ENLT vs ORA: Enlight Renewable Energy and Ormat Technologies compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Enlight Renewable Energy is the larger company, worth $8.7B, about 1.6 times Ormat Technologies.
- Enlight Renewable Energy grew revenue faster over the last year (+29.3% vs +10.6%).
- Enlight Renewable Energy keeps more of each dollar of revenue as operating profit (68.0% vs 16.6%).
- On earnings, Ormat Technologies is the cheaper stock (42.1x vs 67.4x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ENLT | ORA |
|---|---|---|
| Market cap | $8.7B | $5.4B |
| Share price | $67.41 | $88.92 |
| Revenue (last fiscal year) | $489M | $990M |
| Free cash flow (last fiscal year) | -$1.5B | -$285M |
| Revenue growth, last year | +29.3% | +10.6% |
| Revenue growth per year, last 5 fiscal years | +47.8% | +10.5% |
| Operating margin | 68.0% | 16.6% |
| Net margin | 27.0% | 10.7% |
| Return on equity | 7.8% | 4.9% |
| P/E (trailing) | 67.4x | 42.1x |
| Price / free cash flow | — | — |
| EV / EBITDA | 25.1x | 14.6x |
| FCF growth the price implies | — | — |
| Dividend yield | — | 0.56% |
| Debt / equity | 3.93x | 1.56x |
| Fundamental grade | D | D |
| Superinvestors holding it | 1 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Enlight Renewable Energy
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $102M | -$276M | 33.6% |
| 2022 | $192M | -$524M | 47.2% |
| 2023 | $256M | -$531M | 61.8% |
| 2024 | $378M | -$640M | 46.4% |
| 2025 | $489M | -$1.5B | 68.0% |
Ormat Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $663M | -$160M | 25.5% |
| 2022 | $734M | -$283M | 20.8% |
| 2023 | $829M | -$309M | 20.1% |
| 2024 | $880M | -$77M | 19.6% |
| 2025 | $990M | -$285M | 17.1% |
Where the revenue comes from
Enlight Renewable Energy
No segment breakdown reported.
Ormat Technologies · by segments, 2025
Electricity$694M70%
Product$217M22%
Energy storage$79M8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ENLT in InvestinglyQuestions
Which is bigger, Enlight Renewable Energy or Ormat Technologies?
Enlight Renewable Energy (ENLT), at $8.7B against $5.4B.
Is ENLT or ORA cheaper?
By trailing P/E, Ormat Technologies (42.1x) is cheaper than Enlight Renewable Energy (67.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, ENLT or ORA?
Enlight Renewable Energy: revenue grew +29.3% over the last year, against +10.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.