ORN Stock Analysis: Orion Holdings | NYSE

Marine Construction, Concrete Placement, Dredging Services, Commercial Diving

Total Rating 13

Safety 31

Buy Signal -1.13

Engineering & Construction
Industry Rotation: +4.5

Market Cap: 379M
Avg Turnover: 4.50M

Risk 3d forecast

Volatility66.6%

VaR 5^th Pctl11.2%

VaR vs Median2.37%

Reward TTM

Sharpe Ratio0.33

Rel. Str. IBD11.4

Rel. Str. Peer Group33.7

Character TTM

Beta2.549

Beta Downside2.090

Hurst Exponent0.527

Drawdowns 3y

Max DD57.62%

CAGR/Max DD0.30

CAGR/Mean DD0.68

EPS (Earnings per Share)

Last SUE: -0.58
Qual. Beats: 0

Revenue

Rev. CAGR: 9.89%
Rev. Trend: 97.7%

Last SUE: -0.15
Qual. Beats: 0

Warnings

P/E Ratio 117.0

High Debt/EBITDA With Thin Interest Coverage

High Debt While Negative Cash Flow

Interest Coverage Ratio Critical

Beneish M-Score Likely Earnings Manipulation

Below Avwap Earnings

Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 11.6 years of data

Jan +2.3% 10

Feb +1.0% 8

Mar -17.0% 35

Apr -3.3% 15

May +2.3% 29

Jun +11.5% 25

Jul -7.6% 9

Aug -4.0% 15

Sep +5.1% 13

Oct +6.2% 12

Nov +9.3% 13

Dec -4.5% 31

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: ORN Orion Holdings

Orion Group Holdings, Inc. (NYSE: ORN) is a specialty construction company headquartered in Houston, Texas, operating across the United States, Canada, and the Caribbean Basin. Founded in 1994 and formerly known as Orion Marine Group until rebranding in May 2016, the company is classified within the Construction & Engineering sub-industry of the broader Industrials sector. Orion reports its operations through two segments: Marine and Concrete.

The Marine segment focuses on the construction, rehabilitation, and maintenance of marine transportation infrastructure, including terminals, cruise ship berths, U.S. Navy facilities, marinas, and port facilities. The segment also handles underwater pipeline and transmission infrastructure installation, overwater bridge and causeway construction, environmental protection structures such as levees and erosion control systems, and dredging services for ports, waterways, and channels. Specialty offerings include commercial diving, underwater inspection, salvage, demolition, and surveying services.

The Concrete segment provides concrete placement, finishing, site preparation, forming, and rebar placement services across a diverse project mix. End markets include data centers, industrial and warehouse facilities, commercial and multi-family structures, institutional buildings, and retail, hospital, and recreational facilities. Specialty contractors in the concrete space typically compete on the basis of technical capability, project execution, and the ability to mobilize skilled crews for time-bound engagements.

The companys diversified mix of marine infrastructure and commercial concrete work exposes it to public infrastructure spending, private industrial development, and large-scale data center construction activity. As a small-cap stock in the specialty construction niche, Orions revenue tends to be project-driven, with backlog and contract awards serving as key indicators of near-term performance.

Headlines to Watch Out For

Data center buildout drives concrete segment revenue growth
Federal infrastructure spending boosts marine dredging backlog
Labor and material cost inflation pressures project margins

Piotroski VR-10 (Strict) 2.0

Net Income: 3.60m TTM > 0 and > 6% of Revenue
FCF/TA: -0.04 > 0.02 and ΔFCF/TA -7.89 > 1.0
NWC/Revenue: 10.26% < 20% (prev 9.18%; Δ 1.08% < -1%)
CFO/TA 0.05 > 3% & CFO 24.4m > Net Income 3.60m
Net Debt (209.8m) to EBITDA (39.2m): 5.35 < 3
Current Ratio: 1.52 > 1.5 & < 3
Outstanding Shares: last quarter (40.3m) vs 12m ago 2.32% < -2%
Gross Margin: 11.78% > 18% (prev 12.68%; Δ -0.90% > 0.5%)
Asset Turnover: 193.0% > 50% (prev 193.5%; Δ -0.53% > 0%)
Interest Coverage Ratio: 0.43 > 6 (EBIT TTM 7.89m / Interest Expense TTM 18.2m)

Altman Z'' 1.45

A: 0.19 (Total Current Assets 268.8m - Total Current Liabilities 176.8m) / Total Assets 496.2m
B: -0.12 (Retained Earnings -60.7m / Total Assets 496.2m)
C: 0.02 (EBIT TTM 7.89m / Avg Total Assets 464.5m)
D: 0.50 (Book Value of Equity 164.5m / Total Liabilities 331.8m)
Altman-Z'' = 1.45 = BB

Beneish M -0.36

DSRI: 0.88 (Receivables 253.2m/267.6m, Revenue 896.5m/837.5m)
GMI: 1.08 (GM 12.68% / 11.78%)
AQI: 5.47 (AQ_t 0.10 / AQ_t-1 0.02)
SGI: 1.07 (Revenue 896.5m / 837.5m)
TATA: -0.04 (NI 3.60m - CFO 24.4m) / TA 496.2m)
Beneish M = -0.36 (Cap -4..+1) = D

What is the price of ORN shares?

As of October 12, 2026, the stock is trading at USD 9.15 with a total of 239,914 shares traded. Over the past week, the price has changed by -1.61%, over one month by +0.66%, over three months by -34.78% and over the past year by +5.78%.

Current recommended Stop Loss: 8.60 (which is 6% or 1.4 ATR below the current price).

Is ORN a buy, sell or hold?

Orion Holdings has received a consensus analysts rating of 4.83. Therefore, it is recommended to buy ORN.

StrongBuy: 5
Buy: 1
Hold: 0
Sell: 0
StrongSell: 0

What are the forecasts/targets for the ORN price?

Analysts Target Price	15.3	67.4%

Orion Holdings (ORN) - Fundamental Data Overview as of 08 October 2026

Market Cap USD = 379.0m (379.0m USD * 1.0 USD.USD)
P/E Trailing = 117.0
P/E Forward = 22.8833
P/S = 0.4228
P/B = 2.2253
P/EG = 0.6186
Revenue TTM = 896.5m USD
EBIT TTM = 7.89m USD
EBITDA TTM = 39.2m USD
Long Term Debt = 93.0m USD (from longTermDebt, last quarter)
Short Term Debt = 19.8m USD (from shortTermDebt, last quarter)
Debt = 212.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 63.5m
Net Debt = 209.8m USD (calculated: Debt 212.3m - CCE 2.53m)
Enterprise Value = 588.8m USD (379.0m + Debt 212.3m - CCE 2.53m)
Interest Coverage Ratio = 0.43 (Ebit TTM 7.89m / Interest Expense TTM 18.2m)
EV/FCF = -31.94x (Enterprise Value 588.8m / FCF TTM -18.4m)
FCF Yield = -3.13% (FCF TTM -18.4m / Enterprise Value 588.8m)
FCF Margin = -2.06% (FCF TTM -18.4m / Revenue TTM 896.5m)
Net Margin = 0.40% (Net Income TTM 3.60m / Revenue TTM 896.5m)
Gross Margin = 11.78% ((Revenue TTM 896.5m - Cost of Revenue TTM 790.9m) / Revenue TTM)
Gross Margin QoQ = 10.33% (prev 11.96%)
Tobins Q-Ratio = 1.19 (Enterprise Value 588.8m / Total Assets 496.2m)
Interest Expense / Debt = 8.55% (Interest Expense 18.2m / Debt 212.3m)
Taxrate = 14.41% (419k / 2.91m)
NOPAT = 6.76m (EBIT 7.89m * (1 - 14.41%))
Current Ratio = 1.52 (Total Current Assets 268.8m / Total Current Liabilities 176.8m)
Debt / Equity = 1.29 (Debt 212.3m / totalStockholderEquity, last quarter 164.5m)
Debt / EBITDA = 5.35 (Net Debt 209.8m / EBITDA 39.2m)
Debt / FCF = -11.38 (negative FCF - burning cash) (Net Debt 209.8m / FCF TTM -18.4m)
Total Stockholder Equity = 162.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.78% (Net Income 3.60m / Total Assets 496.2m)
RoE = 2.22% (Net Income TTM 3.60m / Total Stockholder Equity 162.0m)
RoCE = 3.10% (EBIT 7.89m / Capital Employed (Equity 162.0m + L.T.Debt 93.0m))
RoIC = 2.01% (NOPAT 6.76m / Invested Capital 336.7m)
WACC = 12.21% (E(379.0m)/V(591.3m) * Re(14.95%) + D(212.3m)/V(591.3m) * Rd(8.55%) * (1-Tc(0.14)))
Discount Rate = 14.95% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 88.46 | Cagr: 9.98%
[DCF] Fair Price = unknown (Cash Flow -18.4m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.58 | # QB: 0
Revenue Correlation: 97.67 | Revenue CAGR: 9.89% | SUE: -0.15 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.10 | Chg30d=+0.00% | Revisions=-40% | Analysts=6
EPS current Year (2026-12-31): EPS=0.25 | Chg30d=+0.00% | Revisions=-57% | GrowthEPS=+1.5% | GrowthRev=+9.1%
EPS next Year (2027-12-31): EPS=0.45 | Chg30d=+0.16% | Revisions=-67% | GrowthEPS=+77.4% | GrowthRev=+8.0%
[Analyst] Revisions Ratio: -80% (up=0, down=12)