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ALLIANCE RESOURCE PARTNERS LP（ARLP）与AeroVironment Inc（AVAV）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AeroVironment Inc的1.1倍（$516.0M vs $472.5M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -3.6%，领先5.7%），AeroVironment Inc同比增速更快（181.9% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-55.9M），过去两年AeroVironment Inc的营收复合增速更高（59.1% 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。
AeroVironment是1971年由人力飞机设计师保罗·麦克里迪创立的美国国防科技企业，总部位于弗吉尼亚州阿灵顿，专注于自主系统、反无人机系统及航天系统的研发制造，为美国国防部及多国军方供应渡鸦、弹簧刀、黄蜂、美洲狮等系列中小型无人机产品。
ARLP vs AVAV — 直观对比
营收规模更大
ARLP
是对方的1.1倍
$472.5M
营收增速更快
AVAV
高出185.5%
-3.6%
净利率更高
ARLP
高出5.7%
-3.6%
自由现金流更多
ARLP
多$69.2M
$-55.9M
两年增速更快
AVAV
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $472.5M |
| 净利润 | $10.7M | $-17.1M |
| 毛利率 | — | 22.0% |
| 营业利润率 | 4.2% | -6.4% |
| 净利率 | 2.1% | -3.6% |
| 营收同比 | -3.6% | 181.9% |
| 净利润同比 | — | -875.1% |
| 每股收益（稀释后） | — | $-0.34 |
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ARLPAVAV
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $472.5M | ||
| Q3 25 | $571.4M | $454.7M | ||
| Q2 25 | $547.5M | $275.1M | ||
| Q1 25 | $540.5M | $167.6M | ||
| Q4 24 | $590.1M | $188.5M | ||
| Q3 24 | $613.6M | $189.5M | ||
| Q2 24 | $593.4M | $197.0M |
净利润ARLPAVAV
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-17.1M | ||
| Q3 25 | $95.1M | $-67.4M | ||
| Q2 25 | $59.4M | $16.7M | ||
| Q1 25 | $74.0M | $-1.8M | ||
| Q4 24 | $16.3M | $7.5M | ||
| Q3 24 | $86.3M | $21.2M | ||
| Q2 24 | $100.2M | $6.0M |
毛利率ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | 36.5% | ||
| Q1 25 | — | 37.7% | ||
| Q4 24 | — | 39.1% | ||
| Q3 24 | — | 43.0% | ||
| Q2 24 | — | 38.4% |
营业利润率ARLPAVAV
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -6.4% | ||
| Q3 25 | 18.4% | -15.2% | ||
| Q2 25 | 16.2% | 5.0% | ||
| Q1 25 | 17.4% | -1.8% | ||
| Q4 24 | 2.6% | 3.7% | ||
| Q3 24 | 16.5% | 12.2% | ||
| Q2 24 | 19.8% | 3.0% |
净利率ARLPAVAV
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -3.6% | ||
| Q3 25 | 16.6% | -14.8% | ||
| Q2 25 | 10.9% | 6.1% | ||
| Q1 25 | 13.7% | -1.0% | ||
| Q4 24 | 2.8% | 4.0% | ||
| Q3 24 | 14.1% | 11.2% | ||
| Q2 24 | 16.9% | 3.1% |
每股收益（稀释后）ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.34 | ||
| Q3 25 | — | $-1.44 | ||
| Q2 25 | — | $0.59 | ||
| Q1 25 | — | $-0.06 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | — | $0.75 | ||
| Q2 24 | — | $0.18 |
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 | $588.5M |
| 总债务越低越好 | — | $747.5M |
| 股东权益账面价值 | — | $4.4B |
| 总资产 | $2.9B | $5.6B |
| 负债/权益比越低杠杆越低 | — | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资ARLPAVAV
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $588.5M | ||
| Q3 25 | $94.5M | $685.8M | ||
| Q2 25 | $55.0M | $40.9M | ||
| Q1 25 | $81.3M | $47.0M | ||
| Q4 24 | $137.0M | $69.0M | ||
| Q3 24 | $195.4M | $81.2M | ||
| Q2 24 | $203.7M | $73.3M |
总债务ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | — | $747.5M | ||
| Q3 25 | — | $747.5M | ||
| Q2 25 | — | $30.0M | ||
| Q1 25 | — | $25.0M | ||
| Q4 24 | — | $15.0M | ||
| Q3 24 | — | $17.5M | ||
| Q2 24 | — | $28.0M |
股东权益ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $886.5M | ||
| Q1 25 | — | $861.1M | ||
| Q4 24 | — | $858.4M | ||
| Q3 24 | — | $845.5M | ||
| Q2 24 | — | $822.7M |
总资产ARLPAVAV
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $5.6B | ||
| Q3 25 | $2.9B | $5.6B | ||
| Q2 25 | $2.9B | $1.1B | ||
| Q1 25 | $2.9B | $1.0B | ||
| Q4 24 | $2.9B | $1.0B | ||
| Q3 24 | $3.0B | $999.2M | ||
| Q2 24 | $3.1B | $1.0B |
负债/权益比ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
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 | — | $-45.1M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $-55.9M |
| 自由现金流率自由现金流/营收 | 2.6% | -11.8% |
| 资本支出强度资本支出/营收 | 18.5% | 2.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $342.2M | $-240.7M |
8季度趋势，按日历期对齐
经营现金流ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $-45.1M | ||
| Q3 25 | $209.9M | $-123.7M | ||
| Q2 25 | $151.7M | $-264.0K | ||
| Q1 25 | $145.7M | $-25.8M | ||
| Q4 24 | $168.4M | $-3.6M | ||
| Q3 24 | $209.3M | $28.4M | ||
| Q2 24 | $215.8M | $-11.7M |
自由现金流ARLPAVAV
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $-55.9M | ||
| Q3 25 | $145.2M | $-146.5M | ||
| Q2 25 | $84.7M | $-8.8M | ||
| Q1 25 | $58.9M | $-29.6M | ||
| Q4 24 | $75.3M | $-8.7M | ||
| Q3 24 | $99.0M | $22.9M | ||
| Q2 24 | $114.3M | $-20.8M |
自由现金流率ARLPAVAV
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | -11.8% | ||
| Q3 25 | 25.4% | -32.2% | ||
| Q2 25 | 15.5% | -3.2% | ||
| Q1 25 | 10.9% | -17.7% | ||
| Q4 24 | 12.8% | -4.6% | ||
| Q3 24 | 16.1% | 12.1% | ||
| Q2 24 | 19.3% | -10.5% |
资本支出强度ARLPAVAV
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 2.3% | ||
| Q3 25 | 11.3% | 5.0% | ||
| Q2 25 | 12.2% | 3.1% | ||
| Q1 25 | 16.1% | 2.3% | ||
| Q4 24 | 15.8% | 2.7% | ||
| Q3 24 | 18.0% | 2.9% | ||
| Q2 24 | 17.1% | 4.6% |
现金转化率ARLPAVAV
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | -0.02× | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | -0.48× | ||
| Q3 24 | 2.43× | 1.34× | ||
| Q2 24 | 2.15× | -1.93× |
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% |
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
