OneSpaWorld Holdings Limited Common Shares (OSW)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable economics bought at a sensible price. OneSpaWorld sells wellness services aboard cruise ships and at resorts. That can be a decent concession-like business, but it depends on cruise and travel traffic. The filed record shows a turnaround: in fiscal year 2023, the period ended 2023-12-31, revenue was $794.0M and net income was -$3.0M; in fiscal year 2024, revenue rose to $895.0M and net income was $72.9M; in fiscal year 2025, revenue reached $961.0M and net income was $71.6M. So sales are growing, but profit slipped slightly in fiscal 2025. More recently, in the quarter ended 2026-06-30, revenue was $261.2M and net income was $23.2M, versus revenue of $240.7M and net income of $19.9M in the quarter ended 2025-06-30. That is progress. The balance sheet looks sound: FairStock shows debt-to-equity of 0.16, ROE of 14.32%, ROCE of 8.23%, Piotroski F-Score 9/9, and Altman Z-Score 10.20. The weakness is price. At the 2026-10-13 close of $24.13, FairStock's P/E is 30.54, P/B is 4.20, EV/EBITDA is 21.32, PEG is 1.86, and FCF yield is 3.2%. The Graham Number is $10.10, implying the market pays a large premium to a conservative asset-and-earnings value. OneSpaWorld is a better business than it was in fiscal 2023, and the Lynch classification is TURNAROUND because it returned to profit after a loss within the last three years. But at this price, the conservative margin of safety is negative, so I would require more evidence that fiscal 2025's profit pause is temporary.

In plain English: OneSpaWorld runs spa, fitness and wellness centers on cruise ships and at destination resorts. The business looks stronger than a few years ago, with positive profits and low debt, though its latest quarterly profit margin was modest. At $24.13, the shares look expensive compared with the company's earnings, accounting value and cash generation.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer