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ORMAT TECHNOLOGIES, INC.（ORA）与T1 Energy Inc.（TE）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T1 Energy Inc.的1.3倍（$276.0M vs $210.5M），ORMAT TECHNOLOGIES, INC.净利率更高（11.4% vs -62.0%，领先73.4%），T1 Energy Inc.自由现金流更多（$55.0M vs $-40.0M）
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。
索尼能源设备株式会社是隶属于索尼集团设备事业部的全资子公司，是一家日本跨国企业，深耕能源产业多领域业务。该公司1975年2月在日本福岛成立，依托索尼的技术积累，在能源相关产品研发、生产及商业化方面具备行业领先实力。
ORA vs TE — 直观对比
营收规模更大
ORA
是对方的1.3倍
$210.5M
净利率更高
ORA
高出73.4%
-62.0%
自由现金流更多
TE
多$95.0M
$-40.0M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $276.0M | $210.5M |
| 净利润 | $31.4M | $-130.6M |
| 毛利率 | 28.6% | 10.0% |
| 营业利润率 | 15.4% | -45.0% |
| 净利率 | 11.4% | -62.0% |
| 营收同比 | 19.6% | — |
| 净利润同比 | -23.2% | -375.2% |
| 每股收益（稀释后） | $0.51 | $-0.87 |
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ORATE
| Q4 25 | $276.0M | — | ||
| Q3 25 | $249.7M | $210.5M | ||
| Q2 25 | $234.0M | $132.8M | ||
| Q1 25 | $229.8M | $53.5M | ||
| Q4 24 | $230.7M | — | ||
| Q3 24 | $211.8M | $0 | ||
| Q2 24 | $213.0M | $0 | ||
| Q1 24 | $224.2M | $0 |
净利润ORATE
| Q4 25 | $31.4M | — | ||
| Q3 25 | $24.1M | $-130.6M | ||
| Q2 25 | $28.0M | $-31.9M | ||
| Q1 25 | $40.4M | $-16.2M | ||
| Q4 24 | $40.8M | — | ||
| Q3 24 | $22.1M | $-27.5M | ||
| Q2 24 | $22.2M | $-27.0M | ||
| Q1 24 | $38.6M | $-28.5M |
毛利率ORATE
| Q4 25 | 28.6% | — | ||
| Q3 25 | 25.6% | 10.0% | ||
| Q2 25 | 24.3% | 24.7% | ||
| Q1 25 | 31.7% | 33.3% | ||
| Q4 24 | 31.9% | — | ||
| Q3 24 | 27.8% | — | ||
| Q2 24 | 28.8% | — | ||
| Q1 24 | 35.2% | — |
营业利润率ORATE
| Q4 25 | 15.4% | — | ||
| Q3 25 | 16.2% | -45.0% | ||
| Q2 25 | 15.1% | -22.0% | ||
| Q1 25 | 22.2% | -44.2% | ||
| Q4 24 | 21.3% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 23.5% | — |
净利率ORATE
| Q4 25 | 11.4% | — | ||
| Q3 25 | 9.7% | -62.0% | ||
| Q2 25 | 12.0% | -24.0% | ||
| Q1 25 | 17.6% | -30.4% | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 10.4% | — | ||
| Q2 24 | 10.4% | — | ||
| Q1 24 | 17.2% | — |
每股收益（稀释后）ORATE
| Q4 25 | $0.51 | — | ||
| Q3 25 | $0.39 | $-0.87 | ||
| Q2 25 | $0.46 | $-0.21 | ||
| Q1 25 | $0.66 | $-0.11 | ||
| Q4 24 | $0.67 | — | ||
| Q3 24 | $0.36 | $-0.20 | ||
| Q2 24 | $0.37 | $-0.19 | ||
| Q1 24 | $0.64 | $-0.20 |
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 | $34.1M |
| 总债务越低越好 | $2.7B | $547.3M |
| 股东权益账面价值 | $2.5B | $96.9M |
| 总资产 | $6.2B | $1.4B |
| 负债/权益比越低杠杆越低 | 1.05× | 5.65× |
8季度趋势，按日历期对齐
现金及短期投资ORATE
| Q4 25 | $147.4M | — | ||
| Q3 25 | $79.6M | $34.1M | ||
| Q2 25 | $88.5M | $8.5M | ||
| Q1 25 | $112.7M | $48.9M | ||
| Q4 24 | $94.4M | — | ||
| Q3 24 | $88.1M | $181.9M | ||
| Q2 24 | $66.3M | $219.6M | ||
| Q1 24 | $201.5M | $249.9M |
总债务ORATE
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | $547.3M | ||
| Q2 25 | — | $591.2M | ||
| Q1 25 | — | $603.2M | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $602.3M |
股东权益ORATE
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | $96.9M | ||
| Q2 25 | $2.5B | $183.9M | ||
| Q1 25 | $2.5B | $201.9M | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | $538.7M | ||
| Q2 24 | $2.4B | $561.6M | ||
| Q1 24 | $2.4B | $582.3M |
总资产ORATE
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.1B | $1.4B | ||
| Q2 25 | $6.0B | $1.4B | ||
| Q1 25 | $5.8B | $1.4B | ||
| Q4 24 | $5.7B | — | ||
| Q3 24 | $5.6B | $615.0M | ||
| Q2 24 | $5.5B | $644.4M | ||
| Q1 24 | $5.5B | $670.3M |
负债/权益比ORATE
| Q4 25 | 1.05× | — | ||
| Q3 25 | — | 5.65× | ||
| Q2 25 | — | 3.21× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | 0.97× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.03× |
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 | $63.9M |
| 自由现金流经营现金流 - 资本支出 | $-40.0M | $55.0M |
| 自由现金流率自由现金流/营收 | -14.5% | 26.1% |
| 资本支出强度资本支出/营收 | 52.6% | 4.2% |
| 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 | $-42.3M |
8季度趋势，按日历期对齐
经营现金流ORATE
| Q4 25 | $105.0M | — | ||
| Q3 25 | $45.2M | $63.9M | ||
| Q2 25 | $96.9M | $33.4M | ||
| Q1 25 | $88.0M | $-44.8M | ||
| Q4 24 | $158.6M | — | ||
| Q3 24 | $106.4M | $-28.4M | ||
| Q2 24 | $30.7M | $-28.0M | ||
| Q1 24 | $115.2M | $-16.2M |
自由现金流ORATE
| Q4 25 | $-40.0M | — | ||
| Q3 25 | $-102.1M | $55.0M | ||
| Q2 25 | $-37.9M | $10.6M | ||
| Q1 25 | $-104.6M | $-74.0M | ||
| Q4 24 | $30.9M | — | ||
| Q3 24 | $-3.3M | $-34.0M | ||
| Q2 24 | $-116.1M | $-35.6M | ||
| Q1 24 | $11.8M | $-37.7M |
自由现金流率ORATE
| Q4 25 | -14.5% | — | ||
| Q3 25 | -40.9% | 26.1% | ||
| Q2 25 | -16.2% | 8.0% | ||
| Q1 25 | -45.5% | -138.4% | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | -1.6% | — | ||
| Q2 24 | -54.5% | — | ||
| Q1 24 | 5.3% | — |
资本支出强度ORATE
| Q4 25 | 52.6% | — | ||
| Q3 25 | 59.0% | 4.2% | ||
| Q2 25 | 57.6% | 17.2% | ||
| Q1 25 | 83.8% | 54.5% | ||
| Q4 24 | 55.4% | — | ||
| Q3 24 | 51.8% | — | ||
| Q2 24 | 69.0% | — | ||
| Q1 24 | 46.1% | — |
现金转化率ORATE
| Q4 25 | 3.35× | — | ||
| Q3 25 | 1.87× | — | ||
| Q2 25 | 3.45× | — | ||
| Q1 25 | 2.18× | — | ||
| Q4 24 | 3.89× | — | ||
| Q3 24 | 4.82× | — | ||
| Q2 24 | 1.38× | — | ||
| Q1 24 | 2.99× | — |
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% |
TE
| Related Party | $120.1M | 57% |
| Nonrelated Party | $90.4M | 43% |
