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Side-by-side financial comparison of Brookfield Infrastructure Corp (BIPC) and Core Natural Resources, Inc. (CNR). Click either name above to swap in a different company.

Core Natural Resources, Inc. is the larger business by last-quarter revenue ($1.0B vs $866.0M, roughly 1.2× Brookfield Infrastructure Corp). Core Natural Resources, Inc. runs the higher net margin — -7.6% vs -35.7%, a 28.1% gap on every dollar of revenue. On growth, Core Natural Resources, Inc. posted the faster year-over-year revenue change (81.8% vs -4.6%).

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.

Arch Resources, previously known as Arch Coal, was an American coal mining and processing company. The company mined, processed, and marketed bituminous and sub-bituminous coal with low sulfur content in the United States. Arch Resources was the second-largest supplier of coal in the United States, behind Peabody Energy. As of 2011 the company supplied 15% of the domestic market. Demand came mainly from generators of electricity.

BIPC vs CNR — Head-to-Head

Bigger by revenue
CNR
CNR
1.2× larger
CNR
$1.0B
$866.0M
BIPC
Growing faster (revenue YoY)
CNR
CNR
+86.4% gap
CNR
81.8%
-4.6%
BIPC
Higher net margin
CNR
CNR
28.1% more per $
CNR
-7.6%
-35.7%
BIPC

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
BIPC
BIPC
CNR
CNR
Revenue
$866.0M
$1.0B
Net Profit
$-309.0M
$-79.0M
Gross Margin
65.0%
Operating Margin
62.7%
-9.3%
Net Margin
-35.7%
-7.6%
Revenue YoY
-4.6%
81.8%
Net Profit YoY
-148.1%
-356.3%
EPS (diluted)
$-1.51

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
BIPC
BIPC
CNR
CNR
Q4 25
$1.0B
Q3 25
$1.0B
Q2 25
$866.0M
$1.1B
Q1 25
$1.0B
Q4 24
$573.6M
Q3 24
$553.4M
Q2 24
$908.0M
$490.7M
Q1 24
$546.7M
Net Profit
BIPC
BIPC
CNR
CNR
Q4 25
$-79.0M
Q3 25
$31.6M
Q2 25
$-309.0M
$-36.6M
Q1 25
$-69.3M
Q4 24
$30.8M
Q3 24
$95.6M
Q2 24
$643.0M
$58.1M
Q1 24
$101.9M
Gross Margin
BIPC
BIPC
CNR
CNR
Q4 25
Q3 25
Q2 25
65.0%
Q1 25
Q4 24
Q3 24
Q2 24
63.8%
Q1 24
Operating Margin
BIPC
BIPC
CNR
CNR
Q4 25
-9.3%
Q3 25
-1.2%
Q2 25
62.7%
-1.7%
Q1 25
-5.3%
Q4 24
6.6%
Q3 24
21.2%
Q2 24
61.9%
14.6%
Q1 24
22.7%
Net Margin
BIPC
BIPC
CNR
CNR
Q4 25
-7.6%
Q3 25
3.2%
Q2 25
-35.7%
-3.3%
Q1 25
-6.8%
Q4 24
5.4%
Q3 24
17.3%
Q2 24
70.8%
11.8%
Q1 24
18.6%
EPS (diluted)
BIPC
BIPC
CNR
CNR
Q4 25
$-1.51
Q3 25
$0.61
Q2 25
$-0.70
Q1 25
$-1.38
Q4 24
$1.04
Q3 24
$3.22
Q2 24
$1.96
Q1 24
$3.39

Balance Sheet & Financial Strength

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

Metric
BIPC
BIPC
CNR
CNR
Cash + ST InvestmentsLiquidity on hand
$1.2B
$432.2M
Total DebtLower is stronger
$354.2M
Stockholders' EquityBook value
$2.2B
$3.7B
Total Assets
$23.9B
$6.1B
Debt / EquityLower = less leverage
0.10×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BIPC
BIPC
CNR
CNR
Q4 25
$432.2M
Q3 25
$444.7M
Q2 25
$1.2B
$413.2M
Q1 25
$388.5M
Q4 24
$460.2M
Q3 24
$331.7M
Q2 24
$466.0M
$216.1M
Q1 24
$172.6M
Total Debt
BIPC
BIPC
CNR
CNR
Q4 25
$354.2M
Q3 25
$334.5M
Q2 25
$334.0M
Q1 25
$329.8M
Q4 24
$94.8M
Q3 24
$83.7M
Q2 24
$184.9M
Q1 24
$185.5M
Stockholders' Equity
BIPC
BIPC
CNR
CNR
Q4 25
$3.7B
Q3 25
$3.8B
Q2 25
$2.2B
$3.8B
Q1 25
$3.9B
Q4 24
$1.6B
Q3 24
$1.5B
Q2 24
$3.5B
$1.4B
Q1 24
$1.4B
Total Assets
BIPC
BIPC
CNR
CNR
Q4 25
$6.1B
Q3 25
$6.2B
Q2 25
$23.9B
$6.2B
Q1 25
$6.3B
Q4 24
$2.9B
Q3 24
$2.8B
Q2 24
$23.7B
$2.7B
Q1 24
$2.7B
Debt / Equity
BIPC
BIPC
CNR
CNR
Q4 25
0.10×
Q3 25
0.09×
Q2 25
0.09×
Q1 25
0.08×
Q4 24
0.06×
Q3 24
0.05×
Q2 24
0.13×
Q1 24
0.13×

Cash Flow & Capital Efficiency

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

Metric
BIPC
BIPC
CNR
CNR
Operating Cash FlowLast quarter
$478.0M
$107.3M
Free Cash FlowOCF − Capex
$26.0M
FCF MarginFCF / Revenue
2.5%
Capex IntensityCapex / Revenue
7.8%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$21.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BIPC
BIPC
CNR
CNR
Q4 25
$107.3M
Q3 25
$87.9M
Q2 25
$478.0M
$220.2M
Q1 25
$-109.6M
Q4 24
$121.3M
Q3 24
$161.3M
Q2 24
$511.0M
$116.3M
Q1 24
$77.5M
Free Cash Flow
BIPC
BIPC
CNR
CNR
Q4 25
$26.0M
Q3 25
$38.6M
Q2 25
$131.0M
Q1 25
$-174.5M
Q4 24
$80.5M
Q3 24
$121.9M
Q2 24
$60.9M
Q1 24
$35.1M
FCF Margin
BIPC
BIPC
CNR
CNR
Q4 25
2.5%
Q3 25
3.9%
Q2 25
11.9%
Q1 25
-17.1%
Q4 24
14.0%
Q3 24
22.0%
Q2 24
12.4%
Q1 24
6.4%
Capex Intensity
BIPC
BIPC
CNR
CNR
Q4 25
7.8%
Q3 25
4.9%
Q2 25
8.1%
Q1 25
6.4%
Q4 24
7.1%
Q3 24
7.1%
Q2 24
11.3%
Q1 24
7.7%
Cash Conversion
BIPC
BIPC
CNR
CNR
Q4 25
Q3 25
2.78×
Q2 25
Q1 25
Q4 24
3.94×
Q3 24
1.69×
Q2 24
0.79×
2.00×
Q1 24
0.76×

Financial Flow Comparison

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

Revenue Breakdown by Segment

BIPC
BIPC

Segment breakdown not available.

CNR
CNR

Other$397.4M38%
Power Generation$376.5M36%
PRB$183.0M18%
Metallurgical$42.0M4%
Industrial$34.1M3%
Terminal Revenue$6.4M1%
Other Revenue$3.0M0%

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