Ormat Technologies Inc (ORA)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	296,382	975,973	1,005,160	1,377,210	1,375,370	1,106,930	995,959	1,011,930	1,030,940	1,116,420	1,111,700
Total stockholders’ equity	US$ in thousands	2,315,430	2,278,830	2,254,390	2,184,540	1,867,570	1,846,500	1,832,630	1,870,670	1,855,000	1,833,380	1,825,080	1,816,610	1,805,980	1,439,740	1,428,400	1,409,060	1,392,420	1,380,730	1,369,560	1,340,350
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.16	0.53	0.55	0.76	0.96	0.77	0.71	0.73	0.75	0.82	0.83

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $2,315,430K
= 0.00

Ormat Technologies Inc's debt-to-equity ratio has shown some fluctuations over the past eight quarters. The ratio decreased from 1.09 in Q4 2022 to 0.90 in Q4 2023, indicating a reduction in the company's reliance on debt financing relative to equity during this period.

However, it is important to note that the ratio increased to 1.12 in Q2 2022 before gradually declining in the subsequent quarters. This might suggest that Ormat Technologies Inc experienced some fluctuations in its capital structure during the earlier parts of the period under review.

Overall, the debt-to-equity ratio for Ormat Technologies Inc ranged from 0.87 to 1.12, with an average ratio of approximately 0.98 over the eight quarters. This indicates that the company has maintained a relatively balanced mix of debt and equity in its capital structure during this timeframe. Further analysis and comparison with industry benchmarks would be beneficial to assess the company's financial leverage position comprehensively.