Wheels Up Experience Inc. Class A Common Stock (UP)

FairStock Score: 26/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Wheels Up is the sort of company Benjamin Graham would ask to see earnings before discussing price. In fiscal 2025, the year ended 2025-12-31, it reported revenue of $736.5M and a net loss of $294.2M. That followed revenue of $792.1M and a net loss of $339.6M in fiscal 2024, and revenue of $1.3B and a net loss of $487.4M in fiscal 2023. So the losses have narrowed, but the top line has shrunk sharply. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $182.0M and net income was -$107.2M—a -58.93% margin. That is worse than fiscal Q2 2025, when revenue was $189.6M and net income was -$82.3M. A business that loses more as revenue falls has no visible moat or pricing power in these figures. The balance-sheet signs are poor: FairStock calculates a trailing free cash flow of -$446.0M and an FCF yield of -358.5% against the $124.4M market cap at the 2026-10-13 close. Its Altman Z-Score is -4.60, and ROCE is -14.17%. The P/E of -0.41 simply reflects losses; it is not a valuation bargain. The FairStock Score of 26/100 and Piotroski F-Score of 4/9 support caution. The computed Lynch category is none because it lost money in each of the last four years. I see no margin of safety. Until Wheels Up can fund itself and earn a profit, the stock is a speculative ticket on a turnaround, not a Graham-style value investment.

In plain English: Wheels Up sells private flying services, including memberships, charters, cargo, government flights, and maintenance. The business is losing a lot of money and burning cash, and sales have fallen from earlier years. Even after a big share price drop, the numbers do not show a cheap, profitable business; they show a struggling one.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer