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FTAI Infrastructure Inc.（FIP）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Ribbon Communications Inc.的季度营收约是FTAI Infrastructure Inc.的1.1倍（$162.6M vs $143.5M），Ribbon Communications Inc.净利率更高（54.8% vs -68.1%，领先122.9%），FTAI Infrastructure Inc.同比增速更快（77.7% vs -10.3%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs -8.1%）
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。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
FIP vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.1倍
$143.5M
营收增速更快
FIP
高出88.0%
-10.3%
净利率更高
RBBN
高出122.9%
-68.1%
两年增速更快
FIP
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $162.6M |
| 净利润 | $-97.7M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | -45.7% | 37.6% |
| 净利率 | -68.1% | 54.8% |
| 营收同比 | 77.7% | -10.3% |
| 净利润同比 | 21.6% | — |
| 每股收益（稀释后） | $-1.04 | $0.50 |
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FIPRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $143.5M | $227.3M | ||
| Q3 25 | $140.6M | $215.4M | ||
| Q2 25 | $122.3M | $220.6M | ||
| Q1 25 | $96.2M | $181.3M | ||
| Q4 24 | $80.8M | $251.4M | ||
| Q3 24 | $83.3M | $210.2M | ||
| Q2 24 | $84.9M | $192.6M |
净利润FIPRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-97.7M | — | ||
| Q3 25 | $-104.5M | $-12.1M | ||
| Q2 25 | $-70.0M | $-11.1M | ||
| Q1 25 | $120.2M | $-26.2M | ||
| Q4 24 | $-124.7M | — | ||
| Q3 24 | $-43.0M | $-13.4M | ||
| Q2 24 | $-48.1M | $-16.8M |
毛利率FIPRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率FIPRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -45.7% | 4.1% | ||
| Q3 25 | -70.8% | 1.3% | ||
| Q2 25 | -56.4% | 1.9% | ||
| Q1 25 | 81.8% | -10.8% | ||
| Q4 24 | -152.7% | 13.2% | ||
| Q3 24 | -51.7% | -0.4% | ||
| Q2 24 | -56.4% | -1.0% |
净利率FIPRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -68.1% | — | ||
| Q3 25 | -74.4% | -5.6% | ||
| Q2 25 | -57.2% | -5.0% | ||
| Q1 25 | 125.0% | -14.5% | ||
| Q4 24 | -154.4% | — | ||
| Q3 24 | -51.6% | -6.4% | ||
| Q2 24 | -56.7% | -8.7% |
每股收益（稀释后）FIPRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-1.04 | $0.50 | ||
| Q3 25 | $-1.38 | $-0.07 | ||
| Q2 25 | $-0.73 | $-0.06 | ||
| Q1 25 | $0.89 | $-0.15 | ||
| Q4 24 | $-1.21 | $0.05 | ||
| Q3 24 | $-0.45 | $-0.08 | ||
| Q2 24 | $-0.52 | $-0.10 |
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 | $67.6M |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | $21.3M | $419.1M |
| 总资产 | $5.7B | — |
| 负债/权益比越低杠杆越低 | 176.99× | — |
8季度趋势，按日历期对齐
现金及短期投资FIPRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $57.4M | $96.4M | ||
| Q3 25 | $34.7M | $74.8M | ||
| Q2 25 | $33.6M | $60.5M | ||
| Q1 25 | $26.3M | $71.2M | ||
| Q4 24 | $27.8M | $87.8M | ||
| Q3 24 | $20.3M | $37.2M | ||
| Q2 24 | $33.1M | $64.6M |
总债务FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | $342.1M | ||
| Q3 25 | $3.7B | $344.3M | ||
| Q2 25 | $3.1B | $346.5M | ||
| Q1 25 | $2.8B | $347.4M | ||
| Q4 24 | $1.6B | $348.3M | ||
| Q3 24 | $1.5B | $349.1M | ||
| Q2 24 | $1.6B | $350.0M |
股东权益FIPRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $21.3M | $449.0M | ||
| Q3 25 | $181.1M | $360.1M | ||
| Q2 25 | $375.5M | $370.4M | ||
| Q1 25 | $476.2M | $381.8M | ||
| Q4 24 | $202.7M | $404.6M | ||
| Q3 24 | $370.8M | $395.5M | ||
| Q2 24 | $394.8M | $405.0M |
总资产FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $1.2B | ||
| Q3 25 | $5.5B | $1.1B | ||
| Q2 25 | $4.4B | $1.1B | ||
| Q1 25 | $4.1B | $1.1B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.5B | $1.1B |
负债/权益比FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | 176.99× | 0.76× | ||
| Q3 25 | 20.59× | 0.96× | ||
| Q2 25 | 8.21× | 0.94× | ||
| Q1 25 | 5.79× | 0.91× | ||
| Q4 24 | 7.84× | 0.86× | ||
| Q3 24 | 4.14× | 0.88× | ||
| Q2 24 | 3.94× | 0.86× |
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FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | $29.2M | ||
| Q3 25 | $-24.4M | $26.5M | ||
| Q2 25 | $-5.2M | $-795.0K | ||
| Q1 25 | $-85.7M | $-3.5M | ||
| Q4 24 | $-8.1M | $61.8M | ||
| Q3 24 | $14.2M | $-14.8M | ||
| Q2 24 | $-17.6M | $-9.8M |
自由现金流FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-68.6M | $27.3M | ||
| Q3 25 | $-90.7M | $21.0M | ||
| Q2 25 | $-87.5M | $-6.5M | ||
| Q1 25 | $-151.7M | $-15.7M | ||
| Q4 24 | $-34.3M | $53.8M | ||
| Q3 24 | $-11.7M | $-23.7M | ||
| Q2 24 | $-32.1M | $-12.9M |
自由现金流率FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | -47.8% | 12.0% | ||
| Q3 25 | -64.5% | 9.7% | ||
| Q2 25 | -71.6% | -2.9% | ||
| Q1 25 | -157.7% | -8.7% | ||
| Q4 24 | -42.4% | 21.4% | ||
| Q3 24 | -14.0% | -11.3% | ||
| Q2 24 | -37.9% | -6.7% |
资本支出强度FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | 45.9% | 0.9% | ||
| Q3 25 | 47.2% | 2.6% | ||
| Q2 25 | 67.3% | 2.6% | ||
| Q1 25 | 68.6% | 6.7% | ||
| Q4 24 | 32.5% | 3.2% | ||
| Q3 24 | 31.1% | 4.2% | ||
| Q2 24 | 17.2% | 1.6% |
现金转化率FIPRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
