A Business at a Glance
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PART I Our Mission We are a real estate solutions company focused on giving homeowners more control, flexibility, and choice when buying and selling a home. Who We Are Founded in 2015, we combine proprietary technology with local real estate expertise to simplify the home sale process and reduce friction across the transaction lifecycle, helping customers move forward with speed, transparency, and confidence. We provide cash offers, brokerage services, access to additional cash buyers through marketplace-enabled capabilities, and renovation services that support both internal transactions and third-party partners. We provide these real estate services through the following solutions: •Cash Offer, in which customers can access our website or mobile application to receive a competitive cash offer for their home within 24 hours and quickly close without the major inconveniences associated with traditional real estate selling.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 568M | 568M | 919M | 1.3B | 4.0B | 2.1B |
| Net Income | -46M | -46M | -62M | -117M | -149M | 6.5M |
| EPS | $-1.50 | $-1.50 | $-2.27 | $-4.44 | $-9.09 | $0.75 |
| Free Cash Flow | 66M | 66M | 15M | 262M | 304M | -936M |
| ROIC | -100.2% | -87.7% | -23.2% | -46.6% | -18.9% | 2.5% |
| Gross Margin | 7.4% | 7.4% | 7.9% | 5.3% | 4.6% | 10.0% |
| Debt/Equity | 0.38 | 0.38 | 4.10 | 2.23 | 4.97 | 3.35 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -33M | -33M | -46M | -104M | -127M | 20M |
| Operating Margin | -5.9% | -5.9% | -5.0% | -7.9% | -3.2% | 1.0% |
| ROE | -121.4% | -108.0% | -130.4% | -115.2% | -121.9% | 2.5% |
| Shares Outstanding | 31M | 31M | 27M | 26M | 16M | 9M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 1.1B | 2.1B | 4.0B | 1.3B | 919M | 568M | 568M |
| Gross Margin | 8.2% | 10.0% | 4.6% | 5.3% | 7.9% | 7.4% | 7.4% |
| R&D | 7.3M | 11M | 12M | 7.9M | 4.5M | 3.4M | 3.4M |
| SG&A | 17M | 30M | 59M | 50M | 41M | 26M | 26M |
| EBIT | -14M | 20M | -127M | -104M | -46M | -33M | -33M |
| Op. Margin | -1.3% | 1.0% | -3.2% | -7.9% | -5.0% | -5.9% | -5.9% |
| Net Income | -23M | 6.5M | -149M | -117M | -62M | -46M | -46M |
| Net Margin | -2.2% | 0.3% | -3.8% | -8.9% | -6.8% | -8.2% | -8.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | -5.8% | 2.5% | -18.9% | -46.6% | -23.2% | -87.7% | -100.2% |
| ROE | N/A | 2.5% | -121.9% | -115.2% | -130.4% | -108.0% | -121.4% |
| ROA | -9.8% | 0.5% | -18.0% | -30.9% | -19.9% | -19.8% | -30.0% |
| Cash Flow | |||||||
| Op. Cash Flow | 155M | -922M | 305M | 262M | 21M | 67M | 67M |
| Free Cash Flow | 152M | -936M | 304M | 262M | 15M | 66M | 66M |
| Owner Earnings | 153M | -926M | 296M | 253M | 12M | 63M | 63M |
| CapEx | 2.9M | 14M | 1.1M | 127K | 5.4M | 1.1M | 1.1M |
| Maint. CapEx | 434K | 523K | 1.0M | 728K | 611K | 979K | 979K |
| Growth CapEx | 2.4M | 13M | 48K | 0 | 4.8M | 100K | 100K |
| D&A | 434K | 523K | 1.0M | 728K | 611K | 979K | 979K |
| CapEx/OCF | 1.8% | N/A | 0.4% | 0.0% | 26.0% | 1.6% | 1.6% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.4M | 3.1M | 8.3M | 7.9M | 8.1M | 2.8M | 2.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 236K | 693K | 693K |
| Balance Sheet | |||||||
| Net Debt | -38M | 522M | 411M | 75M | 109M | -38M | -12M |
| Cash & Equiv. | 44M | 170M | 97M | 76M | 43M | 27M | 27M |
| Long-Term Debt | N/A | N/A | N/A | N/A | 0 | 15M | 15M |
| Debt/Equity | -0.35 | 3.35 | 4.97 | 2.23 | 4.10 | 0.38 | 0.38 |
| Interest Coverage | -1.4 | 1.2 | -2.8 | -5.5 | -2.5 | -2.5 | -2.5 |
| Equity | -143M | 258M | 122M | 102M | 48M | 38M | 38M |
| Total Assets | 236M | 1.4B | 825M | 380M | 313M | 155M | 155M |
| Total Liabilities | 195M | 1.1B | 703M | 278M | 265M | 117M | 117M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -139M | -132M | -281M | -398M | -460M | -506M | -506M |
| Working Capital | 37M | 275M | 115M | 96M | 43M | 43M | 43M |
| Current Assets | 227M | 1.3B | 814M | 372M | 294M | 132M | 132M |
| Current Liabilities | 190M | 1.1B | 699M | 276M | 251M | 89M | 89M |
| Per Share Data | |||||||
| EPS | -6.00 | 0.75 | -9.09 | -4.44 | -2.27 | -1.50 | -1.50 |
| Owner EPS | 9.60 | -107.45 | 18.11 | 9.58 | 0.44 | 2.04 | 2.04 |
| Book Value | -8.99 | 29.90 | 7.45 | 3.86 | 1.74 | 1.24 | 1.24 |
| Cash Flow/Share | 9.71 | -107.03 | 18.68 | 9.91 | 0.76 | 2.16 | -1.47 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 15.9M | 8.6M | 16.3M | 26.4M | 27.4M | 30.9M | 30.9M |
| Valuation | |||||||
| P/E Ratio | N/A | 144.6 | N/A | N/A | N/A | N/A | -0.5 |
| P/FCF | 17.4 | N/A | 0.3 | 1.1 | 5.8 | 0.6 | 0.4 |
| EV/EBIT | N/A | 73.7 | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.6 | 0.9 | 2.7 | 1.9 | 1.0 | 0.6 |
| Price/Sales | 2.4 | 0.6 | 0.2 | 0.2 | 0.2 | 0.1 | 0.0 |
| FCF Yield | 5.8% | -100.2% | 288.6% | 94.1% | 17.2% | 166.1% | 269.8% |
| Market Cap | 2.6B | 934M | 105M | 278M | 90M | 40M | 24M |
| Avg. Price | 160.16 | 146.07 | 44.35 | 9.62 | 5.64 | 2.09 | 0.79 |
| Year-End Price | 165.75 | 108.45 | 6.45 | 10.53 | 3.28 | 1.28 | 0.79 |
Offerpad Solutions Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 0.6x vs a median of 1.1x. The company's 5-year average gross margin is 7.1%. At current prices, the estimated annualized return to fair value is -39.7%.
Offerpad Solutions Inc. (OPAD) has a 5-year average return on invested capital (ROIC) of -34.8%. This is below average and may indicate limited pricing power.
Offerpad Solutions Inc. (OPAD) has a market capitalization of $24M. It is classified as a small-cap stock.
Offerpad Solutions Inc. (OPAD) does not currently pay a regular dividend.
Offerpad Solutions Inc. (OPAD) operates in the Real Estate Agents & Managers (For Others) industry, within the Real Estate sector.
Offerpad Solutions Inc. (OPAD) reported annual revenue of $568 million in its most recent fiscal year, based on SEC EDGAR filings.
Offerpad Solutions Inc. (OPAD) has a net profit margin of -8.2%. The company is currently unprofitable.
Offerpad Solutions Inc. (OPAD) generated $66 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Offerpad Solutions Inc. (OPAD) has a debt-to-equity ratio of 0.38. This indicates a conservatively financed balance sheet.
Offerpad Solutions Inc. (OPAD) reported earnings per share (EPS) of $-1.50 in its most recent fiscal year.
Offerpad Solutions Inc. (OPAD) has a return on equity (ROE) of -108.0%. A negative ROE may indicate losses or negative equity.
Offerpad Solutions Inc. (OPAD) has a 5-year average gross margin of 7.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 6 years of financial data for Offerpad Solutions Inc. (OPAD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Offerpad Solutions Inc. (OPAD) has a book value per share of $1.24, based on its most recent annual SEC filing.