Wheels Up Experience (UP) Net Margin (2020 - 2025)
Wheels Up Experience (UP) recorded Net Margin of -45.14% in Q3 2025, down 15.37 percentage points from -29.77% a year earlier and down 1.74 percentage points from the prior quarter.
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Analysis
Wheels Up Experience (UP) Net Margin (2020 - 2025) Analysis & Trends
On a TTM basis, Wheels Up Experience's Net Margin came in at -46.59% as of Sep 30, 2025, down 6.62 percentage points year-over-year; for FY2024, it was -42.88%, down 3.99 percentage points from FY2023.
- Annual Net Margin has declined for four straight years, with a five-year change of -17.87 percentage points (FY2019 to FY2024).
- Across earlier years, Net Margin came in at -38.89% in FY2023 (-3.75 pp), -35.14% in FY2022 (-19.23 pp), -15.91% in FY2021 (-4.60 pp) and -11.32% in FY2020 (+13.70 pp).
- Quarterly Net Margin has ranged from -55.94% in Q1 2025 to -9.16% in Q2 2021 over the past five years.
- On a year-over-year basis, Net Margin rose in three of the last eight quarters, with an average year-over-year change of -1.29 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 22.17 percentage points in Q4 2023, against a drop of 40.15 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at -43.40% (Q2 2025), -55.94% (Q1 2025) and -42.74% (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 171.08 Bn | 165.61 Bn | - | 29.04% |
| 2 | Csx | 89.46 Bn | 85.67 Bn | - | 25.46% |
| 3 | United Parcel Service | 84.08 Bn | 60.97 Bn | - | 2.65% |
| 4 | Canadian Pacific Kansas City | 77.33 Bn | 76.35 Bn | - | 24.59% |
| 5 | Norfolk Southern | 73.29 Bn | 67.93 Bn | - | 21.18% |
| 6 | Fedex | 71.23 Bn | 37.18 Bn | - | 6.39% |
| 7 | Delta Air Lines | 50.21 Bn | 32.39 Bn | - | 3.75% |
| 8 | Old Dominion Freight Line | 39.21 Bn | 38.47 Bn | - | 22.56% |
| 9 | United Airlines Holdings | 31.76 Bn | -24.61 Bn | - | 4.56% |
| 10 | Wheels Up Experience | 110.50 Mn | -427.60 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -45.14% |
| Jun 30, 2025 | -43.40% |
| Mar 31, 2025 | -55.94% |
| Dec 31, 2024 | -42.74% |
| Sep 30, 2024 | -29.77% |
| Jun 30, 2024 | -49.40% |
| Mar 31, 2024 | -49.41% |
| Dec 31, 2023 | -32.92% |
| Sep 30, 2023 | -45.25% |
| Jun 30, 2023 | -47.93% |
| Mar 31, 2023 | -28.67% |
| Dec 31, 2022 | -55.09% |
| Sep 30, 2022 | -35.41% |
| Jun 30, 2022 | -21.80% |
| Mar 31, 2022 | -27.22% |
| Dec 31, 2021 | -55.07% |
| Sep 30, 2021 | -19.37% |
| Jun 30, 2021 | -9.16% |
| Mar 31, 2021 | -11.24% |
| Dec 31, 2020 | -14.92% |
API Access
Wheels Up Experience Net 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=net-margin&ticker=UP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=UP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();