Orion Group Holdings Inc
ORN · Heavy Construction Other Than Bldg Const - Contractors · 40.5M shares · +2%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$2M (gross $188K, SBC $2M)
Reference price $15.70 · est. market cap ~$636M — last insider sale, 2026-05-05 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Orion is a thin-margin specialty contractor that swung to a small profit but carries near-zero cash and weak returns.
Strengths
- Returned to positive net income ($2.5M) with revenue +7% and $640M backlog
- Good current/quick ratios (72nd/82nd pct) and new $120M credit facility plus JEM acquisition
Risks
- Cash of only $1.6M (10th pct), cash runway ~0.6 quarters and negative FCF
- Razor-thin net margin (0.3%) and low ROA (0.6%); earnings highly volatile
- Fixed-price contract execution and bonding-capacity dependence
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
12.4%
Operating margin
1.7%
Net margin
0.3%
Return on assets
0.6%
Revenue growth (QoQ)
-7.3%
Net debt / EBITDA
0.2×
Current ratio
1.4×
Free cash flow
-$11M
EBITDA
$28M
Cash & investments
$2M
Cash runway
1q
Stock comp / revenue
0.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | Vasquez Alison Gaut | Tax withheld | 2.3K | $15.56 |
| 2026-05-19 | Smith Quentin P. Jr. | Grant | 7.2K | — |
| 2026-05-19 | Sullivan Mary E | Grant | 7.2K | — |
| 2026-05-19 | LEDFORD ROBERT | Grant | 7.2K | — |
| 2026-05-19 | SHANFELTER AUSTIN J | Grant | 7.2K | — |
| 2026-05-19 | Caliel Michael J | Grant | 7.2K | — |
| 2026-05-05 | FORAN MARGARET M | Sell | 11K | $15.70 |
| 2026-05-04 | FORAN MARGARET M | Sell | 10K | $14.62 |
| 2026-05-01 | FORAN MARGARET M | Sell | 20K | $14.62 |
| 2026-04-01 | Boone Travis J | Tax withheld | 15K | $11.24 |
| 2026-04-01 | Earle Edward Chipman | Tax withheld | 2.9K | $11.24 |
| 2026-03-20 | Boone Travis J | Tax withheld | 11K | $10.39 |
| 2026-03-16 | Boone Travis J | Grant | 2.0K | $6.81 |
| 2026-03-16 | Earle Edward Chipman | Grant | 2.0K | $6.81 |
| 2026-03-10 | Smith Quentin P. Jr. | Sell | 11K | $12.25 |
| 2026-03-10 | SHANFELTER AUSTIN J | Sell | 90K | $12.17 |
| 2026-03-06 | Vasquez Alison Gaut | Buy | 4.2K | $11.85 |
| 2026-03-03 | Earle Edward Chipman | Grant | 20K | — |
| 2026-03-03 | Vasquez Alison Gaut | Grant | 25K | — |
| 2026-03-03 | Boone Travis J | Grant | 242K | — |
| 2026-03-03 | Boone Travis J | Tax withheld | 86K | $13.41 |
| 2026-03-03 | Boone Travis J | Grant | 73K | — |
| 2025-11-28 | Earle Edward Chipman | Tax withheld | 5.0K | $10.00 |
| 2025-11-19 | LEDFORD ROBERT | Grant | 5.3K | $9.05 |
| 2025-09-15 | Boone Travis J | Grant | 2.0K | $4.74 |
| 2025-09-15 | Earle Edward Chipman | Grant | 2.0K | $4.74 |
| 2025-08-15 | Boone Travis J | Tax withheld | 55K | $6.75 |
| 2025-06-23 | Vasquez Alison Gaut | Grant | 29K | — |
| 2025-05-16 | SHANFELTER AUSTIN J | Sell | 30K | $8.67 |
| 2025-05-15 | AMONETT THOMAS N | Grant | 11K | $8.71 |
| 2025-05-15 | Sullivan Mary E | Grant | 11K | $8.71 |
| 2025-05-15 | Smith Quentin P. Jr. | Grant | 11K | $8.71 |
| 2025-05-15 | FORAN MARGARET M | Grant | 11K | $8.71 |
| 2025-05-15 | Caliel Michael J | Grant | 11K | $8.71 |
| 2025-05-15 | SHANFELTER AUSTIN J | Grant | 11K | $8.71 |
| 2025-03-20 | Earle Edward Chipman | Grant | 36K | — |
| 2025-03-20 | Thanisch Gordon Scott | Grant | 43K | — |
| 2025-03-20 | Boone Travis J | Grant | 117K | — |
| 2025-03-17 | Earle Edward Chipman | Grant | 2.0K | $4.74 |
| 2025-03-17 | Thanisch Gordon Scott | Grant | 2.0K | $4.74 |
| 2025-03-17 | Boone Travis J | Grant | 2.0K | $4.74 |
| 2025-03-14 | Earle Edward Chipman | Buy | 5.0K | $5.47 |
| 2025-03-14 | Earle Edward Chipman | Buy | 5.0K | $5.50 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-20 | Exec/director change5.03Shareholder voteExhibits | filing ↗ |
| 2026-04-29 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-19 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-17 | Material agreementReg FDExhibits | filing ↗ |
| 2026-03-04 | Reg FDExhibits | filing ↗ |
| 2026-03-04 | ResultsExhibits | filing ↗ |
| 2026-02-04 | Material agreementAcquisition/dispositionDebt obligation3.02Reg FDExhibits | filing ↗ |
| 2025-12-29 | Material agreement1.02Debt obligation3.03Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-20 | 2026-05-19 | 0001402829-26-000040 ↗ |
| 8-K | 2026-04-29 | 2026-04-28 | 0001402829-26-000034 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001402829-26-000036 ↗ |
| 8-K/A | 2026-03-19 | 2026-03-16 | 0001402829-26-000020 ↗ |
| 8-K | 2026-03-17 | 2026-03-16 | 0001402829-26-000016 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001402829-26-000010 ↗ |
| 10-K | 2026-03-04 | 2025-12-31 | 0001402829-26-000011 ↗ |
| 8-K | 2026-03-04 | 2026-03-03 | 0001402829-26-000006 ↗ |
| 8-K | 2026-02-04 | 2026-02-03 | 0001402829-26-000003 ↗ |
| 8-K | 2025-12-29 | 2025-12-23 | 0001402829-25-000065 ↗ |
| 8-K/A | 2025-11-25 | 2025-09-28 | 0001402829-25-000063 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001402829-25-000061 ↗ |