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Side-by-side financial comparison of FIRST INTERSTATE BANCSYSTEM INC (FIBK) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
FIRST INTERSTATE BANCSYSTEM INC is the larger business by last-quarter revenue ($313.0M vs $183.8M, roughly 1.7× Wheels Up Experience Inc.). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs -15.7%, a 50.5% gap on every dollar of revenue. On growth, FIRST INTERSTATE BANCSYSTEM INC posted the faster year-over-year revenue change (19.8% vs -10.2%). Over the past eight quarters, FIRST INTERSTATE BANCSYSTEM INC's revenue compounded faster (13.7% CAGR vs -3.4%).
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
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.
FIBK vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $313.0M | $183.8M |
| Net Profit | $108.8M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 44.5% | -0.9% |
| Net Margin | 34.8% | -15.7% |
| Revenue YoY | 19.8% | -10.2% |
| Net Profit YoY | 108.8% | 67.0% |
| EPS (diluted) | $1.07 | $-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 | $313.0M | $183.8M | ||
| Q3 25 | $250.5M | $185.5M | ||
| Q2 25 | $248.3M | $189.6M | ||
| Q1 25 | $247.0M | $177.5M | ||
| Q4 24 | $261.3M | $204.8M | ||
| Q3 24 | $251.9M | $193.9M | ||
| Q2 24 | $244.3M | $196.3M | ||
| Q1 24 | $242.2M | $197.1M |
| Q4 25 | $108.8M | $-28.9M | ||
| Q3 25 | $71.4M | $-83.7M | ||
| Q2 25 | $71.7M | $-82.3M | ||
| Q1 25 | $50.2M | $-99.3M | ||
| Q4 24 | $52.1M | $-87.5M | ||
| Q3 24 | $55.5M | $-57.7M | ||
| Q2 24 | $60.0M | $-97.0M | ||
| Q1 24 | $58.4M | $-97.4M |
| 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 24 | — | -0.6% |
| Q4 25 | 44.5% | -0.9% | ||
| Q3 25 | 37.0% | -33.1% | ||
| Q2 25 | 37.7% | -31.4% | ||
| Q1 25 | 26.9% | -45.5% | ||
| Q4 24 | 25.5% | -26.0% | ||
| Q3 24 | 28.9% | -21.6% | ||
| Q2 24 | 32.1% | -40.3% | ||
| Q1 24 | 31.7% | -42.9% |
| Q4 25 | 34.8% | -15.7% | ||
| Q3 25 | 28.5% | -45.1% | ||
| Q2 25 | 28.9% | -43.4% | ||
| Q1 25 | 20.3% | -55.9% | ||
| Q4 24 | 19.9% | -42.7% | ||
| Q3 24 | 22.0% | -29.8% | ||
| Q2 24 | 24.6% | -49.4% | ||
| Q1 24 | 24.1% | -49.4% |
| Q4 25 | $1.07 | $-0.04 | ||
| Q3 25 | $0.69 | $-0.12 | ||
| Q2 25 | $0.69 | $-0.12 | ||
| Q1 25 | $0.49 | $-0.14 | ||
| Q4 24 | $0.50 | $-0.13 | ||
| Q3 24 | $0.54 | $-0.08 | ||
| Q2 24 | $0.58 | $-0.14 | ||
| Q1 24 | $0.57 | $-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 | — | $133.9M |
| Total DebtLower is stronger | $146.3M | $671.3M |
| Stockholders' EquityBook value | $3.4B | $-392.1M |
| Total Assets | $26.6B | $968.8M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $133.9M | ||
| Q3 25 | — | $125.3M | ||
| Q2 25 | — | $107.0M | ||
| Q1 25 | — | $171.8M | ||
| Q4 24 | — | $216.4M | ||
| Q3 24 | — | $115.9M | ||
| Q2 24 | — | $141.5M | ||
| Q1 24 | — | $180.9M |
| Q4 25 | $146.3M | $671.3M | ||
| Q3 25 | $146.2M | $766.5M | ||
| Q2 25 | $252.0M | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | $132.2M | $761.3M | ||
| Q3 24 | $137.3M | $596.9M | ||
| Q2 24 | $383.4M | $597.4M | ||
| Q1 24 | $370.8M | $603.2M |
| Q4 25 | $3.4B | $-392.1M | ||
| Q3 25 | $3.4B | $-374.5M | ||
| Q2 25 | $3.4B | $-347.8M | ||
| Q1 25 | $3.4B | $-288.1M | ||
| Q4 24 | $3.3B | $-202.1M | ||
| Q3 24 | $3.4B | $-117.7M | ||
| Q2 24 | $3.2B | $-72.2M | ||
| Q1 24 | $3.2B | $936.0K |
| Q4 25 | $26.6B | $968.8M | ||
| Q3 25 | $27.3B | $973.0M | ||
| Q2 25 | $27.6B | $1.0B | ||
| Q1 25 | $28.3B | $1.1B | ||
| Q4 24 | $29.1B | $1.2B | ||
| Q3 24 | $29.6B | $1.0B | ||
| Q2 24 | $30.3B | $1.1B | ||
| Q1 24 | $30.1B | $1.2B |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.12× | — | ||
| Q1 24 | 0.12× | 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 | $305.6M | $-18.4M |
| Free Cash FlowOCF − Capex | — | $-58.3M |
| FCF MarginFCF / Revenue | — | -31.7% |
| Capex IntensityCapex / Revenue | — | 21.7% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $305.6M | $-18.4M | ||
| Q3 25 | $91.7M | $-37.1M | ||
| Q2 25 | $68.1M | $-62.9M | ||
| Q1 25 | $78.5M | $-47.9M | ||
| Q4 24 | $355.0M | $37.9M | ||
| Q3 24 | $89.9M | $-16.9M | ||
| Q2 24 | $82.3M | $-25.2M | ||
| Q1 24 | $87.6M | $-73.8M |
| 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 24 | — | $-77.8M |
| 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 24 | — | -39.5% |
| 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 24 | — | 2.0% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.28× | — | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | 1.56× | — | ||
| Q4 24 | 6.81× | — | ||
| Q3 24 | 1.62× | — | ||
| Q2 24 | 1.37× | — | ||
| Q1 24 | 1.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
