Wheels Up Experience (UP) Operating Margin (2020 - 2025)
Wheels Up Experience (UP) posted quarterly Operating Margin of 33.07% for Q3 2025, down 1148.0% year-over-year from 3.16% in Q3 2024, and down 5.22% quarter-over-quarter from 31.43% in Q2 2025.
Wheels Up Experience (UP) Operating Margin (2020 - 2025) Analysis & Trends
Wheels Up Experience's Operating Margin history runs 6 years deep, the most recent figure standing at 33.07% for Q3 2025.
- In Q3 2025, Operating Margin fell 1148.0% year-over-year to 33.07%; the TTM figure through Sep 2025 stood at 33.67% (down 124.0% YoY), while the FY2024 annual figure was 32.67%, up 272.0% from the prior year.
- Operating Margin for Q3 2025 stood at 33.07%, down from 31.43% in the prior quarter.
- The five-year high for Operating Margin was 8.68% in Q2 2021, with the low at 58.91% in Q4 2021.
- The 5-year median for Operating Margin is 31.43% (2025), against an average of 32.76%.
- The sharpest annual moves came in 2021 and 2023: Operating Margin slumped 5791 bps in 2021, then surged 2791 bps in 2023.
- Wheels Up Experience's Operating Margin stood at 58.91% in 2021, then gained by 8 bps to 54.26% in 2022, then jumped by 51 bps to 26.35% in 2023, then increased by 1 bps to 26.04% in 2024, then retreated by 27 bps to 33.07% in 2025.
- Business Quant data shows UP's Operating Margin at 33.07% in Q3 2025, 31.43% in Q2 2025, and 45.49% in Q1 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Southeast Airport | 7.92 Bn | 7.27 Bn | - | - |
| 2 | Joby Aviation | 7.48 Bn | 7.48 Bn | 10.34 Mn | -675.18% |
| 3 | Central North Airport | 5.01 Bn | 4.84 Bn | - | - |
| 4 | Corporacion America Airports | 3.82 Bn | 3.06 Bn | 198.55 Mn | 25.94% |
| 5 | AerSale | 265.39 Mn | 255.33 Mn | - | - |
| 6 | Icts International N V | 224.60 Mn | 284.43 Mn | - | - |
| 7 | Wheels Up Experience | 173.04 Mn | 39.11 Mn | - | - |
| 8 | Saker Aviation Services | 5.71 Mn | -2.30 Mn | -11,875.00 | -657.41% |
| 9 | Volato | 2.17 Mn | -112,049.48 | 703,000.00 | -235.41% |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | -33.07% |
| Jun 30, 2025 | -31.43% |
| Mar 31, 2025 | -45.49% |
| Dec 31, 2024 | -26.04% |
| Sep 30, 2024 | -21.59% |
| Jun 30, 2024 | -40.28% |
| Mar 31, 2024 | -42.90% |
| Dec 31, 2023 | -26.35% |
| Sep 30, 2023 | -40.31% |
| Jun 30, 2023 | -45.66% |
| Mar 31, 2023 | -27.47% |
| Dec 31, 2022 | -54.26% |
| Sep 30, 2022 | -36.08% |
| Jun 30, 2022 | -22.12% |
| Mar 31, 2022 | -28.47% |
| Dec 31, 2021 | -58.91% |
| Sep 30, 2021 | -22.71% |
| Jun 30, 2021 | -8.68% |
| Mar 31, 2021 | -10.57% |
| Dec 31, 2020 | -1.01% |