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ALLIANCE RESOURCE PARTNERS LP（ARLP）与PEABODY ENERGY CORP（BTU）财务数据对比。点击上方公司名可切换其他公司
PEABODY ENERGY CORP的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.9倍（$1.0B vs $535.5M）。ALLIANCE RESOURCE PARTNERS LP净利率更高（15.4% vs 1.2%，领先14.2%）。PEABODY ENERGY CORP同比增速更快（-9.0% vs -9.2%）。过去两年PEABODY ENERGY CORP的营收复合增速更高（1.9% 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。
皮博迪能源是总部位于美国密苏里州圣路易斯的煤炭开采企业，核心业务涵盖煤炭的开采、销售与配送，产品主要供应给发电和炼钢领域。公司还通过中国、澳大利亚及美国的办公网点开展煤炭的营销、经纪和贸易业务。
ARLP vs BTU — 直观对比
营收规模更大
BTU
是对方的1.9倍
$535.5M
营收增速更快
BTU
高出0.3%
-9.2%
净利率更高
ARLP
高出14.2%
1.2%
两年增速更快
BTU
近两年复合增速
-9.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $535.5M | $1.0B |
| 净利润 | $82.7M | $12.4M |
| 毛利率 | — | — |
| 营业利润率 | 18.2% | 0.8% |
| 净利率 | 15.4% | 1.2% |
| 营收同比 | -9.2% | -9.0% |
| 净利润同比 | 406.2% | -67.2% |
| 每股收益（稀释后） | — | $0.11 |
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ARLPBTU
| Q4 25 | $535.5M | $1.0B | ||
| Q3 25 | $571.4M | $1.0B | ||
| Q2 25 | $547.5M | $890.1M | ||
| Q1 25 | $540.5M | $937.0M | ||
| Q4 24 | $590.1M | $1.1B | ||
| Q3 24 | $613.6M | $1.1B | ||
| Q2 24 | $593.4M | $1.0B | ||
| Q1 24 | $651.7M | $983.6M |
净利润ARLPBTU
| Q4 25 | $82.7M | $12.4M | ||
| Q3 25 | $95.1M | $-70.1M | ||
| Q2 25 | $59.4M | $-27.6M | ||
| Q1 25 | $74.0M | $34.4M | ||
| Q4 24 | $16.3M | $37.8M | ||
| Q3 24 | $86.3M | $101.3M | ||
| Q2 24 | $100.2M | $199.4M | ||
| Q1 24 | $158.1M | $39.6M |
营业利润率ARLPBTU
| Q4 25 | 18.2% | 0.8% | ||
| Q3 25 | 18.4% | -8.0% | ||
| Q2 25 | 16.2% | -4.3% | ||
| Q1 25 | 17.4% | 3.4% | ||
| Q4 24 | 2.6% | 3.6% | ||
| Q3 24 | 16.5% | 11.0% | ||
| Q2 24 | 19.8% | 22.4% | ||
| Q1 24 | 24.6% | 5.2% |
净利率ARLPBTU
| Q4 25 | 15.4% | 1.2% | ||
| Q3 25 | 16.6% | -6.9% | ||
| Q2 25 | 10.9% | -3.1% | ||
| Q1 25 | 13.7% | 3.7% | ||
| Q4 24 | 2.8% | 3.4% | ||
| Q3 24 | 14.1% | 9.3% | ||
| Q2 24 | 16.9% | 19.1% | ||
| Q1 24 | 24.3% | 4.0% |
每股收益（稀释后）ARLPBTU
| Q4 25 | — | $0.11 | ||
| Q3 25 | — | $-0.58 | ||
| Q2 25 | — | $-0.23 | ||
| Q1 25 | — | $0.27 | ||
| Q4 24 | — | $0.25 | ||
| Q3 24 | — | $0.74 | ||
| Q2 24 | — | $1.42 | ||
| Q1 24 | — | $0.29 |
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 | $575.3M |
| 总债务越低越好 | — | $321.2M |
| 股东权益账面价值 | — | $3.5B |
| 总资产 | $2.9B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资ARLPBTU
| Q4 25 | $71.2M | $575.3M | ||
| Q3 25 | $94.5M | $603.3M | ||
| Q2 25 | $55.0M | $585.9M | ||
| Q1 25 | $81.3M | $696.5M | ||
| Q4 24 | $137.0M | $700.4M | ||
| Q3 24 | $195.4M | $772.9M | ||
| Q2 24 | $203.7M | $621.7M | ||
| Q1 24 | $134.0M | $855.7M |
总债务ARLPBTU
| Q4 25 | — | $321.2M | ||
| Q3 25 | — | $321.8M | ||
| Q2 25 | — | $329.2M | ||
| Q1 25 | — | $331.2M | ||
| Q4 24 | — | $332.3M | ||
| Q3 24 | — | $323.7M | ||
| Q2 24 | — | $323.2M | ||
| Q1 24 | — | $323.3M |
股东权益ARLPBTU
| Q4 25 | — | $3.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | — | $3.5B |
总资产ARLPBTU
| Q4 25 | $2.9B | $5.8B | ||
| Q3 25 | $2.9B | $5.7B | ||
| Q2 25 | $2.9B | $5.8B | ||
| Q1 25 | $2.9B | $5.8B | ||
| Q4 24 | $2.9B | $6.0B | ||
| Q3 24 | $3.0B | $5.9B | ||
| Q2 24 | $3.1B | $5.9B | ||
| Q1 24 | $3.0B | $5.7B |
负债/权益比ARLPBTU
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.09× | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | — | 0.09× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.09× | ||
| Q1 24 | — | 0.09× |
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 | $68.6M |
| 自由现金流经营现金流 - 资本支出 | $99.1M | — |
| 自由现金流率自由现金流/营收 | 18.5% | — |
| 资本支出强度资本支出/营收 | 8.4% | — |
| 现金转化率经营现金流/净利润 | 1.74× | 5.53× |
| 过去12个月自由现金流最近4个季度 | $387.9M | — |
8季度趋势，按日历期对齐
经营现金流ARLPBTU
| Q4 25 | $143.9M | $68.6M | ||
| Q3 25 | $209.9M | $122.0M | ||
| Q2 25 | $151.7M | $23.2M | ||
| Q1 25 | $145.7M | $119.9M | ||
| Q4 24 | $168.4M | $119.8M | ||
| Q3 24 | $209.3M | $359.9M | ||
| Q2 24 | $215.8M | $7.8M | ||
| Q1 24 | $209.7M | $119.0M |
自由现金流ARLPBTU
| Q4 25 | $99.1M | — | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | — | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | — | ||
| Q1 24 | $85.8M | — |
自由现金流率ARLPBTU
| Q4 25 | 18.5% | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | — | ||
| Q1 24 | 13.2% | — |
资本支出强度ARLPBTU
| Q4 25 | 8.4% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 19.0% | — |
现金转化率ARLPBTU
| Q4 25 | 1.74× | 5.53× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | 3.49× | ||
| Q4 24 | 10.31× | 3.17× | ||
| Q3 24 | 2.43× | 3.55× | ||
| Q2 24 | 2.15× | 0.04× | ||
| Q1 24 | 1.33× | 3.01× |
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% |
BTU
| Seaborne Metallurgical Mining | $305.4M | 30% |
| Powder River Basin Mining | $300.3M | 29% |
| Seaborne Thermal Mining | $205.6M | 20% |
| Other | $182.1M | 18% |
| Thermal Coal | $28.9M | 3% |
