OneWater Marine Inc.
ONEW Consumer Cyclical Specialty Retail
OneWater Marine Inc.’s revenue for fiscal 2025 (year ended September 2025) was $1.9 billion, up 5.62% from fiscal 2024. In the quarter to June 2026, revenue fell 4.01%, EPS grew 6.06%, free cash flow fell 12.5% and total debt fell 16.8%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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OneWater Marine Inc. (ONEW) Piotroski F-score
OneWater Marine Inc.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 0.00 |
| FY2024 | 4 | 2.00 |
| FY2023 | 2 | (2.00) |
| FY2022 | 4 | (1.00) |
| FY2021 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (7.65%) | (0.35%) | Fail | 0 |
| Positive operating cash flow | 91.75m | 34.84m | Pass | 1 |
| Rising return on assets | (7.65%) | (0.35%) | Fail | 0 |
| Cash flow above net income | 206.34m | 40.54m | Pass | 1 |
| Falling long-term leverage | 0.22 | 0.25 | Pass | 1 |
| Rising current ratio | 1.14 | 1.28 | Fail | 0 |
| No new shares issued | 15,869,000 | 14,585,000 | Fail | 0 |
| Rising gross margin | 22.81% | 24.54% | Fail | 0 |
| Rising asset turnover | 1.25 | 1.08 | Pass | 1 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| HTLM HomesToLife Ltd compare | 6 |
| GRWG GrowGeneration Corp. compare | 6 |
| BBW Build-A-Bear Workshop, Inc. compare | 6 |
| ABLV Able View Global Inc. compare | 5 |
| BARK BARK, Inc. compare | 5 |
| CHPT ChargePoint Holdings, Inc. compare | 5 |
| FLWS 1-800 FLOWERS.COM, Inc. compare | 4 |
| ONEW OneWater Marine Inc. | 4 |
| NAAS NaaS Technology Inc. Sponsored ADR compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover