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FTAI Infrastructure Inc.（FIP）与FIRST MERCHANTS CORP（FRME）财务数据对比。点击上方公司名可切换其他公司
FTAI Infrastructure Inc.的季度营收约是FIRST MERCHANTS CORP的1.2倍（$188.4M vs $157.1M），FIRST MERCHANTS CORP净利率更高（17.9% vs -79.7%，领先97.6%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（49.0% vs -0.9%）
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。
第一商人集团是总部位于美国印第安纳州曼西的金融控股公司，业务覆盖印第安纳州中部地区，旗下拥有第一商人银行、第一商人私人财富顾问两大板块，在纳斯达克上市，股票代码为FRME。截至2023年3月，集团总资产达182亿美元，为客户提供商业银行、个人银行及投资顾问服务。
FIP vs FRME — 直观对比
营收规模更大
FIP
是对方的1.2倍
$157.1M
净利率更高
FRME
高出97.6%
-79.7%
两年增速更快
FIP
近两年复合增速
-0.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $188.4M | $157.1M |
| 净利润 | $-150.2M | $28.2M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | -79.7% | 17.9% |
| 营收同比 | 95.9% | — |
| 净利润同比 | -387.6% | -49.1% |
| 每股收益（稀释后） | $-1.32 | $0.45 |
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FIPFRME
| Q1 26 | $188.4M | $157.1M | ||
| Q4 25 | $143.5M | $172.2M | ||
| Q3 25 | $140.6M | $166.1M | ||
| Q2 25 | $122.3M | $164.3M | ||
| Q1 25 | $96.2M | $160.3M | ||
| Q4 24 | $80.8M | $177.1M | ||
| Q3 24 | $83.3M | $156.0M | ||
| Q2 24 | $84.9M | $159.9M |
净利润FIPFRME
| Q1 26 | $-150.2M | $28.2M | ||
| Q4 25 | $-97.7M | $57.1M | ||
| Q3 25 | $-104.5M | $56.8M | ||
| Q2 25 | $-70.0M | $56.8M | ||
| Q1 25 | $120.2M | $55.3M | ||
| Q4 24 | $-124.7M | $64.3M | ||
| Q3 24 | $-43.0M | $49.2M | ||
| Q2 24 | $-48.1M | $39.9M |
营业利润率FIPFRME
| Q1 26 | — | — | ||
| Q4 25 | -45.7% | 38.0% | ||
| Q3 25 | -70.8% | 39.3% | ||
| Q2 25 | -56.4% | 39.6% | ||
| Q1 25 | 81.8% | 39.4% | ||
| Q4 24 | -152.7% | 43.3% | ||
| Q3 24 | -51.7% | 36.1% | ||
| Q2 24 | -56.4% | 27.5% |
净利率FIPFRME
| Q1 26 | -79.7% | 17.9% | ||
| Q4 25 | -68.1% | 33.1% | ||
| Q3 25 | -74.4% | 34.2% | ||
| Q2 25 | -57.2% | 34.6% | ||
| Q1 25 | 125.0% | 34.5% | ||
| Q4 24 | -154.4% | 36.3% | ||
| Q3 24 | -51.6% | 31.5% | ||
| Q2 24 | -56.7% | 25.0% |
每股收益（稀释后）FIPFRME
| Q1 26 | $-1.32 | $0.45 | ||
| Q4 25 | $-1.04 | $0.98 | ||
| Q3 25 | $-1.38 | $0.98 | ||
| Q2 25 | $-0.73 | $0.98 | ||
| Q1 25 | $0.89 | $0.94 | ||
| Q4 24 | $-1.21 | $1.09 | ||
| Q3 24 | $-0.45 | $0.84 | ||
| Q2 24 | $-0.52 | $0.68 |
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 | $37.9M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-122.5K | $2.7B |
| 总资产 | $5.7B | $21.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FIPFRME
| Q1 26 | $37.9M | — | ||
| Q4 25 | $57.4M | — | ||
| Q3 25 | $34.7M | — | ||
| Q2 25 | $33.6M | — | ||
| Q1 25 | $26.3M | — | ||
| Q4 24 | $27.8M | — | ||
| Q3 24 | $20.3M | — | ||
| Q2 24 | $33.1M | — |
总债务FIPFRME
| Q1 26 | — | — | ||
| 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 | — |
股东权益FIPFRME
| Q1 26 | $-122.5K | $2.7B | ||
| Q4 25 | $21.3M | $2.5B | ||
| Q3 25 | $181.1M | $2.4B | ||
| Q2 25 | $375.5M | $2.3B | ||
| Q1 25 | $476.2M | $2.3B | ||
| Q4 24 | $202.7M | $2.3B | ||
| Q3 24 | $370.8M | $2.3B | ||
| Q2 24 | $394.8M | $2.2B |
总资产FIPFRME
| Q1 26 | $5.7B | $21.1B | ||
| Q4 25 | $5.7B | $19.0B | ||
| Q3 25 | $5.5B | $18.8B | ||
| Q2 25 | $4.4B | $18.6B | ||
| Q1 25 | $4.1B | $18.4B | ||
| Q4 24 | $2.4B | $18.3B | ||
| Q3 24 | $2.4B | $18.3B | ||
| Q2 24 | $2.5B | $18.3B |
负债/权益比FIPFRME
| Q1 26 | — | — | ||
| 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× | — |
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 | $-69.4M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流FIPFRME
| Q1 26 | $-69.4M | — | ||
| Q4 25 | $-2.8M | $283.6M | ||
| Q3 25 | $-24.4M | $87.6M | ||
| Q2 25 | $-5.2M | $53.7M | ||
| Q1 25 | $-85.7M | $61.7M | ||
| Q4 24 | $-8.1M | $266.2M | ||
| Q3 24 | $14.2M | $76.8M | ||
| Q2 24 | $-17.6M | $63.0M |
自由现金流FIPFRME
| Q1 26 | — | — | ||
| Q4 25 | $-68.6M | — | ||
| Q3 25 | $-90.7M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-151.7M | — | ||
| Q4 24 | $-34.3M | — | ||
| Q3 24 | $-11.7M | — | ||
| Q2 24 | $-32.1M | — |
自由现金流率FIPFRME
| Q1 26 | — | — | ||
| Q4 25 | -47.8% | — | ||
| Q3 25 | -64.5% | — | ||
| Q2 25 | -71.6% | — | ||
| Q1 25 | -157.7% | — | ||
| Q4 24 | -42.4% | — | ||
| Q3 24 | -14.0% | — | ||
| Q2 24 | -37.9% | — |
资本支出强度FIPFRME
| Q1 26 | — | — | ||
| Q4 25 | 45.9% | — | ||
| Q3 25 | 47.2% | — | ||
| Q2 25 | 67.3% | — | ||
| Q1 25 | 68.6% | — | ||
| Q4 24 | 32.5% | — | ||
| Q3 24 | 31.1% | — | ||
| Q2 24 | 17.2% | — |
现金转化率FIPFRME
| Q1 26 | — | — | ||
| Q4 25 | — | 4.97× | ||
| Q3 25 | — | 1.54× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | -0.71× | 1.11× | ||
| Q4 24 | — | 4.14× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.58× |
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
FIP
暂无分部数据
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
