Foreign exchangenegative · 5 filings
“In particular, the amount of cash and cash equivalents that we report in U.S.”10-K · Aug 6, 2026 ↗
Open Text Corporation
OTEX
Market read
Open Text Corporation's current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 21 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 13 directly disclosed connections are confirming.
What changed
- Revenue increased 1.5% versus the comparable filing period.
Company-0.0% todayVolume comparison unavailable
Market group0 of 21 activeInformation Technology Services · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- OpenText linked higher sales and marketing costs to investments in sales employees and commissions from increased large-deal volumes in License and Cloud contracts.
Invalidation: The isolated read changes if OTEX's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 21 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 13 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 1.5% versus the comparable filing period.
- Operating margin improved 3.4 percentage points.
- Net income increased 47.5% versus the comparable filing period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- OpenText linked higher sales and marketing costs to investments in sales employees and commissions from increased large-deal volumes in License and Cloud contracts.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements198
Verified relationships12
Evidence supporting the case
- Operating margin changed +3.4 percentage points in the latest annual period.
- Net margin changed +3.8 percentage points in the latest annual period.
Evidence challenging the case
- Foreign exchange has repeated adverse evidence across 5 filings.
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
Questions before a position
- P/E is 89% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 80% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
22.626m-5.7%12m-33.9%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-06-30$3.5B+3.2%$1.46-0.6%
2023-06-30$4.5B+28.4%$0.56-0.5%
2024-06-30$5.8B+28.6%$1.71+0.8%
2025-06-30$5.2B-10.4%$1.65-3.3%
2026-06-30$5.2B+1.5%$2.58-5.4%
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsnegative · 5 filings
“Additionally, the Company has engaged in various restructuring activities over the past several years, primarily due to acquisitions and most recently in response to our return to office planning, that have resulted in costs associated with reductions in head…”10-K · Aug 6, 2026 ↗
Supply chain and availabilitymixed · 5 filings
“As such, for derivative instruments designated as net investment hedges, changes in fair value of the designated hedging instruments attributable to fluctuations in the foreign currency spot exchange rates are initially recorded as a component of currency tra…”10-Q · May 7, 2026 ↗
Demand and volumemixed · 2 filings
“Enterprise Cloud Bookings growth increased due to a larger pipeline of deals and higher conversion rates.”10-Q · May 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.1× · EV/sales 2.0×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
22.62-0.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for OTEX. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
Fundamentals strengthened in the latest filing
10-K filed 2026-08-06 against the comparable filing from 2025-08-07.
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationdiscount
Capital and cash conversion
Reported investment and cash context
- Capital spending YoY
- +39.2%
- Capital spending / revenue
- +3.8%
- Free-cash-flow margin
- +15.4%
- FCF margin change
- +2.1 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 1.5% versus the comparable filing period.
- Operating margin improved 3.4 percentage points.
- Net income increased 47.5% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“Change between Fiscal Years increase (decrease) (In thousands) 2026 and 2025 2025 and 2024 Payroll and payroll-related benefits $ 64,097 $ (71,022) Commissions 34,041 (13,673) Contract labour and consulting (3,375) (4,250) Share-based compensation (6,872) (8,851) Travel and communication 6,794 (2,005) Marketing expenses (3,470) 1,781 Facilities (7,185) (7,712) Credit loss expense (recovery) (2,283) 4,269 Other miscellaneous (5,214) (2,174) Total change in sales and marketing expenses $ 76,533 $ (103,637) Sales and marketing expenses increased by $76.5 million during the year ended June 30, 2026, as compared to the prior fiscal year, primarily driven by investments in sales employees and hig...”
“Cash flows provided by investing activities increased by $270.7 million during the year ended June 30, 2026, as compared to the same period in the prior fiscal year primarily due to cash consideration received from divestitures during Fiscal 2026 of $311.9 million, a payment of $11.7 million made in the prior year related to working capital net settlement on the AMC Divestiture and a payment of $10.4 million related to the termination of certain of our outstanding 5-year EUR/USD cross currency swaps in the prior year.”
“This is primarily due to the net impact of the following activities: (i) $613.0 million increase in prepayments and repayments of long-term debt The increase in cash flows used in financing activities above was partially offset by the following decreases: (i) $74.6 million related to cash used in the repurchases of Common Shares and treasury stock; (ii) $21.0 million related to higher proceeds from the issuance of Common Shares from the exercise of options and the ESPP; and (iii) $29.5 million due to net change in TSA obligations driven by cash collections for certain transition services performed by the Company related to the divestitures.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind OTEX
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ACNAccenture plcpartnerAug 7, 2025 ▾
“Our GSIs include Accenture plc, Capgemini Technology Services SAS, Deloitte Consulting LLP, Hewlett Packard Enterprises and Tata Consultancy Services (TCS).”
AMZNAmazon.com, Inc.partnerAug 7, 2025 ▾
“Services OpenText provides a range of customer solutions through professional and managed services, whether off-cloud, in the OpenText Cloud, in hybrid scenarios or other clouds, including our partners: Google Cloud Platform, Amazon Web Services (AWS) and Mic…”
CRMSalesforce, Inc.partnerAug 7, 2025 ▾
“Salesforce.com Corporation (Salesforce) : The company-to-company partnership between OpenText and Salesforce is focused on growing a full portfolio of Information Management solutions to complement the Salesforce ecosystem by uniting the structured and unstru…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
OTEX is currently a Follower in the organic co-movement group Information Technology Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.