OneSpaWorld Holdings (OSW) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

OneSpaWorld Holdings

NasdaqCM•Consumer Cyclical•Leisure

$21.69-0.01(<0.01%)Pre-market

Market Cap

$2.23B

P/E

27.6x

P/S

2.2x

P/B

3.8x

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.

How this company scores

ExcellentMetricSide Score: 84/100

Strongest: Cash & Earnings Quality (25/25); weakest: Profitability (18/25).

Profitability18/25

Growth19/25

Balance Sheet & Red Flags22/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowLow leverageInterest easily coveredCash-backed earnings

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 27.6x5y range 16.2x – 560.8x

Currently near its 15-quarter median.

P/S · 2.2x5y range 1.5x – 14.3x

Currently near its 18-quarter median.

P/B · 3.8x5y range 1.9x – 4.0x

Price & Volume

Market Cap $2.23B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.01B
Q. Revenue: $261.25M
TTM EBITDA: $129.74M
TTM Op. Income: $90.05M
Q. Op. Income: $24.51M
TTM Net Income: $80.95M
Q. Net Income: $23.21M
EPS: $0.23
Shares Out.: $102.05M

$1.01B in TTM revenue grew 9.8% YoY, reaching $261.25M last quarter. TTM EBITDA of $129.74M and TTM operating income of $90.05M show growth is flowing through to the bottom line. TTM net income of $80.95M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 17.1%
EBITDA Margin: 12.2%
Op. Margin: 9.4%
Net Margin: 8.9%

Op. margin of 9.4% is up 0.2% YoY — cost efficiency is improving. Net margin at 8.9% and gross margin of 17.1% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 27.6x
P/S Ratio: 2.2x
P/B Ratio: 3.8x

At 27.6x P/E, the stock trades within typical market levels. P/S of 2.2x and P/B of 3.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $729.84M
Cash: $40.36M
Long-Term Debt: $81.60M
Book Value: $582.20M
D/E Ratio: 0.1
Debt/EBITDA: 2.6

With $729.84M in assets and $81.60M in long-term debt, D/E is 0.1and book value is $582.20M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $33.29M
TTM Free Cash Flow: $78.23M
FCF Margin: 7.7%
FCF / Net Income: 1.0

TTM FCF of $78.23M on $33.29M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 17% — an improving trend.