OneSpaWorld Holdings Ltd logo

OneSpaWorld Holdings Ltd(OSW)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$23.86
10/23/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Stock price based on last close iconStock price based on last close
Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Upturn Advisory & Investor View for OSW

10/23/2026: OSW (1-star) is currently NOT-A-BUY. Pass it for now.

OneSpaWorld Holdings Ltd is a specialized provider of wellness, beauty, and medi-spa services, primarily operating on cruise ships. The company holds a leading position in its niche, benefiting from exclusive long-term contracts and a high-margin, scalable business model. Its growth story centers on the recovery of the cruise industry and the expansion of high-value medi-spa offerings. However, the company faces risks related to cruise industry volatility, dependence on partner cruise lines, and macroeconomic shifts. OneSpaWorld may suit growth-oriented investors looking for exposure to the leisure sector, provided they monitor the health of the cruise industry and the stability of its major partnerships.

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 cruise industry and expansion in specialized medi-spa services.
Momentum investorStrong fit while signal remains positiveThe stock has shown consistent recovery trends aligning with broader leisure industry strength.
Value investorMixed fitValuation fluctuates based on cyclical cruise travel trends rather than purely fundamental value metrics.
Dividend investorMixed fitWhile they pay a dividend, the yield is modest, making it more of a growth-oriented play.
Low-risk investorWeak fitExposure to travel industry volatility and concentration risk makes it unsuitable for low-risk portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock is sensitive to global travel sentiment and macroeconomic news.
Valuation riskMediumInvestors must weigh the growth potential against the cyclical nature of the cruise market.
Competition risk (Internalization)MediumThere is a persistent risk that cruise lines may decide to operate their own wellness services.
Business qualityMedium / highThe company has a strong, unique niche, but is highly dependent on cruise operator health.
Dividend incomeLowDividends are not the primary reason for owning this stock compared to capital appreciation.
Execution riskMediumMaintaining quality across hundreds of ship-based spas requires consistent staffing and management.

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 10/23/2026

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 109.9% 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 9.70%
Delaware Management Holdings Inc 4.26%
Bank of America Corp 4.17%
State Street Corp 3.96%

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. Soft margins explain the 2-star rating, with moderate cash conversion and moderate capital efficiency.

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 2.42B USD
Price to earnings Ratio 30.59
1Y Target Price 31.2
Price to earnings Ratio 30.59
1Y Target Price 31.2
Volume (30-day avg) 743.8K shares
Beta 0.9
52 Weeks Range 18.94 - 29.19
Updated Date 10/24/2026
52 Weeks Range 18.94 - 29.19
Updated Date 10/24/2026
Dividends yield (FY) 0.78%
Basic EPS (TTM) 0.78

How Company Makes Money

Business areaWhat it includesRetail investor read
Cruise Ship Wellness ServicesRevenue from spa treatments, salon services, and fitness classes provided on partner cruise lines.This is the core engine, providing the majority of their revenue through essential, recurring guest services.
Retail Product SalesCommission and wholesale sales of luxury skincare and beauty products.These high-margin sales are a critical driver of total profit alongside service fees.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Earnings Date

Report Date 2026-10-28
When Before Market
Estimate 0.29
Actual -

Profitability

Profit Margin 8.02%
Operating Margin (TTM) 9.38%

Management Effectiveness

Return on Assets (TTM) 8.23%
Return on Equity (TTM) 14.32%

Valuation

Trailing PE 30.59
Forward PE 27.86
Enterprise Value 2.20B
Price to Sales(TTM) 2.4
Enterprise Value 2.20B
Price to Sales(TTM) 2.4
Enterprise Value to Revenue 2.39
Enterprise Value to EBITDA 20.54
Shares Outstanding 101.50M
Shares Floating 98.80M
Shares Outstanding 101.50M
Shares Floating 98.80M
Percent Insiders 3.62
Percent Institutions 109.93

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.

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