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Side-by-side financial comparison of FTAI Infrastructure Inc. (FIP) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $143.5M, roughly 1.7× FTAI Infrastructure Inc.). XPLR Infrastructure, LP runs the higher net margin — 11.2% vs -68.1%, a 79.3% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs -15.3%). FTAI Infrastructure Inc. produced more free cash flow last quarter ($-68.6M vs $-88.0M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs -1.6%).
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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
FIP vs XIFR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $249.0M |
| Net Profit | $-97.7M | $28.0M |
| Gross Margin | — | — |
| Operating Margin | -45.7% | -19.3% |
| Net Margin | -68.1% | 11.2% |
| Revenue YoY | 77.7% | -15.3% |
| Net Profit YoY | 21.6% | 124.3% |
| EPS (diluted) | $-1.04 | — |
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 | $249.0M | ||
| Q3 25 | $140.6M | $315.0M | ||
| Q2 25 | $122.3M | $342.0M | ||
| Q1 25 | $96.2M | $282.0M | ||
| Q4 24 | $80.8M | $294.0M | ||
| Q3 24 | $83.3M | $319.0M | ||
| Q2 24 | $84.9M | $360.0M | ||
| Q1 24 | $82.5M | $257.0M |
| Q4 25 | $-97.7M | $28.0M | ||
| Q3 25 | $-104.5M | $-37.0M | ||
| Q2 25 | $-70.0M | $79.0M | ||
| Q1 25 | $120.2M | $-98.0M | ||
| Q4 24 | $-124.7M | $-115.0M | ||
| Q3 24 | $-43.0M | $-40.0M | ||
| Q2 24 | $-48.1M | $62.0M | ||
| Q1 24 | $-50.3M | $70.0M |
| Q4 25 | -45.7% | -19.3% | ||
| Q3 25 | -70.8% | 1.6% | ||
| Q2 25 | -56.4% | 26.3% | ||
| Q1 25 | 81.8% | -82.6% | ||
| Q4 24 | -152.7% | -188.1% | ||
| Q3 24 | -51.7% | 15.4% | ||
| Q2 24 | -56.4% | 18.3% | ||
| Q1 24 | -58.8% | -8.2% |
| Q4 25 | -68.1% | 11.2% | ||
| Q3 25 | -74.4% | -11.7% | ||
| Q2 25 | -57.2% | 23.1% | ||
| Q1 25 | 125.0% | -34.8% | ||
| Q4 24 | -154.4% | -39.1% | ||
| Q3 24 | -51.6% | -12.5% | ||
| Q2 24 | -56.7% | 17.2% | ||
| Q1 24 | -60.9% | 27.2% |
| Q4 25 | $-1.04 | — | ||
| Q3 25 | $-1.38 | $-0.40 | ||
| Q2 25 | $-0.73 | $0.84 | ||
| Q1 25 | $0.89 | $-1.05 | ||
| Q4 24 | $-1.21 | — | ||
| Q3 24 | $-0.45 | $-0.43 | ||
| Q2 24 | $-0.52 | $0.66 | ||
| Q1 24 | $-0.54 | $0.75 |
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 | $960.0M |
| Total DebtLower is stronger | $3.8B | $6.2B |
| Stockholders' EquityBook value | $21.3M | $10.9B |
| Total Assets | $5.7B | $19.6B |
| Debt / EquityLower = less leverage | 176.99× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.4M | $960.0M | ||
| Q3 25 | $34.7M | $711.0M | ||
| Q2 25 | $33.6M | $880.0M | ||
| Q1 25 | $26.3M | $1.5B | ||
| Q4 24 | $27.8M | $283.0M | ||
| Q3 24 | $20.3M | $290.0M | ||
| Q2 24 | $33.1M | $281.0M | ||
| Q1 24 | $23.0M | $245.0M |
| Q4 25 | $3.8B | $6.2B | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.6B | $5.3B | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $21.3M | $10.9B | ||
| Q3 25 | $181.1M | $11.0B | ||
| Q2 25 | $375.5M | $11.3B | ||
| Q1 25 | $476.2M | $12.6B | ||
| Q4 24 | $202.7M | $12.9B | ||
| Q3 24 | $370.8M | $13.6B | ||
| Q2 24 | $394.8M | $13.9B | ||
| Q1 24 | $402.5M | $14.0B |
| Q4 25 | $5.7B | $19.6B | ||
| Q3 25 | $5.5B | $19.1B | ||
| Q2 25 | $4.4B | $20.5B | ||
| Q1 25 | $4.1B | $21.4B | ||
| Q4 24 | $2.4B | $20.3B | ||
| Q3 24 | $2.4B | $20.9B | ||
| Q2 24 | $2.5B | $21.7B | ||
| Q1 24 | $2.3B | $22.3B |
| Q4 25 | 176.99× | 0.57× | ||
| Q3 25 | 20.59× | — | ||
| Q2 25 | 8.21× | — | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 7.84× | 0.41× | ||
| 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 | $186.0M |
| Free Cash FlowOCF − Capex | $-68.6M | $-88.0M |
| FCF MarginFCF / Revenue | -47.8% | -35.3% |
| Capex IntensityCapex / Revenue | 45.9% | 110.0% |
| Cash ConversionOCF / Net Profit | — | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $-398.5M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.8M | $186.0M | ||
| Q3 25 | $-24.4M | $231.0M | ||
| Q2 25 | $-5.2M | $232.0M | ||
| Q1 25 | $-85.7M | $90.0M | ||
| Q4 24 | $-8.1M | $283.0M | ||
| Q3 24 | $14.2M | $208.0M | ||
| Q2 24 | $-17.6M | $231.0M | ||
| Q1 24 | $-3.9M | $78.0M |
| Q4 25 | $-68.6M | $-88.0M | ||
| Q3 25 | $-90.7M | $-283.0M | ||
| Q2 25 | $-87.5M | $151.0M | ||
| Q1 25 | $-151.7M | $1.0M | ||
| Q4 24 | $-34.3M | $231.0M | ||
| Q3 24 | $-11.7M | $152.0M | ||
| Q2 24 | $-32.1M | $162.0M | ||
| Q1 24 | $-16.7M | $14.0M |
| Q4 25 | -47.8% | -35.3% | ||
| Q3 25 | -64.5% | -89.8% | ||
| Q2 25 | -71.6% | 44.2% | ||
| Q1 25 | -157.7% | 0.4% | ||
| Q4 24 | -42.4% | 78.6% | ||
| Q3 24 | -14.0% | 47.6% | ||
| Q2 24 | -37.9% | 45.0% | ||
| Q1 24 | -20.3% | 5.4% |
| Q4 25 | 45.9% | 110.0% | ||
| Q3 25 | 47.2% | 163.2% | ||
| Q2 25 | 67.3% | 23.7% | ||
| Q1 25 | 68.6% | 31.6% | ||
| Q4 24 | 32.5% | 17.7% | ||
| Q3 24 | 31.1% | 17.6% | ||
| Q2 24 | 17.2% | 19.2% | ||
| Q1 24 | 15.6% | 24.9% |
| Q4 25 | — | 6.64× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.94× | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.73× | ||
| Q1 24 | — | 1.11× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
