FTAI Infrastructure Inc.

NASDAQ•FIP

CEO: Mr. Kenneth J. Nicholson

Sector: Industrials

Industry: Conglomerates

Listing Date: 2022-07-20

FTAI Infrastructure Inc. focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition. It operates a multi-modal crude oil and refined products terminal, and other related assets. The company also has a 1,630-acre deep-water port located along the Delaware River with an underground storage cavern, a multipurpose dock, a rail-to-ship transloading system, and multiple industrial development opportunities; and a 1,660-acre multi-modal port located along the Ohio River with rail, dock, and multiple industrial development opportunities, including a power plant under construction. In addition, it operates six freight railroads and one switching facility. FTAI Infrastructure Inc. was incorporated in 2021 and is headquartered in New York, New York.

Contact Information

1345 Avenue Of The Americas, 45th Floor, New York, NY, 10105, United States

212-798-6100

www.fipinc.com

Market Cap

$660.53M

P/E (TTM)

-6.1

32.7

Dividend Yield

2.1%

52W High

$7.94

52W Low

$3.10

52W Range

51%

Rank64Top 94.9%

1.7

F-Score

Modified Piotroski Analysis

Based on 6-year fundamentals

Weak • 1.7 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2020-2025

Financial Dashboard

Q4 2025 Data

Revenue

$143.52M+0.00%

4-Quarter Trend

EPS

-$1.08+0.00%

4-Quarter Trend

FCF

-$68.76M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Surge Driven Acquisitions Total revenues increased 51.6% to $502.5M in 2025, driven by Power and Gas segment growth from new acquisitions.

Adjusted EBITDA Skyrockets Adjusted EBITDA surged 183.1% to $361.2M in 2025, reflecting significant operational leverage and acquisition synergies.

Total Assets Double Post-Acquisitions Total assets grew to $5.75B by December 31, 2025, marking a $3.37B increase from the prior year-end.

Net Loss Significantly Reduced Net loss attributable to stockholders improved by $87.1M to $(207.4M) in 2025, despite increased interest expense.

Risk Factors

Key Customer Revenue Concentration Largest customer accounted for 27% of 2025 revenue; loss could materially impact segment results and cash flows.

High Total Debt Load Total net debt stands at $3.77B as of December 31, 2025, requiring careful liquidity management and refinancing.

Wheeling Integration Complexity Integrating Wheeling is complex, costly, and may delay realizing anticipated operational efficiencies and synergies post-acquisition.

Variable Rate Interest Exposure A hypothetical 100-basis point variable rate shift results in approximately $12.9M interest expense change over 12 months.

Outlook

Refinancing Jefferson 2024B Bonds Management plans to refinance $218M Jefferson 2024B Bonds due July 2026, potentially utilizing the March 2026 Backstop Agreement.

Pursue Further Infrastructure Investments Continue pursuing additional infrastructure opportunities, targeting assets offering strong risk-adjusted returns and value creation.

Evaluating Long Ridge Strategic Alternatives Evaluating strategic alternatives for Long Ridge, including a potential sale, as part of ongoing portfolio optimization efforts.

Peer Comparison

Revenue (TTM)

FWRD

$2.50B

+0.8%

CODI

$1.87B

-4.8%

$1.85B

+28.4%

Gross Margin (Latest Quarter)

SNCY

65.4%

+44.9pp

FWRD

48.4%

-14.5pp

CRESY

38.8%

+6.7pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
SNCY	$925.82M	17.3	8.6%	35.2%
NX	$915.09M	-3.8	-30.2%	45.1%
HTLD	$852.78M	-16.3	-6.7%	13.5%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

14.3%

Steady Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 7, 2026

EPS:-$0.42

Revenue:$182.41M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data