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ALLIANCE RESOURCE PARTNERS LP（ARLP）与AdvanSix Inc.（ASIX）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AdvanSix Inc.的1.5倍（$535.5M vs $359.9M）。ALLIANCE RESOURCE PARTNERS LP净利率更高（15.4% vs -0.8%，领先16.2%）。AdvanSix Inc.同比增速更快（9.4% vs -9.2%）。ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$99.1M vs $36.1M）。过去两年AdvanSix Inc.的营收复合增速更高（3.4% vs -9.4%）
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。
AdvanSix Inc.是一家美国化工企业，主营尼龙6以及己内酰胺、硫酸铵肥料等相关化工产品。该公司原为霍尼韦尔旗下树脂与化工事业部，于2016年分拆独立，2019年预估营收达14亿美元，其企业历史可追溯至1884年在宾夕法尼亚州法兰克福成立的H. W. Jayne公司。
ARLP vs ASIX — 直观对比
营收规模更大
ARLP
是对方的1.5倍
$359.9M
营收增速更快
ASIX
高出18.6%
-9.2%
净利率更高
ARLP
高出16.2%
-0.8%
自由现金流更多
ARLP
多$63.0M
$36.1M
两年增速更快
ASIX
近两年复合增速
-9.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $535.5M | $359.9M |
| 净利润 | $82.7M | $-2.8M |
| 毛利率 | — | 7.6% |
| 营业利润率 | 18.2% | -0.7% |
| 净利率 | 15.4% | -0.8% |
| 营收同比 | -9.2% | 9.4% |
| 净利润同比 | 406.2% | -892.9% |
| 每股收益（稀释后） | — | $-0.11 |
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ARLPASIX
| Q4 25 | $535.5M | $359.9M | ||
| Q3 25 | $571.4M | $374.5M | ||
| Q2 25 | $547.5M | $410.0M | ||
| Q1 25 | $540.5M | $377.8M | ||
| Q4 24 | $590.1M | $329.1M | ||
| Q3 24 | $613.6M | $398.2M | ||
| Q2 24 | $593.4M | $453.5M | ||
| Q1 24 | $651.7M | $336.8M |
净利润ARLPASIX
| Q4 25 | $82.7M | $-2.8M | ||
| Q3 25 | $95.1M | $-2.6M | ||
| Q2 25 | $59.4M | $31.4M | ||
| Q1 25 | $74.0M | $23.3M | ||
| Q4 24 | $16.3M | $352.0K | ||
| Q3 24 | $86.3M | $22.3M | ||
| Q2 24 | $100.2M | $38.9M | ||
| Q1 24 | $158.1M | $-17.4M |
毛利率ARLPASIX
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 17.9% | ||
| Q1 24 | — | 0.9% |
营业利润率ARLPASIX
| Q4 25 | 18.2% | -0.7% | ||
| Q3 25 | 18.4% | -0.9% | ||
| Q2 25 | 16.2% | 7.7% | ||
| Q1 25 | 17.4% | 7.7% | ||
| Q4 24 | 2.6% | -3.9% | ||
| Q3 24 | 16.5% | 7.5% | ||
| Q2 24 | 19.8% | 11.5% | ||
| Q1 24 | 24.6% | -7.0% |
净利率ARLPASIX
| Q4 25 | 15.4% | -0.8% | ||
| Q3 25 | 16.6% | -0.7% | ||
| Q2 25 | 10.9% | 7.7% | ||
| Q1 25 | 13.7% | 6.2% | ||
| Q4 24 | 2.8% | 0.1% | ||
| Q3 24 | 14.1% | 5.6% | ||
| Q2 24 | 16.9% | 8.6% | ||
| Q1 24 | 24.3% | -5.2% |
每股收益（稀释后）ARLPASIX
| Q4 25 | — | $-0.11 | ||
| Q3 25 | — | $-0.10 | ||
| Q2 25 | — | $1.15 | ||
| Q1 25 | — | $0.86 | ||
| Q4 24 | — | $0.02 | ||
| Q3 24 | — | $0.82 | ||
| Q2 24 | — | $1.43 | ||
| Q1 24 | — | $-0.65 |
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 | $71.2M | $19.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $815.2M |
| 总资产 | $2.9B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARLPASIX
| Q4 25 | $71.2M | $19.8M | ||
| Q3 25 | $94.5M | $23.7M | ||
| Q2 25 | $55.0M | $18.4M | ||
| Q1 25 | $81.3M | $8.3M | ||
| Q4 24 | $137.0M | $19.6M | ||
| Q3 24 | $195.4M | $17.3M | ||
| Q2 24 | $203.7M | $12.1M | ||
| Q1 24 | $134.0M | $20.6M |
股东权益ARLPASIX
| Q4 25 | — | $815.2M | ||
| Q3 25 | — | $818.2M | ||
| Q2 25 | — | $823.7M | ||
| Q1 25 | — | $794.4M | ||
| Q4 24 | — | $774.6M | ||
| Q3 24 | — | $766.4M | ||
| Q2 24 | — | $746.6M | ||
| Q1 24 | — | $713.2M |
总资产ARLPASIX
| Q4 25 | $2.9B | $1.7B | ||
| Q3 25 | $2.9B | $1.7B | ||
| Q2 25 | $2.9B | $1.6B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $2.9B | $1.6B | ||
| Q3 24 | $3.0B | $1.5B | ||
| Q2 24 | $3.1B | $1.5B | ||
| Q1 24 | $3.0B | $1.5B |
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 | $143.9M | $63.7M |
| 自由现金流经营现金流 - 资本支出 | $99.1M | $36.1M |
| 自由现金流率自由现金流/营收 | 18.5% | 10.0% |
| 资本支出强度资本支出/营收 | 8.4% | 7.7% |
| 现金转化率经营现金流/净利润 | 1.74× | — |
| 过去12个月自由现金流最近4个季度 | $387.9M | $6.4M |
8季度趋势，按日历期对齐
经营现金流ARLPASIX
| Q4 25 | $143.9M | $63.7M | ||
| Q3 25 | $209.9M | $26.6M | ||
| Q2 25 | $151.7M | $21.1M | ||
| Q1 25 | $145.7M | $11.4M | ||
| Q4 24 | $168.4M | $64.2M | ||
| Q3 24 | $209.3M | $57.3M | ||
| Q2 24 | $215.8M | $50.2M | ||
| Q1 24 | $209.7M | $-36.2M |
自由现金流ARLPASIX
| Q4 25 | $99.1M | $36.1M | ||
| Q3 25 | $145.2M | $66.0K | ||
| Q2 25 | $84.7M | $-7.2M | ||
| Q1 25 | $58.9M | $-22.6M | ||
| Q4 24 | $75.3M | $29.8M | ||
| Q3 24 | $99.0M | $26.8M | ||
| Q2 24 | $114.3M | $16.7M | ||
| Q1 24 | $85.8M | $-71.6M |
自由现金流率ARLPASIX
| Q4 25 | 18.5% | 10.0% | ||
| Q3 25 | 25.4% | 0.0% | ||
| Q2 25 | 15.5% | -1.7% | ||
| Q1 25 | 10.9% | -6.0% | ||
| Q4 24 | 12.8% | 9.1% | ||
| Q3 24 | 16.1% | 6.7% | ||
| Q2 24 | 19.3% | 3.7% | ||
| Q1 24 | 13.2% | -21.3% |
资本支出强度ARLPASIX
| Q4 25 | 8.4% | 7.7% | ||
| Q3 25 | 11.3% | 7.1% | ||
| Q2 25 | 12.2% | 6.9% | ||
| Q1 25 | 16.1% | 9.0% | ||
| Q4 24 | 15.8% | 10.4% | ||
| Q3 24 | 18.0% | 7.7% | ||
| Q2 24 | 17.1% | 7.4% | ||
| Q1 24 | 19.0% | 10.5% |
现金转化率ARLPASIX
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | 0.67× | ||
| Q1 25 | 1.97× | 0.49× | ||
| Q4 24 | 10.31× | 182.29× | ||
| Q3 24 | 2.43× | 2.57× | ||
| Q2 24 | 2.15× | 1.29× | ||
| Q1 24 | 1.33× | — |
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
ARLP
| Illinois Basin Segment | $339.0M | 63% |
| Appalachia Segment | $141.4M | 26% |
| Other | $24.2M | 5% |
| Royalties Coal Segment | $22.4M | 4% |
| Shipping And Handling | $10.2M | 2% |
ASIX
| Plant Nutrients | $140.0M | 39% |
| Chemical Intermediates | $92.8M | 26% |
| Caprolactam | $64.4M | 18% |
| Nylon Resins | $62.8M | 17% |
