FTAI Infrastructure Valuation

Is FIP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FIP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FIP ($8.47) is trading above our estimate of fair value ($0.32)

Significantly Below Fair Value: FIP is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FIP?

Key metric: As FIP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for FIP. This is calculated by dividing FIP's market cap by their current revenue.
What is FIP's PS Ratio?
PS Ratio	2.9x
Sales	US$332.17m
Market Cap	US$962.28m

FIP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	8.4x
Enterprise Value/EBITDA	46.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does FIP's PS Ratio compare to its peers?

The above table shows the PS ratio for FIP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1x
HTLD Heartland Express	0.9x	3.6%	US$959.2m
HTZ Hertz Global Holdings	0.1x	1.6%	US$1.2b
CVLG Covenant Logistics Group	0.7x	6.2%	US$750.7m
CCEC Capital Clean Energy Carriers	2.4x	12.3%	US$1.1b
FIP FTAI Infrastructure	2.9x	22.6%	US$962.3m

Price-To-Sales vs Peers: FIP is expensive based on its Price-To-Sales Ratio (2.9x) compared to the peer average (1x).

Price to Sales Ratio vs Industry

How does FIP's PS Ratio compare vs other companies in the US Transportation Industry?

11 Companies	Price / Sales	Estimated Growth	Market Cap
CAR Avis Budget Group	0.3x	1.6%	US$3.57b
HTZ Hertz Global Holdings	0.1x	1.6%	US$1.19b
DSKE Daseke	0.2x	n/a	US$391.76m
USX U.S. Xpress Enterprises	0.2x	3.1%	US$322.82m

11 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: FIP is expensive based on its Price-To-Sales Ratio (2.9x) compared to the US Transportation industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is FIP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FIP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.9x
Fair PS Ratio	1.2x

Price-To-Sales vs Fair Ratio: FIP is expensive based on its Price-To-Sales Ratio (2.9x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FIP forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	US$8.47	US$12.00 +41.7%	6.8%	US$13.00	US$11.00	n/a	3
Nov ’25	US$8.25	US$12.00 +45.5%	6.8%	US$13.00	US$11.00	n/a	3
Oct ’25	US$8.89	US$12.00 +35.0%	6.8%	US$13.00	US$11.00	n/a	3
Sep ’25	US$9.94	US$12.00 +20.7%	6.8%	US$13.00	US$11.00	n/a	3
Aug ’25	US$10.03	US$11.33 +13.0%	4.2%	US$12.00	US$11.00	n/a	3
Jun ’25	US$8.55	US$10.50 +22.8%	4.8%	US$11.00	US$10.00	n/a	2
May ’25	US$7.10	US$8.50 +19.7%	17.6%	US$10.00	US$7.00	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.