vs
Side-by-side financial comparison of Wheels Up Experience Inc. (UP) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($208.0M vs $183.8M, roughly 1.1× Wheels Up Experience Inc.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs -15.7%, a 32.0% gap on every dollar of revenue. On growth, Wheels Up Experience Inc. posted the faster year-over-year revenue change (-10.2% vs -10.9%). Wheels Up Experience Inc. produced more free cash flow last quarter ($-58.3M vs $-74.1M). Over the past eight quarters, VIRTUS INVESTMENT PARTNERS, INC.'s revenue compounded faster (-3.2% 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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
UP vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.8M | $208.0M |
| Net Profit | $-28.9M | $33.9M |
| Gross Margin | 14.3% | — |
| Operating Margin | -0.9% | 19.1% |
| Net Margin | -15.7% | 16.3% |
| Revenue YoY | -10.2% | -10.9% |
| Net Profit YoY | 67.0% | -14.2% |
| EPS (diluted) | $-0.04 | $5.15 |
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 | $183.8M | $208.0M | ||
| Q3 25 | $185.5M | $216.4M | ||
| Q2 25 | $189.6M | $210.5M | ||
| Q1 25 | $177.5M | $217.9M | ||
| Q4 24 | $204.8M | $233.5M | ||
| Q3 24 | $193.9M | $227.0M | ||
| Q2 24 | $196.3M | $224.4M | ||
| Q1 24 | $197.1M | $222.0M |
| Q4 25 | $-28.9M | $33.9M | ||
| Q3 25 | $-83.7M | $31.3M | ||
| Q2 25 | $-82.3M | $42.7M | ||
| Q1 25 | $-99.3M | $28.1M | ||
| Q4 24 | $-87.5M | $39.5M | ||
| Q3 24 | $-57.7M | $49.1M | ||
| Q2 24 | $-97.0M | $26.0M | ||
| Q1 24 | $-97.4M | $37.9M |
| 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 | -0.9% | 19.1% | ||
| Q3 25 | -33.1% | 21.7% | ||
| Q2 25 | -31.4% | 21.5% | ||
| Q1 25 | -45.5% | 16.8% | ||
| Q4 24 | -26.0% | 21.7% | ||
| Q3 24 | -21.6% | 24.3% | ||
| Q2 24 | -40.3% | 19.7% | ||
| Q1 24 | -42.9% | 14.5% |
| Q4 25 | -15.7% | 16.3% | ||
| Q3 25 | -45.1% | 14.5% | ||
| Q2 25 | -43.4% | 20.3% | ||
| Q1 25 | -55.9% | 12.9% | ||
| Q4 24 | -42.7% | 16.9% | ||
| Q3 24 | -29.8% | 21.6% | ||
| Q2 24 | -49.4% | 11.6% | ||
| Q1 24 | -49.4% | 17.1% |
| Q4 25 | $-0.04 | $5.15 | ||
| Q3 25 | $-0.12 | $4.65 | ||
| Q2 25 | $-0.12 | $6.12 | ||
| Q1 25 | $-0.14 | $4.05 | ||
| Q4 24 | $-0.13 | $4.65 | ||
| Q3 24 | $-0.08 | $5.71 | ||
| Q2 24 | $-0.14 | $2.43 | ||
| Q1 24 | $-0.14 | $4.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $133.9M | — |
| Total DebtLower is stronger | $671.3M | $390.0M |
| Stockholders' EquityBook value | $-392.1M | $934.0M |
| Total Assets | $968.8M | $4.3B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $133.9M | — | ||
| Q3 25 | $125.3M | — | ||
| Q2 25 | $107.0M | — | ||
| Q1 25 | $171.8M | — | ||
| Q4 24 | $216.4M | — | ||
| Q3 24 | $115.9M | — | ||
| Q2 24 | $141.5M | — | ||
| Q1 24 | $180.9M | — |
| Q4 25 | $671.3M | $390.0M | ||
| Q3 25 | $766.5M | $390.6M | ||
| Q2 25 | $770.5M | $231.3M | ||
| Q1 25 | $765.8M | $231.7M | ||
| Q4 24 | $761.3M | $232.1M | ||
| Q3 24 | $596.9M | $237.5M | ||
| Q2 24 | $597.4M | $247.6M | ||
| Q1 24 | $603.2M | $253.0M |
| Q4 25 | $-392.1M | $934.0M | ||
| Q3 25 | $-374.5M | $918.7M | ||
| Q2 25 | $-347.8M | $896.4M | ||
| Q1 25 | $-288.1M | $893.7M | ||
| Q4 24 | $-202.1M | $897.5M | ||
| Q3 24 | $-117.7M | $889.0M | ||
| Q2 24 | $-72.2M | $868.7M | ||
| Q1 24 | $936.0K | $871.7M |
| Q4 25 | $968.8M | $4.3B | ||
| Q3 25 | $973.0M | $3.9B | ||
| Q2 25 | $1.0B | $3.7B | ||
| Q1 25 | $1.1B | $3.7B | ||
| Q4 24 | $1.2B | $4.0B | ||
| Q3 24 | $1.0B | $3.6B | ||
| Q2 24 | $1.1B | $3.6B | ||
| Q1 24 | $1.2B | $3.5B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | 644.43× | 0.29× |
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 | $-67.2M |
| Free Cash FlowOCF − Capex | $-58.3M | $-74.1M |
| FCF MarginFCF / Revenue | -31.7% | -35.6% |
| Capex IntensityCapex / Revenue | 21.7% | 3.3% |
| Cash ConversionOCF / Net Profit | — | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-259.9M | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.4M | $-67.2M | ||
| Q3 25 | $-37.1M | $108.3M | ||
| Q2 25 | $-62.9M | $75.8M | ||
| Q1 25 | $-47.9M | $-3.8M | ||
| Q4 24 | $37.9M | $1.8M | ||
| Q3 24 | $-16.9M | $69.1M | ||
| Q2 24 | $-25.2M | $70.0M | ||
| Q1 24 | $-73.8M | $-34.5M |
| Q4 25 | $-58.3M | $-74.1M | ||
| Q3 25 | $-60.4M | $106.9M | ||
| Q2 25 | $-78.6M | $74.2M | ||
| Q1 25 | $-62.6M | $-6.8M | ||
| Q4 24 | $-70.2M | $-3.8M | ||
| Q3 24 | $-21.9M | $68.7M | ||
| Q2 24 | $-30.8M | $68.6M | ||
| Q1 24 | $-77.8M | $-36.5M |
| Q4 25 | -31.7% | -35.6% | ||
| Q3 25 | -32.6% | 49.4% | ||
| Q2 25 | -41.5% | 35.2% | ||
| Q1 25 | -35.3% | -3.1% | ||
| Q4 24 | -34.3% | -1.6% | ||
| Q3 24 | -11.3% | 30.3% | ||
| Q2 24 | -15.7% | 30.6% | ||
| Q1 24 | -39.5% | -16.4% |
| Q4 25 | 21.7% | 3.3% | ||
| Q3 25 | 12.5% | 0.7% | ||
| Q2 25 | 8.3% | 0.7% | ||
| Q1 25 | 8.3% | 1.4% | ||
| Q4 24 | 52.8% | 2.4% | ||
| Q3 24 | 2.6% | 0.2% | ||
| Q2 24 | 2.9% | 0.6% | ||
| Q1 24 | 2.0% | 0.9% |
| Q4 25 | — | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× | ||
| Q1 24 | — | -0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
UP
Segment breakdown not available.
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
