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Side-by-side financial comparison of Seadrill Ltd (SDRL) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Seadrill Ltd is the larger business by last-quarter revenue ($273.0M vs $183.8M, roughly 1.5× Wheels Up Experience Inc.). Seadrill Ltd runs the higher net margin — -3.7% vs -15.7%, a 12.0% gap on every dollar of revenue. Over the past eight quarters, Wheels Up Experience Inc.'s revenue compounded faster (-3.4% CAGR vs -8.9%).
Seadrill is an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, and jack-up rigs for operations in shallow to ultra-deep water in both benign and harsh environments. It provides a contract-based service and primarily serves the oil super-majors, integrated oil and gas, state-owned national oil, and independent oil and gas companies.
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.
SDRL vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $183.8M |
| Net Profit | $-10.0M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | -1.1% | -0.9% |
| Net Margin | -3.7% | -15.7% |
| Revenue YoY | — | -10.2% |
| Net Profit YoY | — | 67.0% |
| EPS (diluted) | — | $-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 | $273.0M | $183.8M | ||
| Q3 25 | $280.0M | $185.5M | ||
| Q2 25 | $288.0M | $189.6M | ||
| Q1 25 | $248.0M | $177.5M | ||
| Q4 24 | — | $204.8M | ||
| Q3 24 | $263.0M | $193.9M | ||
| Q2 24 | $267.0M | $196.3M | ||
| Q1 24 | $275.0M | $197.1M |
| Q4 25 | $-10.0M | $-28.9M | ||
| Q3 25 | $-11.0M | $-83.7M | ||
| Q2 25 | $-42.0M | $-82.3M | ||
| Q1 25 | $-14.0M | $-99.3M | ||
| Q4 24 | — | $-87.5M | ||
| Q3 24 | $32.0M | $-57.7M | ||
| Q2 24 | $253.0M | $-97.0M | ||
| Q1 24 | $60.0M | $-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 | -1.1% | -0.9% | ||
| Q3 25 | 9.3% | -33.1% | ||
| Q2 25 | 2.1% | -31.4% | ||
| Q1 25 | 7.3% | -45.5% | ||
| Q4 24 | — | -26.0% | ||
| Q3 24 | 17.9% | -21.6% | ||
| Q2 24 | — | -40.3% | ||
| Q1 24 | 29.1% | -42.9% |
| Q4 25 | -3.7% | -15.7% | ||
| Q3 25 | -3.9% | -45.1% | ||
| Q2 25 | -14.6% | -43.4% | ||
| Q1 25 | -5.6% | -55.9% | ||
| Q4 24 | — | -42.7% | ||
| Q3 24 | 12.2% | -29.8% | ||
| Q2 24 | 94.8% | -49.4% | ||
| Q1 24 | 21.8% | -49.4% |
| Q4 25 | — | $-0.04 | ||
| Q3 25 | $-0.17 | $-0.12 | ||
| Q2 25 | $-0.68 | $-0.12 | ||
| Q1 25 | $-0.23 | $-0.14 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | $0.49 | $-0.08 | ||
| Q2 24 | $3.49 | $-0.14 | ||
| Q1 24 | $0.81 | $-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 | $339.0M | $133.9M |
| Total DebtLower is stronger | $613.0M | $671.3M |
| Stockholders' EquityBook value | $2.9B | $-392.1M |
| Total Assets | $3.9B | $968.8M |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $339.0M | $133.9M | ||
| Q3 25 | $402.0M | $125.3M | ||
| Q2 25 | $393.0M | $107.0M | ||
| Q1 25 | $404.0M | $171.8M | ||
| Q4 24 | — | $216.4M | ||
| Q3 24 | — | $115.9M | ||
| Q2 24 | $835.0M | $141.5M | ||
| Q1 24 | — | $180.9M |
| Q4 25 | $613.0M | $671.3M | ||
| Q3 25 | $612.0M | $766.5M | ||
| Q2 25 | $612.0M | $770.5M | ||
| Q1 25 | $611.0M | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | $609.0M | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $2.9B | $-392.1M | ||
| Q3 25 | $2.9B | $-374.5M | ||
| Q2 25 | $2.9B | $-347.8M | ||
| Q1 25 | $2.9B | $-288.1M | ||
| Q4 24 | — | $-202.1M | ||
| Q3 24 | $2.9B | $-117.7M | ||
| Q2 24 | $3.1B | $-72.2M | ||
| Q1 24 | $2.9B | $936.0K |
| Q4 25 | $3.9B | $968.8M | ||
| Q3 25 | $4.1B | $973.0M | ||
| Q2 25 | $4.1B | $1.0B | ||
| Q1 25 | $4.1B | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | $4.3B | $1.1B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | 0.21× | — | ||
| Q3 25 | 0.21× | — | ||
| Q2 25 | 0.21× | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.20× | — | ||
| 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 | $-40.0M | $-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.
| Q4 25 | $-40.0M | $-18.4M | ||
| Q3 25 | $28.0M | $-37.1M | ||
| Q2 25 | $11.0M | $-62.9M | ||
| Q1 25 | $-27.0M | $-47.9M | ||
| Q4 24 | — | $37.9M | ||
| Q3 24 | $-27.0M | $-16.9M | ||
| Q2 24 | $79.0M | $-25.2M | ||
| Q1 24 | $29.0M | $-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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.84× | — | ||
| Q2 24 | 0.31× | — | ||
| Q1 24 | 0.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
