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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
FTAI Infrastructure Inc. is the larger business by last-quarter revenue ($143.5M vs $120.6M, roughly 1.2× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -68.1%, a 116.2% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs -11.0%). Kennedy-Wilson Holdings, Inc. produced more free cash flow last quarter ($-55.2M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs -6.0%).
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.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
FIP vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $120.6M |
| Net Profit | $-97.7M | $58.0M |
| Gross Margin | — | — |
| Operating Margin | -45.7% | 57.3% |
| Net Margin | -68.1% | 48.1% |
| Revenue YoY | 77.7% | -11.0% |
| Net Profit YoY | 21.6% | 32.7% |
| EPS (diluted) | $-1.04 | $0.22 |
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 | $120.6M | ||
| Q3 25 | $140.6M | $116.4M | ||
| Q2 25 | $122.3M | $135.7M | ||
| Q1 25 | $96.2M | $128.3M | ||
| Q4 24 | $80.8M | $135.5M | ||
| Q3 24 | $83.3M | $127.5M | ||
| Q2 24 | $84.9M | $132.0M | ||
| Q1 24 | $82.5M | $136.4M |
| Q4 25 | $-97.7M | $58.0M | ||
| Q3 25 | $-104.5M | $-10.2M | ||
| Q2 25 | $-70.0M | $5.6M | ||
| Q1 25 | $120.2M | $-29.6M | ||
| Q4 24 | $-124.7M | $43.7M | ||
| Q3 24 | $-43.0M | $-66.8M | ||
| Q2 24 | $-48.1M | $-48.3M | ||
| Q1 24 | $-50.3M | $37.7M |
| Q4 25 | -45.7% | 57.3% | ||
| Q3 25 | -70.8% | -6.2% | ||
| Q2 25 | -56.4% | 7.4% | ||
| Q1 25 | 81.8% | -26.9% | ||
| Q4 24 | -152.7% | 36.7% | ||
| Q3 24 | -51.7% | -60.8% | ||
| Q2 24 | -56.4% | -45.5% | ||
| Q1 24 | -58.8% | 47.2% |
| Q4 25 | -68.1% | 48.1% | ||
| Q3 25 | -74.4% | -8.8% | ||
| Q2 25 | -57.2% | 4.1% | ||
| Q1 25 | 125.0% | -23.1% | ||
| Q4 24 | -154.4% | 32.3% | ||
| Q3 24 | -51.6% | -52.4% | ||
| Q2 24 | -56.7% | -36.6% | ||
| Q1 24 | -60.9% | 27.6% |
| Q4 25 | $-1.04 | $0.22 | ||
| Q3 25 | $-1.38 | $-0.15 | ||
| Q2 25 | $-0.73 | $-0.05 | ||
| Q1 25 | $0.89 | $-0.30 | ||
| Q4 24 | $-1.21 | $0.24 | ||
| Q3 24 | $-0.45 | $-0.56 | ||
| Q2 24 | $-0.52 | $-0.43 | ||
| Q1 24 | $-0.54 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $1.5B |
| Total Assets | $5.7B | $6.6B |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $184.5M | ||
| Q3 25 | $34.7M | $382.6M | ||
| Q2 25 | $33.6M | $309.1M | ||
| Q1 25 | $26.3M | $356.6M | ||
| Q4 24 | $27.8M | $217.5M | ||
| Q3 24 | $20.3M | $367.1M | ||
| Q2 24 | $33.1M | $366.5M | ||
| Q1 24 | $23.0M | $541.9M |
| 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 | $1.5B | ||
| Q3 25 | $181.1M | $1.5B | ||
| Q2 25 | $375.5M | $1.6B | ||
| Q1 25 | $476.2M | $1.6B | ||
| Q4 24 | $202.7M | $1.6B | ||
| Q3 24 | $370.8M | $1.6B | ||
| Q2 24 | $394.8M | $1.7B | ||
| Q1 24 | $402.5M | $1.7B |
| Q4 25 | $5.7B | $6.6B | ||
| Q3 25 | $5.5B | $6.7B | ||
| Q2 25 | $4.4B | $6.8B | ||
| Q1 25 | $4.1B | $7.2B | ||
| Q4 24 | $2.4B | $7.0B | ||
| Q3 24 | $2.4B | $7.4B | ||
| Q2 24 | $2.5B | $7.5B | ||
| Q1 24 | $2.3B | $7.7B |
| 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 | $11.4M |
| Free Cash FlowOCF − Capex | $-68.6M | $-55.2M |
| FCF MarginFCF / Revenue | -47.8% | -45.8% |
| Capex IntensityCapex / Revenue | 45.9% | 55.2% |
| Cash ConversionOCF / Net Profit | — | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $11.4M | ||
| Q3 25 | $-24.4M | $-7.6M | ||
| Q2 25 | $-5.2M | $42.0M | ||
| Q1 25 | $-85.7M | $-51.9M | ||
| Q4 24 | $-8.1M | $55.1M | ||
| Q3 24 | $14.2M | $-5.6M | ||
| Q2 24 | $-17.6M | $36.7M | ||
| Q1 24 | $-3.9M | $-5.6M |
| Q4 25 | $-68.6M | $-55.2M | ||
| Q3 25 | $-90.7M | $-18.0M | ||
| Q2 25 | $-87.5M | $29.4M | ||
| Q1 25 | $-151.7M | $-59.7M | ||
| Q4 24 | $-34.3M | $-76.5M | ||
| Q3 24 | $-11.7M | $-27.7M | ||
| Q2 24 | $-32.1M | $-500.0K | ||
| Q1 24 | $-16.7M | $-57.1M |
| Q4 25 | -47.8% | -45.8% | ||
| Q3 25 | -64.5% | -15.5% | ||
| Q2 25 | -71.6% | 21.7% | ||
| Q1 25 | -157.7% | -46.5% | ||
| Q4 24 | -42.4% | -56.5% | ||
| Q3 24 | -14.0% | -21.7% | ||
| Q2 24 | -37.9% | -0.4% | ||
| Q1 24 | -20.3% | -41.9% |
| Q4 25 | 45.9% | 55.2% | ||
| Q3 25 | 47.2% | 8.9% | ||
| Q2 25 | 67.3% | 9.3% | ||
| Q1 25 | 68.6% | 6.1% | ||
| Q4 24 | 32.5% | 97.1% | ||
| Q3 24 | 31.1% | 17.3% | ||
| Q2 24 | 17.2% | 28.2% | ||
| Q1 24 | 15.6% | 37.8% |
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 7.50× | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.15× |
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% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
