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ALLIANCE RESOURCE PARTNERS LP（ARLP）与杜比实验室（DLB）财务数据对比。点击上方公司名可切换其他公司
ALLIANCE RESOURCE PARTNERS LP的季度营收约是杜比实验室的1.3倍（$516.0M vs $395.6M），杜比实验室净利率更高（24.0% vs 2.1%，领先21.9%），杜比实验室同比增速更快（7.1% vs -3.6%），过去两年杜比实验室的营收复合增速更高（13.9% 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。
杜比实验室是一家美国科技企业，专注于音频降噪、音频编码压缩、空间音频及高动态范围（HDR）影像等技术的研发，旗下技术广泛授权给全球各地的消费电子制造商使用，助力终端产品为用户带来更出色的视听体验。
ARLP vs DLB — 直观对比
营收规模更大
ARLP
是对方的1.3倍
$395.6M
营收增速更快
DLB
高出10.7%
-3.6%
净利率更高
DLB
高出21.9%
2.1%
两年增速更快
DLB
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $395.6M |
| 净利润 | $10.7M | $94.9M |
| 毛利率 | — | 88.7% |
| 营业利润率 | 4.2% | 28.5% |
| 净利率 | 2.1% | 24.0% |
| 营收同比 | -3.6% | 7.1% |
| 净利润同比 | — | 3.4% |
| 每股收益（稀释后） | — | $0.99 |
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ARLPDLB
| Q2 26 | — | $395.6M | ||
| Q1 26 | $516.0M | $346.7M | ||
| Q4 25 | $535.5M | $346.7M | ||
| Q3 25 | $571.4M | $307.0M | ||
| Q2 25 | $547.5M | $315.5M | ||
| Q1 25 | $540.5M | $369.6M | ||
| Q4 24 | $590.1M | $357.0M | ||
| Q3 24 | $613.6M | $304.8M |
净利润ARLPDLB
| Q2 26 | — | $94.9M | ||
| Q1 26 | $10.7M | $53.3M | ||
| Q4 25 | $82.7M | $53.3M | ||
| Q3 25 | $95.1M | $49.3M | ||
| Q2 25 | $59.4M | $46.1M | ||
| Q1 25 | $74.0M | $91.8M | ||
| Q4 24 | $16.3M | $67.8M | ||
| Q3 24 | $86.3M | $58.6M |
毛利率ARLPDLB
| Q2 26 | — | 88.7% | ||
| Q1 26 | — | 87.5% | ||
| Q4 25 | — | 87.5% | ||
| Q3 25 | — | 87.1% | ||
| Q2 25 | — | 86.1% | ||
| Q1 25 | — | 90.3% | ||
| Q4 24 | — | 88.6% | ||
| Q3 24 | — | 88.8% |
营业利润率ARLPDLB
| Q2 26 | — | 28.5% | ||
| Q1 26 | 4.2% | 17.9% | ||
| Q4 25 | 18.2% | 17.9% | ||
| Q3 25 | 18.4% | 9.7% | ||
| Q2 25 | 16.2% | 15.1% | ||
| Q1 25 | 17.4% | 29.2% | ||
| Q4 24 | 2.6% | 22.4% | ||
| Q3 24 | 16.5% | 15.2% |
净利率ARLPDLB
| Q2 26 | — | 24.0% | ||
| Q1 26 | 2.1% | 15.4% | ||
| Q4 25 | 15.4% | 15.4% | ||
| Q3 25 | 16.6% | 16.1% | ||
| Q2 25 | 10.9% | 14.6% | ||
| Q1 25 | 13.7% | 24.8% | ||
| Q4 24 | 2.8% | 19.0% | ||
| Q3 24 | 14.1% | 19.2% |
每股收益（稀释后）ARLPDLB
| Q2 26 | — | $0.99 | ||
| Q1 26 | — | $0.55 | ||
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.50 | ||
| Q2 25 | — | $0.48 | ||
| Q1 25 | — | $0.94 | ||
| Q4 24 | — | $0.70 | ||
| Q3 24 | — | $0.59 |
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 | $594.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.6B |
| 总资产 | $2.9B | $3.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARLPDLB
| Q2 26 | — | $594.7M | ||
| Q1 26 | $28.9M | $644.6M | ||
| Q4 25 | $71.2M | $644.6M | ||
| Q3 25 | $94.5M | $702.6M | ||
| Q2 25 | $55.0M | $699.3M | ||
| Q1 25 | $81.3M | $626.6M | ||
| Q4 24 | $137.0M | $520.8M | ||
| Q3 24 | $195.4M | $482.0M |
股东权益ARLPDLB
| Q2 26 | — | $2.6B | ||
| Q1 26 | — | $2.6B | ||
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B |
总资产ARLPDLB
| Q2 26 | — | $3.2B | ||
| Q1 26 | $2.9B | $3.2B | ||
| Q4 25 | $2.9B | $3.2B | ||
| Q3 25 | $2.9B | $3.2B | ||
| Q2 25 | $2.9B | $3.2B | ||
| Q1 25 | $2.9B | $3.2B | ||
| Q4 24 | $2.9B | $3.2B | ||
| Q3 24 | $3.0B | $3.1B |
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 | — | $147.3M |
| 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 | — | 1.55× |
| 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ARLPDLB
| Q2 26 | — | $147.3M | ||
| Q1 26 | — | $54.8M | ||
| Q4 25 | $143.9M | $54.8M | ||
| Q3 25 | $209.9M | $472.2M | ||
| Q2 25 | $151.7M | $67.7M | ||
| Q1 25 | $145.7M | $174.9M | ||
| Q4 24 | $168.4M | $106.8M | ||
| Q3 24 | $209.3M | $327.3M |
自由现金流ARLPDLB
| Q2 26 | — | — | ||
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $50.2M | ||
| Q3 25 | $145.2M | $435.9M | ||
| Q2 25 | $84.7M | $61.3M | ||
| Q1 25 | $58.9M | $168.0M | ||
| Q4 24 | $75.3M | $100.0M | ||
| Q3 24 | $99.0M | $297.2M |
自由现金流率ARLPDLB
| Q2 26 | — | — | ||
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 14.5% | ||
| Q3 25 | 25.4% | 142.0% | ||
| Q2 25 | 15.5% | 19.4% | ||
| Q1 25 | 10.9% | 45.5% | ||
| Q4 24 | 12.8% | 28.0% | ||
| Q3 24 | 16.1% | 97.5% |
资本支出强度ARLPDLB
| Q2 26 | — | — | ||
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 1.3% | ||
| Q3 25 | 11.3% | 11.8% | ||
| Q2 25 | 12.2% | 2.0% | ||
| Q1 25 | 16.1% | 1.9% | ||
| Q4 24 | 15.8% | 1.9% | ||
| Q3 24 | 18.0% | 9.8% |
现金转化率ARLPDLB
| Q2 26 | — | 1.55× | ||
| Q1 26 | — | 1.03× | ||
| Q4 25 | 1.74× | 1.03× | ||
| Q3 25 | 2.21× | 9.57× | ||
| Q2 25 | 2.55× | 1.47× | ||
| Q1 25 | 1.97× | 1.91× | ||
| Q4 24 | 10.31× | 1.57× | ||
| Q3 24 | 2.43× | 5.59× |
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% |
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
