OPENNasdaqReal Estate Agents & Managers (For Others)Fiscal year ends December 31Also trades as OPENL, OPENW, OPENZ
Opendoor Technologies Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$2.05−0.07 (-3.07%)
Close on Oct 19, 2026
- Market cap
- $1.98B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
8.0%−0.5 pts over 5 years
Operating margin
-6.6%+0.6 pts over 5 years
Net margin
-29.7%−19.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -15.2% | -34.5% | +11.1% | – | |
| Gross profit | -19.2% | -19.3% | +9.7% | – | |
| Free cash flow | – | +14.4% | +9.3% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -61.7% | -151.3% | |
| Return on assets | – | -11.5% | -47.0% | |
| Current ratio | – | 5.22 | 7.03 | |
| Interest coverage | – | -2.7× | -2.2× | |
| Capex to revenue | – | 0.7% | 0.3% | |
| Diluted shares | – | 109M | 767M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Opendoor Technologies generated $10.51B from operations and spent $144.00M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$10.51B
Used
$144.00M
Capital expenditure$144.00M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-29.7%
×Asset turnover1.58×
×Equity multiplier3.22×
=Return on equity, FY2025-151.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -29.7% | 1.58× | 3.22× | -151.3% |
| FY2024 | -7.6% | 1.54× | 3.98× | -46.7% |
| FY2023 | -4.0% | 1.37× | 4.96× | -26.8% |
| FY2022 | -8.7% | 1.93× | 4.83× | -81.2% |
| FY2021 | -8.3% | 1.37× | 3.07× | -34.8% |
| FY2020 | -9.8% | 1.17× | 5.38× | -61.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$1.30B
- Cash generatingOperating cash flow above zero$1.05B
- Return on assets improvedROA up on the prior year-11.0% → -41.6%
- Earnings backed by cashOperating cash flow above net income$1.05B vs -$1.30B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.67 → 7.03
- No dilutionShare count did not rise699M → 767M
- Gross margin improvedGross margin up on the prior year8.40% → 8.01%
- More efficientAsset turnover rose1.44 → 1.40