Energy Vault Holdings, Inc. (NRGV) vs Ormat Technologies, Inc. (ORA)

Energy Vault Holdings, Inc. and Ormat Technologies, Inc. are both Utilities Renewable companies. Ormat Technologies, Inc. is the larger, with a market value of $5.7B against $781.9M — 7.3× the size. Energy Vault Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Ormat Technologies, Inc. trades at 45.0×. Energy Vault Holdings, Inc. grew revenue faster over the last twelve months: 336.8% against 31.1%. Ormat Technologies, Inc. has the higher net margin (10.7% vs −48.6%) and the higher return on invested capital (2.36% vs −32.5%). Across the 18 metrics below, Ormat Technologies, Inc. leads on 12 and Energy Vault Holdings, Inc. on 6.

Valuation

Metric NRGV ORA Utilities Renewable median
P/E n/m 45.01 18.99
P/S 3.47 4.84 2.58
P/B 114.29 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 4.07 6.94 5.43
Earnings yield (15.00%) 2.22% (12.46%)
Free cash flow yield (18.47%) (4.65%) (21.58%)

Profitability

Metric NRGV ORA Utilities Renewable median
Gross margin 22.47% 27.93% 41.45%
Operating margin (32.84%) 16.61% 0.00%
Net margin (48.58%) 10.66% (0.87%)
Free cash flow margin (64.08%) (22.28%) (9.23%)
Return on equity (225.87%) 4.73% 0.00%
Return on assets (35.43%) 1.98% (2.61%)
Return on invested capital (32.53%) 2.36% 0.00%

Growth

Metric NRGV ORA Utilities Renewable median
Revenue growth (TTM) 336.76% 31.13% 10.25%
EPS growth (last fiscal year) 28.57% (0.98%) —
Revenue growth, 5-year CAGR — 7.01% 6.29%
Net income growth, 5-year CAGR 0.00% 7.71% 0.00%

Health

Metric NRGV ORA Utilities Renewable median
Debt to equity 35.44 1.15 0.59
Current ratio 1.19 1.05 1.16
Net debt to EBITDA (0.46) 4.86 2.66

Dividend

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

Size

Metric NRGV ORA Utilities Renewable median
Market cap 781.91m 5.69b 239.67m

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