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Side-by-side financial comparison of DESCARTES SYSTEMS GROUP INC (DSGX) 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 $179.8M, roughly 1.3× DESCARTES SYSTEMS GROUP INC). DESCARTES SYSTEMS GROUP INC runs the higher net margin — 21.1% vs 5.0%, a 16.2% gap on every dollar of revenue. DESCARTES SYSTEMS GROUP INC produced more free cash flow last quarter ($62.1M vs $14.9M).
The Descartes Systems Group Inc. is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.
DSGX vs OSW — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.8M | $242.1M |
| Net Profit | $38.0M | $12.1M |
| Gross Margin | 76.9% | — |
| Operating Margin | 26.8% | 6.8% |
| Net Margin | 21.1% | 5.0% |
| Revenue YoY | — | 11.5% |
| Net Profit YoY | — | -16.2% |
| EPS (diluted) | $0.43 | $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.
| Q4 25 | — | $242.1M | ||
| Q3 25 | $179.8M | $258.5M | ||
| Q2 25 | — | $240.7M | ||
| Q1 25 | — | $219.6M | ||
| Q4 24 | — | $217.2M | ||
| Q3 24 | $163.4M | $241.7M | ||
| Q2 24 | — | $224.9M | ||
| Q1 24 | — | $211.2M |
| Q4 25 | — | $12.1M | ||
| Q3 25 | $38.0M | $24.3M | ||
| Q2 25 | — | $19.9M | ||
| Q1 25 | — | $15.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $34.7M | $21.6M | ||
| Q2 24 | — | $15.8M | ||
| Q1 24 | — | $21.2M |
| Q4 25 | — | — | ||
| Q3 25 | 76.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 6.8% | ||
| Q3 25 | 26.8% | 10.2% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 28.1% | 10.3% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | — | 8.0% |
| Q4 25 | — | 5.0% | ||
| Q3 25 | 21.1% | 9.4% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 21.2% | 8.9% | ||
| Q2 24 | — | 7.0% | ||
| Q1 24 | — | 10.0% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | $0.43 | $0.23 | ||
| Q2 25 | — | $0.19 | ||
| Q1 25 | — | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | $0.40 | $0.20 | ||
| Q2 24 | — | $0.15 | ||
| Q1 24 | — | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $240.6M | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $1.5B | $542.6M |
| Total Assets | $1.8B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $16.3M | ||
| Q3 25 | $240.6M | $29.6M | ||
| Q2 25 | — | $35.0M | ||
| Q1 25 | — | $22.6M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | $252.7M | $48.8M | ||
| Q2 24 | — | $62.5M | ||
| Q1 24 | — | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | — | $542.6M | ||
| Q3 25 | $1.5B | $552.8M | ||
| Q2 25 | — | $548.3M | ||
| Q1 25 | — | $530.6M | ||
| Q4 24 | — | $554.5M | ||
| Q3 24 | $1.3B | $540.1M | ||
| Q2 24 | — | $532.7M | ||
| Q1 24 | — | $515.5M |
| Q4 25 | — | $707.1M | ||
| Q3 25 | $1.8B | $732.6M | ||
| Q2 25 | — | $731.8M | ||
| Q1 25 | — | $708.7M | ||
| Q4 24 | — | $746.4M | ||
| Q3 24 | $1.6B | $734.0M | ||
| Q2 24 | — | $756.8M | ||
| Q1 24 | — | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $63.3M | $20.0M |
| Free Cash FlowOCF − Capex | $62.1M | $14.9M |
| FCF MarginFCF / Revenue | 34.5% | 6.2% |
| Capex IntensityCapex / Revenue | 0.7% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.67× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $189.6M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.0M | ||
| Q3 25 | $63.3M | $33.2M | ||
| Q2 25 | — | $20.3M | ||
| Q1 25 | — | $10.1M | ||
| Q4 24 | — | $16.6M | ||
| Q3 24 | $34.7M | $28.6M | ||
| Q2 24 | — | $18.7M | ||
| Q1 24 | — | $15.0M |
| Q4 25 | — | $14.9M | ||
| Q3 25 | $62.1M | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | $33.1M | $27.5M | ||
| Q2 24 | — | $17.6M | ||
| Q1 24 | — | $13.7M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | 34.5% | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | 20.2% | 11.4% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 6.5% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | 0.7% | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 1.0% | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | 1.67× | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | 1.00× | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGX
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
