OneSpaWorld Holdings Ltd logo

OneSpaWorld Holdings Ltd(OSW)

upturn advisory logo
ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$22.92
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
  • ALL
  • 1Y
  • 1M
  • 1W
  • BUY Advisory
  • SELL Advisory (Profit)
  • SELL Advisory (Loss)
  • Profit
  • Loss
  • PASS (Skip)
Upturn Stock price based on last close iconStock price based on last close

Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for OSW

09/25/2026: OSW (1-star) is currently NOT-A-BUY. Pass it for now.

OneSpaWorld is a dominant provider of health, wellness, and beauty services operating primarily on cruise ships. The company is known for its exclusive long-term contracts with major cruise lines, which create a sustainable competitive advantage and recurring revenue. Its growth story is tied to the expansion of the cruise industry and the rising demand for medical and aesthetic wellness services. Key risks include dependency on a few cruise operators, potential for cruise industry disruptions, and the cyclical nature of travel demand. The stock may suit investors seeking growth in the experiential leisure sector, though it remains sensitive to macro-economic travel trends.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitThe company benefits from the secular growth of the global cruise industry and increasing consumer focus on wellness.
Momentum investorStrong fit while signal remains positiveStrong operational recovery and consistent execution support positive sentiment among momentum-oriented investors.
Value investorMixed fitValuation is often tied to cyclical travel sentiment, requiring careful entry points.
Dividend investorStrong fitThe company's recurring revenue model supports stable and growing dividend payments.
Low-risk investorWeak fitExposure to travel and leisure sectors inherently introduces higher volatility compared to defensive industries.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock is sensitive to macro shifts in tourism and travel-related sentiment.
Valuation riskMediumMarket expectations for travel growth are often priced into the shares.
Competition risk (cruise line internal operations)MediumCruise lines could theoretically attempt to bring some wellness services in-house to capture more margin.
Business qualityStrongExclusive long-term contracts create a sustainable competitive moat.
Dividend incomeLowDividend payouts are sustainable but represent a smaller portion of the total return thesis.
Execution riskMediumMaintaining high-quality service across a massive, mobile, and international workforce is complex.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit 8.84%
Avg. Invested days 50
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 2.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
OSW receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

★★★★★
OSW has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, solid cash generation (FCF margin 7.1%) is partially offset by slightly negative earnings growth (-1.7%), moderate revenue growth (+7.4%), soft profitability (net margin 7.5%).

Financial Health Rating

★★★★★
OSW's financial health is supported by solid cash strength, including free-cash-flow generation (7.1% of revenue). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is OSW's strongest growth driver at +7.4% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while earnings growth (-1.7%, slightly negative) and free-cash-flow growth (-5.0%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 110.6% and approximately 97.3% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 3.62% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

Ariel Investments, LLC 14.67%
BlackRock Inc 9.79%
Delaware Management Holdings Inc 4.40%
Bank of America Corp 3.93%
Reinhart Mahoney Capital Management Inc 3.90%

Unit Economics (Per $1K Revenue)

★★★★★
OSW generates approximately $110 of gross profit, $91 of operating income, and $71 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 5.90%

Quantitative Style Profile

★★★★★
OSW has a liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

Small / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 2.33B USD
Price to earnings Ratio 29.01
1Y Target Price 31.2
Price to earnings Ratio 29.01
1Y Target Price 31.2
Volume (30-day avg) 977.7K shares
Beta 0.9
52 Weeks Range 18.94 - 29.19
Updated Date 09/25/2026
52 Weeks Range 18.94 - 29.19
Updated Date 09/25/2026
Dividends yield (FY) 0.84%
Basic EPS (TTM) 0.79

How Company Makes Money

Business areaWhat it includesRetail investor read
Maritime OperationsSpa, fitness, and beauty services on cruise ships.The vast majority of revenue comes from providing luxury services to cruise passengers.
Retail RevenueSale of premium beauty and skincare products.High-margin retail sales are a significant contributor to overall profitability.
GeographyGlobal operations spanning all major cruise routes.The company is diversified across the entire global cruise tourism market.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

Advertisement

Valuation

Trailing PE 29.01
Forward PE 27.86
Enterprise Value 2.31B
Price to Sales(TTM) 2.3
Enterprise Value 2.31B
Price to Sales(TTM) 2.3
Enterprise Value to Revenue 2.29
Enterprise Value to EBITDA 19.7
Shares Outstanding 101.50M
Shares Floating 98.80M
Shares Outstanding 101.50M
Shares Floating 98.80M
Percent Insiders 3.62
Percent Institutions 110.6

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

Information icon for Upturn AI Summarization accuracy disclaimer AI Summarization is directionally correct and might not be accurate.

Information icon for Upturn AI Summarization data freshness disclaimer Summarized information shown could be a few years old and not current.

Information icon warning about Upturn AI Fundamental Rating based on potentially old data Fundamental Rating based on AI could be based on old data.

Information icon warning about potential inaccuracies or hallucinations in Upturn AI-generated summaries AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About OneSpaWorld Holdings Ltd

Exchange NASDAQ
Headquarters -
IPO Launch date 2019-03-20
CEO & Executive Chairman Mr. Leonard I. Fluxman
Sector Consumer Cyclical
Industry Leisure
Full time employees 5395
Full time employees 5395

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.