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FTAI Infrastructure Inc.（FIP）与微策略（MSTR）财务数据对比。点击上方公司名可切换其他公司
FTAI Infrastructure Inc.的季度营收约是微策略的1.2倍（$143.5M vs $123.0M），FTAI Infrastructure Inc.同比增速更快（77.7% vs 1.9%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 3.3%）
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。
Strategy Inc（原名为微策略）是1989年成立的美国上市企业，主营商业智能与移动软件业务，旗下产品可帮助企业分析内外部数据以支撑经营决策，还可用于移动应用开发，总部位于弗吉尼亚州泰森斯角，商业分析赛道核心竞品包括SAP等。
FIP vs MSTR — 直观对比
营收规模更大
FIP
是对方的1.2倍
$123.0M
营收增速更快
FIP
高出75.8%
1.9%
两年增速更快
FIP
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $123.0M |
| 净利润 | $-97.7M | — |
| 毛利率 | — | 66.1% |
| 营业利润率 | -45.7% | — |
| 净利率 | -68.1% | — |
| 营收同比 | 77.7% | 1.9% |
| 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FIPMSTR
| Q4 25 | $143.5M | $123.0M | ||
| Q3 25 | $140.6M | $128.7M | ||
| Q2 25 | $122.3M | $114.5M | ||
| Q1 25 | $96.2M | $111.1M | ||
| Q4 24 | $80.8M | $120.7M | ||
| Q3 24 | $83.3M | $116.1M | ||
| Q2 24 | $84.9M | $111.4M | ||
| Q1 24 | $82.5M | $115.2M |
净利润FIPMSTR
| Q4 25 | $-97.7M | — | ||
| Q3 25 | $-104.5M | $2.8B | ||
| Q2 25 | $-70.0M | $10.0B | ||
| Q1 25 | $120.2M | $-4.2B | ||
| Q4 24 | $-124.7M | $-670.8M | ||
| Q3 24 | $-43.0M | $-340.2M | ||
| Q2 24 | $-48.1M | $-102.6M | ||
| Q1 24 | $-50.3M | $-53.1M |
毛利率FIPMSTR
| Q4 25 | — | 66.1% | ||
| Q3 25 | — | 70.5% | ||
| Q2 25 | — | 68.8% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 71.7% | ||
| Q3 24 | — | 70.4% | ||
| Q2 24 | — | 72.2% | ||
| Q1 24 | — | 74.0% |
营业利润率FIPMSTR
| Q4 25 | -45.7% | — | ||
| Q3 25 | -70.8% | — | ||
| Q2 25 | -56.4% | — | ||
| Q1 25 | 81.8% | -5331.4% | ||
| Q4 24 | -152.7% | -842.1% | ||
| Q3 24 | -51.7% | -372.7% | ||
| Q2 24 | -56.4% | -179.7% | ||
| Q1 24 | -58.8% | -176.8% |
净利率FIPMSTR
| Q4 25 | -68.1% | — | ||
| Q3 25 | -74.4% | 2164.1% | ||
| Q2 25 | -57.2% | 8752.7% | ||
| Q1 25 | 125.0% | -3797.2% | ||
| Q4 24 | -154.4% | -555.8% | ||
| Q3 24 | -51.6% | -293.1% | ||
| Q2 24 | -56.7% | -92.0% | ||
| Q1 24 | -60.9% | -46.1% |
每股收益（稀释后）FIPMSTR
| Q4 25 | $-1.04 | — | ||
| Q3 25 | $-1.38 | $8.42 | ||
| Q2 25 | $-0.73 | $32.60 | ||
| Q1 25 | $0.89 | $-16.49 | ||
| Q4 24 | $-1.21 | $4.49 | ||
| Q3 24 | $-0.45 | $-1.72 | ||
| Q2 24 | $-0.52 | $-0.57 | ||
| Q1 24 | $-0.54 | $-0.31 |
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 | $2.3B |
| 总债务越低越好 | $3.8B | $8.2B |
| 股东权益账面价值 | $21.3M | $44.1B |
| 总资产 | $5.7B | $61.6B |
| 负债/权益比越低杠杆越低 | 176.99× | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资FIPMSTR
| Q4 25 | $57.4M | $2.3B | ||
| Q3 25 | $34.7M | $54.3M | ||
| Q2 25 | $33.6M | $50.1M | ||
| Q1 25 | $26.3M | $60.3M | ||
| Q4 24 | $27.8M | $38.1M | ||
| Q3 24 | $20.3M | $46.3M | ||
| Q2 24 | $33.1M | $66.9M | ||
| Q1 24 | $23.0M | $81.3M |
总债务FIPMSTR
| Q4 25 | $3.8B | $8.2B | ||
| Q3 25 | $3.7B | $8.2B | ||
| Q2 25 | $3.1B | $8.2B | ||
| Q1 25 | $2.8B | $8.1B | ||
| Q4 24 | $1.6B | $7.2B | ||
| Q3 24 | $1.5B | $4.2B | ||
| Q2 24 | $1.6B | $3.8B | ||
| Q1 24 | $1.3B | $3.6B |
股东权益FIPMSTR
| Q4 25 | $21.3M | $44.1B | ||
| Q3 25 | $181.1M | $52.3B | ||
| Q2 25 | $375.5M | $47.5B | ||
| Q1 25 | $476.2M | $32.2B | ||
| Q4 24 | $202.7M | $18.2B | ||
| Q3 24 | $370.8M | $3.8B | ||
| Q2 24 | $394.8M | $2.8B | ||
| Q1 24 | $402.5M | $2.4B |
总资产FIPMSTR
| Q4 25 | $5.7B | $61.6B | ||
| Q3 25 | $5.5B | $73.6B | ||
| Q2 25 | $4.4B | $64.8B | ||
| Q1 25 | $4.1B | $43.9B | ||
| Q4 24 | $2.4B | $25.8B | ||
| Q3 24 | $2.4B | $8.3B | ||
| Q2 24 | $2.5B | $7.1B | ||
| Q1 24 | $2.3B | $6.4B |
负债/权益比FIPMSTR
| Q4 25 | 176.99× | 0.19× | ||
| Q3 25 | 20.59× | 0.16× | ||
| Q2 25 | 8.21× | 0.17× | ||
| Q1 25 | 5.79× | 0.25× | ||
| Q4 24 | 7.84× | 0.39× | ||
| Q3 24 | 4.14× | 1.12× | ||
| Q2 24 | 3.94× | 1.36× | ||
| Q1 24 | 3.34× | 1.48× |
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 | — |
| 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FIPMSTR
| Q4 25 | $-2.8M | — | ||
| Q3 25 | $-24.4M | $-8.3M | ||
| Q2 25 | $-5.2M | $-34.9M | ||
| Q1 25 | $-85.7M | $-2.4M | ||
| Q4 24 | $-8.1M | $-17.3M | ||
| Q3 24 | $14.2M | $-41.0M | ||
| Q2 24 | $-17.6M | $-23.3M | ||
| Q1 24 | $-3.9M | $28.6M |
自由现金流FIPMSTR
| Q4 25 | $-68.6M | — | ||
| Q3 25 | $-90.7M | $-11.1M | ||
| Q2 25 | $-87.5M | $-37.0M | ||
| Q1 25 | $-151.7M | $-5.1M | ||
| Q4 24 | $-34.3M | $-17.6M | ||
| Q3 24 | $-11.7M | $-41.4M | ||
| Q2 24 | $-32.1M | $-24.1M | ||
| Q1 24 | $-16.7M | $27.0M |
自由现金流率FIPMSTR
| Q4 25 | -47.8% | — | ||
| Q3 25 | -64.5% | -8.6% | ||
| Q2 25 | -71.6% | -32.3% | ||
| Q1 25 | -157.7% | -4.6% | ||
| Q4 24 | -42.4% | -14.6% | ||
| Q3 24 | -14.0% | -35.7% | ||
| Q2 24 | -37.9% | -21.6% | ||
| Q1 24 | -20.3% | 23.5% |
资本支出强度FIPMSTR
| Q4 25 | 45.9% | — | ||
| Q3 25 | 47.2% | 2.2% | ||
| Q2 25 | 67.3% | 1.8% | ||
| Q1 25 | 68.6% | 2.5% | ||
| Q4 24 | 32.5% | 0.2% | ||
| Q3 24 | 31.1% | 0.4% | ||
| Q2 24 | 17.2% | 0.6% | ||
| Q1 24 | 15.6% | 1.3% |
现金转化率FIPMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | -0.00× | ||
| Q2 25 | — | -0.00× | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
MSTR
暂无分部数据
