debt_leverage_profile
1.12x Total Debt / Equity (Elevated leverage)
High
SEC-XBRL
interest_rate_sensitivity
High sensitivity; ~$1.4B long-term debt mostly fixed-rate, but project finance refinancing risk rises ~15-25bps per 100bps rate increase, pressuring IRR on new geothermal projects
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
1) Geothermal drilling equipment concentrated in Texas/Oklahoma oilfield suppliers; 2) Binary cycle turbine components sourced from Japan/Germany with long lead times
Inferred
Agent_Inference
international_expansion_readiness
Material exposure: Kenya (KES ~60% of international revenue, historically volatile), Guatemala (GTQ moderate), Honduras (HNL moderate devaluation risk); hedging limited
Inferred
Agent_Inference
geographic_footprint
Kenya (~30% international revenue, KES devaluation risk), Guatemala (GTQ), Honduras (HNL); USD-denominated PPA contracts partially mitigate but not fully hedge currency risk
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Moderate; Ormat designs proprietary binary-cycle power units internally, reducing single-vendor risk, but relies on specialized drilling contractors with limited substitutability
Inferred
Agent_Inference
business_model_type_primary
Minimal cloud dependency; operations are physical power plant infrastructure; cloud termination would disrupt SCADA/monitoring but plants continue generating electricity
Inferred
Agent_Inference
business_model_type_secondary
Secondary product segment (Ormat Systems equipment sales) similarly low cloud dependency; manufacturing and engineering are on-premise intensive
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; operational technology is proprietary SCADA systems; minimal third-party API dependency in core power generation operations
Inferred
Agent_Inference
howey_test_risk_index
Very low; revenue derived from electricity sales under PPAs and equipment sales — clearly utility/manufacturing business model, not an investment contract
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low-moderate; limited consumer data handling; operational data across Kenya, Guatemala, Honduras subject to local data regulations but no material GDPR/CCPA exposure
Inferred
Agent_Inference
antitrust_exposure_flag
Low; geothermal is niche renewable segment with limited market share; competes against broader renewable and conventional power markets with no monopoly concern
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~85% recurring (long-term 20-30 year PPAs with utilities); ~15% transactional (Ormat Systems equipment sales); highly predictable contracted revenue base
Inferred
Agent_Inference
monetization_vector
Electricity sales under long-term PPAs (~75% revenue) plus equipment/engineering sales (~15%) and recovered energy generation (~10%); utility-style contracted cash flows
Inferred
Agent_Inference
pricing_architecture
PPA-fixed pricing with escalators (CPI-linked in some contracts); stress scenario: inflation exceeding escalators compresses margins; fuel-cost-free model provides natural hedge
Inferred
Agent_Inference
pricing_power_rating
Moderate-High; PPAs lock in pricing but renewable energy credits and capacity payments provide upside; limited spot market exposure protects downside
Inferred
Agent_Inference
target_gross_margin_bracket
27.6% Gross Margin (Moderate (20-40%))
High
SEC-XBRL
churn_vulnerability_index
Negligible free-rider risk; electricity is metered and sold exclusively under binding PPAs; no free-tier or public-good leakage possible in utility model
Inferred
Agent_Inference
headcount_cost_structure
Sublinear; adding geothermal capacity requires upfront capital but minimal incremental headcount; O&M staff grows at ~0.3x revenue growth rate once plants operational
Inferred
Agent_Inference
marginal_cost_of_growth
Capital-intensive but operationally sublinear; incremental MW capacity has low marginal labor cost; primary constraint is drilling capital (~$4-6M per MW), not headcount
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; Ormat is not a franchise business model
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, PPA counterparty concentration risk increases; CAC effectively embedded in $500M+ project development costs; utility offtakers remain limited pool globally
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; geothermal power generation is a point-source physical asset; additional plants don't enhance value of existing plants
Inferred
Agent_Inference
asset_efficiency_ratio
1.8% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 1 recession-resistant; electricity demand is near-inelastic, PPAs are government/utility-backed take-or-pay contracts, providing stable revenue through economic downturns
Inferred
Agent_Inference
customer_segment_primary
Regulated electric utilities and government-owned power authorities (KPLC in Kenya, NV Energy, SCPPA in US) — high credit quality but concentrated offtaker base
Inferred
Agent_Inference
customer_segment_secondary
Industrial and municipal recovered energy generation customers; secondary segment via Ormat Systems equipment sales to international geothermal developers
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
62.6% CapEx / Revenue (High-CapEx Infrastructure)
High
SEC-XBRL
sec_cik
0001296445
High
SEC-EDGAR
ticker
ORA
High
SEC-EDGAR