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OneSpaWorld

OSW Nasdaq Leisure Facilities Financials FY2017–FY2025

OneSpaWorld's revenue rose 7.4% to $961 million in fiscal 2025. Its operating margin was 8.5%, down from 8.7% a year earlier. Free cash flow was $68 million, down 5.0%. It paid out $93 million in dividends and buybacks, 136% of free cash flow. The diluted share count fell 1.2%.

Last close · Oct 23, 2026

$23.86

1.8%
Value it Compare
Revenue Total sales reported in the income statement.
$961M
7.4% vs prior year
Operating margin Operating income as a share of revenue.
8.5%
0.2 pts
Net income Profit after all expenses, interest and tax.
$71.6M
1.8%
Free cash flow Cash from operations minus capital spending.
$68.5M
5.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
12.7%
0.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
30.2x
On $0.79 EPS (TTM)

What OneSpaWorld does

No business description yet.

Legal name
OneSpaWorld Holdings Limited
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-062456
0001758488

Revenue and margins

OneSpaWorld had $961M of revenue in fiscal 2025, up 7.4% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $68.5M in fiscal 2025, 7.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

OneSpaWorld returned $92.9M to shareholders in fiscal 2025, 136% of free cash flow. The diluted share count fell 1.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value OneSpaWorld yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$67.7M and divides by 103.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 30.2x · peers 17.3x · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably OneSpaWorld can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $30.9M$32.1M$27.7M$57.4M$16.3M
Debt incl. finance leases $231M$213M$158M$98.6M$84.0M
Net debt / EBITDA —4.8x1.7x0.4x0.6x
Debt / equity 0.8x0.6x0.4x0.2x0.2x
Interest coverage −3.9x1.0x2.5x7.8x14.4x
Current ratio 1.7x1.7x1.6x2.0x1.9x
Quick ratio 1.2x1.1x1.0x1.5x1.1x
Total assets $689M$717M$706M$746M$707M
Total liabilities $395M$352M$272M$192M$165M
Shareholders' equity $294M$366M$434M$555M$543M
Net debt (− = net cash) $200M$181M$131M$41.2M$67.7M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$7.3M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 10, 2026 Andrew R HeyerDirector Sold 4,781 $26.07 $0.1M Form 4
Aug 7, 2026 Andrew R HeyerDirector Sold 25,219 $26.42 $0.7M Form 4
Aug 6, 2026 Andrew R HeyerDirector Sold 30,000 $26.43 $0.8M Form 4
Jun 15, 2026 Andrew R HeyerDirector Sold 20,000 $26.04 $0.5M Form 4
Jun 11, 2026 Walter Field McLallenDirector Sold 10,500 $24.67 $0.3M Form 4
Jun 8, 2026 Leonard I FluxmanSee Remarks, Director, 10% owner Sold 58,642 $24.14 $1.4M Form 4
Jun 5, 2026 Leonard I FluxmanSee Remarks, Director, 10% owner Sold 57,051 $24.07 $1.4M Form 4
Jun 4, 2026 Leonard I FluxmanSee Remarks, Director, 10% owner Sold 31,431 $24.03 $0.8M Form 4
Jun 3, 2026 Leonard I FluxmanSee Remarks, Director, 10% owner Sold 1,504 $24.01 $0.0M Form 4
May 27, 2026 Leonard I FluxmanSee Remarks, Director, 10% owner Sold 42,883 $24.56 $1.1M Form 4
May 7, 2026 Leonard I FluxmanSee Remarks, Director, 10% owner Sold 8,489 $25.26 $0.2M Form 4
Mar 11, 2026 Walter Field McLallenDirector Sold 6,000 $20.86 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✕ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✓
F-score 4 / 87 / 86 / 8
Accruals ratio −9.3%−0.8%−1.6%
Altman Z'' 1.033.243.68

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
OneSpaWorld OSW $2.4B 7.4% 8.5% 7.1% 12.7% 30.2x 6
Planet Fitness PLNT — 12.1% 29.8% 19.2% 18.4% — — Compare →
United Parks & Resorts PRKS $1.4B −3.6% 22.0% 9.8% 16.1% 11.8x 6 Compare →
Life Time Group LTH $9.5B 14.3% 16.1% −0.7% 8.5% 22.8x 8 Compare →
Six Flags FUN $689M 14.5% −44.4% −4.9% −17.7% — 4 Compare →

8 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY20FY21FY22FY23FY24FY25
Income statement
Revenue $507M $541M $121M $144M $546M $794M $895M $961M
Operating income $38.3M $48.5M −$265M −$52.1M $15.1M $54.2M $78.1M $81.6M
Interest expense — $34.1M $14.7M $13.5M $15.8M $21.4M $10.0M $5.7M
Pretax income $38.5M $14.8M −$287M −$68.1M $53.8M −$4.5M $76.9M $76.1M
Income tax $5.3M $1.1M $0.8M $0.4M $0.6M −$1.5M $4.0M $4.5M
Net income $31.1M $9.9M −$288M −$68.5M $53.2M −$3.0M $72.9M $71.6M
Diluted EPS — — −$3.87 −$0.76 $0.49 −$0.03 $0.69 $0.69
Diluted shares — — 0.07B 0.09B 0.10B 0.10B 0.10B 0.10B
Cash flow
Cash from operations $70.1M $32.4M −$36.5M −$35.1M $24.8M $63.4M $78.8M $83.5M
Capital expenditure $2.7M $5.0M $2.1M $2.9M $4.8M $5.4M $6.7M $15.1M
Free cash flow $67.4M $27.4M −$38.7M −$38.0M $19.9M $58.0M $72.1M $68.5M
Depreciation and amortization $9.8M $10.1M $24.5M $22.5M $22.4M $22.0M $24.3M $25.3M
Stock-based compensation — — $5.0M $10.6M $12.9M $10.1M $9.1M $10.1M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $9.0M $19.0M $75.4M
Dividends paid $0.0M $0.0M $2.4M $0.0M $0.0M $0.0M $8.3M $17.5M
Dividends and buybacks $0.0M $0.0M $2.4M $0.0M $0.0M $9.0M $27.3M $92.9M
Balance sheet
Cash and short-term investments — $15.3M $41.6M $30.9M $32.1M $27.7M $57.4M $16.3M
Total debt — $352M $229M $231M $213M $158M $98.6M $84.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets — $81.0M $82.2M $88.9M $118M $127M $162M $138M
Current liabilities — $43.2M $37.1M $51.9M $69.6M $80.9M $79.4M $72.0M
Inventory $0.0M $32.3M $27.2M $29.5M $39.8M $47.5M $46.7M $58.8M
Property and equipment, net — $16.2M $17.1M $14.1M $14.5M $15.0M $17.7M $27.3M
Total assets — $273M $702M $689M $717M $706M $746M $707M
Total liabilities — $400M $382M $395M $352M $272M $192M $165M
Shareholders' equity $225M −$131M $321M $294M $366M $434M $555M $543M
Margins
Operating margin 7.6% 9.0% −219.2% −36.1% 2.8% 6.8% 8.7% 8.5%
EBITDA margin 9.5% 10.8% −198.9% −20.6% 6.9% 9.6% 11.4% 11.1%
Net margin 6.1% 1.8% −238.2% −47.6% 9.7% −0.4% 8.1% 7.5%
FCF margin 13.3% 5.1% −32.0% −26.4% 3.7% 7.3% 8.1% 7.1%
Returns
Return on capital — — — −8.2% 2.9% 7.7% 12.8% 12.7%
Return on capital employed — — — −8.0% 2.4% 8.5% 12.1% 12.5%
Return on equity — — — −22.3% 16.1% −0.7% 14.7% 13.1%
Return on assets — — — −9.9% 7.6% −0.4% 10.0% 9.9%
Growth
Revenue growth — 6.7% — 19.1% 279.3% 45.4% 12.7% 7.4%
Net income growth — −68.2% — — — −105.6% — −1.7%
EPS growth — — — — — −106.1% — 0.0%
FCF growth — −59.4% — — — 190.7% 24.3% −5.0%
Share count change — — — 21.2% 5.5% 2.9% 7.3% −1.2%
Financial health
Net debt / EBITDA — 5.8x — — 4.8x 1.7x 0.4x 0.6x
Debt / equity — — 0.7x 0.8x 0.6x 0.4x 0.2x 0.2x
Interest coverage — 1.4x −18.0x −3.9x 1.0x 2.5x 7.8x 14.4x
Current ratio — 1.9x 2.2x 1.7x 1.7x 1.6x 2.0x 1.9x
Quick ratio — 1.1x 1.5x 1.2x 1.1x 1.0x 1.5x 1.1x
Capital allocation
Capex / revenue 0.5% 0.9% 1.8% 2.0% 0.9% 0.7% 0.8% 1.6%
Stock comp / revenue — — 4.1% 7.4% 2.4% 1.3% 1.0% 1.1%
Payouts / FCF 0.0% 0.0% — — 0.0% 15.6% 37.9% 135.7%
Quality scores
Piotroski F-score — — — — 5.0 4.0 7.0 6.0
Altman Z'' — — −2.7 −1.2 0.1 1.0 3.2 3.7
Accruals ratio — — — −4.8% 4.0% −9.3% −0.8% −1.6%

Source: SEC EDGAR XBRL filings (CIK 0001758488). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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