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FTAI Infrastructure Inc.（FIP）与印度钢铁管理局（SAIL）财务数据对比。点击上方公司名可切换其他公司
印度钢铁管理局的季度营收约是FTAI Infrastructure Inc.的2.0倍（$281.9M vs $143.5M），印度钢铁管理局净利率更高（-12.8% vs -68.1%，领先55.3%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 6.7%），印度钢铁管理局自由现金流更多（$52.5M vs $-68.6M）
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。
印度钢铁管理局（SAIL）是总部位于新德里的印度公营钢铁制造企业，属印度最高级别的“马哈拉特纳”中央公共部门企业，是印度最大的国有钢铁生产商，年钢铁产量达1829万吨，1973年1月24日成立，现有员工5.1万余名，由印度钢铁部行政管理。
FIP vs SAIL — 直观对比
营收规模更大
SAIL
是对方的2.0倍
$143.5M
营收增速更快
FIP
高出71.0%
6.7%
净利率更高
SAIL
高出55.3%
-68.1%
自由现金流更多
SAIL
多$121.2M
$-68.6M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $281.9M |
| 净利润 | $-97.7M | $-36.0M |
| 毛利率 | — | 66.3% |
| 营业利润率 | -45.7% | -14.8% |
| 净利率 | -68.1% | -12.8% |
| 营收同比 | 77.7% | 6.7% |
| 净利润同比 | 21.6% | -240.9% |
| 每股收益（稀释后） | $-1.04 | $-0.06 |
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FIPSAIL
| Q4 25 | $143.5M | $281.9M | ||
| Q3 25 | $140.6M | $264.4M | ||
| Q2 25 | $122.3M | $230.5M | ||
| Q1 25 | $96.2M | $240.1M | ||
| Q4 24 | $80.8M | — | ||
| Q3 24 | $83.3M | $198.6M | ||
| Q2 24 | $84.9M | $187.7M | ||
| Q1 24 | $82.5M | — |
净利润FIPSAIL
| Q4 25 | $-97.7M | $-36.0M | ||
| Q3 25 | $-104.5M | $-10.6M | ||
| Q2 25 | $-70.0M | $-187.3M | ||
| Q1 25 | $120.2M | $-80.1M | ||
| Q4 24 | $-124.7M | — | ||
| Q3 24 | $-43.0M | $-87.1M | ||
| Q2 24 | $-48.1M | $-89.2M | ||
| Q1 24 | $-50.3M | — |
毛利率FIPSAIL
| Q4 25 | — | 66.3% | ||
| Q3 25 | — | 67.3% | ||
| Q2 25 | — | 55.4% | ||
| Q1 25 | — | 66.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 62.1% | ||
| Q2 24 | — | 61.5% | ||
| Q1 24 | — | — |
营业利润率FIPSAIL
| Q4 25 | -45.7% | -14.8% | ||
| Q3 25 | -70.8% | -15.4% | ||
| Q2 25 | -56.4% | -80.3% | ||
| Q1 25 | 81.8% | -12.6% | ||
| Q4 24 | -152.7% | — | ||
| Q3 24 | -51.7% | -33.2% | ||
| Q2 24 | -56.4% | -36.3% | ||
| Q1 24 | -58.8% | — |
净利率FIPSAIL
| Q4 25 | -68.1% | -12.8% | ||
| Q3 25 | -74.4% | -4.0% | ||
| Q2 25 | -57.2% | -81.3% | ||
| Q1 25 | 125.0% | -33.4% | ||
| Q4 24 | -154.4% | — | ||
| Q3 24 | -51.6% | -43.9% | ||
| Q2 24 | -56.7% | -47.5% | ||
| Q1 24 | -60.9% | — |
每股收益（稀释后）FIPSAIL
| Q4 25 | $-1.04 | $-0.06 | ||
| Q3 25 | $-1.38 | $-0.02 | ||
| Q2 25 | $-0.73 | $-0.42 | ||
| Q1 25 | $0.89 | $-6.50 | ||
| Q4 24 | $-1.21 | — | ||
| Q3 24 | $-0.45 | $-2.97 | ||
| Q2 24 | $-0.52 | $-0.77 | ||
| 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 | $298.1M |
| 总债务越低越好 | $3.8B | $0 |
| 股东权益账面价值 | $21.3M | $6.8B |
| 总资产 | $5.7B | $7.5B |
| 负债/权益比越低杠杆越低 | 176.99× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资FIPSAIL
| Q4 25 | $57.4M | $298.1M | ||
| Q3 25 | $34.7M | $271.1M | ||
| Q2 25 | $33.6M | $228.1M | ||
| Q1 25 | $26.3M | $121.3M | ||
| Q4 24 | $27.8M | — | ||
| Q3 24 | $20.3M | $89.7M | ||
| Q2 24 | $33.1M | $146.8M | ||
| Q1 24 | $23.0M | — |
总债务FIPSAIL
| Q4 25 | $3.8B | $0 | ||
| Q3 25 | $3.7B | $0 | ||
| Q2 25 | $3.1B | $0 | ||
| Q1 25 | $2.8B | $1.0B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.3B | — |
股东权益FIPSAIL
| Q4 25 | $21.3M | $6.8B | ||
| Q3 25 | $181.1M | $6.8B | ||
| Q2 25 | $375.5M | $6.8B | ||
| Q1 25 | $476.2M | $-5.6B | ||
| Q4 24 | $202.7M | — | ||
| Q3 24 | $370.8M | $-701.3M | ||
| Q2 24 | $394.8M | $-622.5M | ||
| Q1 24 | $402.5M | — |
总资产FIPSAIL
| Q4 25 | $5.7B | $7.5B | ||
| Q3 25 | $5.5B | $7.4B | ||
| Q2 25 | $4.4B | $7.4B | ||
| Q1 25 | $4.1B | $7.4B | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.3B | — |
负债/权益比FIPSAIL
| Q4 25 | 176.99× | 0.00× | ||
| Q3 25 | 20.59× | 0.00× | ||
| Q2 25 | 8.21× | 0.00× | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 7.84× | — | ||
| Q3 24 | 4.14× | — | ||
| Q2 24 | 3.94× | — | ||
| Q1 24 | 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 | $53.6M |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | $52.5M |
| 自由现金流率自由现金流/营收 | -47.8% | 18.6% |
| 资本支出强度资本支出/营收 | 45.9% | 0.4% |
| 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FIPSAIL
| Q4 25 | $-2.8M | $53.6M | ||
| Q3 25 | $-24.4M | $49.9M | ||
| Q2 25 | $-5.2M | $-96.8M | ||
| Q1 25 | $-85.7M | — | ||
| Q4 24 | $-8.1M | — | ||
| Q3 24 | $14.2M | — | ||
| Q2 24 | $-17.6M | $-55.4M | ||
| Q1 24 | $-3.9M | — |
自由现金流FIPSAIL
| Q4 25 | $-68.6M | $52.5M | ||
| Q3 25 | $-90.7M | $49.0M | ||
| Q2 25 | $-87.5M | $-99.0M | ||
| Q1 25 | $-151.7M | — | ||
| Q4 24 | $-34.3M | — | ||
| Q3 24 | $-11.7M | — | ||
| Q2 24 | $-32.1M | $-56.0M | ||
| Q1 24 | $-16.7M | — |
自由现金流率FIPSAIL
| Q4 25 | -47.8% | 18.6% | ||
| Q3 25 | -64.5% | 18.5% | ||
| Q2 25 | -71.6% | -43.0% | ||
| Q1 25 | -157.7% | — | ||
| Q4 24 | -42.4% | — | ||
| Q3 24 | -14.0% | — | ||
| Q2 24 | -37.9% | -29.8% | ||
| Q1 24 | -20.3% | — |
资本支出强度FIPSAIL
| Q4 25 | 45.9% | 0.4% | ||
| Q3 25 | 47.2% | 0.4% | ||
| Q2 25 | 67.3% | 1.0% | ||
| Q1 25 | 68.6% | — | ||
| Q4 24 | 32.5% | — | ||
| Q3 24 | 31.1% | — | ||
| Q2 24 | 17.2% | 0.3% | ||
| Q1 24 | 15.6% | — |
现金转化率FIPSAIL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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% |
SAIL
| Software As A Service Saa S | $156.0M | 55% |
| Term Subscriptions Services | $65.1M | 23% |
| Maintenance | $38.0M | 13% |
| Other | $15.7M | 6% |
| Other Subscription Services | $7.1M | 3% |
