FIP on Nasdaq

FTAI Infrastructure Inc.

American railroads company based in Wilmington, incorporated in Delaware. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerFIP on Nasdaq2
  • IndustryRailroads, Line-Haul Operating2
  • HeadquartersWilmington, United States2
  • Incorporated inDE3
  • Business address1345 Avenue Of The Americas, New York, Ny 101053
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation2
  • LEI5299002QA19Z1684IX112
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 64692422

Our operations consist of four primary business lines: (i) Railroad, (ii) Ports and Terminals, (iii) Power and Gas and (iv) Sustainability and Energy Transition. Our Railroad business primarily invests in and operates short line and regional railroads in North America. Our Ports and Terminals business, consisting of our Jefferson Terminal and Repauno segments, develops or acquires industrial properties in strategic locations that store and handle for third parties a variety of energy products including crude oil, refined products and clean fuels. Our Power and Gas business develops and operates facilities, such as a 485-megawatt power plant at the Long Ridge terminal in Ohio, that leverage the property’s location and key attributes to generate incremental value. Our Sustainability and Energy Transition business focuses on investments in companies and assets that utilize green technology,…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-30.3%Net margin5
51.6%Revenue growth, 20255
-713.1%Return on equity5
173.92×Debt to equity5
-$398.5MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Rail Revenue brought in 53% of the revenue FTAI Infrastructure Inc. broke down this way in fiscal 2025.

  1. Rail Revenue$172.5M553%down 3% from 2024
  2. Service, Other$95.1M529%up 2% from 2024
  3. Roadside Services Revenues$52.2M516%down 5% from 2024
  4. License and Service$5.1M52%up 3% from 2024
  5. Product and Service, Other$324.0K50%up 912% from 2024
Products and services by year
Products and services202320242025
Rail Revenue$167.8M$178.2M$172.5M
Service, Other$83.3M$93.3M$95.1M
Roadside Services Revenues$68.2M$55.0M$52.2M
License and Service$3.1M$5.0M$5.1M
Product and Service, Other-$1.9M$32.0K$324.0K

Business segments

Power And Gas brought in 28% of the revenue FTAI Infrastructure Inc. broke down this way in fiscal 2025.

  1. Power And Gas$179.3M528%
  2. Long Ridge$179.3M528%
  3. Railroad$172.9M527%down 4% from 2024
  4. Jefferson Terminal$85.7M513%up 6% from 2024
  5. Rapauno$11.0M52%down 31% from 2024
  6. Repauno$11.0M52%down 31% from 2024
Business segments by year
Business segments202320242025
Power And Gas$0$0$179.3M
Long Ridge$179.3M
Railroad$169.4M$180.0M$172.9M
Jefferson Terminal$72.1M$80.6M$85.7M
Rapauno$10.7M$15.8M$11.0M
Repauno$10.7M$15.8M$11.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs46¢$233.3M
  • Interest53¢$265.9M
  • Income tax1¢$3.3M

Out of $502.5M in revenue.5 The company lost money this year.

Financial statements

Revenue6785$502.5M in 2025+633% since 2020
0$200.0M$400.0M$600.0M2020: $68.6M$68.6M20202021: $120.2M$120.2M2021+75%2022: $262.0M$262.0M2022+118%2023: $320.5M$320.5M2023+22%2024: $331.5M$331.5M2024+3%2025: $502.5M$502.5M2025+52%
Net income6785-$152.1M in 2025+112% since 2020
-$300.0M-$200.0M-$100.0M02020: -$71.7M-$71.7M20202021: -$106.3M-$106.3M2021+48%2022: -$187.5M-$187.5M2022+76%2023: -$159.8M-$159.8M2023−15%2024: -$266.1M-$266.1M2024+67%2025: -$152.1M-$152.1M2025−43%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue from Contract with Customer, Excluding Assessed Tax$502.5M$331.5M$320.5M
Operating expenses$299.6M$247.7M$253.7M
General and administrative$16.2M$14.8M$12.8M
Acquisition and transaction expenses$27.1M$5.5M$4.1M
Management fees and incentive allocation to affiliate$14.7M$11.3M$12.5M
Depreciation and amortization$132.5M$79.4M$81.0M
Asset impairment$4.4M$72.3M$743.0K
Total expenses$494.6M$431.0M$364.8M
Equity in earnings (losses) of unconsolidated entities$12.3M-$55.5M-$24.7M
Gain on sale of assets, net$128.8M$2.4M$6.9M
Loss on modification or extinguishment of debt-$59.3M-$8.9M-$2.0M
Interest expense-$265.9M-$122.1M-$99.6M
Other income$20.8M$20.9M$6.6M
Total other expense-$163.3M-$163.3M-$112.9M
Loss before income taxes-$155.4M-$262.8M-$157.3M
Total provision-$3.3M$3.3M$2.5M
Net loss-$152.1M-$266.1M-$159.8M
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries-$44.9M-$42.4M-$38.4M
Less: Preferred dividends and accretion on redeemable non-controlling interests$44.6M$0$0
Less: Dividends and accretion of redeemable preferred stock$55.6M$70.8M$62.4M
Net loss attributable to stockholders, before series B preferred stock dividend and loss on extinguishment of preferred stock-$207.4M-$294.5M-$183.7M
Net loss attributable to common stockholders-$260.4M-$294.5M-$183.7M
Basic (dollar per share)-$2-$3-$2
Diluted (dollars per share)-$2-$3-$2
Basic (in shares)115.2M shares108.2M shares103.0M shares
Diluted (in shares)115.2M shares108.2M shares103.0M shares

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Leadership

Who has led FTAI Infrastructure Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (7)

Former names

  • FTAI Infrastructure LLCDec 20, 2021 to Jul 25, 20223

Timeline

  1. Jul 15, 2022New chief executive Kenneth J. Nicholson becomes CEO11
  2. Dec 13, 2021Founded FTAI Infrastructure Inc. is founded2

Filings

223 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 54 major events, 70 insider forms, 32 large holders, 50 other. The latest 20:

  1. Oct 2, 20264 OWNERSHIP DOCUMENT EDGAR
  2. Sep 28, 20268-K EDGAR
  3. Aug 13, 2026SCHEDULE 13G/A EDGAR
  4. Aug 10, 202610-Q EDGAR
  5. Aug 5, 20268-K EDGAR
  6. Jul 2, 20268-K EDGAR
  7. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Jul 2, 2026SCHEDULE 13D/A EDGAR
  9. Jun 29, 20264 EDGAR
  10. Jun 29, 20264 EDGAR
  11. Jun 29, 20264 EDGAR
  12. May 29, 20268-K EDGAR
  13. May 28, 20264 EDGAR
  14. May 18, 2026SCHEDULE 13G/A EDGAR
  15. May 8, 202610-Q EDGAR
  16. May 7, 20268-K EDGAR
  17. Apr 30, 20268-K EDGAR
  18. Apr 20, 2026ARS EDGAR
  19. Apr 20, 2026DEF 14A EDGAR
  20. Apr 17, 20268-K EDGAR

The 223 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

9 open-market trades by officers, directors and large owners since October 2021: 8 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 28, 2026Fletcher Carl Russell IVCFO and CAOBuy10,000$4.58$45.8KForm 4
Aug 21, 2025Fletcher Carl Russell IVCFO and CAOBuy10,000$4.48$44.8KForm 4
May 23, 2025Fletcher Carl Russell IVCFO and CAOBuy20,000$5.33$106.6KForm 4
May 20, 2025Nicholson Kenneth J.CEO and PresidentBuy500,000$5.22$2.6MForm 4
Aug 9, 2024FINCO I Intermediate Holdco LLC10% ownerSale3,399,501$9.04$30.7MForm 4
Aug 3, 2022Christopher ScottCFO, CAOBuy7,500$2.71$20.3KForm 4
Aug 2, 2022Nicholson Kenneth J.CEO and PresidentBuy300,000$2.93$879.5KForm 4
Aug 2, 2022Adams Joseph P. Jr.DirectorBuy50,000$2.75$137.5KForm 4
Aug 2, 2022Hamilton James L.DirectorBuy2,000$2.66$5.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Wellington Management Group Llp13,490,351$62.6M0.0%+1,259,468
Washington State Investment Board11,785,779$54.7M20.4%No change
BlackRock, Inc.8,950,618$41.5M0.0%+708,946
Frontier Capital Management Co LLC8,257,704$38.3M0.4%+702,012
First Eagle Investment Management, LLC5,495,124$25.5M0.0%+2,969,562
Caspian Capital LP5,211,307$24.2M13.7%No change
Vanguard Capital Management LLC4,847,955$22.5M0.0%+162,654
Alliancebernstein L.P.4,253,292$21.0M0.0%−944,709
Long Focus Capital Management, LLC3,517,209$16.3M0.7%−556,096
Royce & Associates LP3,307,338$15.3M0.1%+410,160
State Street Corp3,001,777$13.9M0.0%+307,478
Geode Capital Management, LLC2,946,803$13.7M0.0%+174,165
Garnet Equity Capital Holdings, Inc.2,164,177$10.0M4.5%+205,458
Shay Capital LLC2,134,051$9.9M1.1%−165,949
Pingora Partners LLC2,094,053$9.7M5.7%+41,400
CenterBook Partners LP1,962,977$9.1M0.4%+615,865
Diamond Hill Capital Management, LLC (Investment Advisor)1,851,613$8.6M0.1%+293,664
Goldman Sachs Group Inc1,349,528$6.3M0.0%+153,056
Ares Management LLC1,197,554$5.6M0.3%No change
Bard Associates Inc1,196,467$5.6M1.2%−8,126
UBS Group AG1,055,149$4.9M0.0%+509,190
Northern Trust Corp1,045,124$4.8M0.0%+145,296
Citadel Advisors LLC940,471$4.4M0.0%+342,054
Vanguard Portfolio Management LLC896,668$4.2M0.0%+119,255
Charles Schwab Investment Management Inc891,425$4.1M0.0%−38,787

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
May 5, 2026Brian BabinRepublican, HouseSale$1,001 - $15,000+62.3%Report
Aug 2, 2022Brian BabinRepublican, HouseBuy$1,001 - $15,000−99.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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