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ALLIANCE RESOURCE PARTNERS LP（ARLP）与和黄医药（HCM）财务数据对比。点击上方公司名可切换其他公司
ALLIANCE RESOURCE PARTNERS LP的季度营收约是和黄医药的1.9倍（$516.0M vs $270.8M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs 0.7%，领先1.4%），ALLIANCE RESOURCE PARTNERS LP同比增速更快（-3.6% vs -16.5%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $3.4M）
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。
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
ARLP vs HCM — 直观对比
营收规模更大
ARLP
是对方的1.9倍
$270.8M
营收增速更快
ARLP
高出12.9%
-16.5%
净利率更高
ARLP
高出1.4%
0.7%
自由现金流更多
ARLP
多$9.9M
$3.4M
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $270.8M |
| 净利润 | $10.7M | $2.0M |
| 毛利率 | — | 37.7% |
| 营业利润率 | 4.2% | -13.2% |
| 净利率 | 2.1% | 0.7% |
| 营收同比 | -3.6% | -16.5% |
| 净利润同比 | — | -83.6% |
| 每股收益（稀释后） | — | $0.00 |
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ARLPHCM
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $270.8M | ||
| Q3 25 | $571.4M | — | ||
| Q2 25 | $547.5M | $277.7M | ||
| Q1 25 | $540.5M | $324.5M | ||
| Q4 24 | $590.1M | — | ||
| Q3 24 | $613.6M | — | ||
| Q2 24 | $593.4M | $305.7M |
净利润ARLPHCM
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $2.0M | ||
| Q3 25 | $95.1M | — | ||
| Q2 25 | $59.4M | $455.0M | ||
| Q1 25 | $74.0M | $11.9M | ||
| Q4 24 | $16.3M | — | ||
| Q3 24 | $86.3M | — | ||
| Q2 24 | $100.2M | $25.8M |
毛利率ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | — | 37.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 41.1% |
营业利润率ARLPHCM
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -13.2% | ||
| Q3 25 | 18.4% | — | ||
| Q2 25 | 16.2% | -1.3% | ||
| Q1 25 | 17.4% | -5.0% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 16.5% | — | ||
| Q2 24 | 19.8% | -9.0% |
净利率ARLPHCM
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 0.7% | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 10.9% | 163.8% | ||
| Q1 25 | 13.7% | 3.7% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 14.1% | — | ||
| Q2 24 | 16.9% | 8.4% |
每股收益（稀释后）ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | — | $0.00 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $0.52 | ||
| Q1 25 | — | $0.01 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $0.03 |
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 | $1.4B |
| 总债务越低越好 | — | $93.2M |
| 股东权益账面价值 | — | $1.2B |
| 总资产 | $2.9B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资ARLPHCM
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $1.4B | ||
| Q3 25 | $94.5M | — | ||
| Q2 25 | $55.0M | $1.4B | ||
| Q1 25 | $81.3M | $836.1M | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $195.4M | — | ||
| Q2 24 | $203.7M | $802.5M |
总债务ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | — | $93.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $93.4M | ||
| Q1 25 | — | $82.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $82.1M |
股东权益ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $759.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $740.1M |
总资产ARLPHCM
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.8B | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | $1.8B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.1B | $1.3B |
负债/权益比ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.11× |
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 | — | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $3.4M |
| 自由现金流率自由现金流/营收 | 2.6% | 1.2% |
| 资本支出强度资本支出/营收 | 18.5% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.21× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $-96.2M |
8季度趋势，按日历期对齐
经营现金流ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $8.2M | ||
| Q3 25 | $209.9M | — | ||
| Q2 25 | $151.7M | $-72.9M | ||
| Q1 25 | $145.7M | $40.3M | ||
| Q4 24 | $168.4M | — | ||
| Q3 24 | $209.3M | — | ||
| Q2 24 | $215.8M | $-39.8M |
自由现金流ARLPHCM
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $3.4M | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | $-82.2M | ||
| Q1 25 | $58.9M | $32.5M | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | $-49.9M |
自由现金流率ARLPHCM
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 1.2% | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | -29.6% | ||
| Q1 25 | 10.9% | 10.0% | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | -16.3% |
资本支出强度ARLPHCM
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 1.8% | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | 3.3% | ||
| Q1 25 | 16.1% | 2.4% | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | 3.3% |
现金转化率ARLPHCM
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 4.21× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | -0.16× | ||
| Q1 25 | 1.97× | 3.38× | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | — | ||
| Q2 24 | 2.15× | -1.54× |
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% |
HCM
暂无分部数据
