Wheels Up Experience

Airlines, Airports & Air Services · Industrials

Exchange

New York Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

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.

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

-4.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-23.8% YoY

YoY Growth Rate

Earnings declining

Insider Activity

37.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 months

$86M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Profit per sale

Gross Margin

11.9%

Thin — 11.9% gross margin

Profit after running costs

Operating Margin

-41.0%

Losing money on operations — -41.0%

Return on the money invested

ROCE

-177.8%

Weak — -177.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-6.0%

Shrinking sales (-6.0% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-61.4%

Burning cash (-61.4%)

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

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

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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