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Side-by-side financial comparison of H2O AMERICA (HTO) 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 $199.4M, roughly 1.2× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs 5.0%, a 3.2% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 7.1%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
HTO vs OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $242.1M |
| Net Profit | $16.2M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 6.8% |
| Net Margin | 8.1% | 5.0% |
| Revenue YoY | 1.5% | 11.5% |
| Net Profit YoY | -29.2% | -16.2% |
| EPS (diluted) | $0.45 | $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 | $199.4M | $242.1M | ||
| Q3 25 | $243.5M | $258.5M | ||
| Q2 25 | $197.8M | $240.7M | ||
| Q1 25 | $164.9M | $219.6M | ||
| Q4 24 | $196.5M | $217.2M | ||
| Q3 24 | $216.7M | $241.7M | ||
| Q2 24 | $173.1M | $224.9M | ||
| Q1 24 | $150.0M | $211.2M |
| Q4 25 | $16.2M | $12.1M | ||
| Q3 25 | $45.1M | $24.3M | ||
| Q2 25 | $24.7M | $19.9M | ||
| Q1 25 | $16.6M | $15.3M | ||
| Q4 24 | $22.9M | $14.4M | ||
| Q3 24 | $38.7M | $21.6M | ||
| Q2 24 | $20.7M | $15.8M | ||
| Q1 24 | $11.7M | $21.2M |
| Q4 25 | 16.6% | 6.8% | ||
| Q3 25 | 26.5% | 10.2% | ||
| Q2 25 | 22.2% | 9.2% | ||
| Q1 25 | 21.8% | 7.7% | ||
| Q4 24 | 22.2% | 7.9% | ||
| Q3 24 | 26.9% | 10.3% | ||
| Q2 24 | 23.4% | 8.4% | ||
| Q1 24 | 18.6% | 8.0% |
| Q4 25 | 8.1% | 5.0% | ||
| Q3 25 | 18.5% | 9.4% | ||
| Q2 25 | 12.5% | 8.3% | ||
| Q1 25 | 10.0% | 7.0% | ||
| Q4 24 | 11.7% | 6.6% | ||
| Q3 24 | 17.8% | 8.9% | ||
| Q2 24 | 12.0% | 7.0% | ||
| Q1 24 | 7.8% | 10.0% |
| Q4 25 | $0.45 | $0.12 | ||
| Q3 25 | $1.27 | $0.23 | ||
| Q2 25 | $0.71 | $0.19 | ||
| Q1 25 | $0.49 | $0.15 | ||
| Q4 24 | $0.70 | $0.13 | ||
| Q3 24 | $1.17 | $0.20 | ||
| Q2 24 | $0.64 | $0.15 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $16.3M |
| Total DebtLower is stronger | $1.9B | $84.0M |
| Stockholders' EquityBook value | $1.5B | $542.6M |
| Total Assets | $5.1B | $707.1M |
| Debt / EquityLower = less leverage | 1.23× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $16.3M | ||
| Q3 25 | $11.3M | $29.6M | ||
| Q2 25 | $19.8M | $35.0M | ||
| Q1 25 | $23.7M | $22.6M | ||
| Q4 24 | $11.1M | $57.4M | ||
| Q3 24 | $4.0M | $48.8M | ||
| Q2 24 | $22.8M | $62.5M | ||
| Q1 24 | $4.5M | $65.4M |
| Q4 25 | $1.9B | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | $1.7B | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | $1.5B | $542.6M | ||
| Q3 25 | $1.5B | $552.8M | ||
| Q2 25 | $1.5B | $548.3M | ||
| Q1 25 | $1.4B | $530.6M | ||
| Q4 24 | $1.4B | $554.5M | ||
| Q3 24 | $1.3B | $540.1M | ||
| Q2 24 | $1.3B | $532.7M | ||
| Q1 24 | $1.2B | $515.5M |
| Q4 25 | $5.1B | $707.1M | ||
| Q3 25 | $5.0B | $732.6M | ||
| Q2 25 | $4.8B | $731.8M | ||
| Q1 25 | $4.7B | $708.7M | ||
| Q4 24 | $4.7B | $746.4M | ||
| Q3 24 | $4.6B | $734.0M | ||
| Q2 24 | $4.4B | $756.8M | ||
| Q1 24 | $4.4B | $763.6M |
| Q4 25 | 1.23× | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | 1.26× | 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 | $63.5M | $20.0M |
| Free Cash FlowOCF − Capex | — | $14.9M |
| FCF MarginFCF / Revenue | — | 6.2% |
| Capex IntensityCapex / Revenue | — | 2.1% |
| Cash ConversionOCF / Net Profit | 3.92× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $20.0M | ||
| Q3 25 | $77.3M | $33.2M | ||
| Q2 25 | $60.8M | $20.3M | ||
| Q1 25 | $43.2M | $10.1M | ||
| Q4 24 | $41.5M | $16.6M | ||
| Q3 24 | $53.5M | $28.6M | ||
| Q2 24 | $49.3M | $18.7M | ||
| Q1 24 | $51.2M | $15.0M |
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $17.6M | ||
| Q1 24 | — | $13.7M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 6.5% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.6% |
| Q4 25 | 3.92× | 1.65× | ||
| Q3 25 | 1.71× | 1.36× | ||
| Q2 25 | 2.47× | 1.02× | ||
| Q1 25 | 2.61× | 0.66× | ||
| Q4 24 | 1.81× | 1.15× | ||
| Q3 24 | 1.39× | 1.33× | ||
| Q2 24 | 2.38× | 1.19× | ||
| Q1 24 | 4.38× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
