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Friday 6 November 2026
Export OPEN’s income statement to Excel — free account
Opendoor Technologies Inc.
OPEN Real Estate Real Estate Services
Opendoor Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.4 billion, down 15.2% from fiscal 2024.
- Revenue
- +11.7%
- EPS
- −91.7%
- Free cash flow
- −293.5%
- Total debt
- −10.1%
Quarter to September 2026, against a year earlier
1.78
0.20
−10.10%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 1,838 | 4,741 | 2,583 | 8,021 | 15,567 | 6,946 | 5,153 | 4,371 | 3,361 | +13.2% | 3,813 | 7,272 | 9,182 | +28.1% | |
| Gross margin, % | — | — | 7.26 | 6.35 | 8.52 | 9.10 | 4.28 | 7.01 | 8.40 | 8.01 | 7.53 | +0.8 pt | ||||||
| EBT | — | — | (240) | (339) | (253) | (661) | (1,351) | (274) | (391) | (1,300) | (1,649) | +27.3% | ||||||
| EBT margin, % | — | — | (13.03) | (7.15) | (9.79) | (8.24) | (8.68) | (3.94) | (7.59) | (29.74) | (49.06) | (16.7) pt | ||||||
| Net income | — | 0 | (240) | (339) | (253) | (662) | (1,353) | (275) | (392) | (1,300) | (1,649) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 23.40 | 59.28 | 23.63 | 13.54 | 24.82 | 10.57 | 7.37 | 5.70 | 3.54 | (18.3%) | |||||
| Earnings | — | — | (3.05) | (4.24) | (2.31) | (1.12) | (2.16) | (0.42) | (0.56) | (1.70) | (1.84) | (8.0%) | ||||||
| Cash flow | — | — | (15.01) | (3.40) | 6.24 | (9.78) | 1.16 | 3.57 | (0.85) | 1.37 | (1.82) | n/m | ||||||
| Capex | — | — | (0.25) | (0.35) | (0.16) | (0.06) | (0.06) | (0.06) | (0.04) | (0.02) | (0.02) | (32.8%) | ||||||
| Free cash flow | — | — | (15.27) | (3.75) | 6.08 | (9.84) | 1.11 | 3.51 | (0.89) | 1.35 | (1.83) | n/m | ||||||
| Book value | — | — | 0.00 | (9.17) | 14.21 | 3.79 | 1.73 | 1.47 | 1.02 | 1.31 | 0.62 | n/m | ||||||
| Shares, m | — | — | 79 | 80 | 109 | 593 | 627 | 657 | 699 | 767 | 910 | +38.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | 0.00 | 0.00 | 0.96 | 1.08 | 0.04 | 0.40 | 0.22 | 1.02 | 0.50 | 0.5 | ||||||
| P/B | — | — | 266,909.29 | 266,909.29 | 1.60 | 3.85 | 0.64 | 2.91 | 1.57 | 4.45 | 2.85 | 66,729.2 | ||||||
| EV/Sales | — | — | 0.00 | 0.00 | 0.43 | 1.58 | 0.26 | 0.54 | 0.51 | 1.03 | 0.80 | 0.5 | ||||||
| EV/FCF | — | — | 0.00 | 0.00 | 1.68 | (2.17) | 5.94 | 1.61 | (4.27) | 4.33 | (1.54) | 0.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (1,180) | (272) | 682 | (5,794) | 730 | 2,344 | (595) | 1,049 | (1,726) | n/m | |||||
| Capex | — | — | (20) | (28) | (17) | (34) | (37) | (37) | (25) | (12) | (16) | (7.1%) | ||||||
| Free cash flow | — | — | (1,200) | (300) | 665 | (5,828) | 693 | 2,307 | (620) | 1,037 | (1,742) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | 961 | 1,660 | 4,940 | 4,961 | 3,375 | 2,468 | 1,972 | 1,466 | +12.7% | |||||
| Net debt | — | — | — | 708 | (1,412) | 4,001 | 3,420 | 901 | 1,531 | 12 | 994 | (49.3%) | ||||||
| Shareholders’ equity | — | — | — | (733) | 1,553 | 2,248 | 1,086 | 967 | 713 | 1,005 | 592 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (30.56) | (11.48) | (11.33) | (16.79) | (5.41) | (11.71) | (46.99) | (51.21) | (47.0) pt | |||||
| ROIC | — | — | 0.00 | 0.00 | (82.17) | (5.68) | (12.91) | (12.91) | (8.91) | (17.64) | (67.57) | (17.6) pt | ||||||
| ROE | — | — | 0.00 | 46.52 | (61.72) | (34.83) | (81.16) | (26.79) | (46.67) | (151.34) | (235.07) | (151.3) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 1,048 | 2,816 | 2,570 | 1,982 | 1,470 | 1,042 | — | (0.1%) | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 2.46 | 2.85 | 6.06 | 3.50 | 3.51 | 4.19 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Opendoor Technologies Inc. vs peers in Real Estate Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CIGI Colliers International Group Inc. | $5.0B | 45.4× | 36.5× | +16.68% (above 0%: growing) | +600.00% (above 0%: growing) | +285.13% (above 0%: growing) | 40.39% | 6.26% | Compare |
| CWK Cushman & Wakefield PLC | $3.5B | 48.9× | 12.4× | +7.75% (above 0%: growing) | +0.91% (above 0%: growing) | −21.73% (below 0%: shrinking) | 17.32% | 4.63% | Compare |
| IHS IHS Holding Limited | $2.9B | 20.1× | 11.9× | +10.41% (above 0%: growing) | n/m | −41.30% (below 0%: shrinking) | 48.32% | 19.32% | Compare |
| NMRK Newmark Group, Inc. | $2.2B | 14.4× | 14.6× | +17.03% (above 0%: growing) | −8.33% (below 0%: shrinking) | +188.46% (above 0%: growing) | 100.00% | 4.55% | Compare |
| OPEN Opendoor Technologies Inc. | $1.9B | — (loss-making) | — (loss-making) | +11.69% (above 0%: growing) | n/m | −293.52% (below 0%: shrinking) | 3.72% | (18.30%) | |
| HBNB Hotel101 Global Holdings Corp. | $1.2B | — | — | — | — | — | — | — | Compare |
| MMI Marcus & Millichap, Inc. | $1.1B | 78.3× | 63.6× | +17.78% (above 0%: growing) | n/m | +10.09% (above 0%: growing) | 37.58% | 1.09% | Compare |
| IRS IRSA Inversiones Y Representaciones S.A. | $1.1B | 3.6× | — | −6.72% (below 0%: shrinking) | −34.23% (below 0%: shrinking) | −94.09% (below 0%: shrinking) | 57.01% | 103.31% | Compare |
| AGNT AGNT, Inc. | $713.6M | — (loss-making) | — (loss-making) | +5.78% (above 0%: growing) | n/m | −30.63% (below 0%: shrinking) | 0.00% | 0.22% | Compare |
| Median of peers | $1.7B | 32.7× | 14.6× | +10.41% | −3.71% | −21.73% | 40.39% | 4.63% |
Pay and ownership Proxy statement filed 28 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 741.14m | 428.48m | 19.00 |
Ownership
Directors and executive officers, together
less than 1%
Morgan Stanley
10.16%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement