Wheels Up Experience

Airlines, Airports & Air Services · Industrials

Price

$6.32

-0.09 (-1.40%)

Market Cap

$229.2M

Exchange

New York Stock Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+3347.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.0M (2021) → 35.3M (2025)

Wheels Up is a private aviation company that lets members fly on private jets without owning one. Instead of buying a plane, customers pay for access to a large fleet of aircraft on demand. The company serves wealthy individuals and businesses across the United States who want the convenience of private air travel.

Wheels Up makes money through membership fees, flight charges, and aircraft management services. It operates mainly in the U.S. and has partnerships with Delta Air Lines, which took a significant stake in the company during a financial restructuring in 2023. The private aviation market is competitive, with rivals like NetJets and Flexjet, and Wheels Up has struggled to turn a profit — its very thin gross margin and deep operating losses show the business spends far more than it earns. The key challenge going forward is cutting costs and reaching profitability before its cash runs out.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-4.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+18.2% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$39M/ year

→ Flat (-5% vs prior year)

5.3% of revenue

In line with sector average (4%)

Steady R&D investment year-over-year

Insider Activity

37.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 months

$89M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Wheels Up Experience has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

-1.2%

Thin — -1.2% gross margin

Operating Margin

-35.1%

Losing money on operations — -35.1%

ROCE

N/A

Data not available

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Growth

Sales YoY

-5.8%

Shrinking sales (-5.8% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-49.8%

Burning cash (-49.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

—

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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