vs
Side-by-side financial comparison of OFG BANCORP (OFG) and WaterBridge Infrastructure LLC (WBI). Click either name above to swap in a different company.
WaterBridge Infrastructure LLC is the larger business by last-quarter revenue ($201.0M vs $184.3M, roughly 1.1× OFG BANCORP). OFG BANCORP runs the higher net margin — 30.3% vs 4.7%, a 25.6% gap on every dollar of revenue. On growth, OFG BANCORP posted the faster year-over-year revenue change (0.9% vs -3.8%).
OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918....
Global Infrastructure Partners, LLC (GIP) is an American infrastructure investment fund making equity and selected debt investments across markets worldwide. GIP's main headquarters are located in New York City and its equity investments are based on infrastructure assets in the energy, transport and water & waste sectors. GIP employs approximately 150 investment and operational professionals and has offices in New York, London, Stamford, Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore ...
OFG vs WBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $184.3M | $201.0M |
| Net Profit | $55.9M | $9.5M |
| Gross Margin | — | 24.0% |
| Operating Margin | 25.7% | 15.2% |
| Net Margin | 30.3% | 4.7% |
| Revenue YoY | 0.9% | -3.8% |
| Net Profit YoY | 11.0% | — |
| EPS (diluted) | $1.27 | — |
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.
| Q1 26 | — | $201.0M | ||
| Q4 25 | $184.3M | $208.9M | ||
| Q3 25 | $186.2M | $123.3M | ||
| Q2 25 | $182.4M | — | ||
| Q1 25 | $178.6M | — | ||
| Q4 24 | $182.7M | — | ||
| Q3 24 | $174.7M | — | ||
| Q2 24 | $179.8M | — |
| Q1 26 | — | $9.5M | ||
| Q4 25 | $55.9M | $9.0K | ||
| Q3 25 | $51.8M | $-667.0K | ||
| Q2 25 | $51.8M | — | ||
| Q1 25 | $45.6M | — | ||
| Q4 24 | $50.3M | — | ||
| Q3 24 | $47.0M | — | ||
| Q2 24 | $51.1M | — |
| Q1 26 | — | 24.0% | ||
| Q4 25 | — | 22.4% | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 15.2% | ||
| Q4 25 | 25.7% | 10.7% | ||
| Q3 25 | 33.0% | 19.2% | ||
| Q2 25 | 36.1% | — | ||
| Q1 25 | 33.3% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 35.4% | — | ||
| Q2 24 | 39.6% | — |
| Q1 26 | — | 4.7% | ||
| Q4 25 | 30.3% | 0.0% | ||
| Q3 25 | 27.8% | -0.5% | ||
| Q2 25 | 28.4% | — | ||
| Q1 25 | 25.5% | — | ||
| Q4 24 | 27.6% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 28.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.27 | — | ||
| Q3 25 | $1.16 | $-0.02 | ||
| Q2 25 | $1.15 | — | ||
| Q1 25 | $1.00 | — | ||
| Q4 24 | $1.10 | — | ||
| Q3 24 | $1.00 | — | ||
| Q2 24 | $1.08 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $50.7M |
| Total DebtLower is stronger | — | $9.1M |
| Stockholders' EquityBook value | $1.4B | — |
| Total Assets | $12.5B | $3.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $50.7M | ||
| Q4 25 | $1.0B | $51.5M | ||
| Q3 25 | $740.3M | $346.6M | ||
| Q2 25 | $851.8M | — | ||
| Q1 25 | $710.6M | — | ||
| Q4 24 | $591.1M | — | ||
| Q3 24 | $680.6M | — | ||
| Q2 24 | $740.4M | — |
| Q1 26 | — | $9.1M | ||
| Q4 25 | — | $12.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $607.7M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | — | $3.8B | ||
| Q4 25 | $12.5B | $3.7B | ||
| Q3 25 | $12.2B | $3.9B | ||
| Q2 25 | $12.2B | — | ||
| Q1 25 | $11.7B | — | ||
| Q4 24 | $11.5B | — | ||
| Q3 24 | $11.5B | — | ||
| Q2 24 | $11.3B | — |
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 | $217.7M | $95.1M |
| Free Cash FlowOCF − Capex | $199.3M | — |
| FCF MarginFCF / Revenue | 108.1% | — |
| Capex IntensityCapex / Revenue | 10.0% | — |
| Cash ConversionOCF / Net Profit | 3.90× | 9.99× |
| TTM Free Cash FlowTrailing 4 quarters | $345.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $95.1M | ||
| Q4 25 | $217.7M | $159.7M | ||
| Q3 25 | $39.5M | $71.5M | ||
| Q2 25 | $35.9M | — | ||
| Q1 25 | $83.1M | — | ||
| Q4 24 | $252.5M | — | ||
| Q3 24 | $58.1M | — | ||
| Q2 24 | $95.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | $199.3M | — | ||
| Q3 25 | $35.5M | $-117.8M | ||
| Q2 25 | $31.8M | — | ||
| Q1 25 | $78.7M | — | ||
| Q4 24 | $231.2M | — | ||
| Q3 24 | $51.8M | — | ||
| Q2 24 | $90.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 108.1% | — | ||
| Q3 25 | 19.1% | -95.6% | ||
| Q2 25 | 17.4% | — | ||
| Q1 25 | 44.1% | — | ||
| Q4 24 | 126.5% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 50.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 10.0% | — | ||
| Q3 25 | 2.1% | 153.6% | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.6% | — |
| Q1 26 | — | 9.99× | ||
| Q4 25 | 3.90× | 17743.89× | ||
| Q3 25 | 0.76× | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | 5.02× | — | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 1.86× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OFG
Segment breakdown not available.
WBI
| Produced water handling | $153.2M | 76% |
| Produced water handling - related party | $28.7M | 14% |
| Other revenues | $8.7M | 4% |
| Water solutions | $8.5M | 4% |
| Water solutions - related party | $524.0K | 0% |
