Eletrobras (EBR.B) vs Ormat Technologies, Inc. (ORA)

Eletrobras and Ormat Technologies, Inc. are both Utilities Renewable companies. Ormat Technologies, Inc. is the larger, with a market value of $5.7B against $2.6B — 2.2× the size. Eletrobras trades at the lower P/E: 14.7× against 45.0×. Ormat Technologies, Inc. grew revenue faster over the last twelve months: 31.1% against 10.3%. Eletrobras has the higher net margin (26.1% vs 10.7%) and the lower return on invested capital (2.18% vs 2.36%). Both pay a dividend; Eletrobras yields more (2.94% vs 0.76%). Across the 22 metrics below, Eletrobras leads on 14 and Ormat Technologies, Inc. on 8.

Valuation

Metric EBR.B ORA Utilities Renewable median
P/E 14.69 45.01 18.99
P/S 2.65 4.84 2.58
P/B 0.92 2.11 1.38
Price to free cash flow 10.53 n/m 5.71
EV/EBITDA 23.58 16.32 16.32
EV/Sales 3.81 6.94 5.43
Earnings yield 6.81% 2.22% (12.46%)
Free cash flow yield 9.49% (4.65%) (21.58%)

Profitability

Metric EBR.B ORA Utilities Renewable median
Gross margin 100.15% 27.93% 41.45%
Operating margin 13.70% 16.61% 0.00%
Net margin 26.10% 10.66% (0.87%)
Free cash flow margin 24.74% (22.28%) (9.23%)
Return on equity 9.76% 4.73% 0.00%
Return on assets 4.26% 1.98% (2.61%)
Return on invested capital 2.18% 2.36% 0.00%

Growth

Metric EBR.B ORA Utilities Renewable median
Revenue growth (TTM) 10.25% 31.13% 10.25%
EPS growth (last fiscal year) (30.04%) (0.98%) —
Revenue growth, 5-year CAGR 5.56% 7.01% 6.29%
Net income growth, 5-year CAGR (0.91%) 7.71% 0.00%

Health

Metric EBR.B ORA Utilities Renewable median
Debt to equity 0.59 1.15 0.59
Current ratio 2.05 1.05 1.16
Net debt to EBITDA 7.17 4.86 2.66

Dividend

Metric EBR.B ORA Utilities Renewable median
Dividend yield 2.94% 0.76% 5.61%
Payout ratio 1.53 0.31 0.00

Size

Metric EBR.B ORA Utilities Renewable median
Market cap 2.62b 5.69b 239.67m

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