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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $183.8M, roughly 1.3× Wheels Up Experience Inc.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -15.7%, a 20.1% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -10.2%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-58.3M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -3.4%).
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.
CSW vs UP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $183.8M |
| Net Profit | $10.3M | $-28.9M |
| Gross Margin | 39.7% | 14.3% |
| Operating Margin | 7.4% | -0.9% |
| Net Margin | 4.4% | -15.7% |
| Revenue YoY | 20.3% | -10.2% |
| Net Profit YoY | -61.9% | 67.0% |
| EPS (diluted) | $0.62 | $-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 | $233.0M | $183.8M | ||
| Q3 25 | $277.0M | $185.5M | ||
| Q2 25 | $263.6M | $189.6M | ||
| Q1 25 | $230.5M | $177.5M | ||
| Q4 24 | $193.6M | $204.8M | ||
| Q3 24 | $227.9M | $193.9M | ||
| Q2 24 | $226.2M | $196.3M | ||
| Q1 24 | $210.9M | $197.1M |
| Q4 25 | $10.3M | $-28.9M | ||
| Q3 25 | $40.7M | $-83.7M | ||
| Q2 25 | $40.9M | $-82.3M | ||
| Q1 25 | $35.1M | $-99.3M | ||
| Q4 24 | $26.9M | $-87.5M | ||
| Q3 24 | $36.1M | $-57.7M | ||
| Q2 24 | $38.6M | $-97.0M | ||
| Q1 24 | $31.8M | $-97.4M |
| Q4 25 | 39.7% | 14.3% | ||
| Q3 25 | 43.0% | 6.8% | ||
| Q2 25 | 43.8% | 8.3% | ||
| Q1 25 | 44.2% | 10.8% | ||
| Q4 24 | 41.4% | 13.9% | ||
| Q3 24 | 45.6% | 13.9% | ||
| Q2 24 | 47.5% | 2.3% | ||
| Q1 24 | 44.4% | -0.6% |
| Q4 25 | 7.4% | -0.9% | ||
| Q3 25 | 20.5% | -33.1% | ||
| Q2 25 | 20.8% | -31.4% | ||
| Q1 25 | 19.5% | -45.5% | ||
| Q4 24 | 15.3% | -26.0% | ||
| Q3 24 | 22.6% | -21.6% | ||
| Q2 24 | 24.3% | -40.3% | ||
| Q1 24 | 21.0% | -42.9% |
| Q4 25 | 4.4% | -15.7% | ||
| Q3 25 | 14.7% | -45.1% | ||
| Q2 25 | 15.5% | -43.4% | ||
| Q1 25 | 15.2% | -55.9% | ||
| Q4 24 | 13.9% | -42.7% | ||
| Q3 24 | 15.8% | -29.8% | ||
| Q2 24 | 17.1% | -49.4% | ||
| Q1 24 | 15.1% | -49.4% |
| Q4 25 | $0.62 | $-0.04 | ||
| Q3 25 | $2.41 | $-0.12 | ||
| Q2 25 | $2.43 | $-0.12 | ||
| Q1 25 | $2.05 | $-0.14 | ||
| Q4 24 | $1.60 | $-0.13 | ||
| Q3 24 | $2.26 | $-0.08 | ||
| Q2 24 | $2.47 | $-0.14 | ||
| Q1 24 | $2.03 | $-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 | $40.2M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $1.1B | $-392.1M |
| Total Assets | $2.3B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $133.9M | ||
| Q3 25 | $31.5M | $125.3M | ||
| Q2 25 | $38.0M | $107.0M | ||
| Q1 25 | $225.8M | $171.8M | ||
| Q4 24 | $213.8M | $216.4M | ||
| Q3 24 | $273.2M | $115.9M | ||
| Q2 24 | $18.9M | $141.5M | ||
| Q1 24 | $22.2M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | $800.1M | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | $166.0M | $603.2M |
| Q4 25 | $1.1B | $-392.1M | ||
| Q3 25 | $1.1B | $-374.5M | ||
| Q2 25 | $1.1B | $-347.8M | ||
| Q1 25 | $1.1B | $-288.1M | ||
| Q4 24 | $1.0B | $-202.1M | ||
| Q3 24 | $1.0B | $-117.7M | ||
| Q2 24 | $650.2M | $-72.2M | ||
| Q1 24 | $615.7M | $936.0K |
| Q4 25 | $2.3B | $968.8M | ||
| Q3 25 | $1.5B | $973.0M | ||
| Q2 25 | $1.5B | $1.0B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.0B | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | 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 | $28.9M | $-18.4M |
| Free Cash FlowOCF − Capex | $22.7M | $-58.3M |
| FCF MarginFCF / Revenue | 9.8% | -31.7% |
| Capex IntensityCapex / Revenue | 2.6% | 21.7% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $-18.4M | ||
| Q3 25 | $61.8M | $-37.1M | ||
| Q2 25 | $60.6M | $-62.9M | ||
| Q1 25 | $27.3M | $-47.9M | ||
| Q4 24 | $11.6M | $37.9M | ||
| Q3 24 | $66.8M | $-16.9M | ||
| Q2 24 | $62.7M | $-25.2M | ||
| Q1 24 | $22.4M | $-73.8M |
| Q4 25 | $22.7M | $-58.3M | ||
| Q3 25 | $58.7M | $-60.4M | ||
| Q2 25 | $57.7M | $-78.6M | ||
| Q1 25 | $22.8M | $-62.6M | ||
| Q4 24 | $8.5M | $-70.2M | ||
| Q3 24 | $61.3M | $-21.9M | ||
| Q2 24 | $59.6M | $-30.8M | ||
| Q1 24 | $17.5M | $-77.8M |
| Q4 25 | 9.8% | -31.7% | ||
| Q3 25 | 21.2% | -32.6% | ||
| Q2 25 | 21.9% | -41.5% | ||
| Q1 25 | 9.9% | -35.3% | ||
| Q4 24 | 4.4% | -34.3% | ||
| Q3 24 | 26.9% | -11.3% | ||
| Q2 24 | 26.3% | -15.7% | ||
| Q1 24 | 8.3% | -39.5% |
| Q4 25 | 2.6% | 21.7% | ||
| Q3 25 | 1.1% | 12.5% | ||
| Q2 25 | 1.1% | 8.3% | ||
| Q1 25 | 2.0% | 8.3% | ||
| Q4 24 | 1.6% | 52.8% | ||
| Q3 24 | 2.4% | 2.6% | ||
| Q2 24 | 1.4% | 2.9% | ||
| Q1 24 | 2.3% | 2.0% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
UP
Segment breakdown not available.
