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Side-by-side financial comparison of ONE Group Hospitality, Inc. (STKS) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $183.8M, roughly 1.1× Wheels Up Experience Inc.). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -15.7%, a 12.6% gap on every dollar of revenue. On growth, ONE Group Hospitality, Inc. posted the faster year-over-year revenue change (-6.7% vs -10.2%). ONE Group Hospitality, Inc. produced more free cash flow last quarter ($-329.0K vs $-58.3M). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs -3.4%).
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
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.
STKS vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $207.0M | $183.8M |
| Net Profit | $-6.4M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 2.2% | -0.9% |
| Net Margin | -3.1% | -15.7% |
| Revenue YoY | -6.7% | -10.2% |
| Net Profit YoY | -531.8% | 67.0% |
| EPS (diluted) | $-0.50 | $-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 | $207.0M | $183.8M | ||
| Q3 25 | $180.2M | $185.5M | ||
| Q2 25 | $207.4M | $189.6M | ||
| Q1 25 | $211.1M | $177.5M | ||
| Q4 24 | $221.9M | $204.8M | ||
| Q3 24 | $194.0M | $193.9M | ||
| Q2 24 | $172.5M | $196.3M | ||
| Q1 24 | $85.0M | $197.1M |
| Q4 25 | $-6.4M | $-28.9M | ||
| Q3 25 | $-76.7M | $-83.7M | ||
| Q2 25 | $-10.1M | $-82.3M | ||
| Q1 25 | $975.0K | $-99.3M | ||
| Q4 24 | $1.5M | $-87.5M | ||
| Q3 24 | $-9.3M | $-57.7M | ||
| Q2 24 | $-7.3M | $-97.0M | ||
| Q1 24 | $-2.1M | $-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 | 2.2% | -0.9% | ||
| Q3 25 | -4.4% | -33.1% | ||
| Q2 25 | 0.3% | -31.4% | ||
| Q1 25 | 5.1% | -45.5% | ||
| Q4 24 | 5.5% | -26.0% | ||
| Q3 24 | -1.9% | -21.6% | ||
| Q2 24 | 0.6% | -40.3% | ||
| Q1 24 | -0.7% | -42.9% |
| Q4 25 | -3.1% | -15.7% | ||
| Q3 25 | -42.6% | -45.1% | ||
| Q2 25 | -4.9% | -43.4% | ||
| Q1 25 | 0.5% | -55.9% | ||
| Q4 24 | 0.7% | -42.7% | ||
| Q3 24 | -4.8% | -29.8% | ||
| Q2 24 | -4.3% | -49.4% | ||
| Q1 24 | -2.4% | -49.4% |
| Q4 25 | $-0.50 | $-0.04 | ||
| Q3 25 | $-2.75 | $-0.12 | ||
| Q2 25 | $-0.59 | $-0.12 | ||
| Q1 25 | $-0.21 | $-0.14 | ||
| Q4 24 | $-0.18 | $-0.13 | ||
| Q3 24 | $-0.53 | $-0.08 | ||
| Q2 24 | $-0.38 | $-0.14 | ||
| Q1 24 | $-0.07 | $-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 | $4.2M | $133.9M |
| Total DebtLower is stronger | $354.2M | $671.3M |
| Stockholders' EquityBook value | $-75.8M | $-392.1M |
| Total Assets | $884.2M | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.2M | $133.9M | ||
| Q3 25 | $5.5M | $125.3M | ||
| Q2 25 | $4.7M | $107.0M | ||
| Q1 25 | $21.4M | $171.8M | ||
| Q4 24 | $27.6M | $216.4M | ||
| Q3 24 | $28.2M | $115.9M | ||
| Q2 24 | $32.2M | $141.5M | ||
| Q1 24 | $15.4M | $180.9M |
| Q4 25 | $354.2M | $671.3M | ||
| Q3 25 | $355.0M | $766.5M | ||
| Q2 25 | $347.4M | $770.5M | ||
| Q1 25 | $348.3M | $765.8M | ||
| Q4 24 | $348.3M | $761.3M | ||
| Q3 24 | $349.1M | $596.9M | ||
| Q2 24 | $350.0M | $597.4M | ||
| Q1 24 | $73.5M | $603.2M |
| Q4 25 | $-75.8M | $-392.1M | ||
| Q3 25 | $-61.5M | $-374.5M | ||
| Q2 25 | $23.0M | $-347.8M | ||
| Q1 25 | $40.5M | $-288.1M | ||
| Q4 24 | $45.9M | $-202.1M | ||
| Q3 24 | $51.4M | $-117.7M | ||
| Q2 24 | $68.1M | $-72.2M | ||
| Q1 24 | $68.3M | $936.0K |
| Q4 25 | $884.2M | $968.8M | ||
| Q3 25 | $879.5M | $973.0M | ||
| Q2 25 | $935.7M | $1.0B | ||
| Q1 25 | $956.0M | $1.1B | ||
| Q4 24 | $960.1M | $1.2B | ||
| Q3 24 | $953.5M | $1.0B | ||
| Q2 24 | $945.9M | $1.1B | ||
| Q1 24 | $309.3M | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 15.07× | — | ||
| Q1 25 | 8.61× | — | ||
| Q4 24 | 7.59× | — | ||
| Q3 24 | 6.79× | — | ||
| Q2 24 | 5.14× | — | ||
| Q1 24 | 1.08× | 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 | $13.1M | $-18.4M |
| Free Cash FlowOCF − Capex | $-329.0K | $-58.3M |
| FCF MarginFCF / Revenue | -0.2% | -31.7% |
| Capex IntensityCapex / Revenue | 6.5% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-27.3M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $-18.4M | ||
| Q3 25 | $5.9M | $-37.1M | ||
| Q2 25 | $2.8M | $-62.9M | ||
| Q1 25 | $8.5M | $-47.9M | ||
| Q4 24 | $18.5M | $37.9M | ||
| Q3 24 | $19.1M | $-16.9M | ||
| Q2 24 | $-3.8M | $-25.2M | ||
| Q1 24 | $10.4M | $-73.8M |
| Q4 25 | $-329.0K | $-58.3M | ||
| Q3 25 | $-6.1M | $-60.4M | ||
| Q2 25 | $-15.0M | $-78.6M | ||
| Q1 25 | $-5.8M | $-62.6M | ||
| Q4 24 | $733.0K | $-70.2M | ||
| Q3 24 | $287.0K | $-21.9M | ||
| Q2 24 | $-23.0M | $-30.8M | ||
| Q1 24 | $-5.4M | $-77.8M |
| Q4 25 | -0.2% | -31.7% | ||
| Q3 25 | -3.4% | -32.6% | ||
| Q2 25 | -7.2% | -41.5% | ||
| Q1 25 | -2.7% | -35.3% | ||
| Q4 24 | 0.3% | -34.3% | ||
| Q3 24 | 0.1% | -11.3% | ||
| Q2 24 | -13.3% | -15.7% | ||
| Q1 24 | -6.4% | -39.5% |
| Q4 25 | 6.5% | 21.7% | ||
| Q3 25 | 6.7% | 12.5% | ||
| Q2 25 | 8.6% | 8.3% | ||
| Q1 25 | 6.8% | 8.3% | ||
| Q4 24 | 8.0% | 52.8% | ||
| Q3 24 | 9.7% | 2.6% | ||
| Q2 24 | 11.1% | 2.9% | ||
| Q1 24 | 18.6% | 2.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 8.76× | — | ||
| Q4 24 | 12.54× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
UP
Segment breakdown not available.
