vs
Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and WORKIVA INC (WK). Click either name above to swap in a different company.
WORKIVA INC is the larger business by last-quarter revenue ($238.9M vs $143.5M, roughly 1.7× FTAI Infrastructure Inc.). WORKIVA INC runs the higher net margin — 4.9% vs -68.1%, a 73.0% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 19.5%). WORKIVA INC produced more free cash flow last quarter ($50.7M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs 16.6%).
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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
FIP vs WK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $238.9M |
| Net Profit | $-97.7M | $11.8M |
| Gross Margin | — | 80.7% |
| Operating Margin | -45.7% | 3.3% |
| Net Margin | -68.1% | 4.9% |
| Revenue YoY | 77.7% | 19.5% |
| Net Profit YoY | 21.6% | 234.0% |
| EPS (diluted) | $-1.04 | $0.21 |
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 | $238.9M | ||
| Q3 25 | $140.6M | $224.2M | ||
| Q2 25 | $122.3M | $215.2M | ||
| Q1 25 | $96.2M | $206.3M | ||
| Q4 24 | $80.8M | $199.9M | ||
| Q3 24 | $83.3M | $185.6M | ||
| Q2 24 | $84.9M | $177.5M | ||
| Q1 24 | $82.5M | $175.7M |
| Q4 25 | $-97.7M | $11.8M | ||
| Q3 25 | $-104.5M | $2.8M | ||
| Q2 25 | $-70.0M | $-19.4M | ||
| Q1 25 | $120.2M | $-21.4M | ||
| Q4 24 | $-124.7M | $-8.8M | ||
| Q3 24 | $-43.0M | $-17.0M | ||
| Q2 24 | $-48.1M | $-17.5M | ||
| Q1 24 | $-50.3M | $-11.7M |
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 76.6% | ||
| Q4 24 | — | 77.1% | ||
| Q3 24 | — | 76.5% | ||
| Q2 24 | — | 76.8% | ||
| Q1 24 | — | 76.4% |
| Q4 25 | -45.7% | 3.3% | ||
| Q3 25 | -70.8% | -1.5% | ||
| Q2 25 | -56.4% | -10.3% | ||
| Q1 25 | 81.8% | -12.0% | ||
| Q4 24 | -152.7% | -6.7% | ||
| Q3 24 | -51.7% | -11.7% | ||
| Q2 24 | -56.4% | -13.0% | ||
| Q1 24 | -58.8% | -10.4% |
| Q4 25 | -68.1% | 4.9% | ||
| Q3 25 | -74.4% | 1.2% | ||
| Q2 25 | -57.2% | -9.0% | ||
| Q1 25 | 125.0% | -10.4% | ||
| Q4 24 | -154.4% | -4.4% | ||
| Q3 24 | -51.6% | -9.2% | ||
| Q2 24 | -56.7% | -9.9% | ||
| Q1 24 | -60.9% | -6.7% |
| Q4 25 | $-1.04 | $0.21 | ||
| Q3 25 | $-1.38 | $0.05 | ||
| Q2 25 | $-0.73 | $-0.35 | ||
| Q1 25 | $0.89 | $-0.38 | ||
| Q4 24 | $-1.21 | $-0.15 | ||
| Q3 24 | $-0.45 | $-0.31 | ||
| Q2 24 | $-0.52 | $-0.32 | ||
| Q1 24 | $-0.54 | $-0.21 |
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 | $338.8M |
| Total DebtLower is stronger | $3.8B | — |
| Stockholders' EquityBook value | $21.3M | $-5.4M |
| Total Assets | $5.7B | $1.5B |
| Debt / EquityLower = less leverage | 176.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $338.8M | ||
| Q3 25 | $34.7M | $315.9M | ||
| Q2 25 | $33.6M | $284.3M | ||
| Q1 25 | $26.3M | $242.0M | ||
| Q4 24 | $27.8M | $301.8M | ||
| Q3 24 | $20.3M | $248.2M | ||
| Q2 24 | $33.1M | $267.9M | ||
| Q1 24 | $23.0M | $296.1M |
| 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 | $-5.4M | ||
| Q3 25 | $181.1M | $-36.9M | ||
| Q2 25 | $375.5M | $-66.5M | ||
| Q1 25 | $476.2M | $-75.7M | ||
| Q4 24 | $202.7M | $-41.7M | ||
| Q3 24 | $370.8M | $-50.8M | ||
| Q2 24 | $394.8M | $-77.7M | ||
| Q1 24 | $402.5M | $-83.2M |
| Q4 25 | $5.7B | $1.5B | ||
| Q3 25 | $5.5B | $1.4B | ||
| Q2 25 | $4.4B | $1.3B | ||
| Q1 25 | $4.1B | $1.3B | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.4B | $1.3B | ||
| 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 | $51.0M |
| Free Cash FlowOCF − Capex | $-68.6M | $50.7M |
| FCF MarginFCF / Revenue | -47.8% | 21.2% |
| Capex IntensityCapex / Revenue | 45.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $51.0M | ||
| Q3 25 | $-24.4M | $46.2M | ||
| Q2 25 | $-5.2M | $50.3M | ||
| Q1 25 | $-85.7M | $-7.4M | ||
| Q4 24 | $-8.1M | $44.0M | ||
| Q3 24 | $14.2M | $18.9M | ||
| Q2 24 | $-17.6M | $-14.0K | ||
| Q1 24 | $-3.9M | $24.8M |
| Q4 25 | $-68.6M | $50.7M | ||
| Q3 25 | $-90.7M | $46.1M | ||
| Q2 25 | $-87.5M | $49.3M | ||
| Q1 25 | $-151.7M | $-8.1M | ||
| Q4 24 | $-34.3M | $43.2M | ||
| Q3 24 | $-11.7M | $18.7M | ||
| Q2 24 | $-32.1M | $-122.0K | ||
| Q1 24 | $-16.7M | $24.6M |
| Q4 25 | -47.8% | 21.2% | ||
| Q3 25 | -64.5% | 20.5% | ||
| Q2 25 | -71.6% | 22.9% | ||
| Q1 25 | -157.7% | -3.9% | ||
| Q4 24 | -42.4% | 21.6% | ||
| Q3 24 | -14.0% | 10.1% | ||
| Q2 24 | -37.9% | -0.1% | ||
| Q1 24 | -20.3% | 14.0% |
| Q4 25 | 45.9% | 0.1% | ||
| Q3 25 | 47.2% | 0.0% | ||
| Q2 25 | 67.3% | 0.5% | ||
| Q1 25 | 68.6% | 0.4% | ||
| Q4 24 | 32.5% | 0.4% | ||
| Q3 24 | 31.1% | 0.1% | ||
| Q2 24 | 17.2% | 0.1% | ||
| Q1 24 | 15.6% | 0.1% |
| Q4 25 | — | 4.31× | ||
| Q3 25 | — | 16.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
