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How Oppenheimer Holdings (OPY) makes money
Oppenheimer Holdings (OPY) made $382M of revenue in the third quarter 2026 (Q3 2026), -10% from a year earlier. Advisory Fees brought in $155M (41%); Commissions from sales and trading brought in $107M (28%); Other revenues brought in $45.6M (12%). Of every dollar of revenue, 2¢ was left as operating profit, 1¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Advisory Fees | $155M | 40.6% | +6% | +15% |
| Commissions from sales and trading | $107M | 28.0% | -10% | -5% |
| Other revenues | $45.6M | 11.9% | -30% | -16% |
| Bank Deposit Sweep Income | $25.6M | 6.7% | +2% | -10% |
| Investment banking - advisory | $20.5M | 5.4% | -65% | -8% |
| Investment Banking, Capital Markets | $12.7M | 3.3% | -51% | -77% |
| Mutual fund and insurance income | $9.1M | 2.4% | +6% | +8% |
| Other | $6.9M | 1.8% | -2% | -26% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $382M | 100.0% |
| Operating profit | $8.8M | 2.3% |
| Income tax | $3.4M | 0.9% |
| Net earnings | $5.4M | 1.4% |
| Operating cash flow | $132M | 34.6% |
| Free cash flow | $129M | 33.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $382M | -10% |
| Q2 2026 | $455M | +22% |
| Q1 2026 | $445M | +21% |
| Q4 2025 | $473M | +26% |
| Q3 2025 | $424M | +14% |
| Q2 2025 | $373M | +13% |
| Q1 2025 | $368M | +4% |
From Oppenheimer Holdings' 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Oppenheimer Holdings make money?
Oppenheimer Holdings (OPY) made $382M of revenue in the third quarter 2026 (Q3 2026), -10% from a year earlier. Advisory Fees brought in $155M (41%); Commissions from sales and trading brought in $107M (28%); Other revenues brought in $45.6M (12%). Of every dollar of revenue, 2¢ was left as operating profit, 1¢ was left as net earnings.
What is Oppenheimer Holdings' biggest business?
Advisory Fees: $155M in the third quarter 2026, 41% of revenue, +15% from a year earlier.
What is Oppenheimer Holdings' profit margin?
Net earnings were $5.4M, 1.4% of revenue, in the third quarter 2026; the operating margin was 2.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.