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Opendoor Technologies (OPEN) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NasdaqGS•Real Estate•Real Estate Services
D
WeakMetricSide Score: 32/100
ProfitabilityProfit0/30
GrowthGrowth7/25
Balance SheetBalance23/25
Cash QualityCash2/20
Price & Volume
Market Cap $4.70B

Opendoor Technologies Inc. operates a digital platform for residential real estate transactions in the United States. It buys and sells homes through online e-commerce platform. The company also resells the home to a home buyer. In addition, it offers real estate brokerage, title insurance and settlement, and escrow services, as well as property and casualty insurance, real estate licenses, and construction services. The company was formerly known as Social Capital Hedosophia Holdings Corp. II and changed its name to Opendoor Technologies Inc. Opendoor Technologies Inc. was incorporated in 2013 and is based in Tempe, Arizona.

Moat Signals

Competitive analysis based on 25 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging -9.2%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Cash Generation

Weak Moat

Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 25 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Watch

Debt-to-equity has risen 29.3% recently — increasing financial risk even if the current ratio is manageable.

Revenue Decline

Watch

Revenue has softened, declining in 4 quarters. Monitor for further erosion.

Cash Burn

Watch

4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.

Share Dilution

Red Flag

Shares outstanding increased 38.3% — significant dilution, likely from stock compensation or capital raises.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$3.94B
23.2%
Q. Revenue
$720.00M
TTM EBITDA
$-361.00M
40.5%
TTM Op. Income
$-390.00M
34.9%
Q. Op. Income
$-159.00M
TTM Net Income
$-1.39B
277.2%
Q. Net Income
$-173.00M
EPS
$-0.18
Shares Out.
$959.33M
32.6%
$3.94B in TTM revenue declined 23.2% YoY, reaching $720.00M last quarter. TTM EBITDA of $-361.00M and TTM operating income of $-390.00M shows growth is flowing through. However, net income is negative at $1.39B — growth is not yet reaching the bottom line. Revenue is contracting — assess whether this is cyclical or structural.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
10.0%
16.5%
EBITDA Margin
-21.3%
Op. Margin
-22.1%
354.7%
Net Margin
-24.0%
225.9%
Op. margin of -22.1% is down 17.2% YoY — costs are rising relative to revenue. Net margin at -24.0% and gross margin of 10.0% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
1.2x
P/B Ratio
4.9x
P/S of 1.2x and P/B of 4.9x. A low P/S may indicate the stock is undervalued.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$2.35B
Cash
$999.00M
Long-Term Debt
$723.00M
Book Value
$954.00M
D/E Ratio
0.8
Debt/EBITDA
N/A
With $2.35B in assets and $723.00M in long-term debt, the D/E of 0.8and book value of $954.00M — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-246.00M
Free Cash Flow
$-250.00M
11.7%
FCF Margin
-6.3%
FCF / Net Income
1.4
FCF of $-250.00M on $-246.00M in operating cash flow. The FCF / Net Income ratio of 0.2x indicates partial cash conversion — earnings quality needs attention.

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