vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与陶氏公司（DOW）财务数据对比。点击上方公司名可切换其他公司
陶氏公司的季度营收约是ALLIANCE RESOURCE PARTNERS LP的17.7倍（$9.5B vs $535.5M）。ALLIANCE RESOURCE PARTNERS LP同比增速更快（-9.2% vs -9.3%）。过去两年陶氏公司的营收复合增速更高（-6.9% 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。
陶氏化学是总部位于美国密歇根州米德兰的跨国化工企业，2021年位列全球前三大化工生产商，为特拉华州注册的上市控股公司陶氏公司旗下运营子公司，其产品与解决方案广泛服务于制造业、消费品、基础设施建设等全球多个核心产业领域。
ARLP vs DOW — 直观对比
营收规模更大
DOW
是对方的17.7倍
$535.5M
营收增速更快
ARLP
高出0.1%
-9.3%
两年增速更快
DOW
近两年复合增速
-9.4%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $535.5M | $9.5B |
| 净利润 | $82.7M | — |
| 毛利率 | — | 5.8% |
| 营业利润率 | 18.2% | — |
| 净利率 | 15.4% | — |
| 营收同比 | -9.2% | -9.3% |
| 净利润同比 | 406.2% | — |
| 每股收益（稀释后） | — | $-2.16 |
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ARLPDOW
| Q1 26 | — | $9.5B | ||
| Q4 25 | $535.5M | $9.5B | ||
| Q3 25 | $571.4M | $10.0B | ||
| Q2 25 | $547.5M | $10.1B | ||
| Q1 25 | $540.5M | $10.4B | ||
| Q4 24 | $590.1M | $10.4B | ||
| Q3 24 | $613.6M | $10.9B | ||
| Q2 24 | $593.4M | $10.9B |
净利润ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | $82.7M | $-1.5B | ||
| Q3 25 | $95.1M | $62.0M | ||
| Q2 25 | $59.4M | $-835.0M | ||
| Q1 25 | $74.0M | $-307.0M | ||
| Q4 24 | $16.3M | $-35.0M | ||
| Q3 24 | $86.3M | $214.0M | ||
| Q2 24 | $100.2M | $439.0M |
毛利率ARLPDOW
| Q1 26 | — | 5.8% | ||
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 7.3% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | 12.1% |
营业利润率ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | 18.2% | -16.4% | ||
| Q3 25 | 18.4% | 0.7% | ||
| Q2 25 | 16.2% | -6.5% | ||
| Q1 25 | 17.4% | -3.6% | ||
| Q4 24 | 2.6% | 2.1% | ||
| Q3 24 | 16.5% | 3.0% | ||
| Q2 24 | 19.8% | 5.6% |
净利率ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | 15.4% | -15.6% | ||
| Q3 25 | 16.6% | 0.6% | ||
| Q2 25 | 10.9% | -8.3% | ||
| Q1 25 | 13.7% | -2.9% | ||
| Q4 24 | 2.8% | -0.3% | ||
| Q3 24 | 14.1% | 2.0% | ||
| Q2 24 | 16.9% | 4.0% |
每股收益（稀释后）ARLPDOW
| Q1 26 | — | $-2.16 | ||
| Q4 25 | — | $-2.16 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | — | $-1.18 | ||
| Q1 25 | — | $-0.44 | ||
| Q4 24 | — | $-0.08 | ||
| Q3 24 | — | $0.30 | ||
| Q2 24 | — | $0.62 |
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 | $3.8B |
| 总债务越低越好 | — | $17.8B |
| 股东权益账面价值 | — | $16.0B |
| 总资产 | $2.9B | $58.5B |
| 负债/权益比越低杠杆越低 | — | 1.12× |
8季度趋势，按日历期对齐
现金及短期投资ARLPDOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $71.2M | $3.8B | ||
| Q3 25 | $94.5M | $4.6B | ||
| Q2 25 | $55.0M | $2.4B | ||
| Q1 25 | $81.3M | $1.5B | ||
| Q4 24 | $137.0M | $2.2B | ||
| Q3 24 | $195.4M | $2.9B | ||
| Q2 24 | $203.7M | $3.3B |
总债务ARLPDOW
| Q1 26 | — | $17.8B | ||
| Q4 25 | — | $17.8B | ||
| Q3 25 | — | $17.7B | ||
| Q2 25 | — | $16.2B | ||
| Q1 25 | — | $15.9B | ||
| Q4 24 | — | $15.7B | ||
| Q3 24 | — | $16.2B | ||
| Q2 24 | — | $16.0B |
股东权益ARLPDOW
| Q1 26 | — | $16.0B | ||
| Q4 25 | — | $16.0B | ||
| Q3 25 | — | $17.5B | ||
| Q2 25 | — | $17.2B | ||
| Q1 25 | — | $16.8B | ||
| Q4 24 | — | $17.4B | ||
| Q3 24 | — | $18.3B | ||
| Q2 24 | — | $18.3B |
总资产ARLPDOW
| Q1 26 | — | $58.5B | ||
| Q4 25 | $2.9B | $58.5B | ||
| Q3 25 | $2.9B | $61.0B | ||
| Q2 25 | $2.9B | $59.0B | ||
| Q1 25 | $2.9B | $57.5B | ||
| Q4 24 | $2.9B | $57.3B | ||
| Q3 24 | $3.0B | $59.4B | ||
| Q2 24 | $3.1B | $58.5B |
负债/权益比ARLPDOW
| Q1 26 | — | 1.12× | ||
| Q4 25 | — | 1.12× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.87× |
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 | — |
| 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× | — |
| 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ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $284.0M | ||
| Q3 25 | $209.9M | $1.1B | ||
| Q2 25 | $151.7M | $-470.0M | ||
| Q1 25 | $145.7M | $91.0M | ||
| Q4 24 | $168.4M | $814.0M | ||
| Q3 24 | $209.3M | $800.0M | ||
| Q2 24 | $215.8M | $836.0M |
自由现金流ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | $99.1M | $-284.0M | ||
| Q3 25 | $145.2M | $563.0M | ||
| Q2 25 | $84.7M | $-1.1B | ||
| Q1 25 | $58.9M | $-594.0M | ||
| Q4 24 | $75.3M | $47.0M | ||
| Q3 24 | $99.0M | $64.0M | ||
| Q2 24 | $114.3M | $113.0M |
自由现金流率ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | 18.5% | -3.0% | ||
| Q3 25 | 25.4% | 5.6% | ||
| Q2 25 | 15.5% | -11.2% | ||
| Q1 25 | 10.9% | -5.7% | ||
| Q4 24 | 12.8% | 0.5% | ||
| Q3 24 | 16.1% | 0.6% | ||
| Q2 24 | 19.3% | 1.0% |
资本支出强度ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | 8.4% | 6.0% | ||
| Q3 25 | 11.3% | 5.7% | ||
| Q2 25 | 12.2% | 6.6% | ||
| Q1 25 | 16.1% | 6.6% | ||
| Q4 24 | 15.8% | 7.4% | ||
| Q3 24 | 18.0% | 6.8% | ||
| Q2 24 | 17.1% | 6.6% |
现金转化率ARLPDOW
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | 18.18× | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | 3.74× | ||
| Q2 24 | 2.15× | 1.90× |
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% |
DOW
暂无分部数据
