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ORMAT TECHNOLOGIES, INC.（ORA）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
ORMAT TECHNOLOGIES, INC.的季度营收约是GIBRALTAR INDUSTRIES, INC.的1.2倍（$276.0M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 19.6%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $-40.0M），过去两年ORMAT TECHNOLOGIES, INC.的营收复合增速更高（11.0% vs -12.3%）
Ormat Technologies是总部位于美国内华达州里诺的跨国企业，主打可再生地热能源技术，累计建成超190座电站，总装机容量超3200兆瓦；截至2021年1月自主运营933兆瓦地热及余热回收电站，还向全球多国供应超千台涡轮增压器。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
ORA vs ROCK — 直观对比
营收规模更大
ORA
是对方的1.2倍
$225.0M
营收增速更快
ROCK
高出5.3%
19.6%
自由现金流更多
ROCK
多$66.3M
$-40.0M
两年增速更快
ORA
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $276.0M | $225.0M |
| 净利润 | $31.4M | — |
| 毛利率 | 28.6% | 25.3% |
| 营业利润率 | 15.4% | 7.9% |
| 净利率 | 11.4% | — |
| 营收同比 | 19.6% | 24.9% |
| 净利润同比 | -23.2% | — |
| 每股收益（稀释后） | $0.51 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ORAROCK
| Q4 25 | $276.0M | $225.0M | ||
| Q3 25 | $249.7M | $310.9M | ||
| Q2 25 | $234.0M | $309.5M | ||
| Q1 25 | $229.8M | $290.0M | ||
| Q4 24 | $230.7M | $180.1M | ||
| Q3 24 | $211.8M | $277.1M | ||
| Q2 24 | $213.0M | $273.6M | ||
| Q1 24 | $224.2M | $292.5M |
净利润ORAROCK
| Q4 25 | $31.4M | — | ||
| Q3 25 | $24.1M | $-89.1M | ||
| Q2 25 | $28.0M | $26.0M | ||
| Q1 25 | $40.4M | $21.1M | ||
| Q4 24 | $40.8M | — | ||
| Q3 24 | $22.1M | $34.0M | ||
| Q2 24 | $22.2M | $32.2M | ||
| Q1 24 | $38.6M | $24.9M |
毛利率ORAROCK
| Q4 25 | 28.6% | 25.3% | ||
| Q3 25 | 25.6% | 26.6% | ||
| Q2 25 | 24.3% | 28.4% | ||
| Q1 25 | 31.7% | 26.8% | ||
| Q4 24 | 31.9% | 29.0% | ||
| Q3 24 | 27.8% | 29.4% | ||
| Q2 24 | 28.8% | 30.5% | ||
| Q1 24 | 35.2% | 28.9% |
营业利润率ORAROCK
| Q4 25 | 15.4% | 7.9% | ||
| Q3 25 | 16.2% | 12.8% | ||
| Q2 25 | 15.1% | 12.8% | ||
| Q1 25 | 22.2% | 8.8% | ||
| Q4 24 | 21.3% | 13.3% | ||
| Q3 24 | 16.8% | 15.6% | ||
| Q2 24 | 16.5% | 14.9% | ||
| Q1 24 | 23.5% | 10.8% |
净利率ORAROCK
| Q4 25 | 11.4% | — | ||
| Q3 25 | 9.7% | -28.6% | ||
| Q2 25 | 12.0% | 8.4% | ||
| Q1 25 | 17.6% | 7.3% | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 10.4% | 12.3% | ||
| Q2 24 | 10.4% | 11.8% | ||
| Q1 24 | 17.2% | 8.5% |
每股收益（稀释后）ORAROCK
| Q4 25 | $0.51 | — | ||
| Q3 25 | $0.39 | $-2.98 | ||
| Q2 25 | $0.46 | $0.87 | ||
| Q1 25 | $0.66 | — | ||
| Q4 24 | $0.67 | — | ||
| Q3 24 | $0.36 | $1.11 | ||
| Q2 24 | $0.37 | $1.05 | ||
| Q1 24 | $0.64 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $147.4M | $115.7M |
| 总债务越低越好 | $2.7B | $0 |
| 股东权益账面价值 | $2.5B | $950.4M |
| 总资产 | $6.2B | $1.4B |
| 负债/权益比越低杠杆越低 | 1.05× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ORAROCK
| Q4 25 | $147.4M | $115.7M | ||
| Q3 25 | $79.6M | $89.4M | ||
| Q2 25 | $88.5M | $43.3M | ||
| Q1 25 | $112.7M | $25.1M | ||
| Q4 24 | $94.4M | $269.5M | ||
| Q3 24 | $88.1M | $228.9M | ||
| Q2 24 | $66.3M | $179.1M | ||
| Q1 24 | $201.5M | $146.7M |
总债务ORAROCK
| Q4 25 | $2.7B | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $2.3B | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益ORAROCK
| Q4 25 | $2.5B | $950.4M | ||
| Q3 25 | $2.5B | $951.8M | ||
| Q2 25 | $2.5B | $1.0B | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | $2.4B | $1.0B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.4B | $975.7M | ||
| Q1 24 | $2.4B | $940.2M |
总资产ORAROCK
| Q4 25 | $6.2B | $1.4B | ||
| Q3 25 | $6.1B | $1.4B | ||
| Q2 25 | $6.0B | $1.5B | ||
| Q1 25 | $5.8B | $1.4B | ||
| Q4 24 | $5.7B | $1.4B | ||
| Q3 24 | $5.6B | $1.4B | ||
| Q2 24 | $5.5B | $1.4B | ||
| Q1 24 | $5.5B | $1.3B |
负债/权益比ORAROCK
| Q4 25 | 1.05× | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 0.97× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $105.0M | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $-40.0M | $26.2M |
| 自由现金流率自由现金流/营收 | -14.5% | 11.7% |
| 资本支出强度资本支出/营收 | 52.6% | 4.1% |
| 现金转化率经营现金流/净利润 | 3.35× | — |
| 过去12个月自由现金流最近4个季度 | $-284.7M | $120.6M |
8季度趋势，按日历期对齐
经营现金流ORAROCK
| Q4 25 | $105.0M | $35.5M | ||
| Q3 25 | $45.2M | $73.0M | ||
| Q2 25 | $96.9M | $44.9M | ||
| Q1 25 | $88.0M | $13.7M | ||
| Q4 24 | $158.6M | $19.9M | ||
| Q3 24 | $106.4M | $64.7M | ||
| Q2 24 | $30.7M | $36.5M | ||
| Q1 24 | $115.2M | $53.2M |
自由现金流ORAROCK
| Q4 25 | $-40.0M | $26.2M | ||
| Q3 25 | $-102.1M | $64.8M | ||
| Q2 25 | $-37.9M | $27.3M | ||
| Q1 25 | $-104.6M | $2.3M | ||
| Q4 24 | $30.9M | $14.1M | ||
| Q3 24 | $-3.3M | $60.5M | ||
| Q2 24 | $-116.1M | $33.5M | ||
| Q1 24 | $11.8M | $48.8M |
自由现金流率ORAROCK
| Q4 25 | -14.5% | 11.7% | ||
| Q3 25 | -40.9% | 20.8% | ||
| Q2 25 | -16.2% | 8.8% | ||
| Q1 25 | -45.5% | 0.8% | ||
| Q4 24 | 13.4% | 7.8% | ||
| Q3 24 | -1.6% | 21.8% | ||
| Q2 24 | -54.5% | 12.2% | ||
| Q1 24 | 5.3% | 16.7% |
资本支出强度ORAROCK
| Q4 25 | 52.6% | 4.1% | ||
| Q3 25 | 59.0% | 2.6% | ||
| Q2 25 | 57.6% | 5.7% | ||
| Q1 25 | 83.8% | 3.9% | ||
| Q4 24 | 55.4% | 3.3% | ||
| Q3 24 | 51.8% | 1.5% | ||
| Q2 24 | 69.0% | 1.1% | ||
| Q1 24 | 46.1% | 1.5% |
现金转化率ORAROCK
| Q4 25 | 3.35× | — | ||
| Q3 25 | 1.87× | — | ||
| Q2 25 | 3.45× | 1.73× | ||
| Q1 25 | 2.18× | 0.65× | ||
| Q4 24 | 3.89× | — | ||
| Q3 24 | 4.82× | 1.90× | ||
| Q2 24 | 1.38× | 1.13× | ||
| Q1 24 | 2.99× | 2.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ORA
| Electricity | $186.6M | 68% |
| Products | $63.1M | 23% |
| Energy Storage Segment | $26.3M | 10% |
| Product Segment | $1.2M | 0% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
