Added to YB: 2025-05-28
Pitch date: 2025-04-10
OSW [bullish]
OneSpaWorld Holdings Limited
+29.11%
current return
Author Info
No bio for this author
Company Info
OneSpaWorld Holdings Limited operates health and wellness centers onboard cruise ships and at destination resorts in the United States and internationally.
Market Cap
$2.2B
Pitch Price
$16.37
Price Target
30.00 (+47%)
Dividend
0.92%
EV/EBITDA
19.14
P/E
31.23
EV/Sales
2.45
Sector
Diversified Consumer Services
Category
growth
OneSpaWorld Holdings Limited - $OSW
OSW: Near-monopoly cruise spa operator with 90%+ market share; MSD+ growth with no capex, limited cyclicality (<10% GFC decline), 85% variable costs. HSD FCF conversion at <15x, returning all capital via dividends/buybacks. Trades at ~$16, PT $30 (2yrs). Less volatile than cruise operators due to rev-share model (50-55% to cruise lines). FCF growth $1.10→$1.50-1.75 by 2028. Risks: fleet growth slowdown, tax changes, COVID-type events.
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