OSW
OneSpaWorld Holdings Limited
Leisure
Market Cap$2.49B
5Y Perf.+275.8%
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Stock Comparison
OSW vs NCLH
Revenue, margins, valuation, and 5-year total return — side by side.
NCLH
Norwegian Cruise Line Holdings Ltd.
Travel Services
Market Cap$7.91B
5Y Perf.+10.0%
OSW vs NCLH — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | OSW | NCLH |
|---|---|---|
| Industry | Leisure | Travel Services |
| Market Cap | $2.49B | $7.91B |
| Revenue (TTM) | $989M | $10.03B |
| Net Income (TTM) | $78M | $568M |
| Gross Margin | 13.7% | 43.0% |
| Operating Margin | 9.4% | 15.9% |
| Forward P/E | 21.5x | 8.2x |
| Total Debt | $103M | $14.61B |
| Cash & Equiv. | $16M | $210M |
OSW vs NCLH — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
OSW
NCLH
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| OneSpaWorld Holding… (OSW) | 100 | 375.8 | +275.8% |
| Norwegian Cruise Li… (NCLH) | 100 | 110.0 | +10.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: OSW vs NCLH
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: OSW leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Norwegian Cruise Line Holdings Ltd. is the stronger pick specifically for valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
OSW
OneSpaWorld Holdings Limited
The Income Pick
OSW carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 2 yrs, beta 1.12, yield 0.7%
- Rev growth 7.4%, EPS growth 0.0%, 3Y rev CAGR 20.7%
- 157.2% 10Y total return vs NCLH's -65.0%
Best for: income & stability and growth exposure
NCLH
Norwegian Cruise Line Holdings Ltd.
The Value Play
NCLH is the clearest fit if your priority is value.
- Lower P/E (8.2x vs 21.5x)
Best for: value
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | OSW | 7.4% revenue growth vs NCLH's 3.7% |
| Value | NCLH | Lower P/E (8.2x vs 21.5x) |
| Quality / Margins | OSW | 7.9% margin vs NCLH's 5.7% |
| Stability / Safety | OSW | Beta 1.12 vs NCLH's 2.26, lower leverage |
| Dividends | OSW | 0.7% yield; 2-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | OSW | +32.7% vs NCLH's -0.5% |
| Efficiency (ROA) | OSW | 10.8% ROA vs NCLH's 2.5%, ROIC 10.6% vs 7.5% |
OSW vs NCLH — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
OSW vs NCLH — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLOSWLAGGINGNCLH
NCLHNorwegian Cruise Line…
1leads
OSWOneSpaWorld Holdings …
3leads
6 Total Categories
CATEGORYLEADERvs NCLHMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
NCLH5/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
OSW7/8
Total Returns1Y, 3Y, 5Y total returns with dividends
OSW6/6
Risk & VolatilityBeta, volatility, and downside exposure
OSW2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
Evenly matched — OSW and NCLH each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NCLH is the larger business by revenue, generating $10.0B annually — 10.1x OSW's $989M. Profitability is closely matched — net margins range from 7.9% (OSW) to 5.7% (NCLH). On growth, OSW holds the edge at +12.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | OSWOneSpaWorld Holdi… | NCLHNorwegian Cruise … |
|---|---|---|
| RevenueTrailing 12 months | $989M | $10.0B |
| EBITDAEarnings before interest/tax | $112M | $2.6B |
| Net IncomeAfter-tax profit | $78M | $568M |
| Free Cash FlowCash after capex | $65M | -$949M |
| Gross MarginGross profit ÷ Revenue | +13.7% | +43.0% |
| Operating MarginEBIT ÷ Revenue | +9.4% | +15.9% |
| Net MarginNet income ÷ Revenue | +7.9% | +5.7% |
| FCF MarginFCF ÷ Revenue | +6.6% | -9.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +12.7% | +9.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +40.0% | +3.5% |
Evenly matched — OSW and NCLH each lead in 3 of 6 comparable metrics.
Valuation Metrics
NCLH leads this category, winning 5 of 5 comparable metrics.
Valuation Metrics
At 19.1x trailing earnings, NCLH trades at a 46% valuation discount to OSW's 35.6x P/E. On an enterprise value basis, NCLH's 8.1x EV/EBITDA is more attractive than OSW's 22.9x.
| Metric | OSWOneSpaWorld Holdi… | NCLHNorwegian Cruise … |
|---|---|---|
| Market CapShares × price | $2.5B | $7.9B |
| Enterprise ValueMkt cap + debt − cash | $2.6B | $22.3B |
| Trailing P/EPrice ÷ TTM EPS | 35.62x | 19.13x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.53x | 8.20x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 22.87x | 8.14x |
| Price / SalesMarket cap ÷ Revenue | 2.59x | 0.80x |
| Price / BookPrice ÷ Book value/share | 4.70x | 3.58x |
| Price / FCFMarket cap ÷ FCF | 36.43x | — |
NCLH leads this category, winning 5 of 5 comparable metrics.
Profitability & Efficiency
OSW leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
NCLH delivers a 27.0% return on equity — every $100 of shareholder capital generates $27 in annual profit, vs $14 for OSW. OSW carries lower financial leverage with a 0.19x debt-to-equity ratio, signaling a more conservative balance sheet compared to NCLH's 6.61x.
| Metric | OSWOneSpaWorld Holdi… | NCLHNorwegian Cruise … |
|---|---|---|
| ROE (TTM)Return on equity | +14.1% | +27.0% |
| ROA (TTM)Return on assets | +10.8% | +2.5% |
| ROICReturn on invested capital | +10.6% | +7.5% |
| ROCEReturn on capital employed | +13.4% | +10.2% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 0.19x | 6.61x |
| Net DebtTotal debt minus cash | $86M | $14.4B |
| Cash & Equiv.Liquid assets | $16M | $210M |
| Total DebtShort + long-term debt | $103M | $14.6B |
| Interest CoverageEBIT ÷ Interest expense | 7.88x | 1.60x |
OSW leads this category, winning 7 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
OSW leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in OSW five years ago would be worth $23,628 today (with dividends reinvested), compared to $6,046 for NCLH. Over the past 12 months, OSW leads with a +32.7% total return vs NCLH's -0.5%. The 3-year compound annual growth rate (CAGR) favors OSW at 27.1% vs NCLH's 6.5% — a key indicator of consistent wealth creation.
| Metric | OSWOneSpaWorld Holdi… | NCLHNorwegian Cruise … |
|---|---|---|
| YTD ReturnYear-to-date | +19.3% | -24.4% |
| 1-Year ReturnPast 12 months | +32.7% | -0.5% |
| 3-Year ReturnCumulative with dividends | +105.5% | +20.8% |
| 5-Year ReturnCumulative with dividends | +136.3% | -39.5% |
| 10-Year ReturnCumulative with dividends | +157.2% | -65.0% |
| CAGR (3Y)Annualised 3-year return | +27.1% | +6.5% |
OSW leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
OSW leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
OSW is the less volatile stock with a 1.12 beta — it tends to amplify market swings less than NCLH's 2.26 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. OSW currently trades 95.5% from its 52-week high vs NCLH's 63.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | OSWOneSpaWorld Holdi… | NCLHNorwegian Cruise … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.12x | 2.26x |
| 52-Week HighHighest price in past year | $25.75 | $27.18 |
| 52-Week LowLowest price in past year | $18.19 | $16.87 |
| % of 52W HighCurrent price vs 52-week peak | +95.5% | +63.4% |
| RSI (14)Momentum oscillator 0–100 | 59.1 | 42.5 |
| Avg Volume (50D)Average daily shares traded | 842K | 21.8M |
OSW leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates OSW as "Buy" and NCLH as "Buy". Consensus price targets imply 40.4% upside for NCLH (target: $24) vs 11.9% for OSW (target: $28). OSW is the only dividend payer here at 0.69% yield — a key consideration for income-focused portfolios.
| Metric | OSWOneSpaWorld Holdi… | NCLHNorwegian Cruise … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $27.50 | $24.18 |
| # AnalystsCovering analysts | 11 | 37 |
| Dividend YieldAnnual dividend ÷ price | +0.7% | — |
| Dividend StreakConsecutive years of raises | 2 | — |
| Dividend / ShareAnnual DPS | $0.17 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.0% | +0.3% |
Insufficient data to determine a leader in this category.
Key Takeaway
OSW leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). NCLH leads in 1 (Valuation Metrics). 1 tied.
Best OverallOneSpaWorld Holdings Limited (OSW)Leads 3 of 6 categories
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OSW vs NCLH: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is OSW or NCLH a better buy right now?
For growth investors, OneSpaWorld Holdings Limited (OSW) is the stronger pick with 7.
4% revenue growth year-over-year, versus 3. 7% for Norwegian Cruise Line Holdings Ltd. (NCLH). Norwegian Cruise Line Holdings Ltd. (NCLH) offers the better valuation at 19. 1x trailing P/E (8. 2x forward), making it the more compelling value choice. Analysts rate OneSpaWorld Holdings Limited (OSW) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — OSW or NCLH?
On trailing P/E, Norwegian Cruise Line Holdings Ltd.
(NCLH) is the cheapest at 19. 1x versus OneSpaWorld Holdings Limited at 35. 6x. On forward P/E, Norwegian Cruise Line Holdings Ltd. is actually cheaper at 8. 2x.
03Which is the better long-term investment — OSW or NCLH?
Over the past 5 years, OneSpaWorld Holdings Limited (OSW) delivered a total return of +136.
3%, compared to -39. 5% for Norwegian Cruise Line Holdings Ltd. (NCLH). Over 10 years, the gap is even starker: OSW returned +157. 2% versus NCLH's -65. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — OSW or NCLH?
By beta (market sensitivity over 5 years), OneSpaWorld Holdings Limited (OSW) is the lower-risk stock at 1.
12β versus Norwegian Cruise Line Holdings Ltd. 's 2. 26β — meaning NCLH is approximately 102% more volatile than OSW relative to the S&P 500. On balance sheet safety, OneSpaWorld Holdings Limited (OSW) carries a lower debt/equity ratio of 19% versus 7% for Norwegian Cruise Line Holdings Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — OSW or NCLH?
By revenue growth (latest reported year), OneSpaWorld Holdings Limited (OSW) is pulling ahead at 7.
4% versus 3. 7% for Norwegian Cruise Line Holdings Ltd. (NCLH). On earnings-per-share growth, the picture is similar: OneSpaWorld Holdings Limited grew EPS 0. 0% year-over-year, compared to -52. 4% for Norwegian Cruise Line Holdings Ltd.. Over a 3-year CAGR, NCLH leads at 26. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — OSW or NCLH?
OneSpaWorld Holdings Limited (OSW) is the more profitable company, earning 7.
5% net margin versus 4. 3% for Norwegian Cruise Line Holdings Ltd. — meaning it keeps 7. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NCLH leads at 16. 2% versus 9. 1% for OSW. At the gross margin level — before operating expenses — NCLH leads at 32. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is OSW or NCLH more undervalued right now?
On forward earnings alone, Norwegian Cruise Line Holdings Ltd.
(NCLH) trades at 8. 2x forward P/E versus 21. 5x for OneSpaWorld Holdings Limited — 13. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NCLH: 40. 4% to $24. 18.
08Which pays a better dividend — OSW or NCLH?
In this comparison, OSW (0.
7% yield) pays a dividend. NCLH does not pay a meaningful dividend and should not be held primarily for income.
09Is OSW or NCLH better for a retirement portfolio?
For long-horizon retirement investors, OneSpaWorld Holdings Limited (OSW) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.
12), 0. 7% yield, +157. 2% 10Y return). Norwegian Cruise Line Holdings Ltd. (NCLH) carries a higher beta of 2. 26 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (OSW: +157. 2%, NCLH: -65. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between OSW and NCLH?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
OSW pays a dividend while NCLH does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(OSW: 12.7% · NCLH: 9.6%)Net Margin>
%
(OSW: 7.9% · NCLH: 5.7%)P/E Ratio<
x
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