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Side-by-side financial comparison of Employers Holdings, Inc. (EIG) 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 $170.5M, roughly 1.1× Employers Holdings, Inc.). On growth, Wheels Up Experience Inc. posted the faster year-over-year revenue change (-10.2% vs -21.3%). Over the past eight quarters, Wheels Up Experience Inc.'s revenue compounded faster (-3.4% CAGR vs -11.4%).
Employers Holdings, Inc. is a U.S.-headquartered insurance holding company that specializes in offering workers' compensation insurance and customized risk management services primarily for small and medium-sized enterprises across the United States. It mainly serves clients in low-to-medium hazard industries, helping them mitigate workplace safety risks and meet relevant regulatory requirements for employee protection.
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.
EIG vs UP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $170.5M | $183.8M |
| Net Profit | — | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | — | -0.9% |
| Net Margin | — | -15.7% |
| Revenue YoY | -21.3% | -10.2% |
| Net Profit YoY | — | 67.0% |
| EPS (diluted) | — | $-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 | $170.5M | — | ||
| Q4 25 | $188.5M | $183.8M | ||
| Q3 25 | $239.3M | $185.5M | ||
| Q2 25 | $246.3M | $189.6M | ||
| Q1 25 | $202.6M | $177.5M | ||
| Q4 24 | $216.6M | $204.8M | ||
| Q3 24 | $224.0M | $193.9M | ||
| Q2 24 | $217.0M | $196.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-28.9M | ||
| Q3 25 | $-8.3M | $-83.7M | ||
| Q2 25 | $29.7M | $-82.3M | ||
| Q1 25 | $12.8M | $-99.3M | ||
| Q4 24 | — | $-87.5M | ||
| Q3 24 | $30.3M | $-57.7M | ||
| Q2 24 | $31.7M | $-97.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.9% | ||
| Q3 25 | -4.7% | -33.1% | ||
| Q2 25 | 15.0% | -31.4% | ||
| Q1 25 | 7.8% | -45.5% | ||
| Q4 24 | — | -26.0% | ||
| Q3 24 | 16.4% | -21.6% | ||
| Q2 24 | 18.4% | -40.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | -15.7% | ||
| Q3 25 | -3.5% | -45.1% | ||
| Q2 25 | 12.1% | -43.4% | ||
| Q1 25 | 6.3% | -55.9% | ||
| Q4 24 | — | -42.7% | ||
| Q3 24 | 13.5% | -29.8% | ||
| Q2 24 | 14.6% | -49.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-0.04 | ||
| Q3 25 | $-0.36 | $-0.12 | ||
| Q2 25 | $1.23 | $-0.12 | ||
| Q1 25 | $0.52 | $-0.14 | ||
| Q4 24 | $1.14 | $-0.13 | ||
| Q3 24 | $1.21 | $-0.08 | ||
| Q2 24 | $1.25 | $-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 | $169.9M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $955.7M | $-392.1M |
| Total Assets | $3.4B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $169.9M | — | ||
| Q4 25 | $169.9M | $133.9M | ||
| Q3 25 | $172.4M | $125.3M | ||
| Q2 25 | $78.1M | $107.0M | ||
| Q1 25 | $100.4M | $171.8M | ||
| Q4 24 | $68.4M | $216.4M | ||
| Q3 24 | $173.9M | $115.9M | ||
| Q2 24 | $126.4M | $141.5M |
| Q1 26 | — | — | ||
| Q4 25 | $19.0M | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | $0 | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M |
| Q1 26 | $955.7M | — | ||
| Q4 25 | $955.7M | $-392.1M | ||
| Q3 25 | $1.0B | $-374.5M | ||
| Q2 25 | $1.1B | $-347.8M | ||
| Q1 25 | $1.1B | $-288.1M | ||
| Q4 24 | $1.1B | $-202.1M | ||
| Q3 24 | $1.1B | $-117.7M | ||
| Q2 24 | $1.0B | $-72.2M |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $968.8M | ||
| Q3 25 | $3.5B | $973.0M | ||
| Q2 25 | $3.5B | $1.0B | ||
| Q1 25 | $3.6B | $1.1B | ||
| Q4 24 | $3.5B | $1.2B | ||
| Q3 24 | $3.6B | $1.0B | ||
| Q2 24 | $3.5B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.02× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| 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 | — | 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 | $44.7M | $-18.4M | ||
| Q3 25 | $29.4M | $-37.1M | ||
| Q2 25 | $0 | $-62.9M | ||
| Q1 25 | $14.6M | $-47.9M | ||
| Q4 24 | $76.4M | $37.9M | ||
| Q3 24 | $51.0M | $-16.9M | ||
| Q2 24 | $11.7M | $-25.2M |
| Q1 26 | — | — | ||
| Q4 25 | $44.6M | $-58.3M | ||
| Q3 25 | — | $-60.4M | ||
| Q2 25 | — | $-78.6M | ||
| Q1 25 | — | $-62.6M | ||
| Q4 24 | $76.3M | $-70.2M | ||
| Q3 24 | — | $-21.9M | ||
| Q2 24 | — | $-30.8M |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | -31.7% | ||
| Q3 25 | — | -32.6% | ||
| Q2 25 | — | -41.5% | ||
| Q1 25 | — | -35.3% | ||
| Q4 24 | 35.2% | -34.3% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | — | -15.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 21.7% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | 0.0% | 52.8% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 1.14× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 0.37× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
