Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data FTAI Infrastructure Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
68.6
120
262
320
331
503
General and administrative
8.52
8.74
10.9
12.8
14.8
16.2
Operating expenses
69.4
98.5
208
254
248
300
Interest expense
10.8
16
53.2
99.6
122
266
Other non-operating income
-18.5
-38.4
-125
-113
-163
-163
Pre-tax income
-73.7
-110
-183
-157
-263
-155
Income tax
-1.98
-3.63
4.47
2.47
3.31
-3.32
Income from continuing operations
-55.2
-79.9
-177
-184
-294
-207
Net income to minority interests
-38.4
-42.4
-44.9
Net income
-55.2
-79.9
-177
-184
-294
-207
EPS, basic
-0.56
-0.80
-1.73
-1.78
-2.72
-2.24
EPS, diluted
-0.56
-0.80
-1.73
-1.79
-2.72
-2.26
Shares, basic (weighted)
99.4
99.4
103
103
108
115
Shares, diluted (weighted)
99.4
99.4
103
103
108
115
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
55.4
49.9
36.5
29.4
27.8
57.4
Other current assets
60.8
67.4
42
19.6
62.7
Total current assets
278
278
186
220
484
Property, plant and equipment
1,518
1,674
1,631
1,653
4,582
Lease right-of-use assets
71.5
71
69.7
67.9
133
Goodwill
257
260
275
275
366
Intangible assets
67.7
60.2
52.6
46.2
43.2
Other non-current assets
24.9
26.8
57.3
61.6
81.7
Total assets
2,478
2,478
2,380
2,374
5,749
Deferred revenue
3.3
Short-term debt
0
0
0
48.6
65.4
Total current liabilities
160
160
151
251
410
Long-term debt
1,230
1,230
1,341
1,539
3,709
Lease liabilities
67.5
63.1
62.4
60.9
71
Total liabilities
1,689
1,689
1,642
1,918
4,805
Total debt
1,230
1,230
1,341
1,588
3,774
Paid-in capital
0
912
844
764
624
Retained earnings
0
-60.8
-182
-406
-513
Other comprehensive income
-155
-300
-179
-157
-90.6
Shareholders' equity
1,462
552
484
203
21.3
Minority interests
-0.09
-26.8
-71.4
-128
-168
Total equity
995
1,462
525
413
75.1
-146
Total liabilities and equity
2,478
2,478
2,380
2,374
5,749
Shares outstanding
99.4
101
114
116
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-71.7
-106
-188
-160
-266
-152
Depreciation and amortization
31.1
54
70.7
81
79.4
132
Stock-based compensation
2.33
4.04
4.15
9.2
8.64
11.1
Deferred income tax
-2.28
-3.87
3.98
2.02
1.92
-5.76
Change in receivables
10
-26.8
-3.3
2.84
2.13
-9.92
Change in payables
-14.2
15.5
7.01
8.55
21
51.7
Cash from operations
-46.9
-61.7
-42.7
5.51
-15.3
-118
Capital expenditures
-248
-141
-217
-99
-79.5
-281
Acquisitions
-627
-3.82
-4.45
0
-857
Cash from investing
-252
-829
-267
-147
-118
-1,143
Debt issued
264
451
519
181
498
1,794
Debt repaid
-240
0
0
-75.1
-248
-780
Stock issued
0
0
2.69
Dividends paid
0
0
-3.08
-12.4
-13.1
-13.8
Cash from financing
338
1,137
158
79.4
193
1,439
Net change in cash
38.6
246
-152
-62.2
59.8
179
Free cash flow
-294
-203
-260
-93.5
-94.8
-399
Interest paid
8.59
7.3
38.1
88.4
94.4
220
Income taxes paid
0.33
0.33
0.38
0.46
0.46
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.13 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
-66.7%
Pre-tax income / revenue.
Net margin
-83.4%
Net income / revenue.
FCF margin
-48.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-8.7%
Cash from operations / revenue.
Return on assets (ROA)
-9.6%
Net income / average total assets.
Stock-based pay / revenue
3.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
39.6%
Capital expenditures / revenue.
D&A / revenue
24.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
51.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
24.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
48.9%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-89.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-66.2%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
142.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
32.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
6.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
3.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
3.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.28x
Current assets / current liabilities.
Quick ratio
0.02x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.02x
(Cash + short-term investments) / current liabilities.
Debt / assets
48.1%
Total debt / total assets.
Liabilities / assets
88.9%
Total liabilities / total assets.
Net debt
$2.73B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$5.58
Revenue / diluted weighted shares.
FCF per share
-$2.70
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.49
Cash from operations / diluted weighted shares.
Book value per share
-$2.79
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.56x
Market cap / revenue.
EV/Sales
4.70x
Enterprise value / revenue.
FCF yield
-86.3%
Free cash flow / market cap.
Earnings yield
-148.9%
Net income / market cap (the inverse of P/E).
Dividend yield
3.8%
Dividends paid over the period / market cap.
Shareholder yield
3.8%
(Dividends paid + share buybacks) / market cap.
What was FTAI Infrastructure Inc.'s revenue in fiscal 2025?
FTAI Infrastructure Inc. reported revenue of $502.5M for fiscal 2025, 51.6% higher than the year before.
Was FTAI Infrastructure Inc. profitable in fiscal 2025?
No. It reported a net loss of $207.4M.
How much free cash flow did FTAI Infrastructure Inc. generate in fiscal 2025?
Cash from operations of $118.0M minus capital expenditures of $280.5M left free cash flow of -$398.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.