ORMAT TECHNOLOGIES, INC.

Ormat Technologies, Inc. has a liquidity position that is considered high, with a current ratio of 0.81, indicating that its current liabilities exceed its current assets. The company's free cash flow for the year is negative at -284,675,000, which is a concern for its liquidity. The company's capital expenditure for the year is 619,776,000, which is a significant investment in its operations. In terms of profitability, Ormat's return on equity is 4.87%, and its return on assets is 1.98%, which are metrics that are below the industry average for Electric Utilities. The company's gross profit for the year is 272,685,000, and its operating income is 169,225,000, which are indicators of its operational efficiency. Ormat's business is segmented into Electricity, Product, and Energy Storage. The Electricity segment is the largest contributor to its revenue, with the Product and Energy Storage segments also playing significant roles. The company's geographic exposure is primarily in the United States, with operations in other countries around the world. The company's growth trajectory is indicated by its revenue history, with the Electricity segment showing a slight decrease in revenue from 522,117,000 in 2024 to 507,263,000 in 2025. The Product segment has seen an increase in revenue from 100,018,000 in 2024 to 153,628,000 in 2025. The Energy Storage segment has also seen a significant increase in revenue from 26,778,000 in 2024 to 52,616,000 in 2025. The risk assessment for Ormat indicates a medium level of dilution risk, with the company having a debt-to-equity ratio of 0.0. The company's risk assessment also includes a flag for current liabilities exceeding current assets, which is a liquidity risk. The company's source documents mention the potential for dilution or offering risk, which is a concern for investors. Recent events for Ormat include the filing of its financial statements for the year, which show a net income of 123,898,000. The company has also been involved in the acquisition of power plants, which is expected to improve the profitability of its operations. The company's financial statements also show that it has applied the guidance in Accounting Standard Codification 606 to its transactions, which is a change in accounting standards.