OneSpaWorld Holdings Limited (OSW) Key Metrics
OSW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.42B
- Enterprise value
- $2.31B
- P/E (TTM)
- 30.2 10-yr median 28.7
- Forward P/E
- 27.9
- PEG ratio
- —
- Price / sales
- 2.4 10-yr median 1.8
- Price / book
- 3.9 10-yr median 3.1
- EV / EBITDA
- 19.7 10-yr median 19.3
- Dividend yield
- 0.84% $0.20 a year
- Beta
- 0.90
OSW key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsOSW valuation Price multiples at each fiscal year-end price.
OSW returns How much profit the business earns on the capital it uses.
OSW per-share figures Results divided by the shares outstanding at year-end.
OSW financial health Debt, liquidity and how easily interest is covered.
OSW efficiency & capital use Working capital cycle and where the cash goes.
OSW valuation history
OSW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
OSW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
OSW cash returned to shareholders
OSW price vs earnings per share
OSW key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.15B | $2.09B | $1.38B | $887.3M | $903.1M | $754.0M | $1.03B | $631.3M | $669.9M | — |
| Enterprise value | $2.23B | $2.14B | $1.52B | $1.08B | $1.10B | $943.7M | $1.24B | $968.5M | $661.2M | — |
| P/E ratio | 30.0 | 28.7 | — | 16.7 | — | — | — | 63.9 | 21.5 | — |
| Price / sales | 2.2 | 2.3 | 1.7 | 1.6 | 6.3 | 6.2 | 1.8 | 1.2 | 1.3 | — |
| Price / book | 4.0 | 3.8 | 3.2 | 2.4 | 3.1 | 1.8 | 1.6 | — | 3.0 | — |
| Price / free cash flow | 31.4 | 29.0 | 23.8 | 44.5 | — | — | — | 23.0 | 9.9 | — |
| Price / operating cash flow | 25.7 | 26.5 | 21.8 | 35.8 | — | — | — | 19.5 | 9.6 | — |
| EV / sales | 2.3 | 2.4 | 1.9 | 2.0 | 7.7 | 7.8 | 2.2 | 1.8 | 1.3 | — |
| EV / EBITDA | 20.9 | 19.3 | 39.1 | 11.8 | — | — | 29.8 | 16.4 | 13.7 | — |
| EV / free cash flow | 32.6 | 29.7 | 26.3 | 54.3 | — | — | — | 35.3 | 9.8 | — |
| Earnings yield | 3.3% | 3.5% | −0.2% | 6.0% | −7.6% | −38.2% | −5.9% | 1.6% | 4.6% | — |
| Free cash flow yield | 3.2% | 3.5% | 4.2% | 2.2% | −4.2% | −5.1% | −0.9% | 4.3% | 10.1% | — |
| Dividend yield | 0.8% | 0.4% | 3.9% | 0.0% | 0.0% | 0.3% | 0.4% | 2.5% | 9.1% | — |
| Shareholder yield (dividends + buybacks) | 4.3% | 1.3% | 4.5% | 0.0% | 0.0% | 0.3% | 0.4% | 2.5% | 9.1% | — |
| Share price at fiscal year-end | $20.74 | $19.90 | $14.10 | $9.33 | $10.02 | $10.14 | $16.84 | $10.01 | $9.56 | — |
| Per share | ||||||||||
| Revenue per share | $9.27 | $8.53 | $8.12 | $5.74 | $1.60 | $1.63 | $9.20 | $8.57 | $7.23 | $6.80 |
| Earnings per share | $0.69 | $0.69 | −$0.03 | $0.56 | −$0.76 | −$3.87 | −$0.99 | $0.16 | $0.44 | $0.21 |
| Operating cash flow per share | $0.81 | $0.75 | $0.65 | $0.26 | −$0.39 | −$0.49 | −$0.10 | $0.51 | $1.00 | $1.09 |
| Free cash flow per share | $0.66 | $0.69 | $0.59 | $0.21 | −$0.42 | −$0.52 | −$0.16 | $0.43 | $0.96 | $1.05 |
| Cash per share | $0.16 | $0.55 | $0.28 | $0.34 | $0.34 | $0.56 | $0.23 | $0.24 | $0.12 | $0.09 |
| Book value per share | $5.23 | $5.28 | $4.44 | $3.85 | $3.26 | $5.72 | $10.44 | −$2.08 | $3.15 | $3.39 |
| Tangible book value per share | $0.30 | $0.23 | −$1.15 | −$2.10 | −$3.20 | −$2.33 | −$2.76 | −$4.70 | $0.74 | $0.93 |
| Dividends per share | $0.17 | $0.08 | $0.55 | $0.00 | $0.00 | $0.03 | $0.07 | $0.25 | $0.87 | $1.00 |
| Capex per share | $0.15 | $0.06 | $0.06 | $0.05 | $0.03 | $0.03 | $0.06 | $0.08 | $0.04 | $0.04 |
| Debt per share | $0.91 | $1.07 | $1.74 | $2.39 | $2.56 | $3.11 | $3.62 | $5.59 | — | — |
| Shares outstanding | 103.7M | 104.9M | 97.8M | 95.1M | 90.1M | 74.4M | 61.1M | 63.1M | 70.1M | 70.1M |
| Change in shares outstanding | −1.2% | +7.3% | +2.9% | +5.5% | +21.2% | +21.7% | −3.1% | −10.0% | 0.0% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.1% | 14.7% | −0.7% | 16.1% | −19.0% | −54.1% | −24.0% | — | 13.6% | 6.3% |
| Return on invested capital (ROIC) | 13.4% | 12.5% | 7.5% | 2.8% | −7.4% | −28.7% | −2.6% | 21.5% | 14.9% | 7.8% |
| Return on assets (ROA) | 9.9% | 10.0% | −0.4% | 7.6% | −9.9% | −35.4% | −10.2% | 3.7% | 11.5% | 5.4% |
| Return on tangible assets | 36.5% | 33.7% | −1.9% | 35.0% | −64.3% | −279.1% | −51.9% | 9.2% | 31.7% | 14.6% |
| Free cash flow margin | 7.1% | 8.1% | 7.3% | 3.6% | −26.4% | −32.0% | −1.7% | 5.1% | 13.3% | 15.4% |
| Income quality (OCF / net income) | 1.17 | 1.08 | — | 0.47 | — | — | — | 3.28 | 2.25 | 5.14 |
| Financial health | ||||||||||
| Total debt | $94.4M | $112.7M | $170.6M | $227.1M | $230.5M | $231.2M | $221.4M | $352.4M | — | — |
| Cash & short-term investments | $16.3M | $57.4M | $27.7M | $32.1M | $30.9M | $41.6M | $13.9M | $15.3M | $8.7M | $6.6M |
| Net debt | $78.1M | $55.3M | $142.9M | $195.1M | $199.5M | $189.7M | $207.5M | $337.1M | −$8.7M | −$6.6M |
| Debt / equity | 0.17 | 0.20 | 0.39 | 0.62 | 0.78 | 0.54 | 0.35 | — | — | — |
| Debt / assets | 0.13 | 0.15 | 0.24 | 0.32 | 0.33 | 0.33 | 0.24 | 1.29 | — | — |
| Net debt / EBITDA | 0.73 | 0.50 | 3.67 | 2.12 | — | — | 4.99 | 5.72 | −0.18 | −0.18 |
| Current ratio | 1.91 | 2.03 | 1.57 | 1.69 | 1.71 | 2.22 | 1.76 | 1.87 | 1.70 | 2.54 |
| Quick ratio | 1.10 | 1.45 | 0.98 | 1.12 | 1.15 | 1.48 | 1.06 | 1.13 | 1.02 | 1.27 |
| Interest coverage | 16.9 | 7.8 | 2.5 | 1.0 | -3.9 | -16.5 | -0.7 | 1.4 | — | — |
| Working capital | $65.7M | $82.1M | $45.9M | $48.3M | $37.1M | $45.1M | $39.3M | $37.7M | $25.9M | $40.4M |
| Invested capital | $620.6M | $609.8M | $577.0M | $560.9M | $493.4M | $615.2M | $845.8M | $206.0M | $212.0M | $231.2M |
| Tangible asset value | $31.6M | $24.5M | −$112.9M | −$199.7M | −$288.4M | −$173.6M | −$160.3M | −$293.0M | $56.4M | $72.4M |
| Net current asset value | −$26.8M | −$30.4M | −$145.3M | −$233.7M | −$306.0M | −$194.6M | −$186.6M | −$319.3M | $21.3M | $36.7M |
| Graham number | $9.02 | $9.09 | — | $6.96 | — | — | — | — | $5.61 | $4.03 |
| Graham net-net per share | −$0.80 | −$0.73 | −$1.94 | −$2.89 | −$3.71 | −$2.95 | −$3.64 | −$5.55 | −$0.04 | $0.13 |
| Capital allocation | ||||||||||
| Dividends paid | $17.5M | $8.3M | $53.6M | $0 | $0 | $2.4M | $4.3M | $15.7M | $60.9M | $70.3M |
| Share buybacks (net) | $75.4M | $19.0M | $9.0M | $0 | $0 | $0 | $0 | — | $0 | — |
| Dividend payout ratio | 24.4% | 11.4% | — | 0.0% | — | — | — | 158.7% | 195.7% | 472.0% |
| Dividends + buybacks / free cash flow | 135.7% | 37.9% | 108.1% | 0.0% | — | — | — | 57.3% | 90.3% | 95.6% |
| Capex / revenue | 1.6% | 0.8% | 0.7% | 0.9% | 2.0% | 1.8% | 0.6% | 0.9% | 0.5% | 0.6% |
| Capex / operating cash flow | 18.0% | 8.6% | 8.5% | 19.5% | — | — | — | 15.4% | 3.8% | 4.0% |
| Capex / depreciation | 0.60 | 0.28 | 0.25 | 0.22 | 0.13 | 0.09 | 0.16 | 0.50 | 0.27 | 0.24 |
| Stock-based compensation / revenue | 1.0% | 1.0% | 1.3% | 2.4% | 7.4% | 4.1% | 3.7% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 5.7% | 6.1% | 6.8% | 9.4% | 30.3% | 32.3% | 1.7% | 4.7% | 4.8% | 5.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 17.9 | 17.7 | 17.1 | 17.7 | 28.5 | 50.6 | 18.1 | 16.4 | 15.9 | 16.0 |
| Days of inventory on hand | 22.5 | 23.1 | 23.9 | 27.3 | 76.3 | 82.9 | 24.0 | 22.7 | 24.4 | 28.8 |
| Days payables outstanding | 13.1 | 15.0 | 15.3 | 15.8 | 32.9 | 42.0 | 13.2 | 11.9 | 8.6 | 4.0 |
| Cash conversion cycle (days) | 27.3 | 25.8 | 25.7 | 29.3 | 71.9 | 91.5 | 28.9 | 27.2 | 31.7 | 40.8 |
| Receivables turnover | 20.40 | 20.56 | 21.36 | 20.60 | 12.82 | 7.22 | 20.13 | 22.25 | 22.98 | 22.86 |
| Payables turnover | 27.80 | 24.26 | 23.89 | 23.15 | 11.09 | 8.69 | 27.62 | 30.66 | 42.58 | 91.93 |
| Inventory turnover | 16.20 | 15.82 | 15.27 | 13.35 | 4.78 | 4.40 | 15.19 | 16.09 | 14.99 | 12.68 |
| Asset turnover | 1.32 | 1.23 | 1.12 | 0.78 | 0.21 | 0.15 | 0.94 | 2.00 | 1.87 | 1.73 |
| Average receivables | $47.1M | $43.5M | $37.2M | $26.5M | $11.2M | $16.8M | $27.9M | $24.3M | $22.1M | $20.8M |
| Average payables | $30.8M | $30.7M | $27.9M | $20.0M | $12.2M | $16.0M | $18.8M | $15.1M | $10.3M | $4.6M |
| Average inventory | $52.8M | $47.1M | $43.7M | $34.7M | $28.3M | $31.6M | $34.2M | $28.8M | $29.4M | $33.5M |
| Intangibles / total assets | 72.3% | 71.0% | 77.5% | 78.8% | 84.5% | 85.3% | 87.3% | 60.7% | 63.2% | 62.7% |
Computed from OSW's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
OSW valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), OneSpaWorld traded at 30.0 times earnings, against a 10-year median of 28.7. Based on the latest twelve months, the trailing P/E is 30.2 and the forward P/E is 27.9. OneSpaWorld earned a return on equity of 13.1% and a return on invested capital of 13.4% in fiscal 2025. It ended the year with $94.4 million of debt and $16.3 million in cash and short-term investments, net debt of $78.1 million. It returned $92.9 million to shareholders: $17.5 million in dividends and $75.4 million in share buybacks, 136% of free cash flow. The share count rose 47.9% from 70.1M to 103.7M over 9 years.
See the OSW income statement, the OSW chart for price history, or the OSW stock overview for the latest quote and news.
OSW key metrics FAQ
What is OneSpaWorld's P/E ratio?
OneSpaWorld's trailing P/E ratio is 30.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 27.9. At the end of fiscal 2025 it was 30.0, compared with a 10-year median of 28.7.
What is OneSpaWorld's EV/EBITDA?
OneSpaWorld's enterprise value was 20.9 times EBITDA at the end of fiscal 2025 (enterprise value $2.2 billion, EBITDA $106.6 million); the current EV/EBITDA is 19.7.
What is OneSpaWorld's return on equity?
OneSpaWorld's return on equity (ROE) was 13.1% in fiscal 2025: net income of $71.6 million on average shareholders' equity of $548.5 million.
What is OneSpaWorld's ROIC?
OneSpaWorld's return on invested capital was 13.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does OneSpaWorld have?
OneSpaWorld had total debt of $94.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and $78.1 million of net debt (0.73 times EBITDA).
What is OneSpaWorld's dividend yield?
OneSpaWorld's forward dividend yield is 0.84%. OneSpaWorld paid $17.5 million in dividends in fiscal 2025 ($0.17 per share), a payout ratio of 24.4%.
Does OneSpaWorld buy back its shares?
Yes. OneSpaWorld spent $75.4 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.2% over the year, to 103.7M..
What is OneSpaWorld's free cash flow yield?
OneSpaWorld generated $68.4 million of free cash flow in fiscal 2025, a free cash flow yield of 3.2% on its market value at year-end ($2.2 billion).
What is OneSpaWorld's current ratio?
OneSpaWorld's current ratio was 1.91 at the end of fiscal 2025: current assets were 1.91 times current liabilities.