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Side-by-side financial comparison of OneWater Marine Inc. (ONEW) and Rackspace Technology, Inc. (RXT). Click either name above to swap in a different company.
Rackspace Technology, Inc. is the larger business by last-quarter revenue ($682.8M vs $380.6M, roughly 1.8× OneWater Marine Inc.). OneWater Marine Inc. runs the higher net margin — -2.0% vs -4.8%, a 2.8% gap on every dollar of revenue. On growth, OneWater Marine Inc. posted the faster year-over-year revenue change (1.3% vs -0.4%). Rackspace Technology, Inc. produced more free cash flow last quarter ($56.0M vs $-78.2M). Over the past eight quarters, Rackspace Technology, Inc.'s revenue compounded faster (-0.6% CAGR vs -11.7%).
OneWater Marine Inc. is a leading recreational marine retailer headquartered in the U.S. It sells new and pre-owned boats, yachts and marine parts, offers maintenance, repair and financing services, and serves individual and commercial leisure boating customers across North America through its extensive network of local dealerships.
Rackspace Technology, Inc. is an American cloud computing company based in San Antonio, Texas. It also has offices in Reston, Virginia, as well as in Australia, Canada, United Kingdom, India, Dubai, Switzerland, the Netherlands, Germany, Singapore, Mexico, Toronto and Hong Kong. Its data centers are located in Amsterdam (Netherlands), Virginia (USA), Chicago (USA), Dallas (USA), London (UK), Frankfurt (Germany), Hong Kong (China), Kansas City (USA), New York City (USA), San Jose (USA), Shangh...
ONEW vs RXT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $380.6M | $682.8M |
| Net Profit | $-7.7M | $-32.7M |
| Gross Margin | 23.5% | 17.6% |
| Operating Margin | -1.4% | -0.5% |
| Net Margin | -2.0% | -4.8% |
| Revenue YoY | 1.3% | -0.4% |
| Net Profit YoY | 35.6% | 41.6% |
| EPS (diluted) | — | $-0.13 |
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 | $380.6M | $682.8M | ||
| Q3 25 | $460.1M | $671.2M | ||
| Q2 25 | $552.9M | $666.3M | ||
| Q1 25 | $483.5M | $665.4M | ||
| Q4 24 | $375.8M | $685.6M | ||
| Q3 24 | $377.9M | $675.8M | ||
| Q2 24 | $542.4M | $684.9M | ||
| Q1 24 | $488.3M | $690.8M |
| Q4 25 | $-7.7M | $-32.7M | ||
| Q3 25 | $-113.0M | $-67.1M | ||
| Q2 25 | $10.7M | $-54.5M | ||
| Q1 25 | $-368.0K | $-71.5M | ||
| Q4 24 | $-12.0M | $-56.0M | ||
| Q3 24 | $-9.2M | $-186.6M | ||
| Q2 24 | $14.7M | $25.0M | ||
| Q1 24 | $-4.0M | $-640.6M |
| Q4 25 | 23.5% | 17.6% | ||
| Q3 25 | 22.6% | 19.4% | ||
| Q2 25 | 23.3% | 19.4% | ||
| Q1 25 | 22.8% | 19.1% | ||
| Q4 24 | 22.4% | 19.2% | ||
| Q3 24 | 24.0% | 20.3% | ||
| Q2 24 | 24.4% | 19.2% | ||
| Q1 24 | 24.6% | 19.2% |
| Q4 25 | -1.4% | -0.5% | ||
| Q3 25 | -28.3% | -5.1% | ||
| Q2 25 | 5.5% | -3.8% | ||
| Q1 25 | 3.4% | -5.8% | ||
| Q4 24 | -0.5% | -4.2% | ||
| Q3 24 | 1.2% | -25.7% | ||
| Q2 24 | 7.4% | -7.9% | ||
| Q1 24 | 2.8% | -94.5% |
| Q4 25 | -2.0% | -4.8% | ||
| Q3 25 | -24.5% | -10.0% | ||
| Q2 25 | 1.9% | -8.2% | ||
| Q1 25 | -0.1% | -10.7% | ||
| Q4 24 | -3.2% | -8.2% | ||
| Q3 24 | -2.4% | -27.6% | ||
| Q2 24 | 2.7% | 3.7% | ||
| Q1 24 | -0.8% | -92.7% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.28 | ||
| Q2 25 | — | $-0.23 | ||
| Q1 25 | — | $-0.31 | ||
| Q4 24 | — | $-0.20 | ||
| Q3 24 | — | $-0.82 | ||
| Q2 24 | — | $0.11 | ||
| Q1 24 | — | $-2.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $105.8M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $277.5M | $-1.2B |
| Total Assets | $1.4B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $105.8M | ||
| Q3 25 | — | $99.5M | ||
| Q2 25 | — | $103.9M | ||
| Q1 25 | — | $128.0M | ||
| Q4 24 | — | $144.0M | ||
| Q3 24 | — | $157.1M | ||
| Q2 24 | — | $190.2M | ||
| Q1 24 | — | $282.6M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $3.0B |
| Q4 25 | $277.5M | $-1.2B | ||
| Q3 25 | $285.0M | $-1.2B | ||
| Q2 25 | $393.2M | $-1.1B | ||
| Q1 25 | $381.6M | $-1.1B | ||
| Q4 24 | $354.8M | $-1.0B | ||
| Q3 24 | $360.8M | $-949.7M | ||
| Q2 24 | $368.6M | $-756.2M | ||
| Q1 24 | $351.7M | $-787.2M |
| Q4 25 | $1.4B | $2.8B | ||
| Q3 25 | $1.4B | $2.8B | ||
| Q2 25 | $1.5B | $2.9B | ||
| Q1 25 | $1.6B | $3.0B | ||
| Q4 24 | $1.6B | $3.1B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.6B | $3.4B | ||
| Q1 24 | $1.7B | $3.5B |
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 | $-76.3M | $59.7M |
| Free Cash FlowOCF − Capex | $-78.2M | $56.0M |
| FCF MarginFCF / Revenue | -20.6% | 8.2% |
| Capex IntensityCapex / Revenue | 0.5% | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.6M | $90.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-76.3M | $59.7M | ||
| Q3 25 | $9.9M | $70.7M | ||
| Q2 25 | $90.8M | $8.4M | ||
| Q1 25 | $28.5M | $12.6M | ||
| Q4 24 | $-37.4M | $54.3M | ||
| Q3 24 | $27.3M | $51.8M | ||
| Q2 24 | $93.8M | $24.1M | ||
| Q1 24 | $23.7M | $-90.3M |
| Q4 25 | $-78.2M | $56.0M | ||
| Q3 25 | $7.2M | $42.7M | ||
| Q2 25 | $88.9M | $-12.4M | ||
| Q1 25 | $23.7M | $4.3M | ||
| Q4 24 | $-40.0M | $34.4M | ||
| Q3 24 | $23.2M | $27.3M | ||
| Q2 24 | $86.9M | $-14.5M | ||
| Q1 24 | $13.8M | $-118.4M |
| Q4 25 | -20.6% | 8.2% | ||
| Q3 25 | 1.6% | 6.4% | ||
| Q2 25 | 16.1% | -1.9% | ||
| Q1 25 | 4.9% | 0.6% | ||
| Q4 24 | -10.7% | 5.0% | ||
| Q3 24 | 6.1% | 4.0% | ||
| Q2 24 | 16.0% | -2.1% | ||
| Q1 24 | 2.8% | -17.1% |
| Q4 25 | 0.5% | 0.5% | ||
| Q3 25 | 0.6% | 4.2% | ||
| Q2 25 | 0.4% | 3.1% | ||
| Q1 25 | 1.0% | 1.2% | ||
| Q4 24 | 0.7% | 2.9% | ||
| Q3 24 | 1.1% | 3.6% | ||
| Q2 24 | 1.3% | 5.6% | ||
| Q1 24 | 2.0% | 4.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 8.47× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.39× | 0.96× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONEW
| New Sales | $233.3M | 61% |
| Pre Owned | $70.4M | 19% |
| Service Parts Other | $68.0M | 18% |
| Finance And Insurance Income | $8.9M | 2% |
RXT
| Public Cloud Services Segment | $442.2M | 65% |
| Private Cloud Service Segment | $240.6M | 35% |
