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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and IMAX CORP (IMAX). Click either name above to swap in a different company.
FTAI Infrastructure Inc. is the larger business by last-quarter revenue ($143.5M vs $125.2M, roughly 1.1× IMAX CORP). IMAX CORP runs the higher net margin — 0.5% vs -68.1%, a 68.6% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 35.1%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 25.8%).
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.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
FIP vs IMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $125.2M |
| Net Profit | $-97.7M | $637.0K |
| Gross Margin | — | 57.6% |
| Operating Margin | -45.7% | 19.3% |
| Net Margin | -68.1% | 0.5% |
| Revenue YoY | 77.7% | 35.1% |
| Net Profit YoY | 21.6% | -88.0% |
| EPS (diluted) | $-1.04 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $140.6M | $106.7M | ||
| Q2 25 | $122.3M | $91.7M | ||
| Q1 25 | $96.2M | $86.7M | ||
| Q4 24 | $80.8M | $92.7M | ||
| Q3 24 | $83.3M | $91.5M | ||
| Q2 24 | $84.9M | $89.0M | ||
| Q1 24 | $82.5M | $79.1M |
| Q4 25 | $-97.7M | $637.0K | ||
| Q3 25 | $-104.5M | $20.7M | ||
| Q2 25 | $-70.0M | $11.3M | ||
| Q1 25 | $120.2M | $2.3M | ||
| Q4 24 | $-124.7M | $5.3M | ||
| Q3 24 | $-43.0M | $13.9M | ||
| Q2 24 | $-48.1M | $3.6M | ||
| Q1 24 | $-50.3M | $3.3M |
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 63.1% | ||
| Q2 25 | — | 58.5% | ||
| Q1 25 | — | 61.4% | ||
| Q4 24 | — | 52.2% | ||
| Q3 24 | — | 55.8% | ||
| Q2 24 | — | 49.4% | ||
| Q1 24 | — | 59.3% |
| Q4 25 | -45.7% | 19.3% | ||
| Q3 25 | -70.8% | 27.2% | ||
| Q2 25 | -56.4% | 15.6% | ||
| Q1 25 | 81.8% | 19.3% | ||
| Q4 24 | -152.7% | 10.3% | ||
| Q3 24 | -51.7% | 21.2% | ||
| Q2 24 | -56.4% | 3.2% | ||
| Q1 24 | -58.8% | 15.3% |
| Q4 25 | -68.1% | 0.5% | ||
| Q3 25 | -74.4% | 19.4% | ||
| Q2 25 | -57.2% | 12.3% | ||
| Q1 25 | 125.0% | 2.7% | ||
| Q4 24 | -154.4% | 5.7% | ||
| Q3 24 | -51.6% | 15.2% | ||
| Q2 24 | -56.7% | 4.0% | ||
| Q1 24 | -60.9% | 4.1% |
| Q4 25 | $-1.04 | $0.02 | ||
| Q3 25 | $-1.38 | $0.37 | ||
| Q2 25 | $-0.73 | $0.20 | ||
| Q1 25 | $0.89 | $0.04 | ||
| Q4 24 | $-1.21 | $0.09 | ||
| Q3 24 | $-0.45 | $0.26 | ||
| Q2 24 | $-0.52 | $0.07 | ||
| Q1 24 | $-0.54 | $0.06 |
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 | $151.2M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $337.9M |
| Total Assets | $5.7B | $894.0M |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $151.2M | ||
| Q3 25 | $34.7M | $143.1M | ||
| Q2 25 | $33.6M | $109.3M | ||
| Q1 25 | $26.3M | $97.1M | ||
| Q4 24 | $27.8M | $100.6M | ||
| Q3 24 | $20.3M | $104.5M | ||
| Q2 24 | $33.1M | $91.6M | ||
| Q1 24 | $23.0M | $81.0M |
| 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 | $21.3M | $337.9M | ||
| Q3 25 | $181.1M | $349.5M | ||
| Q2 25 | $375.5M | $320.4M | ||
| Q1 25 | $476.2M | $299.5M | ||
| Q4 24 | $202.7M | $299.5M | ||
| Q3 24 | $370.8M | $289.4M | ||
| Q2 24 | $394.8M | $267.2M | ||
| Q1 24 | $402.5M | $258.8M |
| Q4 25 | $5.7B | $894.0M | ||
| Q3 25 | $5.5B | $889.6M | ||
| Q2 25 | $4.4B | $868.6M | ||
| Q1 25 | $4.1B | $848.3M | ||
| Q4 24 | $2.4B | $830.4M | ||
| Q3 24 | $2.4B | $847.6M | ||
| Q2 24 | $2.5B | $827.4M | ||
| Q1 24 | $2.3B | $824.1M |
| 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 | $29.4M |
| Free Cash FlowOCF − Capex | $-68.6M | $28.0M |
| FCF MarginFCF / Revenue | -47.8% | 22.3% |
| Capex IntensityCapex / Revenue | 45.9% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $29.4M | ||
| Q3 25 | $-24.4M | $67.5M | ||
| Q2 25 | $-5.2M | $23.2M | ||
| Q1 25 | $-85.7M | $7.0M | ||
| Q4 24 | $-8.1M | $11.5M | ||
| Q3 24 | $14.2M | $35.3M | ||
| Q2 24 | $-17.6M | $35.0M | ||
| Q1 24 | $-3.9M | $-11.0M |
| Q4 25 | $-68.6M | $28.0M | ||
| Q3 25 | $-90.7M | $64.8M | ||
| Q2 25 | $-87.5M | $20.9M | ||
| Q1 25 | $-151.7M | $5.3M | ||
| Q4 24 | $-34.3M | $6.9M | ||
| Q3 24 | $-11.7M | $34.2M | ||
| Q2 24 | $-32.1M | $33.5M | ||
| Q1 24 | $-16.7M | $-12.1M |
| Q4 25 | -47.8% | 22.3% | ||
| Q3 25 | -64.5% | 60.7% | ||
| Q2 25 | -71.6% | 22.8% | ||
| Q1 25 | -157.7% | 6.1% | ||
| Q4 24 | -42.4% | 7.4% | ||
| Q3 24 | -14.0% | 37.3% | ||
| Q2 24 | -37.9% | 37.6% | ||
| Q1 24 | -20.3% | -15.3% |
| Q4 25 | 45.9% | 1.1% | ||
| Q3 25 | 47.2% | 2.6% | ||
| Q2 25 | 67.3% | 2.6% | ||
| Q1 25 | 68.6% | 1.9% | ||
| Q4 24 | 32.5% | 5.0% | ||
| Q3 24 | 31.1% | 1.2% | ||
| Q2 24 | 17.2% | 1.8% | ||
| Q1 24 | 15.6% | 1.4% |
| Q4 25 | — | 46.11× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | -0.71× | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
