vs
Side-by-side financial comparison of Hamilton Lane INC (HLNE) 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 $198.6M, roughly 1.2× Hamilton Lane INC). Hamilton Lane INC runs the higher net margin — 29.4% vs 5.0%, a 24.4% gap on every dollar of revenue. On growth, Hamilton Lane INC posted the faster year-over-year revenue change (18.0% vs 11.5%). Hamilton Lane INC produced more free cash flow last quarter ($72.4M vs $14.9M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% CAGR vs 6.0%).
Hamilton Lane Incorporated is an American alternative investment management and advisory company headquartered in Conshohocken, Pennsylvania. The company provides private markets investments to its clients.
HLNE vs OSW — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $198.6M | $242.1M |
| Net Profit | $58.4M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 60.5% | 6.8% |
| Net Margin | 29.4% | 5.0% |
| Revenue YoY | 18.0% | 11.5% |
| Net Profit YoY | 10.2% | -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.
| Q4 25 | $198.6M | $242.1M | ||
| Q3 25 | $190.9M | $258.5M | ||
| Q2 25 | $176.0M | $240.7M | ||
| Q1 25 | $198.0M | $219.6M | ||
| Q4 24 | $168.3M | $217.2M | ||
| Q3 24 | $150.0M | $241.7M | ||
| Q2 24 | $196.7M | $224.9M | ||
| Q1 24 | $176.7M | $211.2M |
| Q4 25 | $58.4M | $12.1M | ||
| Q3 25 | $70.9M | $24.3M | ||
| Q2 25 | $53.7M | $19.9M | ||
| Q1 25 | $50.5M | $15.3M | ||
| Q4 24 | $53.0M | $14.4M | ||
| Q3 24 | $55.0M | $21.6M | ||
| Q2 24 | $59.0M | $15.8M | ||
| Q1 24 | $48.4M | $21.2M |
| Q4 25 | 60.5% | 6.8% | ||
| Q3 25 | 61.6% | 10.2% | ||
| Q2 25 | 54.2% | 9.2% | ||
| Q1 25 | 44.6% | 7.7% | ||
| Q4 24 | 53.6% | 7.9% | ||
| Q3 24 | 51.4% | 10.3% | ||
| Q2 24 | 54.3% | 8.4% | ||
| Q1 24 | 55.0% | 8.0% |
| Q4 25 | 29.4% | 5.0% | ||
| Q3 25 | 37.1% | 9.4% | ||
| Q2 25 | 30.5% | 8.3% | ||
| Q1 25 | 25.5% | 7.0% | ||
| Q4 24 | 31.5% | 6.6% | ||
| Q3 24 | 36.7% | 8.9% | ||
| Q2 24 | 30.0% | 7.0% | ||
| Q1 24 | 27.4% | 10.0% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.19 | ||
| Q1 25 | — | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | — | $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 | — | $16.3M |
| Total DebtLower is stronger | $279.5M | $84.0M |
| Stockholders' EquityBook value | $877.4M | $542.6M |
| Total Assets | $2.2B | $707.1M |
| Debt / EquityLower = less leverage | 0.32× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $16.3M | ||
| Q3 25 | — | $29.6M | ||
| Q2 25 | — | $35.0M | ||
| Q1 25 | — | $22.6M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | — | $48.8M | ||
| Q2 24 | — | $62.5M | ||
| Q1 24 | — | $65.4M |
| Q4 25 | $279.5M | $84.0M | ||
| Q3 25 | $285.6M | $85.2M | ||
| Q2 25 | $288.6M | $96.2M | ||
| Q1 25 | $290.3M | $97.4M | ||
| Q4 24 | $292.0M | $98.6M | ||
| Q3 24 | $195.0M | $98.7M | ||
| Q2 24 | $195.6M | $123.8M | ||
| Q1 24 | $196.2M | $138.6M |
| Q4 25 | $877.4M | $542.6M | ||
| Q3 25 | $825.8M | $552.8M | ||
| Q2 25 | $758.8M | $548.3M | ||
| Q1 25 | $717.3M | $530.6M | ||
| Q4 24 | $649.3M | $554.5M | ||
| Q3 24 | $606.6M | $540.1M | ||
| Q2 24 | $566.4M | $532.7M | ||
| Q1 24 | $525.2M | $515.5M |
| Q4 25 | $2.2B | $707.1M | ||
| Q3 25 | $2.0B | $732.6M | ||
| Q2 25 | $1.8B | $731.8M | ||
| Q1 25 | $1.7B | $708.7M | ||
| Q4 24 | $1.6B | $746.4M | ||
| Q3 24 | $1.4B | $734.0M | ||
| Q2 24 | $1.4B | $756.8M | ||
| Q1 24 | $1.3B | $763.6M |
| Q4 25 | 0.32× | 0.15× | ||
| Q3 25 | 0.35× | 0.15× | ||
| Q2 25 | 0.38× | 0.18× | ||
| Q1 25 | 0.40× | 0.18× | ||
| Q4 24 | 0.45× | 0.18× | ||
| Q3 24 | 0.32× | 0.18× | ||
| Q2 24 | 0.35× | 0.23× | ||
| Q1 24 | 0.37× | 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 | $74.1M | $20.0M |
| Free Cash FlowOCF − Capex | $72.4M | $14.9M |
| FCF MarginFCF / Revenue | 36.5% | 6.2% |
| Capex IntensityCapex / Revenue | 0.8% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.27× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $606.5M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.1M | $20.0M | ||
| Q3 25 | $118.9M | $33.2M | ||
| Q2 25 | $128.9M | $20.3M | ||
| Q1 25 | $300.8M | $10.1M | ||
| Q4 24 | $64.4M | $16.6M | ||
| Q3 24 | $117.4M | $28.6M | ||
| Q2 24 | $79.7M | $18.7M | ||
| Q1 24 | $120.9M | $15.0M |
| Q4 25 | $72.4M | $14.9M | ||
| Q3 25 | $117.8M | $27.6M | ||
| Q2 25 | $127.6M | $17.6M | ||
| Q1 25 | $288.7M | $8.4M | ||
| Q4 24 | $58.8M | $13.2M | ||
| Q3 24 | $115.8M | $27.5M | ||
| Q2 24 | $78.2M | $17.6M | ||
| Q1 24 | $109.8M | $13.7M |
| Q4 25 | 36.5% | 6.2% | ||
| Q3 25 | 61.7% | 10.7% | ||
| Q2 25 | 72.5% | 7.3% | ||
| Q1 25 | 145.8% | 3.8% | ||
| Q4 24 | 34.9% | 6.1% | ||
| Q3 24 | 77.2% | 11.4% | ||
| Q2 24 | 39.8% | 7.8% | ||
| Q1 24 | 62.1% | 6.5% |
| Q4 25 | 0.8% | 2.1% | ||
| Q3 25 | 0.6% | 2.2% | ||
| Q2 25 | 0.8% | 1.1% | ||
| Q1 25 | 6.1% | 0.8% | ||
| Q4 24 | 3.3% | 1.5% | ||
| Q3 24 | 1.0% | 0.5% | ||
| Q2 24 | 0.8% | 0.5% | ||
| Q1 24 | 6.3% | 0.6% |
| Q4 25 | 1.27× | 1.65× | ||
| Q3 25 | 1.68× | 1.36× | ||
| Q2 25 | 2.40× | 1.02× | ||
| Q1 25 | 5.96× | 0.66× | ||
| Q4 24 | 1.22× | 1.15× | ||
| Q3 24 | 2.14× | 1.33× | ||
| Q2 24 | 1.35× | 1.19× | ||
| Q1 24 | 2.50× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLNE
| Management And Advisory Fee Revenue Specialized Funds | $98.5M | 50% |
| Incentive Fee Revenue Specialized Funds | $39.4M | 20% |
| Management And Advisory Fee Revenue Customized Separate Accounts | $36.1M | 18% |
| Management And Advisory Fee Revenue Reporting And Other | $9.3M | 5% |
| Incentive Fee Revenue Customized Separate Accounts | $5.9M | 3% |
| Management And Advisory Fee Revenue Advisory | $4.8M | 2% |
| Management And Advisory Fee Revenue Fund Reimbursement Revenue | $3.9M | 2% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
