ORN · Orion Group Holdings Inc
Orion Group Holdings, Inc. operates as a specialty construction company for the infrastructure, industrial, and building sectors in the United States, Canada, and the Caribbean Basin. It operates through two segments, Marine and Concrete. The company engages in the building, rehabilitation, and maintenance of a range of marine transportation facilities, including terminals, cruise ship berths, private terminals, U.S. Navy facilities, marinas, and other port facilities; installation of foundations, mooring structures, and related components; provision of ongoing inspection, maintenance, and emergency repair services, as well as logistics services for directional drilling; installation and removal of underwater pipelines and transmission infrastructure, such as industrial intakes and outfalls, river crossing, and tie-ins; construction, repair, and maintenance of overwater bridges, causeways, and fendering systems; and construction of various environmental protection structures, including levees, erosion control systems, concrete mats, wetlands restoration features, and geotube installations for island and shoreline creation. It also provides maintenance and capital dredging services for ports, waterways, and channels. In addition, the company offers specialty services, such as design, salvage, demolition, surveying, towing, commercial diving, underwater inspection, excavation, and repair services. Further, it provides concrete construction services, including concrete placement and finishing, site preparation, layout, forming, and rebar placement services for data centers; industrial, warehouse, and distribution facilities; commercial, multi-family, institutional, and mixed-use structures; and retail, hospital, and recreational facilities. The company was formerly known as Orion Marine Group, Inc. and changed its name to Orion Group Holdings, Inc. in May 2016. Orion Group Holdings, Inc. was founded in 1994 and is headquartered in Houston, Texas.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $10.18 |
| SO | 40.5M |
| Options | 0.0M |
| Warrants | 0.0M |
| FD SO | 40.5M |
| MC | $412.5M |
| Cash | $6.3M |
| Total debt | $83.6M |
| EV | $489.9M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 0.6x |
| EV / EBITDA | 17.6x |
| MC / Net Income | 48.0x |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 86.4% |
| Insiders | 5.8% |
| # Institutions | 228 |
| Analysts | 6 |
| Consensus | Strong Buy |
| Avg target | $15.32 |
| Short % float | 6.4% |
| Days to cover | 4.19 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-04-28. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-08-05 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-07-15; the float denominator can be unreliable on tiny floats.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 216.30 | 233.22 | 225.10 | 205.29 |
| Revenue YoY % | 14.7% | 7.5% | (0.7%) | 6.8% |
| Cost of Revenue | 190.42 | 206.17 | 195.34 | 179.49 |
| Gross Profit | 25.88 | 27.05 | 29.75 | 25.80 |
| Gross Profit YoY % | 12.4% | (10.7%) | 9.9% | 41.1% |
| Gross Margin % | 12.0% | 11.6% | 13.2% | 12.6% |
| SG&A | 26.32 | 23.09 | 25.06 | 22.77 |
| Operating Expense | 26.67 | 22.02 | 24.43 | 22.36 |
| Operating Income | (0.80) | 5.03 | 5.32 | 3.43 |
| Operating Income YoY % | (195.4%) | (47.8%) | (31.6%) | 224.0% |
| Operating Margin % | (0.4%) | 2.2% | 2.4% | 1.7% |
| EBITDA | 3.59 | 8.67 | 9.08 | 6.53 |
| EBITDA Margin % | 1.7% | 3.7% | 4.0% | 3.2% |
| Interest Expense | 1.53 | 1.49 | 2.12 | 2.92 |
| Other Income / (Expense) | — | (3.60) | — | — |
| Pretax Income | (2.17) | (0.07) | 3.62 | 0.63 |
| Tax Provision | (6.85) | 0.17 | 0.32 | (0.21) |
| Net Income | 4.69 | (0.24) | 3.30 | 0.84 |
| Net Margin % | 2.2% | (0.1%) | 1.5% | 0.4% |
| Diluted EPS | $0.12 | -$0.01 | $0.08 | $0.02 |
| Basic EPS | $0.12 | -$0.01 | $0.08 | $0.02 |
| Diluted Avg Shares | 40.1 | — | 39.8 | 39.8 |
| Basic Avg Shares | 40.1 | — | 39.8 | 39.8 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 879.91 | 852.26 | 796.39 | 711.78 | 748.32 |
| Revenue YoY % | 3.2% | 7.0% | 11.9% | (4.9%) | — |
| Cost of Revenue | 771.43 | 746.65 | 705.23 | 650.12 | 697.58 |
| Gross Profit | 108.48 | 105.61 | 91.16 | 61.66 | 50.74 |
| Gross Profit YoY % | 2.7% | 15.9% | 47.8% | 21.5% | — |
| Gross Margin % | 12.3% | 12.4% | 11.4% | 8.7% | 6.8% |
| SG&A | 97.25 | 93.47 | 82.54 | 69.43 | 62.50 |
| Operating Expense | 95.50 | 91.00 | 79.64 | 68.29 | 58.77 |
| Operating Income | 12.98 | 14.61 | 11.52 | (6.63) | (8.03) |
| Operating Income YoY % | (11.1%) | 26.8% | 273.8% | 17.4% | — |
| Operating Margin % | 1.5% | 1.7% | 1.4% | (0.9%) | (1.1%) |
| EBITDA | 27.87 | 28.29 | 27.07 | 12.21 | 12.88 |
| EBITDA Margin % | 3.2% | 3.3% | 3.4% | 1.7% | 1.7% |
| Interest Expense | 8.06 | 8.86 | 13.38 | 11.66 | 4.46 |
| Other Income / (Expense) | (2.91) | (2.84) | 0.56 | 0.74 | — |
| Pretax Income | 2.02 | 2.91 | (1.30) | (17.55) | (12.18) |
| Tax Provision | (6.57) | 0.42 | 0.35 | 0.33 | 0.43 |
| Net Income | 8.59 | 2.49 | (1.64) | (17.88) | (12.61) |
| Net Margin % | 1.0% | 0.3% | (0.2%) | (2.5%) | (1.7%) |
| Diluted EPS | $0.21 | $0.06 | -$0.05 | -$0.55 | -$0.40 |
| Basic EPS | $0.21 | $0.06 | -$0.05 | -$0.55 | -$0.40 |
| Diluted Avg Shares | 40.1 | 39.6 | 34.8 | 32.3 | 31.4 |
| Basic Avg Shares | 40.1 | 39.6 | 34.8 | 32.3 | 31.4 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 6.25 | 1.59 | 4.92 | 1.73 |
| Inventory | 2.76 | 2.43 | 2.12 | 1.84 |
| Other Current Assets | 252.41 | 274.14 | 262.71 | 276.40 |
| Total Current Assets | 261.42 | 278.16 | 269.74 | 279.97 |
| Net PPE | 125.44 | 88.21 | 101.11 | 97.68 |
| Operating Lease ROU | 24.39 | 20.40 | 22.24 | 23.71 |
| Goodwill | 32.74 | — | — | — |
| Intangible Assets | 9.31 | — | — | — |
| Other Assets | 25.41 | 27.88 | 29.28 | 31.37 |
| Total Assets | 478.72 | 414.65 | 422.38 | 432.72 |
| Current Debt | 5.85 | 1.79 | 1.04 | 1.16 |
| Current Lease Liabilities | 4.70 | 4.42 | 4.65 | 5.55 |
| Other Current Liabilities | 174.66 | 197.70 | 192.15 | 196.34 |
| Total Current Liabilities | 185.21 | 203.91 | 197.84 | 203.05 |
| Long-term Debt | 66.34 | 6.08 | 22.56 | 32.27 |
| Long-term Lease Liabilities | 28.31 | 24.70 | 20.93 | 21.03 |
| Other Liabilities | 32.20 | 20.93 | 23.15 | 23.18 |
| Total Liabilities | 312.06 | 255.62 | 264.49 | 279.53 |
| Retained Earnings | (56.52) | (61.20) | (60.96) | (64.26) |
| Total Equity | 166.67 | 159.03 | 157.89 | 153.19 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 6.25 | 1.59 | 28.32 | 30.94 | 3.78 |
| Inventory | 2.76 | 2.43 | 1.97 | 2.70 | 2.86 |
| Other Current Assets | 252.41 | 274.14 | 239.04 | 238.18 | 213.69 |
| Total Current Assets | 261.42 | 278.16 | 269.33 | 271.82 | 220.34 |
| Net PPE | 125.44 | 88.21 | 86.10 | 87.83 | 100.98 |
| Operating Lease ROU | 24.39 | 20.40 | 27.10 | 25.70 | 14.98 |
| Goodwill | 32.74 | — | — | — | — |
| Intangible Assets | 9.31 | — | — | 0.00 | 7.32 |
| Other Assets | 25.41 | 27.88 | 34.79 | 31.55 | 23.55 |
| Total Assets | 478.72 | 414.65 | 417.32 | 416.89 | 367.15 |
| Current Debt | 5.85 | 1.79 | 0.43 | 13.45 | 34.96 |
| Current Lease Liabilities | 4.70 | 4.42 | 7.55 | 9.25 | 4.74 |
| Other Current Liabilities | 174.66 | 197.70 | 183.20 | 193.21 | 149.54 |
| Total Current Liabilities | 185.21 | 203.91 | 191.17 | 215.92 | 189.24 |
| Long-term Debt | 66.34 | 6.08 | 22.75 | 23.74 | 0.72 |
| Long-term Lease Liabilities | 28.31 | 24.70 | 20.84 | 16.63 | 11.02 |
| Other Liabilities | 32.20 | 20.93 | 31.88 | 39.13 | 28.39 |
| Total Liabilities | 312.06 | 255.62 | 266.64 | 295.42 | 229.35 |
| Retained Earnings | (56.52) | (61.20) | (63.69) | (62.05) | (44.17) |
| Total Equity | 166.67 | 159.03 | 150.68 | 121.47 | 137.80 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | 4.69 | (0.24) | 3.30 | 0.84 |
| D&A | 4.38 | 3.64 | 3.76 | 3.10 |
| Stock-Based Comp | 1.39 | 1.43 | 1.38 | 1.52 |
| Δ Working Cap & Other | (5.53) | 8.97 | 14.83 | (11.02) |
| Operating Cash Flow | 4.92 | 13.81 | 23.27 | (5.56) |
| CapEx | (8.57) | (13.35) | (9.35) | (7.13) |
| Acquisitions | (44.00) | — | — | — |
| Other Investing | — | 23.43 | 0.54 | 0.85 |
| Investing Cash Flow | (52.52) | 10.07 | (8.80) | (6.28) |
| Debt Issuance | 40.00 | — | — | — |
| Stock Issuance | — | — | — | 0.00 |
| Other Financing | 12.26 | (25.51) | (11.28) | 0.62 |
| Financing Cash Flow | 52.26 | (25.51) | (11.28) | 0.62 |
| Free Cash Flow | (3.65) | 0.45 | 13.92 | (12.69) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | 8.59 | 2.49 | (1.64) | (17.88) | (12.61) |
| D&A | 14.89 | 13.68 | 15.54 | 18.84 | 20.91 |
| Stock-Based Comp | 5.71 | 5.45 | 4.01 | 2.04 | 2.75 |
| Δ Working Cap & Other | 7.24 | 6.45 | (5.23) | 14.17 | (1.49) |
| Operating Cash Flow | 36.43 | 28.07 | 12.68 | 17.18 | 9.56 |
| CapEx | (38.40) | (38.86) | (14.09) | (8.91) | (14.58) |
| Other Investing | (19.12) | 25.16 | 2.61 | 11.08 | 4.88 |
| Investing Cash Flow | (57.53) | (13.70) | (11.48) | 2.17 | (9.70) |
| Debt Repayment | — | (23.00) | (15.00) | (104.43) | (28.27) |
| Stock Issuance | — | — | 26.42 | — | — |
| Other Financing | 16.09 | (16.39) | (15.24) | 112.24 | 19.90 |
| Financing Cash Flow | 16.09 | (39.39) | (3.82) | 7.81 | (8.37) |
| Free Cash Flow | (1.97) | (10.80) | (1.42) | 8.27 | (5.02) |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | 1.41 | 1.36 | 1.36 | 1.38 |
| Quick Ratio | 1.40 | 1.35 | 1.35 | 1.37 |
| Debt / Equity | 1.87 | 1.61 | 1.68 | 1.82 |
| EBITDA Margin % | 1.7% | 3.7% | 4.0% | 3.2% |
| Working Capital | 76.21 | 74.25 | 71.90 | 76.92 |
| Net Debt | 60.08 | 4.50 | 17.65 | 30.54 |
| ROE % | 2.8% | (0.2%) | 2.1% | 0.5% |
| ROA % | 1.0% | (0.1%) | 0.8% | 0.2% |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 1.41 | 1.36 | 1.41 | 1.26 | 1.16 |
| Quick Ratio | 1.40 | 1.35 | 1.40 | 1.25 | 1.15 |
| Debt / Equity | 1.87 | 1.61 | 1.77 | 2.43 | 1.66 |
| EBITDA Margin % | 3.2% | 3.3% | 3.4% | 1.7% | 1.7% |
| Working Capital | 76.21 | 74.25 | 78.16 | 55.90 | 31.10 |
| Net Debt | 60.08 | 4.50 | (5.57) | (7.20) | (3.07) |
| ROE % | 5.2% | 1.6% | (1.1%) | (14.7%) | (9.2%) |
| ROA % | 1.8% | 0.6% | (0.4%) | (4.3%) | (3.4%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-08-04 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2026-07-31 | P | 5,000 | $9.81 | $49,050 |
| 2026-08-04 | Vasquez Alison Gaut | Officer (EVP AND CFO) | 2026-07-31 | P | 5,025 | $9.95 | $49,999 |
| 2026-08-04 | Sullivan Mary E | Director | 2026-07-31 | P | 3,000 | $9.79 | $29,362 |
| 2026-08-04 | LEDFORD ROBERT | Director | 2026-07-31 | P | 20,000 | $9.62 | $192,430 |
| 2026-06-25 | Vasquez Alison Gaut | Officer (EVP AND CFO) | 2026-06-23 | F | (2,325) | $15.56 | -$36,177 |
| 2026-05-20 | LEDFORD ROBERT | Director | 2026-05-19 | A | 7,236 | — | $0 |
| 2026-05-20 | Smith Quentin P. Jr. | Director | 2026-05-19 | A | 7,236 | — | $0 |
| 2026-05-20 | Sullivan Mary E | Director | 2026-05-19 | A | 7,236 | — | $0 |
| 2026-05-20 | SHANFELTER AUSTIN J | Director | 2026-05-19 | A | 7,236 | — | $0 |
| 2026-05-20 | Caliel Michael J | Director | 2026-05-19 | A | 7,236 | — | $0 |
| 2026-05-06 | FORAN MARGARET M | Director | 2026-05-05 | S | (10,695) | $15.70 | -$167,912 |
| 2026-05-04 | FORAN MARGARET M | Director | 2026-05-04 | S | (10,000) | $14.62 | -$146,200 |
| 2026-05-04 | FORAN MARGARET M | Director | 2026-05-01 | S | (20,000) | $14.62 | -$292,400 |
| 2026-04-02 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2026-04-01 | F | (2,884) | $11.24 | -$32,416 |
| 2026-04-02 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2026-04-01 | F | (15,377) | $11.24 | -$172,837 |
| 2026-03-20 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2026-03-20 | F | (10,534) | $10.39 | -$109,448 |
| 2026-03-17 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2026-03-16 | A | 2,000 | $6.81 | $13,617 |
| 2026-03-17 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2026-03-16 | A | 2,000 | $6.81 | $13,617 |
| 2026-03-10 | Smith Quentin P. Jr. | Director | 2026-03-10 | S | (10,695) | $12.25 | -$131,014 |
| 2026-03-10 | SHANFELTER AUSTIN J | Director | 2026-03-10 | S | (90,000) | $12.17 | -$1,095,417 |
| 2026-03-09 | Vasquez Alison Gaut | Officer (EVP AND CFO) | 2026-03-06 | P | 4,218 | $11.85 | $49,983 |
| 2026-03-05 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2026-03-03 | A | 20,169 | — | $0 |
| 2026-03-05 | Vasquez Alison Gaut | Officer (EVP AND CFO) | 2026-03-03 | A | 24,752 | — | $0 |
| 2026-03-05 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2026-03-03 | A | 241,636 | — | $0 |
| 2026-03-05 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2026-03-03 | F | (85,803) | $13.41 | -$1,150,618 |
| 2026-03-05 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2026-03-03 | A | 73,341 | — | $0 |
| 2025-12-04 | LEDFORD ROBERT | Director | 2025-11-19 | A | 5,328 | $9.05 | $48,218 |
| 2025-12-01 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2025-11-28 | F | (5,001) | $10.00 | -$50,010 |
| 2025-09-16 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2025-09-15 | A | 2,000 | $4.74 | $9,486 |
| 2025-09-16 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2025-09-15 | A | 2,000 | $4.74 | $9,486 |
| 2025-08-19 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2025-08-15 | F | (55,306) | $6.75 | -$373,316 |
| 2025-06-23 | Vasquez Alison Gaut | Officer (EVP AND CFO) | 2025-06-23 | A | 28,637 | — | $0 |
| 2025-05-20 | Sullivan Mary E | Director | 2025-05-15 | A | 11,481 | $8.71 | $100,000 |
| 2025-05-19 | SHANFELTER AUSTIN J | Director | 2025-05-16 | S | (30,000) | $8.67 | -$259,989 |
| 2025-05-19 | Smith Quentin P. Jr. | Director | 2025-05-15 | A | 11,481 | $8.71 | $100,000 |
| 2025-05-19 | FORAN MARGARET M | Director | 2025-05-15 | A | 11,481 | $8.71 | $100,000 |
| 2025-05-19 | Caliel Michael J | Director | 2025-05-15 | A | 11,481 | $8.71 | $100,000 |
| 2025-05-19 | AMONETT THOMAS N | Director | 2025-05-15 | A | 11,481 | $8.71 | $100,000 |
| 2025-05-19 | SHANFELTER AUSTIN J | Director | 2025-05-15 | A | 11,481 | $8.71 | $100,000 |
| 2025-03-24 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2025-03-20 | A | 35,524 | — | $0 |
| 2025-03-24 | Thanisch Gordon Scott | Officer (EVP AND CFO) | 2025-03-20 | A | 42,629 | — | $0 |
| 2025-03-24 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2025-03-20 | A | 117,229 | — | $0 |
| 2025-03-18 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2025-03-17 | A | 2,000 | $4.74 | $9,486 |
| 2025-03-18 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2025-03-17 | A | 2,000 | $4.74 | $9,486 |
| 2025-03-18 | Thanisch Gordon Scott | Officer (EVP AND CFO) | 2025-03-17 | A | 2,000 | $4.74 | $9,486 |
| 2025-03-17 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2025-03-14 | P | 5,000 | $5.47 | $27,350 |
| 2025-03-17 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2025-03-14 | P | 5,000 | $5.50 | $27,492 |
| 2024-12-02 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2024-11-27 | F | (5,001) | $8.77 | -$43,859 |
| 2024-09-16 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2024-09-13 | P | 4,120 | $6.00 | $24,741 |
| 2024-09-16 | Earle Edward Chipman | Officer (EVP & GENERAL COUNSEL) | 2024-09-13 | P | 15,633 | $6.05 | $94,580 |
| 2024-08-16 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2024-08-15 | F | (55,540) | $7.22 | -$400,999 |
| 2024-08-08 | Boone Travis J | Director, Officer (PRESIDENT & CEO) | 2024-08-08 | P | 3,700 | $6.79 | $25,138 |
| 2024-08-06 | Sullivan Mary E | Director | 2024-08-05 | P | 10,000 | $6.80 | $67,988 |