vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与GE医疗（DHC）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GE医疗的1.4倍（$516.0M vs $379.6M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -5.6%，领先7.7%），GE医疗同比增速更快（-0.0% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-166.4M），过去两年GE医疗的营收复合增速更高（1.2% 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。
GE医疗是一家总部位于美国伊利诺伊州芝加哥市的医疗科技企业，业务涵盖四大板块：医疗影像设备，包括分子成像、CT、核磁共振、妇科健康筛查及X光系统；超声设备；患者护理解决方案，聚焦远程患者监测、麻醉呼吸护理、心脏诊断及婴幼儿护理；此外还涉及医药相关领域，是全球医疗行业的知名企业。
ARLP vs DHC — 直观对比
营收规模更大
ARLP
是对方的1.4倍
$379.6M
营收增速更快
DHC
高出3.6%
-3.6%
净利率更高
ARLP
高出7.7%
-5.6%
自由现金流更多
ARLP
多$179.7M
$-166.4M
两年增速更快
DHC
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $379.6M |
| 净利润 | $10.7M | $-21.2M |
| 毛利率 | — | — |
| 营业利润率 | 4.2% | -12.6% |
| 净利率 | 2.1% | -5.6% |
| 营收同比 | -3.6% | -0.0% |
| 净利润同比 | — | 75.7% |
| 每股收益（稀释后） | — | $-0.09 |
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ARLPDHC
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $379.6M | ||
| Q3 25 | $571.4M | $388.7M | ||
| Q2 25 | $547.5M | $382.7M | ||
| Q1 25 | $540.5M | $386.9M | ||
| Q4 24 | $590.1M | $379.6M | ||
| Q3 24 | $613.6M | $373.6M | ||
| Q2 24 | $593.4M | $371.4M |
净利润ARLPDHC
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-21.2M | ||
| Q3 25 | $95.1M | $-164.0M | ||
| Q2 25 | $59.4M | $-91.6M | ||
| Q1 25 | $74.0M | $-9.0M | ||
| Q4 24 | $16.3M | $-87.4M | ||
| Q3 24 | $86.3M | $-98.7M | ||
| Q2 24 | $100.2M | $-97.9M |
营业利润率ARLPDHC
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -12.6% | ||
| Q3 25 | 18.4% | -43.4% | ||
| Q2 25 | 16.2% | -24.5% | ||
| Q1 25 | 17.4% | -2.7% | ||
| Q4 24 | 2.6% | -26.1% | ||
| Q3 24 | 16.5% | -26.5% | ||
| Q2 24 | 19.8% | -23.0% |
净利率ARLPDHC
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -5.6% | ||
| Q3 25 | 16.6% | -42.2% | ||
| Q2 25 | 10.9% | -23.9% | ||
| Q1 25 | 13.7% | -2.3% | ||
| Q4 24 | 2.8% | -23.0% | ||
| Q3 24 | 14.1% | -26.4% | ||
| Q2 24 | 16.9% | -26.3% |
每股收益（稀释后）ARLPDHC
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.09 | ||
| Q3 25 | — | $-0.68 | ||
| Q2 25 | — | $-0.38 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.37 | ||
| Q3 24 | — | $-0.41 | ||
| Q2 24 | — | $-0.41 |
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 | $105.4M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | — | $1.7B |
| 总资产 | $2.9B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 1.47× |
8季度趋势，按日历期对齐
现金及短期投资ARLPDHC
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $105.4M | ||
| Q3 25 | $94.5M | $201.4M | ||
| Q2 25 | $55.0M | $141.8M | ||
| Q1 25 | $81.3M | $302.6M | ||
| Q4 24 | $137.0M | $144.6M | ||
| Q3 24 | $195.4M | $256.5M | ||
| Q2 24 | $203.7M | $265.6M |
总债务ARLPDHC
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARLPDHC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.1B |
总资产ARLPDHC
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $4.4B | ||
| Q3 25 | $2.9B | $4.7B | ||
| Q2 25 | $2.9B | $4.8B | ||
| Q1 25 | $2.9B | $5.0B | ||
| Q4 24 | $2.9B | $5.1B | ||
| Q3 24 | $3.0B | $5.3B | ||
| Q2 24 | $3.1B | $5.3B |
负债/权益比ARLPDHC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.47× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.56× | ||
| 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 | — | $-19.6M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $-166.4M |
| 自由现金流率自由现金流/营收 | 2.6% | -43.8% |
| 资本支出强度资本支出/营收 | 18.5% | 38.7% |
| 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 | $-280.3M |
8季度趋势，按日历期对齐
经营现金流ARLPDHC
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $-19.6M | ||
| Q3 25 | $209.9M | $-49.3M | ||
| Q2 25 | $151.7M | $53.0M | ||
| Q1 25 | $145.7M | $-3.2M | ||
| Q4 24 | $168.4M | $112.2M | ||
| Q3 24 | $209.3M | $21.1M | ||
| Q2 24 | $215.8M | $44.3M |
自由现金流ARLPDHC
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $-166.4M | ||
| Q3 25 | $145.2M | $-89.8M | ||
| Q2 25 | $84.7M | $18.8M | ||
| Q1 25 | $58.9M | $-42.9M | ||
| Q4 24 | $75.3M | $-89.5M | ||
| Q3 24 | $99.0M | $-26.1M | ||
| Q2 24 | $114.3M | $3.3M |
自由现金流率ARLPDHC
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | -43.8% | ||
| Q3 25 | 25.4% | -23.1% | ||
| Q2 25 | 15.5% | 4.9% | ||
| Q1 25 | 10.9% | -11.1% | ||
| Q4 24 | 12.8% | -23.6% | ||
| Q3 24 | 16.1% | -7.0% | ||
| Q2 24 | 19.3% | 0.9% |
资本支出强度ARLPDHC
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 38.7% | ||
| Q3 25 | 11.3% | 10.4% | ||
| Q2 25 | 12.2% | 8.9% | ||
| Q1 25 | 16.1% | 10.2% | ||
| Q4 24 | 15.8% | 53.1% | ||
| Q3 24 | 18.0% | 12.6% | ||
| Q2 24 | 17.1% | 11.0% |
现金转化率ARLPDHC
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | — | ||
| Q2 24 | 2.15× | — |
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% |
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
