vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与EXACT SCIENCES CORP（EXAS）财务数据对比。点击上方公司名可切换其他公司
EXACT SCIENCES CORP的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.7倍（$878.4M vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -9.8%，领先11.9%），EXACT SCIENCES CORP同比增速更快（23.1% vs -3.6%），EXACT SCIENCES CORP自由现金流更多（$120.4M vs $13.3M），过去两年EXACT SCIENCES CORP的营收复合增速更高（17.4% 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。
Exact Sciences是总部位于美国威斯康星州麦迪逊的分子诊断企业，专注于早期癌症检测领域。公司核心产品覆盖结直肠癌筛查与预防场景，其中Cologuard是全球首个获批的结直肠癌粪便DNA检测产品，同时还提供其他多种癌症的筛查服务及精准肿瘤检测解决方案。
ARLP vs EXAS — 直观对比
营收规模更大
EXAS
是对方的1.7倍
$516.0M
营收增速更快
EXAS
高出26.8%
-3.6%
净利率更高
ARLP
高出11.9%
-9.8%
自由现金流更多
EXAS
多$107.2M
$13.3M
两年增速更快
EXAS
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $878.4M |
| 净利润 | $10.7M | $-86.0M |
| 毛利率 | — | 70.1% |
| 营业利润率 | 4.2% | -9.4% |
| 净利率 | 2.1% | -9.8% |
| 营收同比 | -3.6% | 23.1% |
| 净利润同比 | — | 90.1% |
| 每股收益（稀释后） | — | $-0.45 |
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ARLPEXAS
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $878.4M | ||
| Q3 25 | $571.4M | $850.7M | ||
| Q2 25 | $547.5M | $811.1M | ||
| Q1 25 | $540.5M | $706.8M | ||
| Q4 24 | $590.1M | $713.4M | ||
| Q3 24 | $613.6M | $708.7M | ||
| Q2 24 | $593.4M | $699.3M |
净利润ARLPEXAS
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-86.0M | ||
| Q3 25 | $95.1M | $-19.6M | ||
| Q2 25 | $59.4M | $-1.2M | ||
| Q1 25 | $74.0M | $-101.2M | ||
| Q4 24 | $16.3M | $-864.6M | ||
| Q3 24 | $86.3M | $-38.2M | ||
| Q2 24 | $100.2M | $-15.8M |
毛利率ARLPEXAS
| Q1 26 | — | — | ||
| Q4 25 | — | 70.1% | ||
| Q3 25 | — | 68.6% | ||
| Q2 25 | — | 69.3% | ||
| Q1 25 | — | 70.8% | ||
| Q4 24 | — | 69.0% | ||
| Q3 24 | — | 69.4% | ||
| Q2 24 | — | 69.8% |
营业利润率ARLPEXAS
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -9.4% | ||
| Q3 25 | 18.4% | -3.0% | ||
| Q2 25 | 16.2% | -0.3% | ||
| Q1 25 | 17.4% | -13.6% | ||
| Q4 24 | 2.6% | -122.8% | ||
| Q3 24 | 16.5% | -5.6% | ||
| Q2 24 | 19.8% | -3.8% |
净利率ARLPEXAS
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -9.8% | ||
| Q3 25 | 16.6% | -2.3% | ||
| Q2 25 | 10.9% | -0.1% | ||
| Q1 25 | 13.7% | -14.3% | ||
| Q4 24 | 2.8% | -121.2% | ||
| Q3 24 | 14.1% | -5.4% | ||
| Q2 24 | 16.9% | -2.3% |
每股收益（稀释后）ARLPEXAS
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.45 | ||
| Q3 25 | — | $-0.10 | ||
| Q2 25 | — | $-0.01 | ||
| Q1 25 | — | $-0.54 | ||
| Q4 24 | — | $-4.69 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | — | $-0.09 |
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 | $964.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.4B |
| 总资产 | $2.9B | $5.9B |
| 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ARLPEXAS
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $964.7M | ||
| Q3 25 | $94.5M | $1.0B | ||
| Q2 25 | $55.0M | $858.4M | ||
| Q1 25 | $81.3M | $786.2M | ||
| Q4 24 | $137.0M | $1.0B | ||
| Q3 24 | $195.4M | $1.0B | ||
| Q2 24 | $203.7M | $946.8M |
股东权益ARLPEXAS
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | — | $3.2B |
总资产ARLPEXAS
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $5.9B | ||
| Q3 25 | $2.9B | $5.9B | ||
| Q2 25 | $2.9B | $5.8B | ||
| Q1 25 | $2.9B | $5.7B | ||
| Q4 24 | $2.9B | $5.9B | ||
| Q3 24 | $3.0B | $6.7B | ||
| Q2 24 | $3.1B | $6.7B |
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 | — | $151.7M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $120.4M |
| 自由现金流率自由现金流/营收 | 2.6% | 13.7% |
| 资本支出强度资本支出/营收 | 18.5% | 3.6% |
| 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 | $356.8M |
8季度趋势，按日历期对齐
经营现金流ARLPEXAS
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $151.7M | ||
| Q3 25 | $209.9M | $219.9M | ||
| Q2 25 | $151.7M | $89.0M | ||
| Q1 25 | $145.7M | $30.8M | ||
| Q4 24 | $168.4M | $47.1M | ||
| Q3 24 | $209.3M | $138.7M | ||
| Q2 24 | $215.8M | $107.1M |
自由现金流ARLPEXAS
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $120.4M | ||
| Q3 25 | $145.2M | $190.0M | ||
| Q2 25 | $84.7M | $46.7M | ||
| Q1 25 | $58.9M | $-365.0K | ||
| Q4 24 | $75.3M | $10.7M | ||
| Q3 24 | $99.0M | $112.6M | ||
| Q2 24 | $114.3M | $71.2M |
自由现金流率ARLPEXAS
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 13.7% | ||
| Q3 25 | 25.4% | 22.3% | ||
| Q2 25 | 15.5% | 5.8% | ||
| Q1 25 | 10.9% | -0.1% | ||
| Q4 24 | 12.8% | 1.5% | ||
| Q3 24 | 16.1% | 15.9% | ||
| Q2 24 | 19.3% | 10.2% |
资本支出强度ARLPEXAS
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 3.6% | ||
| Q3 25 | 11.3% | 3.5% | ||
| Q2 25 | 12.2% | 5.2% | ||
| Q1 25 | 16.1% | 4.4% | ||
| Q4 24 | 15.8% | 5.1% | ||
| Q3 24 | 18.0% | 3.7% | ||
| Q2 24 | 17.1% | 5.1% |
现金转化率ARLPEXAS
| 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% |
EXAS
| Screening | $695.1M | 79% |
| Precision Oncology | $183.2M | 21% |
