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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
GCM Grosvenor Inc. is the larger business by last-quarter revenue ($177.1M vs $143.5M, roughly 1.2× FTAI Infrastructure Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs -68.1%, a 100.9% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 27.5%).
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.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
FIP vs GCMG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $177.1M |
| Net Profit | $-97.7M | $58.2M |
| Gross Margin | — | — |
| Operating Margin | -45.7% | 30.9% |
| Net Margin | -68.1% | 32.8% |
| Revenue YoY | 77.7% | 7.2% |
| Net Profit YoY | 21.6% | 149.2% |
| EPS (diluted) | $-1.04 | $0.23 |
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 | $177.1M | ||
| Q3 25 | $140.6M | $135.0M | ||
| Q2 25 | $122.3M | $119.7M | ||
| Q1 25 | $96.2M | $125.8M | ||
| Q4 24 | $80.8M | $165.3M | ||
| Q3 24 | $83.3M | $122.9M | ||
| Q2 24 | $84.9M | $117.0M | ||
| Q1 24 | $82.5M | $108.9M |
| Q4 25 | $-97.7M | $58.2M | ||
| Q3 25 | $-104.5M | $10.5M | ||
| Q2 25 | $-70.0M | $15.4M | ||
| Q1 25 | $120.2M | $463.0K | ||
| Q4 24 | $-124.7M | $7.6M | ||
| Q3 24 | $-43.0M | $4.2M | ||
| Q2 24 | $-48.1M | $4.8M | ||
| Q1 24 | $-50.3M | $2.1M |
| Q4 25 | -45.7% | 30.9% | ||
| Q3 25 | -70.8% | 32.7% | ||
| Q2 25 | -56.4% | 16.1% | ||
| Q1 25 | 81.8% | 12.2% | ||
| Q4 24 | -152.7% | 26.4% | ||
| Q3 24 | -51.7% | 20.3% | ||
| Q2 24 | -56.4% | 17.8% | ||
| Q1 24 | -58.8% | -14.7% |
| Q4 25 | -68.1% | 32.8% | ||
| Q3 25 | -74.4% | 7.8% | ||
| Q2 25 | -57.2% | 12.9% | ||
| Q1 25 | 125.0% | 0.4% | ||
| Q4 24 | -154.4% | 4.6% | ||
| Q3 24 | -51.6% | 3.4% | ||
| Q2 24 | -56.7% | 4.1% | ||
| Q1 24 | -60.9% | 2.0% |
| Q4 25 | $-1.04 | $0.23 | ||
| Q3 25 | $-1.38 | $0.16 | ||
| Q2 25 | $-0.73 | $0.05 | ||
| Q1 25 | $0.89 | $-0.02 | ||
| Q4 24 | $-1.21 | $0.09 | ||
| Q3 24 | $-0.45 | $0.03 | ||
| Q2 24 | $-0.52 | $0.04 | ||
| Q1 24 | $-0.54 | $-0.13 |
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 | $242.1M |
| Total DebtLower is stronger | $3.8B | $428.4M |
| Stockholders' EquityBook value | $21.3M | $27.0M |
| Total Assets | $5.7B | $813.8M |
| Debt / EquityLower = less leverage | 176.99× | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $242.1M | ||
| Q3 25 | $34.7M | $182.7M | ||
| Q2 25 | $33.6M | $136.3M | ||
| Q1 25 | $26.3M | $94.5M | ||
| Q4 24 | $27.8M | $89.5M | ||
| Q3 24 | $20.3M | $98.4M | ||
| Q2 24 | $33.1M | $73.9M | ||
| Q1 24 | $23.0M | $41.9M |
| Q4 25 | $3.8B | $428.4M | ||
| Q3 25 | $3.7B | $429.3M | ||
| Q2 25 | $3.1B | $430.2M | ||
| Q1 25 | $2.8B | $431.1M | ||
| Q4 24 | $1.6B | $432.0M | ||
| Q3 24 | $1.5B | $432.9M | ||
| Q2 24 | $1.6B | $433.8M | ||
| Q1 24 | $1.3B | $384.0M |
| Q4 25 | $21.3M | $27.0M | ||
| Q3 25 | $181.1M | $-7.4M | ||
| Q2 25 | $375.5M | $-12.3M | ||
| Q1 25 | $476.2M | $-28.3M | ||
| Q4 24 | $202.7M | $-27.6M | ||
| Q3 24 | $370.8M | $-31.9M | ||
| Q2 24 | $394.8M | $-28.5M | ||
| Q1 24 | $402.5M | $-26.4M |
| Q4 25 | $5.7B | $813.8M | ||
| Q3 25 | $5.5B | $685.9M | ||
| Q2 25 | $4.4B | $636.9M | ||
| Q1 25 | $4.1B | $579.8M | ||
| Q4 24 | $2.4B | $612.7M | ||
| Q3 24 | $2.4B | $575.0M | ||
| Q2 24 | $2.5B | $543.9M | ||
| Q1 24 | $2.3B | $497.3M |
| Q4 25 | 176.99× | 15.87× | ||
| 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 | $183.5M |
| Free Cash FlowOCF − Capex | $-68.6M | $175.0M |
| FCF MarginFCF / Revenue | -47.8% | 98.8% |
| Capex IntensityCapex / Revenue | 45.9% | 4.8% |
| Cash ConversionOCF / Net Profit | — | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $183.5M | ||
| Q3 25 | $-24.4M | $79.8M | ||
| Q2 25 | $-5.2M | $42.0M | ||
| Q1 25 | $-85.7M | $33.3M | ||
| Q4 24 | $-8.1M | $148.8M | ||
| Q3 24 | $14.2M | $69.0M | ||
| Q2 24 | $-17.6M | $17.5M | ||
| Q1 24 | $-3.9M | $24.2M |
| Q4 25 | $-68.6M | $175.0M | ||
| Q3 25 | $-90.7M | $78.3M | ||
| Q2 25 | $-87.5M | $40.8M | ||
| Q1 25 | $-151.7M | $32.1M | ||
| Q4 24 | $-34.3M | $132.0M | ||
| Q3 24 | $-11.7M | $62.2M | ||
| Q2 24 | $-32.1M | $12.8M | ||
| Q1 24 | $-16.7M | $20.0M |
| Q4 25 | -47.8% | 98.8% | ||
| Q3 25 | -64.5% | 58.0% | ||
| Q2 25 | -71.6% | 34.1% | ||
| Q1 25 | -157.7% | 25.5% | ||
| Q4 24 | -42.4% | 79.9% | ||
| Q3 24 | -14.0% | 50.6% | ||
| Q2 24 | -37.9% | 10.9% | ||
| Q1 24 | -20.3% | 18.4% |
| Q4 25 | 45.9% | 4.8% | ||
| Q3 25 | 47.2% | 1.1% | ||
| Q2 25 | 67.3% | 1.0% | ||
| Q1 25 | 68.6% | 0.9% | ||
| Q4 24 | 32.5% | 10.1% | ||
| Q3 24 | 31.1% | 5.5% | ||
| Q2 24 | 17.2% | 4.0% | ||
| Q1 24 | 15.6% | 3.9% |
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 7.61× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | -0.71× | 71.84× | ||
| Q4 24 | — | 19.54× | ||
| Q3 24 | — | 16.60× | ||
| Q2 24 | — | 3.64× | ||
| Q1 24 | — | 11.40× |
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% |
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
