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Side-by-side financial comparison of NNN REIT, INC. (NNN) 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 $240.4M, roughly 1.0× NNN REIT, INC.). NNN REIT, INC. runs the higher net margin — 39.1% vs 5.0%, a 34.1% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 4.1%). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% CAGR vs 5.3%).
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
NNN vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.4M | $242.1M |
| Net Profit | $94.0M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 61.0% | 6.8% |
| Net Margin | 39.1% | 5.0% |
| Revenue YoY | 4.1% | 11.5% |
| Net Profit YoY | -2.6% | -16.2% |
| EPS (diluted) | $0.50 | $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 | $240.4M | — | ||
| Q4 25 | $238.4M | $242.1M | ||
| Q3 25 | $230.2M | $258.5M | ||
| Q2 25 | $226.8M | $240.7M | ||
| Q1 25 | $230.9M | $219.6M | ||
| Q4 24 | $218.5M | $217.2M | ||
| Q3 24 | $218.6M | $241.7M | ||
| Q2 24 | $216.8M | $224.9M |
| Q1 26 | $94.0M | — | ||
| Q4 25 | $96.0M | $12.1M | ||
| Q3 25 | $96.8M | $24.3M | ||
| Q2 25 | $100.5M | $19.9M | ||
| Q1 25 | $96.5M | $15.3M | ||
| Q4 24 | $97.9M | $14.4M | ||
| Q3 24 | $97.9M | $21.6M | ||
| Q2 24 | $106.7M | $15.8M |
| Q1 26 | 61.0% | — | ||
| Q4 25 | 62.3% | 6.8% | ||
| Q3 25 | 64.0% | 10.2% | ||
| Q2 25 | 66.0% | 9.2% | ||
| Q1 25 | 62.3% | 7.7% | ||
| Q4 24 | 65.8% | 7.9% | ||
| Q3 24 | 65.7% | 10.3% | ||
| Q2 24 | 70.2% | 8.4% |
| Q1 26 | 39.1% | — | ||
| Q4 25 | 40.2% | 5.0% | ||
| Q3 25 | 42.1% | 9.4% | ||
| Q2 25 | 44.3% | 8.3% | ||
| Q1 25 | 41.8% | 7.0% | ||
| Q4 24 | 44.8% | 6.6% | ||
| Q3 24 | 44.8% | 8.9% | ||
| Q2 24 | 49.2% | 7.0% |
| Q1 26 | $0.50 | — | ||
| Q4 25 | $0.51 | $0.12 | ||
| Q3 25 | $0.51 | $0.23 | ||
| Q2 25 | $0.54 | $0.19 | ||
| Q1 25 | $0.51 | $0.15 | ||
| Q4 24 | $0.52 | $0.13 | ||
| Q3 24 | $0.53 | $0.20 | ||
| Q2 24 | $0.58 | $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 | $4.6M | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $4.4B | $542.6M |
| Total Assets | $9.4B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $4.6M | — | ||
| Q4 25 | $5.0M | $16.3M | ||
| Q3 25 | $157.9M | $29.6M | ||
| Q2 25 | $6.0M | $35.0M | ||
| Q1 25 | $5.1M | $22.6M | ||
| Q4 24 | $8.7M | $57.4M | ||
| Q3 24 | $173.5M | $48.8M | ||
| Q2 24 | $2.1M | $62.5M |
| Q1 26 | — | — | ||
| 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 26 | $4.4B | — | ||
| Q4 25 | $4.4B | $542.6M | ||
| Q3 25 | $4.4B | $552.8M | ||
| Q2 25 | $4.4B | $548.3M | ||
| Q1 25 | $4.4B | $530.6M | ||
| Q4 24 | $4.4B | $554.5M | ||
| Q3 24 | $4.4B | $540.1M | ||
| Q2 24 | $4.2B | $532.7M |
| Q1 26 | $9.4B | — | ||
| Q4 25 | $9.4B | $707.1M | ||
| Q3 25 | $9.5B | $732.6M | ||
| Q2 25 | $9.1B | $731.8M | ||
| Q1 25 | $9.0B | $708.7M | ||
| Q4 24 | $8.9B | $746.4M | ||
| Q3 24 | $8.9B | $734.0M | ||
| Q2 24 | $8.7B | $756.8M |
| Q1 26 | — | — | ||
| 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× |
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 | — | $14.9M |
| FCF MarginFCF / Revenue | — | 6.2% |
| Capex IntensityCapex / Revenue | — | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $667.1M | $20.0M | ||
| Q3 25 | $218.3M | $33.2M | ||
| Q2 25 | $119.4M | $20.3M | ||
| Q1 25 | $203.3M | $10.1M | ||
| Q4 24 | $635.5M | $16.6M | ||
| Q3 24 | $206.6M | $28.6M | ||
| Q2 24 | $120.5M | $18.7M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 6.95× | 1.65× | ||
| Q3 25 | 2.25× | 1.36× | ||
| Q2 25 | 1.19× | 1.02× | ||
| Q1 25 | 2.11× | 0.66× | ||
| Q4 24 | 6.49× | 1.15× | ||
| Q3 24 | 2.11× | 1.33× | ||
| Q2 24 | 1.13× | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NNN
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
