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Side-by-side financial comparison of New Fortress Energy Inc. (NFE) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $183.8M, roughly 1.8× Wheels Up Experience Inc.). Wheels Up Experience Inc. runs the higher net margin — -15.7% vs -259.7%, a 244.0% gap on every dollar of revenue. On growth, New Fortress Energy Inc. posted the faster year-over-year revenue change (-7.0% vs -10.2%). Wheels Up Experience Inc. produced more free cash flow last quarter ($-58.3M vs $-134.8M). Over the past eight quarters, Wheels Up Experience Inc.'s revenue compounded faster (-3.4% CAGR vs -26.8%).
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
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.
NFE vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $326.2M | $183.8M |
| Net Profit | $-847.1M | $-28.9M |
| Gross Margin | 35.5% | 14.3% |
| Operating Margin | -193.0% | -0.9% |
| Net Margin | -259.7% | -15.7% |
| Revenue YoY | -7.0% | -10.2% |
| Net Profit YoY | -277.4% | 67.0% |
| EPS (diluted) | $-3.03 | $-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 | $326.2M | $183.8M | ||
| Q3 25 | $240.3M | $185.5M | ||
| Q2 25 | $228.1M | $189.6M | ||
| Q1 25 | $384.9M | $177.5M | ||
| Q4 24 | $350.7M | $204.8M | ||
| Q3 24 | $446.0M | $193.9M | ||
| Q2 24 | $291.2M | $196.3M | ||
| Q1 24 | $609.5M | $197.1M |
| Q4 25 | $-847.1M | $-28.9M | ||
| Q3 25 | $-263.0M | $-83.7M | ||
| Q2 25 | $-546.5M | $-82.3M | ||
| Q1 25 | $-175.4M | $-99.3M | ||
| Q4 24 | $-224.4M | $-87.5M | ||
| Q3 24 | $9.3M | $-57.7M | ||
| Q2 24 | $-88.9M | $-97.0M | ||
| Q1 24 | $54.1M | $-97.4M |
| Q4 25 | 35.5% | 14.3% | ||
| Q3 25 | 18.1% | 6.8% | ||
| Q2 25 | 8.4% | 8.3% | ||
| Q1 25 | 21.4% | 10.8% | ||
| Q4 24 | 17.6% | 13.9% | ||
| Q3 24 | 27.1% | 13.9% | ||
| Q2 24 | 23.8% | 2.3% | ||
| Q1 24 | 62.4% | -0.6% |
| Q4 25 | -193.0% | -0.9% | ||
| Q3 25 | -37.4% | -33.1% | ||
| Q2 25 | -170.3% | -31.4% | ||
| Q1 25 | -3.3% | -45.5% | ||
| Q4 24 | 65.0% | -26.0% | ||
| Q3 24 | 17.8% | -21.6% | ||
| Q2 24 | 12.3% | -40.3% | ||
| Q1 24 | 30.4% | -42.9% |
| Q4 25 | -259.7% | -15.7% | ||
| Q3 25 | -109.4% | -45.1% | ||
| Q2 25 | -239.6% | -43.4% | ||
| Q1 25 | -45.6% | -55.9% | ||
| Q4 24 | -64.0% | -42.7% | ||
| Q3 24 | 2.1% | -29.8% | ||
| Q2 24 | -30.5% | -49.4% | ||
| Q1 24 | 8.9% | -49.4% |
| Q4 25 | $-3.03 | $-0.04 | ||
| Q3 25 | $-0.96 | $-0.12 | ||
| Q2 25 | $-1.99 | $-0.12 | ||
| Q1 25 | $-0.65 | $-0.14 | ||
| Q4 24 | $-1.10 | $-0.13 | ||
| Q3 24 | $0.03 | $-0.08 | ||
| Q2 24 | $-0.42 | $-0.14 | ||
| Q1 24 | $0.23 | $-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 | $226.5M | $133.9M |
| Total DebtLower is stronger | $8.2B | $671.3M |
| Stockholders' EquityBook value | $182.6M | $-392.1M |
| Total Assets | $10.6B | $968.8M |
| Debt / EquityLower = less leverage | 44.78× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.5M | $133.9M | ||
| Q3 25 | $145.2M | $125.3M | ||
| Q2 25 | $551.1M | $107.0M | ||
| Q1 25 | $447.9M | $171.8M | ||
| Q4 24 | $492.9M | $216.4M | ||
| Q3 24 | $90.8M | $115.9M | ||
| Q2 24 | $133.0M | $141.5M | ||
| Q1 24 | $143.5M | $180.9M |
| Q4 25 | $8.2B | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | $8.9B | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $182.6M | $-392.1M | ||
| Q3 25 | $1.1B | $-374.5M | ||
| Q2 25 | $1.3B | $-347.8M | ||
| Q1 25 | $1.8B | $-288.1M | ||
| Q4 24 | $1.9B | $-202.1M | ||
| Q3 24 | $1.6B | $-117.7M | ||
| Q2 24 | $1.6B | $-72.2M | ||
| Q1 24 | $1.7B | $936.0K |
| Q4 25 | $10.6B | $968.8M | ||
| Q3 25 | $12.0B | $973.0M | ||
| Q2 25 | $12.0B | $1.0B | ||
| Q1 25 | $13.1B | $1.1B | ||
| Q4 24 | $12.9B | $1.2B | ||
| Q3 24 | $12.0B | $1.0B | ||
| Q2 24 | $11.4B | $1.1B | ||
| Q1 24 | $10.9B | $1.2B |
| Q4 25 | 44.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.74× | — | ||
| 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 | $-76.2M | $-18.4M |
| Free Cash FlowOCF − Capex | $-134.8M | $-58.3M |
| FCF MarginFCF / Revenue | -41.3% | -31.7% |
| Capex IntensityCapex / Revenue | 18.0% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-76.2M | $-18.4M | ||
| Q3 25 | $-171.0M | $-37.1M | ||
| Q2 25 | $-329.0M | $-62.9M | ||
| Q1 25 | $-7.2M | $-47.9M | ||
| Q4 24 | $445.3M | $37.9M | ||
| Q3 24 | $-20.0M | $-16.9M | ||
| Q2 24 | $113.9M | $-25.2M | ||
| Q1 24 | $63.0M | $-73.8M |
| Q4 25 | $-134.8M | $-58.3M | ||
| Q3 25 | $-231.6M | $-60.4M | ||
| Q2 25 | $-726.7M | $-78.6M | ||
| Q1 25 | $-262.3M | $-62.6M | ||
| Q4 24 | $-210.3M | $-70.2M | ||
| Q3 24 | $-367.0M | $-21.9M | ||
| Q2 24 | $-493.2M | $-30.8M | ||
| Q1 24 | $-457.9M | $-77.8M |
| Q4 25 | -41.3% | -31.7% | ||
| Q3 25 | -96.4% | -32.6% | ||
| Q2 25 | -318.6% | -41.5% | ||
| Q1 25 | -68.2% | -35.3% | ||
| Q4 24 | -60.0% | -34.3% | ||
| Q3 24 | -82.3% | -11.3% | ||
| Q2 24 | -169.3% | -15.7% | ||
| Q1 24 | -75.1% | -39.5% |
| Q4 25 | 18.0% | 21.7% | ||
| Q3 25 | 25.2% | 12.5% | ||
| Q2 25 | 174.4% | 8.3% | ||
| Q1 25 | 66.3% | 8.3% | ||
| Q4 24 | 187.0% | 52.8% | ||
| Q3 24 | 77.8% | 2.6% | ||
| Q2 24 | 208.4% | 2.9% | ||
| Q1 24 | 85.5% | 2.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -2.15× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.16× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
