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FTAI Infrastructure Inc.（FIP）与Via Renewables, Inc.（VIASP）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Via Renewables, Inc.的1.1倍（$143.5M vs $127.8M），Via Renewables, Inc.净利率更高（5.4% vs -68.1%，领先73.5%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 22.5%），Via Renewables, Inc.自由现金流更多（$-4.8M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 5.9%）
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。
EDF电力解决方案是法国电力集团旗下全资子公司，专注可再生能源发电业务。作为一体化运营商，该集团开展可再生能源项目开发与融资，推进设施建设，同时为自有及第三方的可再生能源项目提供运营与维护服务。
FIP vs VIASP — 直观对比
营收规模更大
FIP
是对方的1.1倍
$127.8M
营收增速更快
FIP
高出55.2%
22.5%
净利率更高
VIASP
高出73.5%
-68.1%
自由现金流更多
VIASP
多$63.9M
$-68.6M
两年增速更快
FIP
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $127.8M |
| 净利润 | $-97.7M | $6.9M |
| 毛利率 | — | 34.4% |
| 营业利润率 | -45.7% | 15.2% |
| 净利率 | -68.1% | 5.4% |
| 营收同比 | 77.7% | 22.5% |
| 净利润同比 | 21.6% | -30.9% |
| 每股收益（稀释后） | $-1.04 | $1.19 |
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FIPVIASP
| Q4 25 | $143.5M | $127.8M | ||
| Q3 25 | $140.6M | $103.3M | ||
| Q2 25 | $122.3M | $90.0M | ||
| Q1 25 | $96.2M | $142.3M | ||
| Q4 24 | $80.8M | $104.3M | ||
| Q3 24 | $83.3M | $93.8M | ||
| Q2 24 | $84.9M | $86.7M | ||
| Q1 24 | $82.5M | $114.1M |
净利润FIPVIASP
| Q4 25 | $-97.7M | $6.9M | ||
| Q3 25 | $-104.5M | $757.0K | ||
| Q2 25 | $-70.0M | $2.7M | ||
| Q1 25 | $120.2M | $8.8M | ||
| Q4 24 | $-124.7M | $9.9M | ||
| Q3 24 | $-43.0M | $2.1M | ||
| Q2 24 | $-48.1M | $7.6M | ||
| Q1 24 | $-50.3M | $8.6M |
毛利率FIPVIASP
| Q4 25 | — | 34.4% | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 32.9% | ||
| Q4 24 | — | 51.9% | ||
| Q3 24 | — | 26.8% | ||
| Q2 24 | — | 50.4% | ||
| Q1 24 | — | 39.5% |
营业利润率FIPVIASP
| Q4 25 | -45.7% | 15.2% | ||
| Q3 25 | -70.8% | 3.1% | ||
| Q2 25 | -56.4% | 6.7% | ||
| Q1 25 | 81.8% | 17.5% | ||
| Q4 24 | -152.7% | 31.5% | ||
| Q3 24 | -51.7% | 5.3% | ||
| Q2 24 | -56.4% | 23.8% | ||
| Q1 24 | -58.8% | 22.6% |
净利率FIPVIASP
| Q4 25 | -68.1% | 5.4% | ||
| Q3 25 | -74.4% | 0.7% | ||
| Q2 25 | -57.2% | 3.0% | ||
| Q1 25 | 125.0% | 6.2% | ||
| Q4 24 | -154.4% | 9.5% | ||
| Q3 24 | -51.6% | 2.3% | ||
| Q2 24 | -56.7% | 8.8% | ||
| Q1 24 | -60.9% | 7.5% |
每股收益（稀释后）FIPVIASP
| Q4 25 | $-1.04 | $1.19 | ||
| Q3 25 | $-1.38 | $-0.41 | ||
| Q2 25 | $-0.73 | $0.09 | ||
| Q1 25 | $0.89 | $1.83 | ||
| Q4 24 | $-1.21 | $2.33 | ||
| Q3 24 | $-0.45 | $-0.17 | ||
| Q2 24 | $-0.52 | $1.51 | ||
| Q1 24 | $-0.54 | $1.81 |
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 | $41.8M |
| 总债务越低越好 | $3.8B | $120.0M |
| 股东权益账面价值 | $21.3M | $67.7M |
| 总资产 | $5.7B | $331.3M |
| 负债/权益比越低杠杆越低 | 176.99× | 1.77× |
8季度趋势，按日历期对齐
现金及短期投资FIPVIASP
| Q4 25 | $57.4M | $41.8M | ||
| Q3 25 | $34.7M | $53.6M | ||
| Q2 25 | $33.6M | $62.1M | ||
| Q1 25 | $26.3M | $64.7M | ||
| Q4 24 | $27.8M | $53.1M | ||
| Q3 24 | $20.3M | $66.6M | ||
| Q2 24 | $33.1M | $53.6M | ||
| Q1 24 | $23.0M | $50.4M |
总债务FIPVIASP
| Q4 25 | $3.8B | $120.0M | ||
| Q3 25 | $3.7B | $105.0M | ||
| Q2 25 | $3.1B | $100.0M | ||
| Q1 25 | $2.8B | $101.0M | ||
| Q4 24 | $1.6B | $106.0M | ||
| Q3 24 | $1.5B | $89.0M | ||
| Q2 24 | $1.6B | $93.0M | ||
| Q1 24 | $1.3B | $91.0M |
股东权益FIPVIASP
| Q4 25 | $21.3M | $67.7M | ||
| Q3 25 | $181.1M | $63.7M | ||
| Q2 25 | $375.5M | $68.2M | ||
| Q1 25 | $476.2M | $72.7M | ||
| Q4 24 | $202.7M | $66.7M | ||
| Q3 24 | $370.8M | $58.2M | ||
| Q2 24 | $394.8M | $58.3M | ||
| Q1 24 | $402.5M | $53.2M |
总资产FIPVIASP
| Q4 25 | $5.7B | $331.3M | ||
| Q3 25 | $5.5B | $304.8M | ||
| Q2 25 | $4.4B | $316.3M | ||
| Q1 25 | $4.1B | $347.4M | ||
| Q4 24 | $2.4B | $344.9M | ||
| Q3 24 | $2.4B | $298.4M | ||
| Q2 24 | $2.5B | $299.7M | ||
| Q1 24 | $2.3B | $302.7M |
负债/权益比FIPVIASP
| Q4 25 | 176.99× | 1.77× | ||
| Q3 25 | 20.59× | 1.65× | ||
| Q2 25 | 8.21× | 1.47× | ||
| Q1 25 | 5.79× | 1.39× | ||
| Q4 24 | 7.84× | 1.59× | ||
| Q3 24 | 4.14× | 1.53× | ||
| Q2 24 | 3.94× | 1.60× | ||
| Q1 24 | 3.34× | 1.71× |
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 | $-4.2M |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | $-4.8M |
| 自由现金流率自由现金流/营收 | -47.8% | -3.7% |
| 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 | — | -0.61× |
| 过去12个月自由现金流最近4个季度 | $-398.5M | $39.1M |
8季度趋势，按日历期对齐
经营现金流FIPVIASP
| Q4 25 | $-2.8M | $-4.2M | ||
| Q3 25 | $-24.4M | $2.4M | ||
| Q2 25 | $-5.2M | $19.0M | ||
| Q1 25 | $-85.7M | $24.9M | ||
| Q4 24 | $-8.1M | $2.0M | ||
| Q3 24 | $14.2M | $20.1M | ||
| Q2 24 | $-17.6M | $11.2M | ||
| Q1 24 | $-3.9M | $17.1M |
自由现金流FIPVIASP
| Q4 25 | $-68.6M | $-4.8M | ||
| Q3 25 | $-90.7M | $1.9M | ||
| Q2 25 | $-87.5M | $18.4M | ||
| Q1 25 | $-151.7M | $23.5M | ||
| Q4 24 | $-34.3M | $1.6M | ||
| Q3 24 | $-11.7M | $19.7M | ||
| Q2 24 | $-32.1M | $10.9M | ||
| Q1 24 | $-16.7M | $16.6M |
自由现金流率FIPVIASP
| Q4 25 | -47.8% | -3.7% | ||
| Q3 25 | -64.5% | 1.9% | ||
| Q2 25 | -71.6% | 20.5% | ||
| Q1 25 | -157.7% | 16.5% | ||
| Q4 24 | -42.4% | 1.5% | ||
| Q3 24 | -14.0% | 21.0% | ||
| Q2 24 | -37.9% | 12.6% | ||
| Q1 24 | -20.3% | 14.6% |
资本支出强度FIPVIASP
| Q4 25 | 45.9% | 0.4% | ||
| Q3 25 | 47.2% | 0.4% | ||
| Q2 25 | 67.3% | 0.6% | ||
| Q1 25 | 68.6% | 1.0% | ||
| Q4 24 | 32.5% | 0.4% | ||
| Q3 24 | 31.1% | 0.4% | ||
| Q2 24 | 17.2% | 0.3% | ||
| Q1 24 | 15.6% | 0.4% |
现金转化率FIPVIASP
| Q4 25 | — | -0.61× | ||
| Q3 25 | — | 3.12× | ||
| Q2 25 | — | 6.94× | ||
| Q1 25 | -0.71× | 2.84× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 9.41× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 2.00× |
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% |
VIASP
| Retail Electricity | $79.7M | 62% |
| Retail Natural Gas | $48.9M | 38% |
