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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Fidelity National Financial, Inc.（FNF）财务数据对比。点击上方公司名可切换其他公司
Fidelity National Financial, Inc.的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.1倍（$544.0M vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -21.5%，领先23.6%），Fidelity National Financial, Inc.同比增速更快（10.3% vs -3.6%），过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% 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。
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
ARLP vs FNF — 直观对比
营收规模更大
FNF
是对方的1.1倍
$516.0M
营收增速更快
FNF
高出14.0%
-3.6%
净利率更高
ARLP
高出23.6%
-21.5%
两年增速更快
FNF
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $544.0M |
| 净利润 | $10.7M | $-117.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.2% | 82.9% |
| 净利率 | 2.1% | -21.5% |
| 营收同比 | -3.6% | 10.3% |
| 净利润同比 | — | -126.0% |
| 每股收益（稀释后） | — | $-0.44 |
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ARLPFNF
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $544.0M | ||
| Q3 25 | $571.4M | $553.0M | ||
| Q2 25 | $547.5M | $547.0M | ||
| Q1 25 | $540.5M | $455.0M | ||
| Q4 24 | $590.1M | $493.0M | ||
| Q3 24 | $613.6M | $506.0M | ||
| Q2 24 | $593.4M | $504.0M |
净利润ARLPFNF
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-117.0M | ||
| Q3 25 | $95.1M | $358.0M | ||
| Q2 25 | $59.4M | $278.0M | ||
| Q1 25 | $74.0M | $83.0M | ||
| Q4 24 | $16.3M | $450.0M | ||
| Q3 24 | $86.3M | $266.0M | ||
| Q2 24 | $100.2M | $306.0M |
营业利润率ARLPFNF
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 82.9% | ||
| Q3 25 | 18.4% | 81.9% | ||
| Q2 25 | 16.2% | 69.8% | ||
| Q1 25 | 17.4% | 24.4% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 16.5% | 61.9% | ||
| Q2 24 | 19.8% | 90.9% |
净利率ARLPFNF
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -21.5% | ||
| Q3 25 | 16.6% | 64.7% | ||
| Q2 25 | 10.9% | 50.8% | ||
| Q1 25 | 13.7% | 18.2% | ||
| Q4 24 | 2.8% | 91.3% | ||
| Q3 24 | 14.1% | 52.6% | ||
| Q2 24 | 16.9% | 60.7% |
每股收益（稀释后）ARLPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.44 | ||
| Q3 25 | — | $1.33 | ||
| Q2 25 | — | $1.02 | ||
| Q1 25 | — | $0.30 | ||
| Q4 24 | — | $1.65 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $1.12 |
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 | $2.6B |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | — | $7.4B |
| 总资产 | $2.9B | $109.0B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资ARLPFNF
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $2.6B | ||
| Q3 25 | $94.5M | $3.5B | ||
| Q2 25 | $55.0M | $3.3B | ||
| Q1 25 | $81.3M | $4.5B | ||
| Q4 24 | $137.0M | $3.5B | ||
| Q3 24 | $195.4M | $5.0B | ||
| Q2 24 | $203.7M | $4.9B |
总债务ARLPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B |
股东权益ARLPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | $7.4B | ||
| Q3 25 | — | $8.4B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $7.8B | ||
| Q3 24 | — | $8.1B | ||
| Q2 24 | — | $7.3B |
总资产ARLPFNF
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $109.0B | ||
| Q3 25 | $2.9B | $106.6B | ||
| Q2 25 | $2.9B | $102.3B | ||
| Q1 25 | $2.9B | $98.2B | ||
| Q4 24 | $2.9B | $95.4B | ||
| Q3 24 | $3.0B | $94.7B | ||
| Q2 24 | $3.1B | $88.8B |
负债/权益比ARLPFNF
| Q1 26 | — | — | ||
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.58× |
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 | — | $1.5B |
| 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 | — | — |
| 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ARLPFNF
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $1.5B | ||
| Q3 25 | $209.9M | $1.3B | ||
| Q2 25 | $151.7M | $1.9B | ||
| Q1 25 | $145.7M | $1.1B | ||
| Q4 24 | $168.4M | $1.5B | ||
| Q3 24 | $209.3M | $2.4B | ||
| Q2 24 | $215.8M | $1.4B |
自由现金流ARLPFNF
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | — | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | — | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | — |
自由现金流率ARLPFNF
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | — |
资本支出强度ARLPFNF
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | — |
现金转化率ARLPFNF
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | 3.66× | ||
| Q2 25 | 2.55× | 6.82× | ||
| Q1 25 | 1.97× | 13.43× | ||
| Q4 24 | 10.31× | 3.32× | ||
| Q3 24 | 2.43× | 8.89× | ||
| Q2 24 | 2.15× | 4.45× |
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% |
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
