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OneSpaWorld Holdings Limited

OSWConsumer CyclicalNASDAQ

Leisure · Last scanned May 30, 2026

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Financials · Annual
Revenue
$961.0M
+7.4% YoY
Net Income
$71.6M
-1.7% YoY
EBITDA
$107.1M
-3.7% YoY
Free Cash Flow
$39.6M

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About OneSpaWorld Holdings Limited

OneSpaWorld Holdings Limited operates health and wellness centers onboard cruise ships and at destination resorts in the United States and internationally. The $2.41B market capitalization puts OSW squarely in mid-cap range for its industry. 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.

Key stats
Market Cap$2.41B
P/E (TTM)31.67
Fwd P/E18.32
EPS$0.75
Beta0.95
52W Change+25.3%
Dividend Yield0.84%
ROE14.2%
Analysis

OneSpaWorld Holdings Limited carries $92.6M in total debt against $16.3M in cash reserves — debt is roughly 5.7x the cash position. Managing this leverage effectively will be important for long-term financial stability. Free cash flow comes in at $39.6M, providing flexibility for reinvestment, buybacks, or dividends. Consistent free cash flow generation is often considered a sign of operational health. ROE of 14.2% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. An ROA of 8.3% suggests reasonable efficiency in deploying the company's asset base. Revenue has grown from $546.3M (2022) to $961.0M (2025), reflecting a 76% increase over the period.

The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. No single metric tells the full story. Reviewing OSW's risk profile alongside its fundamentals and technical indicators provides a more complete picture.

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