OneSpaWorld Holdings Ltd (OSW)

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.

Symbol
OSW
Exchange
Nasdaq
Sector
Consumer Cyclical
Industry
Leisure
Market cap
$2.30B
52 week range
19.06 - 29.25

Valuation

Share price
$22.26 (close of 2026-09-23)
P/E (TTM)
28.58x
Price to book
3.96x
Price to free cash flow
29.46x
Enterprise value
$2.35B
Book value per share
$5.71

Price performance

PeriodChange
1 day-1.24%
5 days+2.58%
1 month-16.57%
3 months-20.78%
6 months+2.72%
Year to date+7.33%
1 year+2.87%
3 years+102.00%
5 years+123.27%
All time+129.72%

Profitability and growth

Return on equity
13.20%
Return on invested capital
12.43%
Return on assets
10.13%
Return on capital employed
12.85%
Gross margin
10.37%
Net margin
7.45%
EBITDA margin
11.13%
Revenue growth
7.37%
Net income growth
-1.71%
Free cash flow growth
-5.01%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.39%
Current ratio
2.91x
Net debt to EBITDA
0.43x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$961.00M
Cost of revenue
$861.30M
Gross profit
$99.70M
EBITDA
$106.97M
Net income
$71.62M
Earnings per share
$0.69
Shares outstanding
103.19M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$961.00M$99.70M$71.62M$0.69
2024-12-31$895.02M$96.89M$72.86M$0.70
2023-12-31$794.04M$71.28M$-2.97M$-0.03
2022-12-31$546.26M$30.91M$53.16M$0.57
2021-12-31$144.03M-$-68.52M$-0.76
2020-12-31$120.92M-$-287.98M$-3.87
2018-12-31$540.78M$58.46M$9.89M$0.00
2017-12-31$506.69M$47.52M$31.12M$0.00

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3110.37%7.45%13.20%12.43%
2024-12-3110.83%8.14%13.14%12.15%
2023-12-318.98%-0.37%-0.69%9.39%
2022-12-315.66%9.73%14.53%2.59%
2021-12-31--47.57%-23.31%-10.21%
2020-12-31--238.15%-89.76%-52.09%
2018-12-3110.81%1.83%-7.75%22.64%
2017-12-319.38%6.14%13.81%14.66%

Cash and debt by year

Period endCashDebt
2025-12-31$16.31M$83.97M
2024-12-31$57.44M$93.56M
2023-12-31$27.70M$158.21M
2022-12-31$32.06M$210.70M
2021-12-31$30.94M$228.68M
2020-12-31$41.55M$229.43M
2018-12-31$15.30M$352.44M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$68.45M$10.09M
2024-12-31$72.06M$9.07M
2023-12-31$57.96M$10.14M
2022-12-31$19.94M$12.89M
2021-12-31$-37.97M$10.65M
2020-12-31$-38.68M$4.95M
2018-12-31$27.40M-
2017-12-31$67.44M-

Dividend history

Most recent payment
2026-08-19
Paid in the last twelve months
$0.20
Payment dateDividend per share
2026-08-19$0.05
2026-05-20$0.05
2026-03-11$0.05
2025-11-19$0.05
2025-08-20$0.04
2025-05-21$0.04
2025-03-12$0.04
2024-11-20$0.04

Investor relations

Next earnings report

Next confirmed report
2026-11-04
Consensus EPS estimate
$0.29

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-29Jun/2026$0.27
2026-04-29--
2026-02-18--
2025-10-29--
2025-07-30--
2025-04-30--
2025-02-19--
2024-10-30--

Filings and sources

Company website
onespaworld.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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