vs
FTAI Infrastructure Inc.（FIP）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是FTAI Infrastructure Inc.的42.0倍（$6.0B vs $143.5M）。3M净利率更高（10.8% vs -68.1%，领先78.9%）。FTAI Infrastructure Inc.同比增速更快（77.7% vs 1.3%）。3M自由现金流更多（$2.0B vs $-68.6M）。过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs -1.8%）
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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
FIP vs MMM — 直观对比
营收规模更大
MMM
是对方的42.0倍
$143.5M
营收增速更快
FIP
高出76.4%
1.3%
净利率更高
MMM
高出78.9%
-68.1%
自由现金流更多
MMM
多$2.1B
$-68.6M
两年增速更快
FIP
近两年复合增速
-1.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $6.0B |
| 净利润 | $-97.7M | $653.0M |
| 毛利率 | — | 40.7% |
| 营业利润率 | -45.7% | 23.2% |
| 净利率 | -68.1% | 10.8% |
| 营收同比 | 77.7% | 1.3% |
| 净利润同比 | 21.6% | -41.5% |
| 每股收益（稀释后） | $-1.04 | $1.23 |
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FIPMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $143.5M | $6.1B | ||
| Q3 25 | $140.6M | $6.5B | ||
| Q2 25 | $122.3M | $6.3B | ||
| Q1 25 | $96.2M | $6.0B | ||
| Q4 24 | $80.8M | $6.0B | ||
| Q3 24 | $83.3M | $6.3B | ||
| Q2 24 | $84.9M | $6.3B |
净利润FIPMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $-97.7M | $577.0M | ||
| Q3 25 | $-104.5M | $834.0M | ||
| Q2 25 | $-70.0M | $723.0M | ||
| Q1 25 | $120.2M | $1.1B | ||
| Q4 24 | $-124.7M | $728.0M | ||
| Q3 24 | $-43.0M | $1.4B | ||
| Q2 24 | $-48.1M | $1.1B |
毛利率FIPMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | — | 33.6% | ||
| Q3 25 | — | 41.8% | ||
| Q2 25 | — | 42.5% | ||
| Q1 25 | — | 41.6% | ||
| Q4 24 | — | 51.7% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 42.9% |
营业利润率FIPMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | -45.7% | 13.0% | ||
| Q3 25 | -70.8% | 22.2% | ||
| Q2 25 | -56.4% | 18.0% | ||
| Q1 25 | 81.8% | 20.9% | ||
| Q4 24 | -152.7% | 12.2% | ||
| Q3 24 | -51.7% | 20.9% | ||
| Q2 24 | -56.4% | 20.3% |
净利率FIPMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | -68.1% | 9.4% | ||
| Q3 25 | -74.4% | 12.8% | ||
| Q2 25 | -57.2% | 11.4% | ||
| Q1 25 | 125.0% | 18.7% | ||
| Q4 24 | -154.4% | 12.1% | ||
| Q3 24 | -51.6% | 21.8% | ||
| Q2 24 | -56.7% | 18.3% |
每股收益（稀释后）FIPMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $-1.04 | $1.07 | ||
| Q3 25 | $-1.38 | $1.55 | ||
| Q2 25 | $-0.73 | $1.34 | ||
| Q1 25 | $0.89 | $2.04 | ||
| Q4 24 | $-1.21 | $1.33 | ||
| Q3 24 | $-0.45 | $2.48 | ||
| Q2 24 | $-0.52 | $2.07 |
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 | $3.7B |
| 总债务越低越好 | $3.8B | $10.9B |
| 股东权益账面价值 | $21.3M | $3.3B |
| 总资产 | $5.7B | $35.4B |
| 负债/权益比越低杠杆越低 | 176.99× | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资FIPMMM
| Q1 26 | — | $3.7B | ||
| 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FIPMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | $3.8B | $12.6B | ||
| Q3 25 | $3.7B | $12.6B | ||
| Q2 25 | $3.1B | $13.1B | ||
| Q1 25 | $2.8B | $13.5B | ||
| Q4 24 | $1.6B | $13.0B | ||
| Q3 24 | $1.5B | $13.2B | ||
| Q2 24 | $1.6B | $13.1B |
股东权益FIPMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $21.3M | $4.7B | ||
| Q3 25 | $181.1M | $4.6B | ||
| Q2 25 | $375.5M | $4.3B | ||
| Q1 25 | $476.2M | $4.5B | ||
| Q4 24 | $202.7M | $3.8B | ||
| Q3 24 | $370.8M | $4.6B | ||
| Q2 24 | $394.8M | $3.9B |
总资产FIPMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $5.7B | $37.7B | ||
| Q3 25 | $5.5B | $37.6B | ||
| Q2 25 | $4.4B | $38.0B | ||
| Q1 25 | $4.1B | $40.0B | ||
| Q4 24 | $2.4B | $39.9B | ||
| Q3 24 | $2.4B | $40.9B | ||
| Q2 24 | $2.5B | $43.4B |
负债/权益比FIPMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | 176.99× | 2.68× | ||
| Q3 25 | 20.59× | 2.72× | ||
| Q2 25 | 8.21× | 3.06× | ||
| Q1 25 | 5.79× | 3.02× | ||
| Q4 24 | 7.84× | 3.40× | ||
| Q3 24 | 4.14× | 2.84× | ||
| Q2 24 | 3.94× | 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 | $-2.8M | — |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | $2.0B |
| 自由现金流率自由现金流/营收 | -47.8% | 33.6% |
| 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 | $3.7B |
8季度趋势，按日历期对齐
经营现金流FIPMMM
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | $1.6B | ||
| Q3 25 | $-24.4M | $1.8B | ||
| Q2 25 | $-5.2M | $-954.0M | ||
| Q1 25 | $-85.7M | $-79.0M | ||
| Q4 24 | $-8.1M | $1.8B | ||
| Q3 24 | $14.2M | $-1.8B | ||
| Q2 24 | $-17.6M | $1.0B |
自由现金流FIPMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $-68.6M | $1.3B | ||
| Q3 25 | $-90.7M | $1.5B | ||
| Q2 25 | $-87.5M | $-1.2B | ||
| Q1 25 | $-151.7M | $-315.0M | ||
| Q4 24 | $-34.3M | $1.5B | ||
| Q3 24 | $-11.7M | $-2.0B | ||
| Q2 24 | $-32.1M | $752.0M |
自由现金流率FIPMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | -47.8% | 21.8% | ||
| Q3 25 | -64.5% | 23.6% | ||
| Q2 25 | -71.6% | -18.3% | ||
| Q1 25 | -157.7% | -5.3% | ||
| Q4 24 | -42.4% | 25.4% | ||
| Q3 24 | -14.0% | -32.3% | ||
| Q2 24 | -37.9% | 12.0% |
资本支出强度FIPMMM
| Q1 26 | — | — | ||
| Q4 25 | 45.9% | 4.0% | ||
| Q3 25 | 47.2% | 3.3% | ||
| Q2 25 | 67.3% | 3.3% | ||
| Q1 25 | 68.6% | 4.0% | ||
| Q4 24 | 32.5% | 4.8% | ||
| Q3 24 | 31.1% | 3.9% | ||
| Q2 24 | 17.2% | 4.3% |
现金转化率FIPMMM
| Q1 26 | — | — | ||
| Q4 25 | — | 2.74× | ||
| Q3 25 | — | 2.11× | ||
| Q2 25 | — | -1.32× | ||
| Q1 25 | -0.71× | -0.07× | ||
| Q4 24 | — | 2.50× | ||
| Q3 24 | — | -1.30× | ||
| Q2 24 | — | 0.89× |
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% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
