OSWNasdaqServices-Membership Sports & Recreation ClubsFiscal year ends December 31
ONESPAWORLD HOLDINGS Ltd
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$23.69−0.16 (-0.67%)
Close on Oct 19, 2026
- Market cap
- $2.43B
- P/E (TTM)
- 30.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Operating margin
8.5%+227.6 pts over 5 years
Net margin
7.5%+245.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.4% | +20.7% | +51.4% | – | |
| Operating income | +4.6% | +75.4% | – | – | |
| Net income | -1.7% | +10.4% | – | – | |
| EPS, diluted | 0.0% | +12.1% | – | – | |
| Free cash flow | -5.0% | +50.9% | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -63.8% | 13.1% | |
| Return on assets | – | -35.4% | 9.9% | |
| Current ratio | – | 2.22 | 1.91 | |
| Debt to equity | – | 0.72 | 0.15 | |
| Net debt to EBITDA | – | -0.78× | 0.63× | |
| Interest coverage | – | -18.0× | 14.4× | |
| Capex to revenue | 0.5% | 1.8% | 1.6% | |
| Diluted shares | – | 74M | 104M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Onespaworld generated $285.56M from operations and spent $164.19M on capital expenditure, dividends and share buybacks. 21% of that went back into the business.
Generated
$285.56M
Used
$164.19M
Capital expenditure$34.92M21%Dividends$25.80M16%Share buybacks$103.47M63%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.5%
×Asset turnover1.32×
×Equity multiplier1.32×
=Return on equity, FY202513.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.5% | 1.32× | 1.32× | 13.1% |
| FY2024 | 8.1% | 1.23× | 1.47× | 14.7% |
| FY2023 | -0.4% | 1.12× | 1.78× | -0.7% |
| FY2022 | 9.7% | 0.78× | 2.13× | 16.1% |
| FY2021 | -47.6% | 0.21× | 2.26× | -22.3% |
| FY2020 | -238.1% | 0.15× | 1.80× | -63.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$71.62M
- Cash generatingOperating cash flow above zero$83.52M
- Return on assets improvedROA up on the prior year10.3% → 9.6%
- Earnings backed by cashOperating cash flow above net income$83.52M vs $71.62M
- Less leverageLong-term debt to assets fell12.5% → 11.9%
- Better liquidityCurrent ratio rose2.03 → 1.91
- No dilutionShare count did not rise105M → 104M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.27 → 1.29