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ALLIANCE RESOURCE PARTNERS LP（ARLP）与艾利丹尼森（AVY）财务数据对比。点击上方公司名可切换其他公司
艾利丹尼森的季度营收约是ALLIANCE RESOURCE PARTNERS LP的4.2倍（$2.3B vs $535.5M）。ALLIANCE RESOURCE PARTNERS LP净利率更高（15.4% vs 7.3%，领先8.1%）。艾利丹尼森同比增速更快（3.9% vs -9.2%）。艾利丹尼森自由现金流更多（$309.7M vs $99.1M）。过去两年艾利丹尼森的营收复合增速更高（2.7% 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。
艾利丹尼森是总部位于美国俄亥俄州门托市的财富500强跨国企业，专业从事压敏胶材料、服装品牌标签吊牌、RFID嵌体及特种医疗产品的生产与分销，业务覆盖全球多个主要市场。
ARLP vs AVY — 直观对比
营收规模更大
AVY
是对方的4.2倍
$535.5M
营收增速更快
AVY
高出13.2%
-9.2%
净利率更高
ARLP
高出8.1%
7.3%
自由现金流更多
AVY
多$210.6M
$99.1M
两年增速更快
AVY
近两年复合增速
-9.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $535.5M | $2.3B |
| 净利润 | $82.7M | $166.4M |
| 毛利率 | — | 28.7% |
| 营业利润率 | 18.2% | 9.1% |
| 净利率 | 15.4% | 7.3% |
| 营收同比 | -9.2% | 3.9% |
| 净利润同比 | 406.2% | -4.4% |
| 每股收益（稀释后） | — | $2.16 |
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ARLPAVY
| Q4 25 | $535.5M | $2.3B | ||
| Q3 25 | $571.4M | $2.2B | ||
| Q2 25 | $547.5M | $2.2B | ||
| Q1 25 | $540.5M | $2.1B | ||
| Q4 24 | $590.1M | $2.2B | ||
| Q3 24 | $613.6M | $2.2B | ||
| Q2 24 | $593.4M | $2.2B | ||
| Q1 24 | $651.7M | $2.2B |
净利润ARLPAVY
| Q4 25 | $82.7M | $166.4M | ||
| Q3 25 | $95.1M | $166.3M | ||
| Q2 25 | $59.4M | $189.0M | ||
| Q1 25 | $74.0M | $166.3M | ||
| Q4 24 | $16.3M | $174.0M | ||
| Q3 24 | $86.3M | $181.7M | ||
| Q2 24 | $100.2M | $176.8M | ||
| Q1 24 | $158.1M | $172.4M |
毛利率ARLPAVY
| Q4 25 | — | 28.7% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 28.9% | ||
| Q4 24 | — | 27.9% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.6% | ||
| Q1 24 | — | 29.4% |
营业利润率ARLPAVY
| Q4 25 | 18.2% | 9.1% | ||
| Q3 25 | 18.4% | 10.6% | ||
| Q2 25 | 16.2% | 11.5% | ||
| Q1 25 | 17.4% | 10.6% | ||
| Q4 24 | 2.6% | 11.0% | ||
| Q3 24 | 16.5% | 11.0% | ||
| Q2 24 | 19.8% | 10.7% | ||
| Q1 24 | 24.6% | 10.9% |
净利率ARLPAVY
| Q4 25 | 15.4% | 7.3% | ||
| Q3 25 | 16.6% | 7.5% | ||
| Q2 25 | 10.9% | 8.5% | ||
| Q1 25 | 13.7% | 7.7% | ||
| Q4 24 | 2.8% | 8.0% | ||
| Q3 24 | 14.1% | 8.3% | ||
| Q2 24 | 16.9% | 7.9% | ||
| Q1 24 | 24.3% | 8.0% |
每股收益（稀释后）ARLPAVY
| Q4 25 | — | $2.16 | ||
| Q3 25 | — | $2.13 | ||
| Q2 25 | — | $2.41 | ||
| Q1 25 | — | $2.09 | ||
| Q4 24 | — | $2.17 | ||
| Q3 24 | — | $2.25 | ||
| Q2 24 | — | $2.18 | ||
| Q1 24 | — | $2.13 |
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 | $202.8M |
| 总债务越低越好 | — | $3.2B |
| 股东权益账面价值 | — | $2.2B |
| 总资产 | $2.9B | $8.8B |
| 负债/权益比越低杠杆越低 | — | 1.43× |
8季度趋势，按日历期对齐
现金及短期投资ARLPAVY
| Q4 25 | $71.2M | $202.8M | ||
| Q3 25 | $94.5M | $536.3M | ||
| Q2 25 | $55.0M | $215.9M | ||
| Q1 25 | $81.3M | $195.9M | ||
| Q4 24 | $137.0M | $329.1M | ||
| Q3 24 | $195.4M | $212.7M | ||
| Q2 24 | $203.7M | $208.8M | ||
| Q1 24 | $134.0M | $185.7M |
总债务ARLPAVY
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.1B |
股东权益ARLPAVY
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.2B |
总资产ARLPAVY
| Q4 25 | $2.9B | $8.8B | ||
| Q3 25 | $2.9B | $8.9B | ||
| Q2 25 | $2.9B | $8.6B | ||
| Q1 25 | $2.9B | $8.4B | ||
| Q4 24 | $2.9B | $8.4B | ||
| Q3 24 | $3.0B | $8.5B | ||
| Q2 24 | $3.1B | $8.3B | ||
| Q1 24 | $3.0B | $8.3B |
负债/权益比ARLPAVY
| Q4 25 | — | 1.43× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | — | 1.19× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | 0.85× | ||
| Q2 24 | — | 0.89× | ||
| Q1 24 | — | 0.94× |
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 | $376.8M |
| 自由现金流经营现金流 - 资本支出 | $99.1M | $309.7M |
| 自由现金流率自由现金流/营收 | 18.5% | 13.6% |
| 资本支出强度资本支出/营收 | 8.4% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.74× | 2.26× |
| 过去12个月自由现金流最近4个季度 | $387.9M | $712.4M |
8季度趋势，按日历期对齐
经营现金流ARLPAVY
| Q4 25 | $143.9M | $376.8M | ||
| Q3 25 | $209.9M | $312.1M | ||
| Q2 25 | $151.7M | $208.8M | ||
| Q1 25 | $145.7M | $-16.3M | ||
| Q4 24 | $168.4M | $351.2M | ||
| Q3 24 | $209.3M | $270.1M | ||
| Q2 24 | $215.8M | $197.7M | ||
| Q1 24 | $209.7M | $119.8M |
自由现金流ARLPAVY
| Q4 25 | $99.1M | $309.7M | ||
| Q3 25 | $145.2M | $276.2M | ||
| Q2 25 | $84.7M | $178.8M | ||
| Q1 25 | $58.9M | $-52.3M | ||
| Q4 24 | $75.3M | $281.7M | ||
| Q3 24 | $99.0M | $227.1M | ||
| Q2 24 | $114.3M | $150.2M | ||
| Q1 24 | $85.8M | $71.0M |
自由现金流率ARLPAVY
| Q4 25 | 18.5% | 13.6% | ||
| Q3 25 | 25.4% | 12.5% | ||
| Q2 25 | 15.5% | 8.1% | ||
| Q1 25 | 10.9% | -2.4% | ||
| Q4 24 | 12.8% | 12.9% | ||
| Q3 24 | 16.1% | 10.4% | ||
| Q2 24 | 19.3% | 6.7% | ||
| Q1 24 | 13.2% | 3.3% |
资本支出强度ARLPAVY
| Q4 25 | 8.4% | 3.0% | ||
| Q3 25 | 11.3% | 1.6% | ||
| Q2 25 | 12.2% | 1.4% | ||
| Q1 25 | 16.1% | 1.7% | ||
| Q4 24 | 15.8% | 3.2% | ||
| Q3 24 | 18.0% | 2.0% | ||
| Q2 24 | 17.1% | 2.1% | ||
| Q1 24 | 19.0% | 2.3% |
现金转化率ARLPAVY
| Q4 25 | 1.74× | 2.26× | ||
| Q3 25 | 2.21× | 1.88× | ||
| Q2 25 | 2.55× | 1.10× | ||
| Q1 25 | 1.97× | -0.10× | ||
| Q4 24 | 10.31× | 2.02× | ||
| Q3 24 | 2.43× | 1.49× | ||
| Q2 24 | 2.15× | 1.12× | ||
| Q1 24 | 1.33× | 0.69× |
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% |
AVY
| Other | $1.1B | 47% |
| Materials Group Segment | $475.0M | 21% |
| Apparel And Other | $460.8M | 20% |
| Identification Solutions And Vestcom | $263.4M | 12% |
