Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| OneWater Marine Inc.ONEW · shops | |
|---|---|
| Grade |  Dfourth fifth of 258 graded peers; percentile 69.3, sampling error 2.9 points; lower is stronger |
| Rank | 179 of 258 |
| Profitability | Cpercentile 54.9 |
| Solvency | Dpercentile 64.4 |
| Growth and financing | Cpercentile 56.7 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.4B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: dilution, short runway, distress, fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Dec 15, 2025298 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $9.632026-10-08; market equity $0; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Dec 15, 2025; the document on sec.gov.
OneWater Marine Inc. (“OneWater Inc.”) is a holding company and the sole managing member of One Water Marine Holdings, LLC (“OneWater LLC”), which became the principal operating subsidiary of OneWater Inc. on February 11, 2020 in the corporate reorganization (the “Reorganization”) completed in connection with OneWater Inc.’s initial public offering (the “IPO”), which closed on February 11, 2020. Except as otherwise indicated or required by the context, all references in this Annual Report on Form 10-K to the “Company,” “OneWater,” “we,” “us” or “our” relate to OneWater Inc. and its consolidated subsidiaries.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 54.9 | |||||||
| Gross profitability | 30.4% | [1-3] | 42.6% | 66.8 | 242 | 2025-09-30 | |
| Return on invested capital | not computable | 10.9% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | (13.8%) | [1,4-6] | (4.9%) | 16.8 | 287 | 2025-09-30 | |
| Gross margin stability, five years | 3.2 pts | [2-3,7-14] | 1.2 pts | 81.2 | 219 | 2025-09-30 | |
| Solvency, sleeve percentile 64.4 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| liabilities and a nearby cover-page share count are required at 2026-06-30 | |||||||
| Altman Z double-prime | 0.37 | [1,15-20] | 1.92 | 65.2 | 208 | 2025-09-30 | |
| Net debt to EBITDA | not computable | 1.84x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | 2.26x | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 1.14x | [15-16] | 1.37x | 63.6 | 295 | 2025-09-30 | |
| Growth and financing, sleeve percentile 56.7 | |||||||
| Revenue growth, three-year compound | 2.4% | [2,7,9,11] | 1.5% | 44.4 | 269 | 2025-09-30 | |
| Free cash flow growth, three-year compound | not computable | 5.6% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 7.3% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | (2.1%) | [1,6,21-22] | 3.4% | 69.0 | 272 | 2025-09-30 | |
| Net share issuance, one year | not computable | (0.6%) | |||||
| two annual share counts are required; found 0 | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.180; sampling error 2.9 percentile points on 258 peers.
Among 258 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 174 | Aspen Aerogels Inc. (ASPN) Aspen Aerogels Inc. (ASPN) Dfourth fifth; percentile 67.3 NYSE · Wholesale-Lumber & Other Construction Materials market equity $467.2M; last close $5.62 Warnings: fortress balance sheet; 8 of 14 inputs | 67.3 | D | fortress balance sheet |
| 175 | Star Group, L.P. (SGU) Star Group, L.P. (SGU) Dfourth fifth; percentile 67.7 NYSE · Retail-Retail Stores, NEC market equity $426.2M; last close $12.91 No active warnings; 11 of 14 inputs | 67.7 | D | |
| 176 | Arko Corp. (ARKO) Arko Corp. (ARKO) Dfourth fifth; percentile 68.1 Nasdaq · Retail-Convenience Stores market equity $462.2M; last close $4.11 No active warnings; 12 of 14 inputs | 68.1 | D | |
| 177 | Bloomin' Brands, Inc. (BLMN) Bloomin' Brands, Inc. (BLMN) Dfourth fifth; percentile 68.5 Nasdaq · Retail-Eating Places market equity $726.1M; last close $8.47 No active warnings; 10 of 14 inputs | 68.5 | D | |
| 178 | Educational Development Corp. (EDUC) Educational Development Corp. (EDUC) Dfourth fifth; percentile 68.9 Nasdaq · Wholesale-Miscellaneous Nondurable Goods market equity $11.1M; last close $1.30 Warnings: fortress balance sheet; 7 of 14 inputs | 68.9 | D | fortress balance sheet |
| 179 | OneWater Marine Inc. (ONEW) OneWater Marine Inc. (ONEW) Dfourth fifth; percentile 69.3 Nasdaq · Retail-Auto & Home Supply Stores last close $9.63 No active warnings; 7 of 14 inputs | 69.3 | D | |
| 180 | Lands' END, Inc. (LE) Lands' END, Inc. (LE) Dfourth fifth; percentile 69.6 Nasdaq · Retail-Family Clothing Stores market equity $307.0M; last close $10.49 Warnings: short runway; 9 of 14 inputs | 69.6 | D | short runway |
| 181 | Willis Lease Finance Corp. (WLFC) Willis Lease Finance Corp. (WLFC) Dfourth fifth; percentile 70.0 Nasdaq · Wholesale-Machinery, Equipment & Supplies market equity $846.0M; last close $39.99 No active warnings; 8 of 14 inputs | 70.0 | D | |
| 182 | Builders FirstSource, Inc. (BLDR) Builders FirstSource, Inc. (BLDR) Dfourth fifth; percentile 70.4 NYSE · Retail-Lumber & Other Building Materials Dealers market equity $5.8B; last close $53.80 No active warnings; 12 of 14 inputs | 70.4 | D | |
| 183 | Wendy's Co. (WEN) Wendy's Co. (WEN) Dfourth fifth; percentile 70.8 Nasdaq · Retail-Eating & Drinking Places market equity $1.2B; last close $6.23 No active warnings; 12 of 14 inputs | 70.8 | D | |
| 184 | Ingram Micro Holding Corp. (INGM) Ingram Micro Holding Corp. (INGM) Dfourth fifth; percentile 71.2 NYSE · Wholesale-Computers & Peripheral Equipment & Software market equity $6.4B; last close $27.59 No active warnings; 8 of 14 inputs | 71.2 | D |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | D | 68.0 | 2204 |
| sector peers, equal sleeves (the grade) | D | 69.3 | 258 |
| same exchange, equal sleeves | D | 66.9 | 1219 |
| sector peers, equal inputs | D | 71.6 | 258 |
Each letter is one fifth of the 258 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (24.3%) | (0.1%) | 25 | hotter than 25 of 100 peers |
| Distance from 52-week high | (43.3%) | (24.1%) | 23 | closer to its high than 23 of 100 peers |
| EBIT to enterprise value | not computable | 5.3% | required accounting or market input is missing | |
| Free cash flow yield | not computable | 4.2% | required accounting or market input is missing | |
| Book value to price | not computable | 0.36 | required accounting or market input is missing | |
| Sales to price | not computable | 1.75 | required accounting or market input is missing | |
| Composite equity issuance, five years | not computable | (16.7%) | required accounting or market input is missing | |
| Relative strength against the sector, log excess return | (0.25) | 0.02 | 25 | ahead of 25 of 100 peers |
Inputs: EBIT -$85.5M; free cash flow $79.7M; book equity $286.1M; sales $1.9B[23].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-09-30 | ||
|---|---|---|
| Return on assets above zero | (7.2%) | ✗ fail[4,6] |
| Operating cash flow above zero | $91.8M | ✓ pass[5] |
| Return on assets improved | (6.9 pts) | ✗ fail[4,6,21,24] |
| Operating cash flow exceeds net income | $206.3M | ✓ pass[4-5] |
| Long-term leverage fell | (3.0 pts) | ✓ pass[1,6,21,25-26] |
| Current ratio improved | (14.0 pts) | ✗ fail[15-16,27-28] |
| No new shares issued | n/a | |
| Gross margin improved | (1.7 pts) | ✗ fail[2-3,7-8] |
| Asset turnover improved | 12.8 pts | ✓ pass[2,6-7,21] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[5,29-32] |
| Months of runway | not finite |
| cash is missing at the end of the latest cash-flow quarter | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 70 |
| 10-Q received Jul 31, 2026 | |
| Median daily dollar volume | $951,771 |
| 63 sessions | |
| Days since newest grade input | 298 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.4B | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.9B | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 3 | cost of revenue | us-gaap:CostOfRevenue | $1.4B | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | -$114.6M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $91.8M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $1.6B | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 7 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.8B | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 8 | cost of revenue | us-gaap:CostOfRevenue | $1.3B | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 9 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.9B | 2023-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 10 | cost of revenue | us-gaap:CostOfRevenue | $1.4B | 2023-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 11 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2022-09-30 | 2024-12-10 | 10-K | filing · viewer · series |
| 12 | cost of revenue | us-gaap:CostOfRevenue | $1.2B | 2022-09-30 | 2024-12-10 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.2B | 2021-09-30 | 2023-12-14 | 10-K | filing · viewer · series |
| 14 | cost of revenue | us-gaap:CostOfRevenue | $870.8M | 2021-09-30 | 2023-12-14 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $719.2M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $631.3M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $45.0M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | -$85.5M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $285.0M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $1.1B | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 21 | assets | us-gaap:Assets | $1.7B | 2023-09-30 | 2024-12-10 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $1.5B | 2022-09-30 | 2024-12-10 | 10-K | filing · viewer · series |
| 23 | shares outstanding | us-gaap:CommonStockSharesOutstanding | 1,000 | 2019-12-31 | 2020-03-20 | 10-Q | filing · viewer · series |
| 24 | net income | us-gaap:NetIncomeLoss | -$5.7M | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 25 | long term debt | us-gaap:LongTermDebtNoncurrent | $334.2M | 2025-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 26 | long term debt | us-gaap:LongTermDebtNoncurrent | $414.9M | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $777.4M | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $607.7M | 2024-09-30 | 2025-12-15 | 10-K | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $56.5M | 2026-06-30 | 2026-07-31 | 10-Q | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$23.8M | 2026-03-31 | 2026-05-04 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$76.3M | 2025-12-31 | 2026-02-09 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $81.8M | 2025-06-30 | 2026-07-31 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 69.3 is 9.3 points from the nearest band edge; sampling error is 2.9 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
