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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($348.6M vs $183.8M, roughly 1.9× Wheels Up Experience Inc.). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs -15.7%, a 20.5% gap on every dollar of revenue. On growth, APOGEE ENTERPRISES, INC. posted the faster year-over-year revenue change (2.1% vs -10.2%). APOGEE ENTERPRISES, INC. produced more free cash flow last quarter ($22.9M vs $-58.3M). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (-1.9% CAGR vs -3.4%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
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.
APOG vs UP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $348.6M | $183.8M |
| Net Profit | $16.5M | $-28.9M |
| Gross Margin | 23.8% | 14.3% |
| Operating Margin | 7.1% | -0.9% |
| Net Margin | 4.7% | -15.7% |
| Revenue YoY | 2.1% | -10.2% |
| Net Profit YoY | -21.2% | 67.0% |
| EPS (diluted) | $0.77 | $-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.
| Q4 25 | $348.6M | $183.8M | ||
| Q3 25 | $358.2M | $185.5M | ||
| Q2 25 | $346.6M | $189.6M | ||
| Q1 25 | $345.7M | $177.5M | ||
| Q4 24 | $341.3M | $204.8M | ||
| Q3 24 | $342.4M | $193.9M | ||
| Q2 24 | $331.5M | $196.3M | ||
| Q1 24 | $361.8M | $197.1M |
| Q4 25 | $16.5M | $-28.9M | ||
| Q3 25 | $23.6M | $-83.7M | ||
| Q2 25 | $-2.7M | $-82.3M | ||
| Q1 25 | $2.5M | $-99.3M | ||
| Q4 24 | $21.0M | $-87.5M | ||
| Q3 24 | $30.6M | $-57.7M | ||
| Q2 24 | $31.0M | $-97.0M | ||
| Q1 24 | $15.7M | $-97.4M |
| Q4 25 | 23.8% | 14.3% | ||
| Q3 25 | 23.1% | 6.8% | ||
| Q2 25 | 21.7% | 8.3% | ||
| Q1 25 | 21.6% | 10.8% | ||
| Q4 24 | 26.1% | 13.9% | ||
| Q3 24 | 28.4% | 13.9% | ||
| Q2 24 | 29.8% | 2.3% | ||
| Q1 24 | 24.4% | -0.6% |
| Q4 25 | 7.1% | -0.9% | ||
| Q3 25 | 7.5% | -33.1% | ||
| Q2 25 | 2.0% | -31.4% | ||
| Q1 25 | 1.8% | -45.5% | ||
| Q4 24 | 8.4% | -26.0% | ||
| Q3 24 | 12.3% | -21.6% | ||
| Q2 24 | 12.5% | -40.3% | ||
| Q1 24 | 6.0% | -42.9% |
| Q4 25 | 4.7% | -15.7% | ||
| Q3 25 | 6.6% | -45.1% | ||
| Q2 25 | -0.8% | -43.4% | ||
| Q1 25 | 0.7% | -55.9% | ||
| Q4 24 | 6.1% | -42.7% | ||
| Q3 24 | 8.9% | -29.8% | ||
| Q2 24 | 9.4% | -49.4% | ||
| Q1 24 | 4.3% | -49.4% |
| Q4 25 | $0.77 | $-0.04 | ||
| Q3 25 | $1.10 | $-0.12 | ||
| Q2 25 | $-0.13 | $-0.12 | ||
| Q1 25 | $0.12 | $-0.14 | ||
| Q4 24 | $0.96 | $-0.13 | ||
| Q3 24 | $1.40 | $-0.08 | ||
| Q2 24 | $1.41 | $-0.14 | ||
| Q1 24 | $0.71 | $-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 | $41.3M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $512.3M | $-392.1M |
| Total Assets | $1.1B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.3M | $133.9M | ||
| Q3 25 | $39.5M | $125.3M | ||
| Q2 25 | $32.8M | $107.0M | ||
| Q1 25 | $41.4M | $171.8M | ||
| Q4 24 | $43.9M | $216.4M | ||
| Q3 24 | $51.0M | $115.9M | ||
| Q2 24 | $30.4M | $141.5M | ||
| Q1 24 | $37.2M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | $285.0M | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | $62.0M | $603.2M |
| Q4 25 | $512.3M | $-392.1M | ||
| Q3 25 | $500.2M | $-374.5M | ||
| Q2 25 | $481.8M | $-347.8M | ||
| Q1 25 | $487.9M | $-288.1M | ||
| Q4 24 | $522.1M | $-202.1M | ||
| Q3 24 | $506.4M | $-117.7M | ||
| Q2 24 | $480.0M | $-72.2M | ||
| Q1 24 | $471.0M | $936.0K |
| Q4 25 | $1.1B | $968.8M | ||
| Q3 25 | $1.2B | $973.0M | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $917.1M | $1.0B | ||
| Q2 24 | $889.0M | $1.1B | ||
| Q1 24 | $884.1M | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.13× | 644.43× |
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 | $29.3M | $-18.4M |
| Free Cash FlowOCF − Capex | $22.9M | $-58.3M |
| FCF MarginFCF / Revenue | 6.6% | -31.7% |
| Capex IntensityCapex / Revenue | 1.9% | 21.7% |
| Cash ConversionOCF / Net Profit | 1.77× | — |
| TTM Free Cash FlowTrailing 4 quarters | $67.4M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $-18.4M | ||
| Q3 25 | $57.1M | $-37.1M | ||
| Q2 25 | $-19.8M | $-62.9M | ||
| Q1 25 | $30.0M | $-47.9M | ||
| Q4 24 | $31.0M | $37.9M | ||
| Q3 24 | $58.7M | $-16.9M | ||
| Q2 24 | $5.5M | $-25.2M | ||
| Q1 24 | $74.9M | $-73.8M |
| Q4 25 | $22.9M | $-58.3M | ||
| Q3 25 | $52.4M | $-60.4M | ||
| Q2 25 | $-26.9M | $-78.6M | ||
| Q1 25 | $19.1M | $-62.6M | ||
| Q4 24 | $22.0M | $-70.2M | ||
| Q3 24 | $50.2M | $-21.9M | ||
| Q2 24 | $-1.8M | $-30.8M | ||
| Q1 24 | $58.7M | $-77.8M |
| Q4 25 | 6.6% | -31.7% | ||
| Q3 25 | 14.6% | -32.6% | ||
| Q2 25 | -7.8% | -41.5% | ||
| Q1 25 | 5.5% | -35.3% | ||
| Q4 24 | 6.4% | -34.3% | ||
| Q3 24 | 14.7% | -11.3% | ||
| Q2 24 | -0.5% | -15.7% | ||
| Q1 24 | 16.2% | -39.5% |
| Q4 25 | 1.9% | 21.7% | ||
| Q3 25 | 1.3% | 12.5% | ||
| Q2 25 | 2.1% | 8.3% | ||
| Q1 25 | 3.2% | 8.3% | ||
| Q4 24 | 2.6% | 52.8% | ||
| Q3 24 | 2.5% | 2.6% | ||
| Q2 24 | 2.2% | 2.9% | ||
| Q1 24 | 4.5% | 2.0% |
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.08× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.92× | — | ||
| Q2 24 | 0.18× | — | ||
| Q1 24 | 4.76× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Transferred At Point In Time | $163.0M | 47% |
| Architectural Services Segment | $105.2M | 30% |
| Performance Surfaces | $53.0M | 15% |
| UW Interco LLC | $27.9M | 8% |
UP
Segment breakdown not available.
