Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, office-supply retailer Office Depot (NYSE: ODP) has received the dreaded one-star ranking.

With that in mind, let's take a closer look at Office Depot's business and see what CAPS investors are saying about the stock right now.

Office Depot facts

Headquarters (founded) Boca Raton, Fla. (1986)
Market Cap $459.1 million
Industry Specialty stores
Trailing-12-Month Revenue $11.4 billion
Management Chairman/CEO Neil Austrian
CFO Michael Newman
Return on Equity (average, past 3 years) (10.4%)
Cash/Debt $488.8 million / $678.3 million
Competitors OfficeMax
Staples
Wal-Mart

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 21% of the 617 members who have rated Office Depot believe the stock will underperform the S&P 500 going forward.

Just yesterday, one of those Fools, Kentexacan, succinctly summed up the Office Depot bear case for our community:

This is one of those dead business model shorts (Blockbuster comes to mind) that you could see coming from a mile away and. I kick myself for missing out on this one in real life. ...

Yes they are trading for near their cash value. But they are burning through cash at an incredible rate. ...

Advertising is theoretically supposed to drive revenue. I am not seeing this NASCAR sponsorship equating to driving the revenue line. Take a look at the sales numbers if you so desire.

Overall this is a dead long term business model. [A]s Bob Dylan Said "the times are a changing"

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.