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Side-by-side financial comparison of LIQUIDITY SERVICES INC (LQDT) 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 $121.2M, roughly 2.0× LIQUIDITY SERVICES INC). LIQUIDITY SERVICES INC runs the higher net margin — 6.2% vs 5.0%, a 1.2% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs -0.9%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $-2.8M). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (15.1% CAGR vs 7.1%).
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
LQDT vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $121.2M | $242.1M |
| Net Profit | $7.5M | $12.1M |
| Gross Margin | 47.0% | — |
| Operating Margin | 7.7% | 6.8% |
| Net Margin | 6.2% | 5.0% |
| Revenue YoY | -0.9% | 11.5% |
| Net Profit YoY | 28.9% | -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 | $121.2M | $242.1M | ||
| Q3 25 | $118.1M | $258.5M | ||
| Q2 25 | $119.9M | $240.7M | ||
| Q1 25 | $116.4M | $219.6M | ||
| Q4 24 | $122.3M | $217.2M | ||
| Q3 24 | $106.9M | $241.7M | ||
| Q2 24 | $93.6M | $224.9M | ||
| Q1 24 | $91.5M | $211.2M |
| Q4 25 | $7.5M | $12.1M | ||
| Q3 25 | $7.8M | $24.3M | ||
| Q2 25 | $7.4M | $19.9M | ||
| Q1 25 | $7.1M | $15.3M | ||
| Q4 24 | $5.8M | $14.4M | ||
| Q3 24 | $6.4M | $21.6M | ||
| Q2 24 | $6.0M | $15.8M | ||
| Q1 24 | $5.7M | $21.2M |
| Q4 25 | 47.0% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 45.7% | — | ||
| Q1 25 | 40.8% | — | ||
| Q4 24 | 41.0% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 51.6% | — |
| Q4 25 | 7.7% | 6.8% | ||
| Q3 25 | 9.3% | 10.2% | ||
| Q2 25 | 8.5% | 9.2% | ||
| Q1 25 | 5.8% | 7.7% | ||
| Q4 24 | 5.8% | 7.9% | ||
| Q3 24 | 6.8% | 10.3% | ||
| Q2 24 | 8.4% | 8.4% | ||
| Q1 24 | 7.2% | 8.0% |
| Q4 25 | 6.2% | 5.0% | ||
| Q3 25 | 6.6% | 9.4% | ||
| Q2 25 | 6.2% | 8.3% | ||
| Q1 25 | 6.1% | 7.0% | ||
| Q4 24 | 4.7% | 6.6% | ||
| Q3 24 | 6.0% | 8.9% | ||
| Q2 24 | 6.4% | 7.0% | ||
| Q1 24 | 6.2% | 10.0% |
| Q4 25 | $0.23 | $0.12 | ||
| Q3 25 | $0.24 | $0.23 | ||
| Q2 25 | $0.23 | $0.19 | ||
| Q1 25 | $0.22 | $0.15 | ||
| Q4 24 | $0.18 | $0.13 | ||
| Q3 24 | $0.20 | $0.20 | ||
| Q2 24 | $0.19 | $0.15 | ||
| Q1 24 | $0.18 | $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 | $11.6M | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $215.3M | $542.6M |
| Total Assets | $369.1M | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.6M | $16.3M | ||
| Q3 25 | $11.2M | $29.6M | ||
| Q2 25 | $11.4M | $35.0M | ||
| Q1 25 | $10.5M | $22.6M | ||
| Q4 24 | $10.4M | $57.4M | ||
| Q3 24 | $2.3M | $48.8M | ||
| Q2 24 | $6.5M | $62.5M | ||
| Q1 24 | $8.4M | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | $215.3M | $542.6M | ||
| Q3 25 | $203.2M | $552.8M | ||
| Q2 25 | $208.7M | $548.3M | ||
| Q1 25 | $196.3M | $530.6M | ||
| Q4 24 | $189.2M | $554.5M | ||
| Q3 24 | $182.6M | $540.1M | ||
| Q2 24 | $172.0M | $532.7M | ||
| Q1 24 | $163.9M | $515.5M |
| Q4 25 | $369.1M | $707.1M | ||
| Q3 25 | $375.1M | $732.6M | ||
| Q2 25 | $372.4M | $731.8M | ||
| Q1 25 | $358.8M | $708.7M | ||
| Q4 24 | $333.2M | $746.4M | ||
| Q3 24 | $346.9M | $734.0M | ||
| Q2 24 | $325.5M | $756.8M | ||
| Q1 24 | $303.7M | $763.6M |
| Q4 25 | — | 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 | $-526.0K | $20.0M |
| Free Cash FlowOCF − Capex | $-2.8M | $14.9M |
| FCF MarginFCF / Revenue | -2.3% | 6.2% |
| Capex IntensityCapex / Revenue | 1.9% | 2.1% |
| Cash ConversionOCF / Net Profit | -0.07× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $70.1M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-526.0K | $20.0M | ||
| Q3 25 | $38.0M | $33.2M | ||
| Q2 25 | $19.3M | $20.3M | ||
| Q1 25 | $21.6M | $10.1M | ||
| Q4 24 | $-12.1M | $16.6M | ||
| Q3 24 | $22.0M | $28.6M | ||
| Q2 24 | $22.2M | $18.7M | ||
| Q1 24 | $34.8M | $15.0M |
| Q4 25 | $-2.8M | $14.9M | ||
| Q3 25 | $36.0M | $27.6M | ||
| Q2 25 | $17.2M | $17.6M | ||
| Q1 25 | $19.8M | $8.4M | ||
| Q4 24 | $-14.0M | $13.2M | ||
| Q3 24 | $19.2M | $27.5M | ||
| Q2 24 | $20.3M | $17.6M | ||
| Q1 24 | $32.5M | $13.7M |
| Q4 25 | -2.3% | 6.2% | ||
| Q3 25 | 30.5% | 10.7% | ||
| Q2 25 | 14.3% | 7.3% | ||
| Q1 25 | 17.0% | 3.8% | ||
| Q4 24 | -11.4% | 6.1% | ||
| Q3 24 | 17.9% | 11.4% | ||
| Q2 24 | 21.7% | 7.8% | ||
| Q1 24 | 35.5% | 6.5% |
| Q4 25 | 1.9% | 2.1% | ||
| Q3 25 | 1.7% | 2.2% | ||
| Q2 25 | 1.8% | 1.1% | ||
| Q1 25 | 1.6% | 0.8% | ||
| Q4 24 | 1.5% | 1.5% | ||
| Q3 24 | 2.7% | 0.5% | ||
| Q2 24 | 2.1% | 0.5% | ||
| Q1 24 | 2.6% | 0.6% |
| Q4 25 | -0.07× | 1.65× | ||
| Q3 25 | 4.86× | 1.36× | ||
| Q2 25 | 2.60× | 1.02× | ||
| Q1 25 | 3.07× | 0.66× | ||
| Q4 24 | -2.09× | 1.15× | ||
| Q3 24 | 3.45× | 1.33× | ||
| Q2 24 | 3.71× | 1.19× | ||
| Q1 24 | 6.10× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LQDT
| RSCG | $82.0M | 68% |
| Gov Deals | $22.3M | 18% |
| CAG | $11.5M | 9% |
| Machinio And Software Solutions Corporation | $5.5M | 5% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
