Orion Group Holdings Inc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Orion Group Holdings Inc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue		579	521	708	710	601	748	712	796	852
Cost of revenue		516	504	644	625	560	698	650	705	747
Gross profit	67.5	62.2	16.8	64	84.7	41	50.7	61.7	91.2	106
Selling, general and administrative	65	56.6	53.2	61	65.1	60.2	62.5	69.4	82.5	93.5
Operating income	4.07	1.54	-101	2.19	26.6	-9.32	-8.03	-6.63	11.5	14.6
Interest expense	6.18	5.73	7.94	6.81	4.92	5.08	4.46	11.7	13.4	8.86
Other non-operating income	0.06	-5.68	-6.12	-5.68	-4.39	-4.74	-4.15	-10.9	-12.8	-11.7
Pre-tax income	-2.04	-4.14	-107	-3.49	22.2	-14.1	-12.2	-17.5	-1.3	2.91
Income tax	1.58	-4.54	-12.2	1.87	1.98	0.5	0.43	0.33	0.35	0.42
Net income	-3.62	0.4	-94.4	-5.36	20.2	-14.6	-12.6	-17.9	-1.64	2.49
EBITDA	38.2	31	-68.7	28.3	50.5	13.3	12.9	12.2	27.1	28.3
EPS, basic	-0.13	0.01	-3.31	-0.18	0.67	-0.47	-0.40	-0.55	-0.05	0.06
EPS, diluted	-0.13	0.01	-3.31	-0.18	0.67	-0.47	-0.40	-0.55	-0.05	0.06
Shares, basic (weighted)	27.5	28	28.5	29.3	30.1	30.8	31.4	32.3	34.8	39.6
Shares, diluted (weighted)	27.5	28.4	28.5	29.3	30.1	30.8	31.4	32.3	34.8	39.6

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.31	9.09	8.68	0.13	1.59	12.3	3.78	30.9	28.3	1.59
Inventory	5.39	4.39	1.06	1.11	1.55	1.43	2.86	2.7	1.97	2.43
Other current assets	3.89	4.12	5	5.65	7.23	8.14	8.23	8.89	9.08	12.7
Total current assets	195	192	137	212	235	198	220	272	269	278
Property, plant and equipment	158	146	148	132	125	107	101	87.8	86.1	88.2
Lease right-of-use assets			0	18	18.9	14.7	15	25.7	27.1	20.4
Goodwill	66.4	69.5	0
Intangible assets	22	18.2	14.8	12.1	10.1	8.56	7.32	0
Other non-current assets	1.37	2.65	5.43	5.37	4.96	3.9	2.17	1.56	1.33	3.13
Total assets	448	433	313	395	414	352	367	417	417	415
Accounts payable	49.1	45.2	42	70.4	48.3	48.2	87.6	80.3	97.1	107
Accrued liabilities	19.9	17.9	18.8	17	84.6	38.6	18.5	37.1	26.3	31.8
Deferred revenue		33.9	21.8	48.8	33.1	27	37.7	64.1	47.4	49.1
Short-term debt	19.2	22.8	2.95	3.67	4.34	39.1	35	13.5	0.43	1.79
Total current liabilities	118	122	86.3	150	181	162	189	216	191	204
Long-term debt	82.1	63.2	76.1	68	29.5	0.26	0.72	23.7	22.8	6.09
Lease liabilities			0	13.6	14.5	11.6	11	16.6	20.8	24.7
Other non-current liabilities	2.49	3.57	8.76	20.4	19.8	18.9	17.1	25.3	20.5	15.1
Total liabilities	221	202	171	257	255	204	229	295	267	256
Total debt	101	85.9	79.1	71.7	33.9	39.4	35.7	37.2	23.2	7.87
Paid-in capital	171	175	180	183	184	186	188	190	221	226
Retained earnings	61.8	62.8	-31.9	-37.2	-17	-31.6	-44.2	-62	-63.7	-61.2
Treasury stock	-6.54	-6.54	-6.54	-6.54	-6.54	-6.54	-6.54	-6.54	-6.54	-6.54
Other comprehensive income	-0.38	-0.03	-0.05	-1.05	-1.6
Shareholders' equity	226	231	142
Total equity	226	231	142	138	159	148	138	121	151	159
Total liabilities and equity	448	433	313	395	414	352	367	417	417	415
Shares outstanding	27.7	28.1	28.9	29.6	30.5	31	32.1	32.5	39	39.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-3.62	0.4	-94.4	-5.36	20.2	-14.6	-12.6	-17.9	-1.64	2.49
Depreciation and amortization	34.2	29.5	31.8	26.1	23.9	22.6	20.9	18.8	15.5	13.7
Stock-based compensation	2.28	2.3	2.24	2.75	2	2.4	2.75	2.04	4.01	5.45
Deferred income tax	0.75	-4.17	-13.2	0.07	0.02	-0.01	0.01	-0.1	-0.03	0.05
Change in receivables	-23.9	15	10.9	-51.7	23.6	4.7	-28.7	14.1	1.89	-86.3
Change in inventory	1.7	0.09	0.65	0.5	0.15	0.37	-1.49	-0.73	-0.55	0.79
Change in payables	-5.72	-5.67	-4.58	28.9	-22	0.59	39.4	-4.51	16	11.1
Cash from operations	23.1	34.1	21.9	-0.72	46	0.07	9.57	17.2	12.7	28.1
Capital expenditures	-18.7	-10.7	-17.7	-17.2	-14.7	-17	-14.6	-8.91	-14.1	-38.9
Acquisitions	-0.37	-6	0	0
Cash from investing	-17.7	-10.1	-13.3	-13.3	-3.13	10.6	-9.7	2.17	-11.5	-13.7
Debt repaid	0	0	-48.1	-70.2	-48.2	-49.1	-28.3	-104	-15	-23
Stock issued	0.07	1.32	2.82	0.04		0.11			26.4
Share buybacks	0	0			-0.19
Cash from financing	-6.5	-15.3	-9.03	6.45	-42.4	0.01	-8.37	7.81	-3.82	-39.4
Net change in cash	-1.04	8.78	-0.4	-7.6	0.5	10.7	-8.51	27.2	-2.62	-25
Free cash flow	4.43	23.4	4.22	-17.9	31.3	-16.9	-5.02	8.27	-1.42	-10.8
Interest paid	5.03	4.41	4.82	6.31	3.19	2.42	2.92	12.1	11.5	9.03
Income taxes paid	1	1.01	0.9	0.58	2.17	0.57	0.53	0.62	0.8	0.57

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $8.58 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	12.3%	Gross profit / revenue.
Operating margin	1.5%	Operating income / revenue.
EBITDA margin	3.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	0.2%	Pre-tax income / revenue.
Net margin	1.0%	Net income / revenue.
FCF margin	-0.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.1%	Cash from operations / revenue.
Effective tax rate	-326.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	1.8%	Net income / average total assets.
SG&A / revenue	11.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.4%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	15.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	27.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	26.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	-11.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	4.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	30.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-10.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 5y	-34.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 5y	-38.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	121.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	43.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-9.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	14.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	8.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.41x	Current assets / current liabilities.
Quick ratio	0.03x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Debt / assets	15.1%	Total debt / total assets.
Liabilities / assets	65.2%	Total liabilities / total assets.
Net debt	$65.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.37x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.61x	Operating income / interest expense.
Working capital	$76.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	8.8%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.84x	Revenue / average total assets.
Fixed asset turnover	7.01x	Revenue / average property, plant and equipment.
Inventory turnover	280x	Cost of revenue / average inventory.
Days inventory	1 days	365 x average inventory / cost of revenue.
Days payables	45 days	365 x average accounts payable / cost of revenue.
FCF conversion	-22.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	105.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$21.92	Revenue / diluted weighted shares.
FCF per share	-$0.05	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.91	Cash from operations / diluted weighted shares.
Cash per share	$0.15	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$347.4M	Share price x shares outstanding.
Enterprise value	$413.4M	Market cap + total debt - cash - short-term investments.
P/E	40.5x	Market cap / net income. Only when net income is positive.
P/S	0.39x	Market cap / revenue.
P/OCF	9.54x	Market cap / cash from operations, when positive.
EV/Sales	0.47x	Enterprise value / revenue.
EV/EBIT	31.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.8x	Enterprise value / EBITDA, when both are positive.
FCF yield	-0.6%	Free cash flow / market cap.
Earnings yield	2.5%	Net income / market cap (the inverse of P/E).

What was Orion Group Holdings Inc's revenue in fiscal 2025?

Orion Group Holdings Inc reported revenue of $852.3M for fiscal 2025, 7% higher than the year before.

Was Orion Group Holdings Inc profitable in fiscal 2025?

Yes. Net income was $2.5M, a net margin of 0.3%.

How much free cash flow did Orion Group Holdings Inc generate in fiscal 2025?

Cash from operations of $28.1M minus capital expenditures of $38.9M left free cash flow of -$10.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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