Opendoor Technologies Inc. (OPEN) 10-Year Financial Performance & Capital Metrics

OPEN • • REIT / Real Estate

Real EstateReal Estate ServicesSpecialized Real Estate ServicesiBuying & Instant Offer Platforms

AboutOpendoor Technologies Inc. operates a digital platform for residential real estate in the United States. The company's platform enables consumers to buy and sell a home online. It also provides title insurance and escrow services. Opendoor Technologies Inc. was incorporated in 2013 and is based in Tempe, Arizona.Show more

Revenue $5.15B -25.8%
FFO -$339M -67.0%
FFO/Share -0.48 -56.9%
FFO Payout 0%
FFO per Share -0.48 -56.9%
NOI Margin 8.4% +19.8%
FFO Margin -6.58% -125.1%
ROE -46.67% -74.2%
ROA -11.71% -116.7%
Debt/Assets 74.12% +4.3%
Net Debt/EBITDA -
Book Value/Share 1.02 -30.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 11.2% TTM
✓Momentum leader: RS Rating 98 (top 2%)

✗Weaknesses

✗High debt to equity ratio of 3.2x
✗Weak Piotroski F-Score: 1/9
✗Low NOI margin of 8.4%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y1.68%

3Y-13.71%

TTM-4.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM14.32%

EPS CAGR

10Y-

5Y-

3Y-

TTM18.56%

ROCE

10Y Avg-16.37%

5Y Avg-13.42%

3Y Avg-12.57%

Latest-10.5%

Peer Comparison

iBuying & Instant Offer Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPADOfferpad Solutions Inc.	63.26M	1.34	-0.59	-30.1%	-8.74%	-137.73%	24.38%	5.30
OPENOpendoor Technologies Inc.	6.01B	6.30	-11.25	-25.81%	-6.72%	-39.09%		3.25

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.84B	4.74B	2.58B	8.02B	15.57B	6.95B	5.15B
Revenue Growth %	-	1.58%	-0.46%	2.11%	0.94%	-0.55%	-0.26%
Property Operating Expenses	1.7B	4.44B	2.36B	7.29B	14.9B	6.46B	4.72B
Net Operating Income (NOI)+	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-
Operating Expenses+	297.1M	549M	406M	1.3B	1.6B	873M	753M
G&A Expenses	268.64M	498M	348M	1.16B	1.35B	692M	595M
EBITDA+	-150.89M	-209M	-123M	-513M	-841M	-314M	-267M
EBITDA Margin %	-	-	-	-	-	-	-
Depreciation & Amortization+	12.78M	39M	63M	55M	90M	72M	53M
D&A / Revenue %	-	-	-	-	-	-	-
Operating Income+	-163.67M	-248M	-186M	-568M	-931M	-386M	-320M
Operating Margin %	-	-	-	-	-	-	-
Interest Expense+	60.46M	110M	67.81M	143M	385M	211M	133M
Interest Coverage	-2.71x	-2.25x	-2.74x	-3.97x	-2.42x	-1.83x	-2.41x
Non-Operating Income	15.42M	-19M	-1M	-4M	35M	-323M	-24M
Pretax Income+	-239.55M	-339M	-253M	-661M	-1.35B	-274M	-391M
Pretax Margin %	-	-	-	-	-	-	-
Income Tax+	377K	0	0	1M	2M	1M	1M
Effective Tax Rate %	-	-	-	-	-	-	-
Net Income+	-241.29M	-341M	-253M	-662M	-1.35B	-275M	-392M
Net Margin %	-	-	-	-	-	-	-
Net Income Growth %	-	-0.41%	0.26%	-1.62%	-1.04%	0.8%	-0.43%
Funds From Operations (FFO)+	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-
FFO Growth %	-	-0.32%	0.37%	-2.19%	-1.08%	0.84%	-0.67%
FFO per Share+	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-
EPS (Diluted)+	-0.46	-4.26	-2.31	-1.12	-2.16	-0.42	-0.56
EPS Growth %	-	-8.27%	0.46%	0.52%	-0.93%	0.81%	-0.33%
EPS (Basic)	-0.46	-4.26	-2.31	-1.12	-2.16	-0.42	-0.56
Diluted Shares Outstanding	544.42M	79.98M	109.3M	592.57M	627.11M	657.11M	699.46M

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.84B	2.23B	2.18B	9.51B	6.61B	3.57B	3.13B
Asset Growth %	-	0.21%	-0.02%	3.37%	-0.3%	-0.46%	-0.12%
Real Estate & Other Assets+	3M	5.39M	4M	7M	27M	22M	60M
PP&E (Net)	17.98M	95.29M	79M	87M	99M	91M	66M
Investment Securities	0	0	0	0	0	0	0
Total Current Assets+	1.81B	2.09B	2.05B	9.34B	6.47B	3.44B	3B
Cash & Equivalents	262.37M	405.08M	1.41B	1.73B	1.14B	999M	671M
Receivables	-1000K	0	0	0	0	0	1000K
Other Current Assets	175M	326.62M	126M	1.03B	725M	602M	153M
Intangible Assets	3.74M	12.41M	9M	12M	12M	5M	0
Total Liabilities	1.17B	2.96B	623M	7.26B	5.52B	2.6B	2.41B
Total Debt+	1.13B	1.5B	550M	7.11B	5.4B	2.53B	2.32B
Net Debt	870.73M	1.09B	-863M	5.38B	4.26B	1.53B	1.65B
Long-Term Debt	100.5M	362.02M	136M	2.82B	3.98B	2.51B	1.87B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	0	1000K
Capital Lease Obligations	0	61.91M	68M	46M	45M	24M	15M
Total Current Liabilities+	1.07B	1.13B	393M	4.4B	1.5B	70M	529M
Accounts Payable	6.24M	6.45M	3M	3M	5M	2M	9M
Deferred Revenue	0	0	0	0	0	0	0
Other Liabilities	5.08M	1.43B	47M	0	0	1M	1M
Total Equity+	668.52M	-733.1M	1.55B	2.25B	1.09B	967M	713M
Equity Growth %	-	-2.1%	3.12%	0.45%	-0.52%	-0.11%	-0.26%
Shareholders Equity	667.03M	-733.1M	1.55B	2.25B	1.09B	967M	713M
Minority Interest	1.49M	0	0	0	0	0	0
Common Stock	0	0	0	0	0	0	0
Additional Paid-in Capital	31.2M	57.36M	2.6B	3.96B	4.15B	4.3B	4.44B
Retained Earnings	-446.06M	-790.48M	-1.04B	-1.71B	-3.06B	-3.33B	-3.73B
Preferred Stock	1.08B	0	0	0	0	0	0
Return on Assets (ROA)	-0.13%	-0.17%	-0.11%	-0.11%	-0.17%	-0.05%	-0.12%
Return on Equity (ROE)	-0.36%	-	-0.62%	-0.35%	-0.81%	-0.27%	-0.47%
Debt / Assets	0.62%	0.67%	0.25%	0.75%	0.82%	0.71%	0.74%
Debt / Equity	1.69x	-	0.35x	3.16x	4.97x	2.62x	3.25x
Net Debt / EBITDA	-	-	-	-	-	-	-
Book Value per Share	1.23	-9.17	14.21	3.79	1.73	1.47	1.02

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.18B	-272.05M	682M	-5.79B	730M	2.34B	-595M
Operating CF Growth %	-	0.77%	3.51%	-9.5%	1.13%	2.21%	-1.25%
Operating CF / Revenue %	-	-	-	-	-	-	-
Net Income	-239.93M	-341.02M	-253M	-662M	-1.35B	-275M	-392M
Depreciation & Amortization	12.78M	39.31M	63M	55M	90M	72M	53M
Stock-Based Compensation	8.42M	0	0	0	0	0	0
Other Non-Cash Items	20.52M	41.13M	37M	537M	1.04B	-10M	173M
Working Capital Changes	-1B	-11.48M	835M	-5.72B	956M	2.56B	-429M
Cash from Investing+	-7.43M	-95.08M	-22M	-476M	234M	44M	28M
Acquisitions (Net)	-4.86M	-32.81M	0	-33M	-10M	0	-2M
Purchase of Investments	-22.93M	-79.32M	-175M	-501M	-53M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	0	0	0	0	0	0	0
Cash from Financing+	1.5B	646.18M	161M	7.34B	-1.75B	-2.64B	-210M
Dividends Paid	0	0	0	0	0	0	0
Common Dividends	0	0	0	0	0	0	0
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K
Share Repurchases	-37.78M	-3M	0	0	0	0	0
Other Financing	-3.46M	-3.28M	0	0	-10M	-4M	0
Net Change in Cash+	309.43M	684.82M	821.18M	1.07B	-787M	-251M	-777M
Exchange Rate Effect	0	1000K	178K	0	0	0	0
Cash at Beginning	96.35M	406M	684.82M	1.51B	2.58B	1.79B	1.54B
Cash at End	405.77M	684.82M	1.51B	2.58B	1.79B	1.54B	763M
Free Cash Flow+	-1.2B	-300.02M	665M	-5.83B	693M	2.31B	-620M
FCF Growth %	-	0.75%	3.22%	-9.76%	1.12%	2.33%	-1.27%
FCF / Revenue %	-	-	-	-	-	-	-

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
FFO per Share	-0.42	-3.78	-1.74	-1.02	-2.01	-0.31	-0.48
FFO Payout Ratio	0%	0%	0%	0%	0%	0%	0%
NOI Margin	7.26%	6.35%	8.52%	9.1%	4.28%	7.01%	8.4%
Debt / Assets	61.5%	67.13%	25.28%	74.78%	81.72%	71.04%	74.12%
Interest Coverage	-2.71x	-2.25x	-2.74x	-3.97x	-2.42x	-1.83x	-2.41x
Book Value / Share	1.23	-9.17	14.21	3.79	1.73	1.47	1.02
Revenue Growth	-	157.93%	-45.52%	210.53%	94.08%	-55.38%	-25.81%

Frequently Asked Questions

Growth & Financials

Opendoor Technologies Inc. (OPEN) reported $4.72B in revenue for fiscal year 2024. This represents a 157% increase from $1.84B in 2018.

Opendoor Technologies Inc. (OPEN) saw revenue decline by 25.8% over the past year.

Opendoor Technologies Inc. (OPEN) reported a net loss of $317.0M for fiscal year 2024.

Dividend & Returns

Opendoor Technologies Inc. (OPEN) has a return on equity (ROE) of -46.7%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Opendoor Technologies Inc. (OPEN) generated Funds From Operations (FFO) of $-277.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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