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Side-by-side financial comparison of Andersons, Inc. (ANDE) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
Andersons, Inc. is the larger business by last-quarter revenue ($329.5M vs $188.4M, roughly 1.7× FTAI Infrastructure Inc.). Andersons, Inc. runs the higher net margin — 20.5% vs -79.7%, a 100.2% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (95.9% vs -2.4%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (49.0% CAGR vs -1.8%).
The Andersons, Inc. is an American agribusiness established in 1947, that began as Andersons Truck Terminal (ATT) in the 1940s for the grain industry, headquartered in Maumee, Ohio. It is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors.
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.
ANDE vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $329.5M | $188.4M |
| Net Profit | $67.4M | $-150.2M |
| Gross Margin | 70.3% | — |
| Operating Margin | 26.6% | — |
| Net Margin | 20.5% | -79.7% |
| Revenue YoY | -2.4% | 95.9% |
| Net Profit YoY | 49.6% | -387.6% |
| EPS (diluted) | — | $-1.32 |
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.
| Q1 26 | — | $188.4M | ||
| Q4 25 | $329.5M | $143.5M | ||
| Q3 25 | $295.8M | $140.6M | ||
| Q2 25 | $535.0M | $122.3M | ||
| Q1 25 | $370.8M | $96.2M | ||
| Q4 24 | $337.5M | $80.8M | ||
| Q3 24 | $231.9M | $83.3M | ||
| Q2 24 | $492.5M | $84.9M |
| Q1 26 | — | $-150.2M | ||
| Q4 25 | $67.4M | $-97.7M | ||
| Q3 25 | $20.1M | $-104.5M | ||
| Q2 25 | $7.9M | $-70.0M | ||
| Q1 25 | $284.0K | $120.2M | ||
| Q4 24 | $45.1M | $-124.7M | ||
| Q3 24 | $27.4M | $-43.0M | ||
| Q2 24 | $36.0M | $-48.1M |
| Q1 26 | — | — | ||
| Q4 25 | 70.3% | — | ||
| Q3 25 | 57.8% | — | ||
| Q2 25 | 29.6% | — | ||
| Q1 25 | 41.2% | — | ||
| Q4 24 | 63.1% | — | ||
| Q3 24 | 76.4% | — | ||
| Q2 24 | 35.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 26.6% | -45.7% | ||
| Q3 25 | 8.7% | -70.8% | ||
| Q2 25 | 4.6% | -56.4% | ||
| Q1 25 | 0.9% | 81.8% | ||
| Q4 24 | 19.9% | -152.7% | ||
| Q3 24 | 26.8% | -51.7% | ||
| Q2 24 | 11.6% | -56.4% |
| Q1 26 | — | -79.7% | ||
| Q4 25 | 20.5% | -68.1% | ||
| Q3 25 | 6.8% | -74.4% | ||
| Q2 25 | 1.5% | -57.2% | ||
| Q1 25 | 0.1% | 125.0% | ||
| Q4 24 | 13.4% | -154.4% | ||
| Q3 24 | 11.8% | -51.6% | ||
| Q2 24 | 7.3% | -56.7% |
| Q1 26 | — | $-1.32 | ||
| Q4 25 | — | $-1.04 | ||
| Q3 25 | $0.59 | $-1.38 | ||
| Q2 25 | $0.23 | $-0.73 | ||
| Q1 25 | $0.01 | $0.89 | ||
| Q4 24 | $1.31 | $-1.21 | ||
| Q3 24 | $0.80 | $-0.45 | ||
| Q2 24 | $1.05 | $-0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $98.3M | $37.9M |
| Total DebtLower is stronger | $560.0M | — |
| Stockholders' EquityBook value | $1.2B | $-122.5K |
| Total Assets | $3.7B | $5.7B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $37.9M | ||
| Q4 25 | $98.3M | $57.4M | ||
| Q3 25 | — | $34.7M | ||
| Q2 25 | — | $33.6M | ||
| Q1 25 | — | $26.3M | ||
| Q4 24 | $561.8M | $27.8M | ||
| Q3 24 | — | $20.3M | ||
| Q2 24 | — | $33.1M |
| Q1 26 | — | — | ||
| Q4 25 | $560.0M | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $608.2M | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | — | $-122.5K | ||
| Q4 25 | $1.2B | $21.3M | ||
| Q3 25 | $1.2B | $181.1M | ||
| Q2 25 | $1.4B | $375.5M | ||
| Q1 25 | $1.4B | $476.2M | ||
| Q4 24 | $1.4B | $202.7M | ||
| Q3 24 | $1.3B | $370.8M | ||
| Q2 24 | $1.3B | $394.8M |
| Q1 26 | — | $5.7B | ||
| Q4 25 | $3.7B | $5.7B | ||
| Q3 25 | $3.3B | $5.5B | ||
| Q2 25 | $3.4B | $4.4B | ||
| Q1 25 | $3.8B | $4.1B | ||
| Q4 24 | $4.1B | $2.4B | ||
| Q3 24 | $3.4B | $2.4B | ||
| Q2 24 | $3.3B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | 0.45× | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× |
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 | $-6.2M | $-69.4M |
| Free Cash FlowOCF − Capex | $-77.1M | — |
| FCF MarginFCF / Revenue | -23.4% | — |
| Capex IntensityCapex / Revenue | 21.5% | — |
| Cash ConversionOCF / Net Profit | -0.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-69.4M | ||
| Q4 25 | $-6.2M | $-2.8M | ||
| Q3 25 | $233.9M | $-24.4M | ||
| Q2 25 | $299.3M | $-5.2M | ||
| Q1 25 | $-350.0M | $-85.7M | ||
| Q4 24 | $268.8M | $-8.1M | ||
| Q3 24 | $-2.1M | $14.2M | ||
| Q2 24 | $304.4M | $-17.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-77.1M | $-68.6M | ||
| Q3 25 | $167.0M | $-90.7M | ||
| Q2 25 | $250.5M | $-87.5M | ||
| Q1 25 | $-396.6M | $-151.7M | ||
| Q4 24 | $212.9M | $-34.3M | ||
| Q3 24 | $-40.0M | $-11.7M | ||
| Q2 24 | $275.8M | $-32.1M |
| Q1 26 | — | — | ||
| Q4 25 | -23.4% | -47.8% | ||
| Q3 25 | 56.5% | -64.5% | ||
| Q2 25 | 46.8% | -71.6% | ||
| Q1 25 | -106.9% | -157.7% | ||
| Q4 24 | 63.1% | -42.4% | ||
| Q3 24 | -17.2% | -14.0% | ||
| Q2 24 | 56.0% | -37.9% |
| Q1 26 | — | — | ||
| Q4 25 | 21.5% | 45.9% | ||
| Q3 25 | 22.6% | 47.2% | ||
| Q2 25 | 9.1% | 67.3% | ||
| Q1 25 | 12.6% | 68.6% | ||
| Q4 24 | 16.6% | 32.5% | ||
| Q3 24 | 16.3% | 31.1% | ||
| Q2 24 | 5.8% | 17.2% |
| Q1 26 | — | — | ||
| Q4 25 | -0.09× | — | ||
| Q3 25 | 11.61× | — | ||
| Q2 25 | 38.10× | — | ||
| Q1 25 | -1232.46× | -0.71× | ||
| Q4 24 | 5.96× | — | ||
| Q3 24 | -0.08× | — | ||
| Q2 24 | 8.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
FIP
Segment breakdown not available.
