Immersion vs Onewater Marine
Immersion and Onewater Marine are similar in size: $1.73bn and $1.87bn of revenue in their latest fiscal years. Immersion grew faster (11.2% against 5.6%). Immersion kept more of each dollar of sales as profit: a net margin of 0.3% against -6.1%.
| Latest fiscal year | ImmersionIMMR, 2026 | Onewater MarineONEW, 2025 |
|---|---|---|
| Revenue | $1.73bn | $1.87bn |
| Revenue growth | 11.2% | 5.6% |
| Net income | $4.5m | −$115m |
| Operating margin | — | -4.6% |
| Net margin | 0.3% | -6.1% |
| Return on equity | 1.5% | -35.5% |
| Free cash flow | $42.9m | $79.7m |
| Cash | $138m | $64.8m |
| Total debt | $71.0m | $416m |
| Debt to equity | — | 146.0% |
| Dividend per share | — | — |
| Dividend yield | 4.5% | — |
| Share buybacks | $10,000 | $0 |
| Employees | — | 2,231 |
| Market value | $235m | $172m |
| Price vs our value range | — | Below our value range |
| Moat score | 41 (Weak) | 31 (Weak) |
| Insider trades, 12 months | 4 buys, 9 sales | 5 buys, 20 sales |