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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Wheels Up Experience Inc. is the larger business by last-quarter revenue ($183.8M vs $110.6M, roughly 1.7× American Assets Trust, Inc.). American Assets Trust, Inc. runs the higher net margin — 6.1% vs -15.7%, a 21.8% gap on every dollar of revenue. On growth, American Assets Trust, Inc. posted the faster year-over-year revenue change (1.8% vs -10.2%). Over the past eight quarters, American Assets Trust, Inc.'s revenue compounded faster (-0.1% CAGR vs -3.4%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
AAT vs UP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $183.8M |
| Net Profit | $6.7M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 23.4% | -0.9% |
| Net Margin | 6.1% | -15.7% |
| Revenue YoY | 1.8% | -10.2% |
| Net Profit YoY | -16.3% | 67.0% |
| EPS (diluted) | $0.08 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $183.8M | ||
| Q3 25 | $109.6M | $185.5M | ||
| Q2 25 | $107.9M | $189.6M | ||
| Q1 25 | $108.6M | $177.5M | ||
| Q4 24 | $113.5M | $204.8M | ||
| Q3 24 | $122.8M | $193.9M | ||
| Q2 24 | $110.9M | $196.3M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $-28.9M | ||
| Q3 25 | $4.5M | $-83.7M | ||
| Q2 25 | $5.5M | $-82.3M | ||
| Q1 25 | $42.5M | $-99.3M | ||
| Q4 24 | — | $-87.5M | ||
| Q3 24 | $16.7M | $-57.7M | ||
| Q2 24 | $11.9M | $-97.0M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 14.3% | ||
| Q3 25 | 60.5% | 6.8% | ||
| Q2 25 | 62.6% | 8.3% | ||
| Q1 25 | 62.0% | 10.8% | ||
| Q4 24 | 61.3% | 13.9% | ||
| Q3 24 | 65.5% | 13.9% | ||
| Q2 24 | 63.6% | 2.3% |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -0.9% | ||
| Q3 25 | 22.6% | -33.1% | ||
| Q2 25 | 24.1% | -31.4% | ||
| Q1 25 | 66.3% | -45.5% | ||
| Q4 24 | 26.5% | -26.0% | ||
| Q3 24 | 30.8% | -21.6% | ||
| Q2 24 | 27.8% | -40.3% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | -15.7% | ||
| Q3 25 | 4.1% | -45.1% | ||
| Q2 25 | 5.1% | -43.4% | ||
| Q1 25 | 39.2% | -55.9% | ||
| Q4 24 | — | -42.7% | ||
| Q3 24 | 13.6% | -29.8% | ||
| Q2 24 | 10.7% | -49.4% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.04 | ||
| Q3 25 | $0.07 | $-0.12 | ||
| Q2 25 | $0.09 | $-0.12 | ||
| Q1 25 | $0.70 | $-0.14 | ||
| Q4 24 | $0.14 | $-0.13 | ||
| Q3 24 | $0.28 | $-0.08 | ||
| Q2 24 | $0.20 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $1.1B | $-392.1M |
| Total Assets | $2.9B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $133.9M | ||
| Q3 25 | $138.7M | $125.3M | ||
| Q2 25 | $143.7M | $107.0M | ||
| Q1 25 | $143.9M | $171.8M | ||
| Q4 24 | $425.7M | $216.4M | ||
| Q3 24 | $533.0M | $115.9M | ||
| Q2 24 | $114.9M | $141.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | $2.0B | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $-392.1M | ||
| Q3 25 | $1.2B | $-374.5M | ||
| Q2 25 | $1.2B | $-347.8M | ||
| Q1 25 | $1.2B | $-288.1M | ||
| Q4 24 | $1.2B | $-202.1M | ||
| Q3 24 | $1.2B | $-117.7M | ||
| Q2 24 | $1.2B | $-72.2M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $968.8M | ||
| Q3 25 | $2.9B | $973.0M | ||
| Q2 25 | $3.0B | $1.0B | ||
| Q1 25 | $3.0B | $1.1B | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $3.4B | $1.0B | ||
| Q2 24 | $3.0B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-18.4M |
| Free Cash FlowOCF − Capex | — | $-58.3M |
| FCF MarginFCF / Revenue | — | -31.7% |
| Capex IntensityCapex / Revenue | 14.5% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $-18.4M | ||
| Q3 25 | $40.5M | $-37.1M | ||
| Q2 25 | $49.2M | $-62.9M | ||
| Q1 25 | $36.9M | $-47.9M | ||
| Q4 24 | $207.1M | $37.9M | ||
| Q3 24 | $52.4M | $-16.9M | ||
| Q2 24 | $59.3M | $-25.2M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $-58.3M | ||
| Q3 25 | $23.1M | $-60.4M | ||
| Q2 25 | $28.4M | $-78.6M | ||
| Q1 25 | $20.4M | $-62.6M | ||
| Q4 24 | $136.9M | $-70.2M | ||
| Q3 24 | $28.0M | $-21.9M | ||
| Q2 24 | $43.6M | $-30.8M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | -31.7% | ||
| Q3 25 | 21.1% | -32.6% | ||
| Q2 25 | 26.3% | -41.5% | ||
| Q1 25 | 18.8% | -35.3% | ||
| Q4 24 | 120.7% | -34.3% | ||
| Q3 24 | 22.8% | -11.3% | ||
| Q2 24 | 39.3% | -15.7% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 21.7% | ||
| Q3 25 | 15.9% | 12.5% | ||
| Q2 25 | 19.3% | 8.3% | ||
| Q1 25 | 15.1% | 8.3% | ||
| Q4 24 | 61.9% | 52.8% | ||
| Q3 24 | 19.9% | 2.6% | ||
| Q2 24 | 14.1% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
UP
Segment breakdown not available.
