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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) 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 $86.6M, roughly 1.7× AlTi Global, Inc.). AlTi Global, Inc. runs the higher net margin — -15.1% vs -68.1%, a 53.0% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs 77.7%). AlTi Global, Inc. produced more free cash flow last quarter ($-52.2M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 30.6%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
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.
ALTI vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $143.5M |
| Net Profit | $-13.1M | $-97.7M |
| Gross Margin | — | — |
| Operating Margin | -2.1% | -45.7% |
| Net Margin | -15.1% | -68.1% |
| Revenue YoY | 87.0% | 77.7% |
| Net Profit YoY | 75.6% | 21.6% |
| EPS (diluted) | — | $-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 | $86.6M | $143.5M | ||
| Q3 25 | $57.2M | $140.6M | ||
| Q2 25 | $53.1M | $122.3M | ||
| Q1 25 | $58.0M | $96.2M | ||
| Q4 24 | $46.3M | $80.8M | ||
| Q3 24 | $51.8M | $83.3M | ||
| Q2 24 | $49.5M | $84.9M | ||
| Q1 24 | $50.8M | $82.5M |
| Q4 25 | $-13.1M | $-97.7M | ||
| Q3 25 | $-84.1M | $-104.5M | ||
| Q2 25 | $-24.4M | $-70.0M | ||
| Q1 25 | $1.9M | $120.2M | ||
| Q4 24 | $-53.8M | $-124.7M | ||
| Q3 24 | $-72.5M | $-43.0M | ||
| Q2 24 | $-6.4M | $-48.1M | ||
| Q1 24 | $29.7M | $-50.3M |
| Q4 25 | -2.1% | -45.7% | ||
| Q3 25 | -49.8% | -70.8% | ||
| Q2 25 | -56.7% | -56.4% | ||
| Q1 25 | -23.3% | 81.8% | ||
| Q4 24 | -42.7% | -152.7% | ||
| Q3 24 | -18.4% | -51.7% | ||
| Q2 24 | -30.2% | -56.4% | ||
| Q1 24 | -28.9% | -58.8% |
| Q4 25 | -15.1% | -68.1% | ||
| Q3 25 | -147.0% | -74.4% | ||
| Q2 25 | -45.9% | -57.2% | ||
| Q1 25 | 3.3% | 125.0% | ||
| Q4 24 | -116.1% | -154.4% | ||
| Q3 24 | -140.0% | -51.6% | ||
| Q2 24 | -12.9% | -56.7% | ||
| Q1 24 | 58.4% | -60.9% |
| Q4 25 | — | $-1.04 | ||
| Q3 25 | — | $-1.38 | ||
| Q2 25 | $-0.33 | $-0.73 | ||
| Q1 25 | $-0.04 | $0.89 | ||
| Q4 24 | $-0.71 | $-1.21 | ||
| Q3 24 | $-0.88 | $-0.45 | ||
| Q2 24 | $-0.18 | $-0.52 | ||
| Q1 24 | $0.18 | $-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 | $41.2M | $57.4M |
| Total DebtLower is stronger | $883.0K | $3.8B |
| Stockholders' EquityBook value | $600.1M | $21.3M |
| Total Assets | $1.2B | $5.7B |
| Debt / EquityLower = less leverage | 0.00× | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | $57.4M | ||
| Q3 25 | $35.8M | $34.7M | ||
| Q2 25 | $42.4M | $33.6M | ||
| Q1 25 | $52.8M | $26.3M | ||
| Q4 24 | $64.4M | $27.8M | ||
| Q3 24 | $220.6M | $20.3M | ||
| Q2 24 | $60.0M | $33.1M | ||
| Q1 24 | $134.2M | $23.0M |
| Q4 25 | $883.0K | $3.8B | ||
| Q3 25 | $586.0K | $3.7B | ||
| Q2 25 | $673.0K | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $0 | $1.6B | ||
| Q3 24 | $128.4M | $1.5B | ||
| Q2 24 | $164.0M | $1.6B | ||
| Q1 24 | $183.7M | $1.3B |
| Q4 25 | $600.1M | $21.3M | ||
| Q3 25 | $607.2M | $181.1M | ||
| Q2 25 | $685.4M | $375.5M | ||
| Q1 25 | $665.2M | $476.2M | ||
| Q4 24 | $658.4M | $202.7M | ||
| Q3 24 | $707.0M | $370.8M | ||
| Q2 24 | $540.2M | $394.8M | ||
| Q1 24 | $510.9M | $402.5M |
| Q4 25 | $1.2B | $5.7B | ||
| Q3 25 | $1.2B | $5.5B | ||
| Q2 25 | $1.2B | $4.4B | ||
| Q1 25 | $1.2B | $4.1B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $1.3B | $2.5B | ||
| Q1 24 | $1.3B | $2.3B |
| Q4 25 | 0.00× | 176.99× | ||
| Q3 25 | 0.00× | 20.59× | ||
| Q2 25 | 0.00× | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | 0.00× | 7.84× | ||
| Q3 24 | 0.18× | 4.14× | ||
| Q2 24 | 0.30× | 3.94× | ||
| Q1 24 | 0.36× | 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 | $-51.4M | $-2.8M |
| Free Cash FlowOCF − Capex | $-52.2M | $-68.6M |
| FCF MarginFCF / Revenue | -60.3% | -47.8% |
| Capex IntensityCapex / Revenue | 0.9% | 45.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $-2.8M | ||
| Q3 25 | $-53.5M | $-24.4M | ||
| Q2 25 | $-19.9M | $-5.2M | ||
| Q1 25 | $-30.2M | $-85.7M | ||
| Q4 24 | $-50.7M | $-8.1M | ||
| Q3 24 | $-4.9M | $14.2M | ||
| Q2 24 | $-30.2M | $-17.6M | ||
| Q1 24 | $-15.5M | $-3.9M |
| Q4 25 | $-52.2M | $-68.6M | ||
| Q3 25 | — | $-90.7M | ||
| Q2 25 | $-20.0M | $-87.5M | ||
| Q1 25 | $-31.0M | $-151.7M | ||
| Q4 24 | $-58.2M | $-34.3M | ||
| Q3 24 | $-9.4M | $-11.7M | ||
| Q2 24 | $-31.2M | $-32.1M | ||
| Q1 24 | $-15.7M | $-16.7M |
| Q4 25 | -60.3% | -47.8% | ||
| Q3 25 | — | -64.5% | ||
| Q2 25 | -37.6% | -71.6% | ||
| Q1 25 | -53.4% | -157.7% | ||
| Q4 24 | -125.7% | -42.4% | ||
| Q3 24 | -18.2% | -14.0% | ||
| Q2 24 | -63.2% | -37.9% | ||
| Q1 24 | -30.9% | -20.3% |
| Q4 25 | 0.9% | 45.9% | ||
| Q3 25 | 0.0% | 47.2% | ||
| Q2 25 | 0.0% | 67.3% | ||
| Q1 25 | 1.3% | 68.6% | ||
| Q4 24 | 16.3% | 32.5% | ||
| Q3 24 | 8.7% | 31.1% | ||
| Q2 24 | 2.2% | 17.2% | ||
| Q1 24 | 0.4% | 15.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -15.80× | -0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
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% |
