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FTAI Infrastructure Inc.（FIP）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）财务数据对比。点击上方公司名可切换其他公司
VIRTUS INVESTMENT PARTNERS, INC.的季度营收约是FTAI Infrastructure Inc.的1.4倍（$199.5M vs $143.5M），VIRTUS INVESTMENT PARTNERS, INC.净利率更高（3.6% vs -68.1%，领先71.6%），FTAI Infrastructure Inc.同比增速更快（77.7% vs -4.1%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs -5.7%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
FIP vs VRTS — 直观对比
营收规模更大
VRTS
是对方的1.4倍
$143.5M
营收增速更快
FIP
高出81.8%
-4.1%
净利率更高
VRTS
高出71.6%
-68.1%
两年增速更快
FIP
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $199.5M |
| 净利润 | $-97.7M | $7.1M |
| 毛利率 | — | — |
| 营业利润率 | -45.7% | 7.7% |
| 净利率 | -68.1% | 3.6% |
| 营收同比 | 77.7% | -4.1% |
| 净利润同比 | 21.6% | -78.1% |
| 每股收益（稀释后） | $-1.04 | $1.05 |
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FIPVRTS
| Q1 26 | — | $199.5M | ||
| Q4 25 | $143.5M | $208.0M | ||
| Q3 25 | $140.6M | $216.4M | ||
| Q2 25 | $122.3M | $210.5M | ||
| Q1 25 | $96.2M | $217.9M | ||
| Q4 24 | $80.8M | $233.5M | ||
| Q3 24 | $83.3M | $227.0M | ||
| Q2 24 | $84.9M | $224.4M |
净利润FIPVRTS
| Q1 26 | — | $7.1M | ||
| Q4 25 | $-97.7M | $33.9M | ||
| Q3 25 | $-104.5M | $31.3M | ||
| Q2 25 | $-70.0M | $42.7M | ||
| Q1 25 | $120.2M | $28.1M | ||
| Q4 24 | $-124.7M | $39.5M | ||
| Q3 24 | $-43.0M | $49.1M | ||
| Q2 24 | $-48.1M | $26.0M |
营业利润率FIPVRTS
| Q1 26 | — | 7.7% | ||
| Q4 25 | -45.7% | 19.1% | ||
| Q3 25 | -70.8% | 21.7% | ||
| Q2 25 | -56.4% | 21.5% | ||
| Q1 25 | 81.8% | 16.8% | ||
| Q4 24 | -152.7% | 21.7% | ||
| Q3 24 | -51.7% | 24.3% | ||
| Q2 24 | -56.4% | 19.7% |
净利率FIPVRTS
| Q1 26 | — | 3.6% | ||
| Q4 25 | -68.1% | 16.3% | ||
| Q3 25 | -74.4% | 14.5% | ||
| Q2 25 | -57.2% | 20.3% | ||
| Q1 25 | 125.0% | 12.9% | ||
| Q4 24 | -154.4% | 16.9% | ||
| Q3 24 | -51.6% | 21.6% | ||
| Q2 24 | -56.7% | 11.6% |
每股收益（稀释后）FIPVRTS
| Q1 26 | — | $1.05 | ||
| Q4 25 | $-1.04 | $5.15 | ||
| Q3 25 | $-1.38 | $4.65 | ||
| Q2 25 | $-0.73 | $6.12 | ||
| Q1 25 | $0.89 | $4.05 | ||
| Q4 24 | $-1.21 | $4.65 | ||
| Q3 24 | $-0.45 | $5.71 | ||
| Q2 24 | $-0.52 | $2.43 |
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 | $136.6M |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | $21.3M | $93.6B |
| 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FIPVRTS
| Q1 26 | — | $136.6M | ||
| Q4 25 | $57.4M | — | ||
| Q3 25 | $34.7M | — | ||
| Q2 25 | $33.6M | — | ||
| Q1 25 | $26.3M | — | ||
| Q4 24 | $27.8M | — | ||
| Q3 24 | $20.3M | — | ||
| Q2 24 | $33.1M | — |
总债务FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | $390.0M | ||
| Q3 25 | $3.7B | $390.6M | ||
| Q2 25 | $3.1B | $231.3M | ||
| Q1 25 | $2.8B | $231.7M | ||
| Q4 24 | $1.6B | $232.1M | ||
| Q3 24 | $1.5B | $237.5M | ||
| Q2 24 | $1.6B | $247.6M |
股东权益FIPVRTS
| Q1 26 | — | $93.6B | ||
| Q4 25 | $21.3M | $934.0M | ||
| Q3 25 | $181.1M | $918.7M | ||
| Q2 25 | $375.5M | $896.4M | ||
| Q1 25 | $476.2M | $893.7M | ||
| Q4 24 | $202.7M | $897.5M | ||
| Q3 24 | $370.8M | $889.0M | ||
| Q2 24 | $394.8M | $868.7M |
总资产FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $4.3B | ||
| Q3 25 | $5.5B | $3.9B | ||
| Q2 25 | $4.4B | $3.7B | ||
| Q1 25 | $4.1B | $3.7B | ||
| Q4 24 | $2.4B | $4.0B | ||
| Q3 24 | $2.4B | $3.6B | ||
| Q2 24 | $2.5B | $3.6B |
负债/权益比FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | 176.99× | 0.42× | ||
| Q3 25 | 20.59× | 0.43× | ||
| Q2 25 | 8.21× | 0.26× | ||
| Q1 25 | 5.79× | 0.26× | ||
| Q4 24 | 7.84× | 0.26× | ||
| Q3 24 | 4.14× | 0.27× | ||
| Q2 24 | 3.94× | 0.29× |
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FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | $-67.2M | ||
| Q3 25 | $-24.4M | $108.3M | ||
| Q2 25 | $-5.2M | $75.8M | ||
| Q1 25 | $-85.7M | $-3.8M | ||
| Q4 24 | $-8.1M | $1.8M | ||
| Q3 24 | $14.2M | $69.1M | ||
| Q2 24 | $-17.6M | $70.0M |
自由现金流FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | $-68.6M | $-74.1M | ||
| Q3 25 | $-90.7M | $106.9M | ||
| Q2 25 | $-87.5M | $74.2M | ||
| Q1 25 | $-151.7M | $-6.8M | ||
| Q4 24 | $-34.3M | $-3.8M | ||
| Q3 24 | $-11.7M | $68.7M | ||
| Q2 24 | $-32.1M | $68.6M |
自由现金流率FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | -47.8% | -35.6% | ||
| Q3 25 | -64.5% | 49.4% | ||
| Q2 25 | -71.6% | 35.2% | ||
| Q1 25 | -157.7% | -3.1% | ||
| Q4 24 | -42.4% | -1.6% | ||
| Q3 24 | -14.0% | 30.3% | ||
| Q2 24 | -37.9% | 30.6% |
资本支出强度FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | 45.9% | 3.3% | ||
| Q3 25 | 47.2% | 0.7% | ||
| Q2 25 | 67.3% | 0.7% | ||
| Q1 25 | 68.6% | 1.4% | ||
| Q4 24 | 32.5% | 2.4% | ||
| Q3 24 | 31.1% | 0.2% | ||
| Q2 24 | 17.2% | 0.6% |
现金转化率FIPVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | -0.71× | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
