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Side-by-side financial comparison of ALLIANCE RESOURCE PARTNERS LP (ARLP) and MSA Safety Inc (MSA). 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 $510.9M, roughly 1.0× MSA Safety Inc). MSA Safety Inc runs the higher net margin — 17.0% vs 2.1%, a 14.9% gap on every dollar of revenue. On growth, MSA Safety Inc posted the faster year-over-year revenue change (2.2% vs -3.6%). MSA Safety Inc produced more free cash flow last quarter ($106.0M vs $13.3M). Over the past eight quarters, MSA Safety Inc's revenue compounded faster (11.2% CAGR vs -6.7%).
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.
Mine Safety Appliances, or MSA Safety Incorporated, is an American manufacturer and supplier of safety equipment designed for use in a variety of hazardous conditions in industries such as construction, the military, fire service, and chemical, oil, and gas production. MSA is based in the Pittsburgh suburb of Cranberry.
ARLP vs MSA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $516.0M | $510.9M |
| Net Profit | $10.7M | $86.9M |
| Gross Margin | — | 46.9% |
| Operating Margin | 4.2% | 22.3% |
| Net Margin | 2.1% | 17.0% |
| Revenue YoY | -3.6% | 2.2% |
| Net Profit YoY | — | -1.2% |
| EPS (diluted) | — | $2.22 |
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 | $535.5M | $510.9M | ||
| Q3 25 | $571.4M | $468.4M | ||
| Q2 25 | $547.5M | $474.1M | ||
| Q1 25 | $540.5M | $421.3M | ||
| Q4 24 | $590.1M | $499.7M | ||
| Q3 24 | $613.6M | $432.7M | ||
| Q2 24 | $593.4M | $462.5M |
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $86.9M | ||
| Q3 25 | $95.1M | $69.6M | ||
| Q2 25 | $59.4M | $62.8M | ||
| Q1 25 | $74.0M | $59.6M | ||
| Q4 24 | $16.3M | $87.9M | ||
| Q3 24 | $86.3M | $66.6M | ||
| Q2 24 | $100.2M | $72.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.9% | ||
| Q3 25 | — | 46.5% | ||
| Q2 25 | — | 46.6% | ||
| Q1 25 | — | 45.9% | ||
| Q4 24 | — | 46.9% | ||
| Q3 24 | — | 47.9% | ||
| Q2 24 | — | 48.2% |
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 22.3% | ||
| Q3 25 | 18.4% | 20.1% | ||
| Q2 25 | 16.2% | 18.1% | ||
| Q1 25 | 17.4% | 18.5% | ||
| Q4 24 | 2.6% | 23.5% | ||
| Q3 24 | 16.5% | 21.1% | ||
| Q2 24 | 19.8% | 21.6% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 17.0% | ||
| Q3 25 | 16.6% | 14.9% | ||
| Q2 25 | 10.9% | 13.2% | ||
| Q1 25 | 13.7% | 14.1% | ||
| Q4 24 | 2.8% | 17.6% | ||
| Q3 24 | 14.1% | 15.4% | ||
| Q2 24 | 16.9% | 15.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.22 | ||
| Q3 25 | — | $1.77 | ||
| Q2 25 | — | $1.59 | ||
| Q1 25 | — | $1.51 | ||
| Q4 24 | — | $2.22 | ||
| Q3 24 | — | $1.69 | ||
| Q2 24 | — | $1.83 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.9M | $165.1M |
| Total DebtLower is stronger | — | $580.9M |
| Stockholders' EquityBook value | — | $1.4B |
| Total Assets | $2.9B | $2.6B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $165.1M | ||
| Q3 25 | $94.5M | $170.0M | ||
| Q2 25 | $55.0M | $147.0M | ||
| Q1 25 | $81.3M | $170.6M | ||
| Q4 24 | $137.0M | $164.6M | ||
| Q3 24 | $195.4M | $154.4M | ||
| Q2 24 | $203.7M | $146.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $580.9M | ||
| Q3 25 | — | $628.6M | ||
| Q2 25 | — | $679.3M | ||
| Q1 25 | — | $502.1M | ||
| Q4 24 | — | $508.0M | ||
| Q3 24 | — | $554.7M | ||
| Q2 24 | — | $588.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.0B |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $2.6B | ||
| Q3 25 | $2.9B | $2.6B | ||
| Q2 25 | $2.9B | $2.6B | ||
| Q1 25 | $2.9B | $2.2B | ||
| Q4 24 | $2.9B | $2.2B | ||
| Q3 24 | $3.0B | $2.2B | ||
| Q2 24 | $3.1B | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.57× |
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 | — | $122.4M |
| Free Cash FlowOCF − Capex | $13.3M | $106.0M |
| FCF MarginFCF / Revenue | 2.6% | 20.8% |
| Capex IntensityCapex / Revenue | 18.5% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 1.41× |
| TTM Free Cash FlowTrailing 4 quarters | $342.2M | $295.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $122.4M | ||
| Q3 25 | $209.9M | $112.5M | ||
| Q2 25 | $151.7M | $67.2M | ||
| Q1 25 | $145.7M | $61.8M | ||
| Q4 24 | $168.4M | $107.9M | ||
| Q3 24 | $209.3M | $84.3M | ||
| Q2 24 | $215.8M | $53.3M |
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $106.0M | ||
| Q3 25 | $145.2M | $100.5M | ||
| Q2 25 | $84.7M | $37.9M | ||
| Q1 25 | $58.9M | $51.0M | ||
| Q4 24 | $75.3M | $93.5M | ||
| Q3 24 | $99.0M | $70.1M | ||
| Q2 24 | $114.3M | $39.0M |
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 20.8% | ||
| Q3 25 | 25.4% | 21.4% | ||
| Q2 25 | 15.5% | 8.0% | ||
| Q1 25 | 10.9% | 12.1% | ||
| Q4 24 | 12.8% | 18.7% | ||
| Q3 24 | 16.1% | 16.2% | ||
| Q2 24 | 19.3% | 8.4% |
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 3.2% | ||
| Q3 25 | 11.3% | 2.6% | ||
| Q2 25 | 12.2% | 6.2% | ||
| Q1 25 | 16.1% | 2.6% | ||
| Q4 24 | 15.8% | 2.9% | ||
| Q3 24 | 18.0% | 3.3% | ||
| Q2 24 | 17.1% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 1.41× | ||
| Q3 25 | 2.21× | 1.62× | ||
| Q2 25 | 2.55× | 1.07× | ||
| Q1 25 | 1.97× | 1.04× | ||
| Q4 24 | 10.31× | 1.23× | ||
| Q3 24 | 2.43× | 1.27× | ||
| Q2 24 | 2.15× | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
