vs
Artisan Partners Asset Management Inc.（APAM）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
ALLIANCE RESOURCE PARTNERS LP的季度营收约是Artisan Partners Asset Management Inc.的1.5倍（$516.0M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 2.1%，领先33.1%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs -3.6%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $13.3M），过去两年Artisan Partners Asset Management Inc.的营收复合增速更高（12.7% vs -6.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
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。
APAM vs ARLP — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $516.0M |
| 净利润 | $118.1M | $10.7M |
| 毛利率 | — | — |
| 营业利润率 | 39.2% | 4.2% |
| 净利率 | 35.2% | 2.1% |
| 营收同比 | 12.9% | -3.6% |
| 净利润同比 | 34.9% | — |
| 每股收益（稀释后） | $1.36 | — |
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
| Q1 26 | — | $516.0M | ||
| Q4 25 | $335.5M | $535.5M | ||
| Q3 25 | $301.3M | $571.4M | ||
| Q2 25 | $282.7M | $547.5M | ||
| Q1 25 | $277.1M | $540.5M | ||
| Q4 24 | $297.1M | $590.1M | ||
| Q3 24 | $279.6M | $613.6M | ||
| Q2 24 | $270.8M | $593.4M |
| Q1 26 | — | $10.7M | ||
| Q4 25 | $118.1M | $82.7M | ||
| Q3 25 | $66.8M | $95.1M | ||
| Q2 25 | $67.6M | $59.4M | ||
| Q1 25 | $61.1M | $74.0M | ||
| Q4 24 | $87.5M | $16.3M | ||
| Q3 24 | $73.0M | $86.3M | ||
| Q2 24 | $57.6M | $100.2M |
| Q1 26 | — | 4.2% | ||
| Q4 25 | 39.2% | 18.2% | ||
| Q3 25 | 33.8% | 18.4% | ||
| Q2 25 | 28.2% | 16.2% | ||
| Q1 25 | 31.2% | 17.4% | ||
| Q4 24 | 36.7% | 2.6% | ||
| Q3 24 | 33.3% | 16.5% | ||
| Q2 24 | 32.0% | 19.8% |
| Q1 26 | — | 2.1% | ||
| Q4 25 | 35.2% | 15.4% | ||
| Q3 25 | 22.2% | 16.6% | ||
| Q2 25 | 23.9% | 10.9% | ||
| Q1 25 | 22.1% | 13.7% | ||
| Q4 24 | 29.5% | 2.8% | ||
| Q3 24 | 26.1% | 14.1% | ||
| Q2 24 | 21.3% | 16.9% |
| Q1 26 | — | — | ||
| Q4 25 | $1.36 | — | ||
| Q3 25 | $0.93 | — | ||
| Q2 25 | $0.94 | — | ||
| Q1 25 | $0.82 | — | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $0.80 | — |
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 | — | $28.9M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | — |
| 总资产 | $1.6B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | $28.9M | ||
| Q4 25 | — | $71.2M | ||
| Q3 25 | — | $94.5M | ||
| Q2 25 | — | $55.0M | ||
| Q1 25 | — | $81.3M | ||
| Q4 24 | — | $137.0M | ||
| Q3 24 | — | $195.4M | ||
| Q2 24 | — | $203.7M |
| Q1 26 | — | — | ||
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $438.8M | — | ||
| Q3 25 | $402.1M | — | ||
| Q2 25 | $381.8M | — | ||
| Q1 25 | $356.5M | — | ||
| Q4 24 | $388.9M | — | ||
| Q3 24 | $372.1M | — | ||
| Q2 24 | $341.2M | — |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.6B | $2.9B | ||
| Q2 25 | $1.4B | $2.9B | ||
| Q1 25 | $1.4B | $2.9B | ||
| Q4 24 | $1.6B | $2.9B | ||
| Q3 24 | $1.6B | $3.0B | ||
| Q2 24 | $1.5B | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — |
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 | $172.0M | — |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $13.3M |
| 自由现金流率自由现金流/营收 | 51.2% | 2.6% |
| 资本支出强度资本支出/营收 | 0.1% | 18.5% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | $342.2M |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $172.0M | $143.9M | ||
| Q3 25 | $40.4M | $209.9M | ||
| Q2 25 | $50.9M | $151.7M | ||
| Q1 25 | $157.9M | $145.7M | ||
| Q4 24 | $372.8M | $168.4M | ||
| Q3 24 | $112.8M | $209.3M | ||
| Q2 24 | $75.9M | $215.8M |
| Q1 26 | — | $13.3M | ||
| Q4 25 | $171.6M | $99.1M | ||
| Q3 25 | $40.4M | $145.2M | ||
| Q2 25 | $50.9M | $84.7M | ||
| Q1 25 | $157.7M | $58.9M | ||
| Q4 24 | $371.3M | $75.3M | ||
| Q3 24 | $112.4M | $99.0M | ||
| Q2 24 | $75.2M | $114.3M |
| Q1 26 | — | 2.6% | ||
| Q4 25 | 51.2% | 18.5% | ||
| Q3 25 | 13.4% | 25.4% | ||
| Q2 25 | 18.0% | 15.5% | ||
| Q1 25 | 56.9% | 10.9% | ||
| Q4 24 | 125.0% | 12.8% | ||
| Q3 24 | 40.2% | 16.1% | ||
| Q2 24 | 27.8% | 19.3% |
| Q1 26 | — | 18.5% | ||
| Q4 25 | 0.1% | 8.4% | ||
| Q3 25 | 0.0% | 11.3% | ||
| Q2 25 | 0.0% | 12.2% | ||
| Q1 25 | 0.1% | 16.1% | ||
| Q4 24 | 0.5% | 15.8% | ||
| Q3 24 | 0.1% | 18.0% | ||
| Q2 24 | 0.2% | 17.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 1.74× | ||
| Q3 25 | 0.60× | 2.21× | ||
| Q2 25 | 0.75× | 2.55× | ||
| Q1 25 | 2.58× | 1.97× | ||
| Q4 24 | 4.26× | 10.31× | ||
| Q3 24 | 1.54× | 2.43× | ||
| Q2 24 | 1.32× | 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
APAM
暂无分部数据
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% |
