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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $961M | $107M | $72M | $68M | 13.2% | 7.4% | -1.7% |
| 2024 | $895M | $111M | $73M | $72M | 13.1% | 12.7% | -2550.0% |
| 2023 | $794M | $39M | $-3M | $58M | -0.7% | 45.4% | -105.6% |
| 2022 | $546M | $92M | $53M | $20M | 14.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 546.26 | 794.04 | 895.02 | 961 |
| Operating Revenue | - | 546.26 | 794.04 | 895.02 | 961 |
| Cost Of Revenue | - | 462.69 | 667 | 745.56 | 801.85 |
| Gross Profit | - | 83.57 | 127.04 | 149.46 | 159.15 |
| Operating Expense | - | 68.43 | 70.74 | 71.03 | 71.66 |
| Selling General And Administration | - | 51.61 | 53.92 | 54.46 | 55.16 |
| Total Expenses | - | 531.12 | 737.74 | 816.58 | 873.52 |
| Operating Income | - | 15.14 | 56.30 | 78.44 | 87.48 |
| Total Operating Income As Reported | - | 15.14 | 54.17 | 78.06 | 81.64 |
| EBITDA | - | 91.89 | 38.94 | 111.18 | 107.11 |
| Normalized EBITDA | - | 37.49 | 78.62 | 103.88 | 112.96 |
| EBIT | - | 69.54 | 16.90 | 86.90 | 81.78 |
| Interest Income | - | 0 | 0.28 | 1.17 | 0.49 |
| Interest Expense | - | 15.76 | 21.40 | 10.05 | 5.66 |
| Net Interest Income | - | -15.76 | -21.12 | -8.88 | -5.18 |
| Other Non Operating Income Expenses | - | - | - | - | -0.35 |
| Other Income Expense | - | 54.40 | -39.69 | 7.30 | -6.20 |
| Interest Income Non Operating | - | 0 | 0.28 | 1.17 | 0.49 |
| Interest Expense Non Operating | - | 15.76 | 21.40 | 10.05 | 5.66 |
| Net Non Operating Interest Income Expense | - | -15.76 | -21.12 | -8.88 | -5.18 |
| Pretax Income | - | 53.78 | -4.50 | 76.86 | 76.11 |
| Tax Provision | - | 0.62 | -1.53 | 3.99 | 4.49 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.63 | -13.46 | 0.38 | -0.35 |
| Net Income Continuous Operations | - | 53.16 | -2.97 | 72.86 | 71.62 |
| Net Income From Continuing And Discontinued Operation | - | 53.16 | -2.97 | 72.86 | 71.62 |
| Net Income From Continuing Operation Net Minority Interest | - | 53.16 | -2.97 | 72.86 | 71.62 |
| Net Income | - | 53.16 | -2.97 | 72.86 | 71.62 |
| Net Income Common Stockholders | - | 53.16 | -2.97 | 72.86 | 71.62 |
| Net Income Including Noncontrolling Interests | - | 53.16 | -2.97 | 72.86 | 71.62 |
| Normalized Income | - | -0.61 | 23.25 | 65.94 | 77.12 |
| Diluted NI Availto Com Stockholders | - | 46.76 | -2.97 | 72.86 | 71.62 |
| Basic Average Shares | - | 92.51 | 97.83 | 104.02 | 103.19 |
| Diluted Average Shares | - | 95.10 | 97.83 | 104.94 | 103.67 |
| Reconciled Depreciation | - | 22.35 | 22.04 | 24.28 | 25.33 |
| Reconciled Cost Of Revenue | - | 457.16 | 661.79 | 737.85 | 793.03 |
| Total Unusual Items | - | 54.40 | -39.69 | 7.30 | -5.85 |
| Total Unusual Items Excluding Goodwill | - | 54.40 | -39.69 | 7.30 | -5.85 |
| Minority Interests | 0 | - | - | - | - |
| Special Income Charges | - | 0 | -2.13 | -0.38 | -5.85 |
| Impairment Of Capital Assets | - | 0 | 2.13 | 0.38 | 3.14 |
| Restructuring And Mergern Acquisition | - | - | 0 | 0 | 2.70 |
| Gain On Sale Of Security | -2.60 | 54.40 | -37.56 | 7.68 | - |
| Depreciation Amortization Depletion Income Statement | - | 16.82 | 16.82 | 16.57 | 16.51 |
| Depreciation And Amortization In Income Statement | - | 16.82 | 16.82 | 16.57 | 16.51 |
| General And Administrative Expense | - | 51.61 | 53.92 | 54.46 | 55.16 |
| Other Gand A | - | 15.78 | 17.11 | 18.83 | 18.06 |
| Salaries And Wages | - | 35.83 | 36.80 | 35.63 | 37.09 |
| Average Dilution Earnings | 0 | -6.40 | 0 | 0 | - |
| Amortization | - | 16.82 | 16.82 | 16.57 | 16.51 |
| Amortization Of Intangibles Income Statement | - | 16.82 | 16.82 | 16.57 | 16.51 |
| Other Taxes | 28.15 | - | - | - | - |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OneSpaWorld Holdings Limitedthis co. | OSW | $2.4B | 34.02↑ premium | 4.49 | 13.2% | 23.48 |
| PENN Entertainment, Inc. | PENN | $2.6B | -3.12 | 1.43 | -46.0% | 412.90 |
| CarGurus, Inc. | CARG | $2.5B | 15.83 | 6.60 | 41.7% | 9.03 |
| Under Armour, Inc. | UAA | $2.4B | -4.80 | 1.68 | -35.0% | 54.01 |
| Mister Car Wash, Inc. | MCW |
| - |
| - |
| - |
| - |
| - |
| - |
| $2.3B |
| 22.65 |
| 2.06 |
| 9.1% |
| 14.16 |
| LCI Industries | LCII | $2.3B | 12.39 | 1.71 | 13.8% | 8.12 |
| Under Armour, Inc. | UA | $2.3B | -4.65 | 1.63 | -35.0% | 53.04 |
| Shake Shack Inc. | SHAK | $2.3B | 49.93 | 4.35 | 8.7% | 15.39 |
| The Buckle, Inc. | BKE | $2.2B | 10.70 | 5.28 | 49.4% | 8.21 |
| Peer Median | - | 11.54 | 1.89 | 8.9% | 14.77 | |