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Side-by-side financial comparison of FEDERATED HERMES, INC. (FHI) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
FEDERATED HERMES, INC. is the larger business by last-quarter revenue ($479.0M vs $242.1M, roughly 2.0× ONESPAWORLD HOLDINGS Ltd). FEDERATED HERMES, INC. runs the higher net margin — 20.1% vs 5.0%, a 15.1% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs -0.8%). Over the past eight quarters, FEDERATED HERMES, INC.'s revenue compounded faster (9.1% CAGR vs 7.1%).
Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $902.6 billion of customer assets, as of December 2025. The company offers investments spanning equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies, including mutual funds, exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clie...
FHI vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.0M | $242.1M |
| Net Profit | $96.4M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 26.4% | 6.8% |
| Net Margin | 20.1% | 5.0% |
| Revenue YoY | -0.8% | 11.5% |
| Net Profit YoY | — | -16.2% |
| EPS (diluted) | — | $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 | $479.0M | — | ||
| Q4 25 | $482.8M | $242.1M | ||
| Q3 25 | $469.4M | $258.5M | ||
| Q2 25 | $424.8M | $240.7M | ||
| Q1 25 | $423.5M | $219.6M | ||
| Q4 24 | $424.7M | $217.2M | ||
| Q3 24 | $408.5M | $241.7M | ||
| Q2 24 | $402.6M | $224.9M |
| Q1 26 | $96.4M | — | ||
| Q4 25 | $107.0M | $12.1M | ||
| Q3 25 | $104.1M | $24.3M | ||
| Q2 25 | $91.0M | $19.9M | ||
| Q1 25 | $101.1M | $15.3M | ||
| Q4 24 | $84.7M | $14.4M | ||
| Q3 24 | $87.5M | $21.6M | ||
| Q2 24 | $21.0M | $15.8M |
| Q1 26 | 26.4% | — | ||
| Q4 25 | 28.1% | 6.8% | ||
| Q3 25 | 27.6% | 10.2% | ||
| Q2 25 | 27.6% | 9.2% | ||
| Q1 25 | 31.1% | 7.7% | ||
| Q4 24 | 26.0% | 7.9% | ||
| Q3 24 | 27.4% | 10.3% | ||
| Q2 24 | 10.1% | 8.4% |
| Q1 26 | 20.1% | — | ||
| Q4 25 | 22.2% | 5.0% | ||
| Q3 25 | 22.2% | 9.4% | ||
| Q2 25 | 21.4% | 8.3% | ||
| Q1 25 | 23.9% | 7.0% | ||
| Q4 24 | 19.9% | 6.6% | ||
| Q3 24 | 21.4% | 8.9% | ||
| Q2 24 | 5.2% | 7.0% |
| Q1 26 | — | — | ||
| Q4 25 | $1.38 | $0.12 | ||
| Q3 25 | $1.34 | $0.23 | ||
| Q2 25 | $1.16 | $0.19 | ||
| Q1 25 | $1.25 | $0.15 | ||
| Q4 24 | $1.08 | $0.13 | ||
| Q3 24 | $1.06 | $0.20 | ||
| Q2 24 | $0.20 | $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 | — | $16.3M |
| Total DebtLower is stronger | $348.4M | $84.0M |
| Stockholders' EquityBook value | $100.8B | $542.6M |
| Total Assets | $2.1B | $707.1M |
| Debt / EquityLower = less leverage | 0.00× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $582.5M | $16.3M | ||
| Q3 25 | $506.3M | $29.6M | ||
| Q2 25 | $371.0M | $35.0M | ||
| Q1 25 | $387.6M | $22.6M | ||
| Q4 24 | $504.4M | $57.4M | ||
| Q3 24 | $375.0M | $48.8M | ||
| Q2 24 | $307.4M | $62.5M |
| Q1 26 | $348.4M | — | ||
| Q4 25 | $348.4M | $84.0M | ||
| Q3 25 | $348.3M | $85.2M | ||
| Q2 25 | $348.2M | $96.2M | ||
| Q1 25 | $348.2M | $97.4M | ||
| Q4 24 | $348.1M | $98.6M | ||
| Q3 24 | $348.0M | $98.7M | ||
| Q2 24 | $348.0M | $123.8M |
| Q1 26 | $100.8B | — | ||
| Q4 25 | $1.2B | $542.6M | ||
| Q3 25 | $1.2B | $552.8M | ||
| Q2 25 | $1.1B | $548.3M | ||
| Q1 25 | $1.1B | $530.6M | ||
| Q4 24 | $1.1B | $554.5M | ||
| Q3 24 | $1.1B | $540.1M | ||
| Q2 24 | $1.0B | $532.7M |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $707.1M | ||
| Q3 25 | $2.2B | $732.6M | ||
| Q2 25 | $2.2B | $731.8M | ||
| Q1 25 | $2.0B | $708.7M | ||
| Q4 24 | $2.1B | $746.4M | ||
| Q3 24 | $2.0B | $734.0M | ||
| Q2 24 | $1.9B | $756.8M |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.29× | 0.15× | ||
| Q3 25 | 0.29× | 0.15× | ||
| Q2 25 | 0.31× | 0.18× | ||
| Q1 25 | 0.32× | 0.18× | ||
| Q4 24 | 0.32× | 0.18× | ||
| Q3 24 | 0.32× | 0.18× | ||
| Q2 24 | 0.34× | 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 | $297.3M | $20.0M | ||
| Q3 25 | $103.1M | $33.2M | ||
| Q2 25 | $18.8M | $20.3M | ||
| Q1 25 | $14.3M | $10.1M | ||
| Q4 24 | $346.6M | $16.6M | ||
| Q3 24 | $117.1M | $28.6M | ||
| Q2 24 | $88.7M | $18.7M |
| Q1 26 | — | — | ||
| Q4 25 | $294.6M | $14.9M | ||
| Q3 25 | $101.6M | $27.6M | ||
| Q2 25 | $18.0M | $17.6M | ||
| Q1 25 | $13.3M | $8.4M | ||
| Q4 24 | $342.5M | $13.2M | ||
| Q3 24 | $114.1M | $27.5M | ||
| Q2 24 | $82.7M | $17.6M |
| Q1 26 | — | — | ||
| Q4 25 | 61.0% | 6.2% | ||
| Q3 25 | 21.6% | 10.7% | ||
| Q2 25 | 4.2% | 7.3% | ||
| Q1 25 | 3.1% | 3.8% | ||
| Q4 24 | 80.7% | 6.1% | ||
| Q3 24 | 27.9% | 11.4% | ||
| Q2 24 | 20.5% | 7.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 2.1% | ||
| Q3 25 | 0.3% | 2.2% | ||
| Q2 25 | 0.2% | 1.1% | ||
| Q1 25 | 0.2% | 0.8% | ||
| Q4 24 | 0.9% | 1.5% | ||
| Q3 24 | 0.7% | 0.5% | ||
| Q2 24 | 1.5% | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.78× | 1.65× | ||
| Q3 25 | 0.99× | 1.36× | ||
| Q2 25 | 0.21× | 1.02× | ||
| Q1 25 | 0.14× | 0.66× | ||
| Q4 24 | 4.09× | 1.15× | ||
| Q3 24 | 1.34× | 1.33× | ||
| Q2 24 | 4.22× | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHI
| Investment advisory fees, net | $319.4M | 67% |
| Administrative service fees, net-affiliates | $110.3M | 23% |
| Other | $49.3M | 10% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
