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Side-by-side financial comparison of FIRST COMMONWEALTH FINANCIAL CORP (FCF) 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 $133.7M, roughly 1.1× FIRST COMMONWEALTH FINANCIAL CORP). FIRST COMMONWEALTH FINANCIAL CORP runs the higher net margin — 28.1% vs -68.1%, a 96.2% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 13.0%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 5.5%).
First Commonwealth Financial Corp is a Pennsylvania-based regional financial services holding company. It offers consumer and commercial banking products, loans, wealth management, and insurance services for individuals, small and mid-sized enterprises across central and western Pennsylvania and Ohio.
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.
FCF vs FIP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $133.7M | $143.5M |
| Net Profit | $37.5M | $-97.7M |
| Gross Margin | — | — |
| Operating Margin | — | -45.7% |
| Net Margin | 28.1% | -68.1% |
| Revenue YoY | 13.0% | 77.7% |
| Net Profit YoY | 14.8% | 21.6% |
| EPS (diluted) | $0.37 | $-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.
| Q1 26 | $133.7M | — | ||
| Q4 25 | $137.9M | $143.5M | ||
| Q3 25 | $136.0M | $140.6M | ||
| Q2 25 | $131.0M | $122.3M | ||
| Q1 25 | $118.0M | $96.2M | ||
| Q4 24 | $120.4M | $80.8M | ||
| Q3 24 | $121.2M | $83.3M | ||
| Q2 24 | $120.2M | $84.9M |
| Q1 26 | $37.5M | — | ||
| Q4 25 | $44.9M | $-97.7M | ||
| Q3 25 | $41.3M | $-104.5M | ||
| Q2 25 | $33.4M | $-70.0M | ||
| Q1 25 | $32.7M | $120.2M | ||
| Q4 24 | $35.8M | $-124.7M | ||
| Q3 24 | $32.1M | $-43.0M | ||
| Q2 24 | $37.1M | $-48.1M |
| Q1 26 | — | — | ||
| Q4 25 | 40.9% | -45.7% | ||
| Q3 25 | 38.1% | -70.8% | ||
| Q2 25 | 32.1% | -56.4% | ||
| Q1 25 | 34.8% | 81.8% | ||
| Q4 24 | 37.1% | -152.7% | ||
| Q3 24 | 33.4% | -51.7% | ||
| Q2 24 | 38.7% | -56.4% |
| Q1 26 | 28.1% | — | ||
| Q4 25 | 32.5% | -68.1% | ||
| Q3 25 | 30.4% | -74.4% | ||
| Q2 25 | 25.5% | -57.2% | ||
| Q1 25 | 27.7% | 125.0% | ||
| Q4 24 | 29.8% | -154.4% | ||
| Q3 24 | 26.5% | -51.6% | ||
| Q2 24 | 30.9% | -56.7% |
| Q1 26 | $0.37 | — | ||
| Q4 25 | $0.44 | $-1.04 | ||
| Q3 25 | $0.39 | $-1.38 | ||
| Q2 25 | $0.32 | $-0.73 | ||
| Q1 25 | $0.32 | $0.89 | ||
| Q4 24 | $0.35 | $-1.21 | ||
| Q3 24 | $0.31 | $-0.45 | ||
| Q2 24 | $0.36 | $-0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $57.4M |
| Total DebtLower is stronger | $154.9M | $3.8B |
| Stockholders' EquityBook value | $1.6B | $21.3M |
| Total Assets | $12.3B | $5.7B |
| Debt / EquityLower = less leverage | 0.10× | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $57.4M | ||
| Q3 25 | — | $34.7M | ||
| Q2 25 | — | $33.6M | ||
| Q1 25 | — | $26.3M | ||
| Q4 24 | — | $27.8M | ||
| Q3 24 | — | $20.3M | ||
| Q2 24 | — | $33.1M |
| Q1 26 | $154.9M | — | ||
| Q4 25 | $261.7M | $3.8B | ||
| Q3 25 | $262.1M | $3.7B | ||
| Q2 25 | $262.4M | $3.1B | ||
| Q1 25 | $262.7M | $2.8B | ||
| Q4 24 | $263.0M | $1.6B | ||
| Q3 24 | $136.3M | $1.5B | ||
| Q2 24 | $136.6M | $1.6B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $21.3M | ||
| Q3 25 | $1.5B | $181.1M | ||
| Q2 25 | $1.5B | $375.5M | ||
| Q1 25 | $1.4B | $476.2M | ||
| Q4 24 | $1.4B | $202.7M | ||
| Q3 24 | $1.4B | $370.8M | ||
| Q2 24 | $1.4B | $394.8M |
| Q1 26 | $12.3B | — | ||
| Q4 25 | $12.3B | $5.7B | ||
| Q3 25 | $12.3B | $5.5B | ||
| Q2 25 | $12.2B | $4.4B | ||
| Q1 25 | $11.8B | $4.1B | ||
| Q4 24 | $11.6B | $2.4B | ||
| Q3 24 | $12.0B | $2.4B | ||
| Q2 24 | $11.6B | $2.5B |
| Q1 26 | 0.10× | — | ||
| Q4 25 | 0.17× | 176.99× | ||
| Q3 25 | 0.17× | 20.59× | ||
| Q2 25 | 0.17× | 8.21× | ||
| Q1 25 | 0.18× | 5.79× | ||
| Q4 24 | 0.19× | 7.84× | ||
| Q3 24 | 0.10× | 4.14× | ||
| Q2 24 | 0.10× | 3.94× |
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 | — | $-2.8M |
| Free Cash FlowOCF − Capex | — | $-68.6M |
| FCF MarginFCF / Revenue | — | -47.8% |
| Capex IntensityCapex / Revenue | — | 45.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $187.5M | $-2.8M | ||
| Q3 25 | $49.5M | $-24.4M | ||
| Q2 25 | $30.4M | $-5.2M | ||
| Q1 25 | $55.9M | $-85.7M | ||
| Q4 24 | $129.5M | $-8.1M | ||
| Q3 24 | $53.6M | $14.2M | ||
| Q2 24 | $22.7M | $-17.6M |
| Q1 26 | — | — | ||
| Q4 25 | $171.5M | $-68.6M | ||
| Q3 25 | — | $-90.7M | ||
| Q2 25 | — | $-87.5M | ||
| Q1 25 | — | $-151.7M | ||
| Q4 24 | $113.9M | $-34.3M | ||
| Q3 24 | — | $-11.7M | ||
| Q2 24 | — | $-32.1M |
| Q1 26 | — | — | ||
| Q4 25 | 124.3% | -47.8% | ||
| Q3 25 | — | -64.5% | ||
| Q2 25 | — | -71.6% | ||
| Q1 25 | — | -157.7% | ||
| Q4 24 | 94.6% | -42.4% | ||
| Q3 24 | — | -14.0% | ||
| Q2 24 | — | -37.9% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 45.9% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 67.3% | ||
| Q1 25 | — | 68.6% | ||
| Q4 24 | 12.9% | 32.5% | ||
| Q3 24 | — | 31.1% | ||
| Q2 24 | — | 17.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.18× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 0.91× | — | ||
| Q1 25 | 1.71× | -0.71× | ||
| Q4 24 | 3.61× | — | ||
| Q3 24 | 1.67× | — | ||
| Q2 24 | 0.61× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCF
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% |
