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Wheels Up Experience vs Bristow: revenue, profit, margins and growth compared

Wheels Up Experience brought in $736.5M of revenue in fiscal 2025, Bristow $1.5B in fiscal 2025. Revenue changed by -7.0% at Wheels Up Experience and +5.3% at Bristow on the year before, so Bristow grew faster. Wheels Up Experience kept -39.9% of its revenue as net profit, Bristow 8.7%. Free cash flow was -$259.9M at Wheels Up Experience and $56.4M at Bristow.

Side by side, latest fiscal year

UPVTOL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$736.5M$1.5B
Revenue growth-7.0%+5.3%
Net income-$294.2M$129.1M
Net margin-39.9%8.7%
Free cash flow-$259.9M$56.4M
Free cash flow margin-35.3%3.8%
Earnings per share (diluted)-$0.42$4.32
Cash$133.9M$286.2M
Debt$671.3M$671.5M
Price to earningsn/a9.9
Market value$136.8M$1.3B
Dividend yieldn/an/a
Rank by revenue in sector#510 of 778 · Consumer discretionary#398 of 778 · Consumer discretionary

Over the years

Revenue
UP FY2019: $384.9MUP FY2020: $695MUP FY2021: $1.2BUP FY2022: $1.6BUP FY2023: $1.3BUP FY2024: $792.1MUP FY2025: $736.5MVTOL FY2019: $1.4BVTOL FY2019: $226.1MVTOL FY2021: $1.2BVTOL FY2022: $1.2BVTOL FY2022: $1.2BVTOL FY2023: $1.3BVTOL FY2024: $1.4BVTOL FY2025: $1.5BFY19FY20FY21FY22FY23FY24FY25
UP $736.5MVTOL $1.5B
Net income
UP FY2019: -$96.3MUP FY2020: -$78.6MUP FY2021: -$190MUP FY2022: -$555.2MUP FY2023: -$487.4MUP FY2024: -$339.6MUP FY2025: -$294.2MVTOL FY2019: -$336.8MVTOL FY2019: -$3.6MVTOL FY2021: -$56.1MVTOL FY2022: -$15.8MVTOL FY2022: $9.2MVTOL FY2023: -$6.8MVTOL FY2024: $94.8MVTOL FY2025: $129.1MFY19FY20FY21FY22FY23FY24FY25
UP -$294.2MVTOL $129.1M
Net margin
UP FY2019: -25.0%UP FY2020: -11.3%UP FY2021: -15.9%UP FY2022: -35.1%UP FY2023: -38.9%UP FY2024: -42.9%UP FY2025: -39.9%VTOL FY2019: -24.6%VTOL FY2019: -1.6%VTOL FY2021: -4.8%VTOL FY2022: -1.3%VTOL FY2022: 0.8%VTOL FY2023: -0.5%VTOL FY2024: 6.7%VTOL FY2025: 8.7%FY19FY20FY21FY22FY23FY24FY25
UP -39.9%VTOL 8.7%
Revenue growth
UP FY2020: +80.6%UP FY2021: +71.8%UP FY2022: +32.3%UP FY2023: -20.7%UP FY2024: -36.8%UP FY2025: -7.0%VTOL FY2019: -83.5%VTOL FY2022: +0.6%VTOL FY2022: +2.1%VTOL FY2023: +7.2%VTOL FY2024: +9.1%VTOL FY2025: +5.3%FY19FY20FY21FY22FY23FY24FY25
UP -7.0%VTOL +5.3%
Free cash flow
UP FY2019: -$29MUP FY2020: $202.5MUP FY2021: $111.3MUP FY2022: -$314.2MUP FY2023: -$685.5MUP FY2024: -$200.7MUP FY2025: -$259.9MVTOL FY2019: -$150.3MVTOL FY2019: $21MVTOL FY2021: $82MVTOL FY2022: $92.8MVTOL FY2023: -$49.5MVTOL FY2024: -$78MVTOL FY2025: $56.4MFY19FY20FY21FY22FY23FY24FY25
UP -$259.9MVTOL $56.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Wheels Up Experience and Bristow

Which is bigger by revenue, Wheels Up Experience or Bristow?

Bristow is bigger by revenue: $1.5B in fiscal 2025, against $736.5M for Wheels Up Experience in fiscal 2025.

Which keeps more of its revenue as profit, Wheels Up Experience or Bristow?

Wheels Up Experience had a net margin of -39.9% in fiscal 2025; Bristow had 8.7% in fiscal 2025.

Which grew revenue faster, Wheels Up Experience or Bristow?

In their latest fiscal years revenue changed by -7.0% at Wheels Up Experience and +5.3% at Bristow.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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