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Side-by-side financial comparison of ONESPAWORLD HOLDINGS Ltd (OSW) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $183.8M, roughly 1.3× Wheels Up Experience Inc.). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -15.7%, a 20.7% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs -10.2%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $-58.3M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% CAGR vs -3.4%).
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.
OSW vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $242.1M | $183.8M |
| Net Profit | $12.1M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 6.8% | -0.9% |
| Net Margin | 5.0% | -15.7% |
| Revenue YoY | 11.5% | -10.2% |
| Net Profit YoY | -16.2% | 67.0% |
| EPS (diluted) | $0.12 | $-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 | $242.1M | $183.8M | ||
| Q3 25 | $258.5M | $185.5M | ||
| Q2 25 | $240.7M | $189.6M | ||
| Q1 25 | $219.6M | $177.5M | ||
| Q4 24 | $217.2M | $204.8M | ||
| Q3 24 | $241.7M | $193.9M | ||
| Q2 24 | $224.9M | $196.3M | ||
| Q1 24 | $211.2M | $197.1M |
| Q4 25 | $12.1M | $-28.9M | ||
| Q3 25 | $24.3M | $-83.7M | ||
| Q2 25 | $19.9M | $-82.3M | ||
| Q1 25 | $15.3M | $-99.3M | ||
| Q4 24 | $14.4M | $-87.5M | ||
| Q3 24 | $21.6M | $-57.7M | ||
| Q2 24 | $15.8M | $-97.0M | ||
| Q1 24 | $21.2M | $-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 | 6.8% | -0.9% | ||
| Q3 25 | 10.2% | -33.1% | ||
| Q2 25 | 9.2% | -31.4% | ||
| Q1 25 | 7.7% | -45.5% | ||
| Q4 24 | 7.9% | -26.0% | ||
| Q3 24 | 10.3% | -21.6% | ||
| Q2 24 | 8.4% | -40.3% | ||
| Q1 24 | 8.0% | -42.9% |
| Q4 25 | 5.0% | -15.7% | ||
| Q3 25 | 9.4% | -45.1% | ||
| Q2 25 | 8.3% | -43.4% | ||
| Q1 25 | 7.0% | -55.9% | ||
| Q4 24 | 6.6% | -42.7% | ||
| Q3 24 | 8.9% | -29.8% | ||
| Q2 24 | 7.0% | -49.4% | ||
| Q1 24 | 10.0% | -49.4% |
| Q4 25 | $0.12 | $-0.04 | ||
| Q3 25 | $0.23 | $-0.12 | ||
| Q2 25 | $0.19 | $-0.12 | ||
| Q1 25 | $0.15 | $-0.14 | ||
| Q4 24 | $0.13 | $-0.13 | ||
| Q3 24 | $0.20 | $-0.08 | ||
| Q2 24 | $0.15 | $-0.14 | ||
| Q1 24 | $0.21 | $-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 | $16.3M | $133.9M |
| Total DebtLower is stronger | $84.0M | $671.3M |
| Stockholders' EquityBook value | $542.6M | $-392.1M |
| Total Assets | $707.1M | $968.8M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.3M | $133.9M | ||
| Q3 25 | $29.6M | $125.3M | ||
| Q2 25 | $35.0M | $107.0M | ||
| Q1 25 | $22.6M | $171.8M | ||
| Q4 24 | $57.4M | $216.4M | ||
| Q3 24 | $48.8M | $115.9M | ||
| Q2 24 | $62.5M | $141.5M | ||
| Q1 24 | $65.4M | $180.9M |
| Q4 25 | $84.0M | $671.3M | ||
| Q3 25 | $85.2M | $766.5M | ||
| Q2 25 | $96.2M | $770.5M | ||
| Q1 25 | $97.4M | $765.8M | ||
| Q4 24 | $98.6M | $761.3M | ||
| Q3 24 | $98.7M | $596.9M | ||
| Q2 24 | $123.8M | $597.4M | ||
| Q1 24 | $138.6M | $603.2M |
| Q4 25 | $542.6M | $-392.1M | ||
| Q3 25 | $552.8M | $-374.5M | ||
| Q2 25 | $548.3M | $-347.8M | ||
| Q1 25 | $530.6M | $-288.1M | ||
| Q4 24 | $554.5M | $-202.1M | ||
| Q3 24 | $540.1M | $-117.7M | ||
| Q2 24 | $532.7M | $-72.2M | ||
| Q1 24 | $515.5M | $936.0K |
| Q4 25 | $707.1M | $968.8M | ||
| Q3 25 | $732.6M | $973.0M | ||
| Q2 25 | $731.8M | $1.0B | ||
| Q1 25 | $708.7M | $1.1B | ||
| Q4 24 | $746.4M | $1.2B | ||
| Q3 24 | $734.0M | $1.0B | ||
| Q2 24 | $756.8M | $1.1B | ||
| Q1 24 | $763.6M | $1.2B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.27× | 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 | $20.0M | $-18.4M |
| Free Cash FlowOCF − Capex | $14.9M | $-58.3M |
| FCF MarginFCF / Revenue | 6.2% | -31.7% |
| Capex IntensityCapex / Revenue | 2.1% | 21.7% |
| Cash ConversionOCF / Net Profit | 1.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $68.4M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.0M | $-18.4M | ||
| Q3 25 | $33.2M | $-37.1M | ||
| Q2 25 | $20.3M | $-62.9M | ||
| Q1 25 | $10.1M | $-47.9M | ||
| Q4 24 | $16.6M | $37.9M | ||
| Q3 24 | $28.6M | $-16.9M | ||
| Q2 24 | $18.7M | $-25.2M | ||
| Q1 24 | $15.0M | $-73.8M |
| Q4 25 | $14.9M | $-58.3M | ||
| Q3 25 | $27.6M | $-60.4M | ||
| Q2 25 | $17.6M | $-78.6M | ||
| Q1 25 | $8.4M | $-62.6M | ||
| Q4 24 | $13.2M | $-70.2M | ||
| Q3 24 | $27.5M | $-21.9M | ||
| Q2 24 | $17.6M | $-30.8M | ||
| Q1 24 | $13.7M | $-77.8M |
| Q4 25 | 6.2% | -31.7% | ||
| Q3 25 | 10.7% | -32.6% | ||
| Q2 25 | 7.3% | -41.5% | ||
| Q1 25 | 3.8% | -35.3% | ||
| Q4 24 | 6.1% | -34.3% | ||
| Q3 24 | 11.4% | -11.3% | ||
| Q2 24 | 7.8% | -15.7% | ||
| Q1 24 | 6.5% | -39.5% |
| Q4 25 | 2.1% | 21.7% | ||
| Q3 25 | 2.2% | 12.5% | ||
| Q2 25 | 1.1% | 8.3% | ||
| Q1 25 | 0.8% | 8.3% | ||
| Q4 24 | 1.5% | 52.8% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 0.5% | 2.9% | ||
| Q1 24 | 0.6% | 2.0% |
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.36× | — | ||
| Q2 25 | 1.02× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | 0.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
UP
Segment breakdown not available.
