vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与ASTEC INDUSTRIES INC（ASTE）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ASTEC INDUSTRIES INC的1.3倍（$516.0M vs $400.6M），ASTEC INDUSTRIES INC净利率更高（3.0% vs 2.1%，领先0.9%），ASTEC INDUSTRIES INC同比增速更快（11.6% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $7.4M），过去两年ASTEC INDUSTRIES INC的营收复合增速更高（13.8% vs -6.7%）
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。
ASTEC是一家国际电子企业，原总部设于香港，主营电源供应装置与电力转换硬件产品，是全球计算机系统电源的主要供应商之一，曾一度是全球规模最大的电源生产商。
ARLP vs ASTE — 直观对比
营收规模更大
ARLP
是对方的1.3倍
$400.6M
营收增速更快
ASTE
高出15.2%
-3.6%
净利率更高
ASTE
高出0.9%
2.1%
自由现金流更多
ARLP
多$5.9M
$7.4M
两年增速更快
ASTE
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $400.6M |
| 净利润 | $10.7M | $12.0M |
| 毛利率 | — | 27.3% |
| 营业利润率 | 4.2% | 5.7% |
| 净利率 | 2.1% | 3.0% |
| 营收同比 | -3.6% | 11.6% |
| 净利润同比 | — | -43.1% |
| 每股收益（稀释后） | — | $0.52 |
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ARLPASTE
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $400.6M | ||
| Q3 25 | $571.4M | $350.1M | ||
| Q2 25 | $547.5M | $330.3M | ||
| Q1 25 | $540.5M | $329.4M | ||
| Q4 24 | $590.1M | $359.0M | ||
| Q3 24 | $613.6M | $291.4M | ||
| Q2 24 | $593.4M | $345.5M |
净利润ARLPASTE
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $12.0M | ||
| Q3 25 | $95.1M | $-4.2M | ||
| Q2 25 | $59.4M | $16.7M | ||
| Q1 25 | $74.0M | $14.3M | ||
| Q4 24 | $16.3M | $21.1M | ||
| Q3 24 | $86.3M | $-6.2M | ||
| Q2 24 | $100.2M | $-14.0M |
毛利率ARLPASTE
| Q1 26 | — | — | ||
| Q4 25 | — | 27.3% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 26.7% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 23.5% |
营业利润率ARLPASTE
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 5.7% | ||
| Q3 25 | 18.4% | 0.3% | ||
| Q2 25 | 16.2% | 6.5% | ||
| Q1 25 | 17.4% | 6.2% | ||
| Q4 24 | 2.6% | 9.7% | ||
| Q3 24 | 16.5% | -2.5% | ||
| Q2 24 | 19.8% | -3.1% |
净利率ARLPASTE
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 3.0% | ||
| Q3 25 | 16.6% | -1.2% | ||
| Q2 25 | 10.9% | 5.1% | ||
| Q1 25 | 13.7% | 4.3% | ||
| Q4 24 | 2.8% | 5.9% | ||
| Q3 24 | 14.1% | -2.1% | ||
| Q2 24 | 16.9% | -4.1% |
每股收益（稀释后）ARLPASTE
| Q1 26 | — | — | ||
| Q4 25 | — | $0.52 | ||
| Q3 25 | — | $-0.18 | ||
| Q2 25 | — | $0.72 | ||
| Q1 25 | — | $0.62 | ||
| Q4 24 | — | $0.92 | ||
| Q3 24 | — | $-0.27 | ||
| Q2 24 | — | $-0.61 |
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 | $74.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $681.7M |
| 总资产 | $2.9B | $1.4B |
| 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ARLPASTE
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $74.1M | ||
| Q3 25 | $94.5M | $71.8M | ||
| Q2 25 | $55.0M | $91.6M | ||
| Q1 25 | $81.3M | $95.4M | ||
| Q4 24 | $137.0M | $93.8M | ||
| Q3 24 | $195.4M | $58.9M | ||
| Q2 24 | $203.7M | $68.4M |
股东权益ARLPASTE
| Q1 26 | — | — | ||
| Q4 25 | — | $681.7M | ||
| Q3 25 | — | $668.9M | ||
| Q2 25 | — | $674.9M | ||
| Q1 25 | — | $653.2M | ||
| Q4 24 | — | $637.8M | ||
| Q3 24 | — | $631.4M | ||
| Q2 24 | — | $633.3M |
总资产ARLPASTE
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.4B | ||
| Q3 25 | $2.9B | $1.3B | ||
| Q2 25 | $2.9B | $1.1B | ||
| Q1 25 | $2.9B | $1.1B | ||
| Q4 24 | $2.9B | $1.0B | ||
| Q3 24 | $3.0B | $1.1B | ||
| Q2 24 | $3.1B | $1.1B |
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 | — | $36.1M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $7.4M |
| 自由现金流率自由现金流/营收 | 2.6% | 1.8% |
| 资本支出强度资本支出/营收 | 18.5% | 7.2% |
| 现金转化率经营现金流/净利润 | — | 3.01× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $20.7M |
8季度趋势，按日历期对齐
经营现金流ARLPASTE
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $36.1M | ||
| Q3 25 | $209.9M | $-8.1M | ||
| Q2 25 | $151.7M | $12.9M | ||
| Q1 25 | $145.7M | $20.5M | ||
| Q4 24 | $168.4M | $36.6M | ||
| Q3 24 | $209.3M | $22.5M | ||
| Q2 24 | $215.8M | $10.9M |
自由现金流ARLPASTE
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $7.4M | ||
| Q3 25 | $145.2M | $-12.3M | ||
| Q2 25 | $84.7M | $9.0M | ||
| Q1 25 | $58.9M | $16.6M | ||
| Q4 24 | $75.3M | $32.1M | ||
| Q3 24 | $99.0M | $19.9M | ||
| Q2 24 | $114.3M | $3.3M |
自由现金流率ARLPASTE
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 1.8% | ||
| Q3 25 | 25.4% | -3.5% | ||
| Q2 25 | 15.5% | 2.7% | ||
| Q1 25 | 10.9% | 5.0% | ||
| Q4 24 | 12.8% | 8.9% | ||
| Q3 24 | 16.1% | 6.8% | ||
| Q2 24 | 19.3% | 1.0% |
资本支出强度ARLPASTE
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 7.2% | ||
| Q3 25 | 11.3% | 1.2% | ||
| Q2 25 | 12.2% | 1.2% | ||
| Q1 25 | 16.1% | 1.2% | ||
| Q4 24 | 15.8% | 1.3% | ||
| Q3 24 | 18.0% | 0.9% | ||
| Q2 24 | 17.1% | 2.2% |
现金转化率ARLPASTE
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 3.01× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | 0.77× | ||
| Q1 25 | 1.97× | 1.43× | ||
| Q4 24 | 10.31× | 1.73× | ||
| 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
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% |
ASTE
| Infrastructure Group | $208.7M | 52% |
| Material Solutions | $105.3M | 26% |
| Parts And Component Sales | $58.3M | 15% |
| Other | $15.3M | 4% |
| Service And Equipment Installation Revenue | $6.9M | 2% |
| Cargo And Freight | $6.1M | 2% |
