undamentalytics Newsletter
Sign in

Opendoor Technologies Inc. key statistics and ratios

In fiscal 2025, Opendoor Technologies Inc. had return on equity of -151.3%, an operating margin of -6.6%, debt equal to 130.6% of equity and a current ratio of 7.03. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin7.3%6.3%8.5%9.1%4.3%7.0%8.4%8.0%8.6%
Operating margin−8.9%−5.2%−7.2%−7.1%−6.0%−5.6%−6.2%−6.6%−16.0%
Net margin−13.1%−7.2%−9.8%−8.3%−8.7%−4.0%−7.6%−29.7%−46.7%
Free-cash-flow margin−65.3%−6.3%25.7%−72.6%4.5%33.2%−12.0%23.7%−14.6%
Return on equity——−61.7%−34.8%−81.2%−26.8%−46.7%−151.3%−158.5%
Return on assets—−15.3%−11.5%−11.3%−16.8%−5.4%−11.7%−47.0%−56.7%
Asset turnover—2.121.171.371.931.371.541.581.21
Current ratio—1.855.222.124.3049.215.677.032.94
Debt to equity——30.6%271.4%404.8%220.7%269.8%130.6%214.0%
Interest cover (operating income ÷ interest)n/mn/mn/mn/mn/mn/mn/mn/mn/m
R&D as % of revenue1.5%1.1%2.2%1.7%1.1%2.4%2.7%1.8%2.7%
Capital spending as % of revenue1.1%0.6%0.7%0.4%0.2%0.5%0.5%0.3%0.5%
Dividends and buybacks ÷ free cash flow——0.0%——————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $3.0bn
Short-term assets $2.9bnLonger-term assets $111m
What it owes, and who funded it · $3.0bn
Short-term liabilities $968mLonger-term liabilities $1.1bnShareholders' equity $914m
  • Short-term assets cover short-term liabilities $2.9bn of assets due within a year against $968m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.9bn short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$521m against $114m of interest.

From Opendoor Technologies Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

19 /100

Weak moat

How hard Opendoor Technologies's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -11.8% of total assets over 7 years.

  • Pricing power 6 / 20

    Gross margin has been a median 8.6%, moving by 3.8 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -9.5%; its worst year was -20.2%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 6 years, at a median -19.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (24 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: NMRK vs OPENCSGP vs OPENOPEN vs Z

More: Real Estate Services stocks compared, Real Estate sector, rankings of US companies

Figures from Opendoor Technologies Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Opendoor Technologies Inc.