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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $188.4M, roughly 1.7× FTAI Infrastructure Inc.). FTAI Infrastructure Inc. runs the higher net margin — -79.7% vs -259.7%, a 179.9% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (95.9% vs -7.0%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (49.0% CAGR vs -26.8%).
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.
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
FIP vs NFE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $188.4M | $326.2M |
| Net Profit | $-150.2M | $-847.1M |
| Gross Margin | — | 35.5% |
| Operating Margin | — | -193.0% |
| Net Margin | -79.7% | -259.7% |
| Revenue YoY | 95.9% | -7.0% |
| Net Profit YoY | -387.6% | -277.4% |
| EPS (diluted) | $-1.32 | $-3.03 |
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.
| Q1 26 | $188.4M | — | ||
| Q4 25 | $143.5M | $326.2M | ||
| Q3 25 | $140.6M | $240.3M | ||
| Q2 25 | $122.3M | $228.1M | ||
| Q1 25 | $96.2M | $384.9M | ||
| Q4 24 | $80.8M | $350.7M | ||
| Q3 24 | $83.3M | $446.0M | ||
| Q2 24 | $84.9M | $291.2M |
| Q1 26 | $-150.2M | — | ||
| Q4 25 | $-97.7M | $-847.1M | ||
| Q3 25 | $-104.5M | $-263.0M | ||
| Q2 25 | $-70.0M | $-546.5M | ||
| Q1 25 | $120.2M | $-175.4M | ||
| Q4 24 | $-124.7M | $-224.4M | ||
| Q3 24 | $-43.0M | $9.3M | ||
| Q2 24 | $-48.1M | $-88.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 21.4% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 23.8% |
| Q1 26 | — | — | ||
| Q4 25 | -45.7% | -193.0% | ||
| Q3 25 | -70.8% | -37.4% | ||
| Q2 25 | -56.4% | -170.3% | ||
| Q1 25 | 81.8% | -3.3% | ||
| Q4 24 | -152.7% | 65.0% | ||
| Q3 24 | -51.7% | 17.8% | ||
| Q2 24 | -56.4% | 12.3% |
| Q1 26 | -79.7% | — | ||
| Q4 25 | -68.1% | -259.7% | ||
| Q3 25 | -74.4% | -109.4% | ||
| Q2 25 | -57.2% | -239.6% | ||
| Q1 25 | 125.0% | -45.6% | ||
| Q4 24 | -154.4% | -64.0% | ||
| Q3 24 | -51.6% | 2.1% | ||
| Q2 24 | -56.7% | -30.5% |
| Q1 26 | $-1.32 | — | ||
| Q4 25 | $-1.04 | $-3.03 | ||
| Q3 25 | $-1.38 | $-0.96 | ||
| Q2 25 | $-0.73 | $-1.99 | ||
| Q1 25 | $0.89 | $-0.65 | ||
| Q4 24 | $-1.21 | $-1.10 | ||
| Q3 24 | $-0.45 | $0.03 | ||
| Q2 24 | $-0.52 | $-0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $37.9M | $226.5M |
| Total DebtLower is stronger | — | $8.2B |
| Stockholders' EquityBook value | $-122.5K | $182.6M |
| Total Assets | $5.7B | $10.6B |
| Debt / EquityLower = less leverage | — | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $37.9M | — | ||
| Q4 25 | $57.4M | $226.5M | ||
| Q3 25 | $34.7M | $145.2M | ||
| Q2 25 | $33.6M | $551.1M | ||
| Q1 25 | $26.3M | $447.9M | ||
| Q4 24 | $27.8M | $492.9M | ||
| Q3 24 | $20.3M | $90.8M | ||
| Q2 24 | $33.1M | $133.0M |
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | $8.2B | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.6B | $8.9B | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.6B | — |
| Q1 26 | $-122.5K | — | ||
| Q4 25 | $21.3M | $182.6M | ||
| Q3 25 | $181.1M | $1.1B | ||
| Q2 25 | $375.5M | $1.3B | ||
| Q1 25 | $476.2M | $1.8B | ||
| Q4 24 | $202.7M | $1.9B | ||
| Q3 24 | $370.8M | $1.6B | ||
| Q2 24 | $394.8M | $1.6B |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.7B | $10.6B | ||
| Q3 25 | $5.5B | $12.0B | ||
| Q2 25 | $4.4B | $12.0B | ||
| Q1 25 | $4.1B | $13.1B | ||
| Q4 24 | $2.4B | $12.9B | ||
| Q3 24 | $2.4B | $12.0B | ||
| Q2 24 | $2.5B | $11.4B |
| Q1 26 | — | — | ||
| Q4 25 | 176.99× | 44.78× | ||
| Q3 25 | 20.59× | — | ||
| Q2 25 | 8.21× | — | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 7.84× | 4.74× | ||
| Q3 24 | 4.14× | — | ||
| Q2 24 | 3.94× | — |
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 | $-69.4M | $-76.2M |
| Free Cash FlowOCF − Capex | — | $-134.8M |
| FCF MarginFCF / Revenue | — | -41.3% |
| Capex IntensityCapex / Revenue | — | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-69.4M | — | ||
| Q4 25 | $-2.8M | $-76.2M | ||
| Q3 25 | $-24.4M | $-171.0M | ||
| Q2 25 | $-5.2M | $-329.0M | ||
| Q1 25 | $-85.7M | $-7.2M | ||
| Q4 24 | $-8.1M | $445.3M | ||
| Q3 24 | $14.2M | $-20.0M | ||
| Q2 24 | $-17.6M | $113.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-68.6M | $-134.8M | ||
| Q3 25 | $-90.7M | $-231.6M | ||
| Q2 25 | $-87.5M | $-726.7M | ||
| Q1 25 | $-151.7M | $-262.3M | ||
| Q4 24 | $-34.3M | $-210.3M | ||
| Q3 24 | $-11.7M | $-367.0M | ||
| Q2 24 | $-32.1M | $-493.2M |
| Q1 26 | — | — | ||
| Q4 25 | -47.8% | -41.3% | ||
| Q3 25 | -64.5% | -96.4% | ||
| Q2 25 | -71.6% | -318.6% | ||
| Q1 25 | -157.7% | -68.2% | ||
| Q4 24 | -42.4% | -60.0% | ||
| Q3 24 | -14.0% | -82.3% | ||
| Q2 24 | -37.9% | -169.3% |
| Q1 26 | — | — | ||
| Q4 25 | 45.9% | 18.0% | ||
| Q3 25 | 47.2% | 25.2% | ||
| Q2 25 | 67.3% | 174.4% | ||
| Q1 25 | 68.6% | 66.3% | ||
| Q4 24 | 32.5% | 187.0% | ||
| Q3 24 | 31.1% | 77.8% | ||
| Q2 24 | 17.2% | 208.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -2.15× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
