vs
Ecovyst Inc.（ECVT）与FTAI Infrastructure Inc.（FIP）财务数据对比。点击上方公司名可切换其他公司
Ecovyst Inc.的季度营收约是FTAI Infrastructure Inc.的1.4倍（$199.4M vs $143.5M），FTAI Infrastructure Inc.同比增速更快（77.7% vs 34.0%），Ecovyst Inc.自由现金流更多（$22.9M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 18.7%）
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
ECVT vs FIP — 直观对比
营收规模更大
ECVT
是对方的1.4倍
$143.5M
营收增速更快
FIP
高出43.7%
34.0%
自由现金流更多
ECVT
多$91.6M
$-68.6M
两年增速更快
FIP
近两年复合增速
18.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $143.5M |
| 净利润 | — | $-97.7M |
| 毛利率 | 23.4% | — |
| 营业利润率 | 10.9% | -45.7% |
| 净利率 | — | -68.1% |
| 营收同比 | 34.0% | 77.7% |
| 净利润同比 | — | 21.6% |
| 每股收益（稀释后） | $0.06 | $-1.04 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ECVTFIP
| Q4 25 | $199.4M | $143.5M | ||
| Q3 25 | $204.9M | $140.6M | ||
| Q2 25 | $176.1M | $122.3M | ||
| Q1 25 | $143.1M | $96.2M | ||
| Q4 24 | $148.9M | $80.8M | ||
| Q3 24 | $153.9M | $83.3M | ||
| Q2 24 | $154.0M | $84.9M | ||
| Q1 24 | $141.6M | $82.5M |
净利润ECVTFIP
| Q4 25 | — | $-97.7M | ||
| Q3 25 | $-79.3M | $-104.5M | ||
| Q2 25 | $6.0M | $-70.0M | ||
| Q1 25 | $-3.6M | $120.2M | ||
| Q4 24 | — | $-124.7M | ||
| Q3 24 | $14.3M | $-43.0M | ||
| Q2 24 | $8.3M | $-48.1M | ||
| Q1 24 | $1.2M | $-50.3M |
毛利率ECVTFIP
| Q4 25 | 23.4% | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 22.8% | — | ||
| Q1 25 | 13.3% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 29.3% | — | ||
| Q2 24 | 27.3% | — | ||
| Q1 24 | 23.5% | — |
营业利润率ECVTFIP
| Q4 25 | 10.9% | -45.7% | ||
| Q3 25 | 13.8% | -70.8% | ||
| Q2 25 | 9.0% | -56.4% | ||
| Q1 25 | -0.7% | 81.8% | ||
| Q4 24 | 15.1% | -152.7% | ||
| Q3 24 | 17.9% | -51.7% | ||
| Q2 24 | 14.1% | -56.4% | ||
| Q1 24 | 9.5% | -58.8% |
净利率ECVTFIP
| Q4 25 | — | -68.1% | ||
| Q3 25 | -38.7% | -74.4% | ||
| Q2 25 | 3.4% | -57.2% | ||
| Q1 25 | -2.5% | 125.0% | ||
| Q4 24 | — | -154.4% | ||
| Q3 24 | 9.3% | -51.6% | ||
| Q2 24 | 5.4% | -56.7% | ||
| Q1 24 | 0.9% | -60.9% |
每股收益（稀释后）ECVTFIP
| Q4 25 | $0.06 | $-1.04 | ||
| Q3 25 | $-0.69 | $-1.38 | ||
| Q2 25 | $0.05 | $-0.73 | ||
| Q1 25 | $-0.03 | $0.89 | ||
| Q4 24 | $-0.26 | $-1.21 | ||
| Q3 24 | $0.12 | $-0.45 | ||
| Q2 24 | $0.07 | $-0.52 | ||
| Q1 24 | $0.01 | $-0.54 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $197.2M | $57.4M |
| 总债务越低越好 | $392.6M | $3.8B |
| 股东权益账面价值 | $603.4M | $21.3M |
| 总资产 | $1.3B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.65× | 176.99× |
8季度趋势，按日历期对齐
现金及短期投资ECVTFIP
| Q4 25 | $197.2M | $57.4M | ||
| Q3 25 | $82.0M | $34.7M | ||
| Q2 25 | $69.6M | $33.6M | ||
| Q1 25 | $127.5M | $26.3M | ||
| Q4 24 | $131.4M | $27.8M | ||
| Q3 24 | $123.5M | $20.3M | ||
| Q2 24 | $83.3M | $33.1M | ||
| Q1 24 | $103.1M | $23.0M |
总债务ECVTFIP
| Q4 25 | $392.6M | $3.8B | ||
| Q3 25 | $854.8M | $3.7B | ||
| Q2 25 | $856.6M | $3.1B | ||
| Q1 25 | $859.0M | $2.8B | ||
| Q4 24 | $860.8M | $1.6B | ||
| Q3 24 | $862.7M | $1.5B | ||
| Q2 24 | $862.4M | $1.6B | ||
| Q1 24 | $866.2M | $1.3B |
股东权益ECVTFIP
| Q4 25 | $603.4M | $21.3M | ||
| Q3 25 | $607.9M | $181.1M | ||
| Q2 25 | $692.4M | $375.5M | ||
| Q1 25 | $698.7M | $476.2M | ||
| Q4 24 | $700.5M | $202.7M | ||
| Q3 24 | $729.4M | $370.8M | ||
| Q2 24 | $717.3M | $394.8M | ||
| Q1 24 | $711.4M | $402.5M |
总资产ECVTFIP
| Q4 25 | $1.3B | $5.7B | ||
| Q3 25 | $1.7B | $5.5B | ||
| Q2 25 | $1.8B | $4.4B | ||
| Q1 25 | $1.8B | $4.1B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.8B | $2.4B | ||
| Q2 24 | $1.8B | $2.5B | ||
| Q1 24 | $1.8B | $2.3B |
负债/权益比ECVTFIP
| Q4 25 | 0.65× | 176.99× | ||
| Q3 25 | 1.41× | 20.59× | ||
| Q2 25 | 1.24× | 8.21× | ||
| Q1 25 | 1.23× | 5.79× | ||
| Q4 24 | 1.23× | 7.84× | ||
| Q3 24 | 1.18× | 4.14× | ||
| Q2 24 | 1.20× | 3.94× | ||
| Q1 24 | 1.22× | 3.34× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $41.8M | $-2.8M |
| 自由现金流经营现金流 - 资本支出 | $22.9M | $-68.6M |
| 自由现金流率自由现金流/营收 | 11.5% | -47.8% |
| 资本支出强度资本支出/营收 | 9.4% | 45.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $69.9M | $-398.5M |
8季度趋势，按日历期对齐
经营现金流ECVTFIP
| Q4 25 | $41.8M | $-2.8M | ||
| Q3 25 | $55.3M | $-24.4M | ||
| Q2 25 | $33.0M | $-5.2M | ||
| Q1 25 | $10.3M | $-85.7M | ||
| Q4 24 | $43.5M | $-8.1M | ||
| Q3 24 | $59.9M | $14.2M | ||
| Q2 24 | $10.0M | $-17.6M | ||
| Q1 24 | $36.5M | $-3.9M |
自由现金流ECVTFIP
| Q4 25 | $22.9M | $-68.6M | ||
| Q3 25 | $53.2M | $-90.7M | ||
| Q2 25 | $7.8M | $-87.5M | ||
| Q1 25 | $-14.0M | $-151.7M | ||
| Q4 24 | $30.9M | $-34.3M | ||
| Q3 24 | $53.6M | $-11.7M | ||
| Q2 24 | $-9.3M | $-32.1M | ||
| Q1 24 | $19.1M | $-16.7M |
自由现金流率ECVTFIP
| Q4 25 | 11.5% | -47.8% | ||
| Q3 25 | 26.0% | -64.5% | ||
| Q2 25 | 4.4% | -71.6% | ||
| Q1 25 | -9.8% | -157.7% | ||
| Q4 24 | 20.7% | -42.4% | ||
| Q3 24 | 34.9% | -14.0% | ||
| Q2 24 | -6.1% | -37.9% | ||
| Q1 24 | 13.5% | -20.3% |
资本支出强度ECVTFIP
| Q4 25 | 9.4% | 45.9% | ||
| Q3 25 | 1.0% | 47.2% | ||
| Q2 25 | 14.4% | 67.3% | ||
| Q1 25 | 16.9% | 68.6% | ||
| Q4 24 | 8.5% | 32.5% | ||
| Q3 24 | 4.1% | 31.1% | ||
| Q2 24 | 12.5% | 17.2% | ||
| Q1 24 | 12.3% | 15.6% |
现金转化率ECVTFIP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.52× | — | ||
| Q1 25 | — | -0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.21× | — | ||
| Q2 24 | 1.20× | — | ||
| Q1 24 | 29.90× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
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% |
