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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Axon Enterprise（AXON）财务数据对比。点击上方公司名可切换其他公司
Axon Enterprise的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.5倍（$796.7M vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs 0.3%，领先1.7%），Axon Enterprise同比增速更快（38.9% vs -3.6%），Axon Enterprise自由现金流更多（$155.4M vs $13.3M），过去两年Axon Enterprise的营收复合增速更高（31.5% 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。
Axon Enterprise是总部位于美国亚利桑那州斯科茨代尔的企业，面向军队、执法部门及民用市场开发各类武器装备与相关技术产品，业务覆盖公共安全、国防及民用消费等多个领域，为不同用户群体提供适配的产品解决方案。
ARLP vs AXON — 直观对比
营收规模更大
AXON
是对方的1.5倍
$516.0M
营收增速更快
AXON
高出42.6%
-3.6%
净利率更高
ARLP
高出1.7%
0.3%
自由现金流更多
AXON
多$142.1M
$13.3M
两年增速更快
AXON
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $796.7M |
| 净利润 | $10.7M | $2.7M |
| 毛利率 | — | 57.9% |
| 营业利润率 | 4.2% | -6.3% |
| 净利率 | 2.1% | 0.3% |
| 营收同比 | -3.6% | 38.9% |
| 净利润同比 | — | -98.0% |
| 每股收益（稀释后） | — | $0.02 |
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ARLPAXON
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $796.7M | ||
| Q3 25 | $571.4M | $710.6M | ||
| Q2 25 | $547.5M | $668.5M | ||
| Q1 25 | $540.5M | $603.6M | ||
| Q4 24 | $590.1M | $573.4M | ||
| Q3 24 | $613.6M | $544.3M | ||
| Q2 24 | $593.4M | $504.1M |
净利润ARLPAXON
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $2.7M | ||
| Q3 25 | $95.1M | $-2.2M | ||
| Q2 25 | $59.4M | $36.1M | ||
| Q1 25 | $74.0M | $88.0M | ||
| Q4 24 | $16.3M | $136.0M | ||
| Q3 24 | $86.3M | $67.0M | ||
| Q2 24 | $100.2M | $40.8M |
毛利率ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | — | 57.9% | ||
| Q3 25 | — | 60.1% | ||
| Q2 25 | — | 60.4% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 60.5% | ||
| Q3 24 | — | 60.8% | ||
| Q2 24 | — | 60.3% |
营业利润率ARLPAXON
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -6.3% | ||
| Q3 25 | 18.4% | -0.3% | ||
| Q2 25 | 16.2% | -0.2% | ||
| Q1 25 | 17.4% | -1.5% | ||
| Q4 24 | 2.6% | -2.6% | ||
| Q3 24 | 16.5% | 4.4% | ||
| Q2 24 | 19.8% | 6.5% |
净利率ARLPAXON
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 0.3% | ||
| Q3 25 | 16.6% | -0.3% | ||
| Q2 25 | 10.9% | 5.4% | ||
| Q1 25 | 13.7% | 14.6% | ||
| Q4 24 | 2.8% | 23.7% | ||
| Q3 24 | 14.1% | 12.3% | ||
| Q2 24 | 16.9% | 8.1% |
每股收益（稀释后）ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | — | $0.02 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $0.44 | ||
| Q1 25 | — | $1.08 | ||
| Q4 24 | — | $1.68 | ||
| Q3 24 | — | $0.86 | ||
| Q2 24 | — | $0.53 |
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 | $1.7B |
| 总债务越低越好 | — | $1.8B |
| 股东权益账面价值 | — | $3.2B |
| 总资产 | $2.9B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资ARLPAXON
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $1.7B | ||
| Q3 25 | $94.5M | $2.4B | ||
| Q2 25 | $55.0M | $2.1B | ||
| Q1 25 | $81.3M | $2.2B | ||
| Q4 24 | $137.0M | $788.1M | ||
| Q3 24 | $195.4M | $1.0B | ||
| Q2 24 | $203.7M | $968.9M |
总债务ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $680.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $1.9B |
总资产ARLPAXON
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $7.0B | ||
| Q3 25 | $2.9B | $6.7B | ||
| Q2 25 | $2.9B | $6.2B | ||
| Q1 25 | $2.9B | $6.1B | ||
| Q4 24 | $2.9B | $4.5B | ||
| Q3 24 | $3.0B | $4.0B | ||
| Q2 24 | $3.1B | $3.7B |
负债/权益比ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $217.2M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $155.4M |
| 自由现金流率自由现金流/营收 | 2.6% | 19.5% |
| 资本支出强度资本支出/营收 | 18.5% | 7.8% |
| 现金转化率经营现金流/净利润 | — | 79.14× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $75.1M |
8季度趋势，按日历期对齐
经营现金流ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $217.2M | ||
| Q3 25 | $209.9M | $60.0M | ||
| Q2 25 | $151.7M | $-91.7M | ||
| Q1 25 | $145.7M | $25.8M | ||
| Q4 24 | $168.4M | $250.2M | ||
| Q3 24 | $209.3M | $91.3M | ||
| Q2 24 | $215.8M | $82.8M |
自由现金流ARLPAXON
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $155.4M | ||
| Q3 25 | $145.2M | $33.4M | ||
| Q2 25 | $84.7M | $-114.7M | ||
| Q1 25 | $58.9M | $932.0K | ||
| Q4 24 | $75.3M | $225.4M | ||
| Q3 24 | $99.0M | $64.8M | ||
| Q2 24 | $114.3M | $71.4M |
自由现金流率ARLPAXON
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 19.5% | ||
| Q3 25 | 25.4% | 4.7% | ||
| Q2 25 | 15.5% | -17.2% | ||
| Q1 25 | 10.9% | 0.2% | ||
| Q4 24 | 12.8% | 39.3% | ||
| Q3 24 | 16.1% | 11.9% | ||
| Q2 24 | 19.3% | 14.2% |
资本支出强度ARLPAXON
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 7.8% | ||
| Q3 25 | 11.3% | 3.7% | ||
| Q2 25 | 12.2% | 3.4% | ||
| Q1 25 | 16.1% | 4.1% | ||
| Q4 24 | 15.8% | 4.3% | ||
| Q3 24 | 18.0% | 4.9% | ||
| Q2 24 | 17.1% | 2.2% |
现金转化率ARLPAXON
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 79.14× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | -2.54× | ||
| Q1 25 | 1.97× | 0.29× | ||
| Q4 24 | 10.31× | 1.84× | ||
| Q3 24 | 2.43× | 1.36× | ||
| Q2 24 | 2.15× | 2.03× |
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% |
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
