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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) 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 $85.1M, roughly 1.7× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -68.1%, a 90.9% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 77.7%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-68.6M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 31.9%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
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.
FDMT vs FIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $143.5M |
| Net Profit | $19.4M | $-97.7M |
| Gross Margin | — | — |
| Operating Margin | 17.3% | -45.7% |
| Net Margin | 22.8% | -68.1% |
| Revenue YoY | 8508900.0% | 77.7% |
| Net Profit YoY | 139.1% | 21.6% |
| EPS (diluted) | $0.43 | $-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 | $85.1M | $143.5M | ||
| Q3 25 | $90.0K | $140.6M | ||
| Q2 25 | $15.0K | $122.3M | ||
| Q1 25 | $14.0K | $96.2M | ||
| Q4 24 | $1.0K | $80.8M | ||
| Q3 24 | $3.0K | $83.3M | ||
| Q2 24 | $5.0K | $84.9M | ||
| Q1 24 | $28.0K | $82.5M |
| Q4 25 | $19.4M | $-97.7M | ||
| Q3 25 | $-56.9M | $-104.5M | ||
| Q2 25 | $-54.7M | $-70.0M | ||
| Q1 25 | $-48.0M | $120.2M | ||
| Q4 24 | — | $-124.7M | ||
| Q3 24 | $-43.8M | $-43.0M | ||
| Q2 24 | $-35.0M | $-48.1M | ||
| Q1 24 | $-32.4M | $-50.3M |
| Q4 25 | 17.3% | -45.7% | ||
| Q3 25 | -67983.3% | -70.8% | ||
| Q2 25 | -396373.3% | -56.4% | ||
| Q1 25 | -383007.1% | 81.8% | ||
| Q4 24 | — | -152.7% | ||
| Q3 24 | -1704400.0% | -51.7% | ||
| Q2 24 | -849120.0% | -56.4% | ||
| Q1 24 | -136200.0% | -58.8% |
| Q4 25 | 22.8% | -68.1% | ||
| Q3 25 | -63195.6% | -74.4% | ||
| Q2 25 | -364386.7% | -57.2% | ||
| Q1 25 | -342657.1% | 125.0% | ||
| Q4 24 | — | -154.4% | ||
| Q3 24 | -1461433.3% | -51.6% | ||
| Q2 24 | -699060.0% | -56.7% | ||
| Q1 24 | -115717.9% | -60.9% |
| Q4 25 | $0.43 | $-1.04 | ||
| Q3 25 | $-1.01 | $-1.38 | ||
| Q2 25 | $-0.98 | $-0.73 | ||
| Q1 25 | $-0.86 | $0.89 | ||
| Q4 24 | — | $-1.21 | ||
| Q3 24 | $-0.79 | $-0.45 | ||
| Q2 24 | $-0.63 | $-0.52 | ||
| Q1 24 | $-0.66 | $-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 | $402.7M | $57.4M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $505.7M | $21.3M |
| Total Assets | $566.7M | $5.7B |
| Debt / EquityLower = less leverage | — | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $57.4M | ||
| Q3 25 | $305.1M | $34.7M | ||
| Q2 25 | $293.2M | $33.6M | ||
| Q1 25 | $321.4M | $26.3M | ||
| Q4 24 | $424.9M | $27.8M | ||
| Q3 24 | $501.9M | $20.3M | ||
| Q2 24 | $541.9M | $33.1M | ||
| Q1 24 | $525.9M | $23.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $505.7M | $21.3M | ||
| Q3 25 | $369.0M | $181.1M | ||
| Q2 25 | $420.9M | $375.5M | ||
| Q1 25 | $469.7M | $476.2M | ||
| Q4 24 | $510.6M | $202.7M | ||
| Q3 24 | $552.9M | $370.8M | ||
| Q2 24 | $588.3M | $394.8M | ||
| Q1 24 | $600.6M | $402.5M |
| Q4 25 | $566.7M | $5.7B | ||
| Q3 25 | $424.0M | $5.5B | ||
| Q2 25 | $473.6M | $4.4B | ||
| Q1 25 | $515.7M | $4.1B | ||
| Q4 24 | $560.4M | $2.4B | ||
| Q3 24 | $604.0M | $2.4B | ||
| Q2 24 | $620.1M | $2.5B | ||
| Q1 24 | $629.9M | $2.3B |
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 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 | $28.6M | $-2.8M |
| Free Cash FlowOCF − Capex | $28.5M | $-68.6M |
| FCF MarginFCF / Revenue | 33.5% | -47.8% |
| Capex IntensityCapex / Revenue | 0.1% | 45.9% |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $-2.8M | ||
| Q3 25 | $-46.5M | $-24.4M | ||
| Q2 25 | $-43.4M | $-5.2M | ||
| Q1 25 | $-47.8M | $-85.7M | ||
| Q4 24 | $-134.6M | $-8.1M | ||
| Q3 24 | $-29.4M | $14.2M | ||
| Q2 24 | $-30.2M | $-17.6M | ||
| Q1 24 | $-29.1M | $-3.9M |
| Q4 25 | $28.5M | $-68.6M | ||
| Q3 25 | $-46.6M | $-90.7M | ||
| Q2 25 | $-43.4M | $-87.5M | ||
| Q1 25 | $-48.4M | $-151.7M | ||
| Q4 24 | $-138.4M | $-34.3M | ||
| Q3 24 | $-31.2M | $-11.7M | ||
| Q2 24 | $-30.6M | $-32.1M | ||
| Q1 24 | $-29.8M | $-16.7M |
| Q4 25 | 33.5% | -47.8% | ||
| Q3 25 | -51765.6% | -64.5% | ||
| Q2 25 | -289620.0% | -71.6% | ||
| Q1 25 | -345635.7% | -157.7% | ||
| Q4 24 | -13837100.0% | -42.4% | ||
| Q3 24 | -1038966.7% | -14.0% | ||
| Q2 24 | -611840.0% | -37.9% | ||
| Q1 24 | -106421.4% | -20.3% |
| Q4 25 | 0.1% | 45.9% | ||
| Q3 25 | 101.1% | 47.2% | ||
| Q2 25 | 440.0% | 67.3% | ||
| Q1 25 | 4507.1% | 68.6% | ||
| Q4 24 | 378600.0% | 32.5% | ||
| Q3 24 | 59266.7% | 31.1% | ||
| Q2 24 | 6980.0% | 17.2% | ||
| Q1 24 | 2535.7% | 15.6% |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
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% |
