ORN Industrials

Orion Group Holdings, Inc.

$8.82+3.76%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 357.2M USD
Enterprise value: 441.7M USD
Full-time employees: 2,076

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.43 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.43 vs peers 0.64)

Ranks #2,089 of 2,308 industrials companies (bottom 10%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Orion reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Shareholders being diluted. Shares outstanding up 26% from December 2022 to July 2026.
Orion had 26% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Orion had 26% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Thin margins. Operating margin 0.9% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 0.9% vs peers 7.7%.
Orion keeps 0.9% of revenue as operating profit, less than most peers (median 7.7%), leaving less room if costs rise.
More volatile share price. Beta 1.43: tends to move more than the market.
Orion's shares have swung more with the market than most peers' (beta 1.43, above the market's 1.0).

StockQuotient Score

24/ 100

Oct 5 24 → Nov 4 24

Valuation

Is the price right?

28/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ FCF yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.94Sector median: 0.0377 · MAD: 0.0294

EBITDA yield5.6%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.32Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-5.2%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield46.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

28/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-66.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.95Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth7.6%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.54Sector median: 0.0421 · MAD: 0.0625

Revenue growth7.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.35Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

20/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin0.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.34Sector median: 0.0773 · MAD: 0.0507

Return on assets0.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.99Sector median: 0.0311 · MAD: 0.0241

Return on invested capital2.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.83Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin11.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity2.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating profit now covers interest only 1.1x

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.43

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.86Sector median: 0.6440 · MAD: 0.2745

Current ratio1.52×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.18Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.60×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.60Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Orion

Is Orion getting weaker?: Its latest SEC filing (Jul 29, 2026) got weaker in some ways: operating profit now covers interest only 1.1x. Its overall score is unchanged at 24/100 since Oct 28, 2026.
How is Orion valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 28/100 against 2,459 industrials peers. Free cash flow yield -5.2% vs a peer median of 3.7% (weaker than 100% of peers).Free cash flow yield -5.2% vs peers 3.7% (weaker than 100% of peers).
Is Orion growing?: More slowly than most of its peers. Growth scores 28/100 against 2,459 industrials peers. 3-year revenue growth 7.6% vs a peer median of 4.2% (stronger than 64% of peers).3-year revenue growth 7.6% vs peers 4.2% (stronger than 64% of peers). Earnings per share growth -66.1% vs a peer median of 7.1% (weaker than 95% of peers).Earnings per share growth -66.1% vs peers 7.1% (weaker than 95% of peers).
How profitable is Orion?: Less profitable than most of its peers. Profitability scores 20/100 against 2,459 industrials peers. Operating margin 0.9% vs a peer median of 7.7% (weaker than 84% of peers).Operating margin 0.9% vs peers 7.7% (weaker than 84% of peers).
How risky is Orion?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.43 vs a peer median of 0.64 (weaker than 92% of peers).Beta 1.43 vs peers 0.64 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 29, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Operating profit now covers interest only 1.1x

	Previous quarter	Latest quarter	Change
Revenue (12 months)	879.9M USD	896.5M USD	+1.9%
Net income (12 months)	8.6M USD	3.6M USD	−58.1%
Operating margin	1.5%	0.9%	−0.6 pts
Free cash flow (12 months)	−2.0M USD	−18.4M USD	+835.7%
Debt	72.2M USD	99.2M USD	+37.4%
Cash	6.3M USD	2.5M USD	−59.6%
Shares outstanding	40.5M	40.5M	+0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	6.8%	6.8%	8.7%	11.4%	12.4%	▲ 0.9 pts
Operating margin	-1.5%	-1.1%	-0.9%	1.4%	1.7%	▲ 0.3 pts
Net margin	-2.4%	-1.7%	-2.5%	-0.2%	0.3%	▲ 0.5 pts
Return on assets (ROA)	-4.1%	-3.4%	-4.3%	-0.4%	0.6%	▲ 1.0 pts
Return on equity (ROE)	-9.8%	-9.2%	-14.7%	-1.1%	1.6%	▲ 2.7 pts
Free cash flow margin	-2.8%	-0.7%	1.2%	-0.2%	-1.3%	▼ 1.1 pts
Current ratio	1.22×	1.16×	1.26×	1.41×	1.36×	▼ 3.2%
Quick ratio	1.21×	1.15×	1.25×	1.40×	1.35×	▼ 3.3%
Debt to equity	0.27×	0.26×	0.31×	0.15×	0.05×	▼ 68%
Interest coverage	-1.84×	-1.80×	-0.57×	0.86×	1.65×	▲ 91%

ORN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.43 vs a peer median of 0.64)higher risk: bigger price swings (beta 1.43 vs peers 0.64)

Ranks #2,089 of 2,308 industrials companies (bottom 10%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Orion reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Shareholders being diluted. Shares outstanding up 26% from December 2022 to July 2026.

Orion had 26% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Orion had 26% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Thin margins. Operating margin 0.9% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 0.9% vs peers 7.7%.

Orion keeps 0.9% of revenue as operating profit, less than most peers (median 7.7%), leaving less room if costs rise.

More volatile share price. Beta 1.43: tends to move more than the market.

Orion's shares have swung more with the market than most peers' (beta 1.43, above the market's 1.0).

Questions investors ask about Orion

Is Orion getting weaker?

Its latest SEC filing (Jul 29, 2026) got weaker in some ways: operating profit now covers interest only 1.1x. Its overall score is unchanged at 24/100 since Oct 28, 2026.

How is Orion valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 28/100 against 2,459 industrials peers. Free cash flow yield -5.2% vs a peer median of 3.7% (weaker than 100% of peers).Free cash flow yield -5.2% vs peers 3.7% (weaker than 100% of peers).

Is Orion growing?

More slowly than most of its peers. Growth scores 28/100 against 2,459 industrials peers. 3-year revenue growth 7.6% vs a peer median of 4.2% (stronger than 64% of peers).3-year revenue growth 7.6% vs peers 4.2% (stronger than 64% of peers). Earnings per share growth -66.1% vs a peer median of 7.1% (weaker than 95% of peers).Earnings per share growth -66.1% vs peers 7.1% (weaker than 95% of peers).

How profitable is Orion?

Less profitable than most of its peers. Profitability scores 20/100 against 2,459 industrials peers. Operating margin 0.9% vs a peer median of 7.7% (weaker than 84% of peers).Operating margin 0.9% vs peers 7.7% (weaker than 84% of peers).

How risky is Orion?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.43 vs a peer median of 0.64 (weaker than 92% of peers).Beta 1.43 vs peers 0.64 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

879.9M USD

896.5M USD

+1.9%

Net income (12 months)

8.6M USD

3.6M USD

−58.1%

Operating margin

1.5%

0.9%

−0.6 pts

Free cash flow (12 months)

−2.0M USD

−18.4M USD

+835.7%

Debt

72.2M USD

99.2M USD

+37.4%

Cash

6.3M USD

2.5M USD

−59.6%

Shares outstanding

40.5M

40.5M

+0.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

6.8%

8.7%

11.4%

12.4%

▲ 0.9 pts

Operating margin

-1.5%

-1.1%

-0.9%

1.4%

1.7%

▲ 0.3 pts

Net margin

-2.4%

-1.7%

-2.5%

-0.2%

0.3%

▲ 0.5 pts

Return on assets (ROA)

-4.1%

-3.4%

-4.3%

-0.4%

0.6%

▲ 1.0 pts

Return on equity (ROE)

-9.8%

-9.2%

-14.7%

-1.1%

1.6%

▲ 2.7 pts

Free cash flow margin

-2.8%

-0.7%

1.2%

-0.2%

-1.3%

▼ 1.1 pts

Current ratio

1.22×

1.16×

1.26×

1.41×

1.36×

▼ 3.2%

Quick ratio

1.21×

1.15×

1.25×

1.40×

1.35×

▼ 3.3%

Debt to equity

0.27×

0.26×

0.31×

0.15×

0.05×

▼ 68%

Interest coverage

-1.84×

-1.80×

-0.57×

0.86×

1.65×

▲ 91%