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Side-by-side financial comparison of GCM Grosvenor Inc. (GCMG) 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 $177.1M, roughly 1.4× GCM Grosvenor Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs 5.0%, a 27.9% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $14.9M). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% CAGR vs 7.1%).
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
GCMG vs OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $177.1M | $242.1M |
| Net Profit | $58.2M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 30.9% | 6.8% |
| Net Margin | 32.8% | 5.0% |
| Revenue YoY | 7.2% | 11.5% |
| Net Profit YoY | 149.2% | -16.2% |
| EPS (diluted) | $0.23 | $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 | $177.1M | $242.1M | ||
| Q3 25 | $135.0M | $258.5M | ||
| Q2 25 | $119.7M | $240.7M | ||
| Q1 25 | $125.8M | $219.6M | ||
| Q4 24 | $165.3M | $217.2M | ||
| Q3 24 | $122.9M | $241.7M | ||
| Q2 24 | $117.0M | $224.9M | ||
| Q1 24 | $108.9M | $211.2M |
| Q4 25 | $58.2M | $12.1M | ||
| Q3 25 | $10.5M | $24.3M | ||
| Q2 25 | $15.4M | $19.9M | ||
| Q1 25 | $463.0K | $15.3M | ||
| Q4 24 | $7.6M | $14.4M | ||
| Q3 24 | $4.2M | $21.6M | ||
| Q2 24 | $4.8M | $15.8M | ||
| Q1 24 | $2.1M | $21.2M |
| Q4 25 | 30.9% | 6.8% | ||
| Q3 25 | 32.7% | 10.2% | ||
| Q2 25 | 16.1% | 9.2% | ||
| Q1 25 | 12.2% | 7.7% | ||
| Q4 24 | 26.4% | 7.9% | ||
| Q3 24 | 20.3% | 10.3% | ||
| Q2 24 | 17.8% | 8.4% | ||
| Q1 24 | -14.7% | 8.0% |
| Q4 25 | 32.8% | 5.0% | ||
| Q3 25 | 7.8% | 9.4% | ||
| Q2 25 | 12.9% | 8.3% | ||
| Q1 25 | 0.4% | 7.0% | ||
| Q4 24 | 4.6% | 6.6% | ||
| Q3 24 | 3.4% | 8.9% | ||
| Q2 24 | 4.1% | 7.0% | ||
| Q1 24 | 2.0% | 10.0% |
| Q4 25 | $0.23 | $0.12 | ||
| Q3 25 | $0.16 | $0.23 | ||
| Q2 25 | $0.05 | $0.19 | ||
| Q1 25 | $-0.02 | $0.15 | ||
| Q4 24 | $0.09 | $0.13 | ||
| Q3 24 | $0.03 | $0.20 | ||
| Q2 24 | $0.04 | $0.15 | ||
| Q1 24 | $-0.13 | $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 | $242.1M | $16.3M |
| Total DebtLower is stronger | $428.4M | $84.0M |
| Stockholders' EquityBook value | $27.0M | $542.6M |
| Total Assets | $813.8M | $707.1M |
| Debt / EquityLower = less leverage | 15.87× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.1M | $16.3M | ||
| Q3 25 | $182.7M | $29.6M | ||
| Q2 25 | $136.3M | $35.0M | ||
| Q1 25 | $94.5M | $22.6M | ||
| Q4 24 | $89.5M | $57.4M | ||
| Q3 24 | $98.4M | $48.8M | ||
| Q2 24 | $73.9M | $62.5M | ||
| Q1 24 | $41.9M | $65.4M |
| Q4 25 | $428.4M | $84.0M | ||
| Q3 25 | $429.3M | $85.2M | ||
| Q2 25 | $430.2M | $96.2M | ||
| Q1 25 | $431.1M | $97.4M | ||
| Q4 24 | $432.0M | $98.6M | ||
| Q3 24 | $432.9M | $98.7M | ||
| Q2 24 | $433.8M | $123.8M | ||
| Q1 24 | $384.0M | $138.6M |
| Q4 25 | $27.0M | $542.6M | ||
| Q3 25 | $-7.4M | $552.8M | ||
| Q2 25 | $-12.3M | $548.3M | ||
| Q1 25 | $-28.3M | $530.6M | ||
| Q4 24 | $-27.6M | $554.5M | ||
| Q3 24 | $-31.9M | $540.1M | ||
| Q2 24 | $-28.5M | $532.7M | ||
| Q1 24 | $-26.4M | $515.5M |
| Q4 25 | $813.8M | $707.1M | ||
| Q3 25 | $685.9M | $732.6M | ||
| Q2 25 | $636.9M | $731.8M | ||
| Q1 25 | $579.8M | $708.7M | ||
| Q4 24 | $612.7M | $746.4M | ||
| Q3 24 | $575.0M | $734.0M | ||
| Q2 24 | $543.9M | $756.8M | ||
| Q1 24 | $497.3M | $763.6M |
| Q4 25 | 15.87× | 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 | $183.5M | $20.0M |
| Free Cash FlowOCF − Capex | $175.0M | $14.9M |
| FCF MarginFCF / Revenue | 98.8% | 6.2% |
| Capex IntensityCapex / Revenue | 4.8% | 2.1% |
| Cash ConversionOCF / Net Profit | 3.16× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $326.2M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.5M | $20.0M | ||
| Q3 25 | $79.8M | $33.2M | ||
| Q2 25 | $42.0M | $20.3M | ||
| Q1 25 | $33.3M | $10.1M | ||
| Q4 24 | $148.8M | $16.6M | ||
| Q3 24 | $69.0M | $28.6M | ||
| Q2 24 | $17.5M | $18.7M | ||
| Q1 24 | $24.2M | $15.0M |
| Q4 25 | $175.0M | $14.9M | ||
| Q3 25 | $78.3M | $27.6M | ||
| Q2 25 | $40.8M | $17.6M | ||
| Q1 25 | $32.1M | $8.4M | ||
| Q4 24 | $132.0M | $13.2M | ||
| Q3 24 | $62.2M | $27.5M | ||
| Q2 24 | $12.8M | $17.6M | ||
| Q1 24 | $20.0M | $13.7M |
| Q4 25 | 98.8% | 6.2% | ||
| Q3 25 | 58.0% | 10.7% | ||
| Q2 25 | 34.1% | 7.3% | ||
| Q1 25 | 25.5% | 3.8% | ||
| Q4 24 | 79.9% | 6.1% | ||
| Q3 24 | 50.6% | 11.4% | ||
| Q2 24 | 10.9% | 7.8% | ||
| Q1 24 | 18.4% | 6.5% |
| Q4 25 | 4.8% | 2.1% | ||
| Q3 25 | 1.1% | 2.2% | ||
| Q2 25 | 1.0% | 1.1% | ||
| Q1 25 | 0.9% | 0.8% | ||
| Q4 24 | 10.1% | 1.5% | ||
| Q3 24 | 5.5% | 0.5% | ||
| Q2 24 | 4.0% | 0.5% | ||
| Q1 24 | 3.9% | 0.6% |
| Q4 25 | 3.16× | 1.65× | ||
| Q3 25 | 7.61× | 1.36× | ||
| Q2 25 | 2.72× | 1.02× | ||
| Q1 25 | 71.84× | 0.66× | ||
| Q4 24 | 19.54× | 1.15× | ||
| Q3 24 | 16.60× | 1.33× | ||
| Q2 24 | 3.64× | 1.19× | ||
| Q1 24 | 11.40× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
