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Octopus Renewables Infrastructure Trust Plc
(LSE:ORIT)
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Rating:58Neutral
Price Target:
63.00 p
▲(2.94% Upside)
Action:Reiterated
Date:09/22/26
The score is driven mainly by uneven financial performance (sharp 2025 loss, weaker cash-flow quality, and declining equity) despite a strong no-debt balance sheet. Valuation is supported by a very high dividend yield, and the earnings call reiterated dividend coverage and operational resilience, but was tempered by NAV decline, reduced wind forecasts, higher discount rates, and elevated gearing. Technical indicators are mixed to slightly weak, limiting near-term momentum support.
Positive Factors
Contracted revenue visibility
High contracted revenue visibility provides a durable foundation for cash-flow planning and reduces near-term exposure to wholesale power-price volatility. Inflation-linked revenue also offers partial protection for operating costs and supports the trust’s ability to sustain distributions.
Negative Factors
Sharp earnings and free-cash-flow deterioration
The move from a 2024 profit to a substantial 2025 loss shows that reported earnings are volatile despite strong gross margins. Weaker operating cash flow and zero reported free cash flow also reduce confidence in how consistently accounting performance converts into funds available for reinvestment.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted revenue visibility
High contracted revenue visibility provides a durable foundation for cash-flow planning and reduces near-term exposure to wholesale power-price volatility. Inflation-linked revenue also offers partial protection for operating costs and supports the trust’s ability to sustain distributions.
Read all positive factors
Octopus Renewables Infrastructure Trust Plc (ORIT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£319.18M
Dividend Yield10.25%
Average Volume (3M)1.43M
Price to Earnings (P/E)―
Beta (1Y)-0.06
Revenue Growth-20.48%
EPS Growth-986.30%
CountryUK
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)-0.08
Shares Outstanding527,576,970
10 Day Avg. Volume1,986,466
30 Day Avg. Volume1,428,719
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.67
Price to Sales (P/S)7.73
P/FCF Ratio9.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.06
Revenue Forecast (FY)N/A
Octopus Renewables Infrastructure Trust Plc Business Overview & Revenue Model
Company Description
Octopus Renewables Infrastructure Trust plc (ORIT) functions as a closed-end investment vehicle, primarily dedicated to the development and management of a diverse portfolio of renewable energy projects. The company's investment scope covers both ...
How the Company Makes Money
ORIT makes money primarily by owning equity interests in renewable energy infrastructure projects and receiving the cash flows those projects generate. Key revenue streams typically include: (1) electricity sales: portfolio assets produce power an...
Octopus Renewables Infrastructure Trust Plc Earnings Call Summary
Earnings Call Date:Sep 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 29, 2027
Earnings Call Sentiment Positive
The call was broadly positive, with resilient operating cash flow, revenue and EBITDA ahead of budget, strong solar and offshore wind performance, covered dividends, active asset management, and a substantial development pipeline. These positives were tempered by a 5% negative H1 NAV total return, a 10.1% reduction in long-term onshore wind generation forecasts, higher discount rates, increased gearing above the 40% anchor, a persistent high-20s share price discount, and slower-than-desired progress on investments and asset recycling.Positive Updates
Resilient Cash Performance and Dividend Cover
Revenue and EBITDA were ahead of budget in the first half, driving dividend cover of 1.38x net of scheduled debt amortization and 1.91x gross of scheduled debt amortization.
Negative Updates
Negative H1 NAV Total Return
NAV total return over the period was negative 5%, primarily driven by the reforecasting of onshore wind production estimates, lower power price forecasts, and higher discount rates.
Read all updates
Q2-2026 Updates
Positive
Negative
Resilient Cash Performance and Dividend Cover
Revenue and EBITDA were ahead of budget in the first half, driving dividend cover of 1.38x net of scheduled debt amortization and 1.91x gross of scheduled debt amortization.
Read all positive updates
Company Guidance
ORIT remains on track to deliver the FY 2026 target of GBP 0.0623 per share, which itself was a 1% increase on 2025, and to be fully covered by operational cash flows; the 9%-11% returns that form a core pillar of ORIT 2030 require portfolio returns of 10%-12% after running costs of a little over 1%, versus around 8.8% from the current portfolio, with some assets potentially delivering long-term hold-to-maturity returns in the high single digits; asset sale proceeds will principally be applied towards debt repayment, with the first sale hoped to be done well within the next six months, to reduce gearing towards the approximately 40% medium-term anchor, while a wider refinancing process is expected to start moving for the remainder of 2026 into 2027; ORIT currently has preferential rights over a pipeline of around 3 GW, developer investments are capped at 5% of the portfolio, and development platforms support access to construction-ready opportunities from 2027, with continued NAV growth expected as construction stage investments move into operation from 2027 onwards; 86% of forecast revenue over the next two years is fixed or contracted and 42% of forecast revenue over the next 10 years is inflation linked, while subsidies start to roll off around 2032 for most French feed-in tariff assets, around 2032 for Lincs, and around 2033 to 2035 for U.K. solar, making the revenue mix significantly more merchant in the mid-2030s.Octopus Renewables Infrastructure Trust Plc Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
76
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.91M | 42.84M | 42.54M | 42.69M | 72.25M | 36.22M |
| Gross Profit | 32.78M | 37.99M | 37.07M | 37.05M | 66.54M | 32.08M |
| EBITDA | -42.23M | -22.95M | 11.48M | 12.60M | 69.79M | 34.81M |
| Net Income | -42.23M | -22.95M | 11.78M | 12.70M | 69.84M | 34.79M |
Balance Sheet | ||||||
| Total Assets | 455.92M | 496.30M | 573.17M | 602.28M | 620.18M | 579.81M |
| Cash, Cash Equivalents and Short-Term Investments | 10.64M | 10.78M | 11.85M | 10.01M | 10.60M | 93.95M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.23M | 1.50M | 2.80M | 3.24M | 1.92M | 2.12M |
| Stockholders Equity | 454.68M | 494.80M | 570.37M | 599.04M | 618.26M | 577.69M |
Cash Flow | ||||||
| Free Cash Flow | 31.91M | 33.24M | 42.86M | 36.91M | 29.91M | 20.30M |
| Operating Cash Flow | 31.91M | 33.24M | 42.86M | 36.91M | 29.91M | 20.30M |
| Investing Cash Flow | 22.08M | 18.30M | -577.00K | -5.58M | -83.58M | -212.52M |
| Financing Cash Flow | -43.51M | -52.62M | -40.45M | -31.92M | -29.67M | 198.97M |
Octopus Renewables Infrastructure Trust Plc Technical Analysis
Positive
61.20
Price Trends
61.12
Negative
61.33
Negative
58.23
Positive
Market Momentum
-0.32
Positive
48.62
Neutral
32.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ORIT, the sentiment is Positive. The current price of 61.2 is above the 20-day moving average (MA) of 60.76, above the 50-day MA of 61.12, and above the 200-day MA of 58.23, indicating a neutral trend. The MACD of -0.32 indicates Positive momentum. The RSI at 48.62 is Neutral, neither overbought nor oversold. The STOCH value of 32.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ORIT.
Octopus Renewables Infrastructure Trust Plc Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £519.70M | 12.41 | 46.72% | 5.75% | 7.26% | 30.92% | |
58 Neutral | £319.18M | -7.56 | -8.90% | 10.25% | -20.48% | -986.30% | |
58 Neutral | £250.53M | -2.07 | -28.75% | 18.02% | 102.27% | -2044.26% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | £26.96M | -8.62 | -30.47% | ― | ― | -34.88% | |
44 Neutral | $18.78M | -1.11 | -41.11% | 52.88% | 54.08% | 50.80% |
* General Sector Average
GB:ORIT
Octopus Renewables Infrastructure Trust Plc
60.50
5.51
10.02%
GB:GSF
Gore Street Energy Storage
49.60
-4.34
-8.05%
GB:FSG
Foresight Group Holdings Ltd.
471.50
40.26
9.34%
GB:RNEW
Ecofin U.S. Renewables Infrastructure Trust Plc
0.14
-0.02
-12.26%
GB:EGT
European Green Transition Plc
10.00
4.25
73.91%
Octopus Renewables Infrastructure Trust Plc Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
ORIT Delivers Strong Cash Flows as Onshore Wind Valuation Hit Weighs on NAV
Positive
Sep 22, 2026
Octopus Renewables Infrastructure Trust reported resilient cash generation for the six months to 30 June 2026, despite a challenging backdrop for listed renewable infrastructure. The company produced 575 GWh of clean electricity and 614 GWh of com...
Business Operations and StrategyFinancial Disclosures
Octopus Renewables Infrastructure Trust sets date for interim results and investor presentations
Positive
Sep 7, 2026
Octopus Renewables Infrastructure Trust plc will publish its unaudited interim results for the six months to 30 June 2026 on 22 September 2026, marking a key update for investors in the diversified renewables infrastructure fund. The company will ...
Business Operations and StrategyDividendsFinancial Disclosures
Octopus Renewables Infrastructure Trust cuts NAV after onshore wind downgrade
Negative
Aug 3, 2026
Octopus Renewables Infrastructure Trust reported an unaudited net asset value of £454.7 million, or 86.18 pence per share, as of 30 June 2026, down from £491.5 million and 93.15 pence per share at the end of March, equating to a 5.8% neg...
Business Operations and StrategyDividends
Octopus Renewables Infrastructure Trust maintains Q2 dividend in line with 2026 target
Positive
Aug 3, 2026
Octopus Renewables Infrastructure Trust has declared an interim dividend of 1.56 pence per share for the second quarter of 2026, covering the period from 1 April to 30 June, with payment scheduled for 1 September to shareholders on the register as...
Business Operations and StrategyExecutive/Board Changes
Octopus Renewables Infrastructure Trust Names New Chair of Management Engagement Committee
Neutral
Jul 31, 2026
Octopus Renewables Infrastructure Trust plc has announced a governance change, appointing non-executive Senior Independent Director Sarim Sheikh as Chair of the Management Engagement Committee effective 31 July 2026. He succeeds James Cameron, who...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.