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Fundamentals snapshot

Oppenheimer Holdings Inc.

OPY · NYQ · Financial Services · Capital Markets

Current price

$92.50

52-week range

$63.81 - $125.88

Market cap

$990.79M

One-glance verdict

Valued differently

We value banks a different way

We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.

Balance sheet

Healthy

4.90x Stretched

Net cash $175.35M. Interest coverage shows how many times profit covers the interest bill.

What this company does

Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. is like a financial helper for businesses and wealthy individuals, offering everything from stock trading to advice on big deals like buying or selling companies. Their main income comes from the fees they charge for these services, which matters because it shows how busy they are helping clients manage their money and investments.

Price history

How the share price has moved

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Earnings history

Last 8 quarters — what happened

Click any quarter to read the call summary and what the numbers say.

Free cash flow by quarter (oldest to newest)
FY2024 Q4 $71.45M FY2025 Q1 $-93.42M FY2025 Q2 $38.94M FY2025 Q3 $62.22M FY2025 Q4 $175.82M FY2026 Q1 $-189.98M FY2026 Q2 $-57.05M FY2026 Q3 $128.60M
Revenue $382.00M
Net income $5.46M
Diluted EPS 0.47
Operating cash flow $132.35M
Free cash flow $128.60M
Revenue $454.88M
Net income $27.35M
Diluted EPS 2.38
Operating cash flow $-55.02M
Free cash flow $-57.05M
Revenue $445.10M
Net income $-20.58M
Diluted EPS -1.93
Operating cash flow $-189.98M
Free cash flow $-189.98M
Revenue $472.63M
Net income $74.36M
Diluted EPS 6.51
Operating cash flow $177.00M
Free cash flow $175.82M
Revenue $424.44M
Net income $21.71M
Diluted EPS 1.90
Operating cash flow $63.42M
Free cash flow $62.22M
Revenue $373.18M
Net income $21.67M
Diluted EPS 1.91
Operating cash flow $40.07M
Free cash flow $38.94M
Revenue $367.82M
Net income $30.66M
Diluted EPS 2.72
Operating cash flow $-91.74M
Free cash flow $-93.42M
Revenue $375.42M
Net income $10.73M
Diluted EPS 0.92
Operating cash flow $74.71M
Free cash flow $71.45M

Is it cheap or expensive?

We value banks and insurers a different way

For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.

Valued differently

We estimate the cash this business should generate over the next 10 years and beyond, then convert it to today's money for a fair value per share, in its trading currency. Cautious, middle and optimistic growth cases give a range. Not for banks/insurers.

Is it drowning in debt?

Healthy

Net cash $175.4M - more cash than debt. Interest coverage 4.9x.

Net debt $-175.35M
Interest coverage 4.90x

Oppenheimer Holdings Inc. is healthier than 0 of 1 peers on balance-sheet leverage.

Healthy
Worse cushion Baseline Better cushion
OPY BASELINE Oppenheimer Holdings Inc.

Total debt $1.39B Interest coverage 4.90x This is the baseline the peer rows are being compared against.

4.90x

What you should know

The case for and against OPY

3 Rewards 3 Risks

Rewards

  • Revenue grew 7.1% last year.
  • Free cash flow was positive in 5/10 years.
  • Dividend yield is 0.8% with 32-year payout history.

Risks

  • Forward P/E (36.1x) is higher than trailing (12.2x) - earnings are expected to drop.
  • Net debt grew 13.3% over 3 years.
  • Operating margin compressed from 17.9% to 11.7% over 3 years.

The numbers

All the key metrics, grouped by purpose

Tap any ? icon to learn what it means.

Valuation

How expensive the stock looks

P/E (TTM)
12.20x
Forward P/E
36.13x
P/B
1.00x
P/S
0.59x
EV/EBITDA
—
PEG ratio
—

Profitability

How much profit each dollar creates

Gross margin
91.7%
Operating margin
11.7%
Net margin
5.2%
ROE
8.9%
ROA
2.2%

Health

Liquidity and balance-sheet strength

Debt / equity
1.38x
Current ratio
1.27x
Quick ratio
1.18x
Total debt
$1.39B
Total cash
$1.56B

Growth

How the business has been compounding

Revenue TTM
$1.75B
Revenue 5Y CAGR
4.1%
EPS TTM
7.58
EPS 5Y CAGR
71.8%

Cash flow

How much cash the business throws off

Operating CF TTM
$64.35M
Free CF TTM
$183.56M
FCF margin
10.5%

Dividend

Shareholder payout

Yield
0.8%
Payout ratio
10.0%
Last ex-div date
2026-11-13