OneSpaWorld Holdings (OSW) AI Stock Analysis

• Market Cap: $2.17B
• Dividend Yield: 0.75%
• Average Volume (3M): 537.97K
• Price to Earnings (P/E): 33.3
• Beta (1Y): 1.09
• Revenue Growth: 9.80%
• EPS Growth: 89.42%
• Country: US
• Employees: 5,191
• Sector: Consumer Cyclical
• Sector Strength: 57
• Industry: Leisure
• EPS (TTM): 0.22
• Shares Outstanding: 102,697,235
• 10 Day Avg. Volume: 575,354
• 30 Day Avg. Volume: 537,968
• PEG Ratio: 0.06
• Price to Book (P/B): 1.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -105.47
• Enterprise Value/Market Cap: 0.49
• Enterprise Value/Revenue: 0.30
• Enterprise Value/Gross Profit: 7.87
• Enterprise Value/Ebitda: 2.74
• 1Y Price Target: $22.50
• Price Target Upside: 4.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 77 Outperform
• Price Target: $23.00 ▲(7.33%Upside)

OneSpaWorld Holdings demonstrates strong financial performance and positive earnings call insights, indicating growth and profitability. Technical analysis supports the positive trend, though the stock appears expensive. These factors combined suggest a robust stock, but with caution due to high valuation.

Positive Factors

Market Position

Significant barriers to entry solidify OneSpaWorld’s dominance in maritime spa, with good visibility to long-term annual revenue growth in the high-single-digit range yielding similar to better profit growth and strong free cash flow generation.

Operational Performance

OneSpaWorld's first quarter was at the high end of top- and bottom-line guidance while modestly beating consensus.

Revenue Growth

Healthy increases in per-guest spend on favorable pre-booking trends, mix shift to higher-priced services, and low discounting are expected.

Negative Factors

Management Changes

Adjusted EBITDA upside was curtailed by $1.1 million of cash severance in the quarter related to the departure of the chief commercial officer.

Revenue Growth Challenges

An anticipated $4.3 million combined headwind from more dry dock days and lapping leap day is expected to cause a sequential deceleration to 4% revenue growth.

Visibility and Demand

OSW has limited visibility into future demand since much of its revenue depends on real-time onboard spending, and pre-bookings have a shorter window than cruise ticket bookings.

OneSpaWorld Holdings Business Overview & Revenue Model

Company Description

OneSpaWorld Holdings (OSW) is a premier global provider of health and wellness services, primarily catering to the cruise industry and destination resorts. The company offers a comprehensive range of services including spa, fitness, beauty, and wellness treatments. With operations spanning across multiple cruise lines and resorts, OneSpaWorld is a leader in delivering personalized and luxurious wellness experiences to travelers worldwide.

How the Company Makes Money

OneSpaWorld Holdings generates revenue through service agreements with cruise lines and destination resorts, where it operates spa and wellness facilities. The company earns money by providing a variety of services such as massages, beauty treatments, fitness classes, and wellness therapies to guests. Revenue is further bolstered by the sale of beauty and wellness products within its facilities. Strategic partnerships with major cruise lines and resorts enhance its market reach and contribute significantly to its earnings. Additionally, the company benefits from a diversified service portfolio and a strong presence in the growing wellness tourism sector.

OneSpaWorld Holdings Financial Statement Overview

Summary

OneSpaWorld Holdings has shown significant financial improvements, marked by revenue growth of 12.72% and a positive net profit margin of 8.14% in 2024. The company also demonstrated operational efficiency with improved EBIT and EBITDA margins. The balance sheet strength is evident with no debt and a high equity ratio of 74.28%, while cash flow is robust with a 24.31% growth in free cash flow.

Income Statement

OneSpaWorld Holdings has shown significant revenue growth with an impressive revenue growth rate of 12.72% from 2023 to 2024. The gross profit margin improved to 14.80%, and the net profit margin turned positive at 8.14% in 2024, indicating improved profitability. EBIT and EBITDA margins also strengthened, demonstrating enhanced operational efficiency. However, prior years showed periods of losses, which should be considered when evaluating long-term performance.

Balance Sheet

The company's balance sheet shows strong equity with an equity ratio of 74.28%. The absence of total debt in 2024 is a significant positive shift from previous years and reduces leverage risk. Return on Equity (ROE) increased to 13.14%, reflecting efficient use of equity to generate profits. However, the stability of equity growth and the ability to maintain low debt levels should be monitored.

Cash Flow

OneSpaWorld Holdings has demonstrated strong cash flow improvements with a free cash flow growth rate of 24.31% from 2023 to 2024. The operating cash flow to net income ratio is strong at 1.08, indicating robust cash generation relative to net income. The positive free cash flow to net income ratio of 0.99 further supports the company's liquidity position. Continued positive cash flow trends would enhance financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	903.42M	895.02M	794.04M	546.26M	144.03M	120.92M
Gross Profit	134.46M	132.89M	90.23M	83.57M	8.45M	-18.31M
EBITDA	102.48M	107.41M	42.42M	37.49M	-32.14M	-246.62M
Net Income	66.97M	72.86M	-2.97M	53.16M	-68.52M	-280.49M
Balance Sheet
Total Assets	708.72M	746.42M	706.14M	717.43M	688.87M	702.28M
Cash, Cash Equivalents and Short-Term Investments	22.61M	57.44M	27.70M	32.06M	30.94M	41.55M
Total Debt	0.00	112.74M	170.63M	227.13M	230.46M	229.43M
Total Liabilities	178.15M	191.93M	272.07M	351.63M	394.96M	276.75M
Stockholders Equity	530.56M	554.50M	434.07M	365.81M	293.90M	425.53M
Cash Flow
Free Cash Flow	66.72M	72.06M	57.96M	19.94M	-37.97M	-38.68M
Operating Cash Flow	73.95M	78.80M	63.38M	24.76M	-35.10M	-36.55M
Investing Cash Flow	-7.23M	-6.74M	-5.42M	-4.83M	-2.87M	-2.13M
Financing Cash Flow	-109.52M	-42.21M	-62.66M	-18.72M	27.47M	68.55M

OneSpaWorld Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.43
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OSW, the sentiment is Positive. The current price of 21.43 is above the 20-day moving average (MA) of 20.11, above the 50-day MA of 19.29, and above the 200-day MA of 18.69, indicating a bullish trend. The MACD of 0.62 indicates Negative momentum. The RSI at 70.37 is Negative, neither overbought nor oversold. The STOCH value of 88.53 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OSW.

OneSpaWorld Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OSW	77 Outperform	$2.17B	33.29	12.80%	0.75%	9.80%	89.42%
LTH	73 Outperform	$6.44B	30.67	8.24%	―	18.58%	169.49%
PLNT	71 Outperform	$8.95B	50.06	-79.88%	―	10.32%	20.44%
Sector *	63 Neutral	$16.62B	10.98	-6.98%	2.96%	1.73%	-24.23%
PRKS	61 Neutral	$2.70B	13.05	-52.57%	―	-0.92%	0.80%
PTON	55 Neutral	$2.67B	―	58.47%	―	-6.35%	79.04%
XPOF	54 Neutral	$485.15M	―	22.27%	―	-3.17%	-194.72%

OneSpaWorld Holdings Corporate Events

OneSpaWorld Holdings Approves Proposals at Annual Meeting

On June 9, 2025, OneSpaWorld Holdings Limited conducted its 2025 Annual Meeting of Shareholders, where approximately 95% of the company’s common shares were voted. All director nominees were elected, and all proposals, including executive compensation and the appointment of Ernst & Young LLP as the independent accounting firm, were approved as recommended by the Board of Directors.

The most recent analyst rating on (OSW) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on OneSpaWorld Holdings stock, see the OSW Stock Forecast page.