Wheels Up Experience (UP) AI Stock Analysis

• Market Cap: $469.98M
• Dividend Yield: N/A
• Average Volume (3M): 3.15M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.87
• Revenue Growth: -9.14%
• EPS Growth: -0.48%
• Country: US
• Employees: 1,807
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.12
• Shares Outstanding: 721,707,900
• 10 Day Avg. Volume: 3,132,759
• 30 Day Avg. Volume: 3,154,548
• PEG Ratio: 0.05
• Price to Book (P/B): -5.87
• Price to Sales (P/S): 1.45
• P/FCF Ratio: -5.28
• Enterprise Value/Market Cap: 3.49
• Enterprise Value/Revenue: 2.17
• Enterprise Value/Gross Profit: 38.46
• Enterprise Value/Ebitda: -8.42
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $0.60 ▼(-23.33% Downside)

The score is driven primarily by weak financial performance (large losses, negative equity, and negative cash flows) and bearish technicals (price below all major moving averages with negative MACD). Valuation provides limited support due to a negative P/E, while corporate events are mixed with liquidity actions offset by elevated listing-risk signals.

Positive Factors

Fleet Modernization

The ongoing fleet modernization strategy enhances operational efficiency and customer experience, supporting long-term growth and competitiveness.

Strategic Partnerships

Strategic partnerships for fleet expansion improve capital efficiency and expand service capabilities, strengthening market position.

Asset-Light Model

Transitioning to an asset-light model enhances capital efficiency and financial flexibility, supporting sustainable growth and profitability.

Negative Factors

Negative Revenue Growth

Severe revenue decline indicates challenges in market demand and competitiveness, impacting long-term financial stability.

Weak Balance Sheet

A weak balance sheet with negative equity and high liabilities poses risks to financial stability and limits growth opportunities.

NYSE Listing Noncompliance

Noncompliance with NYSE listing standards increases risk and uncertainty, potentially affecting investor confidence and market access.

Wheels Up Experience Business Overview & Revenue Model

Company Description

Wheels 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.

How the Company Makes Money

Wheels Up generates revenue primarily through its membership model, which includes different tiers that provide varying levels of access to its fleet of private jets. Members pay an initiation fee and annual dues, which grants them access to on-demand flight services at discounted rates. In addition to membership fees, the company earns revenue from flight bookings, where non-members can also charter flights at standard rates. Key partnerships with aircraft operators and other travel service providers enhance its offerings and contribute to revenue, along with upselling services such as catering and ground transportation. The company's growth is further supported by strategic alliances in the aviation sector, allowing it to expand its market reach and service capabilities.

Wheels Up Experience Financial Statement Overview

Summary

Wheels Up Experience is facing significant financial difficulties across all major financial statements. The company is struggling with declining revenues, negative margins, and a weak balance sheet characterized by negative equity. Cash flow remains a critical issue, with ongoing negative cash flows despite some improvement in free cash flow growth. The financial health of the company is concerning, and strategic changes may be necessary to improve its financial trajectory.

Income Statement

The income statement reveals significant challenges for Wheels Up Experience. The company has experienced declining revenues with a negative revenue growth rate of -109.9% in the TTM period. Margins are under pressure, with a gross profit margin of 10.09% and a net profit margin of -42.68%, indicating substantial losses. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high costs relative to revenue.

Balance Sheet

The balance sheet shows a precarious financial position. The company has negative stockholders' equity, leading to a negative debt-to-equity ratio, which is concerning. Return on equity is extremely high at 138.01%, but this is due to the negative equity base rather than strong performance. The equity ratio is also negative, indicating that liabilities exceed assets, posing a risk to financial stability.

Cash Flow

Cash flow analysis highlights ongoing cash flow challenges. The company has a negative operating cash flow and free cash flow, although there is a slight improvement in free cash flow growth. The free cash flow to net income ratio is high at 2.80, suggesting that cash flow is less negative than net income, but overall cash generation remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	757.47M	792.10M	1.25B	1.58B	1.19B	694.98M
Gross Profit	42.66M	59.03M	-37.72M	-26.50M	22.43M	60.21M
EBITDA	-194.75M	-216.51M	-386.22M	-481.93M	-133.46M	-3.89M
Net Income	-352.88M	-339.63M	-487.39M	-555.16M	-190.02M	-78.64M
Balance Sheet
Total Assets	973.00M	1.16B	1.32B	1.97B	1.98B	1.36B
Cash, Cash Equivalents and Short-Term Investments	125.33M	216.43M	263.91M	585.88M	784.57M	312.80M
Total Debt	470.84M	472.82M	336.90M	365.94M	115.08M	283.31M
Total Liabilities	1.35B	1.35B	1.22B	1.67B	1.24B	1.07B
Stockholders Equity	-374.55M	-196.23M	99.87M	299.92M	730.15M	267.80M
Cash Flow
Free Cash Flow	-285.89M	-218.13M	-701.95M	-382.05M	66.41M	194.12M
Operating Cash Flow	-110.00M	-77.89M	-665.28M	-230.69M	126.49M	209.64M
Investing Cash Flow	-29.36M	-46.68M	40.87M	-175.24M	-38.67M	81.58M
Financing Cash Flow	143.00M	78.66M	300.95M	244.79M	374.03M	-62.79M

Wheels Up Experience Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UP, the sentiment is Negative. The current price of 0.78 is above the 20-day moving average (MA) of 0.67, below the 50-day MA of 0.87, and below the 200-day MA of 1.37, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 42.21 is Neutral, neither overbought nor oversold. The STOCH value of 41.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for UP.

Wheels Up Experience Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SKYW	74 Outperform	$3.96B	9.43	17.42%	―	19.27%	78.26%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
FLYX	52 Neutral	$583.37M	-6.53	―	―	―	―
SRFM	48 Neutral	$201.55M	-1.07	―	―	-8.51%	82.15%
ULCC	47 Neutral	$1.10B	-8.02	-27.87%	―	1.77%	-1964.48%
SOAR	45 Neutral	$5.21M	0.68	―	―	-63.27%	―
UP	40 Underperform	$469.98M	-1.29	―	―	-9.14%	-0.48%

Wheels Up Experience Corporate Events

Wheels Up Signs Jet Sale-Leaseback, Advances Fleet Modernization

On December 22, 2025, Wheels Up Experience Inc. entered into a roughly $105 million sale-leaseback agreement covering three Bombardier Challenger 300s and seven Embraer Phenom 300s, allowing it to continue operating the jets under long-term leases while unlocking an estimated $40 million of net cash and freeing up about $65 million in revolving equipment debt capacity. The transaction, expected to close by year-end 2025, supports the company’s fleet modernization and asset-light shift as it accelerates investment in Challenger and Phenom 300 series aircraft, underpins its recently launched Signature membership, and is designed to maintain uninterrupted service for customers during the peak holiday season and beyond. Separately, the company placed its first Phenom 300 equipped with Gogo Galileo HDX satellite Wi-Fi into service in December 2025, marking the start of a broader 2026 rollout of high-speed, globally available in-flight connectivity across its modernized fleet to enhance the premium customer experience.

The most recent analyst rating on (UP) stock is a Hold with a $0.64 price target. To see the full list of analyst forecasts on Wheels Up Experience stock, see the UP Stock Forecast page.

Wheels Up Addresses NYSE Listing Noncompliance With Reverse Split

On December 17, 2025, Wheels Up received notice from the New York Stock Exchange that its average share price had fallen below the $1.00 minimum over a 30‑day trading period, putting the company out of compliance with NYSE listing rules and triggering a six‑month cure period. The company, which remains in compliance with all other NYSE standards and continues to trade under the “UP” ticker with a “.BC” below‑compliance designation, has told the exchange it plans to use a previously authorized reverse stock split, at a ratio between 1‑for‑5 and 1‑for‑20 subject to board approval, if needed to restore compliance before the cure deadline, while continuing to pursue its multi‑year business transformation, fleet transition, and cost‑reduction program aimed at achieving a more resilient, profitable business model.

The most recent analyst rating on (UP) stock is a Hold with a $0.64 price target. To see the full list of analyst forecasts on Wheels Up Experience stock, see the UP Stock Forecast page.