 m

Current Liabilities

194.1 m211.8 m226 m197 m244.9 m217.4 m180.7 m185 m193.1 m201.9 m207.5 m214.2 m193.5 m205.2 m

Total Liabilities

1.4 b1.4 b1.4 b1.4 b1.4 b1.3 b1.2 b1.2 b1.2 b1.1 b1.3 b1.3 b1.3 b1.3 b

Additional Paid-in Capital

737.1 m736.7 m738.8 m740.7 m771.6 m845.2 m847 m854.3 m856.8 m859.9 m871.2 m875.6 m896 m890.5 m

Retained Earnings

(13.1 m)15.7 m22.6 m36.8 m47.7 m59.2 m128.4 m162.2 m183 m191.6 m243.5 m246.8 m266.5 m410.8 m

Total Equity

737 m765.7 m770.6 m783.5 m819.2 m993.8 m1.1 b1.1 b1.1 b1.1 b1.2 b1.2 b1.2 b1.4 b

Financial Leverage

2.9 x2.8 x2.8 x2.8 x2.7 x2.3 x2.2 x2.1 x2 x2 x2.1 x2.1 x2 x2 x

Ormat Technologies Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

55 m123.3 m101.5 m147.1 m

Depreciation and Amortization

100.8 m107.2 m106 m115.1 m

Accounts Receivable

(24 m)

Inventories

5.4 m(1.1 m)6.3 m(1.1 m)

Accounts Payable

(9.6 m)(339 k)(1.4 m)51.6 m

Cash From Operating Activities

(9.3 m)213.2 m190 m159.3 m245.6 m

Cash From Investing Activities

(129.2 m)(91 m)(158.5 m)(368.1 m)

Long-term Borrowings

(111.2 m)(71.7 m)(62.1 m)(66.2 m)

Dividends Paid

(9.6 m)(12.7 m)(25.7 m)(20.5 m)

Cash From Financing Activities

(101.2 m)46.6 m43.5 m(59.9 m)

Income Taxes Paid

21.9 m

Free Cash Flow

364.4 m342.5 m7.4 m(13.7 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

13.1 m21.8 m9.3 m16.8 m10.3 m25.5 m99.2 m30.9 m55.9 m70.3 m39.7 m51.5 m79 m74.3 m

Depreciation and Amortization

52.6 m80.5 m26.2 m51.3 m77.6 m27.1 m54.1 m81 m30.6 m

Accounts Receivable

(625 k)(10.8 m)9.8 m

Inventories

18.3 m17.3 m17.3 m529 k335 k1.3 m1.4 m5.3 m(5.8 m)(103 k)(209 k)(503 k)

Accounts Payable

79.8 m78.4 m83.7 m(2.6 m)(21.9 m)(4.8 m)1.8 m10.5 m681 k(4.6 m)(3.7 m)(49 m)

Cash From Operating Activities

112.7 m123 m27 m119.6 m158 m71.5 m114.2 m166.5 m19.8 m

Cash From Investing Activities

(79.4 m)(76.5 m)(44.6 m)(55.3 m)(125.2 m)(128.7 m)(194.1 m)(261.6 m)(68 m)

Long-term Borrowings

(29.4 m)(40.5 m)(11.6 m)(31.4 m)(41 m)(13.4 m)(33.2 m)(55.2 m)(16.7 m)

Dividends Paid

(6.8 m)(9.8 m)(15.5 m)(19 m)(22.5 m)(8.4 m)(12.4 m)(16.6 m)(11.6 m)

Cash From Financing Activities

64.1 m84.9 m(19.8 m)(57.6 m)(128.7 m)1.2 m(31.9 m)(58 m)56.7 m

Free Cash Flow

26.6 m5.4 m(4 m)51.8 m50.1 m18.6 m(1.9 m)(10.9 m)(47.2 m)

Ormat Technologies Ratios

USDY, 2018

Financial Leverage

2 x
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