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Side-by-side financial comparison of Federal Realty Investment Trust (FRT) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Federal Realty Investment Trust is the larger business by last-quarter revenue ($336.0M vs $183.8M, roughly 1.8× Wheels Up Experience Inc.). Federal Realty Investment Trust runs the higher net margin — 38.6% vs -15.7%, a 54.3% gap on every dollar of revenue. On growth, Federal Realty Investment Trust posted the faster year-over-year revenue change (8.7% vs -10.2%). Over the past eight quarters, Federal Realty Investment Trust's revenue compounded faster (6.5% CAGR vs -3.4%).
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
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.
FRT vs UP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $336.0M | $183.8M |
| Net Profit | $129.7M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 53.8% | -0.9% |
| Net Margin | 38.6% | -15.7% |
| Revenue YoY | 8.7% | -10.2% |
| Net Profit YoY | 103.5% | 67.0% |
| EPS (diluted) | $1.49 | $-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 | $336.0M | — | ||
| Q4 25 | $336.0M | $183.8M | ||
| Q3 25 | $322.3M | $185.5M | ||
| Q2 25 | $311.5M | $189.6M | ||
| Q1 25 | $309.2M | $177.5M | ||
| Q4 24 | $311.4M | $204.8M | ||
| Q3 24 | $303.6M | $193.9M | ||
| Q2 24 | $296.1M | $196.3M |
| Q1 26 | $129.7M | — | ||
| Q4 25 | $129.7M | $-28.9M | ||
| Q3 25 | $61.6M | $-83.7M | ||
| Q2 25 | $155.9M | $-82.3M | ||
| Q1 25 | $63.8M | $-99.3M | ||
| Q4 24 | $65.5M | $-87.5M | ||
| Q3 24 | $61.0M | $-57.7M | ||
| Q2 24 | $112.0M | $-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 | 53.8% | — | ||
| Q4 25 | 53.8% | -0.9% | ||
| Q3 25 | 34.3% | -33.1% | ||
| Q2 25 | 65.1% | -31.4% | ||
| Q1 25 | 35.0% | -45.5% | ||
| Q4 24 | 35.1% | -26.0% | ||
| Q3 24 | 34.9% | -21.6% | ||
| Q2 24 | 53.0% | -40.3% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | 38.6% | -15.7% | ||
| Q3 25 | 19.1% | -45.1% | ||
| Q2 25 | 50.0% | -43.4% | ||
| Q1 25 | 20.6% | -55.9% | ||
| Q4 24 | 21.0% | -42.7% | ||
| Q3 24 | 20.1% | -29.8% | ||
| Q2 24 | 37.8% | -49.4% |
| Q1 26 | $1.49 | — | ||
| Q4 25 | $1.49 | $-0.04 | ||
| Q3 25 | $0.69 | $-0.12 | ||
| Q2 25 | $1.78 | $-0.12 | ||
| Q1 25 | $0.72 | $-0.14 | ||
| Q4 24 | $0.74 | $-0.13 | ||
| Q3 24 | $0.70 | $-0.08 | ||
| Q2 24 | $1.32 | $-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 | $107.4M | $133.9M |
| Total DebtLower is stronger | $5.0B | $671.3M |
| Stockholders' EquityBook value | $3.2B | $-392.1M |
| Total Assets | $9.1B | $968.8M |
| Debt / EquityLower = less leverage | 1.53× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.4M | — | ||
| Q4 25 | $107.4M | $133.9M | ||
| Q3 25 | $111.3M | $125.3M | ||
| Q2 25 | $177.0M | $107.0M | ||
| Q1 25 | $109.2M | $171.8M | ||
| Q4 24 | $123.4M | $216.4M | ||
| Q3 24 | $97.0M | $115.9M | ||
| Q2 24 | $103.2M | $141.5M |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | $4.5B | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $-392.1M | ||
| Q3 25 | $3.2B | $-374.5M | ||
| Q2 25 | $3.2B | $-347.8M | ||
| Q1 25 | $3.2B | $-288.1M | ||
| Q4 24 | $3.2B | $-202.1M | ||
| Q3 24 | $3.1B | $-117.7M | ||
| Q2 24 | $3.0B | $-72.2M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.1B | $968.8M | ||
| Q3 25 | $8.9B | $973.0M | ||
| Q2 25 | $8.6B | $1.0B | ||
| Q1 25 | $8.6B | $1.1B | ||
| Q4 24 | $8.5B | $1.2B | ||
| Q3 24 | $8.5B | $1.0B | ||
| Q2 24 | $8.4B | $1.1B |
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.53× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.42× | — | ||
| 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 | $622.4M | $-18.4M | ||
| Q3 25 | $147.8M | $-37.1M | ||
| Q2 25 | $150.7M | $-62.9M | ||
| Q1 25 | $179.0M | $-47.9M | ||
| Q4 24 | $574.6M | $37.9M | ||
| Q3 24 | $144.1M | $-16.9M | ||
| Q2 24 | $169.7M | $-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 | 4.80× | — | ||
| Q3 25 | 2.40× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 8.77× | — | ||
| Q3 24 | 2.36× | — | ||
| Q2 24 | 1.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
