FTAI Infrastructure Inc. (FIP) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-12379.0%

-$348.72

vs $2.84 price

Levered DCF

-$494.64

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.28

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-2.04×	-2.67×	-2.19×	-1.71×	-3.7×	-5.36×	50×
P/B	0.48×	1.35×	0.49×	0.36×	0.2×	0.31×	0.41×
P/S	1.06×	2.37×	1.25×	1.12×	2.48×	4.34×	1.3×
EV / EBITDA	17×	-39.42×	76.42×	-26.37×	-25.96×	-19.52×	10.77×
Gross margin	11.1%	100.0%	-8.3%	-11.4%	100.0%	-65.7%	-35.4%
Operating margin	7.9%	-6.5%	-12.3%	-15.6%	-47.2%	-78.1%	-38.6%
Net margin	-21.3%	-67.5%	-37.9%	-58.6%	-66.4%	-80.5%	2.8%
Current ratio	0.25×	0.88×	1.23×	1.74×	3.19×	1.03×	0.18×
Debt / equity	3.53×	2.84×	1.74×	1.59×	0.54×	0.35×	0.4×
Interest coverage	0.15×	-0.18×	-0.4×	-0.77×	-3.54×	-4.97×	-4.95×
Dividend yield	2.6%	3.5%	3.5%	1.7%	0.0%	0.0%	0.0%
Payout ratio	-12.9%	-12.4%	-11.6%	-3.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-9.6%	-38.3%	-15.0%	-18.8%	-5.5%	-5.7%	0.9%
Return on invested capital	0.7%	-1.0%	-1.8%	-1.8%	-2.4%	-3.9%	28.3%
Return on assets	-1.9%	-9.4%	-5.1%	-6.2%	-3.3%	-3.9%	0.6%
Free cash flow yield	-75.2%	-12.5%	-23.8%	-88.6%	-68.1%	-98.9%	-126.3%
Earnings yield	-20.2%	-28.5%	-30.3%	-52.4%	-26.8%	-18.6%	2.2%
Enterprise value	$4.1B	$2.4B	$1.8B	$1.6B	$1B	$621.2M	$584.3M
Net debt / EBITDA	14.81×	-26.59×	59.24×	-21.4×	-18.51×	-10.17×	5.28×
Cash conversion cycle (days)	-160	59	-73	61	153	-141	-59