OneSpaWorld Holdings Limited OSW R2K

Consumer Cyclical · Leisure · Bahamas

OneSpaWorld Holdings Limited operates health and wellness centers onboard cruise ships and at destination resorts in the United States and internationally. It offers massage and body care services and therapies, and aesthetics treatments; medi-spa services; and acupuncture, electric stimulation acupuncture, LED therapy, cupping, posture and gait analysis, and therapy for recovery. The company also provides fitness centers, and personalized training services and consultation; personal nutritional and dietary consultation, weight management, nutrition coaching and detoxification; hot and cold hydro-therapies and related amenities, such as thermal loungers, infrared saunas, snow rooms, laconiums, caldarium chambers, and hammams, as well as cold plunge pools, large therapeutic jacuzzis, and rooms surrounding occupants with layers of body cleansing salt crystals. In addition, the company offers products under the ELEMIS, Grown Alchemist, Kerastase, Keratin Complex, Thermage, Dysport, GoodFeet arch supports, Hyperice, and Megawhite teeth whitening brands. OneSpaWorld Holdings Limited was founded in 2017 and is based in Nassau, Bahamas.

Market & Price

Market Cap

$2.41B

Current Price

$23.75

High / Low (52W)

$25.27 / $18.39

Beta

0.95

Valuation

Stock P/E

31.67

Industry PE

22.37

Forward P/E

18.32

PEG Ratio

Book Value

$5.53

Price to Book

4.29

P/S

2.44

EV/EBITDA

20.77

Dividend Yield

0.84%

Profitability & Returns

ROCE

12.88%

ROE

14.22%

ROA

8.27%

Profit Margin

7.85%

Op Margin

9.23%

EPS (Latest Qtr)

$0.21

EPS (TTM)

$0.75

Balance Sheet & Liquidity

Debt/Equity

0.16

Quick Ratio

1.15

Current Ratio

2.52

Debt

$92.61M

Total Assets

$707.10M

Current Assets

$137.67M

Working Capital

$65.72M

Ownership

Promoter Holding

3.80%

Chg in Prom Hold

FII / Inst Holding

111.01%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$2.49B

Total Revenue (TTM)

$989.00M

EBITDA

$119.75M

Free Cash Flow

$39.62M

Operating Cash Flow

$82.51M

Shares Outstanding

101.51M

Gross Margin

13.18%

Payout Ratio

24.00%

Growth (CAGR)

Revenue 5Y

20.72%

Profit 5Y

10.45%

Revenue (YoY)

12.70%

Earnings (YoY)

43.30%

PROS

Compounding revenue at 20.7% over 5 years.
Profit CAGR of 10.4% over 5 years.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Cyclical).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	OSW OneSpaWorld Holdings Limited R2K	23.75	31.67	$2.41B	0.84%	12.88%	14.22%	20.72%	10.45%
2	AMZN Amazon.com, Inc. NDXSPXAI	270.64	31.65	$2.91T	-	16.60%	24.29%	11.73%	984.47%
3	TSLA Tesla, Inc. NDXSPXAI	435.79	399.81	$1.64T	-	5.29%	4.90%	5.19%	-32.94%
4	HD The Home Depot, Inc. SPX	317.14	22.52	$316.23B	2.94%	28.92%	128.38%	1.52%	-6.11%
5	MCD McDonald's Corporation SPX	279.20	23.04	$198.37B	2.66%	22.63%	-	5.06%	11.50%
6	TJX The TJX Companies, Inc. SPX	154.75	30.11	$171.12B	1.24%	32.91%	61.25%	6.53%	16.24%
7	BKNG Booking Holdings Inc. NDXSPX	167.43	22.09	$129.74B	0.96%	67.24%	-	16.35%	20.90%
8	LOW Lowe's Companies, Inc. SPX	214.36	18.12	$120.26B	2.24%	29.62%	-	-3.85%	1.11%
9	PDD PDD Holdings Inc. NDX	84.44	8.87	$120.19B	-	28.69%	25.40%	49.00%	45.85%

Quarterly Results

Figures in USD.

Metric	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	118.45M	159.44M	144.90M	-	114.31M	998.00K	1.79M	-	5.59M	9.15M	43.63M	87.66M	127.38M	162.29M	182.46M	200.51M	216.27M	211.23M	224.89M	241.70M	-	219.63M	240.73M	258.52M	242.13M	247.63M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	183.45M	201.23M	214.94M	202.23M	206.13M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36.18M	39.49M	43.58M	39.89M	41.50M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19.34M	17.36M	17.10M	17.86M	18.63M
Operating Income	11.67M	12.40M	12.73M	11.72M	-14.94M	8.10M	8.34M	5.96M	-193.15M	-27.42M	-19.37M	-25.07M	-18.89M	-16.97M	-12.16M	-6.42M	1.02M	9.83M	11.16M	13.44M	16.95M	16.98M	18.84M	25.01M	-	16.84M	22.13M	26.48M	22.04M	22.87M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23.02M	28.38M	32.71M	23.00M	29.60M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.15M	1.40M	1.38M	1.74M	1.17M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15.69M	20.73M	24.92M	14.77M	21.70M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	419.00K	792.00K	578.00K	2.71M	367.00K
Net Income	2.88M	2.65M	2.52M	1.83M	-25.46M	3.61M	2.36M	1.14M	-198.66M	-31.41M	-22.45M	-27.98M	-45.57M	305.00K	-12.34M	-6.32M	55.89M	5.91M	-15.90M	-3.18M	23.41M	21.17M	15.76M	21.55M	-	15.27M	19.94M	24.34M	12.06M	21.33M
Diluted EPS	-	-	-	-	-	0.05	0.03	0.01	-3.23	-0.31	-0.56	-0.33	-0.52	-0.04	-0.14	-0.07	0.46	0.06	-0.17	-0.03	0.16	0.21	0.15	0.20	-	0.15	0.19	0.23	0.12	0.21

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2017	Dec 2018	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	506.69M	540.78M	120.92M	-	546.26M	794.04M	895.02M	961.00M
Cost of Revenue	-	-	-	-	462.69M	667.00M	745.55M	801.85M
Gross Profit	-	-	-	-	83.57M	127.04M	149.46M	159.15M
Operating Expenses	-	-	-	-	68.43M	70.74M	71.03M	71.66M
Operating Income	38.30M	48.52M	-265.00M	-	15.14M	56.30M	78.44M	87.48M
EBITDA	-	-	-	-	91.89M	38.94M	111.18M	107.11M
Interest Expense	-	-	-	-	15.76M	21.39M	10.05M	5.67M
Pretax Income	-	-	-	-	53.78M	-4.50M	76.86M	76.11M
Tax Provision	-	-	-	-	624.00K	-1.53M	3.99M	4.49M
Net Income	31.12M	9.89M	-287.98M	-	53.16M	-2.97M	72.86M	71.62M
Diluted EPS	-	-	-3.87	-	0.49	-0.03	0.69	0.69

Compounded Sales Growth

5 Years:	20.72%
1 Year:	12.70%

Compounded Profit Growth

5 Years:	10.45%
1 Year:	43.30%

Stock Price Performance

1 Year:	+27.05%
6 Months:	+14.87%
3 Months:	+10.81%
1 Month:	-4.14%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2016	Dec 2017	Dec 2018	Mar 2019	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	272.66M	-	923.67M	702.28M	-	717.43M	706.14M	746.42M	707.10M
Current Assets	-	-	-	-	-	-	-	117.89M	126.72M	161.50M	137.67M
Cash & Equivalents	-	-	15.30M	14.60M	13.86M	41.55M	-	32.06M	27.70M	57.44M	16.31M
Inventory	-	-	-	-	-	-	-	39.84M	47.50M	46.75M	58.84M
Receivables	-	-	-	-	-	-	-	33.56M	40.78M	46.26M	47.93M
Total Liabilities	-	-	400.24M	-	277.30M	381.45M	-	351.63M	272.07M	191.93M	164.52M
Current Liabilities	-	-	43.24M	-	51.41M	37.08M	-	69.56M	80.86M	79.41M	71.95M
Long Term Debt	-	-	352.44M	-	221.41M	229.43M	-	210.70M	158.21M	93.56M	83.97M
Total Debt	-	-	-	-	-	-	-	227.13M	170.63M	112.74M	94.36M
Total Equity	244.86M	225.28M	-131.17M	-	638.24M	320.83M	-	365.81M	434.07M	554.50M	542.58M
Shares Outstanding	-	-	-	-	-	-	-	92.97M	99.73M	104.55M	101.39M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2017	Dec 2018	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	70.12M	32.39M	-36.55M	-	24.76M	63.38M	78.80M	83.52M
Investing Cash Flow	-2.68M	-4.98M	-2.13M	-	-4.83M	-5.42M	-6.74M	-16.72M
Financing Cash Flow	-65.50M	-20.56M	68.55M	-	-18.72M	-62.66M	-42.21M	-107.92M
Capital Expenditure	-	-	-	-	-4.83M	-5.42M	-6.74M	-15.07M
Free Cash Flow	-	-	-	-	19.94M	57.96M	72.06M	68.45M
Net Change in Cash	-	-	-	-	1.22M	-4.70M	29.85M	-41.11M
Share Buybacks	-	-	-	-	-	9.04M	18.99M	75.44M
Dividends Paid	-	-	-	-	-	-	8.33M	17.46M

Ratios (Annual)

Figures in %.

Metric	Dec 2017	Dec 2018	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	15.3%	16.0%	16.7%	16.6%
Operating Margin %	7.6%	9.0%	-219.1%	-	2.8%	7.1%	8.8%	9.1%
Net Margin %	6.1%	1.8%	-238.1%	-	9.7%	-0.4%	8.1%	7.5%
ROE %	13.8%	-7.5%	-89.8%	-	14.5%	-0.7%	13.1%	13.2%
ROCE %	-	21.1%	-39.8%	-	2.3%	9.0%	11.8%	13.8%

Shareholding Pattern

Insiders

3.80%

Institutions

111.01%

Public Float

115.39%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Ariel Investments, LLC	15.20%	15.43M	$366.52M
2	Blackrock Inc.	9.79%	9.94M	$236.09M
3	Nomura Asset Management International Inc	4.40%	4.47M	$106.05M
4	Bank of America Corporation	3.93%	3.99M	$94.70M
5	Reinhart Partners, LLC	3.83%	3.88M	$92.26M
6	State Street Corporation	3.76%	3.82M	$90.62M
7	Channing Capital Management, LLC	3.73%	3.78M	$89.87M
8	Victory Capital Management Inc.	3.67%	3.72M	$88.39M
9	Geode Capital Management, LLC	2.48%	2.52M	$59.77M
10	FMR, LLC	2.38%	2.42M	$57.37M

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OSW · Consumer Cyclical