Fluence Energy, Inc. (FLNC) vs Ormat Technologies, Inc. (ORA)

Fluence Energy, Inc. and Ormat Technologies, Inc. are both Utilities Renewable companies. Ormat Technologies, Inc. is the larger, with a market value of $5.7B against $1.4B — 4.1× the size. Fluence Energy, Inc. has negative trailing earnings, so its P/E is not meaningful; Ormat Technologies, Inc. trades at 45.0×. Ormat Technologies, Inc. grew revenue faster over the last twelve months: 31.1% against 7.46%. Ormat Technologies, Inc. has the higher net margin (10.7% vs −3.07%) and the higher return on invested capital (2.36% vs −15.2%). Across the 19 metrics below, Ormat Technologies, Inc. leads on 13 and Fluence Energy, Inc. on 6.

Valuation

Metric FLNC ORA Utilities Renewable median
P/E n/m 45.01 18.99
P/S 0.41 4.84 2.58
P/B 2.51 2.11 1.38
Price to free cash flow n/m n/m 5.71
EV/EBITDA n/m 16.32 16.32
EV/Sales 0.43 6.94 5.43
Earnings yield (7.64%) 2.22% (12.46%)
Free cash flow yield (12.16%) (4.65%) (21.58%)

Profitability

Metric FLNC ORA Utilities Renewable median
Gross margin 9.34% 27.93% 41.45%
Operating margin (4.23%) 16.61% 0.00%
Net margin (3.07%) 10.66% (0.87%)
Free cash flow margin (5.01%) (22.28%) (9.23%)
Return on equity (16.99%) 4.73% 0.00%
Return on assets (3.45%) 1.98% (2.61%)
Return on invested capital (15.19%) 2.36% 0.00%

Growth

Metric FLNC ORA Utilities Renewable median
Revenue growth (TTM) 7.46% 31.13% 10.25%
EPS growth (last fiscal year) (384.62%) (0.98%) —
Revenue growth, 5-year CAGR 32.16% 7.01% 6.29%
Net income growth, 5-year CAGR 0.00% 7.71% 0.00%

Health

Metric FLNC ORA Utilities Renewable median
Debt to equity 0.91 1.15 0.59
Current ratio 1.34 1.05 1.16
Net debt to EBITDA 25.34 4.86 2.66

Dividend

Metric FLNC ORA Utilities Renewable median
Dividend yield — 0.76% 5.61%
Payout ratio 0.00 0.31 0.00

Size

Metric FLNC ORA Utilities Renewable median
Market cap 1.39b 5.69b 239.67m

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