Orion Group Holdings Inc ORN
Orion Group Holdings, Inc. is a leading specialty construction company focused on large-scale, mission-critical, capital projects within the marine and infrastructure sectors. Unless the context otherwise requires, all references herein to "Orion," the "Company," the "Registrant," "we," "us," or "our" refer to Orion Group Holdings, Inc. and its consolidated subsidiaries and affiliates. Orion is a Delaware corporation, and its common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol ORN.
The Company is headquartered in Houston, Texas with regional offices throughout its operating areas. As of December 31, 2025, we had a workforce of over 2,000 employees who are committed to delivering projects with predictable excellence and guided by our core values: Safety, Quality, Delivery, Teamwork, and Integrity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $852.3M | $796.4M | $711.8M | $748.3M | $601.4M | $709.9M | $708.4M | $520.9M | $578.6M | — |
| Cost of revenue | $746.6M | $705.2M | $650.1M | $697.6M | $560.4M | $625.2M | $644.3M | $504.1M | $516.3M | — |
| Gross profit | $105.6M | $91.2M | $61.7M | $50.7M | $41.0M | $84.7M | $64.0M | $16.8M | $62.2M | $67.5M |
| SG&A | $93.5M | $82.5M | $69.4M | $62.5M | $60.2M | $65.1M | $61.0M | $53.2M | $56.6M | $65.0M |
| Operating income | $14.6M | $11.5M | -$6.6M | -$8.0M | -$9.3M | $26.6M | $2.2M | -$100.5M | $1.5M | $4.1M |
| Interest expense | $8.9M | $13.4M | $11.7M | $4.5M | $5.1M | $4.9M | $6.8M | $7.9M | $5.7M | $6.2M |
| Pre-tax income | $2.9M | -$1.3M | -$17.5M | -$12.2M | -$14.1M | $22.2M | -$3.5M | -$106.7M | -$4.1M | -$2.0M |
| Income tax | $419.0K | $348.0K | $330.0K | $429.0K | $502.0K | $2.0M | $1.9M | $12.2M | $4.5M | $1.6M |
| Net income | $2.5M | -$1.6M | -$17.9M | -$12.6M | -$14.6M | $20.2M | -$5.4M | -$94.4M | $400.0K | -$3.6M |
| EPS, basic | 0.06 | -0.05 | -0.55 | -0.40 | -0.47 | 0.67 | -0.18 | -3.31 | 0.01 | -0.13 |
| EPS, diluted | 0.06 | -0.05 | -0.55 | -0.40 | -0.47 | 0.67 | -0.18 | -3.31 | 0.01 | -0.13 |
| Shares, diluted (wtd. avg.) | 39.6M | 34.8M | 32.3M | 31.4M | 30.8M | 30.1M | 29.3M | 28.5M | 28.4M | 27.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.6M | $28.3M | $30.9M | $3.8M | $12.3M | $1.6M | $1.1M | $8.7M | $9.1M | $305.0K |
| Inventory | $2.4M | $2.0M | $2.7M | $2.9M | $1.4M | $1.5M | $1.1M | $1.1M | $4.4M | $5.4M |
| Total current assets | $278.2M | $269.3M | $271.8M | $220.3M | $197.9M | $235.4M | $212.0M | $137.1M | $191.8M | $195.1M |
| Property, plant and equipment | $88.2M | $86.1M | $87.8M | $101.0M | $106.7M | $125.5M | $132.3M | $148.0M | $146.3M | $158.1M |
| Goodwill | — | — | — | — | — | — | — | $0 | $69.5M | $66.4M |
| Other intangibles | — | — | $0 | $7.3M | $8.6M | $10.1M | $12.1M | $14.8M | $18.2M | $22.0M |
| Total assets | $414.7M | $417.3M | $416.9M | $367.2M | $351.8M | $414.2M | $394.8M | $312.9M | $433.3M | $447.7M |
| Short-term debt | $1.8M | $426.0K | $13.5M | $35.0M | $39.1M | $4.3M | $3.7M | $2.9M | $22.8M | $19.2M |
| Total current liabilities | $203.9M | $191.2M | $215.9M | $189.2M | $161.7M | $180.6M | $149.8M | $86.3M | $122.0M | $117.5M |
| Long-term debt | $6.1M | $22.8M | $23.7M | $716.0K | $259.0K | $29.5M | $68.0M | $76.1M | $63.2M | $82.1M |
| Total liabilities | $255.6M | $266.6M | $295.4M | $229.4M | $203.7M | $254.7M | $256.8M | $171.3M | $202.0M | $221.5M |
| Retained earnings | -$61.2M | -$63.7M | -$62.0M | -$44.2M | -$31.6M | -$17.0M | -$37.2M | -$31.9M | $62.8M | $62.6M |
| Total equity | $159.0M | $150.7M | $121.5M | $137.8M | $148.1M | $159.5M | $138.0M | $141.6M | $231.3M | $226.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $28.1M | $12.7M | $17.2M | $9.6M | $69.0K | $46.0M | -$716.0K | $21.9M | $34.1M | $23.1M |
| Depreciation and amortisation | $13.7M | $15.5M | $18.8M | $20.9M | $22.6M | $23.9M | $26.1M | $31.8M | $29.5M | $34.2M |
| Stock-based compensation | $5.5M | $4.0M | $2.0M | $2.8M | $2.4M | $2.0M | $2.8M | $2.2M | $2.3M | $2.3M |
| Capital expenditure | $38.9M | $14.1M | $8.9M | $14.6M | $17.0M | $14.7M | $17.2M | $17.7M | $10.7M | $18.7M |
| Investing cash flow | -$13.7M | -$11.5M | $2.2M | -$9.7M | $10.6M | -$3.1M | -$13.3M | -$13.3M | -$10.1M | -$17.7M |
| Financing cash flow | -$39.4M | -$3.8M | $7.8M | -$8.4M | $6.0K | -$42.4M | $6.4M | -$9.0M | -$15.3M | -$6.5M |
| Buybacks | — | — | — | — | — | $188.0K | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001402829-26-000011.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $578.6M | $520.9M | $708.4M | $709.9M | $601.4M | $748.3M | $711.8M | $796.4M | $852.3M |
| Gross profit | $67.5M | $62.2M | $16.8M | $64.0M | $84.7M | $41.0M | $50.7M | $61.7M | $91.2M | $105.6M |
| Net income | -$3.6M | $400.0K | -$94.4M | -$5.4M | $20.2M | -$14.6M | -$12.6M | -$17.9M | -$1.6M | $2.5M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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