FTAI Infrastructure Inc.

FIP

FIPFTAI Infrastructure Inc. US flag

NASDAQ Global Select

4.95

USD

+0.13

- -

584.91MMarket Cap

Income Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	229	69	120	262	320	331	503
+ Sales & Services Revenue	229	69	120	262	320	331	503
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -
Gross Profit	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Income	-229	-69	-120	-262	-320	-331	-503
- Operating Expenses	318	122	177	303	360	353	463
+ Selling, General & Admin	7	9	9	11	13	15	16
+ Research & Development	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	311	114	168	292	347	338	447
Operating Income (Loss)	-89	-54	-57	-41	-39	-22	40
- Non-Operating (Income) Loss	-92	20	53	142	118	241	195
+ Interest Expense, Net	18	11	16	53	100	122	266
+ Interest Expense	18	11	16	53	100	122	266
- Interest Income	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-110	9	37	89	18	119	-71
Pretax Income	3	-74	-110	-183	-157	-263	-155
- Income Tax Expense (Benefit)	14	-2	-4	4	2	3	-3
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-11	-72	-106	-188	-160	-266	-152
- Net Extraordinary Losses (Gains)	-35	-33	-53	-68	-77	-85	-90
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-35	-33	-53	-68	-77	-85	-90
Income (Loss) Incl. MI	24	-39	-53	-120	-83	-181	-62
- Minority Interest	18	17	26	34	38	42	45
Net Income, GAAP	6	-55	-80	-154	-121	-224	-107
- Preferred Dividends	- -	- -	- -	24	62	71	114
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	6	-55	-80	-177	-184	-294	-222
EBIT	-89	-54	-57	-41	-39	-22	40
EBITDA	-55	-22	-3	30	42	58	172
EBITDA Margin (%)	-24.17	-32.71	-2.24	11.43	12.95	17.41	34.23
EBITA	-89	-54	-57	-41	-39	-22	40
Gross Margin (%)	100	100	100	100	100	100	100
Operating Margin (%)	-38.61	-78.09	-47.17	-15.57	-12.32	-6.55	7.86
Profit Margin (%)	2.8	-80.51	-66.44	-58.63	-37.86	-67.47	-21.33
Sales per Employee	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	0.05	0.14	0.26	0.34
Depreciation Expense	33	31	54	71	81	79	132
Basic Weighted Avg Shares	99	99	99	103	103	108	115
Basic EPS, GAAP	0.06	-0.56	-0.81	-1.73	-1.78	-2.72	-1.92
Basic EPS from Cont Ops	-0.11	-0.72	-1.07	-1.83	-1.55	-2.46	-1.32
Diluted Weighted Avg Shares	99	99	99	103	103	108	115
Diluted EPS, GAAP	0.06	-0.56	-0.81	-1.73	-1.78	-2.72	-1.92
Diluted EPS from Cont Ops	-0.11	-0.72	-1.07	-1.83	-1.55	-2.46	-1.32

Balance Sheet (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	- -	85	413	278	186	220	484
+ Cash, Cash Equivalents & STI	- -	16	50	36	29	28	57
+ Cash & Cash Equivalents	- -	16	50	36	29	28	57
+ ST Investments	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	5	50	61	83	53	120
+ Accounts Receivable, Net	- -	5	50	61	56	53	95
+ Notes Receivable, Net	- -	- -	- -	- -	21	- -	14
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	6	- -	11
+ Inventories	- -	- -	- -	- -	- -	- -	1
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	1
+ Other ST Assets	- -	64	313	181	73	138	306
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	1,314	2,029	2,201	2,194	2,155	5,265
+ Property, Plant & Equip, Net	- -	1,038	1,625	1,780	1,736	1,759	4,752
+ Property, Plant & Equip	- -	1,141	1,777	1,995	2,023	2,121	5,243
- Accumulated Depreciation	- -	103	152	215	287	363	491
+ LT Investments & Receivables	- -	124	54	74	73	13	22
+ LT Investments	- -	124	54	74	73	13	22
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	153	350	347	385	383	491
+ Total Intangible Assets	- -	136	325	320	328	322	409
+ Goodwill	- -	123	257	260	275	275	366
+ Other Intangible Assets	- -	13	68	60	53	46	43
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	17	25	27	57	62	82
Total Assets	- -	1,399	2,442	2,478	2,380	2,374	5,749
+ Payables & Accruals	- -	52	116	136	131	176	281
+ Accounts Payable	- -	52	116	136	131	176	281
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	- -	26	3	7	7	56	75
+ ST Borrowings	- -	25	- -	- -	- -	49	65
+ ST Finance Leases	- -	1	3	7	7	7	9
+ Other ST Liabilities	- -	4	11	16	13	19	55
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	4	11	16	13	19	55
Total Current Liabilities	- -	82	129	160	151	251	410
+ LT Debt	- -	313	786	1,293	1,403	1,600	3,780
+ LT Borrowings	- -	253	719	1,230	1,341	1,539	3,709
+ LT Finance Leases	- -	60	68	63	62	61	71
+ Other LT Liabilities	- -	8	65	501	413	448	615
+ Accrued Liabilities	- -	- -	- -	- -	- -	10	300
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	8	65	501	413	439	315
Total Noncurrent Liabilities	- -	321	851	1,794	1,816	2,048	4,395
Total Liabilities	- -	404	980	1,954	1,967	2,299	4,805
+ Preferred Equity and Hybrid Capital	- -	- -	- -	265	325	- -	1,090
+ Share Capital & APIC	- -	- -	- -	913	845	766	625
+ Common Stock	- -	- -	- -	1	1	1	1
+ Additional Paid in Capital	- -	- -	- -	912	844	764	624
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	- -	- -	- -	-61	-182	-406	-513
+ Other Equity	- -	-26	-155	-300	-179	-157	-91
Equity Before Minority Interest	- -	973	1,462	552	484	203	1,112
+ Minority/Non Controlling Interest	- -	22	- -	-27	-71	-128	-168
Total Equity	- -	995	1,462	525	413	75	944
Total Liabilities & Equity	- -	1,399	2,442	2,478	2,380	2,374	5,749
Shares Outstanding	- -	99	99	99	101	114	116
Number of Employees	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	61	70	70	70	68	80
Net Debt	- -	263	669	1,194	1,312	1,560	3,717
Net Debt to Equity	- -	26.4	45.74	227.46	317.67	2,076.25	393.74
Tangible Common Equity Ratio	- -	68.05	53.71	-2.79	-11.72	-12.01	-10.4
Current Ratio	- -	1.03	3.19	1.74	1.23	0.88	1.18
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	-11	-72	-106	-188	-160	-266	-152
+ Depreciation & Amortization	33	31	54	71	81	79	132
+ Non-Cash Items	-92	10	14	83	47	157	-57
+ Stock-Based Compensation	2	2	4	4	9	9	11
+ Deferred Income Taxes	14	-2	-4	4	2	2	-6
+ Asset Impairment Charge	5	- -	- -	1	1	72	4
+ Other Non-Cash Adj	-113	10	14	74	35	74	-66
+ Chg in Non-Cash Work Cap	17	-16	-23	-9	38	14	-42
+ (Inc) Dec in Accts Receiv	4	10	-27	-3	3	2	-10
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	21	-14	15	7	9	21	52
+ Inc (Dec) in Other	-8	-12	-12	-13	26	-9	-84
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-53	-47	-62	-43	6	-15	-118
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	4	7	1	1	3
+ Disp of Fixed Prod Assets	- -	- -	4	7	1	1	3
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-323	-248	-141	-217	-101	-83	-281
+ Acq of Fixed Prod Assets	-323	-248	-141	-217	-101	-83	-281
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	3
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	3
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	-10	-47	-36	-36	11
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	11
+ Inc in LT Investment	- -	- -	-10	-47	-36	-36	- -
+ Net Cash From Acq & Div	63	-5	-682	-10	-12	-4	-875
+ Cash from Divestitures	92	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-29	-5	-682	-10	-12	-4	-875
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	2	- -	- -	- -	- -	4	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-259	-252	-829	-267	-147	-118	-1,143
+ Dividends Paid	- -	- -	- -	-5	-14	-28	-39
+ Net Cash From Debt	197	24	451	519	106	251	1,014
+ Cash From Debt	222	264	451	519	181	498	1,794
+ Repayments of Debt	-25	-240	- -	- -	-75	-248	-780
+ Other Financing Activities	97	314	686	-356	-13	-30	462
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	294	338	1,137	158	79	193	1,439
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-18	39	246	-152	-62	60	179
EBITDA	-55	-22	-3	30	42	58	172
EBITDA Margin (%)	-24.17	-32.71	-2.24	11.43	12.95	17.41	34.23
Free Cash Flow	-376	-294	-203	-260	-95	-98	-399
Net Cash Paid for Acquisitions	-63	5	682	10	12	4	875
Free Cash Flow to Firm	-437	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-270	253	507	10	-242	1,593
Free Cash Flow per Basic Share	-3.79	-2.97	-2.04	-2.53	-0.92	-0.91	-3.47
Price/Free Cash Flow	- -	- -	- -	1.74	3.77	11.63	3.25
Cash Flow to Net Income	-8.19	0.85	0.77	0.28	-0.05	0.07	1.1
Capital Expenditures	-323	-248	-141	-217	-101	-83	-281