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Oppenheimer Holdings Inc (OPY) stock

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NYSE: OPY NYSE Investment Banking & Brokerage Next results ~January 29, 2027

C+ Fundamentals grade

Oppenheimer Holdings Inc is a US-listed company in the investment banking & brokerage industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$61

Valuation models combined (4)

Base case. Range ~$42–$76. Weighted average of 4 models (price-to-earnings vs peers, residual income, justified price-to-book, dividend discount (two-stage)), the price-to-earnings vs peers counting double.

Price vs value

Overvalued

The price is above our entire value range; our base value is 27% below it.

Price used: $83.77, November 2, 2026

Oppenheimer Holdings Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds71 adding, 47 cuttingOf 36 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Oppenheimer files

10-Q filed October 30: Oppenheimer

Oppenheimer Holdings reported revenue of $1.75bn for the twelve months to September 2026, a rise of 13.9% on the year-earlier period. This marks a deceleration from the previous quarter, when the equivalent growth rate stood at 20.6%. The slowdown suggests that the pace of expansion seen earlier in the year is easing, even as the top line continues to move in the right direction. For a firm of Oppenheimer's size, maintaining double-digit growth remains a reasonable outcome, though the gap between the two periods is notable. Investors watching the trend will want to see whether this moderation continues or proves to be a temporary dip before growth stabilises at a lower, more sustainable rate.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 31: Oppenheimer

Oppenheimer Holdings reported revenue of $1.75bn for the twelve months to June 2026. That figure marks a 13.9% increase on the same period a year earlier. Growth, however, has lost some momentum. A quarter earlier, the year-on-year pace stood at 20.6%, meaning the rate of expansion has slowed by close to seven percentage points. The underlying trend, then, is one of deceleration rather than reversal: the top line continues to rise, just not as quickly as it did in the preceding period. For a firm of Oppenheimer's size, this kind of moderation in the growth rate is worth noting, even as the absolute revenue figure keeps climbing. Whether the slowdown persists will depend on how the business performs over the coming quarters.

10-Q on SEC EDGAR

Where Oppenheimer stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.80bn, up 20.6% on a year earlier, faster than the 18.5% growth a quarter earlier.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 29, 2027 (estimated)

Oppenheimer Holdings Inc's trailing-twelve-month revenue grew 13.9% year on year, with a free-cash-flow margin of 3.3%. Where it stands out: change in share count of -1.0% ranks 7 of 35 investment banking & brokerage companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 27.5% while net income grew 2.2%: a 30pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $83.77 is 27% above our value per share of $61.
  • Growth slowing. The growth rate is 6.8 points lower than a quarter earlier.
  • Weak cash conversion. Free cash flow was 66% of net income over the last 12 months.

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$0.63 against an average estimate of $0.47: beat by 34.0%
Revenue
$382m, down 10.0% on a year earlier
Share reaction
-22.4% in the first session after the results on October 30, 2026, against -2.2% for the S&P 500
Next report
January 29, 2027

Oppenheimer's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.8%
  • 1 week-18.7%
  • 1 month-30.3%
  • This year+16.6%
  • 1 year+22.7%
  • 5 years+70.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Operating margin
7.2%
Net margin
4.9%
EPS (TTM, diluted)
$7.67

Growth

Revenue growth
+13.9%
Change in growth rate
−6.8 pts
Share count change
−1.0%

Earnings

Last results
October 30, 2026
Next results (est.)
January 29, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Our research
  3. Results
  4. Announcement
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Oppenheimer Holdings Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$61
Price used
$87.00close November 3, 2026
Implied change
▼ 29%
Uncertainty
Medium

How we got here: the combined value of 4 valuation models built for a business like Oppenheimer Holdings Inc (see the models table below and how they are combined) , with a 9.45% cost of equity. The models span ~$42–~$76; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Oppenheimer Holdings Inc as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$42 ~$92–$190 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$76 ~$52–$110 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$73 ~$63–$86 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$8.4 ~$100–$380 Left out: out of range vs price (0.10x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$74 ~$62–$91 Included
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$61 ~$42–$76 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Oppenheimer Holdings Inc with brokers, investment banks and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

78 /100

Strong moat

How hard Oppenheimer's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 2.1% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median 7.9%; its worst year was 4.7%.

  • Discipline 20 / 20

    The diluted share count fell 16.0% over five years; stock-based pay has been a median 2.1% 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 (83 before it).

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

Forecasts and guidance

Next results: January 29, 2027, before the open.

Analysts' consensus

No analyst estimates are published for Oppenheimer Holdings Inc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2018 $0.47 $0.63 +34.0%
Mar 2018 $0.32 $0.48 +50.0%
Dec 2017 $0.69 $0.88 +28.2%
Sept 2017 $0.16 $0.53 +232.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
1.3%
of tradable shares
Days to cover
0.72
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
43%
of shares
Held by insiders
42.4%
of shares
Employees
3,062
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +22.7%

$68.25 on October 31, 2025 to $83.77

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.8bn +20.6%
Net margin 5.9% 5.7% −2.6%
P/E multiple 8.9x 9.2x +3.6%
Share count 11m 11m +0.9%

Biggest factor: revenue.

Last 3 years +140.3%

$34.86 on November 3, 2023 to $83.77

ThenNowEffect
Revenue (last 12 months) $1.2bn $1.8bn +45.4%
Net margin 2.6% 5.7% +119.9%
P/E multiple 13.0x 9.2x −29.4%
Share count 12m 11m +6.4%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
OPY+53%−7%−1%+57%+16%+17%
Industry peers (median)+26%−20%+19%+43%+8%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OPY58%67%58%83%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OPY−26%−41%−30%−18%−29%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 55% from August 23, 2018 to March 18, 2020. Getting back needed a 122% gain, reached on December 17, 2020, 274 days after the low.

Price behaviour

52-week range
$63.01 – $124.74
From 52-week high
−32.8%
vs 50-day average
−26.0%
vs 200-day average
−18.2%
Volatility (1 year)
44%
Beta vs S&P 500
1.27

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±8.8%
After a week
5 up, 6 down
typical move ±8.9%
After a month
5 up, 6 down
typical move ±11.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 30, 2026 −22.4% −2.2% — —
July 31, 2026 +2.2% +2.2% +0.8% +7.5%
May 1, 2026 −13.9% −0.1% −16.5% −16.8%
January 30, 2026 +16.9% +0.2% +21.3% +16.7%
October 31, 2025 −3.2% +0.5% −1.9% −3.0%
August 1, 2025 −1.7% −0.1% −5.2% −3.2%
April 25, 2025 −1.6% +0.8% +3.5% +11.2%
January 31, 2025 −6.0% −1.2% −7.5% −12.7%
October 25, 2024 +18.8% +0.3% +19.3% +25.8%
July 26, 2024 −9.5% +1.2% −14.6% −10.3%
April 26, 2024 +6.0% +1.3% +4.8% +17.5%
January 26, 2024 −3.3% +0.7% −2.8% −2.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Oppenheimer Holdings Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Oppenheimer Holdings Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Oppenheimer Holdings Inc
$1.2B $1.4B $1.6B $1.8B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.2B Revenue (TTM), FY24 Q1: $1.3B Revenue (TTM), FY24 Q2: $1.3B Revenue (TTM), FY24 Q3: $1.4B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.4B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.5B Revenue (TTM), FY25 Q4: $1.6B Revenue (TTM), FY26 Q1: $1.7B Revenue (TTM), FY26 Q2: $1.8B Revenue (TTM), FY26 Q3: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.2B
FY24 Q1 $1.3B
FY24 Q2 $1.3B
FY24 Q3 $1.4B
FY24 Q4 $1.4B
FY25 Q1 $1.4B
FY25 Q2 $1.5B
FY25 Q3 $1.5B
FY25 Q4 $1.6B
FY26 Q1 $1.7B
FY26 Q2 $1.8B
FY26 Q3 $1.8B
Revenue growth, TTM YoY Oppenheimer Holdings Inc
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 12.4% Revenue growth, TTM YoY, FY24 Q1: 9.7% Revenue growth, TTM YoY, FY24 Q2: 5.6% Revenue growth, TTM YoY, FY24 Q3: 8.9% Revenue growth, TTM YoY, FY24 Q4: 14.7% Revenue growth, TTM YoY, FY25 Q1: 13.0% Revenue growth, TTM YoY, FY25 Q2: 14.2% Revenue growth, TTM YoY, FY25 Q3: 12.9% Revenue growth, TTM YoY, FY25 Q4: 14.4% Revenue growth, TTM YoY, FY26 Q1: 18.5% Revenue growth, TTM YoY, FY26 Q2: 20.6% Revenue growth, TTM YoY, FY26 Q3: 13.9% 13.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 12.4%
FY24 Q1 9.7%
FY24 Q2 5.6%
FY24 Q3 8.9%
FY24 Q4 14.7%
FY25 Q1 13.0%
FY25 Q2 14.2%
FY25 Q3 12.9%
FY25 Q4 14.4%
FY26 Q1 18.5%
FY26 Q2 20.6%
FY26 Q3 13.9%
Operating margin (TTM) Oppenheimer Holdings Inc
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 3.7% Operating margin (TTM), FY24 Q1: 5.1% Operating margin (TTM), FY24 Q2: 7.1% Operating margin (TTM), FY24 Q3: 7.8% Operating margin (TTM), FY24 Q4: 7.4% Operating margin (TTM), FY25 Q1: 7.6% Operating margin (TTM), FY25 Q2: 8.5% Operating margin (TTM), FY25 Q3: 7.9% Operating margin (TTM), FY25 Q4: 12.9% Operating margin (TTM), FY26 Q1: 8.3% Operating margin (TTM), FY26 Q2: 8.3% Operating margin (TTM), FY26 Q3: 7.2% 7.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 3.7%
FY24 Q1 5.1%
FY24 Q2 7.1%
FY24 Q3 7.8%
FY24 Q4 7.4%
FY25 Q1 7.6%
FY25 Q2 8.5%
FY25 Q3 7.9%
FY25 Q4 12.9%
FY26 Q1 8.3%
FY26 Q2 8.3%
FY26 Q3 7.2%
FCF margin (TTM) Oppenheimer Holdings Inc
-10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -2.9% FCF margin (TTM), FY24 Q1: -2.0% FCF margin (TTM), FY24 Q2: -5.5% FCF margin (TTM), FY24 Q3: -9.1% FCF margin (TTM), FY24 Q4: -7.9% FCF margin (TTM), FY25 Q1: -8.8% FCF margin (TTM), FY25 Q2: 1.9% FCF margin (TTM), FY25 Q3: 5.1% FCF margin (TTM), FY25 Q4: 11.2% FCF margin (TTM), FY26 Q1: 5.1% FCF margin (TTM), FY26 Q2: -0.5% FCF margin (TTM), FY26 Q3: 3.3% 3.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -2.9%
FY24 Q1 -2.0%
FY24 Q2 -5.5%
FY24 Q3 -9.1%
FY24 Q4 -7.9%
FY25 Q1 -8.8%
FY25 Q2 1.9%
FY25 Q3 5.1%
FY25 Q4 11.2%
FY26 Q1 5.1%
FY26 Q2 -0.5%
FY26 Q3 3.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 990 1,036 959 953 1,020 981 898 858 920 958 1,033 1,199 1,394 1,111 1,249 1,432 1,638 1,755
EBITDA — — — — — — — — — 52 83 177 233 53 57 117 222 —
Operating income — — — — — — — — — 45 75 169 225 46 47 106 211 127
Net income 21 39 10 −4 25 9 2 −1 23 29 53 123 159 32 30 72 148 87
Diluted EPS $1.55 $2.77 $0.74 −$0.27 $1.77 $0.62 $0.14 −$0.09 $1.67 $2.05 $3.82 $9.30 $11.70 $2.57 $2.59 $6.37 $13.04 $7.67
Growth (year on year)
Revenue — +4.6% −7.5% −0.7% +7.0% −3.8% −8.5% −4.5% +7.3% +4.1% +7.9% +16.0% +16.3% −20.3% +12.4% +14.7% +14.4% +13.9%
EBITDA — — — — — — — — — — +59.5% +114.6% +31.3% −77.2% +6.6% +105.7% +90.6% —
Operating income — — — — — — — — — — +67.0% +125.6% +32.9% −79.7% +2.7% +126.1% +99.7% +4.0%
Net income — +85.0% −73.2% — — −64.8% — — — +26.6% +83.3% +132.3% +29.3% −79.6% −6.7% +137.1% +107.4% +2.2%
Diluted EPS — +78.7% −73.3% — — −65.0% — — — +22.8% +86.3% +143.5% +25.8% −78.0% +0.8% +145.9% +104.7% +3.1%
Margins
EBITDA margin — — — — — — — — — 5.4% 8.0% 14.8% 16.7% 4.8% 4.5% 8.1% 13.6% —
Operating margin — — — — — — — — — 4.7% 7.2% 14.1% 16.1% 4.1% 3.7% 7.4% 12.9% 7.2%
Net margin 2.1% 3.7% 1.1% −0.4% 2.5% 0.9% 0.2% −0.1% 2.5% 3.0% 5.1% 10.3% 11.4% 2.9% 2.4% 5.0% 9.1% 4.9%
Free-cash-flow margin 4.7% −14.4% 8.0% −2.5% −1.7% 7.5% −2.8% −8.5% −2.4% 16.7% 6.7% −4.9% 15.7% 4.3% −2.9% −7.9% 11.2% 3.3%
Cash flow
Cash from operations 55 −137 82 −9 −3 78 −19 −67 −16 169 79 −54 228 64 −19 −108 189 64
Capital spending 8 12 5 15 14 4 6 6 6 9 10 5 8 16 17 5 5 7
Free cash flow 47 −149 76 −24 −17 74 −25 −73 −22 160 69 −59 220 48 −36 −113 184 57
Stock-based pay 17 4 1 4 9 6 3 6 13 7 12 16 31 16 17 46 32 85
Free cash flow after stock pay 30 −154 75 −28 −27 68 −28 −79 −34 153 57 −75 188 32 −53 −159 151 −27
Balance sheet
Cash 69 53 70 135 98 64 63 65 48 91 80 35 214 112 29 33 38 38
Total debt 0 — 195 195 195 150 150 150 200 200 150 124 124 113 113 0 0 0
Net debt (negative = net cash) −69 −53 125 60 97 86 87 85 152 109 70 88 −90 1 84 −33 −38 −38
Diluted shares 13m 14m 14m 14m 14m 14m 14m 13m 14m 14m 14m 13m 14m 13m 12m 11m 11m 11m
Returned to shareholders
Dividends 6 6 6 6 6 6 6 6 6 6 6 19 19 7 6 7 8 19
Buybacks 1 — — 2 4 0 8 4 7 6 8 15 8 61 35 10 3 2
Total returned 6 6 6 8 10 6 14 10 13 12 14 34 27 68 42 16 11 21

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$2.3M
Dividends (TTM)
$18.6M
Returned to shareholders
36%
of free cash flow
Buybacks, last 3 fiscal years
$47.7M
Diluted share count
−1.0%
year over year
Total shareholder yield
2.1%
dividends 1.9% + buybacks 0.2% of market value
Dividend payout ratio
22%
of net income paid out

Competitors: side by side with peers

Closest by revenue in investment banking & brokerage
Last 12 months unless stated OPY PJT MRX PIPR XP HLI Median
Revenue, last 12 months $1.8bn $1.9bn $2.0bn $2.1bn $1.4bn $2.6bn $2.0bn
Revenue growth, last 12 months 13.9% 22.9% 26.9% 32.1% 3.1% −0.4% 20.7%
Revenue growth, 3-year average 11.8% 20.0% — 17.1% — 12.7% 16.2%
Revenue growth, latest quarter −10.0% 19.5% — 24.5% — 4.8% 17.4%
Operating margin 7.2% — — — — 20.3% −2.3%
Operating margin, 3-year average 7.7% — — — — 20.3% 9.4%
Net margin 4.9% 10.6% 14.5% 14.5% 64.9% 15.8% 5.8%
Cash from operations / revenue 3.7% 37.8% 33.0% 23.9% 151.2% 16.7% 7.7%
Free-cash-flow margin 3.3% 35.1% 32.3% 23.0% 148.6% 15.7% 5.2%
Free-cash-flow margin, 3-year average −0.2% 33.0% — 20.3% 33.2% 23.3% 16.8%
Stock pay / revenue 4.8% 12.5% — 6.0% 4.9% 7.8% 4.7%
Change in share count −1.0% — 1.1% 0.1% −3.0% −1.6% 1.2%

Median of all 40 companies we cover in investment banking & brokerage. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 investment banking & brokerage companies
Measure Company Peer median Rank
Revenue growth Growth 13.9% 20.8% 25 of 40
Change in growth rate Growth -6.8pp -0.3pp 29 of 40
Operating margin Profitability 7.2% -2.3% 5 of 17
Net margin Profitability 4.9% 6.0% 23 of 40
Stock pay as % of revenue Cash generation 4.8% 4.8% 19 of 36
Change in share count Balance sheet -1.0% 1.2% 7 of 35

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Advisory Fees $555M ▲ 14.9%
Commissions From Sales and Trading $431M ▲ 14.5%
Investment Banking Capital Markets $153M ▲ 121.0%
Bank Deposit Sweep Income $115M ▼ 17.3%
Investment Banking Advisory $114M ▲ 5.8%
Mutual Fund Income $33M ▲ 0.6%
Other $23M ▲ 11.2%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
Americas $1.6B 96.0% ▲ 14.2%
Europe Middle East $63.1M 3.9% ▲ 20.3%
Asia $2.6M 0.2% ▼ 30.5%

From Oppenheimer Holdings Inc's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$470M
Institutions reporting
120
Shares held vs prior quarter
▲ 5.5%
Positions opened / closed
25 / 17

Top buyers and sellers, Q2 2026: 71 institutions bought and 47 sold ; the biggest buyer was Arbiter Partners Capital Management LLC (+78K shares) and the biggest seller Greenwich Wealth Management LLC (−101K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Dimensional Fund Advisors LP $54.9M 520K 11.7% ▲ 4.7%
Jb Capital Partners LP $53.2M 504K 11.3% 0.0%
American Century Companies Inc $41.4M 392K 8.8% ▲ 11.1%
Vanguard Capital Management LLC $40.6M 384K 8.6% ▼ 1.8%
Blackrock, Inc. $21.5M 203K 4.6% ▲ 8.8%
Royce & Associates LP $17.9M 170K 3.8% 0.0%
Rbf Capital, LLC $17.3M 164K 3.7% 0.0%
Boston Partners $16.7M 158K 3.6% ▲ 20.5%
Arbiter Partners Capital Management LLC $14.1M 133K 3.0% ▲ 142.2%
Morgan Stanley $11.3M 107K 2.4% ▲ 21.3%
Geode Capital Management, LLC $9.7M 92K 2.1% ▲ 6.3%
Charles Schwab Investment Management Inc $9.1M 86K 1.9% ▼ 14.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Oppenheimer Holdings Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $423,701 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $423,701 net selling
Insider Date Trade Shares Price Value
Mcnamara Dennis P Secretary March 2, 2026 Sell 4,673 $90.67 $423,701

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Oppenheimer Holdings Inc disclosed in the last 12 months; 1 earlier trade on record.

  • Raúl M. Grijalva(D-AZ 3):Purchase, $1,001 - $15,000, traded April 10, 2015, filed May 14, 2015

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 29, 2027 estimated from the company's past filing pattern, not announced

  • October 30, 2026
  • July 31, 2026
  • May 1, 2026
  • January 30, 2026
  • October 31, 2025
  • August 1, 2025

Recent SEC filings

Data status

When each part of this page on Oppenheimer Holdings Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Oppenheimer Holdings Inc in brief

What does Oppenheimer Holdings Inc do?
Oppenheimer Holdings Inc is a US-listed company in the investment banking & brokerage industry. Its financial year ends in December.
What is Oppenheimer Holdings Inc's stock ticker?
Oppenheimer Holdings Inc trades under the ticker OPY on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Oppenheimer Holdings Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Oppenheimer Holdings Inc reported revenue of $1.8B, 13.9% higher than a year earlier, according to its SEC filings.
What is Oppenheimer Holdings Inc's free cash flow?
Oppenheimer Holdings Inc's free-cash-flow margin is 3.3% of revenue over the trailing twelve months.
Who are Oppenheimer Holdings Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Dimensional Fund Advisors LP, Jb Capital Partners LP and American Century Companies Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Oppenheimer Holdings Inc buying back stock, and does it pay a dividend?
Oppenheimer Holdings Inc spent $2.3M on share repurchases over the trailing twelve months, and its diluted share count fell 1.0% over the year.
What is Oppenheimer Holdings Inc's market cap?
On November 2, 2026, Oppenheimer Holdings Inc's market capitalisation was about $946M, with a price-to-earnings ratio of 10.9 and net debt of -$38M. Market figures come from third-party market data and may be delayed.
Does Oppenheimer Holdings Inc pay a dividend?
Yes: Oppenheimer Holdings Inc paid $18.6M in dividends over the trailing twelve months, a dividend yield of 1.92% and a payout ratio of 21.5%.
Who are Oppenheimer Holdings Inc's competitors?
In our Investment Banking & Brokerage peer group, the companies closest to Oppenheimer Holdings Inc are PJT Partners Inc., Marex Group Ltd, Piper Sandler Companies, XP Inc. and Houlihan Lokey, Inc. The side-by-side comparison below sets their revenue, margins and growth against Oppenheimer Holdings Inc's.
Are insiders buying or selling Oppenheimer Holdings Inc stock?
Over the last 12 months, Oppenheimer Holdings Inc's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Oppenheimer Holdings Inc's next earnings date?
Around January 29, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Oppenheimer Holdings Inc announces its own schedule.