Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price89.66 USD
Fair value84.54
Ethical score70.0/100
Our investment reviews on this name
2026-08-07Read Distribution107.38-16.5% to today ✓
2026-07-02Read Markup138.16-35.1% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Ormat Technologies, Inc. holds its Distribution at $89.66. Consolidating, no directional conviction, held for 19 days.
As held on the ledger · 2026-10-01
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 19 days
Price at the screen
$89.66
Valuation
43.95 trailing · 34.85 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.90
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
45.74%
Below 33%
Interest-bearing debt is 45.7% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
5.00%
Below 49%
Money owed to the company is 5.0% of assets, under the 49% limit.
Pass
Revenue purity
0.61%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Ormat Technologies,'s business is in a permissible area, but its interest-bearing debt is about 46% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-10-01 screen. The gold marker is the market price at the same screen. The price runs 5.7% above the base estimate.
Third-party analyst targets: 12 covering, consensus Buy. The average target sits +46% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-01 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Geothermal power draws interest yet commands too high a price
Picture a company turning volcanic heat into electricity across distant sites from Kenya to Indonesia. Ormat clears the ethical screen with its focus on renewable baseload generation. Yet the shares sit 19% above our fair value of 85.15 dollars while trading on a forward multiple of 41.5 times earnings, a level that leaves little room for the modest 11% profit margin and 5% return on equity already on show.
Revenue has jumped 76% but the market appears to have priced in flawless execution. Twelve analysts still carry a buy rating with a 132 dollar median target, yet those forecasts sit well clear of the cash generation and capital intensity visible in the numbers. Low returns on equity suggest the growth may not compound for owners at anything like the rate the valuation assumes.
Execution across emerging markets brings currency swings, permitting delays and resource risk that a high multiple does not cushion. The business is sound on paper, but the entry price turns a reasonable enterprise into an expensive one. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ORA trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Distribution$89.66-15.6%Entry 6
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 15.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (11 analysts) rates it buy, with a mean price target of $135.
2026-09-08Distribution$106.24-1.1%Entry 5
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (11 analysts) rates it buy, with a mean price target of $135.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 22.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (11 analysts) rates it buy, with a mean price target of $135.
2026-07-18Markup$138.16+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 74%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (11 analysts) rates it buy, with a mean price target of $135.
2026-07-03Markup$138.16+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$138.16Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
