Ormat Technologies Inc (ORA)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | 1,377,210 | 1,011,930 |
| Total stockholders’ equity | US$ in thousands | 2,315,430 | 1,867,570 | 1,855,000 | 1,805,980 | 1,392,420 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.43 | 0.42 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,315,430K)
= 0.00
The debt-to-capital ratio of Ormat Technologies Inc has shown some fluctuation over the past five years. In 2023, the ratio stands at 0.47, which indicates that 47% of the company's capital structure is attributed to debt. This represents a slight decrease from the previous year's ratio of 0.52 and a return to a level similar to that of 2019. The company's debt-to-capital ratio has generally ranged between 0.45 and 0.52 over the period, suggesting a relatively balanced mix of debt and equity in its capital structure. The downward trend in 2023 may indicate efforts to reduce reliance on debt financing, although further analysis would be needed to assess the overall financial health and risk profile of the company.
Peer comparison
Dec 31, 2023