Orion Group Holdings Inc. Common (ORN)

FairStock Score: 16/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham-style investor, I begin with business quality. Orion is a specialty contractor in marine and concrete construction—necessary work, but competitive and cyclical, with little pricing power. The record is choppy. In fiscal year 2023, revenue was $711.8M and net loss was $17.9M. In fiscal year 2024, revenue rose to $796.4M but net loss was still $1.6M. In fiscal year 2025, revenue reached $852.3M and net income turned positive at just $2.5M, or $0.06 per diluted share. That thin margin fits the given Lynch category of TURNAROUND—returned to profit after a loss within the last three years—but not a durable moat. Recent results show how fragile it is: in fiscal Q1 2026, the quarter ended 2026-03-31, net income was $4.7M and diluted EPS was $0.12; in the latest quarter shown, fiscal Q2 2026, revenue was $221.9M but net loss was $4.1M, a -1.87% margin. FairStock calculations at the $9.15 close on 2026-10-13 show weak financial health: TTM free cash flow is -$18.4M, FCF yield is -5.0%, ROE is 2.27%, ROCE is 1.07%, D/E is 0.99, Altman Z is 1.16, and Piotroski is 1/9. Valuation leaves no margin of safety: P/E is 114.37, P/B is 2.25, EV/EBITDA is 14.48, and the Graham Number is $2.70 versus a $9.15 price, a -238.89% margin of safety. Revenue growth of 8.08% is not enough when profits are erratic and cash is burning. I would want sustained positive earnings and free cash flow before calling this a bargain.

In plain English: Orion Group Holdings is a specialty construction company that builds and repairs marine facilities like ports and terminals, plus concrete work. The business has had inconsistent profits lately, with a loss in the latest quarter, cash going out the door, and weak returns. At $9.15, the price looks expensive compared with its current profits and net assets, so it would need a big improvement to justify the stock.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer