OPEN
Opendoor Technologies Inc.
There isn't enough reported data to score OPEN yet.
REFI
Chicago Atlantic Real Estate Finance, Inc.
REFI's fundamentals are mixed: revenue grew 63%, but its operating margin fell 13 points to 65%. At 7.3x earnings, it's trading in line with its usual 7.7x. Analysts expect earnings growth.
OPEN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
OPEN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for real estate companies like OPEN.
REFI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
REFI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like REFI.
OPEN PE Valuation
OPEN has no meaningful PE right now: it lost money over the past year.
REFI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.3x | $8.80 | — |
| Cheap | 7.2x | $8.69 | -1.2% |
| Current | 7.3x | $8.80 | — |
| Fair | 7.7x | $9.26 | +5.3% |
| Expensive | 8.1x | $9.74 | +11% |
Historical ranges are pointers, not guarantees.
REFI's PE is in its cheap range at 7.3x. If earnings grow as analysts expect, today's price would be 4.3x next year's earnings.
OPEN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect OPEN's losses to grow, with revenue growing. However, they disagree widely on these estimates.
REFI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| -- | |
| Limited | |
| High |
Analysts expect REFI's earnings to grow, with its revenue and profitability holding steady.
OPEN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.00 | -$1.56 |
| Q2 2026 | -$1.89 | -$1.46 |
| Q1 2026 | -$1.76 | -$1.24 |
| Q4 2025 | -$1.70 | -$1.14 |
| Q3 2025 | -$0.44 | +$0.09 |
| Q2 2025 | -$0.43 | +$0.15 |
| Q1 2025 | -$0.52 | -$0.10 |
| Q4 2024 | -$0.56 | -$0.14 |
OPEN lost $2.00 per share over the past year, and its loss has widened in each of the last five quarters.
REFI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.06 | +71% |
| Q3 2026 | $1.20 | -29% |
| Q2 2026 | $1.37 | -25% |
| Q1 2026 | $1.44 | -23% |
| Q4 2025 | $1.68 | -11% |
| Q3 2025 | $1.69 | -15% |
| Q2 2025 | $1.83 | -7.1% |
| Q1 2025 | $1.88 | -5.1% |
| Q4 2024 | $1.88 | -11% |
REFI has the edge over OPEN on earnings quality, reporting a profit while its opponent remains loss making.
OPEN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1B | +12% |
| Q2 2026 | $883M | -44% |
| Q1 2026 | $720M | -38% |
| Q4 2025 | $736M | -32% |
| Q3 2025 | $915M | -34% |
| Q2 2025 | $1.6B | +3.7% |
| Q1 2025 | $1.2B | -2.4% |
| Q4 2024 | $1.1B | +25% |
REFI has the stronger quarterly revenue trend. Revenue is up 12% for OPEN versus up 20% for REFI.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -18% | -11 points |
| Q2 2026 | -16% | -16 points |
| Q1 2026 | -22% | -17 points |
| Q4 2025 | -20% | -12 points |
| Q3 2025 | -7.4% | -2.6 points |
| Q2 2025 | -0.8% | +3.9 points |
| Q1 2025 | -4.9% | +2.5 points |
| Q4 2024 | -8.7% | +4.6 points |
OPEN's operating margin was −18% last quarter, down 11 points from the same quarter a year ago.
REFI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2023 | $13.7M | +20% |
| Q1 2023 | $14.9M | +52% |
| Q4 2022 | $14.8M | +60% |
| Q3 2022 | $12.9M | +214% |
| Q2 2022 | $11.4M | +902% |
REFI's revenue has grown year over year every quarter since mid-2022: $14M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2023 | 63% | -2.2 points |
| Q1 2023 | 72% | -7.6 points |
| Q4 2022 | 49% | -33 points |
| Q3 2022 | 76% | -24 points |
| Q2 2022 | 65% | +66 points |
| Q1 2022 | 79% | N/A |
| Q4 2021 | 82% | N/A |
| Q3 2021 | 99% | N/A |
REFI's operating margin was 63% last quarter, down 2.2 points from the same quarter a year ago.
OPEN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$836M | -294% |
| Q2 2026 | -$723M | -188% |
| Q1 2026 | -$250M | +$33M |
| Q4 2025 | $67M | +$150M |
| Q3 2025 | $432M | +671% |
| Q2 2025 | $821M | +$1.2B |
| Q1 2025 | -$283M | -$97M |
| Q4 2024 | -$83M | +$468M |
OPEN's free cash flow was −$1.7B over the past year, against $887M the year before. Free cash flow isn't a meaningful measure for real estate companies like OPEN.
REFI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $7.1M | -13% |
| Q2 2026 | $9.1M | +40% |
| Q1 2026 | $3.2M | -59% |
| Q4 2025 | $6.5M | +257% |
| Q3 2025 | $8.2M | -0.2% |
| Q2 2025 | $6.5M | +4.1% |
| Q1 2025 | $7.6M | +10% |
| Q4 2024 | $1.8M | -88% |
REFI has the edge over OPEN on cash generation, producing positive trailing cash flow while its opponent burns cash.
OPEN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.7% | -16.3M shares |
| 1 year | +30% | +220M shares |
| 3 years | +42% | +282M shares |
| 5 years | +61% | +361M shares |
| Available history | +1042% | +866M shares |
OPEN has 949M diluted shares, up 30% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
REFI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +18% | +3.9M shares |
| 1 year | +19% | +4.2M shares |
| 3 years | +38% | +7.1M shares |
| 5 years | +47% | +8.2M shares |
REFI has the edge over OPEN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
OPEN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 337.2x | High |
OPEN's net debt is more than 20 years of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for real estate companies like OPEN.
REFI Net Leverage
OPEN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 20.6 | Oversold |
| Stochastic | 1.2 | Oversold |
OPEN's weekly RSI is 21 (oversold) and its Stochastic is 1 (oversold).
REFI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 28.6 | Oversold |
| Stochastic | 6.2 | Oversold |
REFI's weekly RSI is 29 (oversold) and its Stochastic is 6 (oversold).
OPEN PE vs Real Estate Sector
OPEN has no meaningful PE right now: it lost money over the past year.
REFI PE vs Real Estate Sector
| Metric | REFI | Sector median | Relative |
|---|---|---|---|
| PE | 7.3x | 24x | 69% below |
| PE % | 19 | 27 | 8 pts below |
REFI is trading at 7.3x earnings, a 69% discount to the Real Estate sector's median of 24x.
OPEN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.97 | 37% below |
| 20 week MA | $3.00 | 59% below |
| 50 week MA | $4.37 | 72% below |
| 100 week MA | $3.74 | 67% below |
| 200 week MA | $3.13 | 60% below |
OPEN is in a downtrend: it's below all five of its weekly moving averages, and 60% below its 200-week average.
REFI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.41 | 6.5% below |
| 20 week MA | $10.1 | 13% below |
| 50 week MA | $11.3 | 22% below |
| 100 week MA | $12.8 | 31% below |
| 200 week MA | $14.1 | 37% below |
REFI is in a downtrend: it's below all five of its weekly moving averages, and 37% below its 200-week average.
OPEN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $27.4 | +150% |
| 2021 | $27.4 | $14.9 | -46% |
| 2022 | $14.9 | $1.02 | -93% |
| 2023 | $1.02 | $4.48 | +339% |
| 2024 | $4.48 | $1.67 | -63% |
| 2025 | $1.67 | $6.01 | +260% |
| 2026 YTD | $6.01 | $1.24 | -79% |
OPEN's yearly returns have swung widely, from +339% in 2023 to −93% in 2022. It's down 79% so far in 2026.
REFI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $16.3 | $16.0 | -1.4% |
| 2022 | $16.0 | $15.9 | -0.9% |
| 2023 | $15.9 | $16.2 | +1.9% |
| 2024 | $16.2 | $16.2 | 0% |
| 2025 | $16.2 | $13.1 | -19% |
| 2026 YTD | $13.1 | $8.80 | -33% |
REFI has the edge over OPEN on returns for 2026, with the stronger performance.