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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and UNIVERSAL DISPLAY CORP \PA\ (OLED). Click either name above to swap in a different company.
UNIVERSAL DISPLAY CORP \PA\ is the larger business by last-quarter revenue ($172.9M vs $143.5M, roughly 1.2× FTAI Infrastructure Inc.). UNIVERSAL DISPLAY CORP \PA\ runs the higher net margin — 38.4% vs -68.1%, a 106.5% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 6.6%). UNIVERSAL DISPLAY CORP \PA\ produced more free cash flow last quarter ($15.1M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 2.3%).
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.
Universal Display Corporation is a developer and manufacturer of organic light emitting diode (OLED) technologies and materials, and it is a provider of services to the display and lighting industries.
FIP vs OLED — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $172.9M |
| Net Profit | $-97.7M | $66.3M |
| Gross Margin | — | 76.1% |
| Operating Margin | -45.7% | 38.9% |
| Net Margin | -68.1% | 38.4% |
| Revenue YoY | 77.7% | 6.6% |
| Net Profit YoY | 21.6% | 44.2% |
| EPS (diluted) | $-1.04 | $1.40 |
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 | $172.9M | ||
| Q3 25 | $140.6M | $139.6M | ||
| Q2 25 | $122.3M | $171.8M | ||
| Q1 25 | $96.2M | $166.3M | ||
| Q4 24 | $80.8M | $162.3M | ||
| Q3 24 | $83.3M | $161.6M | ||
| Q2 24 | $84.9M | $158.5M | ||
| Q1 24 | $82.5M | $165.3M |
| Q4 25 | $-97.7M | $66.3M | ||
| Q3 25 | $-104.5M | $44.0M | ||
| Q2 25 | $-70.0M | $67.3M | ||
| Q1 25 | $120.2M | $64.4M | ||
| Q4 24 | $-124.7M | $46.0M | ||
| Q3 24 | $-43.0M | $66.9M | ||
| Q2 24 | $-48.1M | $52.3M | ||
| Q1 24 | $-50.3M | $56.9M |
| Q4 25 | — | 76.1% | ||
| Q3 25 | — | 74.6% | ||
| Q2 25 | — | 77.2% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.0% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 75.8% | ||
| Q1 24 | — | 77.6% |
| Q4 25 | -45.7% | 38.9% | ||
| Q3 25 | -70.8% | 30.9% | ||
| Q2 25 | -56.4% | 39.9% | ||
| Q1 25 | 81.8% | 41.9% | ||
| Q4 24 | -152.7% | 32.3% | ||
| Q3 24 | -51.7% | 41.5% | ||
| Q2 24 | -56.4% | 35.6% | ||
| Q1 24 | -58.8% | 38.0% |
| Q4 25 | -68.1% | 38.4% | ||
| Q3 25 | -74.4% | 31.5% | ||
| Q2 25 | -57.2% | 39.2% | ||
| Q1 25 | 125.0% | 38.8% | ||
| Q4 24 | -154.4% | 28.4% | ||
| Q3 24 | -51.6% | 41.4% | ||
| Q2 24 | -56.7% | 33.0% | ||
| Q1 24 | -60.9% | 34.4% |
| Q4 25 | $-1.04 | $1.40 | ||
| Q3 25 | $-1.38 | $0.92 | ||
| Q2 25 | $-0.73 | $1.41 | ||
| Q1 25 | $0.89 | $1.35 | ||
| Q4 24 | $-1.21 | $0.96 | ||
| Q3 24 | $-0.45 | $1.40 | ||
| Q2 24 | $-0.52 | $1.10 | ||
| Q1 24 | $-0.54 | $1.19 |
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 | $602.4M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $1.8B |
| Total Assets | $5.7B | $2.0B |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $602.4M | ||
| Q3 25 | $34.7M | $603.0M | ||
| Q2 25 | $33.6M | $525.2M | ||
| Q1 25 | $26.3M | $571.3M | ||
| Q4 24 | $27.8M | $492.7M | ||
| Q3 24 | $20.3M | $551.6M | ||
| Q2 24 | $33.1M | $530.5M | ||
| Q1 24 | $23.0M | $539.3M |
| 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 | $1.8B | ||
| Q3 25 | $181.1M | $1.7B | ||
| Q2 25 | $375.5M | $1.7B | ||
| Q1 25 | $476.2M | $1.7B | ||
| Q4 24 | $202.7M | $1.6B | ||
| Q3 24 | $370.8M | $1.6B | ||
| Q2 24 | $394.8M | $1.5B | ||
| Q1 24 | $402.5M | $1.5B |
| Q4 25 | $5.7B | $2.0B | ||
| Q3 25 | $5.5B | $1.9B | ||
| Q2 25 | $4.4B | $1.9B | ||
| Q1 25 | $4.1B | $1.9B | ||
| Q4 24 | $2.4B | $1.8B | ||
| Q3 24 | $2.4B | $1.8B | ||
| Q2 24 | $2.5B | $1.8B | ||
| Q1 24 | $2.3B | $1.7B |
| 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 | $31.1M |
| Free Cash FlowOCF − Capex | $-68.6M | $15.1M |
| FCF MarginFCF / Revenue | -47.8% | 8.7% |
| Capex IntensityCapex / Revenue | 45.9% | 9.3% |
| Cash ConversionOCF / Net Profit | — | 0.47× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $154.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $31.1M | ||
| Q3 25 | $-24.4M | $97.2M | ||
| Q2 25 | $-5.2M | $51.9M | ||
| Q1 25 | $-85.7M | $30.6M | ||
| Q4 24 | $-8.1M | $34.7M | ||
| Q3 24 | $14.2M | $79.9M | ||
| Q2 24 | $-17.6M | $67.0M | ||
| Q1 24 | $-3.9M | $72.2M |
| Q4 25 | $-68.6M | $15.1M | ||
| Q3 25 | $-90.7M | $84.3M | ||
| Q2 25 | $-87.5M | $37.5M | ||
| Q1 25 | $-151.7M | $17.5M | ||
| Q4 24 | $-34.3M | $22.0M | ||
| Q3 24 | $-11.7M | $66.2M | ||
| Q2 24 | $-32.1M | $57.9M | ||
| Q1 24 | $-16.7M | $65.0M |
| Q4 25 | -47.8% | 8.7% | ||
| Q3 25 | -64.5% | 60.4% | ||
| Q2 25 | -71.6% | 21.8% | ||
| Q1 25 | -157.7% | 10.5% | ||
| Q4 24 | -42.4% | 13.6% | ||
| Q3 24 | -14.0% | 41.0% | ||
| Q2 24 | -37.9% | 36.5% | ||
| Q1 24 | -20.3% | 39.3% |
| Q4 25 | 45.9% | 9.3% | ||
| Q3 25 | 47.2% | 9.2% | ||
| Q2 25 | 67.3% | 8.4% | ||
| Q1 25 | 68.6% | 7.9% | ||
| Q4 24 | 32.5% | 7.8% | ||
| Q3 24 | 31.1% | 8.4% | ||
| Q2 24 | 17.2% | 5.8% | ||
| Q1 24 | 15.6% | 4.4% |
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | -0.71× | 0.47× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.27× |
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% |
OLED
| Material Sales | $95.5M | 55% |
| Other | $72.6M | 42% |
| Contract Research Services | $4.8M | 3% |
