Onewater Marine Inc. Financials
Onewater Marine Inc. (ONEW) reported $1.9B in revenue for fiscal year 2025, up 5.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
An inventory-heavy model is now funding cash flow through working-capital release rather than through healthy operating margins.
Between FY2024 and FY2025, free cash flow improved from$8.9M to$79.7M . But the net loss widened sharply, showing that stronger cash flow came mainly from lower inventory and receivables rather than from a healthier earnings engine, so recent cash generation reflects working-capital release more than operating recovery.
Since FY2022, revenue has stayed in a similar band, but gross margin compression from
The balance sheet still shows short-term coverage, but the current ratio slipped to 1.1x while debt to equity remained about 1.2x in FY2025. With equity down to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Onewater Marine Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Onewater Marine Inc. has an operating margin of -4.6%, meaning the company loses $5 on every $100 of revenue. This results in a profitability score of 33/100. This is down from 3.7% the prior year.
Onewater Marine Inc.'s revenue grew 5.6% year-over-year to $1.9B, a solid pace of expansion. This earns a growth score of 27/100.
Onewater Marine Inc. has a moderate D/E ratio of 1.17. This balance of debt and equity financing earns a leverage score of 43/100.
Onewater Marine Inc.'s current ratio of 1.14 is below the typical benchmark, resulting in a score of 26/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Onewater Marine Inc. has a free cash flow margin of 4.3%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.
Onewater Marine Inc. posts a -40.2% return on equity (ROE), meaning it loses $40 for every $100 of shareholders' equity. This results in a returns score of 28/100. This is down from -1.6% the prior year.
Onewater Marine Inc. scores 1.36, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Onewater Marine Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Onewater Marine Inc. reported a net loss of $114.6M while generating $91.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Onewater Marine Inc. reported an operating loss of $85.5M against $36.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Onewater Marine Inc. generated $1.9B in revenue in fiscal year 2025. This represents an increase of 5.6% from the prior year.
Onewater Marine Inc.'s EBITDA was -$61.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 170.1% from the prior year.
Onewater Marine Inc. reported -$114.6M in net income in fiscal year 2025. This represents a decrease of 1908.4% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Onewater Marine Inc. generated $79.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 793.8% from the prior year.
Onewater Marine Inc. held $64.8M in cash against $334.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Onewater Marine Inc.'s gross margin was 22.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.7 percentage points from the prior year.
Onewater Marine Inc.'s operating margin was -4.6% in fiscal year 2025, reflecting core business profitability. This is down 8.2 percentage points from the prior year.
Onewater Marine Inc.'s net profit margin was -6.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.8 percentage points from the prior year.
Onewater Marine Inc.'s ROE was -40.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 38.6 percentage points from the prior year.
Capital Allocation
Onewater Marine Inc. repurchased no shares in fiscal year 2025.
Onewater Marine Inc. invested $12.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 53.6% from the prior year.
Not reported for fiscal year 2025.
ONEW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B+5.6% | $1.8B-8.5% | $1.9B+11.0% | $1.7B+42.1% | $1.2B+20.1% | $1.0B | N/A | N/A |
| Cost of Revenue | $1.4B | $1.4B+8.1% | $1.3B-4.5% | $1.4B+17.6% | $1.2B+36.8% | $870.8M+10.6% | $787.4M | N/A | N/A |
| Gross Profit | $426.3M | $427.0M-1.8% | $435.1M-18.7% | $535.1M-3.3% | $553.7M+54.9% | $357.5M+51.8% | $235.5M | N/A | N/A |
| SG&A Expenses | $338.6M | $343.3M+3.2% | $332.7M-3.7% | $345.5M+14.4% | $302.1M+51.8% | $199.0M+38.6% | $143.6M | N/A | N/A |
| Operating Income | -$92.0M | -$85.5M-231.8% | $64.8M+258.8% | $18.1M-91.7% | $217.8M+46.3% | $148.9M+90.2% | $78.3M | N/A | N/A |
| Interest Expense | $32.1M | $36.2M-2.3% | $37.0M+7.2% | $34.6M+161.8% | $13.2M+203.9% | $4.3M-50.8% | $8.8M | N/A | N/A |
| Income Tax | -$31.0M | -$35.3M-22384.7% | -$157K+95.4% | -$3.4M-107.9% | $43.2M+67.5% | $25.8M+307.7% | $6.3M | N/A | N/A |
| Net Income | -$121.9M | -$114.6M-1908.4% | -$5.7M+85.2% | -$38.6M-129.5% | $130.9M+65.6% | $79.1M+353.7% | $17.4M-53.2% | $37.3M+1814.9% | $1.9M |
| EPS (Diluted) | — | N/A | N/A | N/A | N/A | N/A | $2.77 | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ONEW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B-11.7% | $1.6B-5.9% | $1.7B+12.8% | $1.5B+107.8% | $720.6M+57.3% | $458.1M-9.2% | $504.8M | N/A |
| Current Assets | $719.2M-7.5% | $777.4M-11.9% | $881.9M+55.6% | $566.9M+101.8% | $280.9M+11.5% | $252.1M-19.8% | $314.1M | N/A |
| Cash & Equivalents | $64.8M+137.1% | $27.3M-70.7% | $93.3M+53.1% | $60.9M-17.6% | $73.9M+8.5% | $68.2M+493.0% | $11.5M-27.1% | $15.8M |
| Inventory | $539.8M-8.6% | $590.8M-3.1% | $609.6M+63.5% | $373.0M+159.2% | $143.9M-4.2% | $150.1M-45.9% | $277.3M | N/A |
| Accounts Receivable | $60.9M-16.9% | $73.3M-35.3% | $113.2M+95.3% | $58.0M+103.2% | $28.5M+54.4% | $18.5M+20.8% | $15.3M | N/A |
| Goodwill | $259.0M-23.1% | $336.6M0.0% | $336.6M-11.1% | $378.6M+124.7% | $168.5M+49.0% | $113.1M0.0% | $113.1M+17.5% | $96.2M |
| Total Liabilities | $1.1B-6.7% | $1.2B-5.9% | $1.3B+21.1% | $1.1B+126.0% | $465.8M+63.6% | $284.8M-25.2% | $380.8M | N/A |
| Current Liabilities | $631.3M+3.9% | $607.7M-9.2% | $669.0M+48.0% | $452.1M+98.6% | $227.6M+22.6% | $185.7M-29.5% | $263.5M | N/A |
| Long-Term Debt | $334.2M-19.5% | $414.9M-3.2% | $428.4M+1.7% | $421.2M+308.6% | $103.1M+25.7% | $82.0M+26.5% | $64.8M | N/A |
| Total Equity | $285.0M-21.0% | $360.8M+0.6% | $358.6M-6.9% | $385.3M+70.6% | $225.9M+83.9% | $122.9M+286.7% | $31.8M+50.9% | $21.1M |
| Retained Earnings | $45.0M-71.8% | $159.6M-3.5% | $165.4M-19.3% | $204.9M+173.3% | $75.0M+347.3% | $16.8M | $0 | N/A |
ONEW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $66.4M | $91.8M+163.4% | $34.8M+126.8% | -$129.8M-1842.4% | $7.4M-95.3% | $159.4M-25.0% | $212.5M+3811.4% | -$5.7M-34.7% | -$4.3M |
| Capital Expenditures | $9.7M | $12.0M-53.6% | $25.9M+22.0% | $21.3M+86.4% | $11.4M+15.2% | $9.9M+56.9% | $6.3M-13.5% | $7.3M-28.1% | $10.1M |
| Free Cash Flow | $56.8M | $79.7M+793.8% | $8.9M+105.9% | -$151.0M-3717.3% | -$4.0M-102.6% | $149.5M-27.5% | $206.2M+1684.0% | -$13.0M+9.5% | -$14.4M |
| Investing Cash Flow | $38.6M | -$11.6M-187.1% | $13.3M+125.8% | -$51.6M+89.2% | -$476.8M-307.1% | -$117.1M-2407.1% | -$4.7M+57.5% | -$11.0M+54.0% | -$23.9M |
| Financing Cash Flow | -$108.1M | -$42.6M+62.7% | -$114.1M-153.4% | $213.7M-53.2% | $456.4M+1350.5% | -$36.5M+75.9% | -$151.1M-1313.2% | $12.5M-63.6% | $34.3M |
| Dividends Paid | N/A | N/A | N/A | $0 | $0-100.0% | $1.0M | $0 | $0 | N/A |
| Share Buybacks | N/A | $0 | $0-100.0% | $1.6M+346.0% | $354K | $0 | $0 | N/A | N/A |
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ONEW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.8%-1.7pp | 24.5%-3.1pp | 27.6%-4.1pp | 31.7%+2.6pp | 29.1%+6.1pp | 23.0% | N/A | N/A |
| Operating Margin | -4.6%-8.2pp | 3.7%+2.7pp | 0.9%-11.5pp | 12.5%+0.4pp | 12.1%+4.5pp | 7.6% | N/A | N/A |
| Net Margin | -6.1%-5.8pp | -0.3%+1.7pp | -2.0%-9.5pp | 7.5%+1.1pp | 6.4%+4.7pp | 1.7% | N/A | N/A |
| Return on Equity | -40.2%-38.6pp | -1.6%+9.2pp | -10.8%-44.7pp | 34.0%-1.0pp | 35.0%+20.8pp | 14.2%-103.1pp | 117.3%+108.0pp | 9.2% |
| Return on Assets | -8.2%-7.8pp | -0.4%+1.9pp | -2.3%-11.0pp | 8.7%-2.2pp | 11.0%+7.2pp | 3.8%-3.6pp | 7.4% | N/A |
| Current Ratio | 1.14-0.1x | 1.280.0x | 1.32+0.1x | 1.250.0x | 1.23-0.1x | 1.36+0.2x | 1.19 | N/A |
| Debt-to-Equity | 1.170.0x | 1.150.0x | 1.19+0.1x | 1.09+0.6x | 0.46-0.2x | 0.67-1.4x | 2.04 | N/A |
| FCF Margin | 4.3%+3.8pp | 0.5%+8.3pp | -7.8%-7.6pp | -0.2%-12.4pp | 12.2%-8.0pp | 20.2% | N/A | N/A |
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Where Onewater Marine Inc. Ranks
Frequently Asked Questions
What is Onewater Marine Inc.'s annual revenue?
Onewater Marine Inc. (ONEW) reported $1.9B in total revenue for fiscal year 2025. This represents a 5.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Onewater Marine Inc.'s revenue growing?
Onewater Marine Inc. (ONEW) revenue grew by 5.6% year-over-year, from $1.8B to $1.9B in fiscal year 2025.
Is Onewater Marine Inc. profitable?
No, Onewater Marine Inc. (ONEW) reported a net income of -$114.6M in fiscal year 2025, with a net profit margin of -6.1%.
What is Onewater Marine Inc.'s EBITDA?
Onewater Marine Inc. (ONEW) had EBITDA of -$61.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Onewater Marine Inc. have?
As of fiscal year 2025, Onewater Marine Inc. (ONEW) had $64.8M in cash and equivalents against $334.2M in long-term debt.
What is Onewater Marine Inc.'s gross margin?
Onewater Marine Inc. (ONEW) had a gross margin of 22.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Onewater Marine Inc.'s operating margin?
Onewater Marine Inc. (ONEW) had an operating margin of -4.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Onewater Marine Inc.'s net profit margin?
Onewater Marine Inc. (ONEW) had a net profit margin of -6.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Onewater Marine Inc.'s return on equity (ROE)?
Onewater Marine Inc. (ONEW) has a return on equity of -40.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Onewater Marine Inc.'s free cash flow?
Onewater Marine Inc. (ONEW) generated $79.7M in free cash flow during fiscal year 2025. This represents a 793.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Onewater Marine Inc.'s operating cash flow?
Onewater Marine Inc. (ONEW) generated $91.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Onewater Marine Inc.'s total assets?
Onewater Marine Inc. (ONEW) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Onewater Marine Inc.'s capital expenditures?
Onewater Marine Inc. (ONEW) invested $12.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Onewater Marine Inc.'s current ratio?
Onewater Marine Inc. (ONEW) had a current ratio of 1.14 as of fiscal year 2025, which is considered adequate.
What is Onewater Marine Inc.'s debt-to-equity ratio?
Onewater Marine Inc. (ONEW) had a debt-to-equity ratio of 1.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Onewater Marine Inc.'s return on assets (ROA)?
Onewater Marine Inc. (ONEW) had a return on assets of -8.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Onewater Marine Inc.'s Altman Z-Score?
Onewater Marine Inc. (ONEW) has an Altman Z-Score of 1.36, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Onewater Marine Inc.'s Piotroski F-Score?
Onewater Marine Inc. (ONEW) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Onewater Marine Inc.'s earnings high quality?
Onewater Marine Inc. (ONEW) reported a net loss of $114.6M while generating $91.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Onewater Marine Inc. cover its interest payments?
Onewater Marine Inc. (ONEW) reported an operating loss of $85.5M against $36.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Onewater Marine Inc.?
Onewater Marine Inc. (ONEW) scores 31 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.