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iBuyer that purchases homes directly from sellers using algorithmic pricing, then renovates and resells them.
iBuyer that purchases homes directly from sellers using algorithmic pricing, then renovates and resells them.
Buys a home from a seller and resells it, earning the gap between purchase and sale price after a seller fee, renovation and holding costs, so it carries housing-price risk while it owns each home. It borrows against its inventory, and in 2022 falling prices produced large writedowns.
Moat: none (data, scale). Pricing-algorithm and data scale help, but thin margins and housing-cycle risk have proven the model fragile.
Headquarters: Tempe, Arizona, US · Founded: 2014 · Employees: 1,042
Size Opendoor Technologies (OPEN) is a United States Real Estate company (Real Estate Development) with a market value of $1.36B, the 2058th largest of 3,117 United States companies the cockpit tracks. Shares closed at $1.40 on 6 Nov 2026.
Performance Over six months the shares fell 72.1%, against -16.2% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 37.2% over the last twelve months (peer median +3.3%); the operating margin is -15.7% (peer median 16.4%).
Valuation It trades at 1.48× book value against a peer median of 0.98× (8th most expensive of 21).
Price implies The share price implies a return on equity of about 28.0%; Opendoor Technologies delivers -196.9%, so the price asks more than the business earns today.
Short interest Short interest is 23.3% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.25B | $4.37B | $5.15B | $6.95B | $15.6B |
| Revenue growth | — | -15% | -26% | -55% | — |
| Gross profit | $281M | $350M | $433M | $487M | $667M |
| EBITDA | -$472M | -$227M | -$243M | -$290M | -$761M |
| Net income | -$1.52B | -$1.30B | -$392M | -$275M | -$1.35B |
| Free cash flow | -$474M | $1.04B | -$620M | $2.31B | $693M |
| Capital expenditure | $15.0M | $12.0M | $25.0M | $37.0M | $37.0M |
| Total debt | $1.96B | $1.32B | $2.32B | $2.53B | $5.40B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Opendoor Technologies OPEN | $1.36B | -72% | -37% | -197% | 1.48× | 28.0% |
| Zillow Z | $6.66B | -29% | +18% | 1% | 1.54× | 21.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | OPEN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -38.9% | -3.0% | lowest of 21 |
| 6-month return | -72.1% | -16.2% | lowest of 20 |
| Return on equity | -196.9% | 5.9% | lowest of 21 |
| Price / book | 1.48× | 0.98× | 8th most expensive of 21 |
| ROE the price implies | 28.0% | 6.3% | 5th most demanding of 19 |
| ROE delivered | -196.9% | 5.9% | lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Opendoor Technologies OPEN | United States | $1.36B | -72% | -37% | -197% | 1.48× | 28.0% | -196.9% |
| China Merchants Property Operation & Service 001914.SZ | China | $1.36B | -16% | +6% | 6% | 0.81× | 7.2% | 5.9% |
| Seazen 1030.HK | Hong Kong | $1.36B | -36% | -35% | 1% | 0.19× | 6.3% | 0.7% |
| Starts 8850.T | Japan | $1.35B | -6% | +7% | 14% | 1.12× | 5.7% | 14.0% |
| Zug Estates ZUGN.SW | Switzerland | $1.37B | -2% | +1% | 6% | 1.01× | n/a | 5.9% |
| Shanghai Jinqiao Export Processing Zone Development 600639.SS | China | $1.37B | -10% | +203% | 6% | 0.70× | 2.9% | 6.3% |
| Evergrande Property Services 6666.HK | Hong Kong | $1.37B | -34% | +9% | 64% | 4.37× | 33.7% | 64.3% |
| Shanghai Chengtou 600649.SS | China | $1.38B | -14% | -53% | -1% | 0.44× | 4.7% | -0.8% |
| Grandjoy 000031.SZ | China | $1.38B | -30% | -25% | -30% | 0.96× | 9.7% | -29.6% |
| Cham Swiss Properties CHAM.SW | Switzerland | $1.38B | -5% | -78% | 1% | 1.09× | n/a | 1.0% |
| Horizon Industrial Parks HORIZONIND.NS | India | $1.33B | n/a | +83% | -5% | 1.54× | 22.0% | n/a |
| Gmp Property SOCIMI YGMP.MC | Spain | $1.33B | -4% | 0% | 10% | 0.68× | 4.8% | n/a |
| Icade ICAD.PA | France | $1.33B | -22% | -9% | -5% | 0.33× | 5.4% | -5.0% |
| Deutsche EuroShop DEQ.DE | Germany | $1.40B | -16% | +2% | 12% | 0.66× | 4.0% | 11.9% |
| Sakura Development 2539.TW | Taiwan | $1.31B | -28% | +10% | 28% | 2.17× | 6.3% | 28.1% |
| China Overseas Property 2669.HK | Hong Kong | $1.41B | -17% | +11% | 22% | 1.53× | 16.9% | 21.8% |
| Wedge Industrial 000534.SZ | China | $1.30B | -57% | +4% | 10% | 4.54× | 40.7% | 9.8% |
| China Overseas Grand Oceans 0081.HK | Hong Kong | $1.30B | -7% | -3% | 1% | 0.28× | 5.8% | 1.1% |
| Grand City Properties GYC.DE | Germany | $1.42B | -19% | +2% | 10% | 0.33× | 4.5% | 9.9% |
| Sobha SOBHA.NS | India | $1.44B | -12% | +10% | 4% | 2.88× | 42.0% | 4.1% |
| Art 0565.HK | Hong Kong | $1.28B | +38% | +51% | -66% | 532.05× | 1,228.3% | -65.6% |