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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) 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 $75.1M, roughly 1.9× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -68.1%, a 76.7% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 10.6%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
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.
BFS vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $143.5M |
| Net Profit | $6.5M | $-97.7M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | -45.7% |
| Net Margin | 8.7% | -68.1% |
| Revenue YoY | 10.6% | 77.7% |
| Net Profit YoY | -19.6% | 21.6% |
| EPS (diluted) | $0.15 | $-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 | $75.1M | $143.5M | ||
| Q3 25 | $72.0M | $140.6M | ||
| Q2 25 | $70.8M | $122.3M | ||
| Q1 25 | $71.9M | $96.2M | ||
| Q4 24 | $67.9M | $80.8M | ||
| Q3 24 | $67.3M | $83.3M | ||
| Q2 24 | $66.9M | $84.9M | ||
| Q1 24 | $66.7M | $82.5M |
| Q4 25 | $6.5M | $-97.7M | ||
| Q3 25 | $10.5M | $-104.5M | ||
| Q2 25 | $10.7M | $-70.0M | ||
| Q1 25 | $9.8M | $120.2M | ||
| Q4 24 | $8.1M | $-124.7M | ||
| Q3 24 | $14.5M | $-43.0M | ||
| Q2 24 | $14.4M | $-48.1M | ||
| Q1 24 | $13.6M | $-50.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 73.6% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 72.8% | — |
| Q4 25 | 65.4% | -45.7% | ||
| Q3 25 | 69.1% | -70.8% | ||
| Q2 25 | 68.7% | -56.4% | ||
| Q1 25 | 66.5% | 81.8% | ||
| Q4 24 | 82.9% | -152.7% | ||
| Q3 24 | 72.8% | -51.7% | ||
| Q2 24 | 75.0% | -56.4% | ||
| Q1 24 | 72.4% | -58.8% |
| Q4 25 | 8.7% | -68.1% | ||
| Q3 25 | 14.6% | -74.4% | ||
| Q2 25 | 15.1% | -57.2% | ||
| Q1 25 | 13.6% | 125.0% | ||
| Q4 24 | 11.9% | -154.4% | ||
| Q3 24 | 21.5% | -51.6% | ||
| Q2 24 | 21.6% | -56.7% | ||
| Q1 24 | 20.4% | -60.9% |
| Q4 25 | $0.15 | $-1.04 | ||
| Q3 25 | $0.32 | $-1.38 | ||
| Q2 25 | $0.33 | $-0.73 | ||
| Q1 25 | $0.29 | $0.89 | ||
| Q4 24 | $0.22 | $-1.21 | ||
| Q3 24 | $0.48 | $-0.45 | ||
| Q2 24 | $0.48 | $-0.52 | ||
| Q1 24 | $0.45 | $-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 | $8.7M | $57.4M |
| Total DebtLower is stronger | $468.4M | $3.8B |
| Stockholders' EquityBook value | $307.8M | $21.3M |
| Total Assets | $2.2B | $5.7B |
| Debt / EquityLower = less leverage | 1.52× | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $57.4M | ||
| Q3 25 | $11.8M | $34.7M | ||
| Q2 25 | $5.3M | $33.6M | ||
| Q1 25 | $6.5M | $26.3M | ||
| Q4 24 | $10.3M | $27.8M | ||
| Q3 24 | $7.2M | $20.3M | ||
| Q2 24 | $6.9M | $33.1M | ||
| Q1 24 | $7.1M | $23.0M |
| Q4 25 | $468.4M | $3.8B | ||
| Q3 25 | $1.6B | $3.7B | ||
| Q2 25 | $1.6B | $3.1B | ||
| Q1 25 | $1.5B | $2.8B | ||
| Q4 24 | $455.8M | $1.6B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.4B | $1.3B |
| Q4 25 | $307.8M | $21.3M | ||
| Q3 25 | $316.6M | $181.1M | ||
| Q2 25 | $322.4M | $375.5M | ||
| Q1 25 | $328.4M | $476.2M | ||
| Q4 24 | $335.8M | $202.7M | ||
| Q3 24 | $341.8M | $370.8M | ||
| Q2 24 | $345.7M | $394.8M | ||
| Q1 24 | $347.1M | $402.5M |
| Q4 25 | $2.2B | $5.7B | ||
| Q3 25 | $2.2B | $5.5B | ||
| Q2 25 | $2.1B | $4.4B | ||
| Q1 25 | $2.1B | $4.1B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.1B | $2.4B | ||
| Q2 24 | $2.1B | $2.5B | ||
| Q1 24 | $2.0B | $2.3B |
| Q4 25 | 1.52× | 176.99× | ||
| Q3 25 | 5.02× | 20.59× | ||
| Q2 25 | 4.85× | 8.21× | ||
| Q1 25 | 4.70× | 5.79× | ||
| Q4 24 | 1.36× | 7.84× | ||
| Q3 24 | 4.37× | 4.14× | ||
| Q2 24 | 4.17× | 3.94× | ||
| Q1 24 | 4.06× | 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 | $99.8M | $-2.8M |
| Free Cash FlowOCF − Capex | — | $-68.6M |
| FCF MarginFCF / Revenue | — | -47.8% |
| Capex IntensityCapex / Revenue | — | 45.9% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $-2.8M | ||
| Q3 25 | $20.6M | $-24.4M | ||
| Q2 25 | $26.6M | $-5.2M | ||
| Q1 25 | $30.4M | $-85.7M | ||
| Q4 24 | $121.2M | $-8.1M | ||
| Q3 24 | $26.5M | $14.2M | ||
| Q2 24 | $32.1M | $-17.6M | ||
| Q1 24 | $33.8M | $-3.9M |
| Q4 25 | — | $-68.6M | ||
| Q3 25 | — | $-90.7M | ||
| Q2 25 | — | $-87.5M | ||
| Q1 25 | — | $-151.7M | ||
| Q4 24 | — | $-34.3M | ||
| Q3 24 | $-28.3M | $-11.7M | ||
| Q2 24 | $-12.5M | $-32.1M | ||
| Q1 24 | $-11.7M | $-16.7M |
| Q4 25 | — | -47.8% | ||
| Q3 25 | — | -64.5% | ||
| Q2 25 | — | -71.6% | ||
| Q1 25 | — | -157.7% | ||
| Q4 24 | — | -42.4% | ||
| Q3 24 | -42.1% | -14.0% | ||
| Q2 24 | -18.7% | -37.9% | ||
| Q1 24 | -17.6% | -20.3% |
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 67.3% | ||
| Q1 25 | — | 68.6% | ||
| Q4 24 | — | 32.5% | ||
| Q3 24 | 81.5% | 31.1% | ||
| Q2 24 | 66.7% | 17.2% | ||
| Q1 24 | 68.3% | 15.6% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | -0.71× | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
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% |
