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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) 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 $158.8M, roughly 1.2× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs -15.7%, a 53.5% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs -10.2%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs -3.4%).
Essential Properties Realty Trust is a publicly traded real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of single-tenant net-leased commercial properties across the United States. Its assets primarily cover essential service-oriented sectors including casual dining, automotive services, medical clinics, early childhood education centers and light industrial facilities, with tenants mostly holding robust long-term operating track records.
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.
EPRT vs UP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $183.8M |
| Net Profit | $60.0M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 56.5% | -0.9% |
| Net Margin | 37.8% | -15.7% |
| Revenue YoY | 22.8% | -10.2% |
| Net Profit YoY | 6.5% | 67.0% |
| EPS (diluted) | $0.28 | $-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 | $158.8M | — | ||
| Q4 25 | $149.9M | $183.8M | ||
| Q3 25 | $144.9M | $185.5M | ||
| Q2 25 | $137.1M | $189.6M | ||
| Q1 25 | $129.4M | $177.5M | ||
| Q4 24 | $119.7M | $204.8M | ||
| Q3 24 | $117.1M | $193.9M | ||
| Q2 24 | $109.3M | $196.3M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $-28.9M | ||
| Q3 25 | $65.6M | $-83.7M | ||
| Q2 25 | $63.2M | $-82.3M | ||
| Q1 25 | $56.1M | $-99.3M | ||
| Q4 24 | $55.4M | $-87.5M | ||
| Q3 24 | $49.1M | $-57.7M | ||
| Q2 24 | $51.5M | $-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 | 56.5% | — | ||
| Q4 25 | 65.9% | -0.9% | ||
| Q3 25 | 64.7% | -33.1% | ||
| Q2 25 | 64.1% | -31.4% | ||
| Q1 25 | 61.6% | -45.5% | ||
| Q4 24 | 66.1% | -26.0% | ||
| Q3 24 | 59.7% | -21.6% | ||
| Q2 24 | 61.1% | -40.3% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | -15.7% | ||
| Q3 25 | 45.3% | -45.1% | ||
| Q2 25 | 46.1% | -43.4% | ||
| Q1 25 | 43.4% | -55.9% | ||
| Q4 24 | 46.3% | -42.7% | ||
| Q3 24 | 42.0% | -29.8% | ||
| Q2 24 | 47.1% | -49.4% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $-0.04 | ||
| Q3 25 | $0.33 | $-0.12 | ||
| Q2 25 | $0.32 | $-0.12 | ||
| Q1 25 | $0.29 | $-0.14 | ||
| Q4 24 | $0.31 | $-0.13 | ||
| Q3 24 | $0.27 | $-0.08 | ||
| Q2 24 | $0.29 | $-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 | $15.2M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $4.4B | $-392.1M |
| Total Assets | $7.2B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $133.9M | ||
| Q3 25 | $23.8M | $125.3M | ||
| Q2 25 | $20.8M | $107.0M | ||
| Q1 25 | $47.0M | $171.8M | ||
| Q4 24 | $40.7M | $216.4M | ||
| Q3 24 | $32.7M | $115.9M | ||
| Q2 24 | $23.6M | $141.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $671.3M | ||
| Q3 25 | $2.6B | $766.5M | ||
| Q2 25 | $2.3B | $770.5M | ||
| Q1 25 | $2.1B | $765.8M | ||
| Q4 24 | $2.1B | $761.3M | ||
| Q3 24 | $2.2B | $596.9M | ||
| Q2 24 | $1.9B | $597.4M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $-392.1M | ||
| Q3 25 | $3.8B | $-374.5M | ||
| Q2 25 | $3.8B | $-347.8M | ||
| Q1 25 | $3.8B | $-288.1M | ||
| Q4 24 | $3.6B | $-202.1M | ||
| Q3 24 | $3.2B | $-117.7M | ||
| Q2 24 | $3.2B | $-72.2M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $968.8M | ||
| Q3 25 | $6.6B | $973.0M | ||
| Q2 25 | $6.3B | $1.0B | ||
| Q1 25 | $6.1B | $1.1B | ||
| Q4 24 | $5.8B | $1.2B | ||
| Q3 24 | $5.5B | $1.0B | ||
| Q2 24 | $5.3B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.69× | — | ||
| Q2 24 | 0.59× | — |
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 | $381.1M | $-18.4M | ||
| Q3 25 | $99.0M | $-37.1M | ||
| Q2 25 | $99.8M | $-62.9M | ||
| Q1 25 | $77.2M | $-47.9M | ||
| Q4 24 | $308.5M | $37.9M | ||
| Q3 24 | $73.5M | $-16.9M | ||
| Q2 24 | $81.1M | $-25.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-58.3M | ||
| Q3 25 | — | $-60.4M | ||
| Q2 25 | — | $-78.6M | ||
| Q1 25 | — | $-62.6M | ||
| Q4 24 | — | $-70.2M | ||
| Q3 24 | — | $-21.9M | ||
| Q2 24 | — | $-30.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -31.7% | ||
| Q3 25 | — | -32.6% | ||
| Q2 25 | — | -41.5% | ||
| Q1 25 | — | -35.3% | ||
| Q4 24 | — | -34.3% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | — | -15.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | — | 52.8% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | — | ||
| Q3 25 | 1.51× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 5.57× | — | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | 1.57× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
UP
Segment breakdown not available.
