OPEN · Opendoor Technologies Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $4.37B | $5.15B | $6.95B | $15.57B | $8.02B | $2.58B |
| Cost of Revenue | $4.02B | $4.72B | $6.46B | $14.90B | $7.29B | $2.36B |
| Gross Profit | $350.00M | $433.00M | $487.00M | $667.00M | $730.00M | $219.80M |
| R&D | $79.00M | $141.00M | $167.00M | $169.00M | $134.00M | $58.17M |
| SG&A | $238.00M | $182.00M | $206.00M | $346.00M | $620.00M | $152.77M |
| Total Operating Expenses | $637.00M | $753.00M | $873.00M | $1.60B | $1.30B | $405.66M |
| D&A | $31.00M | $33.00M | $38.00M | $37.00M | $27.00M | $21.70M |
| Operating Income | ($287.00M) | ($320.00M) | ($386.00M) | ($931.00M) | ($568.00M) | ($185.87M) |
| Interest Expense | $131.00M | $133.00M | $211.00M | $385.00M | $143.00M | $67.81M |
| Income Tax | $0 | $1.00M | $1.00M | $2.00M | $1.00M | $63.0K |
| Net Income | ($1.30B) | ($392.00M) | ($275.00M) | ($1.35B) | ($662.00M) | ($286.76M) |
| EPS - Basic | ($1.70) | ($0.56) | ($0.42) | ($2.16) | ($1.12) | ($2.62) |
| EPS - Diluted | ($1.70) | ($0.56) | ($0.42) | ($2.16) | ($1.12) | ($2.62) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $962.00M | $671.00M | $999.00M | $1.14B | $1.73B | $262.37M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $0 | $9.00M | $2.00M | $5.00M | $3.00M | $6.45M |
| Current Assets | $2.30B | $3.00B | $3.44B | $6.47B | $9.34B | $2.05B |
| Total Assets | $2.41B | $3.13B | $3.57B | $6.61B | $9.51B | $2.18B |
| Current Liabilities | $327.00M | $529.00M | $70.00M | $1.50B | $4.40B | $393.39M |
| Long-term Debt | - | - | - | - | - | $135.47M |
| Total Liabilities | $1.40B | $2.41B | $2.60B | $5.52B | $7.26B | $575.58M |
| Stockholders' Equity | $1.00B | $713.00M | $967.00M | $1.09B | $2.25B | ($733.10M) |
| Retained Earnings | ($5.03B) | ($3.73B) | ($3.33B) | ($3.06B) | ($1.71B) | ($1.08B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.05B | ($595.00M) | $2.34B | $730.00M | ($5.79B) | $681.91M |
| Investing Cash Flow | ($12.00M) | $28.00M | $44.00M | $234.00M | ($476.00M) | ($21.87M) |
| Financing Cash Flow | ($499.00M) | ($210.00M) | ($2.64B) | ($1.75B) | $7.34B | $160.66M |
| CapEx | $12.00M | $25.00M | $37.00M | $37.00M | $33.00M | $17.34M |
| Free Cash Flow | $1.04B | ($620.00M) | $2.31B | $693.00M | ($5.83B) | $664.57M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 8.0% | 8.4% | 7.0% | 4.3% | 9.1% | 8.5% |
| Operating margin | -6.6% | -6.2% | -5.6% | -6.0% | -7.1% | -7.2% |
| EBITDA margin | -5.9% | -5.6% | -5.0% | -5.7% | -6.7% | -6.4% |
| Net margin | -29.7% | -7.6% | -4.0% | -8.7% | -8.3% | -11.1% |
| Free cash flow margin | 23.7% | -12.0% | 33.2% | 4.5% | -72.6% | 25.7% |
| FCF / Net income | -0.80 | 1.58 | -8.39 | -0.51 | 8.80 | -2.32 |
| R&D / Revenue | 1.8% | 2.7% | 2.4% | 1.1% | 1.7% | 2.3% |
| SG&A / Revenue | 5.4% | 3.5% | 3.0% | 2.2% | 7.7% | 5.9% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -54.0% | -12.5% | -7.7% | -20.5% | -7.0% | -13.2% |
| Return on equity | -129.4% | -55.0% | -28.4% | -124.6% | -29.4% | 39.1% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 7.03 | 5.67 | 49.21 | 4.30 | 2.12 | 5.22 |
| Quick ratio | 7.03 | 5.67 | 49.21 | 4.30 | 2.12 | 5.22 |
| Cash ratio | 2.94 | 1.27 | 14.27 | 0.76 | 0.39 | 0.67 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | -0.18 |
| Debt / Assets | - | - | - | - | - | 0.06 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -2.2x | -2.4x | -1.8x | -2.4x | -4.0x | -2.7x |
| Equity multiplier | 2.40 | 4.38 | 3.69 | 6.08 | 4.23 | -2.97 |
| Liabilities / Assets | 0.58 | 0.77 | 0.73 | 0.84 | 0.76 | 0.26 |
| Efficiency | ||||||
| Asset turnover | 1.82 | 1.65 | 1.95 | 2.36 | 0.84 | 1.19 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 0d | 1d | 0d | 0d | 0d | 1d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 4.4x | 1.6x | 3.0x | 0.7x | 3.9x | - |
| P / S | 1.0x | 0.2x | 0.4x | 0.0x | 1.1x | 1.0x |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -15.2% | -25.8% | -55.4% | 94.1% | 210.5% | - |
| Revenue CAGR (3y) | -34.5% | -13.7% | 39.1% | - | - | - |
| Revenue CAGR (5y) | 11.1% | - | - | - | - | - |
| Gross profit growth (YoY) | -19.2% | -11.1% | -27.0% | -8.6% | 232.1% | - |
| Operating income growth (YoY) | 10.3% | 17.1% | 58.5% | -63.9% | -205.6% | - |
| Net income growth (YoY) | -231.6% | -42.5% | 79.7% | -104.4% | -130.9% | - |
| EPS growth (YoY) | -203.6% | -33.3% | 80.6% | -92.9% | 57.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 232.9% | - | - | - |
| FCF CAGR (5y) | 9.3% | - | - | - | - | - |
| Book value growth (YoY) | 41.0% | -26.3% | -11.0% | -51.7% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$4.37B totalReportable Segment$4.37B · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.56
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Real Estate Agents & Managers (For Others)
Comparing Opendoor Technologies Inc. against the 5 most active filers in the same SIC group.