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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $143.5M, roughly 1.1× FTAI Infrastructure Inc.). CPI Card Group Inc. runs the higher net margin — 4.8% vs -68.1%, a 72.9% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 22.3%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 16.9%).
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.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
FIP vs PMTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $153.1M |
| Net Profit | $-97.7M | $7.3M |
| Gross Margin | — | 31.5% |
| Operating Margin | -45.7% | 12.0% |
| Net Margin | -68.1% | 4.8% |
| Revenue YoY | 77.7% | 22.3% |
| Net Profit YoY | 21.6% | 8.5% |
| EPS (diluted) | $-1.04 | $0.62 |
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 | $153.1M | ||
| Q3 25 | $140.6M | $138.0M | ||
| Q2 25 | $122.3M | $129.8M | ||
| Q1 25 | $96.2M | $122.8M | ||
| Q4 24 | $80.8M | $125.1M | ||
| Q3 24 | $83.3M | $124.8M | ||
| Q2 24 | $84.9M | $118.8M | ||
| Q1 24 | $82.5M | $111.9M |
| Q4 25 | $-97.7M | $7.3M | ||
| Q3 25 | $-104.5M | $2.3M | ||
| Q2 25 | $-70.0M | $518.0K | ||
| Q1 25 | $120.2M | $4.8M | ||
| Q4 24 | $-124.7M | $6.8M | ||
| Q3 24 | $-43.0M | $1.3M | ||
| Q2 24 | $-48.1M | $6.0M | ||
| Q1 24 | $-50.3M | $5.5M |
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | — | 30.9% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 37.1% |
| Q4 25 | -45.7% | 12.0% | ||
| Q3 25 | -70.8% | 9.4% | ||
| Q2 25 | -56.4% | 7.3% | ||
| Q1 25 | 81.8% | 11.5% | ||
| Q4 24 | -152.7% | 12.7% | ||
| Q3 24 | -51.7% | 14.3% | ||
| Q2 24 | -56.4% | 12.5% | ||
| Q1 24 | -58.8% | 12.6% |
| Q4 25 | -68.1% | 4.8% | ||
| Q3 25 | -74.4% | 1.7% | ||
| Q2 25 | -57.2% | 0.4% | ||
| Q1 25 | 125.0% | 3.9% | ||
| Q4 24 | -154.4% | 5.4% | ||
| Q3 24 | -51.6% | 1.0% | ||
| Q2 24 | -56.7% | 5.1% | ||
| Q1 24 | -60.9% | 4.9% |
| Q4 25 | $-1.04 | $0.62 | ||
| Q3 25 | $-1.38 | $0.19 | ||
| Q2 25 | $-0.73 | $0.04 | ||
| Q1 25 | $0.89 | $0.40 | ||
| Q4 24 | $-1.21 | $0.56 | ||
| Q3 24 | $-0.45 | $0.11 | ||
| Q2 24 | $-0.52 | $0.51 | ||
| Q1 24 | $-0.54 | $0.46 |
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 | $21.7M |
| Total DebtLower is stronger | $3.8B | $286.7M |
| Stockholders' EquityBook value | $21.3M | $-17.3M |
| Total Assets | $5.7B | $403.2M |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $21.7M | ||
| Q3 25 | $34.7M | $16.0M | ||
| Q2 25 | $33.6M | $17.1M | ||
| Q1 25 | $26.3M | $31.5M | ||
| Q4 24 | $27.8M | $33.5M | ||
| Q3 24 | $20.3M | $14.7M | ||
| Q2 24 | $33.1M | $7.5M | ||
| Q1 24 | $23.0M | $17.1M |
| Q4 25 | $3.8B | $286.7M | ||
| Q3 25 | $3.7B | $308.4M | ||
| Q2 25 | $3.1B | $310.9M | ||
| Q1 25 | $2.8B | $280.7M | ||
| Q4 24 | $1.6B | $280.4M | ||
| Q3 24 | $1.5B | $280.2M | ||
| Q2 24 | $1.6B | $269.7M | ||
| Q1 24 | $1.3B | $265.3M |
| Q4 25 | $21.3M | $-17.3M | ||
| Q3 25 | $181.1M | $-25.7M | ||
| Q2 25 | $375.5M | $-29.0M | ||
| Q1 25 | $476.2M | $-29.7M | ||
| Q4 24 | $202.7M | $-35.6M | ||
| Q3 24 | $370.8M | $-42.8M | ||
| Q2 24 | $394.8M | $-44.6M | ||
| Q1 24 | $402.5M | $-48.5M |
| Q4 25 | $5.7B | $403.2M | ||
| Q3 25 | $5.5B | $407.1M | ||
| Q2 25 | $4.4B | $399.8M | ||
| Q1 25 | $4.1B | $351.9M | ||
| Q4 24 | $2.4B | $349.7M | ||
| Q3 24 | $2.4B | $342.3M | ||
| Q2 24 | $2.5B | $321.4M | ||
| Q1 24 | $2.3B | $319.8M |
| 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 | $39.6M |
| Free Cash FlowOCF − Capex | $-68.6M | $35.2M |
| FCF MarginFCF / Revenue | -47.8% | 23.0% |
| Capex IntensityCapex / Revenue | 45.9% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $39.6M | ||
| Q3 25 | $-24.4M | $10.0M | ||
| Q2 25 | $-5.2M | $4.3M | ||
| Q1 25 | $-85.7M | $5.6M | ||
| Q4 24 | $-8.1M | $26.7M | ||
| Q3 24 | $14.2M | $12.5M | ||
| Q2 24 | $-17.6M | $-4.8M | ||
| Q1 24 | $-3.9M | $8.9M |
| Q4 25 | $-68.6M | $35.2M | ||
| Q3 25 | $-90.7M | $5.3M | ||
| Q2 25 | $-87.5M | $533.0K | ||
| Q1 25 | $-151.7M | $292.0K | ||
| Q4 24 | $-34.3M | $21.6M | ||
| Q3 24 | $-11.7M | $11.1M | ||
| Q2 24 | $-32.1M | $-6.0M | ||
| Q1 24 | $-16.7M | $7.4M |
| Q4 25 | -47.8% | 23.0% | ||
| Q3 25 | -64.5% | 3.8% | ||
| Q2 25 | -71.6% | 0.4% | ||
| Q1 25 | -157.7% | 0.2% | ||
| Q4 24 | -42.4% | 17.3% | ||
| Q3 24 | -14.0% | 8.9% | ||
| Q2 24 | -37.9% | -5.0% | ||
| Q1 24 | -20.3% | 6.6% |
| Q4 25 | 45.9% | 2.9% | ||
| Q3 25 | 47.2% | 3.4% | ||
| Q2 25 | 67.3% | 2.9% | ||
| Q1 25 | 68.6% | 4.3% | ||
| Q4 24 | 32.5% | 4.0% | ||
| Q3 24 | 31.1% | 1.2% | ||
| Q2 24 | 17.2% | 1.0% | ||
| Q1 24 | 15.6% | 1.3% |
| Q4 25 | — | 5.39× | ||
| Q3 25 | — | 4.32× | ||
| Q2 25 | — | 8.39× | ||
| Q1 25 | -0.71× | 1.17× | ||
| Q4 24 | — | 3.94× | ||
| Q3 24 | — | 9.70× | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
