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Side-by-side financial comparison of ICHOR HOLDINGS, LTD. (ICHR) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ICHOR HOLDINGS, LTD. is the larger business by last-quarter revenue ($256.1M vs $242.1M, roughly 1.1× ONESPAWORLD HOLDINGS Ltd). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -1.0%, a 5.9% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 4.7%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $-10.0M). Over the past eight quarters, ICHOR HOLDINGS, LTD.'s revenue compounded faster (12.3% CAGR vs 7.1%).
Ichor Holdings Ltd. designs, manufactures and supplies critical fluid delivery systems, subsystems and related components for the global semiconductor manufacturing sector. Its products are integrated into front-end wafer processing equipment, supporting production of advanced logic, memory and specialty chips for leading semiconductor device and equipment makers across North America, East Asia and Europe.
ICHR vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.1M | $242.1M |
| Net Profit | $-2.5M | $12.1M |
| Gross Margin | 12.6% | — |
| Operating Margin | 88.2% | 6.8% |
| Net Margin | -1.0% | 5.0% |
| Revenue YoY | 4.7% | 11.5% |
| Net Profit YoY | 45.8% | -16.2% |
| EPS (diluted) | $-0.07 | $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 | $256.1M | — | ||
| Q4 25 | $223.6M | $242.1M | ||
| Q3 25 | $239.3M | $258.5M | ||
| Q2 25 | $240.3M | $240.7M | ||
| Q1 25 | $244.5M | $219.6M | ||
| Q4 24 | $233.3M | $217.2M | ||
| Q3 24 | $211.1M | $241.7M | ||
| Q2 24 | $203.2M | $224.9M |
| Q1 26 | $-2.5M | — | ||
| Q4 25 | $-16.0M | $12.1M | ||
| Q3 25 | $-22.9M | $24.3M | ||
| Q2 25 | $-9.4M | $19.9M | ||
| Q1 25 | $-4.6M | $15.3M | ||
| Q4 24 | $-3.9M | $14.4M | ||
| Q3 24 | $-2.8M | $21.6M | ||
| Q2 24 | $-5.1M | $15.8M |
| Q1 26 | 12.6% | — | ||
| Q4 25 | 9.4% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 11.3% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 11.6% | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 12.6% | — |
| Q1 26 | 88.2% | — | ||
| Q4 25 | -6.2% | 6.8% | ||
| Q3 25 | -8.1% | 10.2% | ||
| Q2 25 | -2.0% | 9.2% | ||
| Q1 25 | -0.5% | 7.7% | ||
| Q4 24 | -0.5% | 7.9% | ||
| Q3 24 | -0.2% | 10.3% | ||
| Q2 24 | -1.1% | 8.4% |
| Q1 26 | -1.0% | — | ||
| Q4 25 | -7.1% | 5.0% | ||
| Q3 25 | -9.6% | 9.4% | ||
| Q2 25 | -3.9% | 8.3% | ||
| Q1 25 | -1.9% | 7.0% | ||
| Q4 24 | -1.7% | 6.6% | ||
| Q3 24 | -1.3% | 8.9% | ||
| Q2 24 | -2.5% | 7.0% |
| Q1 26 | $-0.07 | — | ||
| Q4 25 | $-0.46 | $0.12 | ||
| Q3 25 | $-0.67 | $0.23 | ||
| Q2 25 | $-0.28 | $0.19 | ||
| Q1 25 | $-0.13 | $0.15 | ||
| Q4 24 | $-0.11 | $0.13 | ||
| Q3 24 | $-0.08 | $0.20 | ||
| Q2 24 | $-0.15 | $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 | $89.1M | $16.3M |
| Total DebtLower is stronger | $6.3M | $84.0M |
| Stockholders' EquityBook value | $668.0M | $542.6M |
| Total Assets | $972.5M | $707.1M |
| Debt / EquityLower = less leverage | 0.01× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $89.1M | — | ||
| Q4 25 | $98.3M | $16.3M | ||
| Q3 25 | $92.5M | $29.6M | ||
| Q2 25 | $92.2M | $35.0M | ||
| Q1 25 | $109.3M | $22.6M | ||
| Q4 24 | $108.7M | $57.4M | ||
| Q3 24 | $116.4M | $48.8M | ||
| Q2 24 | $114.3M | $62.5M |
| Q1 26 | $6.3M | — | ||
| Q4 25 | $123.5M | $84.0M | ||
| Q3 25 | $123.5M | $85.2M | ||
| Q2 25 | $125.0M | $96.2M | ||
| Q1 25 | $126.8M | $97.4M | ||
| Q4 24 | $128.5M | $98.6M | ||
| Q3 24 | $130.3M | $98.7M | ||
| Q2 24 | $130.2M | $123.8M |
| Q1 26 | $668.0M | — | ||
| Q4 25 | $663.9M | $542.6M | ||
| Q3 25 | $676.2M | $552.8M | ||
| Q2 25 | $694.1M | $548.3M | ||
| Q1 25 | $700.4M | $530.6M | ||
| Q4 24 | $698.3M | $554.5M | ||
| Q3 24 | $697.3M | $540.1M | ||
| Q2 24 | $694.9M | $532.7M |
| Q1 26 | $972.5M | — | ||
| Q4 25 | $942.9M | $707.1M | ||
| Q3 25 | $966.6M | $732.6M | ||
| Q2 25 | $985.1M | $731.8M | ||
| Q1 25 | $1.0B | $708.7M | ||
| Q4 24 | $995.6M | $746.4M | ||
| Q3 24 | $975.9M | $734.0M | ||
| Q2 24 | $947.7M | $756.8M |
| Q1 26 | 0.01× | — | ||
| Q4 25 | 0.19× | 0.15× | ||
| Q3 25 | 0.18× | 0.15× | ||
| Q2 25 | 0.18× | 0.18× | ||
| Q1 25 | 0.18× | 0.18× | ||
| Q4 24 | 0.18× | 0.18× | ||
| Q3 24 | 0.19× | 0.18× | ||
| Q2 24 | 0.19× | 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 | $-10.0M | $14.9M |
| FCF MarginFCF / Revenue | -3.9% | 6.2% |
| Capex IntensityCapex / Revenue | 2.8% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.8M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $9.2M | $20.0M | ||
| Q3 25 | $9.2M | $33.2M | ||
| Q2 25 | $-7.5M | $20.3M | ||
| Q1 25 | $19.0M | $10.1M | ||
| Q4 24 | $-2.5M | $16.6M | ||
| Q3 24 | $8.1M | $28.6M | ||
| Q2 24 | $17.5M | $18.7M |
| Q1 26 | $-10.0M | — | ||
| Q4 25 | $5.9M | $14.9M | ||
| Q3 25 | $2.1M | $27.6M | ||
| Q2 25 | $-14.8M | $17.6M | ||
| Q1 25 | $496.0K | $8.4M | ||
| Q4 24 | $-6.9M | $13.2M | ||
| Q3 24 | $2.2M | $27.5M | ||
| Q2 24 | $14.6M | $17.6M |
| Q1 26 | -3.9% | — | ||
| Q4 25 | 2.6% | 6.2% | ||
| Q3 25 | 0.9% | 10.7% | ||
| Q2 25 | -6.2% | 7.3% | ||
| Q1 25 | 0.2% | 3.8% | ||
| Q4 24 | -3.0% | 6.1% | ||
| Q3 24 | 1.0% | 11.4% | ||
| Q2 24 | 7.2% | 7.8% |
| Q1 26 | 2.8% | — | ||
| Q4 25 | 1.5% | 2.1% | ||
| Q3 25 | 3.0% | 2.2% | ||
| Q2 25 | 3.0% | 1.1% | ||
| Q1 25 | 7.6% | 0.8% | ||
| Q4 24 | 1.9% | 1.5% | ||
| Q3 24 | 2.8% | 0.5% | ||
| Q2 24 | 1.4% | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICHR
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
