FIP

MKT CAP:$651M

FTAI Infrastructure Inc.

Market Cap

$651M

Industrials·Conglomerates·🇺🇸 United States·NASDAQ

Industrials·Conglomerates·🇺🇸·NASDAQ

Stock Price

$5.80+$0.92 (+18.85%)

Apr 17, 2026

Company Details

FTAI Infrastructure Inc. focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation and energy industries. It operates a multi-modal crude oil and refined products...

CEO

Kenneth J. Nicholson

IPO Date

Jul 20, 2022

Website

www.fipinc.com

Key Metrics TTM

Revenue

$279M

— YoY

Net Income

-$120M

EPS (Diluted)

-$1.56

Free Cash Flow

-$168M

Revenue / Share

$2.55

Gross Margin

1.5%

Operating Margin

-4.9%

Net Margin

-42.9%

FCF Margin

-60.1%

P/S

2.3x

P/E

—

Earnings Reports

Q4 2024

May 7, 2026

PENDING

FY 2024

Oct 31, 2024

$166MEPS -$1.00

Q3 2024

Oct 31, 2024

$83MEPS -$0.46

Q1 2024

May 10, 2024

$83MEPS -$0.54

FY 2022

Aug 25, 2022

$66M-33.9%EPS -$0.39

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$15M	-$17M	-$19M
Q3 21	$37M	-$16M	-$19M
Q4 21	$48M	$15M	$8M
Q2 22	$66M	-$4M	-$6M
Q1 24	$83M	-$6M	-$10M
Q3 24	$83M	-$2M	-$5M

Valuation

Quarter	P/S	P/E
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q2 22	3.9x	—
Q1 24	2.8x	—
Q3 24	2.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	-$14M	-$66M
Q2 21	-$24M	-$66M
Q3 21	-$12M	-$36M
Q4 21	$8M	-$35M
Q2 22	-$41M	-$103M
Q1 24	-$4M	-$17M
Q3 24	$14M	-$12M

Capital Expenditures

Quarter	CapEx
Q4 20	$52M
Q2 21	$42M
Q3 21	$23M
Q4 21	$43M
Q2 22	$62M
Q1 24	$13M
Q3 24	$26M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+437.9%	+169.9%
Q3 24	+126.5%	+58.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$709.0K	—
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q2 22	$0	0.0%
Q1 24	$2M	2.8%
Q3 24	$3M	3.2%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 21	—	—	$2M
Q3 21	—	—	$3M
Q4 21	$7M	$445.0K	—
Q2 22	—	—	$2M
Q1 24	$5M	—	—
Q3 24	$3M	—	—

Revenue Segments

Quarter	Corporate Segment	Jefferson Terminal	Ports and Terminals	Transtar, LLC
Q2 22	$12M	$15M	$2M	$38M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$65M	$0	$65M
Q2 22	$68M	$0	$68M
Q3 22	$69M	$29M	$98M
Q4 22	$36M	$0	$36M
Q1 23	$40M	$22M	$62M
Q2 23	$43M	$20M	$62M
Q3 23	$24M	$0	$24M
Q4 23	$29M	$0	$29M
Q1 24	$23M	$0	$23M
Q2 24	$33M	$0	$33M
Q3 24	$20M	$0	$20M
Q4 24	$28M	$0	$28M
Q1 25	$26M	$0	$26M
Q2 25	$448M	$0	$448M
Q3 25	$35M	$0	$35M
Q4 25	$326M	$0	$326M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	99M	—	—
Q3 21	99M	0.0%	—
Q4 21	99M	0.0%	—
Q2 22	99M	0.0%	—
Q1 24	104M	+5.0%	+5.0%
Q3 24	110M	+5.3%	+10.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q2 22	—	—
Q1 24	$187.6K	440
Q3 24	$189.3K	440

Revenue / Employee