ORA vs RNW: Ormat Technologies and Renew Energy Global compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Ormat Technologies is the larger company, worth $5.4B, about 2.0 times Renew Energy Global.
- Renew Energy Global grew revenue faster over the last year (+19.4% vs +10.6%).
- Ormat Technologies keeps more of each dollar of revenue as operating profit (16.6% vs 10.4%).
- On earnings, Renew Energy Global is the cheaper stock (26.5x vs 42.1x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ORA | RNW |
|---|---|---|
| Market cap | $5.4B | $2.7B |
| Share price | $88.92 | $6.88 |
| Revenue (last fiscal year) | $990M | $97.1B |
| Free cash flow (last fiscal year) | -$285M | -$26.1B |
| Revenue growth, last year | +10.6% | +19.4% |
| Revenue growth per year, last 5 fiscal years | +10.5% | +15.5% |
| Operating margin | 16.6% | 10.4% |
| Net margin | 10.7% | 3.9% |
| Return on equity | 4.9% | 3.4% |
| P/E (trailing) | 42.1x | 26.5x |
| Price / free cash flow | — | — |
| EV / EBITDA | 14.6x | 8.57x |
| FCF growth the price implies | — | — |
| Dividend yield | 0.56% | — |
| Debt / equity | 1.56x | 7.36x |
| Fundamental grade | D | D |
| Superinvestors holding it | 3 | 1 |
| 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.
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% |
Renew Energy Global
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $54.5B | $7.6B | -9.3% |
| 2022 | $59.3B | -$47.4B | -20.6% |
| 2023 | $78.2B | -$20.8B | -3.3% |
| 2024 | $81.3B | -$84.9B | 10.2% |
| 2025 | $97.1B | -$26.1B | 10.4% |
Where the revenue comes from
Ormat Technologies · by segments, 2025
Electricity$694M70%
Product$217M22%
Energy storage$79M8%
Renew Energy Global · by products, 2026
Sale of Power$88.2B67%
Sale of Solar Modules and Related Products$40.8B31%
Sale of software services$1.7B1%
Transmission Line Projects$1.1B1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ORA in InvestinglyQuestions
Which is bigger, Ormat Technologies or Renew Energy Global?
Ormat Technologies (ORA), at $5.4B against $2.7B.
Is ORA or RNW cheaper?
By trailing P/E, Renew Energy Global (26.5x) is cheaper than Ormat Technologies (42.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, ORA or RNW?
Renew Energy Global: revenue grew +19.4% 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.