Opendoor Technologies Inc. (OPEN) Key Metrics
OPEN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.04B
- Enterprise value
- $3.57B
- P/E (TTM)
- —
- Forward P/E
- 64.1
- PEG ratio
- —
- Price / sales
- 0.6 10-yr median 0.4
- Price / book
- 2.7 10-yr median 3.0
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 3.75
OPEN key metrics, 2017–2025
Fiscal year ended December 31, 2025 · U.S. dollarsOPEN valuation Price multiples at each fiscal year-end price.
Price / sales+370.8%
1.0
2025 · hover or tap a bar for each year
20172025
Price / book+183.3%
4.4
2025 · hover or tap a bar for each year
20172025
Price / free cash flow
4.3
2025 · hover or tap a bar for each year
20172025
Free cash flow yield+78.6 pts
23.2%
2025 · hover or tap a bar for each year
20172025
OPEN returns How much profit the business earns on the capital it uses.
Return on equity−104.7 pts
−151.3%
2025 · hover or tap a bar for each year
20172025
Return on invested capital−7.0 pts
−17.5%
2025 · hover or tap a bar for each year
20172025
Return on assets−35.3 pts
−47.0%
2025 · hover or tap a bar for each year
20172025
Free cash flow margin+35.8 pts
23.7%
2025 · hover or tap a bar for each year
20172025
Asset turnover+2.6%
1.58
2025 · hover or tap a bar for each year
20172025
OPEN per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−22.6%
$5.70
2025 · hover or tap a bar for each year
20172025
Earnings per share
−$1.70
2025 · hover or tap a bar for each year
20172025
Free cash flow per share
$1.35
2025 · hover or tap a bar for each year
20172025
Book value per share+28.6%
$1.31
2025 · hover or tap a bar for each year
20172025
Shares outstanding+9.6%
766.5M
2025 · hover or tap a bar for each year
20172025
OPEN financial health Debt, liquidity and how easily interest is covered.
Debt / equity−94.1%
0.19
2025 · hover or tap a bar for each year
20172025
Net debt−$2.4B
−$769.0M
2025 · hover or tap a bar for each year
20172025
Current ratio+24.1%
7.03
2025 · hover or tap a bar for each year
20172025
Interest coverage
-2.2
2025 · hover or tap a bar for each year
20172025
Debt / assets−89.2%
0.08
2025 · hover or tap a bar for each year
20172025
OPEN efficiency & capital use Working capital cycle and where the cash goes.
Days of inventory−12 days
140 days
2025 · hover or tap a bar for each year
20172025
Days payables outstanding0 days
0 days
2025 · hover or tap a bar for each year
20172025
Capex / revenue−0.2 pts
0.3%
2025 · hover or tap a bar for each year
20172025
Dividends + buybacks / FCF
0.0%
2025 · hover or tap a bar for each year
20172025
OPEN valuation history
Fiscal year-endToday9-year median
OPEN returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
OPEN debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
OPEN cash returned to shareholders
DividendsBuybacksFree cash flow
OPEN price vs earnings per share
Share price at year-endEPS (right axis)
OPEN key metrics
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||
| Market capitalization | $4.47B | $1.12B | $2.94B | $727.4M | $8.66B | — | — | — | — |
| Enterprise value | $3.70B | $2.76B | $4.41B | $4.85B | $13.55B | — | — | — | — |
| Price / sales | 1.0 | 0.2 | 0.4 | 0.0 | 1.1 | — | — | — | — |
| Price / book | 4.4 | 1.6 | 3.0 | 0.7 | 3.9 | — | — | — | — |
| Price / free cash flow | 4.3 | — | 1.3 | 1.0 | — | — | — | — | — |
| Price / operating cash flow | 4.3 | — | 1.3 | 1.0 | — | — | — | — | — |
| EV / sales | 0.8 | 0.5 | 0.6 | 0.3 | 1.7 | — | — | — | — |
| EV / EBITDA | — | — | 490.0 | — | — | — | — | — | — |
| EV / free cash flow | 3.6 | — | 1.9 | 7.0 | — | — | — | — | — |
| Earnings yield | −29.1% | −35.0% | −9.3% | −186.0% | −7.6% | — | — | — | — |
| Free cash flow yield | 23.2% | −55.4% | 78.4% | 95.3% | −67.3% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | — | — | — | 0.0% | — | — | — | — |
| Share price at fiscal year-end | $5.83 | $1.60 | $4.48 | $1.16 | $14.61 | $22.73 | — | — | — |
| Per share | |||||||||
| Revenue per share | $5.70 | $7.37 | $10.57 | $24.82 | $13.54 | — | — | $3.38 | — |
| Earnings per share | −$1.70 | −$0.56 | −$0.42 | −$2.16 | −$1.12 | — | — | −$0.44 | — |
| Operating cash flow per share | $1.37 | −$0.85 | $3.57 | $1.16 | −$9.78 | — | — | −$2.17 | — |
| Free cash flow per share | $1.35 | −$0.89 | $3.51 | $1.11 | −$9.83 | — | — | −$2.20 | — |
| Cash per share | $1.26 | $0.97 | $1.63 | $2.04 | $3.74 | — | — | $0.50 | — |
| Book value per share | $1.31 | $1.02 | $1.47 | $1.73 | $3.79 | — | — | $1.23 | — |
| Tangible book value per share | $1.31 | $1.02 | $1.46 | $1.71 | $3.67 | — | — | $1.20 | — |
| Capex per share | $0.02 | $0.04 | $0.06 | $0.06 | $0.06 | — | — | $0.04 | — |
| Debt per share | $0.25 | $3.31 | $3.86 | $8.61 | $12.00 | — | — | $2.08 | — |
| Shares outstanding | 766.5M | 699.5M | 657.1M | 627.1M | 592.6M | — | — | 544.4M | — |
| Change in shares outstanding | +9.6% | +6.4% | +4.8% | +5.8% | — | — | — | — | — |
| Returns & profitability | |||||||||
| Return on equity (ROE) | −151.3% | −46.7% | −26.8% | −81.2% | −34.8% | −61.7% | — | −36.2% | — |
| Return on invested capital (ROIC) | −17.5% | −10.6% | −8.0% | −11.9% | −11.5% | −30.7% | −21.3% | −8.5% | — |
| Return on assets (ROA) | −47.0% | −11.7% | −5.4% | −16.8% | −11.3% | −11.5% | −16.7% | −13.1% | — |
| Return on tangible assets | −54.1% | −12.6% | −7.7% | −20.5% | −7.0% | −11.8% | −15.6% | −13.2% | — |
| Free cash flow margin | 23.7% | −12.0% | 33.2% | 4.5% | −72.6% | 25.7% | −6.3% | −65.3% | −31.1% |
| Financial health | |||||||||
| Total debt | $193.0M | $2.32B | $2.53B | $5.40B | $7.11B | $550.0M | $1.50B | $1.13B | — |
| Cash & short-term investments | $962.0M | $679.0M | $1.07B | $1.28B | $2.21B | $1.46B | $448.7M | $272.5M | — |
| Net debt | −$769.0M | $1.64B | $1.47B | $4.12B | $4.89B | −$911.0M | $1.05B | $860.6M | — |
| Debt / equity | 0.19 | 3.25 | 2.62 | 4.97 | 3.16 | 0.35 | — | 1.70 | — |
| Debt / assets | 0.08 | 0.74 | 0.71 | 0.82 | 0.75 | 0.25 | 0.67 | 0.62 | — |
| Net debt / EBITDA | — | — | 162.89 | — | — | — | — | — | — |
| Current ratio | 7.03 | 5.67 | 49.21 | 4.30 | 2.12 | 5.22 | 1.85 | 1.69 | — |
| Quick ratio | 4.20 | 1.58 | 23.86 | 1.33 | 0.74 | 4.04 | 0.69 | 0.42 | — |
| Interest coverage | -2.2 | -2.4 | -1.8 | -2.4 | -4.0 | -2.7 | -2.3 | -2.7 | — |
| Working capital | $1.97B | $2.47B | $3.38B | $4.96B | $4.94B | $1.66B | $961.3M | $740.0M | — |
| Invested capital | $236.0M | $2.35B | $2.43B | $5.21B | $7.14B | $642.0M | $316.3M | $1.53B | — |
| Tangible asset value | $1.00B | $710.0M | $958.0M | $1.07B | $2.18B | $1.51B | −$776.5M | $655.4M | — |
| Net current asset value | $897.0M | $584.0M | $845.0M | $944.0M | $2.08B | $1.43B | −$877.1M | $634.4M | — |
| Graham net-net per share | $0.03 | −$0.93 | −$0.97 | −$3.17 | −$3.26 | — | — | −$0.41 | — |
| Capital allocation | |||||||||
| Dividends paid | — | — | — | — | — | — | $321.2M | — | — |
| Share buybacks (net) | $0 | — | — | — | $0 | $0 | $3.0M | $37.8M | — |
| Dividends + buybacks / free cash flow | 0.0% | — | — | — | — | 0.0% | — | — | — |
| Capex / revenue | 0.3% | 0.5% | 0.5% | 0.2% | 0.4% | 0.7% | 0.6% | 1.1% | 0.4% |
| Capex / operating cash flow | 1.1% | — | 1.6% | 5.1% | — | 2.5% | — | — | — |
| Capex / depreciation | 0.26 | 0.47 | 0.51 | 0.41 | 0.60 | 0.27 | 0.71 | 1.57 | 0.39 |
| Stock-based compensation / revenue | 3.6% | 2.2% | 1.8% | 1.1% | 6.7% | 1.5% | 0.3% | 0.5% | 0.5% |
| R&D / revenue | 1.8% | 2.7% | 2.4% | 1.1% | 1.7% | 2.2% | 1.1% | 1.5% | 2.3% |
| SG&A / revenue | 12.5% | 11.5% | 10.0% | 8.7% | 14.5% | 13.5% | 10.5% | 14.6% | 15.7% |
| Efficiency | |||||||||
| Days sales outstanding | — | 0.5 | 1.0 | 1.3 | 1.9 | 1.1 | 0.5 | -0.2 | — |
| Days of inventory on hand | 140.0 | 152.1 | 176.2 | 129.3 | 164.3 | 137.3 | 109.9 | 291.6 | — |
| Days payables outstanding | 0.4 | 0.4 | 0.2 | 0.1 | 0.2 | 0.7 | 0.5 | 1.3 | — |
| Cash conversion cycle (days) | — | 152.2 | 177.0 | 130.5 | 166.0 | 137.7 | 109.9 | 290.0 | — |
| Receivables turnover | — | 687.07 | 356.21 | 273.11 | 188.73 | 347.13 | 742.17 | — | — |
| Payables turnover | 893.56 | 858.18 | 1,845.43 | 3,725.00 | 2,430.33 | 499.95 | 699.76 | 273.31 | — |
| Inventory turnover | 2.61 | 2.40 | 2.07 | 2.82 | 2.22 | 2.66 | 3.32 | 1.25 | — |
| Asset turnover | 1.58 | 1.54 | 1.37 | 1.93 | 1.37 | 1.17 | 2.33 | 1.00 | — |
| Average receivables | — | $7.5M | $19.5M | $57.0M | $42.5M | $7.4M | $6.4M | −$1.1M | — |
| Average payables | $4.5M | $5.5M | $3.5M | $4.0M | $3.0M | $4.7M | $6.3M | $6.2M | — |
| Average inventory | $1.54B | $1.97B | $3.12B | $5.28B | $3.28B | $889.2M | $1.34B | $1.36B | — |
| Intangibles / total assets | 0.1% | 0.1% | 0.3% | 0.2% | 0.8% | 1.8% | 1.9% | 0.7% | — |
Computed from OPEN's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
OPEN valuation and financial ratios
Opendoor Technologies earned a return on equity of −151.3% and a return on invested capital of −17.5% in fiscal 2025. It ended the year with $193.0 million of debt and $962.0 million in cash and short-term investments, a net cash position of $769.0 million.
See the OPEN income statement, the OPEN chart for price history, or the OPEN stock overview for the latest quote and news.
OPEN key metrics FAQ
What is Opendoor Technologies's return on equity?
Opendoor Technologies's return on equity (ROE) was −151.3% in fiscal 2025: net income of -$1.3 billion on average shareholders' equity of $859.0 million.
What is Opendoor Technologies's ROIC?
Opendoor Technologies's return on invested capital was −17.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Opendoor Technologies have?
Opendoor Technologies had total debt of $193.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.19 and more cash than debt.
What is Opendoor Technologies's free cash flow yield?
Opendoor Technologies generated $1.0 billion of free cash flow in fiscal 2025, a free cash flow yield of 23.2% on its market value at year-end ($4.5 billion).
What is Opendoor Technologies's current ratio?
Opendoor Technologies's current ratio was 7.03 at the end of fiscal 2025: current assets were 7.03 times current liabilities.