Orion Group Holdings Inc. (ORN) intrinsic value & 10-year financials
Orion Group Holdings Inc. (ORN) has a Graham intrinsic value of $1.99 per share. At $8.52 on Oct 17, 2026, the stock trades 328% above that value. Over the last 10 fiscal years revenue grew 3.9% a year to $852.3M, with an average return on invested capital of -2.1%.
- Graham intrinsic value
- $1.99
- Share price (Oct 17, 2026)
- $8.52
- Price vs Graham value
- 328% above
- Market cap
- $337.7M
- Revenue (FY2025)
- $852.3M
- Revenue growth (10-yr CAGR)
- 3.9%
- ROIC (10-yr avg)
- -2.1%
- Free cash flow (FY2025)
- -$10.8M
ORN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $852.3M | $2.5M | $0.06 | -$10.8M | 1.7% | 6.7% |
| FY2024 | $796.4M | -$1.6M | -$0.05 | -$1.4M | 1.4% | 6.9% |
| FY2023 | $711.8M | -$17.9M | -$0.55 | $8.3M | -0.9% | -3.8% |
| FY2022 | $748.3M | -$12.6M | -$0.40 | -$5.0M | -1.1% | -4.1% |
| FY2021 | $601.4M | -$14.6M | -$0.47 | -$16.9M | -1.5% | -4.5% |
| FY2020 | $709.9M | $20.2M | $0.67 | $31.3M | 3.7% | 11.0% |
| FY2019 | $708.4M | -$5.4M | -$0.18 | -$17.9M | 0.3% | 1.0% |
| FY2018 | $520.9M | -$94.4M | -$3.31 | $4.2M | -19.3% | -35.8% |
| FY2017 | $578.6M | $400.0K | $0.01 | $23.4M | 0.3% | 0.3% |
| FY2016 | $602.5M | -$3.6M | -$0.13 | $4.4M | 0.7% | 1.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Orion Group Holdings Inc has demonstrated mature, steady growth, with revenue compounding at 3.9% annually over the past decade.
Orion Group Holdings Inc has historically struggled to out-earn its cost of capital, averaging just -2.1% ROIC.
Orion Group Holdings Inc has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Orion Group Holdings Inc is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.99 per share.