Wheels Up Experience Inc. (UP) 10-Year Financial Performance & Capital Metrics

UP • • Industrial / General

IndustrialsAirlines & AirportsPrivate & Business AviationPrivate Jet Operators

AboutWheels Up Experience Inc. provides private aviation services primarily in the United States. The company offers a suite of products and services, which include multi-tiered membership programs, on-demand flights across various private aircraft cabin categories, aircraft management, retail and wholesale charter, whole aircraft acquisitions and sales, corporate flight solutions, special missions, signature events and experiences, and commercial travel. It operates a fleet of approximately 1,500 aircraft. The company was founded in 2013 and is headquartered in New York, New York.Show more

Revenue $792M -36.8%
EBITDA -$202M +47.5%
Net Income -$340M +30.3%
EPS (Diluted) -0.49 +69.0%
Gross Margin 7.45% +347.6%
EBITDA Margin -25.53% +16.9%
Operating Margin -32.67% +7.7%
Net Margin -42.88% -10.3%
ROE -
ROIC -166.59% +36.7%
Debt/Equity -
Interest Coverage -3.96 +63.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 15.5%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y15.53%

3Y-12.79%

TTM-9.14%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-5.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM-1.45%

ROCE

10Y Avg-57.41%

5Y Avg-58.03%

3Y Avg-80.47%

Latest-79.72%

Peer Comparison

Private Jet Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE
SOARVolato Group, Inc.	5.98M	0.61	-0.02	30.12%	17.84%	226.58%
UPWheels Up Experience Inc.	793.88M	1.10	-2.24	-36.8%	-46.59%
FLYXflyExclusive, Inc.	123.39M	3.69	-3.45	3.78%	-5.04%	-178.16%

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	384.91M	694.98M	1.19B	1.58B	1.25B	792.1M
Revenue Growth %	-	0.81%	0.72%	0.32%	-0.21%	-0.37%
Cost of Goods Sold+	380.02M	634.77M	1.17B	1.61B	1.29B	733.08M
COGS % of Revenue	0.99%	0.91%	0.98%	1.02%	1.03%	0.93%
Gross Profit+	4.89M	60.21M	22.43M	-26.5M	-37.72M	59.03M
Gross Margin %	0.01%	0.09%	0.02%	-0.02%	-0.03%	0.07%
Gross Profit Growth %	-	11.32%	-0.63%	-2.18%	-0.42%	2.56%
Operating Expenses+	83.02M	123.17M	225.71M	533.51M	405.83M	317.82M
OpEx % of Revenue	0.22%	0.18%	0.19%	0.34%	0.32%	0.4%
Selling, General & Admin	69.05M	120.01M	193.4M	300.64M	234.7M	221.91M
SG&A % of Revenue	0.18%	0.17%	0.16%	0.19%	0.19%	0.28%
Research & Development	13.96M	21.01M	33.58M	57.24M	61.87M	40.69M
R&D % of Revenue	0.04%	0.03%	0.03%	0.04%	0.05%	0.05%
Other Operating Expenses	0	-17.85M	-1.27M	175.63M	109.26M	55.22M
Operating Income+	-78.13M	-62.97M	-203.28M	-560.01M	-443.56M	-258.79M
Operating Margin %	-0.2%	-0.09%	-0.17%	-0.35%	-0.35%	-0.33%
Operating Income Growth %	-	0.19%	-2.23%	-1.75%	0.21%	0.42%
EBITDA+	-38.78M	-4.44M	-149.08M	-494.07M	-385.02M	-202.25M
EBITDA Margin %	-0.1%	-0.01%	-0.12%	-0.31%	-0.31%	-0.26%
EBITDA Growth %	-	0.89%	-32.6%	-2.31%	0.22%	0.47%
D&A (Non-Cash Add-back)	39.35M	58.53M	54.2M	65.94M	58.53M	56.55M
EBIT	-77.51M	-62.42M	-187.65M	-547.86M	-444.75M	-273.06M
Net Interest Income+	-28.75M	-22.44M	-9.47M	-3.85M	-35.13M	-63.18M
Interest Income	615K	550K	53K	3.67M	6.12M	2.17M
Interest Expense	29.36M	22.99M	9.52M	7.51M	41.26M	65.35M
Other Income/Expense	-28.75M	-22.44M	6.11M	4.63M	-42.45M	-79.62M
Pretax Income+	-106.87M	-85.41M	-197.17M	-555.38M	-486M	-338.41M
Pretax Margin %	-0.28%	-0.12%	-0.17%	-0.35%	-0.39%	-0.43%
Income Tax+	0	0	58K	170K	1.38M	1.23M
Effective Tax Rate %	0.9%	0.92%	0.96%	1%	1%	1%
Net Income+	-96.27M	-78.64M	-190.02M	-555.16M	-487.39M	-339.63M
Net Margin %	-0.25%	-0.11%	-0.16%	-0.35%	-0.39%	-0.43%
Net Income Growth %	-	0.18%	-1.42%	-1.92%	0.12%	0.3%
Net Income (Continuing)	-106.87M	-85.41M	-197.23M	-555.55M	-487.39M	-339.63M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	26.02M	6.08M	0	0	0
EPS (Diluted)+	-9.27	-4.84	-9.28	-22.60	-1.58	-0.49
EPS Growth %	-	0.48%	-0.92%	-1.44%	0.93%	0.69%
EPS (Basic)	-9.30	-4.84	-9.28	-22.60	-1.58	-0.49
Diluted Shares Outstanding	10.38M	16.25M	20.48M	24.57M	308.84M	697.71M
Basic Shares Outstanding	10.35M	16.25M	20.48M	24.57M	308.84M	697.71M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	128.43M	395.52M	933.07M	819.62M	434.03M	332.07M
Cash & Short-Term Investments	84.05M	312.8M	784.57M	585.88M	263.91M	216.43M
Cash Only	84.05M	312.8M	784.57M	585.88M	263.91M	216.43M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	20.01M	58.6M	87.46M	117.91M	49.77M	33.5M
Days Sales Outstanding	18.97	30.78	26.73	27.24	14.49	15.44
Inventory	918K	5.32M	9.41M	53.83M	22.26M	12.18M
Days Inventory Outstanding	0.88	3.06	2.93	12.23	6.29	6.06
Other Current Assets	18.67M	18.19M	29.84M	22.29M	42.38M	46.42M
Total Non-Current Assets+	399.21M	964.47M	1.05B	1.15B	882.03M	825.94M
Property, Plant & Equipment	356.16M	387.57M	426.42M	501.29M	406.62M	405.25M
Fixed Asset Turnover	1.08x	1.79x	2.80x	3.15x	3.08x	1.95x
Goodwill	3.73M	400.16M	437.4M	396.12M	218.21M	217.04M
Intangible Assets	20.14M	163.71M	146.96M	141.76M	117.77M	96.9M
Long-Term Investments	0	0	0	34.27M	0	30.04M
Other Non-Current Assets	19.18M	25.21M	37.22M	112.43M	139.43M	76.7M
Total Assets+	527.63M	1.36B	1.98B	1.97B	1.32B	1.16B
Asset Turnover	0.73x	0.51x	0.60x	0.80x	0.95x	0.68x
Asset Growth %	-	1.58%	0.46%	-0%	-0.33%	-0.12%
Total Current Liabilities+	383.72M	839.91M	1.14B	1.34B	907.5M	917.28M
Accounts Payable	27.91M	20.92M	43.67M	43.17M	32.97M	29.98M
Days Payables Outstanding	26.8	12.03	13.6	9.81	9.32	14.93
Short-Term Debt	49.2M	62.68M	0	27.01M	24M	31.75M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	252.74M	17.98M	19.07M	20.02M	1.94M	92.17M
Current Ratio	0.33x	0.47x	0.82x	0.61x	0.48x	0.36x
Quick Ratio	0.33x	0.46x	0.81x	0.57x	0.45x	0.35x
Cash Conversion Cycle	-6.95	21.81	16.06	29.66	11.46	6.57
Total Non-Current Liabilities+	200.17M	226.25M	109.8M	327.08M	308.69M	436.95M
Long-Term Debt	195.17M	148.41M	0	226.23M	235.07M	376.31M
Capital Lease Obligations	3.43M	56.36M	83.46M	82.75M	54.96M	50.81M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	1.56M	19.5M	24.38M	16.35M	17.67M	9.66M
Total Liabilities	583.89M	1.07B	1.24B	1.67B	1.22B	1.35B
Total Debt+	256.45M	283.31M	115.08M	365.94M	336.9M	472.82M
Net Debt	172.41M	-29.49M	-669.5M	-219.94M	72.99M	256.39M
Debt / Equity	-	0.96x	0.16x	1.22x	3.37x	-
Debt / EBITDA	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-
Interest Coverage	-2.66x	-2.74x	-21.35x	-74.52x	-10.75x	-3.96x
Total Equity+	-56.25M	293.83M	736.23M	299.92M	99.87M	-196.23M
Equity Growth %	-	6.22%	1.51%	-0.59%	-0.67%	-2.96%
Book Value per Share	-5.42	18.08	35.95	12.21	0.32	-0.28
Total Shareholders' Equity	-56.25M	267.8M	730.15M	299.92M	99.87M	-196.23M
Common Stock	3.82M	17K	25K	25K	70K	70K
Retained Earnings	-122.29M	-530.69M	-720.71M	-1.23B	-1.76B	-2.1B
Treasury Stock	0	0	0	-7.69M	-7.72M	-8.2M
Accumulated OCI	2.25M	-800K	0	-10.05M	-10.7M	-12.66M
Minority Interest	0	26.02M	6.08M	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-24.88M	209.64M	126.49M	-230.69M	-665.28M	-77.89M
Operating CF Margin %	-0.06%	0.3%	0.11%	-0.15%	-0.53%	-0.1%
Operating CF Growth %	-	9.43%	-0.4%	-2.82%	-1.88%	0.88%
Net Income	-106.87M	-85.41M	-197.23M	-507.55M	-487.39M	-339.63M
Depreciation & Amortization	39.35M	58.53M	54.2M	65.94M	58.53M	56.55M
Stock-Based Compensation	1.88M	3.34M	49.67M	88.98M	25.63M	45.98M
Deferred Taxes	529K	0	-12.31M	0	0	0
Other Non-Cash Items	1.94M	8.73M	618K	128.58M	134.23M	75.22M
Working Capital Changes	38.29M	224.45M	231.54M	-6.64M	-396.29M	84.01M
Change in Receivables	1.41M	21.47M	-21.92M	-23.95M	26.9M	7.14M
Change in Inventory	-70K	-636K	-3.42M	-51.16M	15.7M	4.53M
Change in Payables	6.73M	-13.87M	13.12M	-9.7M	-8.09M	-2.88M
Cash from Investing+	-41.32M	81.58M	-38.67M	-175.24M	40.87M	-46.68M
Capital Expenditures	-8.07M	-7.11M	-60.08M	-151.36M	-36.66M	-122.81M
CapEx % of Revenue	0.02%	0.01%	0.05%	0.1%	0.03%	0.16%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	-14.42M	-8.41M	13.57M	51.21M	64.33M	76.13M
Cash from Financing+	87.38M	-62.79M	374.03M	244.79M	300.95M	78.66M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	125.09M	0	586M	-6.73M	-21.69M	-1.59M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-32.95M	194.12M	66.41M	-382.05M	-701.95M	-218.13M
FCF Margin %	-0.09%	0.28%	0.06%	-0.24%	-0.56%	-0.28%
FCF Growth %	-	6.89%	-0.66%	-6.75%	-0.84%	0.69%
FCF per Share	-3.17	11.95	3.24	-15.55	-2.27	-0.31
FCF Conversion (FCF/Net Income)	0.26x	-2.67x	-0.67x	0.42x	1.37x	0.23x
Interest Paid	0	21.72M	0	0	0	0
Taxes Paid	0	0	0	0	0	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-66.2%	-36.9%	-107.16%	-243.82%	-
Return on Invested Capital (ROIC)	-	-24.82%	-92.1%	-572.56%	-263.14%	-166.59%
Gross Margin	1.27%	8.66%	1.88%	-1.68%	-3.01%	7.45%
Net Margin	-25.01%	-11.32%	-15.91%	-35.14%	-38.89%	-42.88%
Debt / Equity	-	0.96x	0.16x	1.22x	3.37x	-
Interest Coverage	-2.66x	-2.74x	-21.35x	-74.52x	-10.75x	-3.96x
FCF Conversion	0.26x	-2.67x	-0.67x	0.42x	1.37x	0.23x
Revenue Growth	-	80.56%	71.84%	32.28%	-20.66%	-36.8%

Revenue by Segment

	2021	2022	2023	2024
Flight-Related Services	3.3M	4.6M	2.8M	2.3M
Flight-Related Services Growth	-	39.39%	-39.13%	-17.86%

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	-	1.16B	700.29M
UNITED STATES Growth	-	-	-	-39.48%
Non-US	-	-	96.2M	91.81M
Non-US Growth	-	-	-	-4.56%

Frequently Asked Questions

Growth & Financials

Wheels Up Experience Inc. (UP) reported $757.5M in revenue for fiscal year 2024. This represents a 97% increase from $384.9M in 2019.

Wheels Up Experience Inc. (UP) saw revenue decline by 36.8% over the past year.

Wheels Up Experience Inc. (UP) reported a net loss of $352.9M for fiscal year 2024.

Dividend & Returns

Wheels Up Experience Inc. (UP) had negative free cash flow of $285.9M in fiscal year 2024, likely due to heavy capital investments.

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Wheels Up Experience Inc. (UP) 10-Year Financial Performance & Capital Metrics

UP • • Industrial / General

IndustrialsAirlines & AirportsPrivate & Business AviationPrivate Jet Operators

Revenue $792M -36.8%
EBITDA -$202M +47.5%
Net Income -$340M +30.3%
EPS (Diluted) -0.49 +69.0%
Gross Margin 7.45% +347.6%
EBITDA Margin -25.53% +16.9%
Operating Margin -32.67% +7.7%
Net Margin -42.88% -10.3%
ROE -
ROIC -166.59% +36.7%
Debt/Equity -
Interest Coverage -3.96 +63.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 15.5%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y15.53%

3Y-12.79%

TTM-9.14%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-5.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM-1.45%

ROCE

10Y Avg-57.41%

5Y Avg-58.03%

3Y Avg-80.47%

Latest-79.72%

Peer Comparison

Private Jet Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE
SOARVolato Group, Inc.	5.98M	0.61	-0.02	30.12%	17.84%	226.58%
UPWheels Up Experience Inc.	793.88M	1.10	-2.24	-36.8%	-46.59%
FLYXflyExclusive, Inc.	123.39M	3.69	-3.45	3.78%	-5.04%	-178.16%

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	384.91M	694.98M	1.19B	1.58B	1.25B	792.1M
Revenue Growth %	-	0.81%	0.72%	0.32%	-0.21%	-0.37%
Cost of Goods Sold+	380.02M	634.77M	1.17B	1.61B	1.29B	733.08M
COGS % of Revenue	0.99%	0.91%	0.98%	1.02%	1.03%	0.93%
Gross Profit+	4.89M	60.21M	22.43M	-26.5M	-37.72M	59.03M
Gross Margin %	0.01%	0.09%	0.02%	-0.02%	-0.03%	0.07%
Gross Profit Growth %	-	11.32%	-0.63%	-2.18%	-0.42%	2.56%
Operating Expenses+	83.02M	123.17M	225.71M	533.51M	405.83M	317.82M
OpEx % of Revenue	0.22%	0.18%	0.19%	0.34%	0.32%	0.4%
Selling, General & Admin	69.05M	120.01M	193.4M	300.64M	234.7M	221.91M
SG&A % of Revenue	0.18%	0.17%	0.16%	0.19%	0.19%	0.28%
Research & Development	13.96M	21.01M	33.58M	57.24M	61.87M	40.69M
R&D % of Revenue	0.04%	0.03%	0.03%	0.04%	0.05%	0.05%
Other Operating Expenses	0	-17.85M	-1.27M	175.63M	109.26M	55.22M
Operating Income+	-78.13M	-62.97M	-203.28M	-560.01M	-443.56M	-258.79M
Operating Margin %	-0.2%	-0.09%	-0.17%	-0.35%	-0.35%	-0.33%
Operating Income Growth %	-	0.19%	-2.23%	-1.75%	0.21%	0.42%
EBITDA+	-38.78M	-4.44M	-149.08M	-494.07M	-385.02M	-202.25M
EBITDA Margin %	-0.1%	-0.01%	-0.12%	-0.31%	-0.31%	-0.26%
EBITDA Growth %	-	0.89%	-32.6%	-2.31%	0.22%	0.47%
D&A (Non-Cash Add-back)	39.35M	58.53M	54.2M	65.94M	58.53M	56.55M
EBIT	-77.51M	-62.42M	-187.65M	-547.86M	-444.75M	-273.06M
Net Interest Income+	-28.75M	-22.44M	-9.47M	-3.85M	-35.13M	-63.18M
Interest Income	615K	550K	53K	3.67M	6.12M	2.17M
Interest Expense	29.36M	22.99M	9.52M	7.51M	41.26M	65.35M
Other Income/Expense	-28.75M	-22.44M	6.11M	4.63M	-42.45M	-79.62M
Pretax Income+	-106.87M	-85.41M	-197.17M	-555.38M	-486M	-338.41M
Pretax Margin %	-0.28%	-0.12%	-0.17%	-0.35%	-0.39%	-0.43%
Income Tax+	0	0	58K	170K	1.38M	1.23M
Effective Tax Rate %	0.9%	0.92%	0.96%	1%	1%	1%
Net Income+	-96.27M	-78.64M	-190.02M	-555.16M	-487.39M	-339.63M
Net Margin %	-0.25%	-0.11%	-0.16%	-0.35%	-0.39%	-0.43%
Net Income Growth %	-	0.18%	-1.42%	-1.92%	0.12%	0.3%
Net Income (Continuing)	-106.87M	-85.41M	-197.23M	-555.55M	-487.39M	-339.63M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	26.02M	6.08M	0	0	0
EPS (Diluted)+	-9.27	-4.84	-9.28	-22.60	-1.58	-0.49
EPS Growth %	-	0.48%	-0.92%	-1.44%	0.93%	0.69%
EPS (Basic)	-9.30	-4.84	-9.28	-22.60	-1.58	-0.49
Diluted Shares Outstanding	10.38M	16.25M	20.48M	24.57M	308.84M	697.71M
Basic Shares Outstanding	10.35M	16.25M	20.48M	24.57M	308.84M	697.71M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	128.43M	395.52M	933.07M	819.62M	434.03M	332.07M
Cash & Short-Term Investments	84.05M	312.8M	784.57M	585.88M	263.91M	216.43M
Cash Only	84.05M	312.8M	784.57M	585.88M	263.91M	216.43M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	20.01M	58.6M	87.46M	117.91M	49.77M	33.5M
Days Sales Outstanding	18.97	30.78	26.73	27.24	14.49	15.44
Inventory	918K	5.32M	9.41M	53.83M	22.26M	12.18M
Days Inventory Outstanding	0.88	3.06	2.93	12.23	6.29	6.06
Other Current Assets	18.67M	18.19M	29.84M	22.29M	42.38M	46.42M
Total Non-Current Assets+	399.21M	964.47M	1.05B	1.15B	882.03M	825.94M
Property, Plant & Equipment	356.16M	387.57M	426.42M	501.29M	406.62M	405.25M
Fixed Asset Turnover	1.08x	1.79x	2.80x	3.15x	3.08x	1.95x
Goodwill	3.73M	400.16M	437.4M	396.12M	218.21M	217.04M
Intangible Assets	20.14M	163.71M	146.96M	141.76M	117.77M	96.9M
Long-Term Investments	0	0	0	34.27M	0	30.04M
Other Non-Current Assets	19.18M	25.21M	37.22M	112.43M	139.43M	76.7M
Total Assets+	527.63M	1.36B	1.98B	1.97B	1.32B	1.16B
Asset Turnover	0.73x	0.51x	0.60x	0.80x	0.95x	0.68x
Asset Growth %	-	1.58%	0.46%	-0%	-0.33%	-0.12%
Total Current Liabilities+	383.72M	839.91M	1.14B	1.34B	907.5M	917.28M
Accounts Payable	27.91M	20.92M	43.67M	43.17M	32.97M	29.98M
Days Payables Outstanding	26.8	12.03	13.6	9.81	9.32	14.93
Short-Term Debt	49.2M	62.68M	0	27.01M	24M	31.75M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	252.74M	17.98M	19.07M	20.02M	1.94M	92.17M
Current Ratio	0.33x	0.47x	0.82x	0.61x	0.48x	0.36x
Quick Ratio	0.33x	0.46x	0.81x	0.57x	0.45x	0.35x
Cash Conversion Cycle	-6.95	21.81	16.06	29.66	11.46	6.57
Total Non-Current Liabilities+	200.17M	226.25M	109.8M	327.08M	308.69M	436.95M
Long-Term Debt	195.17M	148.41M	0	226.23M	235.07M	376.31M
Capital Lease Obligations	3.43M	56.36M	83.46M	82.75M	54.96M	50.81M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	1.56M	19.5M	24.38M	16.35M	17.67M	9.66M
Total Liabilities	583.89M	1.07B	1.24B	1.67B	1.22B	1.35B
Total Debt+	256.45M	283.31M	115.08M	365.94M	336.9M	472.82M
Net Debt	172.41M	-29.49M	-669.5M	-219.94M	72.99M	256.39M
Debt / Equity	-	0.96x	0.16x	1.22x	3.37x	-
Debt / EBITDA	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-
Interest Coverage	-2.66x	-2.74x	-21.35x	-74.52x	-10.75x	-3.96x
Total Equity+	-56.25M	293.83M	736.23M	299.92M	99.87M	-196.23M
Equity Growth %	-	6.22%	1.51%	-0.59%	-0.67%	-2.96%
Book Value per Share	-5.42	18.08	35.95	12.21	0.32	-0.28
Total Shareholders' Equity	-56.25M	267.8M	730.15M	299.92M	99.87M	-196.23M
Common Stock	3.82M	17K	25K	25K	70K	70K
Retained Earnings	-122.29M	-530.69M	-720.71M	-1.23B	-1.76B	-2.1B
Treasury Stock	0	0	0	-7.69M	-7.72M	-8.2M
Accumulated OCI	2.25M	-800K	0	-10.05M	-10.7M	-12.66M
Minority Interest	0	26.02M	6.08M	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-24.88M	209.64M	126.49M	-230.69M	-665.28M	-77.89M
Operating CF Margin %	-0.06%	0.3%	0.11%	-0.15%	-0.53%	-0.1%
Operating CF Growth %	-	9.43%	-0.4%	-2.82%	-1.88%	0.88%
Net Income	-106.87M	-85.41M	-197.23M	-507.55M	-487.39M	-339.63M
Depreciation & Amortization	39.35M	58.53M	54.2M	65.94M	58.53M	56.55M
Stock-Based Compensation	1.88M	3.34M	49.67M	88.98M	25.63M	45.98M
Deferred Taxes	529K	0	-12.31M	0	0	0
Other Non-Cash Items	1.94M	8.73M	618K	128.58M	134.23M	75.22M
Working Capital Changes	38.29M	224.45M	231.54M	-6.64M	-396.29M	84.01M
Change in Receivables	1.41M	21.47M	-21.92M	-23.95M	26.9M	7.14M
Change in Inventory	-70K	-636K	-3.42M	-51.16M	15.7M	4.53M
Change in Payables	6.73M	-13.87M	13.12M	-9.7M	-8.09M	-2.88M
Cash from Investing+	-41.32M	81.58M	-38.67M	-175.24M	40.87M	-46.68M
Capital Expenditures	-8.07M	-7.11M	-60.08M	-151.36M	-36.66M	-122.81M
CapEx % of Revenue	0.02%	0.01%	0.05%	0.1%	0.03%	0.16%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	-14.42M	-8.41M	13.57M	51.21M	64.33M	76.13M
Cash from Financing+	87.38M	-62.79M	374.03M	244.79M	300.95M	78.66M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	125.09M	0	586M	-6.73M	-21.69M	-1.59M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-32.95M	194.12M	66.41M	-382.05M	-701.95M	-218.13M
FCF Margin %	-0.09%	0.28%	0.06%	-0.24%	-0.56%	-0.28%
FCF Growth %	-	6.89%	-0.66%	-6.75%	-0.84%	0.69%
FCF per Share	-3.17	11.95	3.24	-15.55	-2.27	-0.31
FCF Conversion (FCF/Net Income)	0.26x	-2.67x	-0.67x	0.42x	1.37x	0.23x
Interest Paid	0	21.72M	0	0	0	0
Taxes Paid	0	0	0	0	0	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-66.2%	-36.9%	-107.16%	-243.82%	-
Return on Invested Capital (ROIC)	-	-24.82%	-92.1%	-572.56%	-263.14%	-166.59%
Gross Margin	1.27%	8.66%	1.88%	-1.68%	-3.01%	7.45%
Net Margin	-25.01%	-11.32%	-15.91%	-35.14%	-38.89%	-42.88%
Debt / Equity	-	0.96x	0.16x	1.22x	3.37x	-
Interest Coverage	-2.66x	-2.74x	-21.35x	-74.52x	-10.75x	-3.96x
FCF Conversion	0.26x	-2.67x	-0.67x	0.42x	1.37x	0.23x
Revenue Growth	-	80.56%	71.84%	32.28%	-20.66%	-36.8%

Revenue by Segment

	2021	2022	2023	2024
Flight-Related Services	3.3M	4.6M	2.8M	2.3M
Flight-Related Services Growth	-	39.39%	-39.13%	-17.86%

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	-	1.16B	700.29M
UNITED STATES Growth	-	-	-	-39.48%
Non-US	-	-	96.2M	91.81M
Non-US Growth	-	-	-	-4.56%

Frequently Asked Questions

Growth & Financials

Wheels Up Experience Inc. (UP) reported $757.5M in revenue for fiscal year 2024. This represents a 97% increase from $384.9M in 2019.

Wheels Up Experience Inc. (UP) saw revenue decline by 36.8% over the past year.

Wheels Up Experience Inc. (UP) reported a net loss of $352.9M for fiscal year 2024.

Dividend & Returns

Wheels Up Experience Inc. (UP) had negative free cash flow of $285.9M in fiscal year 2024, likely due to heavy capital investments.