OneSpaWorld vs United Parks & Resorts
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KIRA’s take AI analyst
I put OneSpaWorld and United Parks & Resorts side by side, using each one’s latest annual report. Here is what stands out:
- United Parks & Resorts is the larger business, with $1.7B of revenue in fiscal 2025 against $961M for OneSpaWorld, about 1.7 times as much.
- OneSpaWorld grew revenue faster (7.4%, against −3.6%).
- United Parks & Resorts kept more of each dollar of sales as operating profit (22.0% operating margin, against 8.5%).
- United Parks & Resorts turned more of its sales into free cash flow (9.8% FCF margin, against 7.1%).
- United Parks & Resorts earned a higher return on the capital invested in it (16.1%, against 12.7%).
- Investors pay more for each dollar of OneSpaWorld’s earnings: a P/E of 30.2x against 11.8x for United Parks & Resorts.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
OneSpaWorld
OSW
3/9
Revenue growth5-year growthNet debt / EBITDA
United Parks & Resorts
PRKS
5/9
Operating marginNet marginFCF marginReturn on capitalShare count change
Side by side
Best in the row
| Latest fiscal year | OSW FY25 | PRKS FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $1.4B |
| Revenue | $961M | $1.7B |
| Free cash flow | $68.5M | $163M |
| Net income | $71.6M | $168M |
| Growth | ||
| Revenue growth | 7.4% | −3.6% |
| 5-year growth | 51.4% | 31.0% |
| Share count change | −1.2% | −8.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 8.5% | 22.0% |
| Net margin | 7.5% | 10.1% |
| FCF margin | 7.1% | 9.8% |
| Return on capital | 12.7% | 16.1% |
| Return on equity | 13.1% | — |
| Balance sheet | ||
| Net debt | $67.7M | $2.1B |
| Net debt / EBITDA | 0.6x | 4.0x |
| Dividends and buybacks | $92.9M | $160M |
| Valuation & quality | ||
| P/E | 30.2x | 11.8x |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.