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Side-by-side financial comparison of Brookfield Infrastructure Partners L.P. (BIP) and International Paper (IP). Click either name above to swap in a different company.

Brookfield Infrastructure Partners L.P. is the larger business by last-quarter revenue ($5.4B vs $4.7B, roughly 1.1× International Paper). Brookfield Infrastructure Partners L.P. runs the higher net margin — 4.6% vs -50.3%, a 54.9% gap on every dollar of revenue. On growth, Brookfield Infrastructure Partners L.P. posted the faster year-over-year revenue change (5.7% vs 3.6%).

Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.

The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 39,000 employees, and is headquartered in Memphis, Tennessee.

BIP vs IP — Head-to-Head

Bigger by revenue
BIP
BIP
1.1× larger
BIP
$5.4B
$4.7B
IP
Growing faster (revenue YoY)
BIP
BIP
+2.1% gap
BIP
5.7%
3.6%
IP
Higher net margin
BIP
BIP
54.9% more per $
BIP
4.6%
-50.3%
IP

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
BIP
BIP
IP
IP
Revenue
$5.4B
$4.7B
Net Profit
$252.0M
$-2.4B
Gross Margin
26.4%
32.2%
Operating Margin
24.4%
-56.4%
Net Margin
4.6%
-50.3%
Revenue YoY
5.7%
3.6%
Net Profit YoY
37.0%
-1521.8%
EPS (diluted)
$-0.03
$-4.76

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.

Revenue
BIP
BIP
IP
IP
Q4 25
$4.7B
Q3 25
$6.2B
Q2 25
$5.4B
$6.8B
Q1 25
$5.9B
Q4 24
$4.6B
Q3 24
$4.7B
Q2 24
$5.1B
$4.7B
Q1 24
$4.6B
Net Profit
BIP
BIP
IP
IP
Q4 25
$-2.4B
Q3 25
$-1.1B
Q2 25
$252.0M
$75.0M
Q1 25
$-105.0M
Q4 24
$-147.0M
Q3 24
$150.0M
Q2 24
$184.0M
$498.0M
Q1 24
$56.0M
Gross Margin
BIP
BIP
IP
IP
Q4 25
32.2%
Q3 25
31.1%
Q2 25
26.4%
27.9%
Q1 25
27.8%
Q4 24
29.0%
Q3 24
28.7%
Q2 24
24.6%
29.0%
Q1 24
25.9%
Operating Margin
BIP
BIP
IP
IP
Q4 25
-56.4%
Q3 25
-10.8%
Q2 25
24.4%
1.7%
Q1 25
-2.3%
Q4 24
-4.9%
Q3 24
5.1%
Q2 24
22.8%
6.8%
Q1 24
3.7%
Net Margin
BIP
BIP
IP
IP
Q4 25
-50.3%
Q3 25
-17.7%
Q2 25
4.6%
1.1%
Q1 25
-1.8%
Q4 24
-3.2%
Q3 24
3.2%
Q2 24
3.6%
10.5%
Q1 24
1.2%
EPS (diluted)
BIP
BIP
IP
IP
Q4 25
$-4.76
Q3 25
$-2.09
Q2 25
$-0.03
$0.14
Q1 25
$-0.24
Q4 24
$-0.42
Q3 24
$0.42
Q2 24
$-0.10
$1.41
Q1 24
$0.16

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BIP
BIP
IP
IP
Cash + ST InvestmentsLiquidity on hand
$2.3B
$1.1B
Total DebtLower is stronger
$8.8B
Stockholders' EquityBook value
$29.6B
$14.8B
Total Assets
$108.7B
$38.0B
Debt / EquityLower = less leverage
0.60×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BIP
BIP
IP
IP
Q4 25
$1.1B
Q3 25
$995.0M
Q2 25
$2.3B
$1.1B
Q1 25
$1.2B
Q4 24
$1.2B
Q3 24
$1.2B
Q2 24
$1.3B
$1.0B
Q1 24
$1.1B
Total Debt
BIP
BIP
IP
IP
Q4 25
$8.8B
Q3 25
$9.0B
Q2 25
$9.7B
Q1 25
$9.2B
Q4 24
$5.4B
Q3 24
$5.3B
Q2 24
$5.3B
Q1 24
$5.5B
Stockholders' Equity
BIP
BIP
IP
IP
Q4 25
$14.8B
Q3 25
$17.3B
Q2 25
$29.6B
$18.6B
Q1 25
$18.1B
Q4 24
$8.2B
Q3 24
$8.6B
Q2 24
$30.1B
$8.6B
Q1 24
$8.3B
Total Assets
BIP
BIP
IP
IP
Q4 25
$38.0B
Q3 25
$40.6B
Q2 25
$108.7B
$42.4B
Q1 25
$41.2B
Q4 24
$22.8B
Q3 24
$23.2B
Q2 24
$100.9B
$23.1B
Q1 24
$23.0B
Debt / Equity
BIP
BIP
IP
IP
Q4 25
0.60×
Q3 25
0.52×
Q2 25
0.52×
Q1 25
0.51×
Q4 24
0.66×
Q3 24
0.62×
Q2 24
0.62×
Q1 24
0.66×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BIP
BIP
IP
IP
Operating Cash FlowLast quarter
$1.2B
$905.0M
Free Cash FlowOCF − Capex
$255.0M
FCF MarginFCF / Revenue
5.4%
Capex IntensityCapex / Revenue
13.7%
Cash ConversionOCF / Net Profit
4.72×
TTM Free Cash FlowTrailing 4 quarters
$-159.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BIP
BIP
IP
IP
Q4 25
$905.0M
Q3 25
$605.0M
Q2 25
$1.2B
$476.0M
Q1 25
$-288.0M
Q4 24
$397.0M
Q3 24
$521.0M
Q2 24
$1.1B
$365.0M
Q1 24
$395.0M
Free Cash Flow
BIP
BIP
IP
IP
Q4 25
$255.0M
Q3 25
$150.0M
Q2 25
$54.0M
Q1 25
$-618.0M
Q4 24
$137.0M
Q3 24
$309.0M
Q2 24
$167.0M
Q1 24
$144.0M
FCF Margin
BIP
BIP
IP
IP
Q4 25
5.4%
Q3 25
2.4%
Q2 25
0.8%
Q1 25
-10.5%
Q4 24
3.0%
Q3 24
6.6%
Q2 24
3.5%
Q1 24
3.1%
Capex Intensity
BIP
BIP
IP
IP
Q4 25
13.7%
Q3 25
7.3%
Q2 25
6.2%
Q1 25
5.6%
Q4 24
5.7%
Q3 24
4.5%
Q2 24
4.2%
Q1 24
5.4%
Cash Conversion
BIP
BIP
IP
IP
Q4 25
Q3 25
Q2 25
4.72×
6.35×
Q1 25
Q4 24
Q3 24
3.47×
Q2 24
5.74×
0.73×
Q1 24
7.05×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

BIP
BIP

Segment breakdown not available.

IP
IP

Other$2.4B52%
DS Smith Packaging$2.3B48%

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