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AAR CORP（AIR）与ALLIANCE RESOURCE PARTNERS LP（ARLP）财务数据对比。点击上方公司名可切换其他公司
AAR CORP的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.5倍（$795.3M vs $516.0M），AAR CORP净利率更高（4.4% vs 2.1%，领先2.3%），AAR CORP同比增速更快（15.9% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $6.2M）
AAR CORP是一家美国航空服务企业，为全球商业及政府客户提供飞机维护相关服务，总部位于伊利诺伊州芝加哥郊区的伍德戴尔，在约30个国家开展业务，现有员工约6000人，现任首席执行官为约翰·霍姆斯。
联合资源伙伴有限合伙是北美领先的自然资源企业，核心业务为公用事业及工业客户生产、销售煤炭，同时运营矿权特许经营、油气开采、物流配套等关联业务，服务覆盖美国及周边主要能源消费市场。
AIR vs ARLP — 直观对比
营收规模更大
AIR
是对方的1.5倍
$516.0M
营收增速更快
AIR
高出19.6%
-3.6%
净利率更高
AIR
高出2.3%
2.1%
自由现金流更多
ARLP
多$7.1M
$6.2M
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $795.3M | $516.0M |
| 净利润 | $34.6M | $10.7M |
| 毛利率 | 19.7% | — |
| 营业利润率 | 6.0% | 4.2% |
| 净利率 | 4.4% | 2.1% |
| 营收同比 | 15.9% | -3.6% |
| 净利润同比 | 213.1% | — |
| 每股收益（稀释后） | $0.90 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AIRARLP
| Q1 26 | — | $516.0M | ||
| Q4 25 | $795.3M | $535.5M | ||
| Q3 25 | $739.6M | $571.4M | ||
| Q2 25 | — | $547.5M | ||
| Q1 25 | — | $540.5M | ||
| Q4 24 | — | $590.1M | ||
| Q3 24 | — | $613.6M | ||
| Q2 24 | — | $593.4M |
净利润AIRARLP
| Q1 26 | — | $10.7M | ||
| Q4 25 | $34.6M | $82.7M | ||
| Q3 25 | $34.4M | $95.1M | ||
| Q2 25 | — | $59.4M | ||
| Q1 25 | — | $74.0M | ||
| Q4 24 | — | $16.3M | ||
| Q3 24 | — | $86.3M | ||
| Q2 24 | — | $100.2M |
毛利率AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | 19.7% | — | ||
| Q3 25 | 18.1% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率AIRARLP
| Q1 26 | — | 4.2% | ||
| Q4 25 | 6.0% | 18.2% | ||
| Q3 25 | 6.4% | 18.4% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 17.4% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 16.5% | ||
| Q2 24 | — | 19.8% |
净利率AIRARLP
| Q1 26 | — | 2.1% | ||
| Q4 25 | 4.4% | 15.4% | ||
| Q3 25 | 4.7% | 16.6% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | 14.1% | ||
| Q2 24 | — | 16.9% |
每股收益（稀释后）AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | $0.90 | — | ||
| Q3 25 | $0.95 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $75.6M | $28.9M |
| 总债务越低越好 | $952.7M | — |
| 股东权益账面价值 | $1.6B | — |
| 总资产 | $3.2B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.61× | — |
8季度趋势，按日历期对齐
现金及短期投资AIRARLP
| Q1 26 | — | $28.9M | ||
| Q4 25 | $75.6M | $71.2M | ||
| Q3 25 | $80.0M | $94.5M | ||
| Q2 25 | — | $55.0M | ||
| Q1 25 | — | $81.3M | ||
| Q4 24 | — | $137.0M | ||
| Q3 24 | — | $195.4M | ||
| Q2 24 | — | $203.7M |
总债务AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | $952.7M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总资产AIRARLP
| Q1 26 | — | $2.9B | ||
| Q4 25 | $3.2B | $2.9B | ||
| Q3 25 | $2.9B | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.1B |
负债/权益比AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $13.6M | — |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $13.3M |
| 自由现金流率自由现金流/营收 | 0.8% | 2.6% |
| 资本支出强度资本支出/营收 | 0.9% | 18.5% |
| 现金转化率经营现金流/净利润 | 0.39× | — |
| 过去12个月自由现金流最近4个季度 | — | $342.2M |
8季度趋势，按日历期对齐
经营现金流AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | $13.6M | $143.9M | ||
| Q3 25 | $-44.9M | $209.9M | ||
| Q2 25 | — | $151.7M | ||
| Q1 25 | — | $145.7M | ||
| Q4 24 | — | $168.4M | ||
| Q3 24 | — | $209.3M | ||
| Q2 24 | — | $215.8M |
自由现金流AIRARLP
| Q1 26 | — | $13.3M | ||
| Q4 25 | $6.2M | $99.1M | ||
| Q3 25 | $-53.6M | $145.2M | ||
| Q2 25 | — | $84.7M | ||
| Q1 25 | — | $58.9M | ||
| Q4 24 | — | $75.3M | ||
| Q3 24 | — | $99.0M | ||
| Q2 24 | — | $114.3M |
自由现金流率AIRARLP
| Q1 26 | — | 2.6% | ||
| Q4 25 | 0.8% | 18.5% | ||
| Q3 25 | -7.2% | 25.4% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 12.8% | ||
| Q3 24 | — | 16.1% | ||
| Q2 24 | — | 19.3% |
资本支出强度AIRARLP
| Q1 26 | — | 18.5% | ||
| Q4 25 | 0.9% | 8.4% | ||
| Q3 25 | 1.2% | 11.3% | ||
| Q2 25 | — | 12.2% | ||
| Q1 25 | — | 16.1% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | — | 17.1% |
现金转化率AIRARLP
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | 1.74× | ||
| Q3 25 | -1.31× | 2.21× | ||
| Q2 25 | — | 2.55× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 10.31× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.15× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AIR
| Commercial Customer | $268.1M | 34% |
| Repair And Engineering | $244.5M | 31% |
| Integrated Solutions | $175.8M | 22% |
| Government And Defense Customer | $85.5M | 11% |
| Expeditionary Services | $21.4M | 3% |
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% |
