OPEN
Opendoor Technologies Inc.
There isn't enough reported data to score OPEN yet.
SAFE
Safehold Inc.
SAFE's fundamentals are mixed, but it looks cheap: trading at 6.1x earnings, below its usual 10x. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
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.
SAFE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
SAFE's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like SAFE.
OPEN PE Valuation
OPEN has no meaningful PE right now: it lost money over the past year.
SAFE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 6.1x | $9.85 | — |
| Forward | 6.1x | $9.85 | — |
| Cheap | 8.8x | $14.14 | +44% |
| Fair | 10x | $16.31 | +66% |
| Expensive | 12x | $19.72 | +100% |
Historical ranges are pointers, not guarantees.
SAFE's PE is in its cheap range at 6.1x. On analysts' estimates for next year's earnings, today's price would be 6.1x.
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.
SAFE Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect SAFE's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
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.
SAFE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.63 | +1.1% |
| Q3 2026 | $1.61 | +2.5% |
| Q2 2026 | $1.61 | +13% |
| Q1 2026 | $1.58 | +8.2% |
| Q4 2025 | $1.59 | +7.4% |
| Q3 2025 | $1.57 | -7.1% |
| Q2 2025 | $1.43 | +$1.82 |
| Q1 2025 | $1.46 | +$1.92 |
| Q4 2024 | $1.48 | +$2.30 |
SAFE 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% |
OPEN's revenue is recovering but still below its 2022 peak: $1B last quarter, up 12% from the same quarter a year ago.
| 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.
SAFE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $118.7M | +23% |
| Q2 2026 | $114.6M | +22% |
| Q1 2026 | $110.9M | +13% |
| Q4 2025 | $97.9M | +6.5% |
| Q3 2025 | $96.2M | +6% |
| Q2 2025 | $93.8M | +4.4% |
| Q1 2025 | $97.7M | +4.8% |
| Q4 2024 | $91.9M | -11% |
SAFE has the edge over OPEN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | -1.2 points |
| Q2 2026 | 25% | -0.8 points |
| Q1 2026 | 23% | -2.8 points |
| Q4 2025 | 27% | +2.8 points |
| Q3 2025 | 26% | +8.4 points |
| Q2 2025 | 25% | -1.2 points |
| Q1 2025 | 26% | -0.5 points |
| Q4 2024 | 25% | -9.2 points |
SAFE has the edge over OPEN on profitability, with a higher operating margin.
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.
SAFE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.5M | +$6.9M |
| Q2 2026 | $34.6M | +24% |
| Q1 2026 | -$8.6M | -197% |
| Q4 2025 | $12.3M | +56% |
| Q3 2025 | -$1.4M | -117% |
| Q2 2025 | $28M | +13% |
| Q1 2025 | $8.9M | +$12M |
| Q4 2024 | $7.9M | -66% |
SAFE 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 | — |
SAFE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -599K shares |
| 1 year | -1.2% | -861K shares |
| 3 years | +4.4% | +3M shares |
| 5 years | +329% | +54.4M shares |
| Available history | +432% | +57.6M shares |
SAFE has the edge over OPEN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.9M |
| Q2 2026 | $12.9M |
| Q1 2026 | $3.2M |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | $33.7M |
| Q3 2021 | $56.4M |
| Q2 2021 | $21.8M |
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.
SAFE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 40.6x | High |
| Q2 2026 | 40.9x | High |
| Q1 2026 | 42.8x | High |
| Q4 2025 | 41.7x | High |
| Q3 2025 | 42.6x | High |
| Q2 2025 | 45.7x | High |
| Q1 2025 | 44.4x | High |
| Q4 2024 | 44.4x | High |
SAFE's net debt is more than 20 years of its operating earnings (EBITDA), down from more than 20 years a year ago. Net leverage isn't a meaningful measure for real estate companies like SAFE.
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).
SAFE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 22.2 | Oversold |
| Stochastic | 5.3 | Oversold |
SAFE's weekly RSI is 22 (oversold) and its Stochastic is 5 (oversold).
OPEN PE vs Real Estate Sector
OPEN has no meaningful PE right now: it lost money over the past year.
SAFE PE vs Real Estate Sector
| Metric | SAFE | Sector median | Relative |
|---|---|---|---|
| PE | 6.1x | 24x | 74% below |
| PE % | 0 | 16 | 16 pts below |
SAFE is trading at 6.1x earnings, a 74% 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 |
SAFE has stronger trend alignment. OPEN is above 0 of 5 weekly averages versus SAFE above 0 of 4.
SAFE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.3 | 13% below |
| 20 week MA | $13.9 | 29% below |
| 50 week MA | $14.4 | 32% below |
| 100 week MA | $15.2 | 35% below |
SAFE is in a downtrend: it's below all four of its weekly moving averages, and 35% below its 100-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.
SAFE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $29.4 | $23.4 | -20% |
| 2024 | $23.4 | $18.6 | -20% |
| 2025 | $18.6 | $13.5 | -27% |
| 2026 YTD | $13.5 | $9.85 | -27% |
SAFE has the edge over OPEN on returns for 2026, with the stronger performance.