vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与B&G Foods, Inc.（BGS）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B&G Foods, Inc.的1.2倍（$516.0M vs $439.3M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -4.4%，领先6.4%），ALLIANCE RESOURCE PARTNERS LP同比增速更快（-3.6% vs -4.7%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-70.7M），过去两年ALLIANCE RESOURCE PARTNERS LP的营收复合增速更高（-6.7% vs -12.8%）
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。
B&G Foods是总部位于美国新泽西州帕西帕尼的品牌食品控股企业，创立于1996年，成立初衷是收购1889年诞生于曼哈顿的酸黄瓜、调味酱及调味品生产商Bloch & Guggenheimer，如今在北美食品领域拥有众多知名品牌。
ARLP vs BGS — 直观对比
营收规模更大
ARLP
是对方的1.2倍
$439.3M
营收增速更快
ARLP
高出1.1%
-4.7%
净利率更高
ARLP
高出6.4%
-4.4%
自由现金流更多
ARLP
多$84.0M
$-70.7M
两年增速更快
ARLP
近两年复合增速
-12.8%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $439.3M |
| 净利润 | $10.7M | $-19.1M |
| 毛利率 | — | 22.5% |
| 营业利润率 | 4.2% | 2.5% |
| 净利率 | 2.1% | -4.4% |
| 营收同比 | -3.6% | -4.7% |
| 净利润同比 | — | -356.5% |
| 每股收益（稀释后） | — | $-0.24 |
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ARLPBGS
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | — | ||
| Q3 25 | $571.4M | $439.3M | ||
| Q2 25 | $547.5M | $424.4M | ||
| Q1 25 | $540.5M | $425.4M | ||
| Q4 24 | $590.1M | $551.6M | ||
| Q3 24 | $613.6M | $461.1M | ||
| Q2 24 | $593.4M | $444.6M |
净利润ARLPBGS
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | — | ||
| Q3 25 | $95.1M | $-19.1M | ||
| Q2 25 | $59.4M | $-9.8M | ||
| Q1 25 | $74.0M | $835.0K | ||
| Q4 24 | $16.3M | $-222.4M | ||
| Q3 24 | $86.3M | $7.5M | ||
| Q2 24 | $100.2M | $3.9M |
毛利率ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 22.5% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | — | 22.2% | ||
| Q2 24 | — | 20.7% |
营业利润率ARLPBGS
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | — | ||
| Q3 25 | 18.4% | 2.5% | ||
| Q2 25 | 16.2% | 5.2% | ||
| Q1 25 | 17.4% | 8.4% | ||
| Q4 24 | 2.6% | -46.6% | ||
| Q3 24 | 16.5% | 11.1% | ||
| Q2 24 | 19.8% | 9.9% |
净利率ARLPBGS
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | — | ||
| Q3 25 | 16.6% | -4.4% | ||
| Q2 25 | 10.9% | -2.3% | ||
| Q1 25 | 13.7% | 0.2% | ||
| Q4 24 | 2.8% | -40.3% | ||
| Q3 24 | 14.1% | 1.6% | ||
| Q2 24 | 16.9% | 0.9% |
每股收益（稀释后）ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.24 | ||
| Q2 25 | — | $-0.12 | ||
| Q1 25 | — | $0.01 | ||
| Q4 24 | — | $-2.81 | ||
| Q3 24 | — | $0.09 | ||
| Q2 24 | — | $0.05 |
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 | $60.9M |
| 总债务越低越好 | — | $2.0B |
| 股东权益账面价值 | — | $470.7M |
| 总资产 | $2.9B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 4.30× |
8季度趋势，按日历期对齐
现金及短期投资ARLPBGS
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | — | ||
| Q3 25 | $94.5M | $60.9M | ||
| Q2 25 | $55.0M | $54.1M | ||
| Q1 25 | $81.3M | $61.2M | ||
| Q4 24 | $137.0M | $50.6M | ||
| Q3 24 | $195.4M | $54.7M | ||
| Q2 24 | $203.7M | $40.3M |
总债务ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B |
股东权益ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $470.7M | ||
| Q2 25 | — | $501.4M | ||
| Q1 25 | — | $513.1M | ||
| Q4 24 | — | $524.8M | ||
| Q3 24 | — | $755.3M | ||
| Q2 24 | — | $765.0M |
总资产ARLPBGS
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | $2.9B | ||
| Q2 25 | $2.9B | $2.9B | ||
| Q1 25 | $2.9B | $3.0B | ||
| Q4 24 | $2.9B | $3.0B | ||
| Q3 24 | $3.0B | $3.4B | ||
| Q2 24 | $3.1B | $3.4B |
负债/权益比ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.97× | ||
| Q1 25 | — | 3.91× | ||
| Q4 24 | — | 3.85× | ||
| Q3 24 | — | 2.75× | ||
| Q2 24 | — | 2.67× |
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 | — | $-64.6M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $-70.7M |
| 自由现金流率自由现金流/营收 | 2.6% | -16.1% |
| 资本支出强度资本支出/营收 | 18.5% | 1.4% |
| 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 | $54.8M |
8季度趋势，按日历期对齐
经营现金流ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | — | ||
| Q3 25 | $209.9M | $-64.6M | ||
| Q2 25 | $151.7M | $17.8M | ||
| Q1 25 | $145.7M | $52.7M | ||
| Q4 24 | $168.4M | $80.3M | ||
| Q3 24 | $209.3M | $4.2M | ||
| Q2 24 | $215.8M | $11.3M |
自由现金流ARLPBGS
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | — | ||
| Q3 25 | $145.2M | $-70.7M | ||
| Q2 25 | $84.7M | $11.5M | ||
| Q1 25 | $58.9M | $42.4M | ||
| Q4 24 | $75.3M | $71.7M | ||
| Q3 24 | $99.0M | $-679.0K | ||
| Q2 24 | $114.3M | $5.2M |
自由现金流率ARLPBGS
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 25.4% | -16.1% | ||
| Q2 25 | 15.5% | 2.7% | ||
| Q1 25 | 10.9% | 10.0% | ||
| Q4 24 | 12.8% | 13.0% | ||
| Q3 24 | 16.1% | -0.1% | ||
| Q2 24 | 19.3% | 1.2% |
资本支出强度ARLPBGS
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | — | ||
| Q3 25 | 11.3% | 1.4% | ||
| Q2 25 | 12.2% | 1.5% | ||
| Q1 25 | 16.1% | 2.4% | ||
| Q4 24 | 15.8% | 1.6% | ||
| Q3 24 | 18.0% | 1.0% | ||
| Q2 24 | 17.1% | 1.4% |
现金转化率ARLPBGS
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | 63.17× | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | 0.56× | ||
| Q2 24 | 2.15× | 2.87× |
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% |
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
