Opendoor Technologies Inc. (OPENW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

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Levered DCF

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After debt service

Piotroski score

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Altman Z-score

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Rating

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Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2020	FY2019	FY2018
P/E	0×	0×	0×
P/B	0×	0×	0×
P/S	0×	0×	0×
EV / EBITDA	7.72×	-5.69×	0×
Gross margin	8.5%	6.4%	7.3%
Operating margin	-11.1%	-5.2%	-8.9%
Net margin	-11.1%	-7.2%	-13.1%
Current ratio	5.22×	1.85×	0×
Debt / equity	0.01×	-2.03×	0×
Interest coverage	-4.23×	-2.26×	-2.71×
Dividend yield	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2020	FY2019	FY2018
Return on equity	-17.9%	46.5%	0.0%
Return on invested capital	-16.0%	-11.4%	0.0%
Return on assets	-13.2%	-15.3%	0.0%
Free cash flow yield	0.0%	0.0%	0.0%
Earnings yield	0.0%	0.0%	0.0%
Enterprise value	-$1.4B	$1.1B	$0
Net debt / EBITDA	7.72×	-5.69×	0×
Cash conversion cycle (days)	68	107	0