FTAI INFRASTRUCTURE INC Financials

FIP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows FTAI INFRASTRUCTURE INC (FIP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 13/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

FTAI INFRASTRUCTURE INC's revenue grew a modest 3.4% year-over-year to $331.5M. This slow but positive growth earns a score of 38/100.

Leverage

FTAI INFRASTRUCTURE INC has elevated debt relative to equity (D/E of 7.60), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

FTAI INFRASTRUCTURE INC's current ratio of 0.88 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 15/100, which could limit financial flexibility.

Cash Flow

While FTAI INFRASTRUCTURE INC generated -$15.3M in operating cash flow, capex of $79.5M consumed most of it, leaving -$94.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

FTAI INFRASTRUCTURE INC passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.06x

For every $1 of reported earnings, FTAI INFRASTRUCTURE INC generates $0.06 in operating cash flow (-$15.3M OCF vs -$266.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$331.5M

YoY+3.4%

5Y CAGR+7.6%

FTAI INFRASTRUCTURE INC generated $331.5M in revenue in fiscal year 2024. This represents an increase of 3.4% from the prior year.

EBITDA

N/A

Free Cash Flow

-$94.8M

YoY-1.4%

FTAI INFRASTRUCTURE INC generated -$94.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 1.4% from the prior year.

Net Income

-$266.1M

YoY-66.6%

FTAI INFRASTRUCTURE INC reported -$266.1M in net income in fiscal year 2024. This represents a decrease of 66.6% from the prior year.

EPS (Diluted)

$-2.72

YoY-52.0%

FTAI INFRASTRUCTURE INC earned $-2.72 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 52.0% from the prior year.

Cash & Debt

$27.8M

YoY-5.4%

5Y CAGR+10.5%

FTAI INFRASTRUCTURE INC held $27.8M in cash against $1.5B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

114M

YoY+13.3%

FTAI INFRASTRUCTURE INC had 114M shares outstanding in fiscal year 2024. This represents an increase of 13.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-80.3%

YoY-30.4pp

5Y CAGR-75.4pp

FTAI INFRASTRUCTURE INC's net profit margin was -80.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 30.4 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$79.5M

YoY-19.7%

5Y CAGR-24.4%

FTAI INFRASTRUCTURE INC invested $79.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 19.7% from the prior year.

FIP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$331.5M+3.4%	$320.5M+22.3%	$262.0M+117.9%	$120.2M+75.3%	$68.6M-70.1%	$229.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$14.8M+15.3%	$12.8M+17.8%	$10.9M+24.7%	$8.7M+2.5%	$8.5M+14.1%	$7.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$122.1M+22.6%	$99.6M+87.1%	$53.2M+232.3%	$16.0M+48.8%	$10.8M-39.9%	$17.9M
Income Tax	$3.3M+34.1%	$2.5M-44.7%	$4.5M+223.1%	-$3.6M-83.0%	-$2.0M-113.8%	$14.4M
Net Income	-$266.1M-66.6%	-$159.8M+14.8%	-$187.5M-76.3%	-$106.3M-48.3%	-$71.7M-543.9%	-$11.1M
EPS (Diluted)	$-2.72-52.0%	$-1.79-3.5%	$-1.73-116.2%	$-0.80-42.9%	$-0.56	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Revenue	$140.6M+14.9%	$122.3M+27.2%	$96.2M+18.1%	$81.4M+0.9%	$80.7M-1.4%	$81.8M+7.0%	$76.5M+7.1%	$71.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.2M-17.1%	$3.9M-24.5%	$5.1M+48.4%	$3.4M+38.6%	$2.5M-32.9%	$3.7M+15.7%	$3.2M+16.2%	$2.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$73.3M+23.8%	$59.2M+37.3%	$43.1M+64.7%	$26.2M+0.7%	$26.0M+7.5%	$24.2M+4.0%	$23.3M+10.0%	$21.1M
Income Tax	$5.1M+433.7%	$952K+102.3%	-$41.5M-46026.7%	-$90K-1225.0%	$8K-99.0%	$823K-52.4%	$1.7M+379.8%	-$618K
Net Income	-$104.5M-49.4%	-$70.0M-158.2%	$120.2M+401.0%	-$39.9M+20.2%	-$50.0M-47.8%	-$33.9M+5.7%	-$35.9M+44.4%	-$64.6M
EPS (Diluted)	$-1.38-89.0%	$-0.73-182.0%	$0.89+293.5%	$-0.46+16.4%	$-0.55-44.7%	$-0.38+5.0%	$-0.40+29.8%	$-0.57

FIP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.4B-0.2%	$2.4B-4.0%	$2.5B0.0%	$2.5B+77.2%	$1.4B	N/A
Current Assets	$219.9M+18.5%	$185.5M-33.2%	$277.8M0.0%	$277.8M+228.7%	$84.5M	N/A
Cash & Equivalents	$27.8M-5.4%	$29.4M-19.5%	$36.5M-26.8%	$49.9M+217.5%	$15.7M-6.9%	$16.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$53.0M-5.4%	$56.0M-7.9%	$60.8M+20.9%	$50.3M	N/A	N/A
Goodwill	$275.4M0.0%	$275.4M+5.8%	$260.3M+1.2%	$257.1M+109.5%	$122.7M	N/A
Total Liabilities	$1.9B+16.8%	$1.6B-2.8%	$1.7B+66.2%	$1.0B+151.8%	$403.6M	N/A
Current Liabilities	$250.8M+66.5%	$150.6M-5.6%	$159.6M0.0%	$159.6M+93.8%	$82.4M	N/A
Long-Term Debt	$1.5B+14.8%	$1.3B+9.0%	$1.2B0.0%	$1.2B+385.3%	$253.5M	N/A
Total Equity	$202.7M-58.2%	$484.3M-12.2%	$551.6M-62.3%	$1.5B+50.3%	$973.1M+27.0%	$766.0M
Retained Earnings	-$405.8M-122.8%	-$182.2M-199.4%	-$60.8M	$0	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$5.5B+23.7%	$4.4B+6.4%	$4.1B+74.1%	$2.4B-0.2%	$2.4B-2.2%	$2.4B-0.4%	$2.4B-1.3%	$2.5B
Current Assets	$442.8M-17.8%	$539.0M+69.1%	$318.7M+71.8%	$185.5M+3.1%	$180.0M-16.1%	$214.4M-10.3%	$239.1M-13.9%	$277.8M
Cash & Equivalents	$34.7M+3.3%	$33.6M+27.7%	$26.3M-10.4%	$29.4M+20.1%	$24.4M-42.5%	$42.5M+6.4%	$40.0M+9.5%	$36.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$53.0M	N/A	N/A	$56.0M	N/A	N/A	N/A	$60.8M
Goodwill	$401.2M0.0%	$401.2M-0.4%	$403.0M+46.3%	$275.4M0.0%	$275.4M+5.8%	$260.3M0.0%	$260.3M0.0%	$260.3M
Total Liabilities	$4.4B+20.4%	$3.6B+10.9%	$3.3B+99.5%	$1.6B+2.3%	$1.6B-0.5%	$1.6B-2.2%	$1.6B-2.5%	$1.7B
Current Liabilities	$1.8B+388.1%	$362.8M-2.3%	$371.1M+146.4%	$150.6M-7.2%	$162.4M-10.8%	$182.1M+17.7%	$154.7M-3.1%	$159.6M
Long-Term Debt	$2.2B-26.3%	$3.0B+12.7%	$2.7B+98.6%	$1.3B+1.7%	$1.3B+3.3%	$1.3B+0.2%	$1.3B+3.6%	$1.2B
Total Equity	$181.1M-51.8%	$375.5M-21.2%	$476.2M-1.7%	$484.3M-9.3%	$533.9M-8.0%	$580.5M+3.7%	$559.8M+1.5%	$551.6M
Retained Earnings	-$438.6M-31.7%	-$333.1M-21.5%	-$274.3M-50.5%	-$182.2M-21.0%	-$150.6M-36.3%	-$110.5M-27.2%	-$86.9M-42.8%	-$60.8M

FIP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$15.3M-377.1%	$5.5M+112.9%	-$42.7M+30.8%	-$61.7M-31.7%	-$46.9M+11.0%	-$52.7M
Capital Expenditures	$79.5M-19.7%	$99.0M-54.4%	$217.1M+54.1%	$140.9M-43.1%	$247.5M-23.4%	$323.0M
Free Cash Flow	-$94.8M-1.4%	-$93.5M+64.0%	-$259.8M-28.2%	-$202.6M+31.2%	-$294.4M+21.6%	-$375.7M
Investing Cash Flow	-$118.1M+19.7%	-$147.1M+45.0%	-$267.3M+67.7%	-$828.7M-228.6%	-$252.2M+2.5%	-$258.6M
Financing Cash Flow	$193.2M+143.2%	$79.4M-49.6%	$157.7M-86.1%	$1.1B+236.7%	$337.6M+15.0%	$293.6M
Dividends Paid	$13.1M+6.1%	$12.4M+301.4%	$3.1M	$0	$0	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	-$24.4M-367.0%	-$5.2M+93.9%	-$85.7M-1208.5%	$7.7M-47.5%	$14.7M+407.4%	-$4.8M+60.6%	-$12.1M-142.9%	-$5.0M
Capital Expenditures	$66.3M-19.4%	$82.3M+24.7%	$66.0M+225.0%	$20.3M+56.0%	$13.0M-49.6%	$25.8M-35.2%	$39.9M-11.3%	$44.9M
Free Cash Flow	-$90.7M-3.6%	-$87.5M+42.3%	-$151.7M-1105.2%	-$12.6M-839.7%	$1.7M+105.6%	-$30.6M+41.1%	-$52.0M-4.2%	-$49.9M
Investing Cash Flow	-$1.2B-1267.5%	-$85.9M-152.3%	$164.3M+2125.1%	-$8.1M+81.8%	-$44.7M-62.3%	-$27.5M+58.8%	-$66.8M+7.7%	-$72.4M
Financing Cash Flow	$1.1B+249.8%	$316.0M+12556.3%	-$2.5M-125.5%	$9.9M-4.2%	$10.4M-51.4%	$21.4M-43.5%	$37.8M+24.2%	$30.4M
Dividends Paid	$3.5M+0.4%	$3.4M0.0%	$3.4M+10.4%	$3.1M+1.1%	$3.1M-0.1%	$3.1M+0.1%	$3.1M+0.1%	$3.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FIP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-80.3%-30.4pp	-49.9%+21.7pp	-71.6%+16.9pp	-88.5%+16.1pp	-104.6%-99.8pp	-4.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-11.2%-4.5pp	-6.7%+0.9pp	-7.6%-3.3pp	-4.3%+0.8pp	-5.1%	N/A
Current Ratio	0.88-0.4	1.23-0.5	1.740.0	1.74+0.7	1.03	N/A
Debt-to-Equity	7.60+4.8	2.77+0.5	2.23+1.4	0.84+0.6	0.26	N/A
FCF Margin	-28.6%+0.6pp	-29.2%+70.0pp	-99.2%+69.3pp	-168.5%+260.8pp	-429.4%-265.6pp	-163.7%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-74.4%-17.2pp	-57.2%-182.2pp	125.0%+174.0pp	-49.0%+13.0pp	-62.0%-20.6pp	-41.4%+5.6pp	-46.9%+43.5pp	-90.4%
Return on Equity	N/A	N/A	25.2%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-1.9%-0.3pp	-1.6%-4.5pp	2.9%+4.6pp	-1.7%+0.4pp	-2.1%-0.7pp	-1.4%+0.1pp	-1.5%+1.1pp	-2.6%
Current Ratio	0.25-1.2	1.49+0.6	0.86-0.4	1.23+0.1	1.11-0.1	1.18-0.4	1.55-0.2	1.74
Debt-to-Equity	12.23+4.2	7.99+2.4	5.59+2.8	2.77+0.3	2.47+0.3	2.20-0.1	2.28+0.0	2.23
FCF Margin	-64.5%+7.0pp	-71.6%+86.1pp	-157.7%-142.3pp	-15.4%-17.6pp	2.1%+39.5pp	-37.4%+30.6pp	-68.0%+1.9pp	-69.9%

Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is FTAI INFRASTRUCTURE INC's annual revenue?

FTAI INFRASTRUCTURE INC (FIP) reported $331.5M in total revenue for fiscal year 2024. This represents a 3.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is FTAI INFRASTRUCTURE INC's revenue growing?

FTAI INFRASTRUCTURE INC (FIP) revenue grew by 3.4% year-over-year, from $320.5M to $331.5M in fiscal year 2024.

Is FTAI INFRASTRUCTURE INC profitable?

No, FTAI INFRASTRUCTURE INC (FIP) reported a net income of -$266.1M in fiscal year 2024, with a net profit margin of -80.3%.

What is FTAI INFRASTRUCTURE INC's earnings per share (EPS)?

FTAI INFRASTRUCTURE INC (FIP) reported diluted earnings per share of $-2.72 for fiscal year 2024. This represents a -52.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does FTAI INFRASTRUCTURE INC have?

As of fiscal year 2024, FTAI INFRASTRUCTURE INC (FIP) had $27.8M in cash and equivalents against $1.5B in long-term debt.

What is FTAI INFRASTRUCTURE INC's net profit margin?

FTAI INFRASTRUCTURE INC (FIP) had a net profit margin of -80.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is FTAI INFRASTRUCTURE INC's free cash flow?

FTAI INFRASTRUCTURE INC (FIP) generated -$94.8M in free cash flow during fiscal year 2024. This represents a -1.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is FTAI INFRASTRUCTURE INC's operating cash flow?

FTAI INFRASTRUCTURE INC (FIP) generated -$15.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are FTAI INFRASTRUCTURE INC's total assets?

FTAI INFRASTRUCTURE INC (FIP) had $2.4B in total assets as of fiscal year 2024, including both current and long-term assets.

What are FTAI INFRASTRUCTURE INC's capital expenditures?

FTAI INFRASTRUCTURE INC (FIP) invested $79.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does FTAI INFRASTRUCTURE INC have outstanding?

FTAI INFRASTRUCTURE INC (FIP) had 114M shares outstanding as of fiscal year 2024.

What is FTAI INFRASTRUCTURE INC's current ratio?

FTAI INFRASTRUCTURE INC (FIP) had a current ratio of 0.88 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is FTAI INFRASTRUCTURE INC's debt-to-equity ratio?

FTAI INFRASTRUCTURE INC (FIP) had a debt-to-equity ratio of 7.60 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is FTAI INFRASTRUCTURE INC's return on assets (ROA)?

FTAI INFRASTRUCTURE INC (FIP) had a return on assets of -11.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is FTAI INFRASTRUCTURE INC's cash runway?

Based on fiscal year 2024 data, FTAI INFRASTRUCTURE INC (FIP) had $27.8M in cash against an annual operating cash burn of $15.3M. This gives an estimated cash runway of approximately 22 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is FTAI INFRASTRUCTURE INC's Piotroski F-Score?

FTAI INFRASTRUCTURE INC (FIP) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are FTAI INFRASTRUCTURE INC's earnings high quality?

FTAI INFRASTRUCTURE INC (FIP) has an earnings quality ratio of 0.06x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is FTAI INFRASTRUCTURE INC?

FTAI INFRASTRUCTURE INC (FIP) scores 13 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.