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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $143.5M, roughly 1.7× FTAI Infrastructure Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs -68.1%, a 78.7% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 2.4%). Tecnoglass Inc. produced more free cash flow last quarter ($11.4M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 12.8%).
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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
FIP vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $245.3M |
| Net Profit | $-97.7M | $26.1M |
| Gross Margin | — | 40.0% |
| Operating Margin | -45.7% | 18.3% |
| Net Margin | -68.1% | 10.6% |
| Revenue YoY | 77.7% | 2.4% |
| Net Profit YoY | 21.6% | -44.5% |
| EPS (diluted) | $-1.04 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $140.6M | $260.5M | ||
| Q2 25 | $122.3M | $255.5M | ||
| Q1 25 | $96.2M | $222.3M | ||
| Q4 24 | $80.8M | $239.6M | ||
| Q3 24 | $83.3M | $238.3M | ||
| Q2 24 | $84.9M | $219.7M | ||
| Q1 24 | $82.5M | $192.6M |
| Q4 25 | $-97.7M | $26.1M | ||
| Q3 25 | $-104.5M | $47.2M | ||
| Q2 25 | $-70.0M | $44.1M | ||
| Q1 25 | $120.2M | $42.2M | ||
| Q4 24 | $-124.7M | $47.0M | ||
| Q3 24 | $-43.0M | $49.5M | ||
| Q2 24 | $-48.1M | $35.0M | ||
| Q1 24 | $-50.3M | $29.7M |
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
| Q4 25 | -45.7% | 18.3% | ||
| Q3 25 | -70.8% | 25.1% | ||
| Q2 25 | -56.4% | 24.0% | ||
| Q1 25 | 81.8% | 26.7% | ||
| Q4 24 | -152.7% | 28.0% | ||
| Q3 24 | -51.7% | 28.4% | ||
| Q2 24 | -56.4% | 23.3% | ||
| Q1 24 | -58.8% | 21.3% |
| Q4 25 | -68.1% | 10.6% | ||
| Q3 25 | -74.4% | 18.1% | ||
| Q2 25 | -57.2% | 17.3% | ||
| Q1 25 | 125.0% | 19.0% | ||
| Q4 24 | -154.4% | 19.6% | ||
| Q3 24 | -51.6% | 20.8% | ||
| Q2 24 | -56.7% | 15.9% | ||
| Q1 24 | -60.9% | 15.4% |
| Q4 25 | $-1.04 | $0.57 | ||
| Q3 25 | $-1.38 | $1.01 | ||
| Q2 25 | $-0.73 | $0.94 | ||
| Q1 25 | $0.89 | $0.90 | ||
| Q4 24 | $-1.21 | $1.00 | ||
| Q3 24 | $-0.45 | $1.05 | ||
| Q2 24 | $-0.52 | $0.75 | ||
| Q1 24 | $-0.54 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | $3.8B | $174.4M |
| Stockholders' EquityBook value | $21.3M | $713.1M |
| Total Assets | $5.7B | $1.3B |
| Debt / EquityLower = less leverage | 176.99× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $104.1M | ||
| Q3 25 | $34.7M | $127.1M | ||
| Q2 25 | $33.6M | $140.9M | ||
| Q1 25 | $26.3M | $160.2M | ||
| Q4 24 | $27.8M | $137.5M | ||
| Q3 24 | $20.3M | $124.8M | ||
| Q2 24 | $33.1M | $129.5M | ||
| Q1 24 | $23.0M | $138.8M |
| Q4 25 | $3.8B | $174.4M | ||
| Q3 25 | $3.7B | $114.7M | ||
| Q2 25 | $3.1B | $110.6M | ||
| Q1 25 | $2.8B | $110.6M | ||
| Q4 24 | $1.6B | $111.1M | ||
| Q3 24 | $1.5B | $126.8M | ||
| Q2 24 | $1.6B | $144.7M | ||
| Q1 24 | $1.3B | $160.9M |
| Q4 25 | $21.3M | $713.1M | ||
| Q3 25 | $181.1M | $764.0M | ||
| Q2 25 | $375.5M | $736.0M | ||
| Q1 25 | $476.2M | $685.1M | ||
| Q4 24 | $202.7M | $631.2M | ||
| Q3 24 | $370.8M | $613.3M | ||
| Q2 24 | $394.8M | $574.8M | ||
| Q1 24 | $402.5M | $573.6M |
| Q4 25 | $5.7B | $1.3B | ||
| Q3 25 | $5.5B | $1.2B | ||
| Q2 25 | $4.4B | $1.2B | ||
| Q1 25 | $4.1B | $1.1B | ||
| Q4 24 | $2.4B | $1.0B | ||
| Q3 24 | $2.4B | $996.3M | ||
| Q2 24 | $2.5B | $942.5M | ||
| Q1 24 | $2.3B | $981.6M |
| Q4 25 | 176.99× | 0.24× | ||
| Q3 25 | 20.59× | 0.15× | ||
| Q2 25 | 8.21× | 0.15× | ||
| Q1 25 | 5.79× | 0.16× | ||
| Q4 24 | 7.84× | 0.18× | ||
| Q3 24 | 4.14× | 0.21× | ||
| Q2 24 | 3.94× | 0.25× | ||
| Q1 24 | 3.34× | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $-68.6M | $11.4M |
| FCF MarginFCF / Revenue | -47.8% | 4.7% |
| Capex IntensityCapex / Revenue | 45.9% | 8.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $31.0M | ||
| Q3 25 | $-24.4M | $40.0M | ||
| Q2 25 | $-5.2M | $17.9M | ||
| Q1 25 | $-85.7M | $46.9M | ||
| Q4 24 | $-8.1M | $61.1M | ||
| Q3 24 | $14.2M | $41.5M | ||
| Q2 24 | $-17.6M | $34.5M | ||
| Q1 24 | $-3.9M | $33.4M |
| Q4 25 | $-68.6M | $11.4M | ||
| Q3 25 | $-90.7M | $21.2M | ||
| Q2 25 | $-87.5M | $-14.7M | ||
| Q1 25 | $-151.7M | $16.5M | ||
| Q4 24 | $-34.3M | $35.4M | ||
| Q3 24 | $-11.7M | $17.8M | ||
| Q2 24 | $-32.1M | $14.2M | ||
| Q1 24 | $-16.7M | $23.6M |
| Q4 25 | -47.8% | 4.7% | ||
| Q3 25 | -64.5% | 8.2% | ||
| Q2 25 | -71.6% | -5.7% | ||
| Q1 25 | -157.7% | 7.4% | ||
| Q4 24 | -42.4% | 14.8% | ||
| Q3 24 | -14.0% | 7.5% | ||
| Q2 24 | -37.9% | 6.5% | ||
| Q1 24 | -20.3% | 12.2% |
| Q4 25 | 45.9% | 8.0% | ||
| Q3 25 | 47.2% | 7.2% | ||
| Q2 25 | 67.3% | 12.7% | ||
| Q1 25 | 68.6% | 13.7% | ||
| Q4 24 | 32.5% | 10.7% | ||
| Q3 24 | 31.1% | 9.9% | ||
| Q2 24 | 17.2% | 9.2% | ||
| Q1 24 | 15.6% | 5.1% |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | -0.71× | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
