vs
Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $127.0M, roughly 1.9× BRANDYWINE REALTY TRUST). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -38.4%, a 43.4% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 4.5%). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% CAGR vs 0.7%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
BDN vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $242.1M |
| Net Profit | $-48.8M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 1.2% | 6.8% |
| Net Margin | -38.4% | 5.0% |
| Revenue YoY | 4.5% | 11.5% |
| Net Profit YoY | -80.4% | -16.2% |
| EPS (diluted) | $-0.28 | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $127.0M | — | ||
| Q4 25 | $121.0M | $242.1M | ||
| Q3 25 | $121.4M | $258.5M | ||
| Q2 25 | $120.6M | $240.7M | ||
| Q1 25 | $121.5M | $219.6M | ||
| Q4 24 | $121.9M | $217.2M | ||
| Q3 24 | $131.8M | $241.7M | ||
| Q2 24 | $125.3M | $224.9M |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | $12.1M | ||
| Q3 25 | $-25.9M | $24.3M | ||
| Q2 25 | $-88.7M | $19.9M | ||
| Q1 25 | $-27.0M | $15.3M | ||
| Q4 24 | $-44.5M | $14.4M | ||
| Q3 24 | $-165.2M | $21.6M | ||
| Q2 24 | $30.2M | $15.8M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.4% | — | ||
| Q1 25 | 60.8% | — | ||
| Q4 24 | 61.2% | — | ||
| Q3 24 | 64.9% | — | ||
| Q2 24 | 63.1% | — |
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | 6.8% | ||
| Q3 25 | 20.8% | 10.2% | ||
| Q2 25 | -34.3% | 9.2% | ||
| Q1 25 | 12.5% | 7.7% | ||
| Q4 24 | 18.0% | 7.9% | ||
| Q3 24 | -7.2% | 10.3% | ||
| Q2 24 | 15.5% | 8.4% |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | 5.0% | ||
| Q3 25 | -21.3% | 9.4% | ||
| Q2 25 | -73.5% | 8.3% | ||
| Q1 25 | -22.2% | 7.0% | ||
| Q4 24 | -36.5% | 6.6% | ||
| Q3 24 | -125.4% | 8.9% | ||
| Q2 24 | 24.1% | 7.0% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | $0.12 | ||
| Q3 25 | $-0.15 | $0.23 | ||
| Q2 25 | $-0.51 | $0.19 | ||
| Q1 25 | $-0.16 | $0.15 | ||
| Q4 24 | $-0.25 | $0.13 | ||
| Q3 24 | $-0.96 | $0.20 | ||
| Q2 24 | $0.17 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.2M | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | — | $542.6M |
| Total Assets | $3.6B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | $16.3M | ||
| Q3 25 | $75.5M | $29.6M | ||
| Q2 25 | $122.6M | $35.0M | ||
| Q1 25 | $29.4M | $22.6M | ||
| Q4 24 | $90.2M | $57.4M | ||
| Q3 24 | $36.5M | $48.8M | ||
| Q2 24 | $30.4M | $62.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $84.0M | ||
| Q3 25 | $2.3B | $85.2M | ||
| Q2 25 | $2.3B | $96.2M | ||
| Q1 25 | $2.2B | $97.4M | ||
| Q4 24 | $2.2B | $98.6M | ||
| Q3 24 | $2.3B | $98.7M | ||
| Q2 24 | $2.2B | $123.8M |
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | $542.6M | ||
| Q3 25 | $841.5M | $552.8M | ||
| Q2 25 | $879.8M | $548.3M | ||
| Q1 25 | $993.6M | $530.6M | ||
| Q4 24 | $1.0B | $554.5M | ||
| Q3 24 | $1.1B | $540.1M | ||
| Q2 24 | $1.3B | $532.7M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $707.1M | ||
| Q3 25 | $3.3B | $732.6M | ||
| Q2 25 | $3.4B | $731.8M | ||
| Q1 25 | $3.4B | $708.7M | ||
| Q4 24 | $3.5B | $746.4M | ||
| Q3 24 | $3.6B | $734.0M | ||
| Q2 24 | $3.8B | $756.8M |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | 0.15× | ||
| Q3 25 | 2.70× | 0.15× | ||
| Q2 25 | 2.63× | 0.18× | ||
| Q1 25 | 2.23× | 0.18× | ||
| Q4 24 | 2.13× | 0.18× | ||
| Q3 24 | 2.06× | 0.18× | ||
| Q2 24 | 1.73× | 0.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $20.0M |
| Free Cash FlowOCF − Capex | — | $14.9M |
| FCF MarginFCF / Revenue | — | 6.2% |
| Capex IntensityCapex / Revenue | — | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.7M | $20.0M | ||
| Q3 25 | $47.5M | $33.2M | ||
| Q2 25 | $34.4M | $20.3M | ||
| Q1 25 | $6.3M | $10.1M | ||
| Q4 24 | $181.1M | $16.6M | ||
| Q3 24 | $52.2M | $28.6M | ||
| Q2 24 | $48.2M | $18.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $17.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 7.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | 1.60× | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
