Ormat Technologies, Inc. (ORA) vs ReNew Energy Global PLC (RNW)

Ormat Technologies, Inc. and ReNew Energy Global PLC are both Utilities Renewable companies. Ormat Technologies, Inc. is the larger, with a market value of $5.7B against $2.5B — 2.3× the size. ReNew Energy Global PLC trades at the lower P/E: 21.7× against 45.0×. Ormat Technologies, Inc. grew revenue faster over the last twelve months: 31.1% against 11.9%. Ormat Technologies, Inc. has the higher net margin (10.7% vs 6.62%) and the lower return on invested capital (2.36% vs 6.79%). Across the 21 metrics below, ReNew Energy Global PLC leads on 13 and Ormat Technologies, Inc. on 8.

Valuation

Metric ORA RNW Utilities Renewable median
P/E 45.01 21.75 18.99
P/S 4.84 1.53 2.58
P/B 2.11 1.54 1.38
Price to free cash flow n/m n/m 5.71
EV/EBITDA 16.32 8.27 16.32
EV/Sales 6.94 6.00 5.43
Earnings yield 2.22% 4.60% (12.46%)
Free cash flow yield (4.65%) (11.03%) (21.58%)

Profitability

Metric ORA RNW Utilities Renewable median
Gross margin 27.93% 84.06% 41.45%
Operating margin 16.61% 59.41% 0.00%
Net margin 10.66% 6.62% (0.87%)
Free cash flow margin (22.28%) (16.86%) (9.23%)
Return on equity 4.73% 6.73% 0.00%
Return on assets 1.98% 0.95% (2.61%)
Return on invested capital 2.36% 6.79% 0.00%

Growth

Metric ORA RNW Utilities Renewable median
Revenue growth (TTM) 31.13% 11.87% 10.25%
EPS growth (last fiscal year) (0.98%) 123.08% —
Revenue growth, 5-year CAGR 7.01% 15.47% 6.29%
Net income growth, 5-year CAGR 7.71% 0.00% 0.00%

Health

Metric ORA RNW Utilities Renewable median
Debt to equity 1.15 5.15 0.59
Current ratio 1.05 0.43 1.16
Net debt to EBITDA 4.86 6.64 2.66

Dividend

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

Size

Metric ORA RNW Utilities Renewable median
Market cap 5.69b 2.50b 239.67m

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