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FTAI Infrastructure Inc.（FIP）与Turning Point Brands, Inc.（TPB）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Turning Point Brands, Inc.的1.2倍（$143.5M vs $121.0M），Turning Point Brands, Inc.净利率更高（6.8% vs -68.1%，领先74.9%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 29.2%），Turning Point Brands, Inc.自由现金流更多（$21.5M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 20.7%）
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。
Turning Point Australia（TPAUS）是一家位于澳大利亚的保守派游说团体，隶属于美国转折点组织但保持独立运营，由乔尔·贾马尔创立并于2023年完成注册。该团体目前正积极行动，试图影响2026年3月举行的南澳大利亚州选举结果。
FIP vs TPB — 直观对比
营收规模更大
FIP
是对方的1.2倍
$121.0M
营收增速更快
FIP
高出48.5%
29.2%
净利率更高
TPB
高出74.9%
-68.1%
自由现金流更多
TPB
多$90.1M
$-68.6M
两年增速更快
FIP
近两年复合增速
20.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $121.0M |
| 净利润 | $-97.7M | $8.2M |
| 毛利率 | — | 55.9% |
| 营业利润率 | -45.7% | 16.5% |
| 净利率 | -68.1% | 6.8% |
| 营收同比 | 77.7% | 29.2% |
| 净利润同比 | 21.6% | 239.8% |
| 每股收益（稀释后） | $-1.04 | $0.40 |
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FIPTPB
| Q4 25 | $143.5M | $121.0M | ||
| Q3 25 | $140.6M | $119.0M | ||
| Q2 25 | $122.3M | $116.6M | ||
| Q1 25 | $96.2M | $106.4M | ||
| Q4 24 | $80.8M | $93.7M | ||
| Q3 24 | $83.3M | $90.7M | ||
| Q2 24 | $84.9M | $93.2M | ||
| Q1 24 | $82.5M | $83.1M |
净利润FIPTPB
| Q4 25 | $-97.7M | $8.2M | ||
| Q3 25 | $-104.5M | $21.1M | ||
| Q2 25 | $-70.0M | $14.5M | ||
| Q1 25 | $120.2M | $14.4M | ||
| Q4 24 | $-124.7M | $2.4M | ||
| Q3 24 | $-43.0M | $12.4M | ||
| Q2 24 | $-48.1M | $13.0M | ||
| Q1 24 | $-50.3M | $12.0M |
毛利率FIPTPB
| Q4 25 | — | 55.9% | ||
| Q3 25 | — | 59.2% | ||
| Q2 25 | — | 57.1% | ||
| Q1 25 | — | 56.0% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | — | 55.6% | ||
| Q2 24 | — | 54.1% | ||
| Q1 24 | — | 58.2% |
营业利润率FIPTPB
| Q4 25 | -45.7% | 16.5% | ||
| Q3 25 | -70.8% | 21.8% | ||
| Q2 25 | -56.4% | 22.6% | ||
| Q1 25 | 81.8% | 21.8% | ||
| Q4 24 | -152.7% | 19.1% | ||
| Q3 24 | -51.7% | 22.9% | ||
| Q2 24 | -56.4% | 24.5% | ||
| Q1 24 | -58.8% | 23.2% |
净利率FIPTPB
| Q4 25 | -68.1% | 6.8% | ||
| Q3 25 | -74.4% | 17.7% | ||
| Q2 25 | -57.2% | 12.4% | ||
| Q1 25 | 125.0% | 13.5% | ||
| Q4 24 | -154.4% | 2.6% | ||
| Q3 24 | -51.6% | 13.6% | ||
| Q2 24 | -56.7% | 14.0% | ||
| Q1 24 | -60.9% | 14.5% |
每股收益（稀释后）FIPTPB
| Q4 25 | $-1.04 | $0.40 | ||
| Q3 25 | $-1.38 | $1.13 | ||
| Q2 25 | $-0.73 | $0.79 | ||
| Q1 25 | $0.89 | $0.79 | ||
| Q4 24 | $-1.21 | $0.15 | ||
| Q3 24 | $-0.45 | $0.68 | ||
| Q2 24 | $-0.52 | $0.68 | ||
| Q1 24 | $-0.54 | $0.63 |
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 | $222.8M |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | $21.3M | $372.0M |
| 总资产 | $5.7B | $763.8M |
| 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FIPTPB
| Q4 25 | $57.4M | $222.8M | ||
| Q3 25 | $34.7M | $201.2M | ||
| Q2 25 | $33.6M | $109.9M | ||
| Q1 25 | $26.3M | $99.6M | ||
| Q4 24 | $27.8M | $48.9M | ||
| Q3 24 | $20.3M | $33.6M | ||
| Q2 24 | $33.1M | $142.2M | ||
| Q1 24 | $23.0M | $130.9M |
总债务FIPTPB
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.3B | — |
股东权益FIPTPB
| Q4 25 | $21.3M | $372.0M | ||
| Q3 25 | $181.1M | $358.2M | ||
| Q2 25 | $375.5M | $224.8M | ||
| Q1 25 | $476.2M | $203.4M | ||
| Q4 24 | $202.7M | $190.4M | ||
| Q3 24 | $370.8M | $185.7M | ||
| Q2 24 | $394.8M | $172.8M | ||
| Q1 24 | $402.5M | $160.0M |
总资产FIPTPB
| Q4 25 | $5.7B | $763.8M | ||
| Q3 25 | $5.5B | $742.8M | ||
| Q2 25 | $4.4B | $595.8M | ||
| Q1 25 | $4.1B | $564.6M | ||
| Q4 24 | $2.4B | $493.4M | ||
| Q3 24 | $2.4B | $488.0M | ||
| Q2 24 | $2.5B | $591.6M | ||
| Q1 24 | $2.3B | $586.3M |
负债/权益比FIPTPB
| Q4 25 | 176.99× | — | ||
| Q3 25 | 20.59× | — | ||
| Q2 25 | 8.21× | — | ||
| 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 | $24.9M |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | $21.5M |
| 自由现金流率自由现金流/营收 | -47.8% | 17.8% |
| 资本支出强度资本支出/营收 | 45.9% | 2.8% |
| 现金转化率经营现金流/净利润 | — | 3.03× |
| 过去12个月自由现金流最近4个季度 | $-398.5M | $43.8M |
8季度趋势，按日历期对齐
经营现金流FIPTPB
| Q4 25 | $-2.8M | $24.9M | ||
| Q3 25 | $-24.4M | $3.3M | ||
| Q2 25 | $-5.2M | $11.8M | ||
| Q1 25 | $-85.7M | $17.4M | ||
| Q4 24 | $-8.1M | $17.7M | ||
| Q3 24 | $14.2M | $13.2M | ||
| Q2 24 | $-17.6M | $13.4M | ||
| Q1 24 | $-3.9M | $22.6M |
自由现金流FIPTPB
| Q4 25 | $-68.6M | $21.5M | ||
| Q3 25 | $-90.7M | $-721.0K | ||
| Q2 25 | $-87.5M | $7.8M | ||
| Q1 25 | $-151.7M | $15.2M | ||
| Q4 24 | $-34.3M | $16.6M | ||
| Q3 24 | $-11.7M | $12.6M | ||
| Q2 24 | $-32.1M | $10.9M | ||
| Q1 24 | $-16.7M | $22.3M |
自由现金流率FIPTPB
| Q4 25 | -47.8% | 17.8% | ||
| Q3 25 | -64.5% | -0.6% | ||
| Q2 25 | -71.6% | 6.7% | ||
| Q1 25 | -157.7% | 14.3% | ||
| Q4 24 | -42.4% | 17.8% | ||
| Q3 24 | -14.0% | 13.9% | ||
| Q2 24 | -37.9% | 11.7% | ||
| Q1 24 | -20.3% | 26.8% |
资本支出强度FIPTPB
| Q4 25 | 45.9% | 2.8% | ||
| Q3 25 | 47.2% | 3.4% | ||
| Q2 25 | 67.3% | 3.4% | ||
| Q1 25 | 68.6% | 2.1% | ||
| Q4 24 | 32.5% | 1.2% | ||
| Q3 24 | 31.1% | 0.7% | ||
| Q2 24 | 17.2% | 2.7% | ||
| Q1 24 | 15.6% | 0.4% |
现金转化率FIPTPB
| Q4 25 | — | 3.03× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.82× | ||
| Q1 25 | -0.71× | 1.21× | ||
| Q4 24 | — | 7.34× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.89× |
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% |
TPB
| US | $111.5M | 92% |
| Non Us | $9.6M | 8% |
