NASDAQ : FIP
FTAI Infrastructure Inc. — Financial statements
Industrials · Conglomerates · United States
Last price 2.86 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 338.00M
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Financial statements
FTAI Infrastructure Inc. (FIP) reported revenue of 659.21M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 659.21M | 502.52M | 331.50M | 320.47M | 261.97M | 120.22M |
| Cost of Revenue | 395.83M | 299.59M | 247.67M | 253.67M | 208.16M | 98.54M |
| Gross Profit | 263.37M | 202.93M | 83.82M | 66.80M | 53.81M | 21.68M |
| Selling, General & Admin | 36.70M | 36.91M | 2.06M | 25.30M | 23.86M | 24.38M |
| Operating Expenses | 200.39M | 169.39M | 81.47M | 106.29M | 94.60M | 78.39M |
| Operating Income | 62.98M | 33.54M | 2.36M | -39.49M | -40.80M | -56.71M |
| Interest Expense | -351.58M | -265.91M | -122.11M | -99.60M | -53.24M | -16.02M |
| Earnings From Equity Investments | 7.91M | 12.30M | -55.50M | -24.71M | -67.40M | -13.50M |
| Other Non Operating Income (Expenses) | 26.25M | 26.72M | -3.16M | 6.59M | -3.17M | -8.93M |
| EBT Excluding Unusual Items | -254.44M | -193.35M | -178.40M | -157.22M | -164.60M | -95.16M |
| Merger & Restructuring Charges | -27.76M | -27.14M | -5.46M | -4.14M | -16.84M | -14.83M |
| Gain (Loss) on Sale of Assets | 8.43M | 128.84M | 2.37M | 6.86M | -1.60M | 16.00K |
| Asset Writedown | -63.19M | -4.40M | -72.34M | -743.00K | ||
| Other Unusual Items | -231.31M | -159.55M | -79.74M | -64.44M | -23.66M | |
| Pretax Income | -568.26M | -255.60M | -333.56M | -219.68M | -206.71M | -109.97M |
| Income Tax Expense | 29.19M | -3.32M | 3.31M | 2.47M | 4.47M | -3.63M |
| Earnings From Continuing Operations | -597.45M | -252.28M | -336.88M | -222.15M | -211.17M | -106.34M |
| Minority Interest in Earnings | 48.02M | 44.88M | 42.42M | 38.41M | 33.93M | 26.47M |
| Net Income | -549.44M | -207.40M | -294.46M | -183.74M | -177.24M | -79.87M |
| Preferred Dividends & Other Adjustments | 54.08M | 50.76M | ||||
| Net Income to Common | -603.51M | -258.17M | -294.46M | -183.74M | -177.24M | -79.87M |
| Shares Outstanding (Basic) | 116.68M | 115.21M | 108.22M | 102.96M | 102.75M | 99.39M |
| Shares Outstanding (Diluted) | 116.68M | 115.21M | 108.22M | 102.96M | 102.75M | 99.39M |
| EPS (Basic) | -5.17 | -2.24 | -2.72 | -1.78 | -1.73 | -0.80 |
| EPS (Diluted) | -5.19 | -2.26 | -2.72 | -1.79 | -1.73 | -0.80 |
| Free Cash Flow | -318.87M | -399.26M | -98.10M | -95.23M | -259.83M | -202.61M |
| Free Cash Flow Per Share | -2.73 | -3.46 | -0.91 | -0.93 | -2.53 | -2.04 |
| Dividend Per Share | 0.12 | 0.12 | 0.12 | 0.12 | 0.06 | |
| Gross Margin | 39.95% | 40.38% | 25.29% | 20.84% | 20.54% | 18.03% |
| Operating Margin | 9.55% | 6.67% | 0.71% | -12.32% | -15.57% | -47.17% |
| Profit Margin | -91.55% | -51.37% | -88.83% | -57.33% | -67.66% | -66.44% |
| Free Cash Flow Margin | -48.37% | -79.45% | -29.59% | -29.72% | -99.19% | -168.54% |
| EBITDA | 226.67M | 166.03M | 81.77M | 41.50M | 29.95M | -2.70M |
| EBITDA Margin | 34.38% | 33.04% | 24.67% | 12.95% | 11.43% | -2.24% |
| D&A For EBITDA | 163.68M | 132.49M | 79.41M | 80.99M | 70.75M | 54.02M |
| EBIT | 62.98M | 33.54M | 2.36M | -39.49M | -40.80M | -56.71M |
| EBIT Margin | 9.55% | 6.67% | 0.71% | -12.32% | -15.57% | -47.17% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 32.63M | 57.35M | 27.79M | 29.37M | 36.49M | 49.87M |
| Short-Term Investments | 22.80M | 17.20M | ||||
| Cash & Short-Term Investments | 32.63M | 57.35M | 27.79M | 29.37M | 59.29M | 67.07M |
| Accounts Receivable | 89.76M | 95.39M | 52.99M | 55.99M | 60.81M | 50.30M |
| Other Receivables | 16.53M | 10.59M | 384.00K | 5.72M | ||
| Receivables | 106.29M | 119.58M | 53.38M | 83.13M | 80.81M | 57.80M |
| Inventory | 909.00K | 1.27M | 311.00K | 311.00K | 3.60M | 6.80M |
| Prepaid Expenses | 16.11M | 20.40M | 9.75M | 8.93M | 16.40M | 17.40M |
| Restricted Cash | 139.95M | 268.60M | 119.51M | 58.11M | 113.16M | 251.98M |
| Other Current Assets | 71.88M | 16.81M | 9.12M | 5.65M | 4.55M | 11.93M |
| Total Current Assets | 367.77M | 484.01M | 219.85M | 185.50M | 277.80M | 412.98M |
| Property, Plant & Equipment | 3.33B | 4.75B | 1.76B | 1.74B | 1.78B | 1.63B |
| Long-Term Investments | 21.17M | 27.24M | 12.53M | 72.70M | 73.59M | 54.41M |
| Goodwill | 275.37M | 365.70M | 275.37M | 275.37M | 260.25M | 257.14M |
| Other Intangible Assets | 55.98M | 43.17M | 46.23M | 52.62M | 60.20M | 67.74M |
| Long-Term Accounts Receivable | 9.60M | 8.90M | 8.50M | |||
| Long-Term Deferred Charges | 12.10M | 13.70M | 18.60M | 17.60M | ||
| Other Long-Term Assets | 1.67B | 29.69M | 22.16M | 19.45M | 16.03M | 14.88M |
| Total Assets | 5.75B | 5.75B | 2.37B | 2.38B | 2.48B | 2.44B |
| Accounts Payable | 222.18M | 259.35M | 166.84M | 118.80M | 132.15M | 113.06M |
| Accrued Expenses | 13.57M | 14.87M | 10.54M | 10.10M | 13.39M | 6.88M |
| Current Portion of Long-Term Debt | 473.46M | 65.44M | 48.59M | |||
| Current Portion of Leases | 10.98M | 9.11M | 7.17M | 7.22M | 7.04M | 2.90M |
| Current Unearned Revenue | 10.90M | 11.50M | 8.30M | 5.80M | 3.30M | |
| Other Current Liabilities | 599.60M | 49.73M | 9.35M | 8.72M | 3.70M | 6.63M |
| Total Current Liabilities | 1.33B | 410.00M | 250.79M | 150.64M | 159.58M | 129.47M |
| Long-Term Debt | 2.31B | 3.71B | 1.55B | 1.34B | 1.23B | 718.62M |
| Long-Term Leases | 91.47M | 71.00M | 60.89M | 62.44M | 63.15M | 67.50M |
| Pension & Post-Retirement Benefits | 34.70M | |||||
| Long-Term Deferred Tax Liabilities | 289.28M | 300.23M | 9.64M | 5.86M | ||
| Other Long-Term Liabilities | 1.08B | 314.71M | 45.47M | 81.67M | 236.13M | 29.96M |
| Total Liabilities | 5.11B | 4.80B | 1.92B | 1.64B | 1.69B | 980.25M |
| Common Stock | 1.18M | 1.16M | 1.14M | 1.01M | 994.00K | 1.62B |
| Additional Paid-In Capital | 553.59M | 623.77M | 764.38M | 843.97M | 911.60M | |
| Retained Earnings | -754.01M | -512.99M | -405.82M | -182.17M | -60.84M | |
| Comprehensive Income & Other | -130.54M | -90.62M | -157.05M | -178.51M | -300.13M | -155.46M |
| Total Common Equity | -329.78M | 21.32M | 202.65M | 484.29M | 551.62M | 1.46B |
| Minority Interest | 814.80M | 770.02M | -127.51M | -71.43M | -26.83M | -91.00K |
| Shareholders' Equity | 638.32M | 943.98M | 456.36M | 738.09M | 789.38M | 1.46B |
| Total Liabilities & Equity | 5.75B | 5.75B | 2.37B | 2.38B | 2.48B | 2.44B |
| Total Debt | 2.89B | 3.85B | 1.67B | 1.41B | 1.30B | 789.03M |
| Net Cash (Debt) | -2.86B | -3.80B | -1.64B | -1.38B | -1.24B | -721.96M |
| Net Cash Per Share | -24.51 | -32.96 | -15.16 | -13.41 | -12.08 | -7.26 |
| Filing Date Shares Outstanding | 118.18M | 118.16M | 113.94M | 101.69M | 99.45M | 99.39M |
| Total Common Shares Outstanding | 118.18M | 116.29M | 113.93M | 100.59M | 99.45M | 99.39M |
| Working Capital | -966.24M | 74.01M | -30.94M | 34.87M | 118.22M | 283.52M |
| Book Value Per Share | -2.79 | 0.18 | 1.78 | 4.81 | 5.55 | 14.71 |
| Tangible Book Value | -661.12M | -387.55M | -118.94M | 156.30M | 231.18M | 1.14B |
| Tangible Book Value Per Share | -5.59 | -3.33 | -1.04 | 1.55 | 2.32 | 11.44 |
| Land | 360.56M | 513.84M | 181.87M | 182.32M | 183.64M | 149.91M |
| Buildings | 39.32M | 73.00M | 19.02M | 18.77M | 19.36M | 19.16M |
| Machinery | 1.56B | 2.47B | 1.39B | 1.37B | 1.31B | 1.13B |
| Construction In Progress | 360.75M | 263.50M | 153.24M | 76.49M | 127.94M | 118.08M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -549.44M | -207.40M | -294.46M | -183.74M | -177.24M | -79.87M |
| Depreciation & Amortization | 163.68M | 132.49M | 79.41M | 80.99M | 70.75M | 54.02M |
| Other Amortization | 73.70M | 34.32M | 14.93M | 11.62M | 6.30M | 2.60M |
| Loss (Gain) From Sale of Assets | -8.89M | -128.84M | -5.86M | -6.86M | 1.60M | -16.00K |
| Asset Writedown & Restructuring Costs | 63.19M | 4.40M | 72.34M | 743.00K | ||
| Loss (Gain) on Equity Investments | -7.91M | -12.30M | 55.50M | 24.71M | 67.40M | 13.50M |
| Stock-Based Compensation | 25.35M | 11.08M | 8.64M | 9.20M | 4.15M | 4.04M |
| Provision & Write-off of Bad Debts | -888.00K | -888.00K | 863.00K | 1.98M | 575.00K | 74.00K |
| Other Operating Activities | 188.93M | 91.01M | 39.24M | 29.16M | -7.42M | -32.56M |
| Change in Accounts Receivable | -12.42M | -9.92M | 2.13M | 2.84M | -3.30M | -26.80M |
| Change in Accounts Payable | 26.42M | 51.74M | 20.97M | 8.55M | 7.01M | 15.47M |
| Change in Other Net Operating Assets | -19.20M | -83.70M | -8.98M | 26.31M | -12.51M | -12.18M |
| Operating Cash Flow | -57.48M | -118.01M | -15.28M | 5.51M | -42.69M | -61.72M |
| Capital Expenditures | -261.40M | -281.25M | -82.82M | -100.75M | -217.14M | -140.90M |
| Sale of Property, Plant & Equipment | 9.62M | 2.77M | 1.20M | 1.19M | 7.14M | 4.49M |
| Cash Acquisitions | -1.13B | -856.64M | -4.45M | -3.82M | -627.09M | |
| Divestitures | 35.00K | |||||
| Sale (Purchase) of Intangibles | 3.49M | |||||
| Investment in Securities | -20.35M | -18.55M | -8.83M | -7.08M | -6.00M | -55.22M |
| Other Investing Activities | -31.17M | -36.04M | -47.45M | -10.00M | ||
| Investing Cash Flow | -1.40B | -1.14B | -118.14M | -147.12M | -267.27M | -828.72M |
| Long-Term Debt Issued | 1.79B | 498.43M | 181.35M | 519.02M | 451.10M | |
| Long-Term Debt Repaid | -780.36M | -247.59M | -75.13M | |||
| Net Debt Issued (Repaid) | 764.98M | 1.01B | 250.83M | 106.22M | 519.02M | 451.10M |
| Issuance of Common Stock | 2.69M | 2.69M | ||||
| Preferred Dividends Paid | -25.52M | -14.66M | -1.76M | -1.76M | ||
| Common Dividends Paid | -14.04M | -13.83M | -13.12M | -12.37M | -3.16M | |
| Dividends Paid | -14.04M | -39.35M | -27.79M | -14.13M | -4.92M | |
| Other Financing Activities | -93.47M | -90.61M | -29.81M | -12.64M | -647.36M | 685.77M |
| Financing Cash Flow | 1.21B | 1.44B | 193.23M | 79.45M | 157.74M | 1.14B |
| Net Cash Flow | -275.69M | 178.65M | 59.82M | -62.16M | -152.21M | 246.43M |
| Free Cash Flow | -318.87M | -399.26M | -98.10M | -95.23M | -259.83M | -202.61M |
| Free Cash Flow Margin | -48.37% | -79.45% | -29.59% | -29.72% | -99.19% | -168.54% |
| Free Cash Flow Per Share | -2.73 | -3.46 | -0.91 | -0.93 | -2.53 | -2.04 |
| Levered Free Cash Flow | 564.76M | -342.77M | -35.53M | -32.60M | -41.36M | -332.70M |
| Unlevered Free Cash Flow | 710.80M | -210.89M | 25.86M | 18.03M | -14.38M | -325.29M |
| Cash Interest Paid | 219.63M | 219.63M | 94.40M | 88.41M | 38.08M | 7.30M |
| Cash Income Tax Paid | 379.00K | 334.00K | ||||
| Change in Working Capital | -5.21M | -41.88M | 14.13M | 37.70M | -8.80M | -23.50M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 327.36M | 536.12M | 825.79M | 387.02M | 293.27M | |
| Enterprise Value | 3.19B | 5.20B | 2.66B | 1.99B | 1.69B | |
| Last Close Price | 2.86 | 4.52 | 6.94 | 3.66 | 2.68 | |
| Forward PE | 61.25 | 61.25 | 61.25 | |||
| PS Ratio | 0.50 | 1.07 | 2.49 | 1.21 | 1.12 | |
| PB Ratio | 0.52 | 0.57 | 1.81 | 0.52 | 0.37 | |
| P/TBV Ratio | 2.48 | 1.27 | ||||
| P/OCF Ratio | 70.20 | |||||
| EV/Sales Ratio | 4.84 | 10.34 | 8.02 | 6.22 | 6.46 | |
| EV/EBITDA Ratio | 14.08 | 31.30 | 32.52 | 48.06 | 56.45 | |
| EV/EBIT Ratio | 50.65 | 154.93 | 1,127.83 | |||
| Debt / Equity Ratio | 4.53 | 4.08 | 3.65 | 1.91 | 1.65 | 0.54 |
| Debt / EBITDA Ratio | 12.04 | 21.44 | 17.43 | 25.48 | 31.21 | 152.85 |
| Net Debt / Equity Ratio | 4.48 | 4.02 | 3.59 | 1.87 | 1.57 | 0.49 |
| Net Debt / EBITDA Ratio | 12.62 | 22.87 | 20.06 | 33.28 | 41.43 | -267.69 |
| Net Debt / FCF Ratio | -8.97 | -9.51 | -16.72 | -14.50 | -4.78 | -3.56 |
| Asset Turnover | 0.13 | 0.12 | 0.14 | 0.13 | 0.11 | 0.06 |
| Inventory Turnover | 379.22 | 796.38 | 129.72 | 40.03 | 28.56 | |
| Quick Ratio | 0.10 | 0.40 | 0.32 | 0.60 | 0.75 | 0.91 |
| Current Ratio | 0.28 | 1.18 | 0.88 | 1.23 | 1.74 | 3.19 |
| Return on Equity (ROE) | -84.49% | -36.03% | -56.41% | -29.09% | -18.76% | -8.65% |
| Return on Assets (ROA) | 0.78% | 0.52% | 0.06% | -1.02% | -1.04% | -1.85% |
| Return on Invested Capital (ROIC) | 1.53% | 0.98% | 0.11% | -1.90% | -1.94% | -3.24% |
| Return on Capital Employed (ROCE) | 1.40% | 0.60% | 0.10% | -1.80% | -1.80% | -2.50% |
| Earnings Yield | -187.24% | -38.69% | -35.66% | -47.48% | -60.44% | |
| FCF Yield | -96.53% | -74.47% | -11.88% | -24.61% | -88.60% | |
| Dividend Yield | 4.33% | 2.60% | 1.66% | 3.12% | 2.04% | |
| Buyback Yield / Dilution | -3.12% | -6.47% | -5.11% | -0.21% | -3.38% | |
| Total Shareholder Return | 1.01% | -3.86% | -3.45% | 2.91% | -1.34% |