OPY Financial Services

Oppenheimer Holdings Inc.

$90.04+7.48%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Financial Services
Industry: Capital Markets
Country: United States
Market cap: 964.1M USD
Full-time employees: 3,062

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
About average: growth

Ranks #143 of 791 banks & insurance companies (top 19%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $95M vs $48M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Oppenheimer recorded $95M of stock-based pay expense and spent $48M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Oppenheimer recorded $95M of stock-based pay expense and spent $48M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
More volatile share price. Beta 1.09: tends to move more than the market.
Oppenheimer's shares have swung more with the market than most peers' (beta 1.09, above the market's 1.0).

StockQuotient Score

65/ 100▲ 5 since Oct 27 close

Oct 5 56 → Nov 4 65 (+9)

Valuation

Is the price right?

71/100

Moderate▲ 15 since Oct 27 close

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 56 → 71

Share price -14.2%+14
Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Earnings yield
▲ P/B

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield95.1%

SEC filings · latest balance sheetReported value40% base weight · Z-score 0.55Sector median: 0.7950 · MAD: 0.2843

Earnings yield9.9%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score 0.81Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield-0.9%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share priceInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

50/100

Moderate

1/1 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 4.8%

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth16.1%

SEC filings · 12 months to Jun 2026Reported value100% base weight · Z-score 0.00Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth13.3%

SEC filings · 3 years to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth20.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

73/100

Moderate

2/2 inputs reported · High confidence

Since last quarter: ▼ Weaker

Free cash flow turned negative over the last 12 months

Why

Stronger than most peers on:

▲ ROA

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets2.4%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 2.01Sector median: 0.0117 · MAD: 0.0062

Return on equity10.5%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.07Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating margin8.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Oppenheimer

Is Oppenheimer getting weaker?: Its latest SEC filing (Jul 31, 2026) got weaker in some ways: free cash flow turned negative over the last 12 months. Its overall score is 65/100, up 5 since Oct 28, 2026.
How is Oppenheimer valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 71/100 against 950 banks & insurance peers. Earnings yield 9.9% vs a peer median of 7.9% (stronger than 70% of peers).Earnings yield 9.9% vs peers 7.9% (stronger than 70% of peers).
Is Oppenheimer growing?: At about the same pace as its peers. Growth scores 50/100 against 950 banks & insurance peers.
How profitable is Oppenheimer?: More profitable than most of its peers. Profitability scores 73/100 against 950 banks & insurance peers. Return on assets 2.4% vs a peer median of 1.2% (stronger than 80% of peers).Return on assets 2.4% vs peers 1.2% (stronger than 80% of peers).
How risky is Oppenheimer?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Free cash flow turned negative over the last 12 months

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.7B USD	1.8B USD	+4.8%
Net income (12 months)	97.2M USD	102.8M USD	+5.8%
Operating margin	8.3%	8.3%	+0.0 pts
Free cash flow (12 months)	87.0M USD	−9.0M USD	turned negative
Cash	34.6M USD	38.5M USD	+11.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Capital Markets · 24 companies

Valuations in Capital Markets are above their usual range since Nov 2016.

62% of months since Nov 2016 were valued lower than now.
56% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +34% and earnings +87% (medians): earnings grew faster than prices.
Median price-to-book is +21% vs the whole market, against a usual +28%.

Nov 2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	16.1%	4.1%	3.7%	7.4%	12.9%	▲ 5.5 pts
Net margin	11.4%	2.9%	2.4%	5.0%	9.1%	▲ 4.1 pts
Return on assets (ROA)	5.2%	1.2%	1.0%	2.1%	4.0%	▲ 1.9 pts
Return on equity (ROE)	19.3%	4.1%	3.8%	8.4%	15.1%	▲ 6.7 pts
Debt to equity	0.15×	0.14×	0.14×	0.00×	—	—
Interest coverage	22.79×	1.91×	0.68×	1.20×	2.44×	▲ 103%

OPY price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

About average: growth

Ranks #143 of 791 banks & insurance companies (top 19%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $95M vs $48M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Oppenheimer recorded $95M of stock-based pay expense and spent $48M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Oppenheimer recorded $95M of stock-based pay expense and spent $48M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

More volatile share price. Beta 1.09: tends to move more than the market.

Oppenheimer's shares have swung more with the market than most peers' (beta 1.09, above the market's 1.0).

Questions investors ask about Oppenheimer

Is Oppenheimer getting weaker?

Its latest SEC filing (Jul 31, 2026) got weaker in some ways: free cash flow turned negative over the last 12 months. Its overall score is 65/100, up 5 since Oct 28, 2026.

How is Oppenheimer valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 71/100 against 950 banks & insurance peers. Earnings yield 9.9% vs a peer median of 7.9% (stronger than 70% of peers).Earnings yield 9.9% vs peers 7.9% (stronger than 70% of peers).

Is Oppenheimer growing?

At about the same pace as its peers. Growth scores 50/100 against 950 banks & insurance peers.

How profitable is Oppenheimer?

More profitable than most of its peers. Profitability scores 73/100 against 950 banks & insurance peers. Return on assets 2.4% vs a peer median of 1.2% (stronger than 80% of peers).Return on assets 2.4% vs peers 1.2% (stronger than 80% of peers).

How risky is Oppenheimer?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.7B USD

1.8B USD

+4.8%

Net income (12 months)

97.2M USD

102.8M USD

+5.8%

Operating margin

8.3%

8.3%

+0.0 pts

Free cash flow (12 months)

87.0M USD

−9.0M USD

turned negative

Cash

34.6M USD

38.5M USD

+11.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

16.1%

4.1%

3.7%

7.4%

12.9%

▲ 5.5 pts

Net margin

11.4%

2.9%

2.4%

5.0%

9.1%

▲ 4.1 pts

Return on assets (ROA)

5.2%

1.2%

1.0%

2.1%

4.0%

▲ 1.9 pts

Return on equity (ROE)

19.3%

4.1%

3.8%

8.4%

15.1%

▲ 6.7 pts

Debt to equity

0.15×

0.14×

0.00×

—

Interest coverage

22.79×

1.91×

0.68×

1.20×

2.44×

▲ 103%