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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Opendoor Technologies's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $0.18.
The industry rank for Opendoor Technologies's Net-Net Working Capital or its related term are showing as below:
OPEN's Price-to-Net-Net-Working-Capital is ranked worse than 89.39% of 330
companies
in the Real Estate industry
Industry Median: 4.625
vs OPEN: 25.00
Opendoor Technologies (NAS:OPEN) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Opendoor Technologies Net-Net Working Capital Related Terms
Opendoor Technologies Net-Net Working Capital Historical Data
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The historical data trend for Opendoor Technologies's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Opendoor Technologies Net-Net Working Capital Chart
OPEN vs CWK, IHS, NMRK: Net-Net Working Capital Comparison
For the Real Estate Services subindustry, Opendoor Technologies's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Opendoor Technologies Price-to-Net-Net-Working-Capital vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Opendoor Technologies's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Opendoor Technologies's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $0.18 mean?
Opendoor Technologies (OPEN) has a Net-Net Working Capital of $0.18 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Opendoor Technologies According to the industry distribution chart, Opendoor Technologies ranks #295 out of 330 companies in the Real Estate industry, placing it in the top 89.4%.
Is Opendoor Technologies' Net-Net Working Capital too high?
Opendoor Technologies' current Net-Net Working Capital is $0.18. The Real Estate industry median Net-Net Working Capital is 4.63. Opendoor Technologies' value of $0.18 is 96.1% below this industry median. Based on the distribution chart, Opendoor Technologies ranks #295 out of 330 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Opendoor Technologies has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Opendoor Technologies' Net-Net Working Capital compare to CWK and IHS?
According to the Real Estate industry distribution chart, Opendoor Technologies ranks #295 out of 330 companies for Net-Net Working Capital. This places Opendoor Technologies in the lower half of its industry. The industry median Net-Net Working Capital is 4.63. Opendoor Technologies' value of $0.18 is 96.1% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Real Estate company?
The median Net-Net Working Capital among Real Estate companies is 4.63, based on 330 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Opendoor Technologies's current Net-Net Working Capital of $0.18 is 96.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Opendoor Technologies For the Real Estate industry, the median Net-Net Working Capital is 4.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Opendoor Technologies's current Net-Net Working Capital is $0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Opendoor Technologies stock overvalued right now?
Based on GuruFocus' analysis, Opendoor Technologies (OPEN) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.22, compared to a current price of $4.50 — trading 268.9% above its estimated fair value. The current Net-Net Working Capital is $0.18 and 96.1% below the Real Estate industry median of 4.63. Opendoor Technologies' overall GF Score™ is 57/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Opendoor Technologies (OPEN), the current Net-Net Working Capital is $0.18 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Opendoor Technologies (OPEN) Overvalued in 2026?
Based on GuruFocus' analysis, Opendoor Technologies stock appears to be overvalued.
The current stock price of $4.50 is trading 268.9% above its estimated GF Value™ of $1.22.
GuruFocus considers Opendoor Technologies to be Significantly Overvalued.
Key valuation signals for OPEN:
Net-Net Working Capital: $0.18
GF Value™: $1.22 vs. price of $4.50 (268.9% above fair value)
Industry Position: 96.1% below the Real Estate median (#295 of 330)
No single metric tells the full story. See the OPEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Opendoor Technologies Inc is an end-to-end real estate platform enabling customers to sell and buy a home online. Its product offerings include Sell to Opendoor, its core product where sellers sell their homes directly to the company, and it resells those homes to buyers; List with Opendoor, for customers to list their homes with a partner agent; and Opendoor Marketplace, a capital-light marketplace offering that connects home sellers with both institutional and retail buyers. In addition to these products, the company also offers its customers integrated title insurance and escrow services through its subsidiaries. A vast majority of the company's revenue is generated by its core product offering, where it acquires homes directly from sellers and resells those homes to buyers.
57GF Score
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