What is Open Text's operating income?

Open Text's total operating income in 2026 was $1.08 billion, based on the following breakdown: Total Gross Profit: $3.87 billion Total Operating Expenses: $2.79 billion

Open Text (OTEX) Financials

$24.54 -0.34 (-1.37%)

Closing price 08/14/2026 04:00 PM Eastern

Extended Trading

$24.64 +0.10 (+0.41%)

As of 08/14/2026 07:34 PM Eastern

Compare

Annual Income Statements for Open Text

This table shows Open Text's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	284	1,026	242	286	234	311	397	150	465	436	643
Consolidated Net Income / (Loss)	284	1,026	242	286	234	311	397	151	465	436	643
Net Income / (Loss) Continuing Operations	284	1,026	3,971	286	234	311	397	151	465	436	643
Total Pre-Tax Income	291	250	386	441	345	651	516	221	729	482	859
Total Operating Income	369	355	507	567	504	741	645	516	887	893	1,083
Total Gross Profit	1,250	1,530	3,728	1,938	2,106	2,352	2,432	3,168	4,191	3,734	3,868
Total Revenue	1,824	2,291	5,630	2,869	3,110	3,386	3,494	4,485	5,770	5,168	5,246
Operating Revenue	1,824	2,291	5,630	2,869	3,110	3,386	3,494	4,485	5,770	5,168	5,246
Total Cost of Revenue	574	762	1,902	931	1,004	1,034	1,062	1,317	1,579	1,434	1,378
Operating Cost of Revenue	574	762	1,902	931	1,004	1,034	1,062	1,317	1,579	1,434	1,378
Total Operating Expenses	882	1,175	-507	1,371	1,602	1,611	1,787	2,652	3,304	2,842	2,786
Selling, General & Admin Expense	140	170	205	208	238	264	317	420	577	428	437
Marketing Expense	344	444	529	518	585	622	677	970	1,163	1,059	1,136
Research & Development Expense	194	281	323	322	370	421	440	659	864	756	648
Depreciation Expense	55	64	87	98	89	85	88	108	132	131	144
Amortization Expense	113	151	184	190	220	217	217	326	432	322	289
Restructuring Charge	35	64	29	36	100	1.75	47	169	135	146	133
Total Other Income / (Expense), net	-78	-105	-121	-126	-158	-90	-129	-295	-158	-411	-224
Interest & Investment Income	-	-	-	-	-	-	-158	-329	-516	-328	-310
Other Income / (Expense), net	-1.42	16	18	10	-12	61	29	34	358	-83	86
Income Tax Expense	6.28	-776	144	155	111	340	119	71	264	46	216
Net Income / (Loss) Attributable to Noncontrolling Interest	0.02	0.26	0.08	0.00	0.14	0.19	0.17	0.19	0.19	0.20	0.24
Basic Earnings per Share	$1.17	$4.04	$0.91	$1.06	$0.86	$1.14	$1.46	$0.56	$1.71	$1.66	$2.58
Weighted Average Basic Shares Outstanding	242.93M	253.88M	266.09M	268.78M	270.85M	272.53M	271.27M	270.30M	271.55M	263.27M	249.03M
Diluted Earnings per Share	$1.17	$4.01	$0.91	$1.06	$0.86	$1.14	$1.46	$0.56	$1.71	$1.65	$2.58
Weighted Average Diluted Shares Outstanding	244.08M	255.81M	267.49M	269.91M	271.82M	273.48M	271.91M	270.45M	272.59M	263.65M	249.37M
Weighted Average Basic & Diluted Shares Outstanding	243.10M	253.90M	266.20M	269.30M	271.88M	271.75M	269.82M	271.19M	268.19M	254.32M	242.13M

This table shows Open Text's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	38	98	248	84	230	93	29	147	168	173	156
Consolidated Net Income / (Loss)	38	98	248	84	230	93	29	147	168	173	156
Net Income / (Loss) Continuing Operations	38	98	248	84	230	93	29	147	168	173	156
Total Pre-Tax Income	46	104	488	86	281	104	11	186	215	207	251
Total Operating Income	254	227	193	206	296	209	182	270	292	201	320
Total Gross Profit	1,129	1,056	988	910	978	898	948	938	982	937	1,011
Total Revenue	1,535	1,447	1,362	1,269	1,335	1,254	1,311	1,288	1,327	1,283	1,349
Operating Revenue	1,535	1,447	1,362	1,269	1,335	1,254	1,311	1,288	1,327	1,283	1,349
Total Cost of Revenue	406	391	374	359	357	356	363	351	345	345	338
Operating Cost of Revenue	406	391	374	359	357	356	363	351	345	345	338
Total Operating Expenses	875	829	794	704	682	689	766	668	690	736	692
Selling, General & Admin Expense	173	146	127	107	99	116	106	106	110	109	112
Marketing Expense	288	304	285	246	274	260	280	257	288	283	308
Research & Development Expense	213	227	205	191	181	197	187	169	158	171	149
Depreciation Expense	33	32	32	32	32	32	34	36	35	34	38
Amortization Expense	114	101	97	82	81	80	80	80	79	65	65
Restructuring Charge	54	20	48	47	15	3.85	80	20	20	74	19
Total Other Income / (Expense), net	-208	-123	295	-120	-15	-105	-170	-84	-76	5.82	-69
Interest & Investment Income	-139	-133	-	-84	-84	-79	-81	-81	-79	-74	-75
Other Income / (Expense), net	-69	9.95	397	-36	69	-27	-89	-2.98	2.93	80	5.69
Income Tax Expense	8.05	6.03	240	1.88	51	11	-18	39	47	34	95
Net Income / (Loss) Attributable to Noncontrolling Interest	0.06	0.04	0.05	0.05	0.04	0.05	0.05	0.04	0.04	0.10	0.06
Basic Earnings per Share	$0.14	$0.36	$0.91	$0.32	$0.87	$0.35	$0.12	$0.58	$0.67	$0.70	$0.63
Weighted Average Basic Shares Outstanding	271.57M	272.27M	271.55M	267.40M	265.10M	262.84M	263.27M	253.65M	251.98M	247.84M	249.03M
Diluted Earnings per Share	$0.14	$0.36	$0.91	$0.32	$0.87	$0.35	$0.11	$0.58	$0.66	$0.70	$0.64
Weighted Average Diluted Shares Outstanding	272.14M	273.03M	272.59M	267.82M	265.19M	263.83M	263.65M	253.77M	253.73M	247.96M	249.37M
Weighted Average Basic & Diluted Shares Outstanding	272.04M	272.87M	268.19M	265.88M	264.00M	259.14M	254.32M	252.01M	250.60M	242.66M	242.13M

This table details how cash moves in and out of Open Text's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025	6/30/2026
Net Change in Cash & Equivalents	584	-841	240	263	754	-87	86	-462	49	-125	-201
Net Cash From Operating Activities	526	440	708	876	955	876	982	779	968	831	1,007
Net Cash From Continuing Operating Activities	526	440	708	876	954	876	982	779	968	864	1,001
Net Income / (Loss) Continuing Operations	284	1,026	242	286	234	311	397	151	465	436	643
Consolidated Net Income / (Loss)	284	1,026	242	286	234	311	397	151	465	436	643
Depreciation Expense	242	346	457	471	515	521	504	657	808	641	607
Amortization Expense	15	11	8.89	4.33	4.63	4.55	5.42	17	25	22	23
Non-Cash Adjustments To Reconcile Net Income	31	30	27	-10	51	-41	25	238	-275	32	-92
Changes in Operating Assets and Liabilities, net	-47	-972	-27	126	150	81	50	-283	-55	-268	-180
Net Cash From Investing Activities	-361	-2,191	-444	-465	-1,469	-69	-971	-5,651	2,055	-154	117
Net Cash From Continuing Investing Activities	-361	-2,191	-444	-465	-1,469	-69	-971	-5,651	2,055	-154	117
Purchase of Property, Plant & Equipment	-70	-80	-105	-135	-73	-64	-93	-124	-159	-143	-199
Acquisitions	0.00	-2,115	-321	-2.28	-1,383	-0.97	-856	-5,658	-9.27	0.00	0.00
Purchase of Investments	-9.39	-	-	-	-	-	-	0.00	0.00	-10	0.00
Divestitures	-	-	-	-	-	-	0.00	0.00	2,229	-12	312
Sale and/or Maturity of Investments	11	9.21	-	-	-	-	0.00	131	4.46	5.17	0.01
Other Investing Activities, net	-293	-5.94	-18	-328	-14	-4.12	-22	-0.87	-9.76	6.61	4.56
Net Cash From Financing Activities	430	910	-24	-148	1,269	-925	138	4,403	-2,962	-835	-1,319
Net Cash From Continuing Financing Activities	430	910	-24	-148	1,269	-925	138	4,403	-2,977	-835	-1,319
Repayment of Debt	-15	-65	-1,154	-10	-1,747	-610	-902	-282	-2,574	-39	-652
Repurchase of Common Equity	-76	-28	0.00	0.00	0.00	-119	-177	0.00	-150	-413	-416
Payment of Dividends	-99	-121	-146	-169	-189	-211	-238	-260	-267	-272	-268
Issuance of Common Equity	20	640	76	58	67	80	67	39	67	35	56
Other Financing Activities, net	0.23	1.53	-	-26	-12	-65	-112	-22	-53	-146	-39

This table details how cash moves in and out of Open Text's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	83	122	155	-280	122	151	-117	-69	184	-18	-298
Net Cash From Operating Activities	351	385	185	-78	348	402	158	148	319	355	186
Net Cash From Continuing Operating Activities	351	385	185	-59	319	412	191	148	319	355	180
Net Income / (Loss) Continuing Operations	38	98	248	84	230	93	29	147	168	173	156
Consolidated Net Income / (Loss)	38	98	248	84	230	93	29	147	168	173	156
Depreciation Expense	218	181	178	161	160	159	161	160	158	143	146
Amortization Expense	7.33	6.77	5.67	5.30	5.50	5.54	5.64	5.76	5.85	5.56	5.35
Non-Cash Adjustments To Reconcile Net Income	74	13	-377	18	-17	-1.29	33	-14	-19	-70	9.80
Changes in Operating Assets and Liabilities, net	14	85	131	-327	-60	156	-37	-151	5.15	103	-137
Net Cash From Investing Activities	-46	-28	2,180	-36	-47	-36	-34	-45	-39	112	89
Net Cash From Continuing Investing Activities	-46	-28	2,180	-36	-47	-36	-34	-45	-39	112	89
Purchase of Property, Plant & Equipment	-45	-37	-40	-39	-41	-28	-34	-47	-39	-50	-64
Divestitures	-	-	-	-	-	-	-	-	-	-	149
Other Investing Activities, net	-1.23	6.32	-9.29	0.36	5.54	-11	12	0.63	-	-	3.93
Net Cash From Financing Activities	-236	-227	-2,202	-185	-150	-226	-274	-176	-94	-479	-570
Net Cash From Continuing Financing Activities	-236	-227	-2,217	-185	-150	-226	-274	-176	-94	-480	-568
Repayment of Debt	-187	-188	-2,010	-8.96	-10	-8.96	-11	-8.96	-8.96	-173	-461
Repurchase of Common Equity	-	-	-	-87	-66	-115	-145	-108	-50	-247	-12
Payment of Dividends	-66	-67	-67	-69	-68	-68	-66	-68	-69	-66	-65
Issuance of Common Equity	18	28	9.89	9.45	8.29	8.19	9.45	8.38	33	7.96	6.96
Other Financing Activities, net	-	-	-	-29	-14	-42	-60	0.00	-	-1.33	-37

This table presents Open Text's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025	6/30/2026
Total Assets	5,154	7,481	7,765	7,934	10,235	9,609	10,179	17,089	14,206	13,774	13,107
Total Current Assets	1,672	1,003	1,328	1,561	2,386	2,202	2,285	2,275	2,277	2,201	2,118
Cash & Equivalents	1,284	443	683	941	1,693	1,607	1,694	1,232	1,281	1,156	956
Accounts Receivable	286	446	488	464	466	439	427	683	626	660	751
Prepaid Expenses	59	82	101	97	136	99	121	222	243	199	236
Current Deferred & Refundable Income Taxes	32	33	56	38	61	32	18	68	61	109	98
Other Current Assets	-	-	0.00	21	30	25	26	71	66	78	77
Plant, Property, & Equipment, net	184	227	264	249	245	234	245	357	368	375	522
Total Noncurrent Assets	3,298	6,250	6,173	6,123	7,604	7,174	7,649	14,457	11,561	11,197	10,466
Goodwill	2,326	3,417	3,580	3,770	4,672	4,692	5,245	8,663	7,488	7,517	7,327
Intangible Assets	646	1,473	1,297	1,147	1,613	1,187	1,075	4,081	2,486	1,977	1,475
Noncurrent Deferred & Refundable Income Taxes	250	1,224	1,147	1,042	941	832	854	1,021	1,029	1,148	1,168
Other Noncurrent Operating Assets	76	136	149	164	378	463	475	693	557	555	496
Total Liabilities & Shareholders' Equity	5,154	7,481	7,765	7,934	10,235	9,609	10,179	17,089	14,206	13,774	13,107
Total Liabilities	3,175	3,947	4,048	4,049	6,228	5,510	6,147	13,067	10,006	9,843	9,090
Total Current Liabilities	671	1,127	995	1,015	1,904	1,362	1,468	3,220	2,800	2,747	2,623
Short-Term Debt	8.00	183	10	10	610	10	10	321	36	36	36
Accounts Payable	257	342	302	330	373	424	449	996	931	1,027	969
Current Deferred Revenue	374	570	644	642	812	853	902	1,722	1,521	1,515	1,483
Current Deferred & Payable Income Tax Liabilities	32	32	38	33	45	17	51	89	236	93	72
Other Current Liabilities	-	-	-	0.00	64	58	56	91	76	76	64
Total Noncurrent Liabilities	2,504	2,820	3,053	3,035	4,324	4,148	4,678	9,847	7,206	7,096	6,467
Long-Term Debt	2,138	2,387	2,611	2,605	3,584	3,579	4,210	8,562	6,357	6,342	5,735
Noncurrent Deferred Revenue	46	67	72	47	94	99	91	218	162	169	160
Noncurrent Deferred & Payable Income Tax Liabilities	228	257	252	258	320	142	100	618	294	221	205
Noncurrent Employee Benefit Liabilities	62	59	66	75	73	75	61	126	127	132	100
Other Noncurrent Operating Liabilities	30	50	53	49	252	253	217	324	265	232	267
Total Equity & Noncontrolling Interests	1,979	3,533	3,717	3,885	4,007	4,099	4,032	4,022	4,200	3,931	4,016
Total Preferred & Common Equity	1,979	3,532	3,716	3,883	4,005	4,098	4,031	4,021	4,198	3,929	4,014
Total Common Equity	1,979	3,532	3,716	3,883	4,005	4,098	4,031	4,021	4,198	3,929	4,014
Common Stock	965	1,613	1,707	1,774	1,852	1,948	2,039	2,177	2,272	2,194	2,160
Retained Earnings	993	1,898	1,994	2,114	2,159	2,153	2,160	2,049	2,119	1,940	2,016
Treasury Stock	-25	-28	-19	-29	-24	-69	-160	-152	-123	-138	-124
Accumulated Other Comprehensive Income / (Loss)	46	49	34	24	18	66	-7.66	-54	-70	-67	-39
Noncontrolling Interest	0.54	0.96	1.04	1.22	1.32	1.51	1.14	1.33	1.52	1.72	1.96

This table presents Open Text's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2022	3/31/2023	9/30/2023	12/31/2023	3/31/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	11,218	17,428	16,554	16,443	16,393	13,779	13,732	13,755	13,475	13,570	13,325
Total Current Assets	3,459	2,433	1,945	4,084	4,192	1,980	2,085	2,162	2,137	2,352	2,384
Cash & Equivalents	2,821	1,397	920	1,003	1,125	1,000	1,122	1,278	1,087	1,271	1,254
Accounts Receivable	471	676	677	735	654	593	640	593	591	666	621
Prepaid Expenses	131	251	200	215	212	220	187	201	198	186	215
Current Deferred & Refundable Income Taxes	10	48	70	8.34	14	97	68	19	76	39	50
Other Current Assets	26	61	79	71	66	70	68	71	81	74	67
Other Current Nonoperating Assets	-	-	-	2,051	2,120	-	-	-	104	116	177
Plant, Property, & Equipment, net	251	341	362	353	346	365	356	368	371	389	391
Total Noncurrent Assets	7,509	14,654	14,247	12,007	11,854	11,434	11,291	11,225	10,968	10,829	10,550
Goodwill	5,250	8,749	8,619	7,604	7,528	7,503	7,483	7,494	7,442	7,434	7,325
Intangible Assets	884	4,222	3,888	2,773	2,624	2,358	2,229	2,102	1,853	1,730	1,583
Noncurrent Deferred & Refundable Income Taxes	858	979	1,091	1,020	1,115	1,009	1,032	1,069	1,134	1,145	1,146
Other Noncurrent Operating Assets	517	705	649	609	587	564	547	560	540	520	496
Total Liabilities & Shareholders' Equity	11,218	17,428	16,554	16,443	16,393	13,779	13,732	13,755	13,475	13,570	13,325
Total Liabilities	7,097	13,304	12,540	12,413	12,262	9,642	9,500	9,624	9,523	9,525	9,361
Total Current Liabilities	1,494	3,484	2,822	2,959	2,988	2,500	2,401	2,523	2,463	2,505	2,535
Short-Term Debt	10	496	146	46	46	36	36	36	36	36	36
Accounts Payable	459	911	836	949	899	863	773	848	889	930	899
Current Deferred Revenue	879	1,785	1,596	1,535	1,584	1,450	1,453	1,527	1,403	1,457	1,508
Current Deferred & Payable Income Tax Liabilities	88	198	153	119	151	75	65	37	47	2.80	0.00
Other Current Liabilities	58	94	90	87	81	75	75	76	74	67	63
Other Current Nonoperating Liabilities	-	-	-	223	228	-	-	-	14	13	29
Total Noncurrent Liabilities	5,602	9,820	9,718	9,454	9,274	7,143	7,099	7,101	7,060	7,020	6,826
Long-Term Debt	5,193	8,565	8,555	8,475	8,306	6,353	6,349	6,345	6,339	6,336	6,175
Noncurrent Deferred Revenue	85	240	197	170	171	162	160	172	159	165	160
Noncurrent Deferred & Payable Income Tax Liabilities	60	552	538	391	396	235	224	214	205	190	172
Noncurrent Employee Benefit Liabilities	57	112	126	129	129	134	127	132	134	133	140
Other Noncurrent Operating Liabilities	208	350	302	289	273	259	240	238	224	196	180
Total Equity & Noncontrolling Interests	4,121	4,123	4,014	4,030	4,131	4,137	4,232	4,130	3,953	4,045	3,964
Total Preferred & Common Equity	4,120	4,122	4,013	4,029	4,129	4,135	4,230	4,129	3,951	4,044	3,962
Total Common Equity	4,120	4,122	4,013	4,029	4,129	4,135	4,230	4,129	3,951	4,044	3,962
Common Stock	2,092	2,130	2,217	2,262	2,277	2,290	2,276	2,200	2,189	2,184	2,138
Retained Earnings	2,171	2,163	2,062	2,030	2,059	2,065	2,175	2,082	1,939	1,972	1,946
Treasury Stock	-142	-139	-196	-179	-134	-146	-144	-78	-131	-74	-74
Accumulated Other Comprehensive Income / (Loss)	-1.03	-33	-70	-83	-73	-74	-76	-76	-47	-38	-47
Noncontrolling Interest	1.22	1.28	1.37	1.44	1.48	1.58	1.62	1.67	1.77	1.80	1.90

This table displays calculated financial ratios and metrics derived from Open Text's official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	242,662,360.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	242,662,360.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.65
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.50%	25.59%	145.76%	-49.05%	8.40%	8.89%	3.18%	28.37%	28.64%	-10.42%	1.51%
EBITDA Growth	8.37%	16.57%	36.15%	6.25%	-3.94%	31.31%	-10.86%	3.52%	69.71%	-29.13%	22.06%
EBIT Growth	14.49%	0.90%	41.63%	10.01%	-14.83%	63.22%	-16.01%	-18.27%	126.14%	-34.97%	44.27%
NOPAT Growth	17.37%	304.38%	-78.20%	15.62%	-7.01%	3.53%	40.25%	-29.25%	61.14%	42.68%	0.41%
Net Income Growth	21.37%	260.61%	-76.38%	17.89%	-17.95%	32.64%	27.79%	-62.10%	209.02%	-6.28%	47.52%
EPS Growth	21.37%	242.74%	-77.31%	16.48%	-18.87%	32.56%	28.07%	-61.64%	205.36%	-3.51%	56.36%
Operating Cash Flow Growth	0.51%	-16.24%	60.80%	23.75%	8.93%	-8.22%	12.06%	-20.64%	24.19%	-14.17%	21.21%
Free Cash Flow Firm Growth	25.59%	-762.73%	123.53%	43.67%	-231.01%	228.52%	-97.53%	-24,773.82%	161.45%	-66.96%	17.07%
Invested Capital Growth	5.74%	100.02%	-0.09%	-1.70%	17.08%	-6.56%	7.85%	78.00%	-20.23%	-1.72%	-3.51%
Revenue Q/Q Growth	0.06%	8.51%	106.66%	-49.59%	2.62%	2.02%	0.26%	15.10%	-2.18%	-0.99%	0.74%
EBITDA Q/Q Growth	1.42%	9.52%	3.82%	1.88%	-3.52%	8.33%	-6.35%	6.00%	26.85%	-25.90%	13.81%
EBIT Q/Q Growth	3.00%	7.40%	4.17%	3.73%	-11.23%	17.19%	-10.51%	-7.03%	65.82%	-38.07%	24.90%
NOPAT Q/Q Growth	7.21%	-4.93%	10.37%	-0.28%	-11.13%	82.19%	-8.22%	-19.41%	-20.99%	30.59%	3.00%
Net Income Q/Q Growth	6.58%	-3.76%	6.90%	3.67%	-16.29%	99.37%	-16.61%	-50.06%	176.42%	-33.47%	24.56%
EPS Q/Q Growth	6.58%	-0.99%	7.06%	3.92%	-17.31%	103.57%	-16.57%	-50.00%	175.81%	-32.65%	25.85%
Operating Cash Flow Q/Q Growth	-2.36%	-3.41%	16.54%	3.02%	5.58%	1.85%	-4.31%	-14.92%	7.79%	-3.15%	2.82%
Free Cash Flow Firm Q/Q Growth	-56.77%	10.77%	59.87%	5.73%	8.91%	-1.01%	-56.75%	-1.17%	-3.67%	13.89%	-9.26%
Invested Capital Q/Q Growth	8.74%	-0.24%	-1.82%	-2.30%	-3.46%	-1.07%	-1.27%	-0.97%	-1.61%	-0.88%	0.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.53%	66.76%	66.22%	67.56%	67.72%	69.45%	69.60%	70.64%	72.64%	72.25%	73.74%
EBITDA Margin	34.21%	31.75%	17.59%	36.69%	32.51%	39.20%	33.87%	27.31%	36.03%	28.50%	34.27%
Operating Margin	20.20%	15.48%	9.00%	19.77%	16.19%	21.88%	18.45%	11.51%	15.38%	17.27%	20.64%
EBIT Margin	20.13%	16.17%	9.32%	20.12%	15.81%	23.69%	19.29%	12.28%	21.59%	15.67%	22.27%
Profit (Net Income) Margin	15.60%	44.78%	4.30%	9.96%	7.54%	9.18%	11.37%	3.36%	8.06%	8.44%	12.26%
Tax Burden Percent	97.84%	411.10%	62.75%	64.83%	67.89%	47.77%	76.99%	68.03%	63.80%	90.46%	74.90%
Interest Burden Percent	79.20%	67.37%	73.59%	76.33%	70.22%	81.11%	76.57%	40.19%	58.56%	59.52%	73.50%
Effective Tax Rate	2.16%	-311.10%	37.25%	35.17%	32.11%	52.23%	23.01%	31.97%	36.20%	9.54%	25.10%
Return on Invested Capital (ROIC)	13.10%	34.35%	5.62%	6.56%	5.67%	5.62%	7.85%	3.85%	5.39%	8.75%	9.02%
ROIC Less NNEP Spread (ROIC-NNEP)	4.13%	5.31%	1.90%	2.02%	0.52%	3.70%	3.46%	-0.09%	3.82%	1.56%	5.68%
Return on Net Nonoperating Assets (RNNOA)	1.84%	2.87%	1.06%	0.96%	0.27%	2.05%	1.92%	-0.11%	5.92%	1.98%	7.17%
Return on Equity (ROE)	14.94%	37.22%	6.68%	7.51%	5.94%	7.67%	9.77%	3.74%	11.32%	10.73%	16.19%
Cash Return on Invested Capital (CROIC)	7.52%	-32.32%	5.71%	8.27%	-10.07%	12.41%	0.31%	-52.26%	27.90%	10.48%	12.59%
Operating Return on Assets (OROA)	7.72%	5.86%	6.88%	7.35%	5.41%	8.09%	6.81%	4.04%	7.96%	5.79%	8.69%
Return on Assets (ROA)	5.98%	16.24%	3.18%	3.64%	2.58%	3.13%	4.02%	1.10%	2.97%	3.12%	4.79%
Return on Common Equity (ROCE)	14.93%	37.21%	6.68%	7.51%	5.94%	7.67%	9.77%	3.74%	11.31%	10.72%	16.18%
Return on Equity Simple (ROE_SIMPLE)	14.38%	29.04%	6.52%	7.36%	5.85%	7.59%	9.85%	3.74%	11.08%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	361	1,458	318	368	342	354	496	351	566	807	811
NOPAT Margin	19.77%	63.65%	5.65%	12.81%	10.99%	10.45%	14.21%	7.83%	9.81%	15.62%	15.45%
Net Nonoperating Expense Percent (NNEP)	8.97%	29.04%	3.72%	4.54%	5.15%	1.92%	4.40%	3.94%	1.58%	7.19%	3.34%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	7.83%	8.29%
Cost of Revenue to Revenue	31.47%	33.24%	33.78%	32.44%	32.28%	30.55%	30.40%	29.36%	27.36%	27.75%	26.26%
SG&A Expenses to Revenue	7.70%	7.44%	3.64%	7.25%	7.64%	7.78%	9.08%	9.36%	10.00%	8.28%	8.32%
R&D to Revenue	10.64%	12.27%	5.74%	11.22%	11.91%	12.45%	12.61%	15.17%	15.49%	14.63%	12.35%
Operating Expenses to Revenue	48.33%	51.28%	-9.00%	47.79%	51.53%	47.57%	51.14%	59.13%	57.26%	54.98%	53.10%
Earnings before Interest and Taxes (EBIT)	367	370	525	577	492	802	674	551	1,245	810	1,168
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	624	727	990	1,052	1,011	1,327	1,183	1,225	2,079	1,473	1,798
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.10	2.04	2.23	2.56	2.63	3.14	2.40	2.72	1.95	1.93	1.34
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.36	3.15	1.47	3.47	3.38	3.80	2.77	2.44	1.42	1.46	1.02
Price to Earnings (P/E)	21.55	7.04	34.25	34.85	44.89	41.40	24.35	72.77	17.62	17.36	8.36
Dividend Yield	1.64%	1.74%	1.77%	2.12%	1.80%	1.65%	2.47%	2.40%	3.33%	3.60%	4.97%
Earnings Yield	4.64%	14.21%	2.92%	2.87%	2.23%	2.42%	4.11%	1.37%	5.67%	5.76%	11.96%
Enterprise Value to Invested Capital (EV/IC)	2.47	1.65	1.81	2.09	2.00	2.44	1.86	1.59	1.43	1.40	1.15
Enterprise Value to Revenue (EV/Rev)	3.83	4.08	1.82	4.05	4.19	4.38	3.49	4.15	2.31	2.47	1.94
Enterprise Value to EBITDA (EV/EBITDA)	11.19	12.85	10.33	11.05	12.88	11.18	10.31	15.18	6.40	8.68	5.67
Enterprise Value to EBIT (EV/EBIT)	19.01	25.23	19.51	20.14	26.48	18.50	18.10	33.76	10.69	15.79	8.72
Enterprise Value to NOPAT (EV/NOPAT)	19.36	6.41	32.19	31.62	38.08	41.94	24.57	52.95	23.52	15.84	12.57
Enterprise Value to Operating Cash Flow (EV/OCF)	13.28	21.22	14.45	13.27	13.64	16.94	12.42	23.86	13.76	15.40	10.12
Enterprise Value to Free Cash Flow (EV/FCFF)	33.72	0.00	31.69	25.06	0.00	19.01	631.75	0.00	4.55	13.22	9.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.08	0.73	0.71	0.67	1.05	0.88	1.05	2.21	1.52	1.62	1.44
Long-Term Debt to Equity	1.08	0.68	0.70	0.67	0.89	0.87	1.04	2.13	1.51	1.61	1.43
Financial Leverage	0.45	0.54	0.56	0.48	0.53	0.55	0.55	1.26	1.55	1.27	1.26
Leverage Ratio	2.50	2.29	2.10	2.07	2.30	2.45	2.43	3.39	3.81	3.44	3.38
Compound Leverage Factor	1.98	1.54	1.55	1.58	1.62	1.99	1.86	1.36	2.23	2.05	2.49
Debt to Total Capital	52.02%	42.11%	41.35%	40.23%	51.14%	46.68%	51.13%	68.83%	60.35%	61.87%	58.96%
Short-Term Debt to Total Capital	0.19%	2.99%	0.16%	0.15%	7.44%	0.13%	0.12%	2.49%	0.34%	0.35%	0.37%
Long-Term Debt to Total Capital	51.83%	39.11%	41.19%	40.08%	43.71%	46.55%	51.01%	66.35%	60.01%	61.52%	58.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.02%	0.02%
Common Equity to Total Capital	47.97%	57.88%	58.64%	59.75%	48.84%	53.30%	48.85%	31.16%	39.63%	38.11%	41.02%
Debt to EBITDA	3.44	3.53	2.65	2.48	4.15	2.70	3.57	7.25	3.08	4.33	3.21
Net Debt to EBITDA	1.36	2.92	1.96	1.59	2.47	1.49	2.13	6.25	2.46	3.54	2.68
Long-Term Debt to EBITDA	3.43	3.28	2.64	2.48	3.55	2.70	3.56	6.99	3.06	4.31	3.19
Debt to NOPAT	5.95	1.76	8.24	7.11	12.27	10.14	8.50	25.29	11.30	7.90	7.12
Net Debt to NOPAT	2.36	1.46	6.09	4.55	7.32	5.60	5.09	21.79	9.03	6.47	5.94
Long-Term Debt to NOPAT	5.93	1.64	8.21	7.09	10.48	10.11	8.48	24.38	11.23	7.85	7.07
Altman Z-Score	2.25	1.90	2.59	2.53	1.83	2.45	1.90	0.97	1.35	1.18	1.22
Noncontrolling Interest Sharing Ratio	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.04%	0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.49	0.89	1.33	1.54	1.25	1.62	1.56	0.71	0.81	0.80	0.81
Quick Ratio	2.36	0.79	1.18	1.38	1.13	1.50	1.44	0.59	0.68	0.66	0.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	207	-1,372	323	464	-608	781	19	-4,764	2,928	967	1,132
Operating Cash Flow to CapEx	750.93%	553.26%	672.33%	650.84%	1,312.82%	1,375.92%	1,054.47%	629.24%	607.48%	579.95%	505.18%
Free Cash Flow to Firm to Interest Expense	2.71	-11.35	2.33	3.40	-4.15	5.15	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.88	3.64	5.11	6.42	6.52	5.78	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	5.97	2.98	4.35	5.43	6.02	5.36	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.36	0.74	0.37	0.34	0.34	0.35	0.33	0.37	0.37	0.39
Accounts Receivable Turnover	6.40	6.26	12.06	6.03	6.69	7.48	8.08	8.09	8.82	8.04	7.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.60	11.15	22.91	11.17	12.59	14.16	14.61	14.91	15.92	13.91	11.69
Accounts Payable Turnover	2.30	2.54	5.90	2.95	2.85	2.60	2.44	1.82	1.64	1.47	1.38
Days Sales Outstanding (DSO)	57.03	58.29	30.27	60.55	54.59	48.77	45.19	45.13	41.40	45.40	49.07
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	158.60	143.68	61.82	123.94	127.85	140.59	149.86	200.28	222.83	249.13	264.31
Cash Conversion Cycle (CCC)	-101.57	-85.39	-31.55	-63.39	-73.27	-91.82	-104.66	-155.15	-181.43	-203.72	-215.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,830	5,660	5,655	5,559	6,508	6,081	6,558	11,673	9,312	9,152	8,830
Invested Capital Turnover	0.66	0.54	1.00	0.51	0.52	0.54	0.55	0.49	0.55	0.56	0.58
Increase / (Decrease) in Invested Capital	154	2,830	-4.94	-96	950	-427	477	5,115	-2,362	-160	-322
Enterprise Value (EV)	6,981	9,345	10,234	11,624	13,018	14,845	12,198	18,595	13,311	12,790	10,191
Market Capitalization	6,130	7,218	8,295	9,949	10,515	12,862	9,671	10,943	8,197	7,567	5,375
Book Value per Share	$16.31	$13.38	$13.89	$14.41	$14.75	$15.00	$14.90	$14.85	$15.39	$15.16	$16.54
Tangible Book Value per Share	($8.19)	($5.14)	($4.34)	($3.83)	($8.39)	($6.52)	($8.46)	($32.22)	($21.17)	($21.48)	($19.73)
Total Capital	4,125	6,103	6,338	6,500	8,201	7,688	8,252	12,905	10,592	10,309	9,786
Total Debt	2,146	2,570	2,621	2,615	4,194	3,589	4,220	8,883	6,393	6,378	5,770
Total Long-Term Debt	2,138	2,387	2,611	2,605	3,584	3,579	4,210	8,562	6,357	6,342	5,735
Net Debt	850	2,126	1,938	1,674	2,501	1,982	2,526	7,651	5,112	5,221	4,814
Capital Expenditures (CapEx)	70	80	105	135	73	64	93	124	159	143	199
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-286	-384	-340	-384	-601	-757	-867	-1,855	-1,768	-1,666	-1,426
Debt-free Net Working Capital (DFNWC)	1,009	59	343	557	1,092	850	827	-624	-487	-510	-470
Net Working Capital (NWC)	1,001	-124	333	547	482	840	817	-944	-523	-546	-505
Net Nonoperating Expense (NNE)	76	432	76	82	107	43	99	201	101	371	168
Net Nonoperating Obligations (NNO)	850	2,126	1,938	1,674	2,501	1,982	2,526	7,651	5,112	5,221	4,814
Total Depreciation and Amortization (D&A)	257	357	466	475	519	525	509	674	833	663	630
Debt-free, Cash-free Net Working Capital to Revenue	-15.70%	-16.77%	-6.04%	-13.40%	-19.32%	-22.36%	-24.80%	-41.36%	-30.64%	-32.24%	-27.17%
Debt-free Net Working Capital to Revenue	55.32%	2.58%	6.09%	19.40%	35.12%	25.11%	23.67%	-13.90%	-8.45%	-9.86%	-8.95%
Net Working Capital to Revenue	54.89%	-5.39%	5.91%	19.05%	15.51%	24.81%	23.39%	-21.06%	-9.07%	-10.56%	-9.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.17	$4.04	$0.91	$1.06	$0.86	$1.14	$1.46	$0.56	$1.71	$1.66	$2.58
Adjusted Weighted Average Basic Shares Outstanding	242.93M	253.88M	266.09M	268.78M	270.85M	272.53M	271.27M	270.30M	271.55M	263.27M	249.03M
Adjusted Diluted Earnings per Share	$1.17	$4.01	$0.91	$1.06	$0.86	$1.14	$1.46	$0.56	$1.71	$1.65	$2.58
Adjusted Weighted Average Diluted Shares Outstanding	244.08M	255.81M	267.49M	269.91M	271.82M	273.48M	271.91M	270.45M	272.59M	263.65M	249.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$1.06	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	242.89M	264.24M	267.85M	270.01M	271.88M	271.75M	269.82M	271.19M	268.19M	254.32M	242.13M
Normalized Net Operating Profit after Tax (NOPAT)	395	293	336	391	410	520	532	466	652	939	910
Normalized NOPAT Margin	21.64%	12.78%	5.97%	13.62%	13.19%	15.35%	15.24%	10.40%	11.31%	18.18%	17.35%
Pre Tax Income Margin	15.94%	10.89%	6.86%	15.36%	11.10%	19.22%	14.77%	4.94%	12.64%	9.33%	16.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.81	3.06	3.79	4.23	3.36	5.29	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	4.72	12.06	2.30	2.69	2.34	2.34	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	3.89	2.41	3.03	3.24	2.86	4.87	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.81	11.40	1.53	1.71	1.84	1.92	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	34.89%	11.77%	60.10%	59.32%	80.52%	67.77%	59.92%	172.38%	57.46%	62.27%	41.72%
Augmented Payout Ratio	61.65%	14.48%	60.10%	59.32%	80.52%	106.08%	104.48%	172.38%	89.70%	157.04%	106.45%

This table displays calculated financial ratios and metrics derived from Open Text's official financial filings.

Metric	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	250,602,777.00	242,662,360.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	250,602,777.00	242,662,360.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.69	0.64
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	71.03%	16.27%	-8.63%	-10.97%	-13.05%	-13.32%	-3.79%	1.51%	-0.58%	2.24%	2.94%
EBITDA Growth	-12.07%	22.97%	131.86%	-28.29%	29.11%	-18.22%	-66.54%	28.39%	-13.47%	23.79%	84.27%
EBIT Growth	-46.82%	58.33%	515.35%	-26.81%	96.89%	-23.00%	-84.35%	56.50%	-19.13%	54.21%	252.17%
NOPAT Growth	35.55%	162.28%	15.84%	6.88%	15.76%	-12.49%	373.07%	5.59%	-6.00%	-10.33%	-57.29%
Net Income Growth	-85.40%	70.67%	609.96%	4.29%	509.23%	-5.57%	-88.37%	73.72%	-26.87%	86.05%	439.14%
EPS Growth	-85.42%	71.43%	605.56%	6.67%	521.43%	-2.78%	-87.91%	81.25%	-24.14%	100.00%	481.82%
Operating Cash Flow Growth	79.67%	14.23%	60.64%	-265.12%	-0.76%	4.56%	-14.59%	289.91%	-8.43%	-11.85%	17.45%
Free Cash Flow Firm Growth	-713.26%	150.10%	148.90%	147.14%	115.55%	-83.52%	-74.59%	-76.19%	45.24%	50.35%	-16.76%
Invested Capital Growth	49.45%	-19.71%	-20.23%	-19.24%	-2.32%	-2.44%	-1.72%	-3.94%	-4.76%	-4.99%	-3.51%
Revenue Q/Q Growth	7.68%	-5.72%	-5.87%	-6.84%	5.16%	-6.01%	4.48%	-1.71%	3.00%	-3.33%	5.19%
EBITDA Q/Q Growth	-12.59%	3.48%	82.11%	-56.46%	57.38%	-34.46%	-25.48%	67.04%	6.07%	-6.24%	10.92%
EBIT Q/Q Growth	-20.59%	28.06%	149.06%	-71.10%	113.62%	-49.92%	-49.38%	188.97%	10.38%	-4.49%	15.61%
NOPAT Q/Q Growth	10.84%	2.26%	-54.03%	105.12%	20.05%	-22.69%	148.51%	-54.22%	6.88%	-26.25%	18.35%
Net Income Q/Q Growth	-53.38%	160.56%	152.50%	-66.00%	172.33%	-59.61%	-68.89%	407.76%	14.64%	2.75%	-9.86%
EPS Q/Q Growth	-53.33%	157.14%	152.78%	-64.84%	171.88%	-59.77%	-68.57%	427.27%	13.79%	6.06%	-8.57%
Operating Cash Flow Q/Q Growth	644.15%	9.71%	-51.85%	-142.01%	547.26%	15.59%	-60.67%	-6.59%	115.66%	11.28%	-47.60%
Free Cash Flow Firm Q/Q Growth	42.64%	184.37%	-3.03%	0.44%	-81.08%	-10.57%	49.48%	-5.88%	15.43%	-7.42%	-17.24%
Invested Capital Q/Q Growth	-17.60%	-2.62%	-1.61%	2.30%	-0.33%	-2.74%	-0.88%	-0.02%	-1.18%	-2.98%	0.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	73.56%	72.96%	72.51%	71.74%	73.28%	71.61%	72.31%	72.78%	74.03%	73.08%	74.98%
EBITDA Margin	26.75%	29.36%	56.80%	26.54%	39.72%	27.70%	19.75%	33.57%	34.57%	33.53%	35.36%
Operating Margin	16.54%	15.69%	14.19%	16.25%	22.17%	16.67%	13.85%	20.96%	21.99%	15.69%	23.70%
EBIT Margin	12.06%	16.38%	43.34%	13.44%	27.31%	14.55%	7.05%	20.73%	22.21%	21.94%	24.12%
Profit (Net Income) Margin	2.46%	6.79%	18.23%	6.65%	17.23%	7.40%	2.20%	11.39%	12.67%	13.47%	11.54%
Tax Burden Percent	82.41%	94.22%	50.89%	97.82%	81.88%	89.54%	256.27%	78.91%	78.03%	83.44%	62.16%
Interest Burden Percent	24.74%	44.03%	82.64%	50.59%	77.05%	56.82%	12.20%	69.62%	73.11%	73.56%	77.00%
Effective Tax Rate	17.59%	5.78%	49.11%	2.18%	18.12%	10.46%	-156.27%	21.09%	21.97%	16.56%	37.84%
Return on Invested Capital (ROIC)	9.57%	8.21%	3.97%	8.37%	10.23%	8.33%	19.88%	9.19%	9.59%	7.57%	8.60%
ROIC Less NNEP Spread (ROIC-NNEP)	5.32%	6.43%	6.32%	6.59%	10.00%	6.53%	11.43%	7.93%	8.43%	7.67%	7.74%
Return on Net Nonoperating Assets (RNNOA)	5.27%	10.12%	9.81%	10.65%	13.26%	8.24%	14.53%	10.38%	10.45%	9.39%	9.77%
Return on Equity (ROE)	14.84%	18.33%	13.78%	19.02%	23.48%	16.58%	34.40%	19.57%	20.04%	16.97%	18.37%
Cash Return on Invested Capital (CROIC)	-31.90%	28.60%	27.90%	26.63%	8.96%	9.08%	10.48%	12.79%	13.56%	13.86%	12.59%
Operating Return on Assets (OROA)	4.97%	5.71%	15.98%	4.98%	9.80%	5.04%	2.60%	7.89%	8.43%	8.44%	9.41%
Return on Assets (ROA)	1.01%	2.37%	6.72%	2.46%	6.18%	2.56%	0.81%	4.33%	4.81%	5.18%	4.51%
Return on Common Equity (ROCE)	14.84%	18.32%	13.78%	19.01%	23.47%	16.57%	34.39%	19.56%	20.03%	16.96%	18.36%
Return on Equity Simple (ROE_SIMPLE)	3.17%	4.08%	0.00%	11.34%	15.63%	15.88%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	209	214	98	202	242	187	465	213	228	168	199
NOPAT Margin	13.63%	14.78%	7.22%	15.90%	18.15%	14.93%	35.50%	16.54%	17.16%	13.09%	14.73%
Net Nonoperating Expense Percent (NNEP)	4.25%	1.78%	-2.35%	1.78%	0.22%	1.81%	8.45%	1.25%	1.16%	-0.10%	0.86%
Return On Investment Capital (ROIC_SIMPLE)	1.67%	-	-	-	2.28%	1.78%	4.51%	2.06%	2.19%	1.65%	2.03%
Cost of Revenue to Revenue	26.44%	27.04%	27.49%	28.26%	26.72%	28.39%	27.69%	27.22%	25.97%	26.92%	25.02%
SG&A Expenses to Revenue	11.29%	10.08%	9.30%	8.41%	7.45%	9.23%	8.09%	8.21%	8.30%	8.47%	8.30%
R&D to Revenue	13.87%	16.17%	15.07%	15.03%	13.54%	15.73%	14.28%	13.13%	11.93%	13.35%	11.05%
Operating Expenses to Revenue	57.02%	57.27%	58.32%	55.49%	51.12%	54.94%	58.46%	51.82%	52.04%	57.39%	51.28%
Earnings before Interest and Taxes (EBIT)	185	237	590	171	364	183	92	267	295	281	325
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	411	425	774	337	530	347	259	432	459	430	477
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.74	2.54	1.95	2.16	1.78	1.62	1.93	2.41	2.03	1.41	1.34
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.94	1.78	1.42	1.59	1.39	1.28	1.46	1.83	1.59	1.07	1.02
Price to Earnings (P/E)	86.73	62.29	17.62	19.05	11.40	10.18	17.36	19.08	18.82	10.80	8.36
Dividend Yield	2.42%	2.58%	3.33%	3.04%	3.62%	4.10%	3.60%	2.84%	3.30%	4.89%	4.97%
Earnings Yield	1.15%	1.61%	5.67%	5.25%	8.78%	9.83%	5.76%	5.24%	5.31%	9.26%	11.96%
Enterprise Value to Invested Capital (EV/IC)	1.91	1.87	1.43	1.50	1.35	1.28	1.40	1.62	1.47	1.20	1.15
Enterprise Value to Revenue (EV/Rev)	3.26	3.00	2.31	2.55	2.36	2.26	2.47	2.85	2.57	2.02	1.94
Enterprise Value to EBITDA (EV/EBITDA)	11.91	10.80	6.40	7.36	6.19	5.92	8.68	9.43	8.89	6.67	5.67
Enterprise Value to EBIT (EV/EBIT)	27.97	23.57	10.69	12.10	9.39	9.00	15.79	16.33	15.91	11.26	8.72
Enterprise Value to NOPAT (EV/NOPAT)	29.54	24.71	23.52	25.12	20.13	19.04	15.84	18.06	16.53	13.38	12.57
Enterprise Value to Operating Cash Flow (EV/OCF)	21.85	19.72	13.76	16.99	15.23	13.73	15.40	14.01	12.96	10.76	10.12
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	5.82	4.55	5.04	14.86	13.86	13.22	12.38	10.59	8.44	9.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.11	2.02	1.52	1.54	1.51	1.54	1.62	1.61	1.58	1.57	1.44
Long-Term Debt to Equity	2.10	2.01	1.51	1.54	1.50	1.54	1.61	1.60	1.57	1.56	1.43
Financial Leverage	0.99	1.57	1.55	1.62	1.33	1.26	1.27	1.31	1.24	1.22	1.26
Leverage Ratio	3.39	4.10	3.81	3.72	3.65	3.65	3.44	3.37	3.30	3.35	3.38
Compound Leverage Factor	0.84	1.80	3.15	1.88	2.81	2.07	0.42	2.35	2.41	2.46	2.60
Debt to Total Capital	67.89%	66.91%	60.35%	60.70%	60.14%	60.71%	61.87%	61.73%	61.17%	61.04%	58.96%
Short-Term Debt to Total Capital	0.37%	0.37%	0.34%	0.34%	0.34%	0.34%	0.35%	0.35%	0.34%	0.35%	0.37%
Long-Term Debt to Total Capital	67.52%	66.54%	60.01%	60.36%	59.80%	60.37%	61.52%	61.38%	60.82%	60.69%	58.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Common Equity to Total Capital	32.10%	33.08%	39.63%	39.29%	39.84%	39.28%	38.11%	38.26%	38.82%	38.94%	41.02%
Debt to EBITDA	5.46	5.10	3.08	3.28	3.09	3.21	4.33	4.06	4.26	3.93	3.21
Net Debt to EBITDA	4.82	4.41	2.46	2.77	2.55	2.57	3.54	3.37	3.41	3.14	2.68
Long-Term Debt to EBITDA	5.43	5.07	3.06	3.27	3.07	3.19	4.31	4.04	4.23	3.91	3.19
Debt to NOPAT	13.56	11.66	11.30	11.21	10.05	10.32	7.90	7.78	7.91	7.89	7.12
Net Debt to NOPAT	11.96	10.09	9.03	9.46	8.28	8.25	6.47	6.45	6.33	6.30	5.94
Long-Term Debt to NOPAT	13.48	11.60	11.23	11.15	9.99	10.26	7.85	7.74	7.87	7.84	7.07
Altman Z-Score	1.17	1.18	1.20	1.17	1.15	1.02	1.01	1.22	1.16	1.01	1.01
Noncontrolling Interest Sharing Ratio	0.03%	0.03%	0.03%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.40	0.81	0.79	0.87	0.86	0.80	0.87	0.94	0.94	0.81
Quick Ratio	0.59	0.60	0.68	0.64	0.73	0.74	0.66	0.68	0.77	0.74	0.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,007	2,537	2,460	2,471	468	418	625	588	679	629	520
Operating Cash Flow to CapEx	775.10%	1,052.90%	463.29%	-197.90%	843.23%	1,415.74%	462.21%	317.54%	812.59%	713.18%	291.08%
Free Cash Flow to Firm to Interest Expense	0.00	19.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	2.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	2.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.35	0.37	0.37	0.36	0.35	0.37	0.38	0.38	0.38	0.39
Accounts Receivable Turnover	9.44	8.87	8.82	8.85	7.87	8.37	8.04	8.77	7.94	8.58	7.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	18.88	17.18	15.92	15.44	15.28	14.63	13.91	14.10	13.90	13.72	11.69
Accounts Payable Turnover	2.29	1.80	1.64	1.80	1.72	1.66	1.47	1.63	1.66	1.61	1.38
Days Sales Outstanding (DSO)	38.65	41.17	41.40	41.27	46.36	43.61	45.40	41.64	45.99	42.54	49.07
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	159.70	202.46	222.83	202.64	212.15	220.45	249.13	224.23	219.67	227.13	264.31
Cash Conversion Cycle (CCC)	-121.06	-161.30	-181.43	-161.37	-165.79	-176.84	-203.72	-182.59	-173.69	-184.60	-215.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,719	9,465	9,312	9,526	9,494	9,234	9,152	9,150	9,043	8,773	8,830
Invested Capital Turnover	0.70	0.56	0.55	0.53	0.56	0.56	0.56	0.56	0.56	0.58	0.58
Increase / (Decrease) in Invested Capital	3,216	-2,323	-2,362	-2,269	-225	-231	-160	-375	-451	-461	-322
Enterprise Value (EV)	18,568	17,700	13,311	14,316	12,794	11,774	12,790	14,796	13,313	10,532	10,191
Market Capitalization	11,049	10,472	8,197	8,925	7,530	6,669	7,567	9,506	8,211	5,573	5,375
Book Value per Share	$14.84	$15.18	$15.39	$15.42	$15.91	$15.64	$15.16	$15.54	$16.05	$15.81	$16.54
Tangible Book Value per Share	($23.38)	($22.14)	($21.17)	($21.35)	($20.62)	($20.71)	($21.48)	($21.01)	($20.32)	($19.74)	($19.73)
Total Capital	12,551	12,482	10,592	10,526	10,616	10,512	10,309	10,327	10,417	10,175	9,786
Total Debt	8,520	8,352	6,393	6,389	6,385	6,381	6,378	6,375	6,372	6,211	5,770
Total Long-Term Debt	8,475	8,306	6,357	6,353	6,349	6,345	6,342	6,339	6,336	6,175	5,735
Net Debt	7,517	7,226	5,112	5,389	5,262	5,103	5,221	5,288	5,100	4,956	4,814
Capital Expenditures (CapEx)	45	37	40	39	41	28	34	47	39	50	64
Debt-free, Cash-free Net Working Capital (DFCFNWC)	168	125	-1,768	-1,484	-1,402	-1,604	-1,666	-1,377	-1,388	-1,370	-1,426
Debt-free Net Working Capital (DFNWC)	1,171	1,250	-487	-484	-280	-326	-510	-290	-117	-115	-470
Net Working Capital (NWC)	1,125	1,204	-523	-519	-316	-362	-546	-326	-153	-151	-505
Net Nonoperating Expense (NNE)	171	116	-150	117	12	94	436	66	60	-4.86	43
Net Nonoperating Obligations (NNO)	5,689	5,334	5,112	5,389	5,262	5,103	5,221	5,198	4,997	4,809	4,814
Total Depreciation and Amortization (D&A)	225	188	183	166	166	165	166	165	164	149	152
Debt-free, Cash-free Net Working Capital to Revenue	2.94%	2.11%	-30.64%	-26.43%	-25.91%	-30.72%	-32.24%	-26.54%	-26.80%	-26.30%	-27.17%
Debt-free Net Working Capital to Revenue	20.55%	21.19%	-8.45%	-8.62%	-5.18%	-6.24%	-9.86%	-5.59%	-2.25%	-2.22%	-8.95%
Net Working Capital to Revenue	19.75%	20.42%	-9.07%	-9.25%	-5.84%	-6.93%	-10.56%	-6.28%	-2.95%	-2.90%	-9.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.36	$0.91	$0.32	$0.87	$0.35	$0.12	$0.58	$0.67	$0.70	$0.63
Adjusted Weighted Average Basic Shares Outstanding	271.57M	272.27M	271.55M	267.40M	265.10M	262.84M	263.27M	253.65M	251.98M	247.84M	249.03M
Adjusted Diluted Earnings per Share	$0.14	$0.36	$0.91	$0.32	$0.87	$0.35	$0.11	$0.58	$0.66	$0.70	$0.64
Adjusted Weighted Average Diluted Shares Outstanding	272.14M	273.03M	272.59M	267.82M	265.19M	263.83M	263.65M	253.77M	253.73M	247.96M	249.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	272.04M	272.87M	268.19M	265.88M	264.00M	259.14M	254.32M	252.01M	250.60M	242.66M	242.13M
Normalized Net Operating Profit after Tax (NOPAT)	254	232	123	248	255	191	183	229	243	230	210
Normalized NOPAT Margin	16.54%	16.06%	9.01%	19.53%	19.08%	15.20%	13.95%	17.77%	18.34%	17.90%	15.60%
Pre Tax Income Margin	2.98%	7.21%	35.81%	6.80%	21.04%	8.27%	0.86%	14.43%	16.24%	16.14%	18.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	1.79	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	1.61	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	1.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	1.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	206.38%	157.87%	57.46%	57.48%	41.06%	41.50%	62.27%	54.32%	62.05%	52.12%	41.72%
Augmented Payout Ratio	206.38%	157.87%	89.70%	108.13%	86.97%	105.27%	157.04%	141.31%	157.69%	158.59%	106.45%

Financials Breakdown Chart

Key Financial Trends

OpenText’s recent results show improving profitability and cash generation, although the company remains highly leveraged and reliant on substantial non-cash assets. In Q4 fiscal 2026, revenue increased to $1.35 billion, up approximately 2.9% from $1.31 billion in Q4 fiscal 2025. Fiscal 2026 revenue totaled approximately $5.25 billion, about 1.5% above the comparable fiscal 2025 quarterly total provided.

Profitability improved meaningfully. Q4 gross profit rose to $1.01 billion, producing a gross margin of approximately 75.0%, compared with 72.3% in Q4 fiscal 2025. Operating income increased to $319.7 million, and the operating margin expanded to roughly 23.7% from 13.9%. Lower restructuring charges—$18.9 million in Q4 fiscal 2026 versus $79.7 million in Q4 fiscal 2025—also supported the improvement.

Net income attributable to common shareholders was $155.7 million, or $0.64 per diluted share, in Q4 fiscal 2026. Across the four fiscal 2026 quarters provided, net income totaled approximately $643.3 million, well above the approximately $436.0 million recorded across the corresponding fiscal 2025 quarters. However, earnings remain affected by sizable interest and other expenses, making operating performance and cash flow especially important measures for investors.

Cash generation was solid for the year. Fiscal 2026 operating cash flow totaled approximately $1.01 billion, up from roughly $830.6 million across the comparable fiscal 2025 quarters. Q4 operating cash flow of $185.8 million was lower than the $354.6 million generated in Q3, primarily because operating assets and liabilities absorbed $137.1 million of cash. The company also reported $149.0 million of divestiture proceeds in Q4, which made investing cash flow positive for the quarter.

Improving operating margins: Q4 operating margin expanded to approximately 23.7%, aided by stronger gross margins and lower restructuring costs.
Stronger earnings trend: Fiscal 2026 quarterly net income totaled approximately $643.3 million, substantially above the comparable fiscal 2025 total.
Robust operating cash flow: Fiscal 2026 operating cash flow increased to approximately $1.01 billion, providing support for debt reduction, dividends and ongoing investment.
Debt reduction activity: OpenText repaid $460.7 million of debt in Q4 fiscal 2026, following $173.5 million of repayments in Q3. Long-term debt on the latest balance sheet declined to $6.17 billion from $6.34 billion in Q2.
Continued shareholder returns: The company paid $65.4 million in dividends and repurchased $11.8 million of common stock in Q4 fiscal 2026. The quarterly dividend remained $0.275 per share, above the $0.25 paid in fiscal 2024.
Moderate revenue growth: Revenue is higher year over year, but fiscal 2026 growth was only about 1.5% based on the quarterly figures supplied, indicating that margin expansion—not rapid top-line growth—is currently driving results.
Cash balance remains substantial: Cash and equivalents were $1.25 billion at March 31, 2026, although this was slightly below the $1.27 billion reported at December 31, 2025.
High leverage: The latest balance sheet showed approximately $6.21 billion of total debt against $1.25 billion of cash, leaving estimated net debt near $4.96 billion.
Weak short-term coverage: Current liabilities of approximately $2.53 billion exceeded current assets of $2.38 billion at March 31, 2026. Deferred revenue is a significant portion of current liabilities, but the reported current ratio was still below 1.0.
Large goodwill and intangible asset balances: Goodwill of $7.33 billion and intangible assets of $1.58 billion represented roughly two-thirds of total assets. Any impairment could materially reduce reported equity and earnings.

Overall, the statements point to a business that is generating stronger operating profits and cash flow while actively reducing debt. The main risks for shareholders are modest revenue growth, substantial interest-related costs, below-one current-ratio coverage and the concentration of assets in goodwill and intangibles. Investors should watch whether margin gains persist, whether working-capital swings normalize and whether debt reduction continues without weakening the dividend or core operations.

08/16/26 10:51 AM ETAI Generated. May Contain Errors.

Open Text Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Open Text's fiscal year ends in June. Their fiscal year 2026 ended on June 30, 2026.

Over the last 10 years, Open Text's net income changed from $284.50 million in 2016 to $643.26 million in 2026, a change of 126.1%. Find out what analysts predict for Open Text in the coming months.

Open Text's total operating income in 2026 was $1.08 billion, based on the following breakdown:

Total Gross Profit: $3.87 billion
Total Operating Expenses: $2.79 billion

Over the last 10 years, Open Text's total revenue changed from $1.82 billion in 2016 to $5.25 billion in 2026, a change of 187.6%.

Open Text's total liabilities were at $9.09 billion at the end of 2026, a 7.7% decrease from 2025, and a 186.3% increase since 2016.

In the past 10 years, Open Text's cash and equivalents has ranged from $443.36 million in 2017 to $1.69 billion in 2022, and is currently $956.02 million as of their latest financial filing in 2026.

Over the last 10 years, Open Text's book value per share changed from 16.31 in 2016 to 16.54 in 2026, a change of 1.4%.

Related Companies

Financial statements for NASDAQ:OTEX last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Open Text (OTEX) Financials

Financials Breakdown Chart

Key Financial Trends

Open Text Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Open Text (OTEX) Financials

Annual Income Statements for Open Text

Quarterly Income Statements for Open Text

Annual Cash Flow Statements for Open Text

Quarterly Cash Flow Statements for Open Text

Annual Balance Sheets for Open Text

Quarterly Balance Sheets for Open Text

Annual Metrics And Ratios for Open Text

Quarterly Metrics And Ratios for Open Text

Financials Breakdown Chart

Key Financial Trends

Open Text Financials - Frequently Asked Questions

When does Open Text's financial year end?

How has Open Text's net income changed over the last 10 years?

What is Open Text's operating income?

How has Open Text's revenue changed over the last 10 years?

How much debt does Open Text have?

How much cash does Open Text have?

How has Open Text's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools