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Side-by-side financial comparison of CVR PARTNERS, LP (UAN) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Wheels Up Experience Inc. is the larger business by last-quarter revenue ($183.8M vs $180.0M, roughly 1.0× CVR PARTNERS, LP). CVR PARTNERS, LP runs the higher net margin — 27.7% vs -15.7%, a 43.4% gap on every dollar of revenue. On growth, CVR PARTNERS, LP posted the faster year-over-year revenue change (26.0% vs -10.2%). Over the past eight quarters, CVR PARTNERS, LP's revenue compounded faster (16.4% CAGR vs -3.4%).
CVR Partners, LP is a leading North American producer of nitrogen-based fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia. It serves agricultural, industrial and commercial markets across the U.S. and Canada, delivering cost-effective, high-quality nutrient solutions for crop production and diverse industrial use cases.
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.
UAN vs UP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $180.0M | $183.8M |
| Net Profit | $49.9M | $-28.9M |
| Gross Margin | 37.5% | 14.3% |
| Operating Margin | 32.0% | -0.9% |
| Net Margin | 27.7% | -15.7% |
| Revenue YoY | 26.0% | -10.2% |
| Net Profit YoY | 84.3% | 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.
| Q1 26 | $180.0M | — | ||
| Q4 25 | $131.1M | $183.8M | ||
| Q3 25 | $163.5M | $185.5M | ||
| Q2 25 | $168.6M | $189.6M | ||
| Q1 25 | $142.9M | $177.5M | ||
| Q4 24 | $139.6M | $204.8M | ||
| Q3 24 | $125.2M | $193.9M | ||
| Q2 24 | $132.9M | $196.3M |
| Q1 26 | $49.9M | — | ||
| Q4 25 | $-10.3M | $-28.9M | ||
| Q3 25 | $43.1M | $-83.7M | ||
| Q2 25 | $38.8M | $-82.3M | ||
| Q1 25 | $27.1M | $-99.3M | ||
| Q4 24 | $18.3M | $-87.5M | ||
| Q3 24 | $3.8M | $-57.7M | ||
| Q2 24 | $26.2M | $-97.0M |
| Q1 26 | 37.5% | — | ||
| Q4 25 | 4.4% | 14.3% | ||
| Q3 25 | 37.0% | 6.8% | ||
| Q2 25 | 32.4% | 8.3% | ||
| Q1 25 | 29.7% | 10.8% | ||
| Q4 24 | 23.8% | 13.9% | ||
| Q3 24 | 14.7% | 13.9% | ||
| Q2 24 | 30.0% | 2.3% |
| Q1 26 | 32.0% | — | ||
| Q4 25 | -2.2% | -0.9% | ||
| Q3 25 | 31.0% | -33.1% | ||
| Q2 25 | 27.5% | -31.4% | ||
| Q1 25 | 24.2% | -45.5% | ||
| Q4 24 | 18.4% | -26.0% | ||
| Q3 24 | 8.8% | -21.6% | ||
| Q2 24 | 25.3% | -40.3% |
| Q1 26 | 27.7% | — | ||
| Q4 25 | -7.8% | -15.7% | ||
| Q3 25 | 26.3% | -45.1% | ||
| Q2 25 | 23.0% | -43.4% | ||
| Q1 25 | 19.0% | -55.9% | ||
| Q4 24 | 13.1% | -42.7% | ||
| Q3 24 | 3.0% | -29.8% | ||
| Q2 24 | 19.7% | -49.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.98 | $-0.04 | ||
| Q3 25 | $4.08 | $-0.12 | ||
| Q2 25 | $3.67 | $-0.12 | ||
| Q1 25 | $2.56 | $-0.14 | ||
| Q4 24 | $1.73 | $-0.13 | ||
| Q3 24 | $0.36 | $-0.08 | ||
| Q2 24 | $2.48 | $-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 | $128.1M | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | — | $-392.1M |
| Total Assets | $1.0B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.1M | — | ||
| Q4 25 | $69.2M | $133.9M | ||
| Q3 25 | $156.2M | $125.3M | ||
| Q2 25 | $114.4M | $107.0M | ||
| Q1 25 | $121.8M | $171.8M | ||
| Q4 24 | $90.9M | $216.4M | ||
| Q3 24 | $110.5M | $115.9M | ||
| Q2 24 | $47.5M | $141.5M |
| Q1 26 | — | — | ||
| Q4 25 | $569.1M | $671.3M | ||
| Q3 25 | $569.1M | $766.5M | ||
| Q2 25 | $569.2M | $770.5M | ||
| Q1 25 | $569.3M | $765.8M | ||
| Q4 24 | $568.0M | $761.3M | ||
| Q3 24 | $547.7M | $596.9M | ||
| Q2 24 | $547.6M | $597.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-392.1M | ||
| Q3 25 | — | $-374.5M | ||
| Q2 25 | — | $-347.8M | ||
| Q1 25 | — | $-288.1M | ||
| Q4 24 | — | $-202.1M | ||
| Q3 24 | — | $-117.7M | ||
| Q2 24 | — | $-72.2M |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $969.5M | $968.8M | ||
| Q3 25 | $1.0B | $973.0M | ||
| Q2 25 | $998.0M | $1.0B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $986.6M | $1.0B | ||
| Q2 24 | $959.4M | $1.1B |
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 | — | $-18.4M |
| Free Cash FlowOCF − Capex | — | $-58.3M |
| FCF MarginFCF / Revenue | — | -31.7% |
| Capex IntensityCapex / Revenue | 7.6% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-21.6M | $-18.4M | ||
| Q3 25 | $91.7M | $-37.1M | ||
| Q2 25 | $24.1M | $-62.9M | ||
| Q1 25 | $55.4M | $-47.9M | ||
| Q4 24 | $12.8M | $37.9M | ||
| Q3 24 | $86.7M | $-16.9M | ||
| Q2 24 | $8.6M | $-25.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-45.2M | $-58.3M | ||
| Q3 25 | $80.1M | $-60.4M | ||
| Q2 25 | $18.4M | $-78.6M | ||
| Q1 25 | $45.5M | $-62.6M | ||
| Q4 24 | $-5.6M | $-70.2M | ||
| Q3 24 | $82.3M | $-21.9M | ||
| Q2 24 | $2.4M | $-30.8M |
| Q1 26 | — | — | ||
| Q4 25 | -34.5% | -31.7% | ||
| Q3 25 | 49.0% | -32.6% | ||
| Q2 25 | 10.9% | -41.5% | ||
| Q1 25 | 31.9% | -35.3% | ||
| Q4 24 | -4.0% | -34.3% | ||
| Q3 24 | 65.7% | -11.3% | ||
| Q2 24 | 1.8% | -15.7% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 18.0% | 21.7% | ||
| Q3 25 | 7.1% | 12.5% | ||
| Q2 25 | 3.4% | 8.3% | ||
| Q1 25 | 6.9% | 8.3% | ||
| Q4 24 | 13.1% | 52.8% | ||
| Q3 24 | 3.6% | 2.6% | ||
| Q2 24 | 4.6% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.13× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 2.04× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 22.78× | — | ||
| Q2 24 | 0.33× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
UAN
| Fertilizer sales | $166.1M | 92% |
| Other | $14.0M | 8% |
UP
Segment breakdown not available.
