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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) 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 $132.7M, roughly 1.8× Emerald Holding, Inc.). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -22.8%, a 27.7% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 11.5%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $11.7M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
EEX vs OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $242.1M |
| Net Profit | $-30.2M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | 6.8% |
| Net Margin | -22.8% | 5.0% |
| Revenue YoY | 24.3% | 11.5% |
| Net Profit YoY | -692.2% | -16.2% |
| EPS (diluted) | $-0.15 | $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 | $132.7M | $242.1M | ||
| Q3 25 | $77.5M | $258.5M | ||
| Q2 25 | $105.5M | $240.7M | ||
| Q1 25 | $147.7M | $219.6M | ||
| Q4 24 | $106.8M | $217.2M | ||
| Q3 24 | $72.6M | $241.7M | ||
| Q2 24 | $86.0M | $224.9M | ||
| Q1 24 | $133.4M | $211.2M |
| Q4 25 | $-30.2M | $12.1M | ||
| Q3 25 | $-14.4M | $24.3M | ||
| Q2 25 | $-1.4M | $19.9M | ||
| Q1 25 | $15.3M | $15.3M | ||
| Q4 24 | $5.1M | $14.4M | ||
| Q3 24 | $-11.1M | $21.6M | ||
| Q2 24 | $-2.8M | $15.8M | ||
| Q1 24 | $11.0M | $21.2M |
| Q4 25 | -11.8% | 6.8% | ||
| Q3 25 | -10.1% | 10.2% | ||
| Q2 25 | 9.7% | 9.2% | ||
| Q1 25 | 24.2% | 7.7% | ||
| Q4 24 | 19.5% | 7.9% | ||
| Q3 24 | -6.5% | 10.3% | ||
| Q2 24 | 7.4% | 8.4% | ||
| Q1 24 | 18.2% | 8.0% |
| Q4 25 | -22.8% | 5.0% | ||
| Q3 25 | -18.6% | 9.4% | ||
| Q2 25 | -1.3% | 8.3% | ||
| Q1 25 | 10.4% | 7.0% | ||
| Q4 24 | 4.8% | 6.6% | ||
| Q3 24 | -15.3% | 8.9% | ||
| Q2 24 | -3.3% | 7.0% | ||
| Q1 24 | 8.2% | 10.0% |
| Q4 25 | $-0.15 | $0.12 | ||
| Q3 25 | $-0.07 | $0.23 | ||
| Q2 25 | $-0.01 | $0.19 | ||
| Q1 25 | $0.08 | $0.15 | ||
| Q4 24 | $0.01 | $0.13 | ||
| Q3 24 | $-0.05 | $0.20 | ||
| Q2 24 | $-0.03 | $0.15 | ||
| Q1 24 | $0.00 | $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 | $100.9M | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $338.8M | $542.6M |
| Total Assets | $1.2B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $16.3M | ||
| Q3 25 | $95.4M | $29.6M | ||
| Q2 25 | $156.4M | $35.0M | ||
| Q1 25 | $276.8M | $22.6M | ||
| Q4 24 | $194.8M | $57.4M | ||
| Q3 24 | $188.9M | $48.8M | ||
| Q2 24 | $193.2M | $62.5M | ||
| Q1 24 | $186.8M | $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 | $338.8M | $542.6M | ||
| Q3 25 | $369.5M | $552.8M | ||
| Q2 25 | $389.4M | $548.3M | ||
| Q1 25 | $392.1M | $530.6M | ||
| Q4 24 | $385.9M | $554.5M | ||
| Q3 24 | $391.1M | $540.1M | ||
| Q2 24 | $407.6M | $532.7M | ||
| Q1 24 | $-90.7M | $515.5M |
| Q4 25 | $1.2B | $707.1M | ||
| Q3 25 | $1.2B | $732.6M | ||
| Q2 25 | $1.2B | $731.8M | ||
| Q1 25 | $1.2B | $708.7M | ||
| Q4 24 | $1.0B | $746.4M | ||
| Q3 24 | $1.1B | $734.0M | ||
| Q2 24 | $1.1B | $756.8M | ||
| Q1 24 | $1.1B | $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 | $12.3M | $20.0M |
| Free Cash FlowOCF − Capex | $11.7M | $14.9M |
| FCF MarginFCF / Revenue | 8.8% | 6.2% |
| Capex IntensityCapex / Revenue | 0.5% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $20.0M | ||
| Q3 25 | $1.8M | $33.2M | ||
| Q2 25 | $15.9M | $20.3M | ||
| Q1 25 | $12.6M | $10.1M | ||
| Q4 24 | $20.6M | $16.6M | ||
| Q3 24 | $9.1M | $28.6M | ||
| Q2 24 | $9.8M | $18.7M | ||
| Q1 24 | $7.3M | $15.0M |
| Q4 25 | $11.7M | $14.9M | ||
| Q3 25 | $1.5M | $27.6M | ||
| Q2 25 | $15.8M | $17.6M | ||
| Q1 25 | $12.4M | $8.4M | ||
| Q4 24 | $19.9M | $13.2M | ||
| Q3 24 | $9.0M | $27.5M | ||
| Q2 24 | $9.6M | $17.6M | ||
| Q1 24 | $7.0M | $13.7M |
| Q4 25 | 8.8% | 6.2% | ||
| Q3 25 | 1.9% | 10.7% | ||
| Q2 25 | 15.0% | 7.3% | ||
| Q1 25 | 8.4% | 3.8% | ||
| Q4 24 | 18.6% | 6.1% | ||
| Q3 24 | 12.4% | 11.4% | ||
| Q2 24 | 11.2% | 7.8% | ||
| Q1 24 | 5.2% | 6.5% |
| Q4 25 | 0.5% | 2.1% | ||
| Q3 25 | 0.4% | 2.2% | ||
| Q2 25 | 0.1% | 1.1% | ||
| Q1 25 | 0.1% | 0.8% | ||
| Q4 24 | 0.7% | 1.5% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.2% | 0.5% | ||
| Q1 24 | 0.2% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | 0.82× | 0.66× | ||
| Q4 24 | 4.04× | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | 0.66× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
