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NASDAQ NMS - GLOBAL MARKET · Road & Rail · CIK 0001899883
$2.52
+4.56% · live
Updated
$293.1M market value
From FTAI Infrastructure Inc.'s FY2025 10-K, filed Mar 16, 2026 · read the filing
FTAI Infrastructure runs railways and local transport. It took in $502.5M last year, which makes it a smaller company. It spends more than it earns — losing about 30 cents on every dollar of sales.
The financial picture is led by growth, while profitability and debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score -0.07
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From FTAI Infrastructure Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Revenue
$331.5M → $502.5M
Profit
-$266.1M → -$152.1M
Profit margin
-80.3% → -30.3%
Free cash flow
-$94.8M → -$398.5M
Measured against FY2024, from the 10-K filed Mar 16, 2026
Improved: +51.6%
$331.5M to $502.5MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
How the latest move compares (quote live), and what was published around it
FIP rose 4.56% on the latest quote. The average Industrials company tracked here moved +0.37%, and the S&P 500 −1.04%. That is 4.2 points above its sector and 5.6 points above the market.
No filing from FIP and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 8 analysts covering this company, as of . Their views, not this site's.
Of 8 analysts publishing on this company, 3 say strong buy, 4 say buy and 1 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $152.1M last year, losing about 30 cents on every dollar of sales.
Yes, quickly. Sales grew 51.6% last year.
Yes — it carries debt while operations are consuming cash rather than generating it. For every $1 it owes, it owns $1.20 in assets. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid a dividend while making a loss, so the payment did not come out of profits — it came from reserves, borrowing or asset sales. It has paid in each of the last 4 years.
WeakFigures from the FY2025 annual filing
Last year it lost $152.1M and generated -$118.0M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Mar 16, 2026Filing for FY2025 | FY202410-K · Mar 16, 2026Filing for FY2024 | FY202310-K · Mar 27, 2024Filing for FY2023 | FY202210-K · Mar 9, 2023Filing for FY2022 | FY202110-K · Mar 9, 2023Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $502.5M | $331.5M | $320.5M | $262.0M | $120.2M | +51.6% |
| Selling, general and administrative | $16.2M | $14.8M | $12.8M | $10.9M | $8.7M | +9.6% |
| Interest expense | $265.9M | $122.1M | $99.6M | $53.2M | $16.0M | +117.8% |
| Income before tax | -$155.4M | -$262.8M | -$157.3M | -$183.0M | -$110.0M | +40.9% |
| Net income | -$152.1M | -$266.1M | -$159.8M | -$187.5M | -$106.3M | +42.9% |
| Net marginNet income ÷ revenueWhat is this? | -30.3% | -80.3% | -49.8% | -71.6% | -88.5% | +50.0 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-1.31 | $-2.34 | $-1.59 | $-1.89 | $-1.07 | +44.0% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| FIPFTAI Infrastructure Inc. · this page | 4.7/10 | 4/8 | 51.6% |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Was granted or awarded shares — 2,020 shares
Holds 14,047 shares after this filing.
Was granted or awarded shares — 1,010 shares
Holds 9,410 shares after this filing.
Was granted or awarded shares — 15,152 shares
Holds 111,991 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Signed a material agreement · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Revenue +52.7% · Profit margin −17.4 pts · Profit $69.5M wider — against Q2 FY2025
Read the filingWrite down why you are following FTAI Infrastructure Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 108 subsidiaries named in its 10-K, incorporated across 10 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from FIP's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Mar 16, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 4.7 | 4/8 | 10-K, filed Mar 16, 2026 |
| FY2024 | 3.3 | 2/8 | 10-K, filed Mar 13, 2025 |
| FY2023 | 4.7 | 5/8 | 10-K, filed Mar 27, 2024 |
| FY2022 | 4.7 | 3/8 | 10-K, filed Mar 9, 2023 |
| FY2021 | 4.7 | 2/4 | 10-K, filed Mar 9, 2023 |
| FY2020 | 2.0 | 1/2 | 10-K, filed Mar 9, 2023 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
4 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
-0.07
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: $114.0M narrower
-$266.1M to -$152.1MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +50.0 pts
-80.3% to -30.3%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: $303.7M wider
-$94.8M to -$398.5MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: $1.03 narrower
-$2.34 to -$1.31Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +140.9%
$1.54B to $3.71BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +106.4%
$27.8M to $57.4MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +252.7%
$79.5M to $280.5MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Deteriorated: +2.1%
113.9M to 116.3MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Changed: +5.4%
$13.1M to $13.8MNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 10, 2026 — read it.
Improved: +52.7%
$122.3M to $186.8MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: $69.5M wider
-$70.0M to -$139.4MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −17.4 pts
-57.2% to -74.7%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: $0.57 wider
-$0.61 to -$1.18Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -23.8%
$3.00B to $2.29BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Deteriorated: +2.7%
115.1M to 118.2MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 10, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: −7.1 pts
-67.5% to -74.7%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: -39.6%
$3.79B to $2.29BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Deteriorated: $12.2M wider
-$127.2M to -$139.4MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: $0.10 wider
-$1.08 to -$1.18Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -13.8%
$37.9M to $32.6MNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 16.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
| -30.3% |
| — |
| 225.32x |
| UNPUNION PACIFIC CORP | 7.3/10 | 7/8 | 1.1% | 29.1% | 24.77x | 2.77x |
|---|
| CSXCSX CORP | 6.0/10 | 5/8 | -3.1% | 20.5% | 33.27x | 2.32x |
|---|
| NSCNORFOLK SOUTHERN CORP | 7.3/10 | 6/8 | 0.5% | 23.6% | 26.42x | 1.91x |
|---|
| Median of peers | 7.3/10 | — | 0.5% | 23.6% | 26.42x | 2.32x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results
Signed a material agreement · Took on a direct financial obligation
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +95.9% · Profit margin −192.5 pts · Profit turned negative — against Q1 FY2025
Read the filingPublished results
Read the filingSigned a material agreement · Made a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingChanged its auditor
Read the filingAnnual report for FY2025
Revenue +51.6% · Profit margin +50.0 pts · Profit $114.0M narrower — against FY2024
Read the filingSigned a material agreement · Terminated a material agreement · Published results
Read the filingMade a Regulation FD disclosure · Reported another event
Read the filingQuarterly report for Q3 FY2025
Revenue +68.7% · Profit margin −22.8 pts · Profit $61.6M wider — against Q3 FY2024
Read the filingPublished results
Read the filingMade a Regulation FD disclosure
Read the filingSigned a material agreement · Terminated a material agreement · Completed an acquisition or disposal · Took on a direct financial obligation · Sold shares outside a public offering · Changed the rights attached to its shares · Reported another event
Read the filingQuarterly report for Q2 FY2025
Revenue +44.1% · Profit $21.8M wider · Long-term debt +93.1% — against Q2 FY2024
Read the filingPublished results
Read the filingSigned a material agreement · Made a Regulation FD disclosure
Read the filingThe first 40 of 108. The rest are in the exhibit.
Source: Exhibit 21 of the 10-K filed 2026-03-16. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
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