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FTAI Infrastructure Inc.（FIP）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是FTAI Infrastructure Inc.的1.3倍（$193.5M vs $143.5M），FTAI Infrastructure Inc.同比增速更快（77.7% vs 2.8%），MARCUS CORP自由现金流更多（$26.4M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 18.2%）
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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
FIP vs MCS — 直观对比
营收规模更大
MCS
是对方的1.3倍
$143.5M
营收增速更快
FIP
高出74.9%
2.8%
自由现金流更多
MCS
多$95.0M
$-68.6M
两年增速更快
FIP
近两年复合增速
18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $193.5M |
| 净利润 | $-97.7M | — |
| 毛利率 | — | — |
| 营业利润率 | -45.7% | 0.9% |
| 净利率 | -68.1% | — |
| 营收同比 | 77.7% | 2.8% |
| 净利润同比 | 21.6% | — |
| 每股收益（稀释后） | $-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FIPMCS
| Q4 25 | $143.5M | $193.5M | ||
| Q3 25 | $140.6M | $210.2M | ||
| Q2 25 | $122.3M | $206.0M | ||
| Q1 25 | $96.2M | $148.8M | ||
| Q4 24 | $80.8M | $188.3M | ||
| Q3 24 | $83.3M | $232.7M | ||
| Q2 24 | $84.9M | $176.0M | ||
| Q1 24 | $82.5M | $138.5M |
净利润FIPMCS
| Q4 25 | $-97.7M | — | ||
| Q3 25 | $-104.5M | $16.2M | ||
| Q2 25 | $-70.0M | $7.3M | ||
| Q1 25 | $120.2M | $-16.8M | ||
| Q4 24 | $-124.7M | $986.0K | ||
| Q3 24 | $-43.0M | $23.3M | ||
| Q2 24 | $-48.1M | $-20.2M | ||
| Q1 24 | $-50.3M | $-11.9M |
营业利润率FIPMCS
| Q4 25 | -45.7% | 0.9% | ||
| Q3 25 | -70.8% | 10.8% | ||
| Q2 25 | -56.4% | 6.3% | ||
| Q1 25 | 81.8% | -13.7% | ||
| Q4 24 | -152.7% | -1.2% | ||
| Q3 24 | -51.7% | 14.1% | ||
| Q2 24 | -56.4% | 1.3% | ||
| Q1 24 | -58.8% | -12.0% |
净利率FIPMCS
| Q4 25 | -68.1% | — | ||
| Q3 25 | -74.4% | 7.7% | ||
| Q2 25 | -57.2% | 3.6% | ||
| Q1 25 | 125.0% | -11.3% | ||
| Q4 24 | -154.4% | 0.5% | ||
| Q3 24 | -51.6% | 10.0% | ||
| Q2 24 | -56.7% | -11.5% | ||
| Q1 24 | -60.9% | -8.6% |
每股收益（稀释后）FIPMCS
| Q4 25 | $-1.04 | — | ||
| Q3 25 | $-1.38 | — | ||
| Q2 25 | $-0.73 | — | ||
| Q1 25 | $0.89 | — | ||
| Q4 24 | $-1.21 | — | ||
| Q3 24 | $-0.45 | — | ||
| Q2 24 | $-0.52 | — | ||
| Q1 24 | $-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 | $57.4M | $23.4M |
| 总债务越低越好 | $3.8B | $159.0M |
| 股东权益账面价值 | $21.3M | $457.4M |
| 总资产 | $5.7B | $1.0B |
| 负债/权益比越低杠杆越低 | 176.99× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资FIPMCS
| Q4 25 | $57.4M | $23.4M | ||
| Q3 25 | $34.7M | $7.4M | ||
| Q2 25 | $33.6M | $14.9M | ||
| Q1 25 | $26.3M | $11.9M | ||
| Q4 24 | $27.8M | $40.8M | ||
| Q3 24 | $20.3M | $28.4M | ||
| Q2 24 | $33.1M | $32.8M | ||
| Q1 24 | $23.0M | $17.3M |
总债务FIPMCS
| Q4 25 | $3.8B | $159.0M | ||
| Q3 25 | $3.7B | $162.0M | ||
| Q2 25 | $3.1B | $179.9M | ||
| Q1 25 | $2.8B | $198.9M | ||
| Q4 24 | $1.6B | $159.1M | ||
| Q3 24 | $1.5B | $173.1M | ||
| Q2 24 | $1.6B | $175.7M | ||
| Q1 24 | $1.3B | $169.8M |
股东权益FIPMCS
| Q4 25 | $21.3M | $457.4M | ||
| Q3 25 | $181.1M | $454.3M | ||
| Q2 25 | $375.5M | $448.4M | ||
| Q1 25 | $476.2M | $441.8M | ||
| Q4 24 | $202.7M | $464.9M | ||
| Q3 24 | $370.8M | $462.3M | ||
| Q2 24 | $394.8M | $449.4M | ||
| Q1 24 | $402.5M | $459.3M |
总资产FIPMCS
| Q4 25 | $5.7B | $1.0B | ||
| Q3 25 | $5.5B | $1.0B | ||
| Q2 25 | $4.4B | $1.0B | ||
| Q1 25 | $4.1B | $1.0B | ||
| Q4 24 | $2.4B | $1.0B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.5B | $1.1B | ||
| Q1 24 | $2.3B | $1.0B |
负债/权益比FIPMCS
| Q4 25 | 176.99× | 0.35× | ||
| Q3 25 | 20.59× | 0.36× | ||
| Q2 25 | 8.21× | 0.40× | ||
| Q1 25 | 5.79× | 0.45× | ||
| Q4 24 | 7.84× | 0.34× | ||
| Q3 24 | 4.14× | 0.37× | ||
| Q2 24 | 3.94× | 0.39× | ||
| Q1 24 | 3.34× | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | $26.4M |
| 自由现金流率自由现金流/营收 | -47.8% | 13.6% |
| 资本支出强度资本支出/营收 | 45.9% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流FIPMCS
| Q4 25 | $-2.8M | $48.8M | ||
| Q3 25 | $-24.4M | $39.1M | ||
| Q2 25 | $-5.2M | $31.6M | ||
| Q1 25 | $-85.7M | $-35.3M | ||
| Q4 24 | $-8.1M | $52.6M | ||
| Q3 24 | $14.2M | $30.5M | ||
| Q2 24 | $-17.6M | $36.0M | ||
| Q1 24 | $-3.9M | $-15.1M |
自由现金流FIPMCS
| Q4 25 | $-68.6M | $26.4M | ||
| Q3 25 | $-90.7M | $18.2M | ||
| Q2 25 | $-87.5M | $14.7M | ||
| Q1 25 | $-151.7M | $-58.3M | ||
| Q4 24 | $-34.3M | $27.1M | ||
| Q3 24 | $-11.7M | $12.0M | ||
| Q2 24 | $-32.1M | $16.1M | ||
| Q1 24 | $-16.7M | $-30.5M |
自由现金流率FIPMCS
| Q4 25 | -47.8% | 13.6% | ||
| Q3 25 | -64.5% | 8.7% | ||
| Q2 25 | -71.6% | 7.1% | ||
| Q1 25 | -157.7% | -39.2% | ||
| Q4 24 | -42.4% | 14.4% | ||
| Q3 24 | -14.0% | 5.2% | ||
| Q2 24 | -37.9% | 9.2% | ||
| Q1 24 | -20.3% | -22.0% |
资本支出强度FIPMCS
| Q4 25 | 45.9% | 11.6% | ||
| Q3 25 | 47.2% | 9.9% | ||
| Q2 25 | 67.3% | 8.2% | ||
| Q1 25 | 68.6% | 15.5% | ||
| Q4 24 | 32.5% | 13.5% | ||
| Q3 24 | 31.1% | 7.9% | ||
| Q2 24 | 17.2% | 11.3% | ||
| Q1 24 | 15.6% | 11.1% |
现金转化率FIPMCS
| Q4 25 | — | — | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | 4.32× | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | — | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
