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FTAI Infrastructure Inc.（FIP）与Globalstar, Inc.（GSAT）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Globalstar, Inc.的2.0倍（$143.5M vs $72.0M），Globalstar, Inc.净利率更高（-16.1% vs -68.1%，领先51.9%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 17.6%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 12.9%）
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。
Globalstar Inc.是一家美国电信企业，运营近地轨道卫星星座，可提供卫星电话、低速数据传输及对地观测服务，其第二代卫星星座由25颗卫星组成，相关服务可覆盖全球大部分区域的通信及遥感需求。
FIP vs GSAT — 直观对比
营收规模更大
FIP
是对方的2.0倍
$72.0M
营收增速更快
FIP
高出60.1%
17.6%
净利率更高
GSAT
高出51.9%
-68.1%
两年增速更快
FIP
近两年复合增速
12.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $72.0M |
| 净利润 | $-97.7M | $-11.6M |
| 毛利率 | — | — |
| 营业利润率 | -45.7% | -0.5% |
| 净利率 | -68.1% | -16.1% |
| 营收同比 | 77.7% | 17.6% |
| 净利润同比 | 21.6% | 76.9% |
| 每股收益（稀释后） | $-1.04 | $-0.11 |
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FIPGSAT
| Q4 25 | $143.5M | $72.0M | ||
| Q3 25 | $140.6M | $73.8M | ||
| Q2 25 | $122.3M | $67.1M | ||
| Q1 25 | $96.2M | $60.0M | ||
| Q4 24 | $80.8M | $61.2M | ||
| Q3 24 | $83.3M | $72.3M | ||
| Q2 24 | $84.9M | $60.4M | ||
| Q1 24 | $82.5M | $56.5M |
净利润FIPGSAT
| Q4 25 | $-97.7M | $-11.6M | ||
| Q3 25 | $-104.5M | $1.1M | ||
| Q2 25 | $-70.0M | $19.2M | ||
| Q1 25 | $120.2M | $-17.3M | ||
| Q4 24 | $-124.7M | $-50.2M | ||
| Q3 24 | $-43.0M | $9.9M | ||
| Q2 24 | $-48.1M | $-9.7M | ||
| Q1 24 | $-50.3M | $-13.2M |
营业利润率FIPGSAT
| Q4 25 | -45.7% | -0.5% | ||
| Q3 25 | -70.8% | 13.8% | ||
| Q2 25 | -56.4% | 9.2% | ||
| Q1 25 | 81.8% | -14.2% | ||
| Q4 24 | -152.7% | -6.9% | ||
| Q3 24 | -51.7% | 13.0% | ||
| Q2 24 | -56.4% | -2.4% | ||
| Q1 24 | -58.8% | -8.3% |
净利率FIPGSAT
| Q4 25 | -68.1% | -16.1% | ||
| Q3 25 | -74.4% | 1.5% | ||
| Q2 25 | -57.2% | 28.6% | ||
| Q1 25 | 125.0% | -28.9% | ||
| Q4 24 | -154.4% | -82.1% | ||
| Q3 24 | -51.6% | 13.7% | ||
| Q2 24 | -56.7% | -16.0% | ||
| Q1 24 | -60.9% | -23.4% |
每股收益（稀释后）FIPGSAT
| Q4 25 | $-1.04 | $-0.11 | ||
| Q3 25 | $-1.38 | $-0.01 | ||
| Q2 25 | $-0.73 | $0.13 | ||
| Q1 25 | $0.89 | $-0.16 | ||
| Q4 24 | $-1.21 | $-0.57 | ||
| Q3 24 | $-0.45 | $0.00 | ||
| Q2 24 | $-0.52 | $-0.01 | ||
| Q1 24 | $-0.54 | $-0.01 |
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 | $57.4M | $447.5M |
| 总债务越低越好 | $3.8B | $483.8M |
| 股东权益账面价值 | $21.3M | $355.7M |
| 总资产 | $5.7B | $2.3B |
| 负债/权益比越低杠杆越低 | 176.99× | 1.36× |
8季度趋势，按日历期对齐
现金及短期投资FIPGSAT
| Q4 25 | $57.4M | $447.5M | ||
| Q3 25 | $34.7M | $346.3M | ||
| Q2 25 | $33.6M | $308.2M | ||
| Q1 25 | $26.3M | $241.4M | ||
| Q4 24 | $27.8M | $391.2M | ||
| Q3 24 | $20.3M | $51.9M | ||
| Q2 24 | $33.1M | $64.3M | ||
| Q1 24 | $23.0M | $59.3M |
总债务FIPGSAT
| Q4 25 | $3.8B | $483.8M | ||
| Q3 25 | $3.7B | $508.6M | ||
| Q2 25 | $3.1B | $491.5M | ||
| Q1 25 | $2.8B | $502.7M | ||
| Q4 24 | $1.6B | $511.4M | ||
| Q3 24 | $1.5B | $394.4M | ||
| Q2 24 | $1.6B | $393.1M | ||
| Q1 24 | $1.3B | $398.7M |
股东权益FIPGSAT
| Q4 25 | $21.3M | $355.7M | ||
| Q3 25 | $181.1M | $364.8M | ||
| Q2 25 | $375.5M | $360.9M | ||
| Q1 25 | $476.2M | $344.3M | ||
| Q4 24 | $202.7M | $358.9M | ||
| Q3 24 | $370.8M | $394.1M | ||
| Q2 24 | $394.8M | $383.0M | ||
| Q1 24 | $402.5M | $377.1M |
总资产FIPGSAT
| Q4 25 | $5.7B | $2.3B | ||
| Q3 25 | $5.5B | $2.2B | ||
| Q2 25 | $4.4B | $1.9B | ||
| Q1 25 | $4.1B | $1.7B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.4B | $917.6M | ||
| Q2 24 | $2.5B | $926.2M | ||
| Q1 24 | $2.3B | $917.0M |
负债/权益比FIPGSAT
| Q4 25 | 176.99× | 1.36× | ||
| Q3 25 | 20.59× | 1.39× | ||
| Q2 25 | 8.21× | 1.36× | ||
| Q1 25 | 5.79× | 1.46× | ||
| Q4 24 | 7.84× | 1.43× | ||
| Q3 24 | 4.14× | 1.00× | ||
| Q2 24 | 3.94× | 1.03× | ||
| Q1 24 | 3.34× | 1.06× |
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 | $-2.8M | $175.9M |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | — |
| 自由现金流率自由现金流/营收 | -47.8% | — |
| 资本支出强度资本支出/营收 | 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 | $-398.5M | — |
8季度趋势，按日历期对齐
经营现金流FIPGSAT
| Q4 25 | $-2.8M | $175.9M | ||
| Q3 25 | $-24.4M | $236.0M | ||
| Q2 25 | $-5.2M | $157.9M | ||
| Q1 25 | $-85.7M | $51.9M | ||
| Q4 24 | $-8.1M | $340.7M | ||
| Q3 24 | $14.2M | $32.0M | ||
| Q2 24 | $-17.6M | $36.7M | ||
| Q1 24 | $-3.9M | $29.8M |
自由现金流FIPGSAT
| 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 | — | ||
| Q1 24 | $-16.7M | — |
自由现金流率FIPGSAT
| 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% | — | ||
| Q1 24 | -20.3% | — |
资本支出强度FIPGSAT
| 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% | — | ||
| Q1 24 | 15.6% | — |
现金转化率FIPGSAT
| Q4 25 | — | — | ||
| Q3 25 | — | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
| 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% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
