Using a Revenue DCF model with operating margin convergence from -6.3% to a target of 28.5% over 5 years, discounted at a WACC of 7.9%, Opendoor Technologies Inc. (OPEN) has an intrinsic value of $17.96 per share (range: $9.16 – $38.51).
Using a Revenue DCF model with operating margin convergence from -6.3% to a target of 28.5% over 5 years, discounted at a WACC of 7.9%, Opendoor Technologies Inc. (OPEN) has an intrinsic value of $29.13 per share (range: $14.79 – $63.98).
Using the industry peer median EV/Revenue multiple (trailing + forward), Opendoor Technologies Inc. (OPEN) has a fair value of $53.45 based on 8 comparable companies in the Real Estate - Services industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing EV/Revenue | Forward EV/Revenue | |
|---|---|---|---|
| Opendoor Technologies Inc.OPEN | 3,718 | 0.7x | 0.6x |
| Terreno Realty Corporation | 6,527 | 15.6x | 14.7x |
| Essential Properties Realty Trust, Inc. | 6,506 | 16.0x | 14.7x |
| FirstService Corporation | 6,500 | 1.4x | 1.5x |
| Brookfield Property Partners L.P. | 6,219 | 7.7x | 10.1x |
| Healthcare Realty Trust Incorporated | 6,032 | 8.6x | 8.7x |
| Ryman Hospitality Properties, Inc. | 5,916 | 3.8x | 4.1x |
| Rithm Capital Corp. | 5,359 | 7.6x | 9.9x |
| Howard Hughes Holdings Inc. | 3,820 | 5.1x | 4.6x |
| Industry Median | 7.7x | 9.3x | |
| (*) Revenue | 4,371 | 5,048 | |
| = Enterprise Value | 33,443 | 46,958 | |
| (-) Net Debt | -769 | -769 | |
| Equity Value | 34,212 | 47,727 | |
| (/) Outstanding shares | 767 | 767 | |
| Fair Price | $45 | $62 | |
Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.