OPPENHEIMER HOLDINGS INC

Listed Company

OPYCIK 0000791963NYSEAcceleratedSecurity Brokers, Dealers & Flotation CompaniesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.64B

Net Income

$148.40M

Total Assets

$3.72B

Equity

$983.82M

Shares Out

—

Op. Cash Flow

$188.75M

Business

Oppenheimer Holdings Inc is a middle-market investment bank and full-service broker-dealer that provides a broad range of financial services to retail, institutional and corporate clients. It offers wealth management and advisory services, retail and institutional brokerage, investment banking and capital markets services, equity and fixed income research, market-making, trust services, asset management, margin lending, proprietary trading and SaaS-based fixed income analytics. Its key business segments include Wealth Management, Capital Markets (Investment Banking, Equities and Fixed Income), Asset Management and Proprietary/Trust operations. The Company distributes services through a domestic financial advisor network, institutional sales and trading desks, investment banking channels and international subsidiaries in Europe, Asia and Israel.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Commissions	464	410	349	370	402
Advisory fees	555	483	416	426	451
Investment banking	266	176	118	128	436
Bank deposit sweep income	115	139	173	105	16
Interest	153	136	105	61	36
Principal transactions, net	50	55	65	21	24
Other	34	34	24	1	29
Total revenue	1,638	1,432	1,249	1,111	1,394
Compensation and related expenses	1,017	937	782	741	887
Communications and technology	106	99	91	85	81
Occupancy and equipment costs	64	64	66	60	60
Clearing and exchange fees	28	28	25	26	22
Interest	87	88	69	24	—
Other	127	111	169	130	110
Total expenses	1,427	1,327	1,202	1,065	1,169
Pre-tax income	211	106	47	46	225
Income tax provision	63	35	16	13	66
Net income	148	71	30	32	159
Net income (loss) attributable to non-controlling interests, net of tax	−444,000	−310,000	93,000	−241,000	0
Net income attributable to Oppenheimer Holdings Inc.	148	72	30	32	159
Basic (in dollars per share)	14.13	6.91	2.81	2.77	12.57
Diluted (in dollars per share)	13.04	6.37	2.59	2.57	11.7
Basic (in shares)	11	10	11	12	13
Diluted (in shares)	11	11	12	13	14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	38	33	29	112	214
Deposits with clearing organizations	108	99	79	78	67
Receivables from brokers, dealers and clearing organizations	260	241	285	206	170
Receivables from customers, net of allowance for credit losses of $131 ($175 in 2024)	1,415	1,269	1,060	1,203	1,221
Income tax receivable	1	1	7	0	—
Securities owned, including amounts pledged of $1,179,503 ($1,015,604 in 2024), at fair value	1,251	1,108	795	499	635
Notes receivable, net	58	68	63	57	—
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $101,962 ($92,390 in 2024)	32	38	44	37	28
Right-of-use lease assets, net of accumulated amortization of $137,005 ($118,325 in 2024)	119	134	141	143	150
Company-owned life insurance	109	99	89	—	—
Intangible assets	35	36	34	32	32
Goodwill	144	144	142	138	138
Other assets	152	113	102	184	206
Total Assets	3,722	3,383	2,875	2,714	3,043
Drafts payable	18	22	9	0	—
Bank call loans	77	252	0	0	70
Payables to brokers, dealers and clearing organizations	398	254	362	550	422
Payables to customers	394	358	369	456	457
Securities sold under agreements to repurchase, net	997	932	640	161	277
Securities sold but not yet purchased, at fair value	176	99	32	53	72
Accrued compensation	374	331	256	239	342
Accounts payable and other liabilities	74	66	83	102	77
Income tax payable	16	4	0	4	14
Lease liabilities	155	173	183	183	192
Deferred tax liabilities, net of deferred tax assets of $50,032 ($48,640 in 2024)	47	42	38	32	44
Total Liabilities	2,725	2,532	2,086	1,894	2,090
Commitments and contingencies (Note 17)	—	—	—	—	—
Common stock	10,000	10,000	10,000	11,000	13,000
Additional paid-in capital	33	30	32	29	—
Retained earnings	947	820	756	764	741
Accumulated other comprehensive income	4	691,000	914,000	1	4
Total Oppenheimer Holdings Inc. stockholders' equity	984	850	789	794	823
Non-controlling interests	13	0	73,000	722,000	2
Total Stockholders' Equity	997	850	789	795	825
Total Liabilities and Stockholders' Equity	3,722	3,383	2,875	2,714	3,043

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of furniture, equipment and leasehold improvements	11	11	10	8	—
Deferred income taxes	5	4	6	−15	−792,000
Amortization of intangible assets	667,000	350,000	0	0	—
Amortization of notes receivable	17	18	16	14	13
Amortization of debt issuance costs	0	170,000	219,000	248,000	250,000
Write-off of debt issuance costs	0	222,000	5,000	61,000	0
Reversal of credit losses	−44,000	−137,000	−5,000	−3	3
Share-based compensation	32	46	17	16	31
Amortization of right-of-use lease assets	26	26	27	27	26
Gain on repurchase of senior secured notes	0	0	−51,000	−235,000	0
Paid in kind interest	−234,000	0	0	—	—
Deposits with clearing organizations	−9	−20	−1	−11	16
Receivables from brokers, dealers and clearing organizations	−19	43	−79	−36	34
Receivables from customers	−146	−209	143	22	−114
Income tax receivable	93,000	6	−7	0	0
Securities purchased under agreements to resell	0	6	−6	935,000	−935,000
Securities owned	−142	−313	−297	136	−24
Notes receivable	−7	−23	−21	−17	−21
Company-owned life insurance	−10	−10	−12	—	—
Other assets	−40	−15	289,000	−3	66
Drafts payable	−3	13	9	0	0
Payables to brokers, dealers and clearing organizations	144	−108	−188	128	162
Payables to customers	36	−11	−87	−483,000	−46
Securities sold under agreements to repurchase	65	291	479	−116	−65
Securities sold but not yet purchased	77	67	−21	−19	−54
Accrued compensation	24	42	13	−107	23
Income tax payable	12	4	−4	−9	4
Accounts payable and other liabilities	−32	−47	−48	−139,000	8
Cash provided by/(used in) operating activities	189	−108	−19	64	228
Purchase of furniture, equipment and leasehold improvements	−5	−5	−17	−16	−8
Acquisitions, net of cash consideration	0	−2	−3	0	0
Proceeds from the settlement of company-owned life insurance	4	4	4	2	2
Cash used in investing activities	−1	−4	−16	−14	−6
Cash dividends paid on Class A non-voting and Class B voting common stock	−8	−7	−6	−7	−19
Issuance of Class A non-voting common stock	0	64,000	75,000	127,000	58,000
Repurchase of Class A non-voting common stock for cancellation	−3	−10	−35	−61	−8
Payments for employee taxes withheld related to vested share-based awards	−10	−7	−6	−2	−5
Contribution from non-controlling interests	14	0	0	0	3
Distribution to non-controlling interests	0	0	−198,000	−90,000	0
Redemption on redeemable non-controlling interests	0	500,000	—	—	—
Redemption on redeemable non-controlling interests	—	—	−26	−104	0
Repurchase of senior secured notes	0	0	−1	−11	0
Redemption of senior secured notes	0	−113	0	0	—
Increase (decrease) in bank call loans, net	−175	252	0	−70	−13
Cash provided by/(used in) financing activities	−182	116	−75	−254	85
Net increase/(decrease) in cash and cash equivalents	5	4	−109	−204	306
Employee share plan issuance	11	14	9	4	7
Fair value of non-cash assets acquired	0	3	7	0	0
Contingent consideration for BondWave LLC	0	0	−1	0	0
Cash paid during the year for interest	87	89	68	23	10
Cash paid during the year for income taxes, net	46	21	21	—	—

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