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ValueScreener company report

Open Text Corporation (OTEX)

NASDAQ / Technology / Software - Application

Share price

25.83 USD Market dataClose of Oct 15, 2026

Market capitalisation

6.27B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Aug 6, 2026
Ratios computed
Oct 15, 2026
Filed years
19, FY2007 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

9.0% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

10.01x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

12.5% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 2.29B USDFY2017 Net income: 1.03B USDFY2018 Revenue: 2.82B USDFY2018 Net income: 242.2M USDFY2019 Revenue: 2.87B USDFY2019 Net income: 285.5M USDFY2020 Revenue: 3.11B USDFY2020 Net income: 234.2M USDFY2021 Revenue: 3.39B USDFY2021 Net income: 310.7M USDFY2022 Revenue: 3.49B USDFY2022 Net income: 397.1M USDFY2023 Revenue: 4.48B USDFY2023 Net income: 150.4M USDFY2024 Revenue: 5.77B USDFY2024 Net income: 465.1M USDFY2025 Revenue: 5.17B USDFY2025 Net income: 435.9M USDFY2026 Revenue: 5.25B USDFY2026 Net income: 643.0M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
7 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 10.01x at the close of 2026-10-15 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 10.00x and 15.00x.

Today, against the Software - Application industry (100 companies), 10.01x sits at the 16th percentile; the middle half of that group runs from 15.62x to 50.75x.

Is it good

Return on invested capital was 9.0% in FY2026, in the band labelled "Around the cost of capital" (8.0% to 12.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Software - Application industry (47 companies), 9.0% sits at the 46th percentile; the middle half of that group runs from 1.3% to 18.7%.

Is it safe

Debt to equity was 1.49 in FY2026, in the band labelled "Leveraged" (1.00 to 2.00), on lines anchored on Graham's defensive-investor criteria.

Today, against the Software - Application industry (98 companies), 1.49 sits at the 85th percentile; the middle half of that group runs from 0.03 to 0.99.

Year by year against peers
Whether Open Text Corporation's return on invested capital stayed above the median of the Software - Application industry, year by year. (FY2023 to FY2025, 3 fiscal years of Open Text Corporation with a comparable figure)
The direction
Which way Open Text Corporation's return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Open Text Corporation)
What could explain it
What in Open Text Corporation's filed statements could explain the movements. (7 readings drawn from the statement lines Open Text Corporation filed)
What to check next
What to check next on Open Text Corporation, and where in its filings. (2 questions for Open Text Corporation)
In one paragraph
One paragraph on Open Text Corporation's returns, cash, balance sheet and price. (14 of sixteen figures read for Open Text Corporation)

These are OTEX’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research OTEXPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Aug 6, 2026, accession 0001002638-26-000068.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Open Text Corporation: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax9.0% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Return on equity16.0% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Return on capital employed, pre-tax10.3% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Return on assets4.9% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Gross margin73.7% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Operating margin20.6% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Net margin12.3% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
OTEX 12.3%
YOU 12.1%PCTY 15.2%QTWO 6.5%RNG 1.7%LYFT 45.0%
1.7%45.0%
Net margin: OTEX against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Open Text Corporation: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.49 ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Current ratio0.81 ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Quick ratio0.81 ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Altman Z-score1.27 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Net debt5.02B ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Total assets 13.11BTotal liabilities 9.09BShareholders' equity 4.01BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Open Text Corporation owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Aug 6, 2026, 0001002638-26-000068).

Open Text Corporation: balance sheet position
Total assets13.11B FiledFY2026 10-K, filed Aug 6, 2026
Total liabilities9.09B FiledFY2026 10-K, filed Aug 6, 2026
Shareholders' equity4.01B FiledFY2026 10-K, filed Aug 6, 2026
Cash956.0M FiledFY2026 10-K, filed Aug 6, 2026
Total debt5.97B FiledFY2026 10-K, filed Aug 6, 2026
Net debt5.02B
Current ratio0.81
Debt to equity1.49
  • Interest cover: FY2026: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Open Text Corporation: what the market charges, each with its source
FigureValue, source and document
Price to earnings10.01x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
P/E on trailing twelve months10.01x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.60x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Price to sales1.23x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Enterprise value to EBIT10.58x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Price to earnings over growth0.56 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Diluted earnings per share2.58 USD FiledFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Graham number30.57 USD ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068

We publish no fair value or price target of our own. Value OTEX on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Open Text Corporation today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Open Text Corporation: valuation
Share price25.83 USD
Market capitalisation6.27B USD
Enterprise value to EBITDAn/a
Graham number30.57 USD
Diluted earnings per share, FY20262.58 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 7.43x, median 34.80x, high 151.27x, latest 10.01x. 2,523 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Open Text Corporation

  1. Clear Secure, Inc. (YOU)Market cap 4.63B USD
  2. Paylocity Holding Corporation (PCTY)Market cap 8.82B USD
  3. Q2 Holdings, Inc. (QTWO)Market cap 3.88B USD
  4. RingCentral, Inc. (RNG)Market cap 5.89B USD
  5. Lyft, Inc. (LYFT)Market cap 6.50B USD

Same industry (Software - Application) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Open Text Corporation: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield12.5% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Free cash flow807.5M USD ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Free cash flow margin15.4% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Dividend yield4.3% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Payout ratio41.7% ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
FY2017 Free cash flow: 360.8M USDFY2017 Net income: 1.03B USDFY2018 Free cash flow: 602.8M USDFY2018 Net income: 242.2M USDFY2019 Free cash flow: 812.4M USDFY2019 Net income: 285.5M USDFY2020 Free cash flow: 881.8M USDFY2020 Net income: 234.2M USDFY2021 Free cash flow: 812.4M USDFY2021 Net income: 310.7M USDFY2022 Free cash flow: 888.7M USDFY2022 Net income: 397.1M USDFY2023 Free cash flow: 655.4M USDFY2023 Net income: 150.4M USDFY2024 Free cash flow: 808.4M USDFY2024 Net income: 465.1M USDFY2025 Free cash flow: 687.4M USDFY2025 Net income: 435.9M USDFY2026 Free cash flow: 807.5M USDFY2026 Net income: 643.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Open Text Corporation: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
10.01xFY2026Oct 15, 2026
1.60xFY2026Oct 15, 2026
10.58xFY2026Oct 15, 2026
12.5%FY2026Oct 15, 2026
9.0%FY2026Aug 6, 2026
4.3%FY2026Oct 15, 2026
1.49FY2026Aug 6, 2026
0.81FY2026Aug 6, 2026
1.23xFY2026Oct 15, 2026
0.56FY2026Oct 15, 2026
1.27FY2026Oct 15, 2026
-2.28FY2026Aug 6, 2026
9/9FY2026Aug 6, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 19 filed fiscal years on record, FY2007 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports Open Text Corporation filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Open Text Corporation: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20265.25B1.08B643.0M2.58807.5M20.6%16.0%10-K, Aug 6, 20260001002638-26-000068
FY20255.17B892.7M435.9M1.65687.4M17.3%11.1%10-K, Aug 7, 20250001002638-25-000053
FY20245.77B887.1M465.1M1.71808.4M15.4%11.1%10-K, Aug 1, 20240001002638-24-000052
FY20234.48B516.3M150.4M0.56655.4M11.5%3.7%10-K, Aug 3, 20230001002638-23-000022
FY20223.49B644.8M397.1M1.46888.7M18.4%9.8%10-K, Aug 5, 20220001002638-22-000029
FY20213.39B740.9M310.7M1.14812.4M21.9%7.6%10-K, Aug 5, 20210001002638-21-000029
FY20203.11B503.5M234.2M0.86881.8M16.2%5.8%10-K, Aug 6, 20200001002638-20-000026
FY20192.87B567.0M285.5M1.06812.4M19.8%7.3%10-K, Aug 1, 20190001002638-19-000014
FY20182.82B506.7M242.2M0.91602.8M18.0%6.5%10-K, Aug 2, 20180001002638-18-000022
FY20172.29B354.7M1.03B4.01360.8M15.5%29.0%10-K, Aug 3, 20170001002638-17-000032
  • Revenue, compound annual growth FY2017 to FY2026: 9.6%
  • Earnings, compound annual growth FY2017 to FY2026: -5.1%
  • Earnings per share, compound annual growth FY2017 to FY2026: -4.8%
  • Free cash flow, compound annual growth FY2017 to FY2026: 9.4%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Open Text Corporation: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.28 ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Piotroski F-score9/9 ComputedFY2026 10-K, filed Aug 6, 2026, 0001002638-26-000068
Named tests met7 of 30 Computed
Beta0.93 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 7 met, 23 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Dividends and buybacks; ROIC at or above WACC; P/E times P/B (Benjamin Graham); Low P/S, rising earnings (James O'Shaughnessy); Cash-covered dividend; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Figures we could not read(3)
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 3 figures could not be read on this company: EV/EBITDA, Interest Coverage, Price Tangible Book.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.