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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
FTAI Infrastructure Inc. is the larger business by last-quarter revenue ($143.5M vs $139.2M, roughly 1.0× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs -68.1%, a 103.6% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 30.4%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
FTAI Infrastructure Inc. owns, operates and invests in high-quality critical infrastructure assets across core sectors including transportation logistics, midstream energy, and power generation. It primarily serves North American markets, focusing on assets with stable long-term cash flows, contracted revenue streams, and strong market positions to deliver sustainable returns for stakeholders.
ADMA vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $143.5M |
| Net Profit | $49.4M | $-97.7M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | -45.7% |
| Net Margin | 35.5% | -68.1% |
| Revenue YoY | 18.4% | 77.7% |
| Net Profit YoY | -55.9% | 21.6% |
| EPS (diluted) | $0.20 | $-1.04 |
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 | $139.2M | $143.5M | ||
| Q3 25 | $134.2M | $140.6M | ||
| Q2 25 | $122.0M | $122.3M | ||
| Q1 25 | $114.8M | $96.2M | ||
| Q4 24 | $117.5M | $80.8M | ||
| Q3 24 | $119.8M | $83.3M | ||
| Q2 24 | $107.2M | $84.9M | ||
| Q1 24 | $81.9M | $82.5M |
| Q4 25 | $49.4M | $-97.7M | ||
| Q3 25 | $36.4M | $-104.5M | ||
| Q2 25 | $34.2M | $-70.0M | ||
| Q1 25 | $26.9M | $120.2M | ||
| Q4 24 | $111.9M | $-124.7M | ||
| Q3 24 | $35.9M | $-43.0M | ||
| Q2 24 | $32.1M | $-48.1M | ||
| Q1 24 | $17.8M | $-50.3M |
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — | ||
| Q1 24 | 47.8% | — |
| Q4 25 | 45.1% | -45.7% | ||
| Q3 25 | 38.0% | -70.8% | ||
| Q2 25 | 35.1% | -56.4% | ||
| Q1 25 | 30.4% | 81.8% | ||
| Q4 24 | 32.6% | -152.7% | ||
| Q3 24 | 33.1% | -51.7% | ||
| Q2 24 | 36.6% | -56.4% | ||
| Q1 24 | 26.7% | -58.8% |
| Q4 25 | 35.5% | -68.1% | ||
| Q3 25 | 27.1% | -74.4% | ||
| Q2 25 | 28.1% | -57.2% | ||
| Q1 25 | 23.4% | 125.0% | ||
| Q4 24 | 95.2% | -154.4% | ||
| Q3 24 | 30.0% | -51.6% | ||
| Q2 24 | 29.9% | -56.7% | ||
| Q1 24 | 21.7% | -60.9% |
| Q4 25 | $0.20 | $-1.04 | ||
| Q3 25 | $0.15 | $-1.38 | ||
| Q2 25 | $0.14 | $-0.73 | ||
| Q1 25 | $0.11 | $0.89 | ||
| Q4 24 | $0.45 | $-1.21 | ||
| Q3 24 | $0.15 | $-0.45 | ||
| Q2 24 | $0.13 | $-0.52 | ||
| Q1 24 | $0.08 | $-0.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $57.4M |
| Total DebtLower is stronger | $72.1M | $3.8B |
| Stockholders' EquityBook value | $477.3M | $21.3M |
| Total Assets | $624.2M | $5.7B |
| Debt / EquityLower = less leverage | 0.15× | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $57.4M | ||
| Q3 25 | $61.4M | $34.7M | ||
| Q2 25 | $90.3M | $33.6M | ||
| Q1 25 | $71.6M | $26.3M | ||
| Q4 24 | $103.1M | $27.8M | ||
| Q3 24 | $86.7M | $20.3M | ||
| Q2 24 | $88.2M | $33.1M | ||
| Q1 24 | $45.3M | $23.0M |
| Q4 25 | $72.1M | $3.8B | ||
| Q3 25 | $72.4M | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $72.3M | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $477.3M | $21.3M | ||
| Q3 25 | $431.2M | $181.1M | ||
| Q2 25 | $398.3M | $375.5M | ||
| Q1 25 | $373.4M | $476.2M | ||
| Q4 24 | $349.0M | $202.7M | ||
| Q3 24 | $231.9M | $370.8M | ||
| Q2 24 | $188.3M | $394.8M | ||
| Q1 24 | $153.7M | $402.5M |
| Q4 25 | $624.2M | $5.7B | ||
| Q3 25 | $568.7M | $5.5B | ||
| Q2 25 | $558.4M | $4.4B | ||
| Q1 25 | $510.6M | $4.1B | ||
| Q4 24 | $488.7M | $2.4B | ||
| Q3 24 | $390.6M | $2.4B | ||
| Q2 24 | $376.4M | $2.5B | ||
| Q1 24 | $350.9M | $2.3B |
| Q4 25 | 0.15× | 176.99× | ||
| Q3 25 | 0.17× | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | 0.21× | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
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 | $35.6M | $-2.8M |
| Free Cash FlowOCF − Capex | $34.6M | $-68.6M |
| FCF MarginFCF / Revenue | 24.8% | -47.8% |
| Capex IntensityCapex / Revenue | 0.8% | 45.9% |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $-2.8M | ||
| Q3 25 | $13.3M | $-24.4M | ||
| Q2 25 | $21.1M | $-5.2M | ||
| Q1 25 | $-19.7M | $-85.7M | ||
| Q4 24 | $50.2M | $-8.1M | ||
| Q3 24 | $25.0M | $14.2M | ||
| Q2 24 | $45.6M | $-17.6M | ||
| Q1 24 | $-2.2M | $-3.9M |
| Q4 25 | $34.6M | $-68.6M | ||
| Q3 25 | $-1.1M | $-90.7M | ||
| Q2 25 | $18.7M | $-87.5M | ||
| Q1 25 | $-24.4M | $-151.7M | ||
| Q4 24 | $47.5M | $-34.3M | ||
| Q3 24 | $24.0M | $-11.7M | ||
| Q2 24 | $43.6M | $-32.1M | ||
| Q1 24 | $-4.6M | $-16.7M |
| Q4 25 | 24.8% | -47.8% | ||
| Q3 25 | -0.8% | -64.5% | ||
| Q2 25 | 15.3% | -71.6% | ||
| Q1 25 | -21.2% | -157.7% | ||
| Q4 24 | 40.4% | -42.4% | ||
| Q3 24 | 20.0% | -14.0% | ||
| Q2 24 | 40.7% | -37.9% | ||
| Q1 24 | -5.6% | -20.3% |
| Q4 25 | 0.8% | 45.9% | ||
| Q3 25 | 10.7% | 47.2% | ||
| Q2 25 | 2.0% | 67.3% | ||
| Q1 25 | 4.1% | 68.6% | ||
| Q4 24 | 2.3% | 32.5% | ||
| Q3 24 | 0.9% | 31.1% | ||
| Q2 24 | 1.9% | 17.2% | ||
| Q1 24 | 2.9% | 15.6% |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | -0.71× | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | — | ||
| Q1 24 | -0.12× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
