Ormat Technologies Inc (ORA)
Debt-to-equity 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-equity ratio | 0.00 | 0.00 | 0.00 | 0.76 | 0.73 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $2,315,430K
= 0.00
The debt-to-equity ratio of Ormat Technologies Inc has shown some fluctuations over the past five years. In 2023, the company's debt-to-equity ratio was 0.90, indicating that the company had $0.90 of debt for every $1 of equity. This represents a decrease from the ratio of 1.09 in 2022 and 1.03 in 2021, suggesting a relatively lower reliance on debt financing in 2023 compared to the prior two years.
However, the 2023 ratio is still higher than the 0.81 in 2020 and matches the 0.90 ratio in 2019. This indicates that while Ormat Technologies Inc has reduced its debt levels compared to the previous two years, the company's debt position in 2023 remains similar to that of 2019. Overall, the trend in the debt-to-equity ratio suggests that Ormat Technologies Inc has managed its debt levels to some extent in 2023, but continued monitoring is necessary to assess the company's overall capital structure and financial risk.
Peer comparison
Dec 31, 2023