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ALLIANCE RESOURCE PARTNERS LP（ARLP）与PATHWARD FINANCIAL, INC.（CASH）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PATHWARD FINANCIAL, INC.的1.9倍（$516.0M vs $276.3M），PATHWARD FINANCIAL, INC.净利率更高（26.4% vs 2.1%，领先24.3%），过去两年PATHWARD FINANCIAL, INC.的营收复合增速更高（21.0% 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。
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
ARLP vs CASH — 直观对比
营收规模更大
ARLP
是对方的1.9倍
$276.3M
净利率更高
CASH
高出24.3%
2.1%
两年增速更快
CASH
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $276.3M |
| 净利润 | $10.7M | $72.9M |
| 毛利率 | — | — |
| 营业利润率 | 4.2% | — |
| 净利率 | 2.1% | 26.4% |
| 营收同比 | -3.6% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $3.35 |
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ARLPCASH
| Q1 26 | $516.0M | $276.3M | ||
| Q4 25 | $535.5M | $173.1M | ||
| Q3 25 | $571.4M | $186.7M | ||
| Q2 25 | $547.5M | $195.8M | ||
| Q1 25 | $540.5M | $274.8M | ||
| Q4 24 | $590.1M | $182.6M | ||
| Q3 24 | $613.6M | $179.5M | ||
| Q2 24 | $593.4M | $188.6M |
净利润ARLPCASH
| Q1 26 | $10.7M | $72.9M | ||
| Q4 25 | $82.7M | $35.2M | ||
| Q3 25 | $95.1M | $38.8M | ||
| Q2 25 | $59.4M | $42.1M | ||
| Q1 25 | $74.0M | $75.0M | ||
| Q4 24 | $16.3M | $30.0M | ||
| Q3 24 | $86.3M | $33.5M | ||
| Q2 24 | $100.2M | $44.9M |
营业利润率ARLPCASH
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 24.6% | ||
| Q3 25 | 18.4% | 25.9% | ||
| Q2 25 | 16.2% | 24.1% | ||
| Q1 25 | 17.4% | 33.2% | ||
| Q4 24 | 2.6% | 19.8% | ||
| Q3 24 | 16.5% | 20.9% | ||
| Q2 24 | 19.8% | 27.1% |
净利率ARLPCASH
| Q1 26 | 2.1% | 26.4% | ||
| Q4 25 | 15.4% | 20.3% | ||
| Q3 25 | 16.6% | 20.8% | ||
| Q2 25 | 10.9% | 21.5% | ||
| Q1 25 | 13.7% | 27.3% | ||
| Q4 24 | 2.8% | 16.4% | ||
| Q3 24 | 14.1% | 18.7% | ||
| Q2 24 | 16.9% | 23.8% |
每股收益（稀释后）ARLPCASH
| Q1 26 | — | $3.35 | ||
| Q4 25 | — | $1.57 | ||
| Q3 25 | — | $1.69 | ||
| Q2 25 | — | $1.81 | ||
| Q1 25 | — | $3.14 | ||
| Q4 24 | — | $1.23 | ||
| Q3 24 | — | $1.34 | ||
| Q2 24 | — | $1.78 |
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 | $157.6M |
| 总债务越低越好 | — | $59.5M |
| 股东权益账面价值 | — | $850.7M |
| 总资产 | $2.9B | $7.1B |
| 负债/权益比越低杠杆越低 | — | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资ARLPCASH
| Q1 26 | $28.9M | $157.6M | ||
| Q4 25 | $71.2M | $331.2M | ||
| Q3 25 | $94.5M | $120.6M | ||
| Q2 25 | $55.0M | $258.3M | ||
| Q1 25 | $81.3M | $254.2M | ||
| Q4 24 | $137.0M | $597.4M | ||
| Q3 24 | $195.4M | $158.3M | ||
| Q2 24 | $203.7M | $298.9M |
总债务ARLPCASH
| Q1 26 | — | $59.5M | ||
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M |
股东权益ARLPCASH
| Q1 26 | — | $850.7M | ||
| Q4 25 | — | $854.5M | ||
| Q3 25 | — | $858.0M | ||
| Q2 25 | — | $819.0M | ||
| Q1 25 | — | $814.7M | ||
| Q4 24 | — | $758.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $748.4M |
总资产ARLPCASH
| Q1 26 | $2.9B | $7.1B | ||
| Q4 25 | $2.9B | $7.6B | ||
| Q3 25 | $2.9B | $7.2B | ||
| Q2 25 | $2.9B | $7.2B | ||
| Q1 25 | $2.9B | $7.0B | ||
| Q4 24 | $2.9B | $7.6B | ||
| Q3 24 | $3.0B | $7.5B | ||
| Q2 24 | $3.1B | $7.5B |
负债/权益比ARLPCASH
| Q1 26 | — | 0.07× | ||
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $13.3M | — |
| 自由现金流率自由现金流/营收 | 2.6% | — |
| 资本支出强度资本支出/营收 | 18.5% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流ARLPCASH
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $108.3M | ||
| Q3 25 | $209.9M | $303.7M | ||
| Q2 25 | $151.7M | $30.4M | ||
| Q1 25 | $145.7M | $188.3M | ||
| Q4 24 | $168.4M | $-71.7M | ||
| Q3 24 | $209.3M | $143.1M | ||
| Q2 24 | $215.8M | $113.2M |
自由现金流ARLPCASH
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $104.1M | ||
| Q3 25 | $145.2M | $300.3M | ||
| Q2 25 | $84.7M | $27.7M | ||
| Q1 25 | $58.9M | $184.7M | ||
| Q4 24 | $75.3M | $-73.8M | ||
| Q3 24 | $99.0M | $138.8M | ||
| Q2 24 | $114.3M | $111.0M |
自由现金流率ARLPCASH
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 60.1% | ||
| Q3 25 | 25.4% | 160.9% | ||
| Q2 25 | 15.5% | 14.1% | ||
| Q1 25 | 10.9% | 67.2% | ||
| Q4 24 | 12.8% | -40.4% | ||
| Q3 24 | 16.1% | 77.3% | ||
| Q2 24 | 19.3% | 58.8% |
资本支出强度ARLPCASH
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 2.4% | ||
| Q3 25 | 11.3% | 1.8% | ||
| Q2 25 | 12.2% | 1.4% | ||
| Q1 25 | 16.1% | 1.3% | ||
| Q4 24 | 15.8% | 1.1% | ||
| Q3 24 | 18.0% | 2.4% | ||
| Q2 24 | 17.1% | 1.2% |
现金转化率ARLPCASH
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 3.08× | ||
| Q3 25 | 2.21× | 7.83× | ||
| Q2 25 | 2.55× | 0.72× | ||
| Q1 25 | 1.97× | 2.51× | ||
| Q4 24 | 10.31× | -2.39× | ||
| Q3 24 | 2.43× | 4.27× | ||
| Q2 24 | 2.15× | 2.52× |
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% |
CASH
| Noninterest Income | $151.2M | 55% |
| Net Interest Income | $125.1M | 45% |
