Opendoor Technologies Inc. (OPEN) Balance Sheet

NASDAQ: OPENAssets, liabilities, debt and equity over 8 years.

OPEN balance sheet, 2025

December 31, 2025 · U.S. dollars

$2.41B assets = $1.40B liabilities + $1.00B equity

Both columns are drawn to the same scale: what OPEN owns equals what it owes plus shareholders’ equity. Hover a block for its value.

OPEN financial health

Current ratio7.03

Comfortable · current assets cover current liabilities 7.03×

Debt / equity0.19

Low leverage · $0.19 of debt for each $1 of equity

Equity / assets41.8%

Equity-funded · of assets funded by shareholders

Cash / debt498.4%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles0.1%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

OPEN balance sheet trends, 2018–2025

Opendoor Technologies Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$1.84B2018	$2.41B2025	+3.9%/yr
Total liabilities	$1.17B2018	$1.40B2025	+2.6%/yr
Shareholders’ equity	$667.0M2018	$1.00B2025	+6.0%/yr
Cash & short-term investments	$272.5M2018	$962.0M2025	+19.7%/yr
Total debt	$1.13B2018	$193.0M2025	−22.3%/yr
Net cash (debt)	−$860.6M2018	$769.0M2025	+$1.6B
Working capital	$740.0M2018	$1.97B2025	+$1.2B
Book value per share	$1.232018	$1.312025	+1.0%/yr
Current ratio	1.692018	7.032025	+5.34
Debt / equity	1.702018	0.192025	−1.51
Shares outstanding	544.4M2018	766.5M2025	+5.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

OPEN assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

OPEN liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

OPEN debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

OPEN balance sheet

Opendoor Technologies Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018
Assets
Cash & short-term investments	$962.0M	$679.0M	$1.07B	$1.28B	$2.21B	$1.46B	$448.7M	$272.5M
Cash & equivalents	$962.0M	$671.0M	$999.0M	$1.14B	$1.73B	$1.41B	$405.1M	$262.4M
Short-term investments	$0	$8.0M	$69.0M	$144.0M	$484.0M	$48.0M	$43.6M	$9.0M
Receivables	$0	$6.0M	$9.0M	$30.0M	$84.0M	$1.0M	$13.9M	−$1.1M
Inventory	$925.0M	$2.16B	$1.77B	$4.46B	$6.10B	$466.0M	$1.31B	$1.36B
Other current assets	$412.0M	$153.0M	$593.0M	$695.0M	$945.0M	$125.0M	$312.7M	$175.0M
Total current assets	$2.30B	$3.00B	$3.44B	$6.47B	$9.34B	$2.05B	$2.09B	$1.81B
Property, plant & equipment (net)	$35.0M	$66.0M	$91.0M	$99.0M	$87.0M	$79.0M	$95.3M	$18.0M
Goodwill & intangible assets	$3.0M	$3.0M	$9.0M	$16.0M	$72.0M	$40.0M	$43.4M	$13.1M
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$70.0M	$60.0M	$22.0M	$27.0M	$7.0M	$4.0M	$5.4M	$3.0M
Total assets	$2.41B	$3.13B	$3.57B	$6.61B	$9.51B	$2.18B	$2.23B	$1.84B
Liabilities
Accounts payable	$0	$9.0M	$2.0M	$5.0M	$3.0M	$3.0M	$6.5M	$6.2M
Short-term debt	—	$434.0M	$5.0M	$1.38B	$4.25B	$367.0M	$1.09B	$1.03B
Deferred revenue	—	—	−$7.0M	—	—	—	—	—
Total current liabilities	$327.0M	$529.0M	$70.0M	$1.50B	$4.40B	$393.0M	$1.13B	$1.07B
Long-term debt	$1.07B	$1.87B	$2.51B	$3.98B	$2.82B	$135.5M	$362.0M	$0
Lease obligations	$7.0M	$15.0M	$24.0M	$45.0M	$46.0M	$67.3M	$61.9M	—
Other long-term liabilities	$7.0M	$14.0M	$20.0M	$38.0M	$42.0M	$94.5M	$1.48B	$105.6M
Total liabilities	$1.40B	$2.41B	$2.60B	$5.52B	$7.26B	$623.0M	$2.96B	$1.17B
Shareholders' equity
Common stock & paid-in capital	—	—	—	—	—	$54,000	$18,000	—
Retained earnings (deficit)	−$5.03B	−$3.73B	−$3.33B	−$3.06B	−$1.71B	−$1.04B	−$790.5M	−$446.1M
Accumulated other comprehensive income	—	—	−$1.0M	−$4.0M	−$2.0M	$41,000	$18,000	−$2,000
Total shareholders' equity	$1.00B	$713.0M	$967.0M	$1.09B	$2.25B	$1.55B	−$733.1M	$667.0M
Key figures
Total debt	$193.0M	$2.32B	$2.53B	$5.40B	$7.11B	$550.0M	$1.50B	$1.13B
Net cash (debt)	$769.0M	−$1.64B	−$1.47B	−$4.12B	−$4.89B	$911.0M	−$1.05B	−$860.6M
Working capital	$1.97B	$2.47B	$3.38B	$4.96B	$4.94B	$1.66B	$961.3M	$740.0M
Tangible book value	$1.00B	$710.0M	$958.0M	$1.07B	$2.18B	$1.51B	−$776.5M	$653.9M
Book value per share	$1.31	$1.02	$1.47	$1.73	$3.79	—	—	$1.23
Shares outstanding	766.5M	699.5M	657.1M	627.1M	592.6M	—	—	544.4M
Current ratio	7.03	5.67	49.21	4.30	2.12	5.22	1.85	1.69
Quick ratio	2.94	1.29	15.39	0.87	0.52	3.72	0.41	0.25
Debt / equity	0.19	3.25	2.62	4.97	3.16	0.35	—	1.70
Equity / assets	41.8%	22.8%	27.1%	16.4%	23.6%	71.4%	−32.8%	36.2%

Opendoor Technologies Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$896.0M	$999.0M	$962.0M	$962.0M	$789.0M	$559.0M	$679.0M	$837.0M	$809.0M	$990.0M	$1.07B	$1.23B
Cash & equivalents	$896.0M	$999.0M	$962.0M	$962.0M	$789.0M	$559.0M	$671.0M	$829.0M	$790.0M	$953.0M	$999.0M	$1.15B
Short-term investments	—	—	$0	$0	$0	$0	$8.0M	$8.0M	$19.0M	$37.0M	$69.0M	$72.0M
Receivables	$0	$0	$0	$0	$10.0M	$20.0M	$6.0M	$15.0M	$24.0M	$15.0M	$9.0M	$11.0M
Inventory	$1.84B	$1.14B	$925.0M	$1.05B	$1.53B	$2.36B	$2.16B	$2.15B	$2.23B	$1.88B	$1.77B	$1.31B
Other current assets	$109.0M	$104.0M	$412.0M	$572.0M	$468.0M	$211.0M	$153.0M	$266.0M	$182.0M	$398.0M	$593.0M	$1.27B
Total current assets	$2.85B	$2.24B	$2.30B	$2.59B	$2.80B	$3.15B	$3.00B	$3.26B	$3.25B	$3.28B	$3.44B	$3.82B
Property, plant & equipment (net)	$34.0M	$33.0M	$35.0M	$40.0M	$46.0M	$61.0M	$66.0M	$84.0M	$94.0M	$89.0M	$91.0M	$95.0M
Goodwill & intangible assets	$3.0M	$3.0M	$3.0M	$3.0M	$3.0M	$3.0M	$3.0M	$3.0M	$6.0M	$8.0M	$9.0M	$11.0M
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$74.0M	$71.0M	$70.0M	$70.0M	$61.0M	$61.0M	$60.0M	$61.0M	$23.0M	$23.0M	$22.0M	$22.0M
Total assets	$2.96B	$2.35B	$2.41B	$2.70B	$2.91B	$3.28B	$3.13B	$3.41B	$3.37B	$3.40B	$3.57B	$3.95B
Liabilities
Accounts payable	$78.0M	$53.0M	$0	$91.0M	$86.0M	$102.0M	$9.0M	$71.0M	$73.0M	$68.0M	$2.0M	$40.0M
Short-term debt	—	—	—	$814.0M	$552.0M	$948.0M	$434.0M	$647.0M	$319.0M	$4.0M	$5.0M	$6.0M
Deferred revenue	—	—	—	—	—	—	—	—	−$4.0M	−$4.0M	−$7.0M	−$73.0M
Total current liabilities	$968.0M	$317.0M	$327.0M	$914.0M	$643.0M	$1.05B	$529.0M	$721.0M	$393.0M	$74.0M	$70.0M	$74.0M
Long-term debt	$1.07B	$1.07B	$1.07B	$966.0M	$1.63B	$1.56B	$1.87B	$1.87B	$2.12B	$2.41B	$2.51B	$2.83B
Lease obligations	$8.0M	$7.0M	$7.0M	$8.0M	$8.0M	$15.0M	$15.0M	$23.0M	$22.0M	$22.0M	$24.0M	$26.0M
Other long-term liabilities	$8.0M	$8.0M	$7.0M	$9.0M	$7.0M	$14.0M	$14.0M	$21.0M	$18.0M	$19.0M	$20.0M	$21.0M
Total liabilities	$2.05B	$1.40B	$1.40B	$1.89B	$2.28B	$2.63B	$2.41B	$2.61B	$2.53B	$2.50B	$2.60B	$2.93B
Shareholders' equity
Retained earnings (deficit)	−$5.37B	−$5.21B	−$5.03B	−$3.93B	−$3.84B	−$3.81B	−$3.73B	−$3.61B	−$3.53B	−$3.44B	−$3.33B	−$3.24B
Accumulated other comprehensive income	−$1.0M	—	—	—	—	—	—	—	—	—	−$1.0M	−$1.0M
Total shareholders' equity	$914.0M	$954.0M	$1.00B	$811.0M	$631.0M	$645.0M	$713.0M	$801.0M	$845.0M	$899.0M	$967.0M	$1.02B
Key figures
Total debt	$194.0M	$193.0M	$193.0M	$1.79B	$2.18B	$2.53B	$2.32B	$2.53B	$2.45B	$2.43B	$2.53B	$2.86B
Net cash (debt)	$702.0M	$806.0M	$769.0M	−$825.0M	−$1.40B	−$1.97B	−$1.64B	−$1.70B	−$1.64B	−$1.44B	−$1.47B	−$1.63B
Working capital	$1.88B	$1.93B	$1.97B	$1.67B	$2.15B	$2.10B	$2.47B	$2.54B	$2.86B	$3.21B	$3.38B	$3.75B
Tangible book value	$911.0M	$951.0M	$1.00B	$808.0M	$628.0M	$642.0M	$710.0M	$798.0M	$839.0M	$891.0M	$958.0M	$1.01B
Book value per share	$0.95	$0.99	$1.31	$1.09	$0.86	$0.89	$1.00	$1.14	$1.22	$1.32	$1.44	$1.54
Shares outstanding	965.8M	959.3M	766.5M	741.9M	729.5M	723.5M	716.3M	705.4M	693.4M	682.5M	672.7M	662.1M
Current ratio	2.94	7.07	7.03	2.83	4.35	2.99	5.67	4.53	8.27	44.38	49.21	51.61
Quick ratio	0.93	3.15	2.94	1.05	1.24	0.55	1.29	1.18	2.12	13.58	15.39	16.72
Debt / equity	0.21	0.20	0.19	2.20	3.46	3.92	3.25	3.16	2.90	2.71	2.62	2.80
Equity / assets	30.9%	40.6%	41.8%	30.0%	21.7%	19.7%	22.8%	23.5%	25.1%	26.4%	27.1%	25.8%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.

OPEN financial position

At the end of fiscal 2025 (December 31, 2025), Opendoor Technologies had total assets of $2.4 billion (down 23.0% from a year earlier), total liabilities of $1.4 billion and shareholders' equity of $1.0 billion. It held $962.0 million in cash and short-term investments against $193.0 million of debt, a net cash position of $769.0 million. Its current ratio was 7.03. In the latest quarter (ended June 30, 2026) total assets were $3.0 billion and equity $914.0 million.

Related: OPEN income statement, OPEN cash flow statement, OPEN key metrics. See the OPEN stock overview for the latest quote and news.

OPEN balance sheet FAQ

What are Opendoor Technologies's total assets?

Opendoor Technologies reported total assets of $2.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.1 billion a year earlier.

How much debt does Opendoor Technologies have?

Opendoor Technologies had $193.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.19.

How much cash does Opendoor Technologies have?

Opendoor Technologies held $962.0 million in cash and short-term investments at the end of fiscal 2025; with $193.0 million of debt that is net cash of $769.0 million.

What is Opendoor Technologies's book value?

Opendoor Technologies's shareholders' equity (book value) was $1.0 billion at the end of fiscal 2025, or $1.31 per share.

What is Opendoor Technologies's current ratio?

Opendoor Technologies had current assets of $2.3 billion and current liabilities of $327.0 million, a current ratio of 7.03 (it can cover its short-term obligations).

How much goodwill does Opendoor Technologies have?

Opendoor Technologies carried $3.0 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2025.