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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
Metallus Inc. is the larger business by last-quarter revenue ($267.3M vs $143.5M, roughly 1.9× FTAI Infrastructure Inc.). Metallus Inc. runs the higher net margin — -5.3% vs -68.1%, a 62.7% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 11.1%). Metallus Inc. produced more free cash flow last quarter ($-37.2M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs -8.8%).
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.
FIP vs MTUS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $267.3M |
| Net Profit | $-97.7M | $-14.3M |
| Gross Margin | — | 2.2% |
| Operating Margin | -45.7% | -7.7% |
| Net Margin | -68.1% | -5.3% |
| Revenue YoY | 77.7% | 11.1% |
| Net Profit YoY | 21.6% | 33.2% |
| EPS (diluted) | $-1.04 | $-0.34 |
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 | $267.3M | ||
| Q3 25 | $140.6M | $305.9M | ||
| Q2 25 | $122.3M | $304.6M | ||
| Q1 25 | $96.2M | $280.5M | ||
| Q4 24 | $80.8M | $240.5M | ||
| Q3 24 | $83.3M | $227.2M | ||
| Q2 24 | $84.9M | $294.7M | ||
| Q1 24 | $82.5M | $321.6M |
| Q4 25 | $-97.7M | $-14.3M | ||
| Q3 25 | $-104.5M | $8.1M | ||
| Q2 25 | $-70.0M | $3.7M | ||
| Q1 25 | $120.2M | $1.3M | ||
| Q4 24 | $-124.7M | $-21.4M | ||
| Q3 24 | $-43.0M | $-5.9M | ||
| Q2 24 | $-48.1M | $4.6M | ||
| Q1 24 | $-50.3M | $24.0M |
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 8.2% | ||
| Q1 24 | — | 15.7% |
| Q4 25 | -45.7% | -7.7% | ||
| Q3 25 | -70.8% | 3.6% | ||
| Q2 25 | -56.4% | 2.8% | ||
| Q1 25 | 81.8% | 1.0% | ||
| Q4 24 | -152.7% | -10.1% | ||
| Q3 24 | -51.7% | -3.1% | ||
| Q2 24 | -56.4% | 2.1% | ||
| Q1 24 | -58.8% | 9.3% |
| Q4 25 | -68.1% | -5.3% | ||
| Q3 25 | -74.4% | 2.6% | ||
| Q2 25 | -57.2% | 1.2% | ||
| Q1 25 | 125.0% | 0.5% | ||
| Q4 24 | -154.4% | -8.9% | ||
| Q3 24 | -51.6% | -2.6% | ||
| Q2 24 | -56.7% | 1.6% | ||
| Q1 24 | -60.9% | 7.5% |
| Q4 25 | $-1.04 | $-0.34 | ||
| Q3 25 | $-1.38 | $0.19 | ||
| Q2 25 | $-0.73 | $0.09 | ||
| Q1 25 | $0.89 | $0.03 | ||
| Q4 24 | $-1.21 | $-0.46 | ||
| Q3 24 | $-0.45 | $-0.13 | ||
| Q2 24 | $-0.52 | $0.10 | ||
| Q1 24 | $-0.54 | $0.52 |
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 | $156.7M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $686.0M |
| Total Assets | $5.7B | $1.1B |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $156.7M | ||
| Q3 25 | $34.7M | $191.5M | ||
| Q2 25 | $33.6M | $190.8M | ||
| Q1 25 | $26.3M | $180.3M | ||
| Q4 24 | $27.8M | $240.7M | ||
| Q3 24 | $20.3M | $254.6M | ||
| Q2 24 | $33.1M | $272.8M | ||
| Q1 24 | $23.0M | $278.1M |
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.7B | $0 | ||
| Q2 25 | $3.1B | $0 | ||
| Q1 25 | $2.8B | $5.4M | ||
| Q4 24 | $1.6B | $5.4M | ||
| Q3 24 | $1.5B | $13.2M | ||
| Q2 24 | $1.6B | $13.2M | ||
| Q1 24 | $1.3B | $13.2M |
| Q4 25 | $21.3M | $686.0M | ||
| Q3 25 | $181.1M | $697.7M | ||
| Q2 25 | $375.5M | $690.0M | ||
| Q1 25 | $476.2M | $686.1M | ||
| Q4 24 | $202.7M | $690.5M | ||
| Q3 24 | $370.8M | $712.7M | ||
| Q2 24 | $394.8M | $736.3M | ||
| Q1 24 | $402.5M | $739.3M |
| Q4 25 | $5.7B | $1.1B | ||
| Q3 25 | $5.5B | $1.2B | ||
| Q2 25 | $4.4B | $1.1B | ||
| Q1 25 | $4.1B | $1.1B | ||
| Q4 24 | $2.4B | $1.1B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.5B | $1.1B | ||
| Q1 24 | $2.3B | $1.2B |
| Q4 25 | 176.99× | — | ||
| Q3 25 | 20.59× | 0.00× | ||
| Q2 25 | 8.21× | 0.00× | ||
| Q1 25 | 5.79× | 0.01× | ||
| Q4 24 | 7.84× | 0.01× | ||
| Q3 24 | 4.14× | 0.02× | ||
| Q2 24 | 3.94× | 0.02× | ||
| Q1 24 | 3.34× | 0.02× |
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 | $-1.9M |
| Free Cash FlowOCF − Capex | $-68.6M | $-37.2M |
| FCF MarginFCF / Revenue | -47.8% | -13.9% |
| Capex IntensityCapex / Revenue | 45.9% | 13.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $-93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $-1.9M | ||
| Q3 25 | $-24.4M | $22.0M | ||
| Q2 25 | $-5.2M | $34.8M | ||
| Q1 25 | $-85.7M | $-38.9M | ||
| Q4 24 | $-8.1M | $13.9M | ||
| Q3 24 | $14.2M | $-15.3M | ||
| Q2 24 | $-17.6M | $8.3M | ||
| Q1 24 | $-3.9M | $33.4M |
| Q4 25 | $-68.6M | $-37.2M | ||
| Q3 25 | $-90.7M | $-6.4M | ||
| Q2 25 | $-87.5M | $17.0M | ||
| Q1 25 | $-151.7M | $-66.4M | ||
| Q4 24 | $-34.3M | $-1.3M | ||
| Q3 24 | $-11.7M | $-32.9M | ||
| Q2 24 | $-32.1M | $-5.8M | ||
| Q1 24 | $-16.7M | $16.0M |
| Q4 25 | -47.8% | -13.9% | ||
| Q3 25 | -64.5% | -2.1% | ||
| Q2 25 | -71.6% | 5.6% | ||
| Q1 25 | -157.7% | -23.7% | ||
| Q4 24 | -42.4% | -0.5% | ||
| Q3 24 | -14.0% | -14.5% | ||
| Q2 24 | -37.9% | -2.0% | ||
| Q1 24 | -20.3% | 5.0% |
| Q4 25 | 45.9% | 13.2% | ||
| Q3 25 | 47.2% | 9.3% | ||
| Q2 25 | 67.3% | 5.8% | ||
| Q1 25 | 68.6% | 9.8% | ||
| Q4 24 | 32.5% | 6.3% | ||
| Q3 24 | 31.1% | 7.7% | ||
| Q2 24 | 17.2% | 4.8% | ||
| Q1 24 | 15.6% | 5.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 9.41× | ||
| Q1 25 | -0.71× | -29.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.80× | ||
| Q1 24 | — | 1.39× |
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% |
MTUS
| Industrial Market Sector | $95.3M | 36% |
| Manufactured Components | $67.8M | 25% |
| Aerospace And Defense | $39.6M | 15% |
| Seamless Mechanical Tubing | $31.3M | 12% |
| Energy Market Sector | $18.3M | 7% |
| Other | $11.3M | 4% |
| Other Market Sector | $3.7M | 1% |
