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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $143.5M, roughly 1.9× FTAI Infrastructure Inc.). Forestar Group Inc. runs the higher net margin — 5.6% vs -68.1%, a 73.7% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 9.0%). FTAI Infrastructure Inc. produced more free cash flow last quarter ($-68.6M vs $-157.1M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs -9.6%).
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.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
FIP vs FOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $273.0M |
| Net Profit | $-97.7M | $15.4M |
| Gross Margin | — | 20.1% |
| Operating Margin | -45.7% | 7.6% |
| Net Margin | -68.1% | 5.6% |
| Revenue YoY | 77.7% | 9.0% |
| Net Profit YoY | 21.6% | -6.7% |
| EPS (diluted) | $-1.04 | $0.30 |
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 | $143.5M | $273.0M | ||
| Q3 25 | $140.6M | $670.5M | ||
| Q2 25 | $122.3M | $390.5M | ||
| Q1 25 | $96.2M | $351.0M | ||
| Q4 24 | $80.8M | $250.4M | ||
| Q3 24 | $83.3M | $551.3M | ||
| Q2 24 | $84.9M | $318.4M | ||
| Q1 24 | $82.5M | $333.8M |
| Q4 25 | $-97.7M | $15.4M | ||
| Q3 25 | $-104.5M | $86.9M | ||
| Q2 25 | $-70.0M | $32.9M | ||
| Q1 25 | $120.2M | $31.6M | ||
| Q4 24 | $-124.7M | $16.5M | ||
| Q3 24 | $-43.0M | $81.5M | ||
| Q2 24 | $-48.1M | $38.7M | ||
| Q1 24 | $-50.3M | $45.0M |
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 24.9% |
| Q4 25 | -45.7% | 7.6% | ||
| Q3 25 | -70.8% | 16.9% | ||
| Q2 25 | -56.4% | 11.2% | ||
| Q1 25 | 81.8% | 11.6% | ||
| Q4 24 | -152.7% | 8.7% | ||
| Q3 24 | -51.7% | 19.7% | ||
| Q2 24 | -56.4% | 16.2% | ||
| Q1 24 | -58.8% | 17.6% |
| Q4 25 | -68.1% | 5.6% | ||
| Q3 25 | -74.4% | 13.0% | ||
| Q2 25 | -57.2% | 8.4% | ||
| Q1 25 | 125.0% | 9.0% | ||
| Q4 24 | -154.4% | 6.6% | ||
| Q3 24 | -51.6% | 14.8% | ||
| Q2 24 | -56.7% | 12.2% | ||
| Q1 24 | -60.9% | 13.5% |
| Q4 25 | $-1.04 | $0.30 | ||
| Q3 25 | $-1.38 | $1.70 | ||
| Q2 25 | $-0.73 | $0.65 | ||
| Q1 25 | $0.89 | $0.62 | ||
| Q4 24 | $-1.21 | $0.32 | ||
| Q3 24 | $-0.45 | $1.59 | ||
| Q2 24 | $-0.52 | $0.76 | ||
| Q1 24 | $-0.54 | $0.89 |
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 | $211.7M |
| Total DebtLower is stronger | $3.8B | $793.2M |
| Stockholders' EquityBook value | $21.3M | $1.8B |
| Total Assets | $5.7B | $3.2B |
| Debt / EquityLower = less leverage | 176.99× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $211.7M | ||
| Q3 25 | $34.7M | $379.2M | ||
| Q2 25 | $33.6M | $189.2M | ||
| Q1 25 | $26.3M | $174.3M | ||
| Q4 24 | $27.8M | $132.0M | ||
| Q3 24 | $20.3M | $481.2M | ||
| Q2 24 | $33.1M | $359.2M | ||
| Q1 24 | $23.0M | $416.2M |
| Q4 25 | $3.8B | $793.2M | ||
| Q3 25 | $3.7B | $802.7M | ||
| Q2 25 | $3.1B | $872.8M | ||
| Q1 25 | $2.8B | $872.5M | ||
| Q4 24 | $1.6B | $806.8M | ||
| Q3 24 | $1.5B | $706.4M | ||
| Q2 24 | $1.6B | $706.1M | ||
| Q1 24 | $1.3B | $705.7M |
| Q4 25 | $21.3M | $1.8B | ||
| Q3 25 | $181.1M | $1.8B | ||
| Q2 25 | $375.5M | $1.7B | ||
| Q1 25 | $476.2M | $1.6B | ||
| Q4 24 | $202.7M | $1.6B | ||
| Q3 24 | $370.8M | $1.6B | ||
| Q2 24 | $394.8M | $1.5B | ||
| Q1 24 | $402.5M | $1.5B |
| Q4 25 | $5.7B | $3.2B | ||
| Q3 25 | $5.5B | $3.1B | ||
| Q2 25 | $4.4B | $3.1B | ||
| Q1 25 | $4.1B | $3.0B | ||
| Q4 24 | $2.4B | $3.0B | ||
| Q3 24 | $2.4B | $2.8B | ||
| Q2 24 | $2.5B | $2.7B | ||
| Q1 24 | $2.3B | $2.6B |
| Q4 25 | 176.99× | 0.44× | ||
| Q3 25 | 20.59× | 0.45× | ||
| Q2 25 | 8.21× | 0.52× | ||
| Q1 25 | 5.79× | 0.53× | ||
| Q4 24 | 7.84× | 0.50× | ||
| Q3 24 | 4.14× | 0.44× | ||
| Q2 24 | 3.94× | 0.47× | ||
| Q1 24 | 3.34× | 0.48× |
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 | $-157.0M |
| Free Cash FlowOCF − Capex | $-68.6M | $-157.1M |
| FCF MarginFCF / Revenue | -47.8% | -57.5% |
| Capex IntensityCapex / Revenue | 45.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $-157.0M | ||
| Q3 25 | $-24.4M | $256.3M | ||
| Q2 25 | $-5.2M | $15.8M | ||
| Q1 25 | $-85.7M | $-19.8M | ||
| Q4 24 | $-8.1M | $-450.0M | ||
| Q3 24 | $14.2M | $119.2M | ||
| Q2 24 | $-17.6M | $-61.7M | ||
| Q1 24 | $-3.9M | $-59.2M |
| Q4 25 | $-68.6M | $-157.1M | ||
| Q3 25 | $-90.7M | $255.6M | ||
| Q2 25 | $-87.5M | $15.0M | ||
| Q1 25 | $-151.7M | $-20.5M | ||
| Q4 24 | $-34.3M | — | ||
| Q3 24 | $-11.7M | $118.4M | ||
| Q2 24 | $-32.1M | $-62.3M | ||
| Q1 24 | $-16.7M | $-59.8M |
| Q4 25 | -47.8% | -57.5% | ||
| Q3 25 | -64.5% | 38.1% | ||
| Q2 25 | -71.6% | 3.8% | ||
| Q1 25 | -157.7% | -5.8% | ||
| Q4 24 | -42.4% | — | ||
| Q3 24 | -14.0% | 21.5% | ||
| Q2 24 | -37.9% | -19.6% | ||
| Q1 24 | -20.3% | -17.9% |
| Q4 25 | 45.9% | 0.0% | ||
| Q3 25 | 47.2% | 0.1% | ||
| Q2 25 | 67.3% | 0.2% | ||
| Q1 25 | 68.6% | 0.2% | ||
| Q4 24 | 32.5% | 0.0% | ||
| Q3 24 | 31.1% | 0.1% | ||
| Q2 24 | 17.2% | 0.2% | ||
| Q1 24 | 15.6% | 0.2% |
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | -0.71× | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | — | -1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
