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Wheels Up Experience Inc.(UP)Earnings, Financials & Key Ratios
UP•NYSE
$6.01
$218M mkt cap·Price updated May 6, 2026
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$736M-7.0%
- EBITDA-$191M+5.5%
- Net Income-$294M+13.4%
- EPS (Diluted)-8.40+14.3%
- Gross Margin2.25%-69.8%
- EBITDA Margin-25.95%-1.6%
- Operating Margin-34.26%-4.8%
- Net Margin-39.95%+6.8%
- Interest Coverage-2.21+47.0%
UP Key Insights
Wheels Up Experience Inc. (UP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗Profits declining 30.2% over 5 years
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 2 (bottom 2%)
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
UP Price & Volume
Wheels Up Experience Inc. (UP) stock price & volume — 10-year historical chart
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UP Growth Metrics
Wheels Up Experience Inc. (UP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years1.17%
3 Years-22.46%
TTM-7.02%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM13.37%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM14.76%
Return on Capital
10 Years-73.07%
5 Years-87.65%
3 Years-110.82%
Last Year-167.09%
UP Recent Earnings
Wheels Up Experience Inc. (UP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (100%)●Beat Revenue 1/12 qtrs (8%)
Q1 2026Latest
Feb 19, 2026EPS
$0.40
Revenue
$184M
Est $473M
-61.1%
Q4 2025
Nov 5, 2025EPS
$0.10
Revenue
$185M
Est $499M
-62.8%
Q3 2025
Aug 7, 2025EPS
$0.10
Revenue
$190M
Est $471M
-59.7%
Q2 2025
May 1, 2025EPS
$0.10
Revenue
$178M
Est $462M
-61.5%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 19, 2026 | $0.40 | $184Mvs $473M-61.1% |
| Q4 2025 | Nov 5, 2025 | $0.10 | $185Mvs $499M-62.8% |
| Q3 2025 | Aug 7, 2025 | $0.10 | $190Mvs $471M-59.7% |
| Q2 2025 | May 1, 2025 | $0.10 | $178Mvs $462M-61.5% |
Based on last 12 quarters of dataView full earnings history →
UP Peer Comparison
Wheels Up Experience Inc. (UP) competitors in Private aviation and charter services — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FLYW | 2.09B | 17.51 | 159.18 | 26.59% | 6.65% | 5.87% | ||
 SOAR | 468.34K | 0.25 | -0.01 | 30.12% | 17.84% | 226.58% | ||
 AIRO | 232.59M | 7.43 | -4.79 | 100.99% | -125.14% | -10.76% | 0.09 | |
 UAL | 32.48B | 100.03 | 9.79 | 3.52% | 6.06% | 24.91% | 2.03 | |
 DAL | 47.89B | 73.32 | 9.57 | 2.79% | 7.9% | 24.12% | 1.02 | |
 LUV | 20.38B | 41.50 | 52.53 | 2.11% | 2.83% | 10.67% | 0.75 | |
 JBLU | 1.87B | 5.04 | -3.04 | -2.34% | -7.78% | -33.13% | 4.84 | |
 ALGT | 1.48B | 80.08 | -32.29 | 3.74% | -1.71% | -4.22% | 1.77 |
Compare UP vs Peers
Wheels Up Experience Inc. (UP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
UP Income Statement
Wheels Up Experience Inc. (UP) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 384.91M | 694.98M | 1.19B | 1.58B | 1.25B | 792.1M | 736.5M |
| Revenue Growth % | - | 80.56% | 71.84% | 32.28% | -20.66% | -36.8% | -7.02% |
| Cost of Goods Sold | 380.02M | 634.77M | 1.17B | 1.61B | 1.29B | 733.08M | 719.94M |
| COGS % of Revenue | 98.73% | 91.34% | 98.12% | 101.68% | 103.01% | 92.55% | 97.75% |
| Gross Profit | 4.89M▲ 0% | 60.21M▲ 1132.0% | 22.43M▼ 62.7% | -26.5M▼ 218.2% | -37.72M▼ 42.3% | 59.03M▲ 256.5% | 16.55M▼ 72.0% |
| Gross Margin % | 1.27% | 8.66% | 1.88% | -1.68% | -3.01% | 7.45% | 2.25% |
| Gross Profit Growth % | - | 1131.96% | -62.75% | -218.16% | -42.34% | 256.48% | -71.96% |
| Operating Expenses | 83.02M | 123.17M | 225.71M | 533.51M | 405.83M | 317.82M | 268.84M |
| OpEx % of Revenue | 21.57% | 17.72% | 18.9% | 33.77% | 32.38% | 40.12% | 36.5% |
| Selling, General & Admin | 69.05M | 120.01M | 193.4M | 300.64M | 234.7M | 221.91M | 233.94M |
| SG&A % of Revenue | 17.94% | 17.27% | 16.19% | 19.03% | 18.73% | 28.02% | 31.76% |
| Research & Development | 13.96M | 21.01M | 33.58M | 57.24M | 61.87M | 40.69M | 38.76M |
| R&D % of Revenue | 3.63% | 3.02% | 2.81% | 3.62% | 4.94% | 5.14% | 5.26% |
| Other Operating Expenses | 0 | -17.85M | -1.27M | 175.63M | 109.26M | 55.22M | -3.87M |
| Operating Income | -78.13M▲ 0% | -62.97M▲ 19.4% | -203.28M▼ 222.8% | -560.01M▼ 175.5% | -443.56M▲ 20.8% | -258.79M▲ 41.7% | -252.29M▲ 2.5% |
| Operating Margin % | -20.3% | -9.06% | -17.02% | -35.45% | -35.39% | -32.67% | -34.26% |
| Operating Income Growth % | - | 19.41% | -222.84% | -175.49% | 20.79% | 41.66% | 2.51% |
| EBITDA | -38.78M | -4.44M | -149.08M | -494.07M | -385.02M | -202.25M | -191.12M |
| EBITDA Margin % | -10.07% | -0.64% | -12.48% | -31.28% | -30.72% | -25.53% | -25.95% |
| EBITDA Growth % | - | 88.56% | -3259.93% | -231.41% | 22.07% | 47.47% | 5.5% |
| D&A (Non-Cash Add-back) | 39.35M | 58.53M | 54.2M | 65.94M | 58.53M | 56.55M | 61.17M |
| EBIT | -77.51M | -62.42M | -187.65M | -547.86M | -444.75M | -273.06M | -200.24M |
| Net Interest Income | -28.75M | -22.44M | -9.47M | -3.85M | -35.13M | -63.18M | -87.45M |
| Interest Income | 615K | 550K | 53K | 3.67M | 6.12M | 2.17M | 3.02M |
| Interest Expense | 29.36M | 22.99M | 9.52M | 7.51M | 41.26M | 65.35M | 90.47M |
| Other Income/Expense | -28.75M | -22.44M | 6.11M | 4.63M | -42.45M | -79.62M | -38.43M |
| Pretax Income | -106.87M▲ 0% | -85.41M▲ 20.1% | -197.17M▼ 130.9% | -555.38M▼ 181.7% | -486M▲ 12.5% | -338.41M▲ 30.4% | -290.71M▲ 14.1% |
| Pretax Margin % | -27.77% | -12.29% | -16.51% | -35.16% | -38.78% | -42.72% | -39.47% |
| Income Tax | 0 | 0 | 58K | 170K | 1.38M | 1.23M | 3.5M |
| Effective Tax Rate % | 0% | 0% | -0.03% | -0.03% | -0.28% | -0.36% | -1.2% |
| Net Income | -96.27M▲ 0% | -78.64M▲ 18.3% | -190.02M▼ 141.6% | -555.16M▼ 192.2% | -487.39M▲ 12.2% | -339.63M▲ 30.3% | -294.22M▲ 13.4% |
| Net Margin % | -25.01% | -11.32% | -15.91% | -35.14% | -38.89% | -42.88% | -39.95% |
| Net Income Growth % | - | 18.32% | -141.63% | -192.16% | 12.21% | 30.32% | 13.37% |
| Net Income (Continuing) | -106.87M | -85.41M | -197.23M | -555.55M | -487.39M | -339.63M | -294.22M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 26.02M | 6.08M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -185.40▲ 0% | -96.80▲ 47.8% | -185.60▼ 91.7% | -452.00▼ 143.5% | -31.60▲ 93.0% | -9.80▲ 69.0% | -8.40▲ 14.3% |
| EPS Growth % | - | 47.79% | -91.74% | -143.53% | 93.01% | 68.99% | 14.29% |
| EPS (Basic) | -186.00 | -96.80 | -185.60 | -452.00 | -31.60 | -9.80 | -8.40 |
| Diluted Shares Outstanding | 519.02K | 812.53K | 1.02M | 1.23M | 15.44M | 34.89M | 35.3M |
| Basic Shares Outstanding | 517.6K | 812.53K | 1.02M | 1.23M | 15.44M | 34.89M | 35.3M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
UP Balance Sheet
Wheels Up Experience Inc. (UP) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 128.43M | 395.52M | 933.07M | 819.62M | 434.03M | 332.07M | 249.36M |
| Cash & Short-Term Investments | 84.05M | 312.8M | 784.57M | 585.88M | 263.91M | 216.43M | 133.93M |
| Cash Only | 84.05M | 312.8M | 784.57M | 585.88M | 263.91M | 216.43M | 133.93M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 20.01M | 58.6M | 87.46M | 117.91M | 49.77M | 33.5M | 25.74M |
| Days Sales Outstanding | 18.97 | 30.78 | 26.73 | 27.24 | 14.49 | 15.44 | 12.76 |
| Inventory | 918K | 5.32M | 9.41M | 53.83M | 22.26M | 12.18M | 11.59M |
| Days Inventory Outstanding | 0.88 | 3.06 | 2.93 | 12.23 | 6.29 | 6.06 | 5.87 |
| Other Current Assets | 18.67M | 18.19M | 29.84M | 22.29M | 42.38M | 46.42M | 78.1M |
| Total Non-Current Assets | 399.21M | 964.47M | 1.05B | 1.15B | 882.03M | 825.94M | 719.46M |
| Property, Plant & Equipment | 356.16M | 387.57M | 426.42M | 501.29M | 406.62M | 405.25M | 331.62M |
| Fixed Asset Turnover | 1.08x | 1.79x | 2.80x | 3.15x | 3.08x | 1.95x | 2.22x |
| Goodwill | 3.73M | 400.16M | 437.4M | 396.12M | 218.21M | 217.04M | 209.9M |
| Intangible Assets | 20.14M | 163.71M | 146.96M | 141.76M | 117.77M | 96.9M | 75.1M |
| Long-Term Investments | 0 | 0 | 0 | 34.27M | 0 | 30.04M | 0 |
| Other Non-Current Assets | 19.18M | 25.21M | 37.22M | 112.43M | 139.43M | 76.7M | 102.84M |
| Total Assets | 527.63M▲ 0% | 1.36B▲ 157.8% | 1.98B▲ 45.7% | 1.97B▼ 0.5% | 1.32B▼ 33.2% | 1.16B▼ 12.0% | 968.81M▼ 16.3% |
| Asset Turnover | 0.73x | 0.51x | 0.60x | 0.80x | 0.95x | 0.68x | 0.76x |
| Asset Growth % | - | 157.75% | 45.67% | -0.5% | -33.24% | -12.01% | -16.34% |
| Total Current Liabilities | 383.72M | 839.91M | 1.14B | 1.34B | 907.5M | 917.28M | 907.56M |
| Accounts Payable | 27.91M | 20.92M | 43.67M | 43.17M | 32.97M | 29.98M | 20.44M |
| Days Payables Outstanding | 26.8 | 12.03 | 13.6 | 9.81 | 9.32 | 14.93 | 10.36 |
| Short-Term Debt | 49.2M | 62.68M | 0 | 27.01M | 24M | 31.75M | 35.93M |
| Deferred Revenue (Current) | 0 | 651.1M | 933.53M | 1.08B | 723.25M | 749.43M | 738.85M |
| Other Current Liabilities | 252.74M | 17.98M | 19.07M | 20.02M | 1.94M | 92.17M | 112.33M |
| Current Ratio | 0.33x | 0.47x | 0.82x | 0.61x | 0.48x | 0.36x | 0.27x |
| Quick Ratio | 0.33x | 0.46x | 0.81x | 0.57x | 0.45x | 0.35x | 0.26x |
| Cash Conversion Cycle | -6.95 | 21.81 | 16.06 | 29.66 | 11.46 | 6.57 | 8.27 |
| Total Non-Current Liabilities | 200.17M | 226.25M | 109.8M | 327.08M | 308.69M | 436.95M | 453.36M |
| Long-Term Debt | 195.17M | 148.41M | 0 | 226.23M | 235.07M | 376.31M | 121.07M |
| Capital Lease Obligations | 3.43M | 56.36M | 83.46M | 82.75M | 54.96M | 50.81M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.56M | 19.5M | 24.38M | 16.35M | 17.67M | 9.66M | 332.29M |
| Total Liabilities | 583.89M | 1.07B | 1.24B | 1.67B | 1.22B | 1.35B | 1.36B |
| Total Debt | 256.45M | 283.31M | 115.08M | 365.94M | 336.9M | 472.82M | 157M |
| Net Debt | 172.41M | -29.49M | -669.5M | -219.94M | 72.99M | 256.39M | 23.07M |
| Debt / Equity | - | 0.96x | 0.16x | 1.22x | 3.37x | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | -2.64x | -2.72x | -19.71x | -72.90x | -10.78x | -4.18x | -2.21x |
| Total Equity | -56.25M▲ 0% | 293.83M▲ 622.3% | 736.23M▲ 150.6% | 299.92M▼ 59.3% | 99.87M▼ 66.7% | -196.23M▼ 296.5% | -392.1M▼ 99.8% |
| Equity Growth % | - | 622.32% | 150.57% | -59.26% | -66.7% | -296.48% | -99.82% |
| Book Value per Share | -108.39 | 361.62 | 719.04 | 244.16 | 6.47 | -5.62 | -11.11 |
| Total Shareholders' Equity | -56.25M | 267.8M | 730.15M | 299.92M | 99.87M | -196.23M | -392.1M |
| Common Stock | 3.82M | 17K | 25K | 25K | 70K | 70K | 72K |
| Retained Earnings | -122.29M | -530.69M | -720.71M | -1.23B | -1.76B | -2.1B | -2.4B |
| Treasury Stock | 0 | 0 | 0 | -7.69M | -7.72M | -8.2M | 0 |
| Accumulated OCI | 2.25M | -800K | 0 | -10.05M | -10.7M | -12.66M | -5.63M |
| Minority Interest | 0 | 26.02M | 6.08M | 0 | 0 | 0 | 0 |
UP Cash Flow Statement
Wheels Up Experience Inc. (UP) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -24.88M | 209.64M | 126.49M | -230.69M | -665.28M | -77.89M | -166.29M |
| Operating CF Margin % | -6.46% | 30.17% | 10.59% | -14.6% | -53.08% | -9.83% | -22.58% |
| Operating CF Growth % | - | 942.65% | -39.66% | -282.38% | -188.39% | 88.29% | -113.51% |
| Net Income | -106.87M | -85.41M | -197.23M | -507.55M | -487.39M | -339.63M | -294.22M |
| Depreciation & Amortization | 39.35M | 58.53M | 54.2M | 65.94M | 58.53M | 56.55M | 61.17M |
| Stock-Based Compensation | 1.88M | 3.34M | 49.67M | 88.98M | 25.63M | 45.98M | 45.43M |
| Deferred Taxes | 529K | 0 | -12.31M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.94M | 8.73M | 618K | 128.58M | 134.23M | 75.22M | 26.62M |
| Working Capital Changes | 38.29M | 224.45M | 231.54M | -6.64M | -396.29M | 84.01M | -5.3M |
| Change in Receivables | 1.41M | 21.47M | -21.92M | -23.95M | 26.9M | 7.14M | 2.22M |
| Change in Inventory | -70K | -636K | -3.42M | -51.16M | 15.7M | 4.53M | -3.17M |
| Change in Payables | 6.73M | -13.87M | 13.12M | -9.7M | -8.09M | -2.88M | -9.25M |
| Cash from Investing | -41.32M | 81.58M | -38.67M | -175.24M | 40.87M | -46.68M | 180.37M |
| Capital Expenditures | -8.07M | -7.11M | -60.08M | -151.36M | -36.66M | -122.81M | -93.63M |
| CapEx % of Revenue | 2.1% | 1.02% | 5.03% | 9.58% | 2.93% | 15.5% | 12.71% |
| Acquisitions | -28.33M | 97.1M | 7.84M | -75.09M | 13.2M | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -14.42M | -8.41M | 13.57M | 51.21M | 64.33M | 76.13M | 274M |
| Cash from Financing | 87.38M | -62.79M | 374.03M | 244.79M | 300.95M | 78.66M | -98.51M |
| Debt Issued (Net) | -37.71M | -62.79M | -214.08M | 259.2M | 322.68M | 80.74M | -144.4M |
| Equity Issued (Net) | 0 | 0 | 2.11M | -7.69M | -31K | -485K | 45.88M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -7.69M | -31K | -485K | -1.63M |
| Other Financing | 125.09M | 0 | 586M | -6.73M | -21.69M | -1.59M | 0 |
| Net Change in Cash | 21.19M▲ 0% | 228.44M▲ 978.1% | 461.85M▲ 102.2% | -166.57M▼ 136.1% | -327.33M▼ 96.5% | -46.36M▲ 85.8% | -81.97M▼ 76.8% |
| Free Cash Flow | -32.95M▲ 0% | 194.12M▲ 689.2% | 66.41M▼ 65.8% | -382.05M▼ 675.3% | -701.95M▼ 83.7% | -218.13M▲ 68.9% | -259.92M▼ 19.2% |
| FCF Margin % | -8.56% | 27.93% | 5.56% | -24.18% | -56.01% | -27.54% | -35.29% |
| FCF Growth % | - | 689.17% | -65.79% | -675.3% | -83.73% | 68.93% | -19.16% |
| FCF per Share | -63.48 | 238.91 | 64.86 | -311.02 | -45.46 | -6.25 | -7.36 |
| FCF Conversion (FCF/Net Income) | 0.26x | -2.67x | -0.67x | 0.42x | 1.37x | 0.23x | 0.57x |
| Interest Paid | 0 | 21.72M | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
UP Key Ratios
Wheels Up Experience Inc. (UP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| 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% | 2.25% |
| Net Margin | -25.01% | -11.32% | -15.91% | -35.14% | -38.89% | -42.88% | -39.95% |
| Debt / Equity | - | 0.96x | 0.16x | 1.22x | 3.37x | - | - |
| Interest Coverage | -2.64x | -2.72x | -19.71x | -72.90x | -10.78x | -4.18x | -2.21x |
| FCF Conversion | 0.26x | -2.67x | -0.67x | 0.42x | 1.37x | 0.23x | 0.57x |
| Revenue Growth | - | 80.56% | 71.84% | 32.28% | -20.66% | -36.8% | -7.02% |
UP SEC Filings & Documents
Wheels Up Experience Inc. (UP) SEC filings — annual & quarterly reports (10-K, 10-Q)
UP Frequently Asked Questions
Wheels Up Experience Inc. (UP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Wheels Up Experience Inc. (UP) reported $736.5M in revenue for fiscal year 2025. This represents a 91% increase from $384.9M in 2019.
Wheels Up Experience Inc. (UP) saw revenue decline by 7.0% over the past year.
Wheels Up Experience Inc. (UP) reported a net loss of $294.2M for fiscal year 2025.
Dividend & Returns
Wheels Up Experience Inc. (UP) had negative free cash flow of $270.5M in fiscal year 2025, likely due to heavy capital investments.
Explore More UP
Wheels Up Experience Inc. (UP) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates