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FIP

FTAI Infrastructure Inc.

FIP

FTAI Infrastructure Inc. • NASDAQ
$4.28 ▲ 4.65% (+0.19)
Market Cap $490.54 M
52w High $8.94
52w Low $3.10
Dividend Yield 0.09%
P/E -1.79
Volume 906.19K
Outstanding Shares 114.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $140.556M ▲ $3.202M ▼ $-93.041M ▼ -66.195% ▼ $-1.38 ▼ $8.668M ▼
Q2-2025 $122.286M ▲ $3.862M ▼ $-58.859M ▼ -48.132% ▼ $-0.69 ▼ $24.195M ▼
Q1-2025 $96.161M ▲ $5.113M ▼ $131.565M ▲ 136.817% ▲ $0.95 ▲ $146.774M ▲
Q4-2024 $80.764M ▼ $85.184M ▲ $-114.305M ▼ -141.53% ▼ $-1.24 ▼ $-70.792M ▼
Q3-2024 $83.311M $2.989M $-32.993M -39.602% $-0.46 $7.957M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $34.722M ▼ $5.452B ▲ $5.279B ▲ $333.701M ▼
Q2-2025 $448.263M ▲ $4.407B ▲ $3.631B ▲ $925.763M ▼
Q1-2025 $26.325M ▼ $4.142B ▲ $3.275B ▲ $1.006B ▲
Q4-2024 $27.785M ▲ $2.374B ▼ $1.918B ▲ $583.869M ▼
Q3-2024 $20.295M $2.437B $1.817B $737.684M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-94.098M ▼ $-24.383M ▼ $-1.175B ▼ $1.105B ▲ $-94.347M ▼ $124.5M ▲
Q2-2025 $-69.959M ▼ $-5.221M ▲ $-85.94M ▼ $316.017M ▲ $224.856M ▲ $-87.575M ▲
Q1-2025 $109.724M ▲ $-85.651M ▼ $164.299M ▲ $-2.537M ▼ $76.111M ▲ $-152.18M ▼
Q4-2024 $-124.671M ▼ $-8.055M ▼ $-28.499M ▲ $39.217M ▲ $2.663M ▲ $-35.93M ▼
Q3-2024 $-32.993M $14.247M $-36.986M $-19.093M $-41.832M $-12.078M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
License and Service
License and Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Service Other
Service Other
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement FTAI Infrastructure is growing its revenue steadily from a small base, and its core operations are clearly improving. The business has moved from losing money at the gross profit level to now generating a solid spread between sales and direct costs. However, once interest, depreciation, and other overheads are included, the company is still posting meaningful net losses, and those losses have not yet started to shrink. Overall, this looks like a company still in the ramp‑up and scale phase, not yet in a stable, profit‑generating phase at the bottom line.

Balance Sheet

Balance Sheet The balance sheet shows a large set of infrastructure assets funded increasingly by debt rather than by equity. Borrowing has grown significantly over the past few years, while the equity cushion has been eroded by continued losses. Cash on hand is relatively modest compared with the size of the asset base and the debt load, which means the company leans heavily on access to lenders and capital markets. Financially, this is a highly leveraged, asset‑intensive model that can work well if cash flows mature as planned, but it leaves less room for error if performance disappoints or financing conditions tighten.

Cash Flow

Cash Flow Cash generation is not yet where a mature infrastructure investor might want it to be. Operating cash flow has hovered around breakeven, occasionally positive but not consistently strong. At the same time, the company continues to spend heavily on capital projects like terminals, power assets, and rail infrastructure, which keeps free cash flow deeply negative. This pattern is typical of a build‑out phase, but it also means the company remains dependent on outside funding, asset sales, or new partnerships until its assets are fully ramped and self‑funding.

Competitive Edge

Competitive Edge Competitively, FTAI Infrastructure sits on a portfolio of hard‑to‑replicate assets in attractive locations: deep‑water port access, specialized storage, an efficient power plant, and an expanding rail network tied to large industrial customers. High barriers to entry, long‑term contracts, and network effects in rail support a meaningful moat, especially as the rail system grows and the terminals become key logistics hubs. External management by an experienced infrastructure investor adds another layer of expertise. On the other hand, the business is heavily exposed to energy, industrial, and petrochemical flows, so volumes can be influenced by commodity cycles and industrial activity, and integration risk from rail and terminal expansions remains an important watchpoint.

Innovation and R&D

Innovation and R&D Innovation here is less about traditional laboratory R&D and more about applying advanced technologies and clever engineering to real‑world assets. The hydrogen‑capable Long Ridge power plant, underground caverns for safer and efficient fuel storage, and multi‑modal terminals that can handle difficult products like heavy crude all differentiate FIP’s portfolio. The company is also placing early bets on the energy transition with projects in waste‑to‑fuel conversion, battery and catalyst recycling, and carbon capture. These initiatives could become valuable growth drivers if the technologies and markets scale as hoped, but they also bring technological, regulatory, and execution uncertainty that investors should view as both an opportunity and a risk.

Summary

Overall, FTAI Infrastructure looks like a classic infrastructure platform in the middle of its build‑out story. The company now owns a set of strategic, difficult‑to‑duplicate assets with logical advantages and long‑term demand drivers, including cleaner power and more efficient logistics. Financially, though, it is still in an investment‑heavy, loss‑making, and cash‑consuming phase, supported by a sizeable debt load and a shrinking equity base. The long‑term picture hinges on how successfully management can ramp utilization, lock in durable contracts, integrate new rail and terminal assets, and gradually shift from relying on external capital toward generating stable, recurring cash flows from its portfolio.

NEWS

October 30, 2025 · 4:15 PM UTC

FTAI Infrastructure Inc. Reports Third Quarter 2025 Results, Declares Dividend of $0.03 per Share of Common Stock

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October 20, 2025 · 6:30 AM UTC

Repauno Port & Rail Terminal Receives Approval for Phase 3 Development

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October 2, 2025 · 4:15 PM UTC

FTAI Infrastructure Inc. Announces Timing of Third Quarter 2025 Earnings and Conference Call

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