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FTAI Infrastructure Inc.（FIP）与MACERICH CO（MAC）财务数据对比。点击上方公司名可切换其他公司
MACERICH CO的季度营收约是FTAI Infrastructure Inc.的1.8倍（$261.7M vs $143.5M），MACERICH CO净利率更高（-7.2% vs -68.1%，领先60.9%），FTAI Infrastructure Inc.同比增速更快（77.7% vs -4.4%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 12.0%）
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。
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
FIP vs MAC — 直观对比
营收规模更大
MAC
是对方的1.8倍
$143.5M
营收增速更快
FIP
高出82.1%
-4.4%
净利率更高
MAC
高出60.9%
-68.1%
两年增速更快
FIP
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $261.7M |
| 净利润 | $-97.7M | $-18.8M |
| 毛利率 | — | — |
| 营业利润率 | -45.7% | — |
| 净利率 | -68.1% | -7.2% |
| 营收同比 | 77.7% | -4.4% |
| 净利润同比 | 21.6% | 91.1% |
| 每股收益（稀释后） | $-1.04 | $-0.08 |
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FIPMAC
| Q4 25 | $143.5M | $261.7M | ||
| Q3 25 | $140.6M | $253.3M | ||
| Q2 25 | $122.3M | $249.8M | ||
| Q1 25 | $96.2M | $249.2M | ||
| Q4 24 | $80.8M | $273.7M | ||
| Q3 24 | $83.3M | $220.2M | ||
| Q2 24 | $84.9M | $215.5M | ||
| Q1 24 | $82.5M | $208.8M |
净利润FIPMAC
| Q4 25 | $-97.7M | $-18.8M | ||
| Q3 25 | $-104.5M | $-87.4M | ||
| Q2 25 | $-70.0M | $-40.9M | ||
| Q1 25 | $120.2M | $-50.1M | ||
| Q4 24 | $-124.7M | $-211.2M | ||
| Q3 24 | $-43.0M | $-108.2M | ||
| Q2 24 | $-48.1M | $252.0M | ||
| Q1 24 | $-50.3M | $-126.7M |
营业利润率FIPMAC
| Q4 25 | -45.7% | — | ||
| Q3 25 | -70.8% | — | ||
| Q2 25 | -56.4% | — | ||
| Q1 25 | 81.8% | — | ||
| Q4 24 | -152.7% | — | ||
| Q3 24 | -51.7% | — | ||
| Q2 24 | -56.4% | — | ||
| Q1 24 | -58.8% | — |
净利率FIPMAC
| Q4 25 | -68.1% | -7.2% | ||
| Q3 25 | -74.4% | -34.5% | ||
| Q2 25 | -57.2% | -16.4% | ||
| Q1 25 | 125.0% | -20.1% | ||
| Q4 24 | -154.4% | -77.2% | ||
| Q3 24 | -51.6% | -49.1% | ||
| Q2 24 | -56.7% | 116.9% | ||
| Q1 24 | -60.9% | -60.7% |
每股收益（稀释后）FIPMAC
| Q4 25 | $-1.04 | $-0.08 | ||
| Q3 25 | $-1.38 | $-0.34 | ||
| Q2 25 | $-0.73 | $-0.16 | ||
| Q1 25 | $0.89 | $-0.20 | ||
| Q4 24 | $-1.21 | $-0.95 | ||
| Q3 24 | $-0.45 | $-0.50 | ||
| Q2 24 | $-0.52 | $1.16 | ||
| Q1 24 | $-0.54 | $-0.59 |
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 | $280.2M |
| 总债务越低越好 | $3.8B | $5.1B |
| 股东权益账面价值 | $21.3M | $2.4B |
| 总资产 | $5.7B | $8.4B |
| 负债/权益比越低杠杆越低 | 176.99× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资FIPMAC
| Q4 25 | $57.4M | $280.2M | ||
| Q3 25 | $34.7M | $290.2M | ||
| Q2 25 | $33.6M | $131.1M | ||
| Q1 25 | $26.3M | $253.2M | ||
| Q4 24 | $27.8M | $89.9M | ||
| Q3 24 | $20.3M | $116.5M | ||
| Q2 24 | $33.1M | $70.7M | ||
| Q1 24 | $23.0M | $120.1M |
总债务FIPMAC
| Q4 25 | $3.8B | $5.1B | ||
| Q3 25 | $3.7B | $5.1B | ||
| Q2 25 | $3.1B | $5.2B | ||
| Q1 25 | $2.8B | $5.2B | ||
| Q4 24 | $1.6B | $4.9B | ||
| Q3 24 | $1.5B | $4.3B | ||
| Q2 24 | $1.6B | $4.4B | ||
| Q1 24 | $1.3B | $4.1B |
股东权益FIPMAC
| Q4 25 | $21.3M | $2.4B | ||
| Q3 25 | $181.1M | $2.5B | ||
| Q2 25 | $375.5M | $2.6B | ||
| Q1 25 | $476.2M | $2.7B | ||
| Q4 24 | $202.7M | $2.8B | ||
| Q3 24 | $370.8M | $2.5B | ||
| Q2 24 | $394.8M | $2.5B | ||
| Q1 24 | $402.5M | $2.3B |
总资产FIPMAC
| Q4 25 | $5.7B | $8.4B | ||
| Q3 25 | $5.5B | $8.4B | ||
| Q2 25 | $4.4B | $8.7B | ||
| Q1 25 | $4.1B | $8.7B | ||
| Q4 24 | $2.4B | $8.6B | ||
| Q3 24 | $2.4B | $7.6B | ||
| Q2 24 | $2.5B | $7.8B | ||
| Q1 24 | $2.3B | $7.4B |
负债/权益比FIPMAC
| Q4 25 | 176.99× | 2.07× | ||
| Q3 25 | 20.59× | 2.02× | ||
| Q2 25 | 8.21× | 2.02× | ||
| Q1 25 | 5.79× | 1.96× | ||
| Q4 24 | 7.84× | 1.78× | ||
| Q3 24 | 4.14× | 1.73× | ||
| Q2 24 | 3.94× | 1.75× | ||
| Q1 24 | 3.34× | 1.79× |
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 | $50.2M |
| 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FIPMAC
| Q4 25 | $-2.8M | $50.2M | ||
| Q3 25 | $-24.4M | $112.4M | ||
| Q2 25 | $-5.2M | $70.5M | ||
| Q1 25 | $-85.7M | $88.5M | ||
| Q4 24 | $-8.1M | $54.9M | ||
| Q3 24 | $14.2M | $100.0M | ||
| Q2 24 | $-17.6M | $67.4M | ||
| Q1 24 | $-3.9M | $61.1M |
自由现金流FIPMAC
| 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FIPMAC
| 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FIPMAC
| 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FIPMAC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.27× | ||
| 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% |
MAC
暂无分部数据
