Oppenheimer Holdings (OPY) AI Stock Analysis

• Market Cap: $875.67M
• Dividend Yield: 0.99%
• Average Volume (3M): 42.55K
• Price to Earnings (P/E): 6.4
• Beta (1Y): 0.89
• Revenue Growth: 12.52%
• EPS Growth: 16.53%
• Country: US
• Employees: 2,974
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 6.51
• Shares Outstanding: 10,420,884
• 10 Day Avg. Volume: 57,808
• 30 Day Avg. Volume: 42,551
• PEG Ratio: 0.06
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 0.46
• P/FCF Ratio: -5.85
• Enterprise Value/Market Cap: 2.74
• Enterprise Value/Revenue: 1.55
• Enterprise Value/Gross Profit: 4.81
• Enterprise Value/Ebitda: 9.67
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $92.00 ▲(35.45% Upside)

The score is anchored by mixed fundamentals: solid profitability and reduced leverage are offset by negative operating/free cash flow and weak cash conversion. Valuation is a major positive (low P/E), while technicals show a strong uptrend but are tempered by near-overbought RSI. The special dividend adds a positive corporate signal but is secondary to the cash flow risk.

Positive Factors

Diversified business model across segments

A multi-pronged business model (investment banking, asset management, brokerage) provides structural revenue diversification, reducing reliance on any single market cycle. That mix supports fee income stability and cross-selling, helping sustain revenues through varying market conditions over months.

Low leverage and improved balance sheet

A materially reduced debt-to-equity ratio gives the firm durable financial flexibility: lower interest burden, higher capacity to fund operations, return capital or invest in growth. This stronger capital structure enhances resilience to market stress over the medium term.

Consistent revenue growth and healthy margins

Sustained revenue growth alongside solid gross and operating margins indicates persistent operational efficiency and pricing power across lines. These margin levels support durable profitability and the ability to absorb cyclical revenue swings while reinvesting in client services.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flows signal weak cash conversion and earnings quality, limiting internal funding for growth, capital returns, or buffers against stress. Over months this can strain liquidity and force reliance on external financing or capital actions.

Rising expenses pressured net income

Higher compensation and non-compensation expenses erode earnings despite revenue gains. For services firms, persistent cost increases can compress long-term margins and make profits more sensitive to revenue cycles, challenging sustained margin improvement over the medium term.

Modest ROE and limited equity cushion

A mid-single-digit ROE and a modest equity ratio indicate limited capital returns and a thinner capital buffer versus peers. That constrains the firm’s ability to scale AUM, absorb losses, or deploy capital for strategic initiatives without diluting shareholders or increasing leverage.

Oppenheimer Holdings Business Overview & Revenue Model

Company Description

Oppenheimer Holdings Inc. (OPY) is a diversified financial services firm that operates through various segments including investment banking, asset management, and brokerage services. The company provides a wide range of financial products and services to institutional and individual clients, including equity and fixed income trading, investment advisory, and wealth management services. With a strong focus on delivering personalized financial solutions, Oppenheimer aims to enhance the financial success and well-being of its clients.

How the Company Makes Money

Oppenheimer Holdings generates revenue through several key streams. Primarily, the company earns money from its brokerage services, which include commissions on trading activities for equities and fixed-income securities. The investment banking segment contributes significantly to its earnings through advisory fees related to mergers and acquisitions, underwriting new securities, and providing capital market services. Additionally, the asset management division generates revenue from management fees based on assets under management (AUM) and performance-based fees. Oppenheimer also benefits from interest income earned on its financing activities and client margin loans. Strategic partnerships with institutional investors and financial organizations further enhance its revenue potential, creating a diverse financial ecosystem that supports sustained earnings growth.

Oppenheimer Holdings Financial Statement Overview

Summary

Income statement strength (75) is supported by positive TTM revenue growth and healthy EBIT/EBITDA margins, and the balance sheet shows improved leverage (debt-to-equity 0.17) with decent ROE (9.58%). However, cash flow is the key drag (50) due to negative operating and free cash flows and weak cash conversion (operating cash flow to net income -0.28), which raises liquidity and earnings-quality concerns despite improving AUM/AUA trends.

Income Statement

Oppenheimer Holdings shows a solid revenue growth rate of 3.43% in the TTM, indicating positive momentum. The gross profit margin of 38.99% and net profit margin of 5.50% reflect stable profitability, although the net profit margin is relatively modest. EBIT and EBITDA margins are healthy at 10.12% and 11.95% respectively, suggesting efficient cost management. Overall, the income statement reflects a stable financial performance with room for improvement in net profitability.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.17 in the TTM, indicating a strong reduction in leverage compared to previous years. Return on equity is at 9.58%, showing a decent return on shareholders' investments. The equity ratio stands at 24.10%, suggesting a balanced capital structure. While the reduction in debt is a positive sign, the overall equity position could be stronger.

Cash Flow

Oppenheimer Holdings faces challenges with negative operating and free cash flows in the TTM, reflecting cash management issues. The free cash flow growth rate is significantly negative, and the operating cash flow to net income ratio is -0.28, indicating inefficiencies in converting income to cash. The free cash flow to net income ratio is also negative, highlighting potential liquidity concerns. Improvement in cash flow management is necessary for financial stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.54B	1.43B	1.25B	1.11B	1.39B	1.20B
Gross Profit	498.50M	468.04M	441.50M	344.55M	484.89M	404.69M
EBITDA	247.71M	231.03M	152.57M	103.81M	268.62M	217.97M
Net Income	84.77M	71.56M	30.18M	32.35M	158.96M	122.99M
Balance Sheet
Total Assets	3.82B	3.38B	2.87B	2.71B	3.04B	2.71B
Cash, Cash Equivalents and Short-Term Investments	38.29M	33.15M	28.84M	112.43M	213.76M	35.42M
Total Debt	1.56B	687.59M	593.57M	633.23M	640.79M	663.73M
Total Liabilities	2.90B	2.53B	2.09B	1.89B	2.09B	2.03B
Stockholders Equity	920.27M	850.39M	789.17M	794.23M	823.20M	685.67M
Cash Flow
Free Cash Flow	79.19M	-113.32M	-35.87M	48.18M	219.52M	-58.59M
Operating Cash Flow	86.46M	-108.17M	-18.81M	64.49M	227.79M	-54.06M
Investing Cash Flow	-4.91M	-3.84M	-15.56M	-14.14M	-6.27M	-3.94M
Financing Cash Flow	-75.51M	116.32M	-74.76M	-253.91M	84.58M	13.87M

Oppenheimer Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 67.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OPY, the sentiment is Positive. The current price of 67.92 is below the 20-day moving average (MA) of 76.51, below the 50-day MA of 72.45, and below the 200-day MA of 68.28, indicating a bullish trend. The MACD of 1.76 indicates Negative momentum. The RSI at 70.56 is Negative, neither overbought nor oversold. The STOCH value of 34.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OPY.

Oppenheimer Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVR	76 Outperform	$13.66B	28.17	31.39%	0.95%	27.00%	63.47%
SF	72 Outperform	$12.56B	21.01	11.72%	1.43%	7.54%	2.73%
PJT	71 Outperform	$8.41B	26.60	91.85%	0.58%	23.16%	64.04%
OPY	69 Neutral	$875.67M	6.44	9.64%	0.99%	12.52%	16.53%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LPLA	63 Neutral	$29.17B	33.38	20.86%	0.32%	35.19%	-18.62%
JEF	60 Neutral	$12.65B	21.60	6.13%	2.52%	-5.41%	25.28%

Oppenheimer Holdings Corporate Events

Oppenheimer Holdings Declares Special Cash Dividend

On December 11, 2025, Oppenheimer Holdings Inc. declared a special cash dividend of $1.00 per share on its Class A and Class B common stock, payable on January 9, 2026, to shareholders recorded by December 26, 2025. This decision, amounting to an aggregate payment of approximately $10.5 million, reflects the company’s improved financial position and aims to reward shareholders for their loyalty, signaling optimism about future growth.

The most recent analyst rating on (OPY) stock is a Hold with a $70.00 price target. To see the full list of analyst forecasts on Oppenheimer Holdings stock, see the OPY Stock Forecast page.

Oppenheimer Holdings Reports Q3 2025 Financial Results

On November 3, 2025, Oppenheimer Holdings Inc. released a presentation to investors highlighting its financial performance for the third quarter of 2025. The company reported a net income of $21.7 million and revenue of $424.4 million, driven by strong equity underwriting volumes and increased advisory fees. Despite the rise in revenue, net income saw a decline compared to the previous year due to higher compensation and non-compensation expenses. The company achieved record highs in stockholders’ equity, book value, and tangible book value per share, reflecting positive earnings and market performance.

The most recent analyst rating on (OPY) stock is a Hold with a $76.00 price target. To see the full list of analyst forecasts on Oppenheimer Holdings stock, see the OPY Stock Forecast page.