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Side-by-side financial comparison of MASIMO CORP (MASI) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $242.1M, roughly 1.5× ONESPAWORLD HOLDINGS Ltd). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -27.0%, a 32.0% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs -26.4%). MASIMO CORP produced more free cash flow last quarter ($50.9M vs $14.9M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
MASI vs OSW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $242.1M |
| Net Profit | $-100.4M | $12.1M |
| Gross Margin | 62.1% | — |
| Operating Margin | 22.5% | 6.8% |
| Net Margin | -27.0% | 5.0% |
| Revenue YoY | -26.4% | 11.5% |
| Net Profit YoY | -1124.5% | -16.2% |
| EPS (diluted) | $-1.84 | $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 | — | $242.1M | ||
| Q3 25 | $371.5M | $258.5M | ||
| Q2 25 | $370.9M | $240.7M | ||
| Q1 25 | $372.0M | $219.6M | ||
| Q4 24 | $600.7M | $217.2M | ||
| Q3 24 | $504.6M | $241.7M | ||
| Q2 24 | $496.3M | $224.9M | ||
| Q1 24 | $492.8M | $211.2M |
| Q4 25 | — | $12.1M | ||
| Q3 25 | $-100.4M | $24.3M | ||
| Q2 25 | $51.3M | $19.9M | ||
| Q1 25 | $-170.7M | $15.3M | ||
| Q4 24 | $-349.6M | $14.4M | ||
| Q3 24 | $9.8M | $21.6M | ||
| Q2 24 | $16.0M | $15.8M | ||
| Q1 24 | $18.9M | $21.2M |
| Q4 25 | — | — | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 62.9% | — | ||
| Q1 25 | 62.9% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 51.3% | — | ||
| Q1 24 | 49.0% | — |
| Q4 25 | — | 6.8% | ||
| Q3 25 | 22.5% | 10.2% | ||
| Q2 25 | 17.4% | 9.2% | ||
| Q1 25 | 21.0% | 7.7% | ||
| Q4 24 | -59.8% | 7.9% | ||
| Q3 24 | 6.0% | 10.3% | ||
| Q2 24 | 5.7% | 8.4% | ||
| Q1 24 | 6.9% | 8.0% |
| Q4 25 | — | 5.0% | ||
| Q3 25 | -27.0% | 9.4% | ||
| Q2 25 | 13.8% | 8.3% | ||
| Q1 25 | -45.9% | 7.0% | ||
| Q4 24 | -58.2% | 6.6% | ||
| Q3 24 | 1.9% | 8.9% | ||
| Q2 24 | 3.2% | 7.0% | ||
| Q1 24 | 3.8% | 10.0% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | $-1.84 | $0.23 | ||
| Q2 25 | $0.94 | $0.19 | ||
| Q1 25 | $-3.12 | $0.15 | ||
| Q4 24 | $-6.54 | $0.13 | ||
| Q3 24 | $0.18 | $0.20 | ||
| Q2 24 | $0.29 | $0.15 | ||
| Q1 24 | $0.35 | $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 | $312.3M | $16.3M |
| Total DebtLower is stronger | $559.1M | $84.0M |
| Stockholders' EquityBook value | $810.0M | $542.6M |
| Total Assets | $1.8B | $707.1M |
| Debt / EquityLower = less leverage | 0.69× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $16.3M | ||
| Q3 25 | $312.3M | $29.6M | ||
| Q2 25 | $149.6M | $35.0M | ||
| Q1 25 | $130.8M | $22.6M | ||
| Q4 24 | $177.6M | $57.4M | ||
| Q3 24 | $158.5M | $48.8M | ||
| Q2 24 | $129.6M | $62.5M | ||
| Q1 24 | $157.6M | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | $559.1M | $85.2M | ||
| Q2 25 | $613.7M | $96.2M | ||
| Q1 25 | $651.0M | $97.4M | ||
| Q4 24 | $765.2M | $98.6M | ||
| Q3 24 | $772.6M | $98.7M | ||
| Q2 24 | $781.6M | $123.8M | ||
| Q1 24 | $876.0M | $138.6M |
| Q4 25 | — | $542.6M | ||
| Q3 25 | $810.0M | $552.8M | ||
| Q2 25 | $1.0B | $548.3M | ||
| Q1 25 | $946.4M | $530.6M | ||
| Q4 24 | $1.1B | $554.5M | ||
| Q3 24 | $1.5B | $540.1M | ||
| Q2 24 | $1.4B | $532.7M | ||
| Q1 24 | $1.4B | $515.5M |
| Q4 25 | — | $707.1M | ||
| Q3 25 | $1.8B | $732.6M | ||
| Q2 25 | $2.4B | $731.8M | ||
| Q1 25 | $2.3B | $708.7M | ||
| Q4 24 | $2.6B | $746.4M | ||
| Q3 24 | $3.1B | $734.0M | ||
| Q2 24 | $2.9B | $756.8M | ||
| Q1 24 | $3.0B | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | 0.69× | 0.15× | ||
| Q2 25 | 0.59× | 0.18× | ||
| Q1 25 | 0.69× | 0.18× | ||
| Q4 24 | 0.73× | 0.18× | ||
| Q3 24 | 0.53× | 0.18× | ||
| Q2 24 | 0.57× | 0.23× | ||
| Q1 24 | 0.64× | 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 | $56.8M | $20.0M |
| Free Cash FlowOCF − Capex | $50.9M | $14.9M |
| FCF MarginFCF / Revenue | 13.7% | 6.2% |
| Capex IntensityCapex / Revenue | 1.6% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.0M | ||
| Q3 25 | $56.8M | $33.2M | ||
| Q2 25 | $69.4M | $20.3M | ||
| Q1 25 | $31.1M | $10.1M | ||
| Q4 24 | $50.5M | $16.6M | ||
| Q3 24 | $25.6M | $28.6M | ||
| Q2 24 | $74.5M | $18.7M | ||
| Q1 24 | $45.8M | $15.0M |
| Q4 25 | — | $14.9M | ||
| Q3 25 | $50.9M | $27.6M | ||
| Q2 25 | $65.6M | $17.6M | ||
| Q1 25 | $28.5M | $8.4M | ||
| Q4 24 | $46.0M | $13.2M | ||
| Q3 24 | $16.9M | $27.5M | ||
| Q2 24 | $66.9M | $17.6M | ||
| Q1 24 | $37.6M | $13.7M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | 13.7% | 10.7% | ||
| Q2 25 | 17.7% | 7.3% | ||
| Q1 25 | 7.7% | 3.8% | ||
| Q4 24 | 7.7% | 6.1% | ||
| Q3 24 | 3.3% | 11.4% | ||
| Q2 24 | 13.5% | 7.8% | ||
| Q1 24 | 7.6% | 6.5% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | 1.6% | 2.2% | ||
| Q2 25 | 1.0% | 1.1% | ||
| Q1 25 | 0.7% | 0.8% | ||
| Q4 24 | 0.7% | 1.5% | ||
| Q3 24 | 1.7% | 0.5% | ||
| Q2 24 | 1.5% | 0.5% | ||
| Q1 24 | 1.7% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | 1.35× | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | 2.61× | 1.33× | ||
| Q2 24 | 4.66× | 1.19× | ||
| Q1 24 | 2.42× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MASI
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
