FIP · Ftai Infrastructure Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $188.36M | - | $140.56M | $122.29M | $96.16M | - | $83.31M | $84.89M | $82.53M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $3.55M | - | $3.20M | $3.86M | $5.11M | - | $2.99M | $2.84M | $4.86M | - |
| Total Operating Expenses | $185.55M | - | $120.00M | $129.08M | $104.60M | - | $90.58M | $87.92M | $93.88M | - |
| D&A | $50.69M | - | $34.81M | $34.00M | $25.01M | - | $19.49M | $20.16M | $20.52M | - |
| Operating Income | ($123.69M) | - | ($99.46M) | ($69.01M) | $78.65M | - | ($43.05M) | ($47.87M) | ($48.49M) | - |
| Interest Expense | $82.49M | - | $73.31M | $59.20M | $43.11M | - | $31.51M | $29.69M | $27.59M | - |
| Income Tax | $3.52M | - | $5.08M | $952.0K | ($41.51M) | - | ($92.0K) | $267.0K | $1.80M | - |
| Net Income | ($150.17M) | - | ($118.35M) | ($79.82M) | $109.72M | - | ($49.97M) | ($54.35M) | ($56.58M) | - |
| EPS - Basic | ($1.32) | - | ($1.38) | ($0.73) | $0.95 | - | ($0.45) | ($0.52) | ($0.54) | - |
| EPS - Diluted | ($1.32) | - | ($1.38) | ($0.73) | $0.89 | - | ($0.45) | ($0.52) | ($0.54) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $37.86M | $57.35M | $34.72M | $33.63M | $26.32M | $27.79M | $20.30M | $33.10M | $22.97M | $29.37M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $958.0K | $1.27M | - | - | - | $311.0K | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $397.58M | $484.01M | $442.83M | $539.04M | $318.70M | $219.85M | $247.07M | $289.24M | $164.53M | $185.50M |
| Total Assets | $5.69B | $5.75B | $5.45B | $4.41B | $4.14B | $2.37B | $2.44B | $2.45B | $2.34B | $2.38B |
| Current Liabilities | $361.72M | $410.00M | $1.77B | $362.76M | $371.14M | $250.79M | $173.68M | $137.62M | $239.77M | $150.64M |
| Long-term Debt | $3.79B | $3.71B | $2.21B | $3.00B | $2.66B | $1.54B | $1.54B | $1.55B | $1.27B | $1.34B |
| Total Liabilities | $4.87B | $4.80B | $4.37B | $3.63B | $3.28B | $1.92B | $1.82B | $1.81B | $1.68B | $1.64B |
| Stockholders' Equity | ($122.46M) | $21.32M | $181.06M | $375.47M | $476.20M | $202.65M | $370.77M | $394.83M | $402.55M | $484.29M |
| Retained Earnings | ($625.94M) | ($512.99M) | ($438.64M) | ($333.11M) | ($274.25M) | ($405.82M) | ($291.51M) | ($258.52M) | ($221.78M) | ($182.17M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($69.38M) | - | - | - | ($85.65M) | - | - | - | ($3.88M) | - |
| Investing Cash Flow | ($44.76M) | - | - | - | $164.30M | - | - | - | ($18.85M) | - |
| Financing Cash Flow | $15.62M | - | - | - | ($2.54M) | - | - | - | ($454.0K) | - |
| CapEx | $46.48M | - | - | - | $66.00M | - | - | - | $12.86M | - |
| Free Cash Flow | ($115.85M) | - | - | - | ($151.65M) | - | - | - | ($16.74M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -65.7% | - | -70.8% | -56.4% | 81.8% | - | -51.7% | -56.4% | -58.8% | - |
| EBITDA margin | -38.8% | - | -46.0% | -28.6% | 107.8% | - | -28.3% | -32.6% | -33.9% | - |
| Net margin | -79.7% | - | -84.2% | -65.3% | 114.1% | - | -60.0% | -64.0% | -68.6% | - |
| Free cash flow margin | -61.5% | - | - | - | -157.7% | - | - | - | -20.3% | - |
| FCF / Net income | 0.77 | - | - | - | -1.38 | - | - | - | 0.30 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 1.9% | - | 2.3% | 3.2% | 5.3% | - | 3.6% | 3.3% | 5.9% | - |
| Effective tax rate | - | - | - | - | -60.9% | - | - | - | - | - |
| Return on assets | -2.6% | - | -2.2% | -1.8% | 2.6% | - | -2.1% | -2.2% | -2.4% | - |
| Return on equity | 122.6% | - | -65.4% | -21.3% | 23.0% | - | -13.5% | -13.8% | -14.1% | - |
| Return on invested capital | -2.7% | - | -3.3% | -1.6% | 2.5% | - | -1.8% | -1.9% | -2.3% | - |
| Liquidity | ||||||||||
| Current ratio | 1.10 | 1.18 | 0.25 | 1.49 | 0.86 | 0.88 | 1.42 | 2.10 | 0.69 | 1.23 |
| Quick ratio | 1.10 | 1.18 | 0.25 | 1.49 | 0.86 | 0.88 | 1.42 | 2.10 | 0.69 | 1.23 |
| Cash ratio | 0.10 | 0.14 | 0.02 | 0.09 | 0.07 | 0.11 | 0.12 | 0.24 | 0.10 | 0.19 |
| Leverage | ||||||||||
| Debt / Equity | -30.93 | 173.92 | 12.23 | 7.99 | 5.59 | 7.60 | 4.14 | 3.94 | 3.15 | 2.77 |
| Debt / Assets | 0.67 | 0.65 | 0.41 | 0.68 | 0.64 | 0.65 | 0.63 | 0.63 | 0.54 | 0.56 |
| Debt / EBITDA | - | - | - | - | 25.70 | - | - | - | - | - |
| Interest coverage | -1.5x | - | -1.4x | -1.2x | 1.8x | - | -1.4x | -1.6x | -1.8x | - |
| Equity multiplier | -46.45 | 269.59 | 30.11 | 11.74 | 8.70 | 11.72 | 6.57 | 6.21 | 5.82 | 4.91 |
| Liabilities / Assets | 0.86 | 0.84 | 0.80 | 0.82 | 0.79 | 0.81 | 0.75 | 0.74 | 0.72 | 0.69 |
| Efficiency | ||||||||||
| Asset turnover | 0.03 | - | 0.03 | 0.03 | 0.02 | - | 0.03 | 0.03 | 0.04 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | 5.1x | - | - | - | - | - |
| P / B | - | - | 2.8x | 1.9x | 1.2x | - | 2.8x | 2.3x | 1.6x | - |
| P / S | 3.1x | - | 3.6x | 5.8x | 5.8x | - | 12.3x | 10.7x | 7.9x | - |
| EV / EBITDA | - | - | - | - | 30.8x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 95.9% | - | 68.7% | 44.1% | 16.5% | - | 3.2% | 3.7% | 7.9% | - |
| Revenue CAGR (3y) | 35.0% | - | 56.3% | 99.7% | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | -131.0% | -44.1% | - | - | 14.0% | -44.9% | 0.4% | - |
| Net income growth (YoY) | - | - | -136.8% | -46.9% | - | - | 10.9% | -84.4% | -39.4% | - |
| EPS growth (YoY) | - | - | -206.7% | -40.4% | - | - | 18.2% | -36.8% | -35.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 23.6% | - | - | - | -805.8% | - | - | - | 74.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | -89.5% | -51.2% | -4.9% | 18.3% | -58.2% | -30.5% | -32.0% | -28.1% | -12.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$639.24M totalLong Ridge$179.33M · 28.1%
Power And Gas$179.33M · 28.1%
Railroad$172.94M · 27.1%
Jefferson Terminal$85.66M · 13.4%
Rapauno$10.99M · 1.7%
Repauno$10.99M · 1.7%
Product / service
$484.90M totalRail Revenue$171.08M · 35.3%
Power Revenues$156.18M · 32.2%
Service Other$82.39M · 17.0%
Roadside Services Revenues$52.19M · 10.8%
Gas Revenues$21.19M · 4.4%
License And Service$1.82M · 0.4%
Product And Service Other$43.0K · 0.0%
Peer comparison
Same SIC group: Railroads, Line-Haul Operating
Comparing FTAI Infrastructure Inc. against the 3 most active filers in the same SIC group.
Dividends
$0.12/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| May 18, 2026 | $0.0300 |
| Mar 13, 2026 | $0.0300 |
| Nov 14, 2025 | $0.0300 |
| Aug 25, 2025 | $0.0300 |
| May 19, 2025 | $0.0300 |
| Mar 14, 2025 | $0.0300 |
| Nov 12, 2024 | $0.0300 |
| Aug 12, 2024 | $0.0300 |
| May 16, 2024 | $0.0300 |
| Mar 26, 2024 | $0.0300 |
| Nov 8, 2023 | $0.0300 |
| Aug 7, 2023 | $0.0300 |
| May 12, 2023 | $0.0300 |
| Mar 13, 2023 | $0.0300 |
| Nov 10, 2022 | $0.0300 |