Wheels Up Experience (UP) Gross Margin (2020 - 2025)
Wheels Up Experience (UP) posted Gross Margin of 6.80% for Q3 2025, down 7.15 percentage points from 13.95% a year earlier and down 1.47 percentage points from the prior quarter.
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Analysis
Wheels Up Experience (UP) Gross Margin (2020 - 2025) Analysis & Trends
For the trailing twelve months through Sep 30, 2025, Gross Margin at Wheels Up Experience was 10.03%, up 6.92 percentage points year-over-year; for FY2024, it came in at 7.45%, up 5.79 percentage points from FY2023.
- Annual Gross Margin shows a five-year change of -4.04 percentage points (FY2019 to FY2024).
- In prior years, Wheels Up Experience's Gross Margin was 1.66% in FY2023 (-0.84 pp), 2.50% in FY2022 (-3.92 pp), 6.42% in FY2021 (-2.25 pp) and 8.66% in FY2020 (-2.83 pp).
- The Q3 2025 figure stands as the lowest quarterly Gross Margin since Q2 2024.
- On a year-over-year basis, Gross Margin increased in five of the last eight quarters, with an average year-over-year change of +3.60 percentage points.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q4 2024, with a gain of 15.78 percentage points; the weakest was Q1 2022, with a drop of 12.56 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 8.27% (Q2 2025), 10.76% (Q1 2025) and 13.94% (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.85 Bn | 157.37 Bn | - | - |
| 2 | Csx | 86.62 Bn | 82.84 Bn | - | - |
| 3 | Canadian Pacific Kansas City | 76.11 Bn | 75.83 Bn | - | - |
| 4 | United Parcel Service | 70.66 Bn | 47.58 Bn | - | - |
| 5 | Norfolk Southern | 70.32 Bn | 64.96 Bn | - | - |
| 6 | Fedex | 68.53 Bn | 34.48 Bn | - | - |
| 7 | Delta Air Lines | 55.25 Bn | 37.43 Bn | - | - |
| 8 | Old Dominion Freight Line | 36.69 Bn | 35.95 Bn | - | - |
| 9 | Ryanair Holdings | 28.78 Bn | 12.78 Bn | 3.13 Bn | 61.47% |
| 10 | Wheels Up Experience | 130.02 Mn | -408.08 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 6.80% |
| Jun 30, 2025 | 8.27% |
| Mar 31, 2025 | 10.76% |
| Dec 31, 2024 | 13.94% |
| Sep 30, 2024 | 13.95% |
| Jun 30, 2024 | 2.34% |
| Mar 31, 2024 | -0.59% |
| Dec 31, 2023 | -1.84% |
| Sep 30, 2023 | 6.30% |
| Jun 30, 2023 | 2.14% |
| Mar 31, 2023 | -0.56% |
| Dec 31, 2022 | 3.09% |
| Sep 30, 2022 | 4.12% |
| Jun 30, 2022 | 3.90% |
| Mar 31, 2022 | -2.19% |
| Dec 31, 2021 | 0.17% |
| Sep 30, 2021 | 6.12% |
| Jun 30, 2021 | 10.64% |
| Mar 31, 2021 | 10.38% |
| Dec 31, 2020 | 10.31% |
API Access
Wheels Up Experience Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=UP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "UP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=UP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();