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Apple Hospitality REIT, Inc.（APLE）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Apple Hospitality REIT, Inc.的1.6倍（$516.0M vs $326.4M），Apple Hospitality REIT, Inc.净利率更高（9.1% vs 2.1%，领先7.0%），Apple Hospitality REIT, Inc.同比增速更快（-2.0% vs -3.6%），Apple Hospitality REIT, Inc.自由现金流更多（$282.0M vs $13.3M），过去两年Apple Hospitality REIT, Inc.的营收复合增速更高（-0.5% vs -6.7%）
莱曼 hospitality properties是一家深耕酒店、度假村、娱乐及媒体领域的企业，得名于旗下核心资产——位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾作为爱德华·盖洛德旗下俄克拉荷马出版公司子公司的时期，1983年收购WSM公司后，拿下大奥普里等知名IP，奠定了如今的业务发展基础。
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。
APLE vs ARLP — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $326.4M | $516.0M |
| 净利润 | $29.6M | $10.7M |
| 毛利率 | 37.2% | — |
| 营业利润率 | 15.2% | 4.2% |
| 净利率 | 9.1% | 2.1% |
| 营收同比 | -2.0% | -3.6% |
| 净利润同比 | -0.7% | — |
| 每股收益（稀释后） | $0.13 | — |
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 | $326.4M | $535.5M | ||
| Q3 25 | $373.9M | $571.4M | ||
| Q2 25 | $384.4M | $547.5M | ||
| Q1 25 | $327.7M | $540.5M | ||
| Q4 24 | $333.0M | $590.1M | ||
| Q3 24 | $378.8M | $613.6M | ||
| Q2 24 | $390.1M | $593.4M |
| Q1 26 | — | $10.7M | ||
| Q4 25 | $29.6M | $82.7M | ||
| Q3 25 | $50.9M | $95.1M | ||
| Q2 25 | $63.6M | $59.4M | ||
| Q1 25 | $31.2M | $74.0M | ||
| Q4 24 | $29.8M | $16.3M | ||
| Q3 24 | $56.3M | $86.3M | ||
| Q2 24 | $73.9M | $100.2M |
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | — | ||
| Q3 25 | 40.6% | — | ||
| Q2 25 | 42.6% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 38.6% | — | ||
| Q3 24 | 41.9% | — | ||
| Q2 24 | 44.6% | — |
| Q1 26 | — | 4.2% | ||
| Q4 25 | 15.2% | 18.2% | ||
| Q3 25 | 19.4% | 18.4% | ||
| Q2 25 | 22.1% | 16.2% | ||
| Q1 25 | 15.5% | 17.4% | ||
| Q4 24 | 15.0% | 2.6% | ||
| Q3 24 | 20.5% | 16.5% | ||
| Q2 24 | 24.0% | 19.8% |
| Q1 26 | — | 2.1% | ||
| Q4 25 | 9.1% | 15.4% | ||
| Q3 25 | 13.6% | 16.6% | ||
| Q2 25 | 16.6% | 10.9% | ||
| Q1 25 | 9.5% | 13.7% | ||
| Q4 24 | 9.0% | 2.8% | ||
| Q3 24 | 14.9% | 14.1% | ||
| Q2 24 | 19.0% | 16.9% |
| Q1 26 | — | — | ||
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.21 | — | ||
| Q2 25 | $0.27 | — | ||
| Q1 25 | $0.13 | — | ||
| Q4 24 | $0.13 | — | ||
| Q3 24 | $0.23 | — | ||
| Q2 24 | $0.31 | — |
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 | $8.5M | $28.9M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $3.1B | — |
| 总资产 | $4.9B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.49× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | $28.9M | ||
| Q4 25 | $8.5M | $71.2M | ||
| Q3 25 | $50.3M | $94.5M | ||
| Q2 25 | $7.9M | $55.0M | ||
| Q1 25 | $14.9M | $81.3M | ||
| Q4 24 | $10.3M | $137.0M | ||
| Q3 24 | $6.1M | $195.4M | ||
| Q2 24 | $7.2M | $203.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.3B | — |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $4.9B | $2.9B | ||
| Q3 25 | $4.9B | $2.9B | ||
| Q2 25 | $4.9B | $2.9B | ||
| Q1 25 | $4.9B | $2.9B | ||
| Q4 24 | $5.0B | $2.9B | ||
| Q3 24 | $5.0B | $3.0B | ||
| Q2 24 | $5.1B | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.46× | — | ||
| Q2 24 | 0.46× | — |
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 | $370.2M | — |
| 自由现金流经营现金流 - 资本支出 | $282.0M | $13.3M |
| 自由现金流率自由现金流/营收 | 86.4% | 2.6% |
| 资本支出强度资本支出/营收 | 27.0% | 18.5% |
| 现金转化率经营现金流/净利润 | 12.50× | — |
| 过去12个月自由现金流最近4个季度 | $516.8M | $342.2M |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $370.2M | $143.9M | ||
| Q3 25 | $126.4M | $209.9M | ||
| Q2 25 | $108.8M | $151.7M | ||
| Q1 25 | $49.1M | $145.7M | ||
| Q4 24 | $405.4M | $168.4M | ||
| Q3 24 | $128.2M | $209.3M | ||
| Q2 24 | $127.3M | $215.8M |
| Q1 26 | — | $13.3M | ||
| Q4 25 | $282.0M | $99.1M | ||
| Q3 25 | $109.0M | $145.2M | ||
| Q2 25 | $96.2M | $84.7M | ||
| Q1 25 | $29.5M | $58.9M | ||
| Q4 24 | $327.1M | $75.3M | ||
| Q3 24 | $113.1M | $99.0M | ||
| Q2 24 | $115.0M | $114.3M |
| Q1 26 | — | 2.6% | ||
| Q4 25 | 86.4% | 18.5% | ||
| Q3 25 | 29.2% | 25.4% | ||
| Q2 25 | 25.0% | 15.5% | ||
| Q1 25 | 9.0% | 10.9% | ||
| Q4 24 | 98.2% | 12.8% | ||
| Q3 24 | 29.9% | 16.1% | ||
| Q2 24 | 29.5% | 19.3% |
| Q1 26 | — | 18.5% | ||
| Q4 25 | 27.0% | 8.4% | ||
| Q3 25 | 4.7% | 11.3% | ||
| Q2 25 | 3.3% | 12.2% | ||
| Q1 25 | 6.0% | 16.1% | ||
| Q4 24 | 23.5% | 15.8% | ||
| Q3 24 | 4.0% | 18.0% | ||
| Q2 24 | 3.2% | 17.1% |
| Q1 26 | — | — | ||
| Q4 25 | 12.50× | 1.74× | ||
| Q3 25 | 2.49× | 2.21× | ||
| Q2 25 | 1.71× | 2.55× | ||
| Q1 25 | 1.57× | 1.97× | ||
| Q4 24 | 13.59× | 10.31× | ||
| Q3 24 | 2.28× | 2.43× | ||
| Q2 24 | 1.72× | 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
APLE
| Occupancy | $293.0M | 90% |
| Hotel Other | $17.2M | 5% |
| Food And Beverage | $16.3M | 5% |
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% |
