What is Oppenheimer Holdings Inc worth?
With the base-case assumptions below, a discounted cash flow model on Oppenheimer Holdings Inc's reported free cash flow gives $325.40 per share. The share price was $119.78 on September 25, 2026, 63% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 1.5% | 10.0% | $204.66 | +71% |
| Base | 6.5% | 9.0% | $325.40 | +172% |
| Bull | 11.5% | 8.0% | $566.13 | +373% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $414.58 | $441.81 | $475.09 | $516.69 | $570.17 |
| 8.0% | $348.03 | $365.68 | $386.55 | $411.59 | $442.20 |
| 9.0% | $299.39 | $311.47 | $325.40 | $341.65 | $360.85 |
| 10.0% | $262.34 | $270.93 | $280.66 | $291.78 | $304.61 |
| 11.0% | $233.21 | $239.51 | $246.54 | $254.45 | $263.42 |
Where the presets come from
Base: years 1 to 5 grow at Oppenheimer Holdings Inc's revenue growth rate over the last 5 fiscal years (6.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions