vs
Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
AMERICAN STATES WATER CO is the larger business by last-quarter revenue ($164.3M vs $143.5M, roughly 1.1× FTAI Infrastructure Inc.). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs -68.1%, a 85.6% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 14.8%). AMERICAN STATES WATER CO produced more free cash flow last quarter ($-36.0M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 10.2%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
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.
AWR vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $143.5M |
| Net Profit | $28.7M | $-97.7M |
| Gross Margin | 88.9% | — |
| Operating Margin | 27.4% | -45.7% |
| Net Margin | 17.5% | -68.1% |
| Revenue YoY | 14.8% | 77.7% |
| Net Profit YoY | 1.1% | 21.6% |
| EPS (diluted) | $0.74 | $-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 | $164.3M | $143.5M | ||
| Q3 25 | $182.7M | $140.6M | ||
| Q2 25 | $163.1M | $122.3M | ||
| Q1 25 | $148.0M | $96.2M | ||
| Q4 24 | $143.1M | $80.8M | ||
| Q3 24 | $161.8M | $83.3M | ||
| Q2 24 | $155.3M | $84.9M | ||
| Q1 24 | $135.3M | $82.5M |
| Q4 25 | $28.7M | $-97.7M | ||
| Q3 25 | $41.2M | $-104.5M | ||
| Q2 25 | $33.7M | $-70.0M | ||
| Q1 25 | $26.8M | $120.2M | ||
| Q4 24 | $28.4M | $-124.7M | ||
| Q3 24 | $35.8M | $-43.0M | ||
| Q2 24 | $31.9M | $-48.1M | ||
| Q1 24 | $23.1M | $-50.3M |
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | — | ||
| Q1 25 | 91.3% | — | ||
| Q4 24 | 92.4% | — | ||
| Q3 24 | 92.7% | — | ||
| Q2 24 | 89.6% | — | ||
| Q1 24 | 88.4% | — |
| Q4 25 | 27.4% | -45.7% | ||
| Q3 25 | 33.8% | -70.8% | ||
| Q2 25 | 31.3% | -56.4% | ||
| Q1 25 | 30.8% | 81.8% | ||
| Q4 24 | 27.0% | -152.7% | ||
| Q3 24 | 34.0% | -51.7% | ||
| Q2 24 | 33.3% | -56.4% | ||
| Q1 24 | 28.8% | -58.8% |
| Q4 25 | 17.5% | -68.1% | ||
| Q3 25 | 22.5% | -74.4% | ||
| Q2 25 | 20.7% | -57.2% | ||
| Q1 25 | 18.1% | 125.0% | ||
| Q4 24 | 19.9% | -154.4% | ||
| Q3 24 | 22.1% | -51.6% | ||
| Q2 24 | 20.5% | -56.7% | ||
| Q1 24 | 17.1% | -60.9% |
| Q4 25 | $0.74 | $-1.04 | ||
| Q3 25 | $1.06 | $-1.38 | ||
| Q2 25 | $0.87 | $-0.73 | ||
| Q1 25 | $0.70 | $0.89 | ||
| Q4 24 | $0.75 | $-1.21 | ||
| Q3 24 | $0.95 | $-0.45 | ||
| Q2 24 | $0.85 | $-0.52 | ||
| Q1 24 | $0.62 | $-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 | $18.8M | $57.4M |
| Total DebtLower is stronger | $782.7M | $3.8B |
| Stockholders' EquityBook value | $1.0B | $21.3M |
| Total Assets | $2.7B | $5.7B |
| Debt / EquityLower = less leverage | 0.75× | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $57.4M | ||
| Q3 25 | $26.1M | $34.7M | ||
| Q2 25 | $20.2M | $33.6M | ||
| Q1 25 | $21.2M | $26.3M | ||
| Q4 24 | $26.7M | $27.8M | ||
| Q3 24 | $16.5M | $20.3M | ||
| Q2 24 | $3.6M | $33.1M | ||
| Q1 24 | $17.0M | $23.0M |
| Q4 25 | $782.7M | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $640.4M | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $1.0B | $21.3M | ||
| Q3 25 | $1.0B | $181.1M | ||
| Q2 25 | $972.5M | $375.5M | ||
| Q1 25 | $956.4M | $476.2M | ||
| Q4 24 | $920.1M | $202.7M | ||
| Q3 24 | $879.5M | $370.8M | ||
| Q2 24 | $833.5M | $394.8M | ||
| Q1 24 | $800.5M | $402.5M |
| Q4 25 | $2.7B | $5.7B | ||
| Q3 25 | $2.7B | $5.5B | ||
| Q2 25 | $2.6B | $4.4B | ||
| Q1 25 | $2.5B | $4.1B | ||
| Q4 24 | $2.5B | $2.4B | ||
| Q3 24 | $2.4B | $2.4B | ||
| Q2 24 | $2.3B | $2.5B | ||
| Q1 24 | $2.3B | $2.3B |
| Q4 25 | 0.75× | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | 0.70× | 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 | $27.7M | $-2.8M |
| Free Cash FlowOCF − Capex | $-36.0M | $-68.6M |
| FCF MarginFCF / Revenue | -21.9% | -47.8% |
| Capex IntensityCapex / Revenue | 38.8% | 45.9% |
| Cash ConversionOCF / Net Profit | 0.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $-2.8M | ||
| Q3 25 | $92.4M | $-24.4M | ||
| Q2 25 | $64.6M | $-5.2M | ||
| Q1 25 | $45.1M | $-85.7M | ||
| Q4 24 | $64.5M | $-8.1M | ||
| Q3 24 | $63.7M | $14.2M | ||
| Q2 24 | $24.7M | $-17.6M | ||
| Q1 24 | $45.8M | $-3.9M |
| Q4 25 | $-36.0M | $-68.6M | ||
| Q3 25 | $37.7M | $-90.7M | ||
| Q2 25 | $13.7M | $-87.5M | ||
| Q1 25 | $-22.5M | $-151.7M | ||
| Q4 24 | $6.0M | $-34.3M | ||
| Q3 24 | $-478.0K | $-11.7M | ||
| Q2 24 | $-37.0M | $-32.1M | ||
| Q1 24 | $-1.7M | $-16.7M |
| Q4 25 | -21.9% | -47.8% | ||
| Q3 25 | 20.7% | -64.5% | ||
| Q2 25 | 8.4% | -71.6% | ||
| Q1 25 | -15.2% | -157.7% | ||
| Q4 24 | 4.2% | -42.4% | ||
| Q3 24 | -0.3% | -14.0% | ||
| Q2 24 | -23.8% | -37.9% | ||
| Q1 24 | -1.3% | -20.3% |
| Q4 25 | 38.8% | 45.9% | ||
| Q3 25 | 29.9% | 47.2% | ||
| Q2 25 | 31.2% | 67.3% | ||
| Q1 25 | 45.6% | 68.6% | ||
| Q4 24 | 40.9% | 32.5% | ||
| Q3 24 | 39.7% | 31.1% | ||
| Q2 24 | 39.8% | 17.2% | ||
| Q1 24 | 35.2% | 15.6% |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | -0.71× | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 1.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
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% |
