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Side-by-side financial comparison of ECARX Holdings Inc. (ECX) and OPPENHEIMER HOLDINGS INC (OPY). Click either name above to swap in a different company.

OPPENHEIMER HOLDINGS INC is the larger business by last-quarter revenue ($472.6M vs $323.3M, roughly 1.5× ECARX Holdings Inc.). OPPENHEIMER HOLDINGS INC runs the higher net margin — 15.7% vs -21.4%, a 37.1% gap on every dollar of revenue. On growth, OPPENHEIMER HOLDINGS INC posted the faster year-over-year revenue change (25.9% vs 6.5%). OPPENHEIMER HOLDINGS INC produced more free cash flow last quarter ($183.6M vs $-86.5M).

ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European markets.

Oppenheimer Holdings Inc. is an American multinational independent investment bank and financial services company offering investment banking, financial advisory services, capital markets services, asset management, wealth management, and related products and services worldwide. The company, which once occupied the One World Financial Center building in Manhattan, now bases its operations at 85 Broad Street in New York City.

ECX vs OPY — Head-to-Head

Bigger by revenue
OPY
OPY
1.5× larger
OPY
$472.6M
$323.3M
ECX
Growing faster (revenue YoY)
OPY
OPY
+19.4% gap
OPY
25.9%
6.5%
ECX
Higher net margin
OPY
OPY
37.1% more per $
OPY
15.7%
-21.4%
ECX
More free cash flow
OPY
OPY
$270.0M more FCF
OPY
$183.6M
$-86.5M
ECX

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
ECX
ECX
OPY
OPY
Revenue
$323.3M
$472.6M
Net Profit
$-69.1M
$74.4M
Gross Margin
15.5%
Operating Margin
-20.2%
22.4%
Net Margin
-21.4%
15.7%
Revenue YoY
6.5%
25.9%
Net Profit YoY
12.8%
593.1%
EPS (diluted)
$-0.20
$6.51

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ECX
ECX
OPY
OPY
Q4 25
$472.6M
Q3 25
$424.4M
Q2 25
$323.3M
$373.2M
Q1 25
$367.8M
Q4 24
$375.4M
Q3 24
$373.4M
Q2 24
$303.5M
$330.6M
Q1 24
$353.1M
Net Profit
ECX
ECX
OPY
OPY
Q4 25
$74.4M
Q3 25
$21.7M
Q2 25
$-69.1M
$21.7M
Q1 25
$30.7M
Q4 24
$10.7M
Q3 24
$24.5M
Q2 24
$-79.2M
$10.3M
Q1 24
$26.1M
Gross Margin
ECX
ECX
OPY
OPY
Q4 25
Q3 25
Q2 25
15.5%
Q1 25
Q4 24
Q3 24
Q2 24
22.6%
Q1 24
Operating Margin
ECX
ECX
OPY
OPY
Q4 25
22.4%
Q3 25
7.5%
Q2 25
-20.2%
8.6%
Q1 25
11.2%
Q4 24
4.5%
Q3 24
9.5%
Q2 24
-22.2%
4.8%
Q1 24
10.6%
Net Margin
ECX
ECX
OPY
OPY
Q4 25
15.7%
Q3 25
5.1%
Q2 25
-21.4%
5.8%
Q1 25
8.3%
Q4 24
2.9%
Q3 24
6.6%
Q2 24
-26.1%
3.1%
Q1 24
7.4%
EPS (diluted)
ECX
ECX
OPY
OPY
Q4 25
$6.51
Q3 25
$1.90
Q2 25
$-0.20
$1.91
Q1 25
$2.72
Q4 24
$0.92
Q3 24
$2.16
Q2 24
$-0.23
$0.92
Q1 24
$2.37

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ECX
ECX
OPY
OPY
Cash + ST InvestmentsLiquidity on hand
$86.2M
$38.4M
Total DebtLower is stronger
Stockholders' EquityBook value
$-293.7M
$983.8M
Total Assets
$494.9M
$3.7B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ECX
ECX
OPY
OPY
Q4 25
$38.4M
Q3 25
$38.3M
Q2 25
$86.2M
$37.6M
Q1 25
$36.7M
Q4 24
$33.1M
Q3 24
$32.2M
Q2 24
$108.4M
$33.2M
Q1 24
$27.7M
Total Debt
ECX
ECX
OPY
OPY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
$0
Q3 24
$112.8M
Q2 24
$112.8M
Q1 24
$112.7M
Stockholders' Equity
ECX
ECX
OPY
OPY
Q4 25
$983.8M
Q3 25
$920.3M
Q2 25
$-293.7M
$896.9M
Q1 25
$872.3M
Q4 24
$850.4M
Q3 24
$837.8M
Q2 24
$-198.5M
$812.1M
Q1 24
$801.5M
Total Assets
ECX
ECX
OPY
OPY
Q4 25
$3.7B
Q3 25
$3.8B
Q2 25
$494.9M
$3.7B
Q1 25
$3.6B
Q4 24
$3.4B
Q3 24
$3.4B
Q2 24
$555.0M
$3.3B
Q1 24
$3.3B
Debt / Equity
ECX
ECX
OPY
OPY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
0.00×
Q3 24
0.13×
Q2 24
0.14×
Q1 24
0.14×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ECX
ECX
OPY
OPY
Operating Cash FlowLast quarter
$-82.0M
$188.8M
Free Cash FlowOCF − Capex
$-86.5M
$183.6M
FCF MarginFCF / Revenue
-26.7%
38.8%
Capex IntensityCapex / Revenue
1.4%
1.1%
Cash ConversionOCF / Net Profit
2.54×
TTM Free Cash FlowTrailing 4 quarters
$191.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ECX
ECX
OPY
OPY
Q4 25
$188.8M
Q3 25
$63.4M
Q2 25
$-82.0M
$40.1M
Q1 25
$-91.7M
Q4 24
$-108.2M
Q3 24
$11.4M
Q2 24
$-57.1M
$-115.3M
Q1 24
$-79.0M
Free Cash Flow
ECX
ECX
OPY
OPY
Q4 25
$183.6M
Q3 25
$62.2M
Q2 25
$-86.5M
$38.9M
Q1 25
$-93.4M
Q4 24
$-113.3M
Q3 24
$11.2M
Q2 24
$-64.9M
$-116.7M
Q1 24
$-79.3M
FCF Margin
ECX
ECX
OPY
OPY
Q4 25
38.8%
Q3 25
14.7%
Q2 25
-26.7%
10.4%
Q1 25
-25.4%
Q4 24
-30.2%
Q3 24
3.0%
Q2 24
-21.4%
-35.3%
Q1 24
-22.5%
Capex Intensity
ECX
ECX
OPY
OPY
Q4 25
1.1%
Q3 25
0.3%
Q2 25
1.4%
0.3%
Q1 25
0.5%
Q4 24
1.4%
Q3 24
0.1%
Q2 24
2.6%
0.4%
Q1 24
0.1%
Cash Conversion
ECX
ECX
OPY
OPY
Q4 25
2.54×
Q3 25
2.92×
Q2 25
1.85×
Q1 25
-2.99×
Q4 24
-10.08×
Q3 24
0.47×
Q2 24
-11.23×
Q1 24
-3.03×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ECX
ECX

Segment breakdown not available.

OPY
OPY

Advisory Fees$166.6M35%
Capital Markets Segment$155.5M33%
Other$57.2M12%
Commissions From Sales And Trading$52.9M11%
Bank Deposit Sweep Income$27.7M6%
Mutual Fund Income$8.9M2%
Investment Banking Capital Markets$3.3M1%

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