Latest Ratios: P/E Ratio 8.1x · EV/EBITDA 4.2x · ROE 16.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $826M | $720M | $481M | $534M | $630M | $415M | $381M | $359M | $366M | $249M |
| Enterprise Value | $1.7B | $1.4B | $1.4B | $1.0B | $1.1B | $1.1B | $1.0B | $914M | $1.0B | $1.3B | $910M |
| P/E Ratio → | 8.06 | 5.54 | 10.06 | 15.95 | 16.47 | 3.96 | 3.38 | 7.19 | 12.46 | 16.05 | — |
| P/S Ratio | 0.68 | 0.50 | 0.50 | 0.39 | 0.48 | 0.45 | 0.35 | 0.37 | 0.37 | 0.40 | 0.29 |
| P/B Ratio | 1.20 | 0.83 | 0.85 | 0.61 | 0.65 | 0.66 | 0.61 | 0.64 | 0.31 | 0.70 | 0.48 |
| P/FCF | 6.08 | 4.50 | — | — | 11.08 | 2.87 | — | 5.51 | 2.25 | — | — |
| P/OCF | 5.91 | 4.37 | — | — | 8.28 | 2.77 | — | 4.81 | 2.13 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.86 | 0.96 | 0.84 | 0.95 | 0.76 | 0.87 | 0.88 | 1.04 | 1.39 | 1.06 |
| EV / EBITDA | 4.21 | 3.49 | 4.02 | 3.25 | 4.51 | 2.79 | 3.56 | 3.76 | 5.02 | 7.65 | 7.29 |
| EV / EBIT | 4.64 | 5.10 | 7.09 | 9.07 | 15.19 | 4.51 | 5.65 | 7.58 | 10.96 | 26.69 | — |
| EV / FCF | — | 7.71 | — | — | 21.89 | 4.81 | — | 13.22 | 6.27 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 51.1% | 51.1% | 32.7% | 35.4% | 31.0% | 34.8% | 33.8% | 34.2% | 34.2% | 32.0% | 28.9% |
| Operating Margin | 22.4% | 22.4% | 21.3% | 22.8% | 17.9% | 24.7% | 21.7% | 20.3% | 20.1% | 17.5% | 13.6% |
| Net Profit Margin | 9.1% | 9.1% | 5.0% | 2.4% | 2.9% | 11.4% | 10.3% | 5.1% | 3.0% | 2.5% | -0.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.1% | 16.1% | 8.7% | 3.7% | 3.6% | 19.4% | 19.2% | 6.0% | 3.4% | 4.4% | -0.2% |
| ROA | 4.2% | 4.2% | 2.3% | 1.1% | 1.1% | 5.5% | 4.7% | 2.3% | 1.2% | 1.0% | -0.0% |
| ROIC | 17.4% | 17.4% | 15.7% | 15.0% | 9.8% | 17.5% | 15.3% | 10.1% | 8.5% | 8.9% | 6.4% |
| ROCE | 12.0% | 12.0% | 11.5% | 13.3% | 9.4% | 15.4% | 13.2% | 12.1% | 10.9% | 9.2% | 6.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.63 | 0.63 | 0.81 | 0.75 | 0.77 | 0.67 | 0.97 | 1.03 | 0.63 | 1.83 | 1.42 |
| Debt / EBITDA | 1.55 | 1.55 | 2.01 | 1.85 | 2.71 | 1.69 | 2.26 | 2.52 | 3.67 | 5.75 | 5.82 |
| Net Debt / Equity | — | 0.59 | 0.77 | 0.72 | 0.63 | 0.45 | 0.92 | 0.90 | 0.55 | 1.74 | 1.29 |
| Net Debt / EBITDA | 1.46 | 1.46 | 1.91 | 1.76 | 2.23 | 1.13 | 2.14 | 2.20 | 3.22 | 5.46 | 5.30 |
| Debt / FCF | — | 3.21 | — | — | 10.81 | 1.95 | — | 7.71 | 4.02 | — | — |
| Interest Coverage | 3.13 | 3.13 | 2.20 | 1.68 | 2.91 | 23.79 | 11.78 | 2.64 | 1.97 | 1.69 | -0.13 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.99 | 5.99 | 6.12 | 4.18 | 2.35 | 2.92 | 2.61 | 1.71 | 1.69 | 1.88 | 1.68 |
| Quick Ratio | 5.99 | 5.99 | 6.12 | 4.18 | 2.35 | 2.92 | 2.61 | 1.71 | 1.69 | 1.88 | 1.68 |
| Cash Ratio | 0.08 | 0.08 | 0.07 | 0.05 | 0.14 | 0.29 | 0.06 | 0.12 | 0.16 | 0.09 | 0.10 |
| Asset Turnover | — | 0.44 | 0.42 | 0.43 | 0.41 | 0.46 | 0.44 | 0.42 | 0.43 | 0.38 | 0.38 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.9% | 1.0% | 1.3% | 1.3% | 3.1% | 4.5% | 1.6% | 1.6% | 1.6% | 2.4% |
| Payout Ratio | 5.1% | 5.1% | 9.6% | 21.4% | 21.8% | 12.2% | 15.1% | 11.2% | 20.2% | 25.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 12.4% | 18.0% | 9.9% | 6.3% | 6.1% | 25.2% | 29.6% | 13.9% | 8.0% | 6.2% | — |
| FCF Yield | 16.5% | 22.2% | — | — | 9.0% | 34.9% | — | 18.2% | 44.4% | — | — |
| Buyback Yield | 0.3% | 0.4% | 1.3% | 7.3% | 11.4% | 1.2% | 3.6% | 2.2% | 1.6% | 2.0% | 1.6% |
| Total Shareholder Yield | 0.9% | 1.3% | 2.3% | 8.6% | 12.7% | 4.3% | 8.1% | 3.8% | 3.3% | 3.6% | 3.9% |
| Shares Outstanding | — | $11M | $11M | $12M | $13M | $14M | $13M | $14M | $14M | $14M | $13M |
Working capital liquidity volatility
According to current market data, Oppenheimer trades at a P/E of 8.06 and an EV/EBITDA of 4.21, suggesting that investors are applying a significant discount compared to peers like Stifel Financial, likely due to concerns regarding the firm's earnings volatility and its sensitivity to capital markets cycles.
The low valuation multiples appear to reflect a market skepticism toward the firm's ability to sustain profitability during market downturns. While the P/S ratio of 0.68 might suggest an attractive entry point, the forward P/E of 126.65 indicates that analysts anticipate a sharp contraction in near-term earnings, warranting caution regarding the sustainability of current valuation levels.
Based on reported financial figures, Oppenheimer's ROIC has struggled to maintain positive momentum, dropping to -0.3% in 2026Q1 from a peak of 5.8% in 2025Q4, which indicates that the firm is currently failing to generate adequate returns on its invested capital relative to its cost of funding.
The erratic trend in ROIC suggests that the firm's profitability is highly dependent on favorable market conditions rather than structural efficiency. Investors should monitor whether management can stabilize these returns, as the current decay in capital productivity may indicate an inability to effectively deploy resources during periods of market stress.
As reported in recent quarterly filings, Oppenheimer's asset turnover remains consistently low at approximately 0.11, while DSO figures exceeding 300 days suggest that the firm's working capital efficiency is heavily burdened by the settlement cycles inherent in its institutional brokerage and capital markets business model.
The extended DSO metrics imply that the firm's cash conversion cycle is highly sensitive to the timing of institutional trade settlements, which can mask underlying operational efficiency. This reliance on long-dated receivables warrants further investigation, as it creates a structural dependency on liquidity that may not be fully captured by standard turnover ratios.
According to the latest balance sheet data, Oppenheimer's debt-to-equity ratio surged to 1.47 in 2026Q1 from 0.63 in 2025Q4, signaling that the firm is rapidly increasing its reliance on debt to manage liquidity needs during periods of market-driven revenue contraction.
While the firm has historically maintained a conservative capital structure, the recent spike in leverage suggests that its liquidity buffers may be insufficient to handle extreme working capital swings. Investors should monitor the interest coverage ratio, which fell to -0.44 in 2026Q1, as this indicates a potential risk to debt serviceability if current market conditions persist.
The P/B ratio is frequently misapplied to Oppenheimer, as it fails to account for the massive, volatile working capital requirements that dominate the firm's balance sheet, often leading to a distorted view of the company's true book value and its underlying financial health.
Analysts should prioritize cash flow-based metrics and liquidity coverage over P/B, as the latter ignores the significant impact of client-related payables and receivables on the firm's equity base. Relying on book value in this context may obscure the firm's vulnerability to sudden liquidity shocks, which are more accurately reflected in the cash conversion cycle and current ratio trends.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying OPY stock.
Oppenheimer Holdings Inc.'s current P/E ratio is 8.1x. The historical average is 18.4x. This places it at the 30th percentile of its historical range.
Oppenheimer Holdings Inc.'s current EV/EBITDA is 4.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.3x.
Oppenheimer Holdings Inc.'s return on equity (ROE) is 16.1%. The historical average is 8.5%.
Based on historical data, Oppenheimer Holdings Inc. is trading at a P/E of 8.1x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Oppenheimer Holdings Inc.'s current dividend yield is 0.63% with a payout ratio of 5.1%.
Oppenheimer Holdings Inc. has 51.1% gross margin and 22.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Oppenheimer Holdings Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.