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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and LiveRamp Holdings, Inc. (RAMP). Click either name above to swap in a different company.
LiveRamp Holdings, Inc. is the larger business by last-quarter revenue ($212.2M vs $143.5M, roughly 1.5× FTAI Infrastructure Inc.). LiveRamp Holdings, Inc. runs the higher net margin — 18.8% vs -68.1%, a 86.9% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 8.6%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 11.1%).
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.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
FIP vs RAMP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $212.2M |
| Net Profit | $-97.7M | $39.9M |
| Gross Margin | — | 71.9% |
| Operating Margin | -45.7% | 18.6% |
| Net Margin | -68.1% | 18.8% |
| Revenue YoY | 77.7% | 8.6% |
| Net Profit YoY | 21.6% | 255.7% |
| 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 | $212.2M | ||
| Q3 25 | $140.6M | $199.8M | ||
| Q2 25 | $122.3M | $194.8M | ||
| Q1 25 | $96.2M | $188.7M | ||
| Q4 24 | $80.8M | $195.4M | ||
| Q3 24 | $83.3M | $185.5M | ||
| Q2 24 | $84.9M | $176.0M | ||
| Q1 24 | $82.5M | $171.9M |
| Q4 25 | $-97.7M | $39.9M | ||
| Q3 25 | $-104.5M | $27.4M | ||
| Q2 25 | $-70.0M | $7.7M | ||
| Q1 25 | $120.2M | $-6.3M | ||
| Q4 24 | $-124.7M | $11.2M | ||
| Q3 24 | $-43.0M | $1.7M | ||
| Q2 24 | $-48.1M | $-7.5M | ||
| Q1 24 | $-50.3M | $-5.4M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
| Q4 25 | -45.7% | 18.6% | ||
| Q3 25 | -70.8% | 10.7% | ||
| Q2 25 | -56.4% | 3.7% | ||
| Q1 25 | 81.8% | -6.1% | ||
| Q4 24 | -152.7% | 7.5% | ||
| Q3 24 | -51.7% | 4.0% | ||
| Q2 24 | -56.4% | -3.0% | ||
| Q1 24 | -58.8% | -8.3% |
| Q4 25 | -68.1% | 18.8% | ||
| Q3 25 | -74.4% | 13.7% | ||
| Q2 25 | -57.2% | 4.0% | ||
| Q1 25 | 125.0% | -3.3% | ||
| Q4 24 | -154.4% | 5.7% | ||
| Q3 24 | -51.6% | 0.9% | ||
| Q2 24 | -56.7% | -4.3% | ||
| Q1 24 | -60.9% | -3.1% |
| Q4 25 | $-1.04 | $0.62 | ||
| Q3 25 | $-1.38 | $0.42 | ||
| Q2 25 | $-0.73 | $0.12 | ||
| Q1 25 | $0.89 | $-0.10 | ||
| Q4 24 | $-1.21 | $0.17 | ||
| Q3 24 | $-0.45 | $0.03 | ||
| Q2 24 | $-0.52 | $-0.11 | ||
| Q1 24 | $-0.54 | $-0.09 |
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 | $403.4M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $962.3M |
| Total Assets | $5.7B | $1.3B |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $403.4M | ||
| Q3 25 | $34.7M | $376.9M | ||
| Q2 25 | $33.6M | $371.1M | ||
| Q1 25 | $26.3M | $420.8M | ||
| Q4 24 | $27.8M | $384.3M | ||
| Q3 24 | $20.3M | $348.4M | ||
| Q2 24 | $33.1M | $342.7M | ||
| Q1 24 | $23.0M | $368.9M |
| 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 | $962.3M | ||
| Q3 25 | $181.1M | $943.8M | ||
| Q2 25 | $375.5M | $947.8M | ||
| Q1 25 | $476.2M | $948.9M | ||
| Q4 24 | $202.7M | $957.7M | ||
| Q3 24 | $370.8M | $932.1M | ||
| Q2 24 | $394.8M | $951.9M | ||
| Q1 24 | $402.5M | $949.1M |
| Q4 25 | $5.7B | $1.3B | ||
| Q3 25 | $5.5B | $1.2B | ||
| Q2 25 | $4.4B | $1.2B | ||
| Q1 25 | $4.1B | $1.3B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.4B | $1.2B | ||
| Q2 24 | $2.5B | $1.2B | ||
| Q1 24 | $2.3B | $1.2B |
| 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 | — |
| Free Cash FlowOCF − Capex | $-68.6M | — |
| FCF MarginFCF / Revenue | -47.8% | — |
| Capex IntensityCapex / Revenue | 45.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | — | ||
| Q3 25 | $-24.4M | $57.4M | ||
| Q2 25 | $-5.2M | $-15.8M | ||
| Q1 25 | $-85.7M | — | ||
| Q4 24 | $-8.1M | $45.1M | ||
| Q3 24 | $14.2M | $55.6M | ||
| Q2 24 | $-17.6M | $-9.3M | ||
| Q1 24 | $-3.9M | — |
| Q4 25 | $-68.6M | — | ||
| Q3 25 | $-90.7M | $56.8M | ||
| Q2 25 | $-87.5M | $-16.2M | ||
| Q1 25 | $-151.7M | — | ||
| Q4 24 | $-34.3M | $44.8M | ||
| Q3 24 | $-11.7M | $55.4M | ||
| Q2 24 | $-32.1M | $-9.6M | ||
| Q1 24 | $-16.7M | — |
| Q4 25 | -47.8% | — | ||
| Q3 25 | -64.5% | 28.4% | ||
| Q2 25 | -71.6% | -8.3% | ||
| Q1 25 | -157.7% | — | ||
| Q4 24 | -42.4% | 22.9% | ||
| Q3 24 | -14.0% | 29.8% | ||
| Q2 24 | -37.9% | -5.4% | ||
| Q1 24 | -20.3% | — |
| Q4 25 | 45.9% | 0.1% | ||
| Q3 25 | 47.2% | 0.3% | ||
| Q2 25 | 67.3% | 0.2% | ||
| Q1 25 | 68.6% | 0.2% | ||
| Q4 24 | 32.5% | 0.1% | ||
| Q3 24 | 31.1% | 0.1% | ||
| Q2 24 | 17.2% | 0.1% | ||
| Q1 24 | 15.6% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RAMP
Segment breakdown not available.
