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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
Astera Labs, Inc. is the larger business by last-quarter revenue ($270.6M vs $143.5M, roughly 1.9× FTAI Infrastructure Inc.). Astera Labs, Inc. runs the higher net margin — 16.6% vs -68.1%, a 84.7% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs 77.7%). Astera Labs, Inc. produced more free cash flow last quarter ($76.6M vs $-68.6M). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs 31.9%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
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.
ALAB vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $143.5M |
| Net Profit | $45.0M | $-97.7M |
| Gross Margin | 75.6% | — |
| Operating Margin | 24.7% | -45.7% |
| Net Margin | 16.6% | -68.1% |
| Revenue YoY | 91.8% | 77.7% |
| Net Profit YoY | 82.0% | 21.6% |
| EPS (diluted) | $0.25 | $-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 | $270.6M | $143.5M | ||
| Q3 25 | $230.6M | $140.6M | ||
| Q2 25 | $191.9M | $122.3M | ||
| Q1 25 | $159.4M | $96.2M | ||
| Q4 24 | $141.1M | $80.8M | ||
| Q3 24 | $113.1M | $83.3M | ||
| Q2 24 | $76.8M | $84.9M | ||
| Q1 24 | $65.3M | $82.5M |
| Q4 25 | $45.0M | $-97.7M | ||
| Q3 25 | $91.1M | $-104.5M | ||
| Q2 25 | $51.2M | $-70.0M | ||
| Q1 25 | $31.8M | $120.2M | ||
| Q4 24 | $24.7M | $-124.7M | ||
| Q3 24 | $-7.6M | $-43.0M | ||
| Q2 24 | $-7.5M | $-48.1M | ||
| Q1 24 | $-93.0M | $-50.3M |
| Q4 25 | 75.6% | — | ||
| Q3 25 | 76.2% | — | ||
| Q2 25 | 75.8% | — | ||
| Q1 25 | 74.9% | — | ||
| Q4 24 | 74.0% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.9% | — | ||
| Q1 24 | 77.4% | — |
| Q4 25 | 24.7% | -45.7% | ||
| Q3 25 | 24.0% | -70.8% | ||
| Q2 25 | 20.7% | -56.4% | ||
| Q1 25 | 7.1% | 81.8% | ||
| Q4 24 | 0.1% | -152.7% | ||
| Q3 24 | -7.9% | -51.7% | ||
| Q2 24 | -31.7% | -56.4% | ||
| Q1 24 | -127.1% | -58.8% |
| Q4 25 | 16.6% | -68.1% | ||
| Q3 25 | 39.5% | -74.4% | ||
| Q2 25 | 26.7% | -57.2% | ||
| Q1 25 | 20.0% | 125.0% | ||
| Q4 24 | 17.5% | -154.4% | ||
| Q3 24 | -6.7% | -51.6% | ||
| Q2 24 | -9.8% | -56.7% | ||
| Q1 24 | -142.5% | -60.9% |
| Q4 25 | $0.25 | $-1.04 | ||
| Q3 25 | $0.50 | $-1.38 | ||
| Q2 25 | $0.29 | $-0.73 | ||
| Q1 25 | $0.18 | $0.89 | ||
| Q4 24 | $1.23 | $-1.21 | ||
| Q3 24 | $-0.05 | $-0.45 | ||
| Q2 24 | $-0.05 | $-0.52 | ||
| Q1 24 | $-1.77 | $-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 | $167.6M | $57.4M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $1.4B | $21.3M |
| Total Assets | $1.5B | $5.7B |
| Debt / EquityLower = less leverage | — | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.6M | $57.4M | ||
| Q3 25 | $140.4M | $34.7M | ||
| Q2 25 | $162.3M | $33.6M | ||
| Q1 25 | $86.4M | $26.3M | ||
| Q4 24 | $79.6M | $27.8M | ||
| Q3 24 | $126.1M | $20.3M | ||
| Q2 24 | $421.1M | $33.1M | ||
| Q1 24 | $696.1M | $23.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $1.4B | $21.3M | ||
| Q3 25 | $1.3B | $181.1M | ||
| Q2 25 | $1.1B | $375.5M | ||
| Q1 25 | $1.0B | $476.2M | ||
| Q4 24 | $964.8M | $202.7M | ||
| Q3 24 | $889.6M | $370.8M | ||
| Q2 24 | $845.3M | $394.8M | ||
| Q1 24 | $808.8M | $402.5M |
| Q4 25 | $1.5B | $5.7B | ||
| Q3 25 | $1.4B | $5.5B | ||
| Q2 25 | $1.3B | $4.4B | ||
| Q1 25 | $1.1B | $4.1B | ||
| Q4 24 | $1.1B | $2.4B | ||
| Q3 24 | $983.1M | $2.4B | ||
| Q2 24 | $915.5M | $2.5B | ||
| Q1 24 | $864.9M | $2.3B |
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 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 | $95.3M | $-2.8M |
| Free Cash FlowOCF − Capex | $76.6M | $-68.6M |
| FCF MarginFCF / Revenue | 28.3% | -47.8% |
| Capex IntensityCapex / Revenue | 6.9% | 45.9% |
| Cash ConversionOCF / Net Profit | 2.12× | — |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.3M | $-2.8M | ||
| Q3 25 | $78.2M | $-24.4M | ||
| Q2 25 | $135.4M | $-5.2M | ||
| Q1 25 | $10.5M | $-85.7M | ||
| Q4 24 | $39.7M | $-8.1M | ||
| Q3 24 | $63.5M | $14.2M | ||
| Q2 24 | $29.8M | $-17.6M | ||
| Q1 24 | $3.7M | $-3.9M |
| Q4 25 | $76.6M | $-68.6M | ||
| Q3 25 | $65.9M | $-90.7M | ||
| Q2 25 | $133.3M | $-87.5M | ||
| Q1 25 | $6.0M | $-151.7M | ||
| Q4 24 | $24.3M | $-34.3M | ||
| Q3 24 | $46.8M | $-11.7M | ||
| Q2 24 | $28.5M | $-32.1M | ||
| Q1 24 | $228.0K | $-16.7M |
| Q4 25 | 28.3% | -47.8% | ||
| Q3 25 | 28.6% | -64.5% | ||
| Q2 25 | 69.5% | -71.6% | ||
| Q1 25 | 3.7% | -157.7% | ||
| Q4 24 | 17.2% | -42.4% | ||
| Q3 24 | 41.4% | -14.0% | ||
| Q2 24 | 37.1% | -37.9% | ||
| Q1 24 | 0.3% | -20.3% |
| Q4 25 | 6.9% | 45.9% | ||
| Q3 25 | 5.3% | 47.2% | ||
| Q2 25 | 1.1% | 67.3% | ||
| Q1 25 | 2.8% | 68.6% | ||
| Q4 24 | 10.9% | 32.5% | ||
| Q3 24 | 14.8% | 31.1% | ||
| Q2 24 | 1.7% | 17.2% | ||
| Q1 24 | 5.2% | 15.6% |
| Q4 25 | 2.12× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 2.64× | — | ||
| Q1 25 | 0.33× | -0.71× | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
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% |
