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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $143.5M, roughly 1.6× FTAI Infrastructure Inc.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -68.1%, a 72.5% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 20.3%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 5.1%).
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.
CSW vs FIP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $143.5M |
| Net Profit | $10.3M | $-97.7M |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | -45.7% |
| Net Margin | 4.4% | -68.1% |
| Revenue YoY | 20.3% | 77.7% |
| Net Profit YoY | -61.9% | 21.6% |
| EPS (diluted) | $0.62 | $-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 | $233.0M | $143.5M | ||
| Q3 25 | $277.0M | $140.6M | ||
| Q2 25 | $263.6M | $122.3M | ||
| Q1 25 | $230.5M | $96.2M | ||
| Q4 24 | $193.6M | $80.8M | ||
| Q3 24 | $227.9M | $83.3M | ||
| Q2 24 | $226.2M | $84.9M | ||
| Q1 24 | $210.9M | $82.5M |
| Q4 25 | $10.3M | $-97.7M | ||
| Q3 25 | $40.7M | $-104.5M | ||
| Q2 25 | $40.9M | $-70.0M | ||
| Q1 25 | $35.1M | $120.2M | ||
| Q4 24 | $26.9M | $-124.7M | ||
| Q3 24 | $36.1M | $-43.0M | ||
| Q2 24 | $38.6M | $-48.1M | ||
| Q1 24 | $31.8M | $-50.3M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | -45.7% | ||
| Q3 25 | 20.5% | -70.8% | ||
| Q2 25 | 20.8% | -56.4% | ||
| Q1 25 | 19.5% | 81.8% | ||
| Q4 24 | 15.3% | -152.7% | ||
| Q3 24 | 22.6% | -51.7% | ||
| Q2 24 | 24.3% | -56.4% | ||
| Q1 24 | 21.0% | -58.8% |
| Q4 25 | 4.4% | -68.1% | ||
| Q3 25 | 14.7% | -74.4% | ||
| Q2 25 | 15.5% | -57.2% | ||
| Q1 25 | 15.2% | 125.0% | ||
| Q4 24 | 13.9% | -154.4% | ||
| Q3 24 | 15.8% | -51.6% | ||
| Q2 24 | 17.1% | -56.7% | ||
| Q1 24 | 15.1% | -60.9% |
| Q4 25 | $0.62 | $-1.04 | ||
| Q3 25 | $2.41 | $-1.38 | ||
| Q2 25 | $2.43 | $-0.73 | ||
| Q1 25 | $2.05 | $0.89 | ||
| Q4 24 | $1.60 | $-1.21 | ||
| Q3 24 | $2.26 | $-0.45 | ||
| Q2 24 | $2.47 | $-0.52 | ||
| Q1 24 | $2.03 | $-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 | $40.2M | $57.4M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $1.1B | $21.3M |
| Total Assets | $2.3B | $5.7B |
| Debt / EquityLower = less leverage | — | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $57.4M | ||
| Q3 25 | $31.5M | $34.7M | ||
| Q2 25 | $38.0M | $33.6M | ||
| Q1 25 | $225.8M | $26.3M | ||
| Q4 24 | $213.8M | $27.8M | ||
| Q3 24 | $273.2M | $20.3M | ||
| Q2 24 | $18.9M | $33.1M | ||
| Q1 24 | $22.2M | $23.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | $800.1M | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $166.0M | $1.3B |
| Q4 25 | $1.1B | $21.3M | ||
| Q3 25 | $1.1B | $181.1M | ||
| Q2 25 | $1.1B | $375.5M | ||
| Q1 25 | $1.1B | $476.2M | ||
| Q4 24 | $1.0B | $202.7M | ||
| Q3 24 | $1.0B | $370.8M | ||
| Q2 24 | $650.2M | $394.8M | ||
| Q1 24 | $615.7M | $402.5M |
| Q4 25 | $2.3B | $5.7B | ||
| Q3 25 | $1.5B | $5.5B | ||
| Q2 25 | $1.5B | $4.4B | ||
| Q1 25 | $1.4B | $4.1B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $1.1B | $2.5B | ||
| Q1 24 | $1.0B | $2.3B |
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | 0.75× | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | 0.27× | 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 | $28.9M | $-2.8M |
| Free Cash FlowOCF − Capex | $22.7M | $-68.6M |
| FCF MarginFCF / Revenue | 9.8% | -47.8% |
| Capex IntensityCapex / Revenue | 2.6% | 45.9% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $-2.8M | ||
| Q3 25 | $61.8M | $-24.4M | ||
| Q2 25 | $60.6M | $-5.2M | ||
| Q1 25 | $27.3M | $-85.7M | ||
| Q4 24 | $11.6M | $-8.1M | ||
| Q3 24 | $66.8M | $14.2M | ||
| Q2 24 | $62.7M | $-17.6M | ||
| Q1 24 | $22.4M | $-3.9M |
| Q4 25 | $22.7M | $-68.6M | ||
| Q3 25 | $58.7M | $-90.7M | ||
| Q2 25 | $57.7M | $-87.5M | ||
| Q1 25 | $22.8M | $-151.7M | ||
| Q4 24 | $8.5M | $-34.3M | ||
| Q3 24 | $61.3M | $-11.7M | ||
| Q2 24 | $59.6M | $-32.1M | ||
| Q1 24 | $17.5M | $-16.7M |
| Q4 25 | 9.8% | -47.8% | ||
| Q3 25 | 21.2% | -64.5% | ||
| Q2 25 | 21.9% | -71.6% | ||
| Q1 25 | 9.9% | -157.7% | ||
| Q4 24 | 4.4% | -42.4% | ||
| Q3 24 | 26.9% | -14.0% | ||
| Q2 24 | 26.3% | -37.9% | ||
| Q1 24 | 8.3% | -20.3% |
| Q4 25 | 2.6% | 45.9% | ||
| Q3 25 | 1.1% | 47.2% | ||
| Q2 25 | 1.1% | 67.3% | ||
| Q1 25 | 2.0% | 68.6% | ||
| Q4 24 | 1.6% | 32.5% | ||
| Q3 24 | 2.4% | 31.1% | ||
| Q2 24 | 1.4% | 17.2% | ||
| Q1 24 | 2.3% | 15.6% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | -0.71× | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
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% |
