vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与DOCUSIGN, INC.（DOCU）财务数据对比。点击上方公司名可切换其他公司
DOCUSIGN, INC.的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.6倍（$818.4M vs $516.0M），DOCUSIGN, INC.净利率更高（10.2% vs 2.1%，领先8.1%），DOCUSIGN, INC.同比增速更快（8.4% vs -3.6%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $13.3M）
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。
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
ARLP vs DOCU — 直观对比
营收规模更大
DOCU
是对方的1.6倍
$516.0M
营收增速更快
DOCU
高出12.1%
-3.6%
净利率更高
DOCU
高出8.1%
2.1%
自由现金流更多
DOCU
多$249.6M
$13.3M
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $818.4M |
| 净利润 | $10.7M | $83.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | 4.2% | 10.4% |
| 净利率 | 2.1% | 10.2% |
| 营收同比 | -3.6% | 8.4% |
| 净利润同比 | — | 34.1% |
| 每股收益（稀释后） | — | $0.40 |
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ARLPDOCU
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $818.4M | ||
| Q3 25 | $571.4M | $800.6M | ||
| Q2 25 | $547.5M | $763.7M | ||
| Q1 25 | $540.5M | — | ||
| Q4 24 | $590.1M | — | ||
| Q3 24 | $613.6M | — | ||
| Q2 24 | $593.4M | — |
净利润ARLPDOCU
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $83.7M | ||
| Q3 25 | $95.1M | $63.0M | ||
| Q2 25 | $59.4M | $72.1M | ||
| Q1 25 | $74.0M | — | ||
| Q4 24 | $16.3M | — | ||
| Q3 24 | $86.3M | — | ||
| Q2 24 | $100.2M | — |
毛利率ARLPDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | 79.2% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 79.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率ARLPDOCU
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 10.4% | ||
| Q3 25 | 18.4% | 8.1% | ||
| Q2 25 | 16.2% | 7.9% | ||
| Q1 25 | 17.4% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 16.5% | — | ||
| Q2 24 | 19.8% | — |
净利率ARLPDOCU
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 10.2% | ||
| Q3 25 | 16.6% | 7.9% | ||
| Q2 25 | 10.9% | 9.4% | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 14.1% | — | ||
| Q2 24 | 16.9% | — |
每股收益（稀释后）ARLPDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | $0.40 | ||
| Q3 25 | — | $0.30 | ||
| Q2 25 | — | $0.34 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.0B |
| 总资产 | $2.9B | $4.0B |
| 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ARLPDOCU
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $583.3M | ||
| Q3 25 | $94.5M | $600.0M | ||
| Q2 25 | $55.0M | $657.4M | ||
| Q1 25 | $81.3M | — | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $195.4M | — | ||
| Q2 24 | $203.7M | — |
股东权益ARLPDOCU
| Q1 26 | — | — | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总资产ARLPDOCU
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $4.0B | ||
| Q3 25 | $2.9B | $3.9B | ||
| Q2 25 | $2.9B | $3.9B | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $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 | — | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $262.9M |
| 自由现金流率自由现金流/营收 | 2.6% | 32.1% |
| 资本支出强度资本支出/营收 | 18.5% | 3.3% |
| 现金转化率经营现金流/净利润 | — | 3.47× |
| 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ARLPDOCU
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $290.3M | ||
| Q3 25 | $209.9M | $246.1M | ||
| Q2 25 | $151.7M | $251.4M | ||
| Q1 25 | $145.7M | — | ||
| Q4 24 | $168.4M | — | ||
| Q3 24 | $209.3M | — | ||
| Q2 24 | $215.8M | — |
自由现金流ARLPDOCU
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $262.9M | ||
| Q3 25 | $145.2M | $217.6M | ||
| Q2 25 | $84.7M | $227.8M | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | — |
自由现金流率ARLPDOCU
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 32.1% | ||
| Q3 25 | 25.4% | 27.2% | ||
| Q2 25 | 15.5% | 29.8% | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | — |
资本支出强度ARLPDOCU
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 3.3% | ||
| Q3 25 | 11.3% | 3.6% | ||
| Q2 25 | 12.2% | 3.1% | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | — |
现金转化率ARLPDOCU
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 3.47× | ||
| Q3 25 | 2.21× | 3.91× | ||
| Q2 25 | 2.55× | 3.49× | ||
| 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% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
