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Side-by-side financial comparison of HCI Group, Inc. (HCI) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $183.8M, roughly 1.3× Wheels Up Experience Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs -15.7%, a 55.4% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs -10.2%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $-58.3M). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs -3.4%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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.
HCI vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $183.8M |
| Net Profit | $97.7M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 58.5% | -0.9% |
| Net Margin | 39.7% | -15.7% |
| Revenue YoY | 52.1% | -10.2% |
| Net Profit YoY | 3679.2% | 67.0% |
| EPS (diluted) | $7.29 | $-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 | $246.2M | $183.8M | ||
| Q3 25 | $216.3M | $185.5M | ||
| Q2 25 | $221.9M | $189.6M | ||
| Q1 25 | $216.4M | $177.5M | ||
| Q4 24 | $161.9M | $204.8M | ||
| Q3 24 | $175.3M | $193.9M | ||
| Q2 24 | $206.2M | $196.3M | ||
| Q1 24 | $206.6M | $197.1M |
| Q4 25 | $97.7M | $-28.9M | ||
| Q3 25 | $65.5M | $-83.7M | ||
| Q2 25 | $66.2M | $-82.3M | ||
| Q1 25 | $69.7M | $-99.3M | ||
| Q4 24 | $2.6M | $-87.5M | ||
| Q3 24 | $5.7M | $-57.7M | ||
| Q2 24 | $54.1M | $-97.0M | ||
| Q1 24 | $47.6M | $-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 | 58.5% | -0.9% | ||
| Q3 25 | 41.9% | -33.1% | ||
| Q2 25 | 42.5% | -31.4% | ||
| Q1 25 | 46.4% | -45.5% | ||
| Q4 24 | 3.6% | -26.0% | ||
| Q3 24 | 8.0% | -21.6% | ||
| Q2 24 | 36.9% | -40.3% | ||
| Q1 24 | 37.5% | -42.9% |
| Q4 25 | 39.7% | -15.7% | ||
| Q3 25 | 30.3% | -45.1% | ||
| Q2 25 | 29.8% | -43.4% | ||
| Q1 25 | 32.2% | -55.9% | ||
| Q4 24 | 1.6% | -42.7% | ||
| Q3 24 | 3.2% | -29.8% | ||
| Q2 24 | 26.2% | -49.4% | ||
| Q1 24 | 23.0% | -49.4% |
| Q4 25 | $7.29 | $-0.04 | ||
| Q3 25 | $4.90 | $-0.12 | ||
| Q2 25 | $5.18 | $-0.12 | ||
| Q1 25 | $5.35 | $-0.14 | ||
| Q4 24 | $0.32 | $-0.13 | ||
| Q3 24 | $0.52 | $-0.08 | ||
| Q2 24 | $4.24 | $-0.14 | ||
| Q1 24 | $3.81 | $-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 | $1.2B | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $1.0B | $-392.1M |
| Total Assets | $2.5B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $133.9M | ||
| Q3 25 | $987.9M | $125.3M | ||
| Q2 25 | $947.2M | $107.0M | ||
| Q1 25 | $754.5M | $171.8M | ||
| Q4 24 | $532.5M | $216.4M | ||
| Q3 24 | $518.8M | $115.9M | ||
| Q2 24 | $445.8M | $141.5M | ||
| Q1 24 | $655.4M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $1.0B | $-392.1M | ||
| Q3 25 | $821.8M | $-374.5M | ||
| Q2 25 | $758.6M | $-347.8M | ||
| Q1 25 | $522.7M | $-288.1M | ||
| Q4 24 | $453.3M | $-202.1M | ||
| Q3 24 | $455.3M | $-117.7M | ||
| Q2 24 | $447.3M | $-72.2M | ||
| Q1 24 | $395.7M | $936.0K |
| Q4 25 | $2.5B | $968.8M | ||
| Q3 25 | $2.3B | $973.0M | ||
| Q2 25 | $2.4B | $1.0B | ||
| Q1 25 | $2.3B | $1.1B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $1.8B | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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 | $444.4M | $-18.4M |
| Free Cash FlowOCF − Capex | $440.8M | $-58.3M |
| FCF MarginFCF / Revenue | 179.0% | -31.7% |
| Capex IntensityCapex / Revenue | 1.5% | 21.7% |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $-18.4M | ||
| Q3 25 | $26.7M | $-37.1M | ||
| Q2 25 | $145.0M | $-62.9M | ||
| Q1 25 | $162.0M | $-47.9M | ||
| Q4 24 | $331.8M | $37.9M | ||
| Q3 24 | $104.1M | $-16.9M | ||
| Q2 24 | $-29.0M | $-25.2M | ||
| Q1 24 | $182.0M | $-73.8M |
| Q4 25 | $440.8M | $-58.3M | ||
| Q3 25 | $25.9M | $-60.4M | ||
| Q2 25 | $144.5M | $-78.6M | ||
| Q1 25 | $160.3M | $-62.6M | ||
| Q4 24 | $327.8M | $-70.2M | ||
| Q3 24 | $103.2M | $-21.9M | ||
| Q2 24 | $-30.1M | $-30.8M | ||
| Q1 24 | $181.0M | $-77.8M |
| Q4 25 | 179.0% | -31.7% | ||
| Q3 25 | 12.0% | -32.6% | ||
| Q2 25 | 65.1% | -41.5% | ||
| Q1 25 | 74.1% | -35.3% | ||
| Q4 24 | 202.5% | -34.3% | ||
| Q3 24 | 58.9% | -11.3% | ||
| Q2 24 | -14.6% | -15.7% | ||
| Q1 24 | 87.6% | -39.5% |
| Q4 25 | 1.5% | 21.7% | ||
| Q3 25 | 0.4% | 12.5% | ||
| Q2 25 | 0.2% | 8.3% | ||
| Q1 25 | 0.8% | 8.3% | ||
| Q4 24 | 2.5% | 52.8% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 0.5% | 2.9% | ||
| Q1 24 | 0.5% | 2.0% |
| Q4 25 | 4.55× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | 2.32× | — | ||
| Q4 24 | 128.41× | — | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | — | ||
| Q1 24 | 3.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
UP
Segment breakdown not available.
