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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and Fastly, Inc. (FSLY). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($172.6M vs $143.5M, roughly 1.2× FTAI Infrastructure Inc.). Fastly, Inc. runs the higher net margin — -9.0% vs -68.1%, a 59.1% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 22.8%). Fastly, Inc. produced more free cash flow last quarter ($12.2M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 13.7%).
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.
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
FIP vs FSLY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $172.6M |
| Net Profit | $-97.7M | $-15.5M |
| Gross Margin | — | 61.4% |
| Operating Margin | -45.7% | -8.7% |
| Net Margin | -68.1% | -9.0% |
| Revenue YoY | 77.7% | 22.8% |
| Net Profit YoY | 21.6% | 52.9% |
| EPS (diluted) | $-1.04 | $-0.10 |
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 | $172.6M | ||
| Q3 25 | $140.6M | $158.2M | ||
| Q2 25 | $122.3M | $148.7M | ||
| Q1 25 | $96.2M | $144.5M | ||
| Q4 24 | $80.8M | $140.6M | ||
| Q3 24 | $83.3M | $137.2M | ||
| Q2 24 | $84.9M | $132.4M | ||
| Q1 24 | $82.5M | $133.5M |
| Q4 25 | $-97.7M | $-15.5M | ||
| Q3 25 | $-104.5M | $-29.5M | ||
| Q2 25 | $-70.0M | $-37.5M | ||
| Q1 25 | $120.2M | $-39.1M | ||
| Q4 24 | $-124.7M | $-32.9M | ||
| Q3 24 | $-43.0M | $-38.0M | ||
| Q2 24 | $-48.1M | $-43.7M | ||
| Q1 24 | $-50.3M | $-43.4M |
| Q4 25 | — | 61.4% | ||
| Q3 25 | — | 58.4% | ||
| Q2 25 | — | 54.5% | ||
| Q1 25 | — | 53.2% | ||
| Q4 24 | — | 53.4% | ||
| Q3 24 | — | 54.5% | ||
| Q2 24 | — | 55.1% | ||
| Q1 24 | — | 54.8% |
| Q4 25 | -45.7% | -8.7% | ||
| Q3 25 | -70.8% | -18.2% | ||
| Q2 25 | -56.4% | -24.8% | ||
| Q1 25 | 81.8% | -26.4% | ||
| Q4 24 | -152.7% | -24.4% | ||
| Q3 24 | -51.7% | -29.6% | ||
| Q2 24 | -56.4% | -35.3% | ||
| Q1 24 | -58.8% | -34.6% |
| Q4 25 | -68.1% | -9.0% | ||
| Q3 25 | -74.4% | -18.6% | ||
| Q2 25 | -57.2% | -25.2% | ||
| Q1 25 | 125.0% | -27.1% | ||
| Q4 24 | -154.4% | -23.4% | ||
| Q3 24 | -51.6% | -27.7% | ||
| Q2 24 | -56.7% | -33.0% | ||
| Q1 24 | -60.9% | -32.5% |
| Q4 25 | $-1.04 | $-0.10 | ||
| Q3 25 | $-1.38 | $-0.20 | ||
| Q2 25 | $-0.73 | $-0.26 | ||
| Q1 25 | $0.89 | $-0.27 | ||
| Q4 24 | $-1.21 | $-0.23 | ||
| Q3 24 | $-0.45 | $-0.27 | ||
| Q2 24 | $-0.52 | $-0.32 | ||
| Q1 24 | $-0.54 | $-0.32 |
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 | $361.8M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $929.6M |
| Total Assets | $5.7B | $1.5B |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $361.8M | ||
| Q3 25 | $34.7M | $342.9M | ||
| Q2 25 | $33.6M | $321.2M | ||
| Q1 25 | $26.3M | $307.3M | ||
| Q4 24 | $27.8M | $295.9M | ||
| Q3 24 | $20.3M | $308.2M | ||
| Q2 24 | $33.1M | $311.8M | ||
| Q1 24 | $23.0M | $329.5M |
| 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 | $21.3M | $929.6M | ||
| Q3 25 | $181.1M | $937.0M | ||
| Q2 25 | $375.5M | $942.6M | ||
| Q1 25 | $476.2M | $957.0M | ||
| Q4 24 | $202.7M | $965.3M | ||
| Q3 24 | $370.8M | $969.5M | ||
| Q2 24 | $394.8M | $981.2M | ||
| Q1 24 | $402.5M | $991.8M |
| Q4 25 | $5.7B | $1.5B | ||
| Q3 25 | $5.5B | $1.5B | ||
| Q2 25 | $4.4B | $1.5B | ||
| Q1 25 | $4.1B | $1.4B | ||
| Q4 24 | $2.4B | $1.5B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.5B | $1.5B | ||
| Q1 24 | $2.3B | $1.5B |
| 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 | $-2.8M | $22.4M |
| Free Cash FlowOCF − Capex | $-68.6M | $12.2M |
| FCF MarginFCF / Revenue | -47.8% | 7.1% |
| Capex IntensityCapex / Revenue | 45.9% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $65.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $22.4M | ||
| Q3 25 | $-24.4M | $28.9M | ||
| Q2 25 | $-5.2M | $25.8M | ||
| Q1 25 | $-85.7M | $17.3M | ||
| Q4 24 | $-8.1M | $5.2M | ||
| Q3 24 | $14.2M | $5.0M | ||
| Q2 24 | $-17.6M | $-4.9M | ||
| Q1 24 | $-3.9M | $11.1M |
| Q4 25 | $-68.6M | $12.2M | ||
| Q3 25 | $-90.7M | $22.9M | ||
| Q2 25 | $-87.5M | $15.9M | ||
| Q1 25 | $-151.7M | $14.7M | ||
| Q4 24 | $-34.3M | $251.0K | ||
| Q3 24 | $-11.7M | $3.0M | ||
| Q2 24 | $-32.1M | $-6.7M | ||
| Q1 24 | $-16.7M | $9.5M |
| Q4 25 | -47.8% | 7.1% | ||
| Q3 25 | -64.5% | 14.5% | ||
| Q2 25 | -71.6% | 10.7% | ||
| Q1 25 | -157.7% | 10.2% | ||
| Q4 24 | -42.4% | 0.2% | ||
| Q3 24 | -14.0% | 2.2% | ||
| Q2 24 | -37.9% | -5.1% | ||
| Q1 24 | -20.3% | 7.1% |
| Q4 25 | 45.9% | 5.9% | ||
| Q3 25 | 47.2% | 3.8% | ||
| Q2 25 | 67.3% | 6.6% | ||
| Q1 25 | 68.6% | 1.8% | ||
| Q4 24 | 32.5% | 3.5% | ||
| Q3 24 | 31.1% | 1.5% | ||
| Q2 24 | 17.2% | 1.3% | ||
| Q1 24 | 15.6% | 1.2% |
| Q4 25 | — | — | ||
| 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
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% |
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
