Wheels Up Experience (UP) Cash Flow: Operating & Free Cash Flow

Wheels Up Experience Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Wheels Up Experience Inc. (UP) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	-294.22	-339.64	-487.39	-555.55	-197.23	-85.41	-106.87
Depreciation & Amortization	61.17	56.55	58.53	65.94	54.20	58.53	39.35
Deferred Income Tax	0.00	0.00	0.00	0.00	0.00	0.00	0.53
Stock Based Compensation	45.43	45.98	25.63	88.98	49.67	3.34	1.88
Change in Working Capital	-5.30	84.01	-397.03	-6.64	231.54	224.45	38.29
Change in Accounts Receivable	2.22	7.14	26.90	-21.41	-21.78	21.47	1.41
Change in Inventory	-3.17	2.86	4.69	-51.16	-3.42	-0.64	-0.07
Change in Accounts Payable	-9.25	-2.88	-8.09	-9.70	13.12	-13.87	6.73
Change in Other Working Capital	4.91	76.88	-420.52	-46.82	0.62	217.48	30.22
Other Operating Activities	26.62	75.22	134.97	176.58	0.62	8.73	1.94
Net Cash from Operating Activities	-166.30	-77.89	-665.29	-230.69	126.49	209.64	-24.88
Investing Activities
Capital Expenditures	-116.86	-140.24	-40.91	-123.66	-60.08	-15.52	-8.07
Acquisitions	20.69	7.89	13.20	-75.09	7.84	97.10	-28.33
Purchases of Investments	0.00	0.00	0.00	0.00	0.00	0.00	-2.48
Sales/Maturities of Investments	0.00	0.00	0.00	-27.69	0.00	0.00	11.99
Other Investing Activities	265.07	70.64	52.08	11.10	0.39	-8.42	-14.42
Net Cash from Investing Activities	180.37	-46.68	40.87	-175.24	-38.67	81.58	-41.32
Financing Activities
Debt Repayment	-144.25	80.74	322.68	259.20	-214.08	-62.79	-37.71
Common Stock Issued	47.52	0.00	0.00	0.00	2.11	0.00	0.00
Common Stock Repurchased	-1.63	-0.49	-0.03	-7.69	0.00	0.00	0.00
Other Financing Activities	-0.15	-1.59	-21.70	-6.73	585.90	0.00	125.09
Net Cash from Financing Activities	-98.51	78.66	300.95	244.79	374.03	-62.79	87.38
Summary
Effect of Forex Changes on Cash	2.48	-0.45	-3.87	-5.42	9.93	0.00	0.00
Net Change in Cash	-81.97	-46.36	-327.33	-166.57	461.85	228.44	21.19
Cash at Beginning of Period	246.47	292.83	620.15	786.72	324.88	96.44	75.25
Cash at End of Period	164.50	246.47	292.83	620.15	786.72	324.88	96.44
Free Cash Flow	-283.15	-218.13	-706.19	-354.35	66.41	194.12	-32.95
Supplemental Disclosures
Interest Paid	-	23.56	31.40	-	11.66	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Wheels Up Experience Cash Flow

What is Wheels Up Experience's free cash flow?

Wheels Up Experience had negative free cash flow of $283.15M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$166.29M minus $116.86M of capital expenditures.

How much does Wheels Up Experience spend on capital expenditures?

Wheels Up Experience spent $116.86M on capital expenditures in fiscal 2025, compared with $140.24M a year earlier.

Does Wheels Up Experience pay dividends or buy back shares?

Yes. In fiscal 2025 Wheels Up Experience returned $1.63M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition