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Side-by-side financial comparison of HCI Group, Inc. (HCI) and OneWater Marine Inc. (ONEW). Click either name above to swap in a different company.
OneWater Marine Inc. is the larger business by last-quarter revenue ($380.6M vs $246.2M, roughly 1.5× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs -2.0%, a 41.7% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 1.3%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $-78.2M). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs -11.7%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
OneWater Marine Inc. is a leading recreational marine retailer headquartered in the U.S. It sells new and pre-owned boats, yachts and marine parts, offers maintenance, repair and financing services, and serves individual and commercial leisure boating customers across North America through its extensive network of local dealerships.
HCI vs ONEW — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $380.6M |
| Net Profit | $97.7M | $-7.7M |
| Gross Margin | — | 23.5% |
| Operating Margin | 58.5% | -1.4% |
| Net Margin | 39.7% | -2.0% |
| Revenue YoY | 52.1% | 1.3% |
| Net Profit YoY | 3679.2% | 35.6% |
| EPS (diluted) | $7.29 | — |
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 | $246.2M | $380.6M | ||
| Q3 25 | $216.3M | $460.1M | ||
| Q2 25 | $221.9M | $552.9M | ||
| Q1 25 | $216.4M | $483.5M | ||
| Q4 24 | $161.9M | $375.8M | ||
| Q3 24 | $175.3M | $377.9M | ||
| Q2 24 | $206.2M | $542.4M | ||
| Q1 24 | $206.6M | $488.3M |
| Q4 25 | $97.7M | $-7.7M | ||
| Q3 25 | $65.5M | $-113.0M | ||
| Q2 25 | $66.2M | $10.7M | ||
| Q1 25 | $69.7M | $-368.0K | ||
| Q4 24 | $2.6M | $-12.0M | ||
| Q3 24 | $5.7M | $-9.2M | ||
| Q2 24 | $54.1M | $14.7M | ||
| Q1 24 | $47.6M | $-4.0M |
| Q4 25 | — | 23.5% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 24.4% | ||
| Q1 24 | — | 24.6% |
| Q4 25 | 58.5% | -1.4% | ||
| Q3 25 | 41.9% | -28.3% | ||
| Q2 25 | 42.5% | 5.5% | ||
| Q1 25 | 46.4% | 3.4% | ||
| Q4 24 | 3.6% | -0.5% | ||
| Q3 24 | 8.0% | 1.2% | ||
| Q2 24 | 36.9% | 7.4% | ||
| Q1 24 | 37.5% | 2.8% |
| Q4 25 | 39.7% | -2.0% | ||
| Q3 25 | 30.3% | -24.5% | ||
| Q2 25 | 29.8% | 1.9% | ||
| Q1 25 | 32.2% | -0.1% | ||
| Q4 24 | 1.6% | -3.2% | ||
| Q3 24 | 3.2% | -2.4% | ||
| Q2 24 | 26.2% | 2.7% | ||
| Q1 24 | 23.0% | -0.8% |
| Q4 25 | $7.29 | — | ||
| Q3 25 | $4.90 | — | ||
| Q2 25 | $5.18 | — | ||
| Q1 25 | $5.35 | — | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $0.52 | — | ||
| Q2 24 | $4.24 | — | ||
| Q1 24 | $3.81 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $277.5M |
| Total Assets | $2.5B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | — | ||
| Q3 25 | $987.9M | — | ||
| Q2 25 | $947.2M | — | ||
| Q1 25 | $754.5M | — | ||
| Q4 24 | $532.5M | — | ||
| Q3 24 | $518.8M | — | ||
| Q2 24 | $445.8M | — | ||
| Q1 24 | $655.4M | — |
| Q4 25 | $1.0B | $277.5M | ||
| Q3 25 | $821.8M | $285.0M | ||
| Q2 25 | $758.6M | $393.2M | ||
| Q1 25 | $522.7M | $381.6M | ||
| Q4 24 | $453.3M | $354.8M | ||
| Q3 24 | $455.3M | $360.8M | ||
| Q2 24 | $447.3M | $368.6M | ||
| Q1 24 | $395.7M | $351.7M |
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.4B | $1.5B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.2B | $1.6B | ||
| Q3 24 | $2.0B | $1.6B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.8B | $1.7B |
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 | $444.4M | $-76.3M |
| Free Cash FlowOCF − Capex | $440.8M | $-78.2M |
| FCF MarginFCF / Revenue | 179.0% | -20.6% |
| Capex IntensityCapex / Revenue | 1.5% | 0.5% |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $41.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $-76.3M | ||
| Q3 25 | $26.7M | $9.9M | ||
| Q2 25 | $145.0M | $90.8M | ||
| Q1 25 | $162.0M | $28.5M | ||
| Q4 24 | $331.8M | $-37.4M | ||
| Q3 24 | $104.1M | $27.3M | ||
| Q2 24 | $-29.0M | $93.8M | ||
| Q1 24 | $182.0M | $23.7M |
| Q4 25 | $440.8M | $-78.2M | ||
| Q3 25 | $25.9M | $7.2M | ||
| Q2 25 | $144.5M | $88.9M | ||
| Q1 25 | $160.3M | $23.7M | ||
| Q4 24 | $327.8M | $-40.0M | ||
| Q3 24 | $103.2M | $23.2M | ||
| Q2 24 | $-30.1M | $86.9M | ||
| Q1 24 | $181.0M | $13.8M |
| Q4 25 | 179.0% | -20.6% | ||
| Q3 25 | 12.0% | 1.6% | ||
| Q2 25 | 65.1% | 16.1% | ||
| Q1 25 | 74.1% | 4.9% | ||
| Q4 24 | 202.5% | -10.7% | ||
| Q3 24 | 58.9% | 6.1% | ||
| Q2 24 | -14.6% | 16.0% | ||
| Q1 24 | 87.6% | 2.8% |
| Q4 25 | 1.5% | 0.5% | ||
| Q3 25 | 0.4% | 0.6% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.8% | 1.0% | ||
| Q4 24 | 2.5% | 0.7% | ||
| Q3 24 | 0.5% | 1.1% | ||
| Q2 24 | 0.5% | 1.3% | ||
| Q1 24 | 0.5% | 2.0% |
| Q4 25 | 4.55× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 2.19× | 8.47× | ||
| Q1 25 | 2.32× | — | ||
| Q4 24 | 128.41× | — | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | 6.39× | ||
| Q1 24 | 3.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
ONEW
| New Sales | $233.3M | 61% |
| Pre Owned | $70.4M | 19% |
| Service Parts Other | $68.0M | 18% |
| Finance And Insurance Income | $8.9M | 2% |
