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Side-by-side financial comparison of ADTRAN Holdings, Inc. (ADTN) and ALLIANCE RESOURCE PARTNERS LP (ARLP). Click either name above to swap in a different company.
ALLIANCE RESOURCE PARTNERS LP is the larger business by last-quarter revenue ($516.0M vs $291.6M, roughly 1.8× ADTRAN Holdings, Inc.). ALLIANCE RESOURCE PARTNERS LP runs the higher net margin — 2.1% vs -1.2%, a 3.3% gap on every dollar of revenue. On growth, ADTRAN Holdings, Inc. posted the faster year-over-year revenue change (20.1% vs -3.6%). ADTRAN Holdings, Inc. produced more free cash flow last quarter ($30.6M vs $13.3M). Over the past eight quarters, ADTRAN Holdings, Inc.'s revenue compounded faster (13.5% CAGR vs -6.7%).
Adtran, Inc. is an American fiber networking and telecommunications company headquartered in Huntsville, Alabama. It is a vendor of both residential and enterprise networking equipment, along with administrative software for network management and deployment. Its customers include communications service providers, governments, enterprises and utilities.
Alliance Resource Partners LP is a leading North American natural resource enterprise primarily engaged in the production and marketing of coal for utility and industrial customers. It also operates complementary business segments including mineral royalty management, oil and gas extraction, and logistics support services.
ADTN vs ARLP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $291.6M | $516.0M |
| Net Profit | $-3.6M | $10.7M |
| Gross Margin | 39.0% | — |
| Operating Margin | 1.5% | 4.2% |
| Net Margin | -1.2% | 2.1% |
| Revenue YoY | 20.1% | -3.6% |
| Net Profit YoY | 92.2% | — |
| EPS (diluted) | $-0.02 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $516.0M | ||
| Q4 25 | $291.6M | $535.5M | ||
| Q3 25 | $279.4M | $571.4M | ||
| Q2 25 | $265.1M | $547.5M | ||
| Q1 25 | $247.7M | $540.5M | ||
| Q4 24 | $242.9M | $590.1M | ||
| Q3 24 | $227.7M | $613.6M | ||
| Q2 24 | $226.0M | $593.4M |
| Q1 26 | — | $10.7M | ||
| Q4 25 | $-3.6M | $82.7M | ||
| Q3 25 | $-10.3M | $95.1M | ||
| Q2 25 | $-20.5M | $59.4M | ||
| Q1 25 | $-11.3M | $74.0M | ||
| Q4 24 | $-46.1M | $16.3M | ||
| Q3 24 | $-33.3M | $86.3M | ||
| Q2 24 | $-49.7M | $100.2M |
| Q1 26 | — | — | ||
| Q4 25 | 39.0% | — | ||
| Q3 25 | 38.3% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 38.4% | — | ||
| Q4 24 | 36.9% | — | ||
| Q3 24 | 36.5% | — | ||
| Q2 24 | 36.0% | — |
| Q1 26 | — | 4.2% | ||
| Q4 25 | 1.5% | 18.2% | ||
| Q3 25 | -1.0% | 18.4% | ||
| Q2 25 | -5.0% | 16.2% | ||
| Q1 25 | -1.6% | 17.4% | ||
| Q4 24 | -6.9% | 2.6% | ||
| Q3 24 | -11.5% | 16.5% | ||
| Q2 24 | -17.0% | 19.8% |
| Q1 26 | — | 2.1% | ||
| Q4 25 | -1.2% | 15.4% | ||
| Q3 25 | -3.7% | 16.6% | ||
| Q2 25 | -7.7% | 10.9% | ||
| Q1 25 | -4.5% | 13.7% | ||
| Q4 24 | -19.0% | 2.8% | ||
| Q3 24 | -14.6% | 14.1% | ||
| Q2 24 | -22.0% | 16.9% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.12 | — | ||
| Q2 25 | $-0.24 | — | ||
| Q1 25 | $-0.14 | — | ||
| Q4 24 | $-0.58 | — | ||
| Q3 24 | $-0.38 | — | ||
| Q2 24 | $-0.63 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $95.7M | $28.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $145.8M | — |
| Total Assets | $1.2B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.9M | ||
| Q4 25 | $95.7M | $71.2M | ||
| Q3 25 | $93.7M | $94.5M | ||
| Q2 25 | $106.3M | $55.0M | ||
| Q1 25 | $101.3M | $81.3M | ||
| Q4 24 | $76.0M | $137.0M | ||
| Q3 24 | $88.5M | $195.4M | ||
| Q2 24 | $111.2M | $203.7M |
| Q1 26 | — | — | ||
| Q4 25 | $145.8M | — | ||
| Q3 25 | $141.6M | — | ||
| Q2 25 | $169.6M | — | ||
| Q1 25 | $138.9M | — | ||
| Q4 24 | $127.0M | — | ||
| Q3 24 | $205.6M | — | ||
| Q2 24 | $213.6M | — |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $1.2B | $2.9B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.2B | $2.9B | ||
| Q1 25 | $1.2B | $2.9B | ||
| Q4 24 | $1.2B | $2.9B | ||
| Q3 24 | $1.3B | $3.0B | ||
| Q2 24 | $1.3B | $3.1B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $42.2M | — |
| Free Cash FlowOCF − Capex | $30.6M | $13.3M |
| FCF MarginFCF / Revenue | 10.5% | 2.6% |
| Capex IntensityCapex / Revenue | 4.0% | 18.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $98.0M | $342.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $42.2M | $143.9M | ||
| Q3 25 | $12.2M | $209.9M | ||
| Q2 25 | $32.2M | $151.7M | ||
| Q1 25 | $43.2M | $145.7M | ||
| Q4 24 | $2.4M | $168.4M | ||
| Q3 24 | $43.3M | $209.3M | ||
| Q2 24 | $19.9M | $215.8M |
| Q1 26 | — | $13.3M | ||
| Q4 25 | $30.6M | $99.1M | ||
| Q3 25 | $4.2M | $145.2M | ||
| Q2 25 | $27.5M | $84.7M | ||
| Q1 25 | $35.8M | $58.9M | ||
| Q4 24 | $-895.0K | $75.3M | ||
| Q3 24 | $37.1M | $99.0M | ||
| Q2 24 | $8.4M | $114.3M |
| Q1 26 | — | 2.6% | ||
| Q4 25 | 10.5% | 18.5% | ||
| Q3 25 | 1.5% | 25.4% | ||
| Q2 25 | 10.4% | 15.5% | ||
| Q1 25 | 14.4% | 10.9% | ||
| Q4 24 | -0.4% | 12.8% | ||
| Q3 24 | 16.3% | 16.1% | ||
| Q2 24 | 3.7% | 19.3% |
| Q1 26 | — | 18.5% | ||
| Q4 25 | 4.0% | 8.4% | ||
| Q3 25 | 2.9% | 11.3% | ||
| Q2 25 | 1.8% | 12.2% | ||
| Q1 25 | 3.0% | 16.1% | ||
| Q4 24 | 1.4% | 15.8% | ||
| Q3 24 | 2.7% | 18.0% | ||
| Q2 24 | 5.1% | 17.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.74× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.55× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 10.31× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADTN
| Subscriber Solutions | $96.2M | 33% |
| Optical Networking Solutions | $81.8M | 28% |
| Access Aggregation Solutions | $64.6M | 22% |
| Services And Support | $48.9M | 17% |
ARLP
| Coal sales | $443.3M | 86% |
| Oil & gas royalties | $41.3M | 8% |
| Other revenues | $22.8M | 4% |
| Transportation revenues | $8.6M | 2% |
| Tons Produced | $8.0M | 2% |
| Mineral Interest Volumes (BOE) | $1.0M | 0% |
