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ALLIANCE RESOURCE PARTNERS LP（ARLP）与ICU MEDICAL INC（ICUI）财务数据对比。点击上方公司名可切换其他公司
ICU MEDICAL INC的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.0倍（$540.7M vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -2.9%，领先5.0%），ALLIANCE RESOURCE PARTNERS LP同比增速更快（-3.6% vs -14.1%），ICU MEDICAL INC自由现金流更多（$36.0M vs $13.3M），过去两年ICU MEDICAL INC的营收复合增速更高（-2.3% 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。
ICU医疗是总部位于美国加利福尼亚州圣克莱门特的医疗科技企业，专注于研发预防血流感染、保护医护人员免受传染病或危险药物侵害的医疗产品，产品线覆盖静脉治疗用品、输液泵、无针血管通路设备、定制输液套装、危险药物密闭处理系统、传感导管以及无针封闭式血液采样系统等。
ARLP vs ICUI — 直观对比
营收规模更大
ICUI
是对方的1.0倍
$516.0M
营收增速更快
ARLP
高出10.5%
-14.1%
净利率更高
ARLP
高出5.0%
-2.9%
自由现金流更多
ICUI
多$22.7M
$13.3M
两年增速更快
ICUI
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $540.7M |
| 净利润 | $10.7M | $-15.7M |
| 毛利率 | — | 37.5% |
| 营业利润率 | 4.2% | 1.0% |
| 净利率 | 2.1% | -2.9% |
| 营收同比 | -3.6% | -14.1% |
| 净利润同比 | — | 34.0% |
| 每股收益（稀释后） | — | $-0.63 |
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ARLPICUI
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $540.7M | ||
| Q3 25 | $571.4M | $537.0M | ||
| Q2 25 | $547.5M | $548.9M | ||
| Q1 25 | $540.5M | $604.7M | ||
| Q4 24 | $590.1M | $629.8M | ||
| Q3 24 | $613.6M | $589.1M | ||
| Q2 24 | $593.4M | $596.5M |
净利润ARLPICUI
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-15.7M | ||
| Q3 25 | $95.1M | $-3.4M | ||
| Q2 25 | $59.4M | $35.3M | ||
| Q1 25 | $74.0M | $-15.5M | ||
| Q4 24 | $16.3M | $-23.8M | ||
| Q3 24 | $86.3M | $-33.0M | ||
| Q2 24 | $100.2M | $-21.4M |
毛利率ARLPICUI
| Q1 26 | — | — | ||
| Q4 25 | — | 37.5% | ||
| Q3 25 | — | 37.4% | ||
| Q2 25 | — | 37.9% | ||
| Q1 25 | — | 34.7% | ||
| Q4 24 | — | 36.1% | ||
| Q3 24 | — | 34.8% | ||
| Q2 24 | — | 34.8% |
营业利润率ARLPICUI
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 1.0% | ||
| Q3 25 | 18.4% | 2.6% | ||
| Q2 25 | 16.2% | 1.9% | ||
| Q1 25 | 17.4% | 2.1% | ||
| Q4 24 | 2.6% | 6.0% | ||
| Q3 24 | 16.5% | 1.4% | ||
| Q2 24 | 19.8% | 1.3% |
净利率ARLPICUI
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -2.9% | ||
| Q3 25 | 16.6% | -0.6% | ||
| Q2 25 | 10.9% | 6.4% | ||
| Q1 25 | 13.7% | -2.6% | ||
| Q4 24 | 2.8% | -3.8% | ||
| Q3 24 | 14.1% | -5.6% | ||
| Q2 24 | 16.9% | -3.6% |
每股收益（稀释后）ARLPICUI
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.63 | ||
| Q3 25 | — | $-0.14 | ||
| Q2 25 | — | $1.43 | ||
| Q1 25 | — | $-0.63 | ||
| Q4 24 | — | $-0.97 | ||
| Q3 24 | — | $-1.35 | ||
| Q2 24 | — | $-0.88 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.1B |
| 总资产 | $2.9B | $4.1B |
| 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ARLPICUI
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | — | ||
| Q3 25 | $94.5M | — | ||
| Q2 25 | $55.0M | — | ||
| Q1 25 | $81.3M | — | ||
| Q4 24 | $137.0M | $308.6M | ||
| Q3 24 | $195.4M | $312.5M | ||
| Q2 24 | $203.7M | $302.6M |
股东权益ARLPICUI
| Q1 26 | — | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B |
总资产ARLPICUI
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $4.1B | ||
| Q3 25 | $2.9B | $4.1B | ||
| Q2 25 | $2.9B | $4.1B | ||
| Q1 25 | $2.9B | $4.2B | ||
| Q4 24 | $2.9B | $4.2B | ||
| Q3 24 | $3.0B | $4.3B | ||
| Q2 24 | $3.1B | $4.3B |
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 | — | $60.6M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $36.0M |
| 自由现金流率自由现金流/营收 | 2.6% | 6.6% |
| 资本支出强度资本支出/营收 | 18.5% | 4.6% |
| 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 | $91.8M |
8季度趋势，按日历期对齐
经营现金流ARLPICUI
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $60.6M | ||
| Q3 25 | $209.9M | $56.7M | ||
| Q2 25 | $151.7M | $11.2M | ||
| Q1 25 | $145.7M | $51.3M | ||
| Q4 24 | $168.4M | $40.2M | ||
| Q3 24 | $209.3M | $36.1M | ||
| Q2 24 | $215.8M | $82.0M |
自由现金流ARLPICUI
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $36.0M | ||
| Q3 25 | $145.2M | $27.6M | ||
| Q2 25 | $84.7M | $-8.5M | ||
| Q1 25 | $58.9M | $36.7M | ||
| Q4 24 | $75.3M | $16.1M | ||
| Q3 24 | $99.0M | $16.2M | ||
| Q2 24 | $114.3M | $62.5M |
自由现金流率ARLPICUI
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 6.6% | ||
| Q3 25 | 25.4% | 5.1% | ||
| Q2 25 | 15.5% | -1.5% | ||
| Q1 25 | 10.9% | 6.1% | ||
| Q4 24 | 12.8% | 2.6% | ||
| Q3 24 | 16.1% | 2.7% | ||
| Q2 24 | 19.3% | 10.5% |
资本支出强度ARLPICUI
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 4.6% | ||
| Q3 25 | 11.3% | 5.4% | ||
| Q2 25 | 12.2% | 3.6% | ||
| Q1 25 | 16.1% | 2.4% | ||
| Q4 24 | 15.8% | 3.8% | ||
| Q3 24 | 18.0% | 3.4% | ||
| Q2 24 | 17.1% | 3.3% |
现金转化率ARLPICUI
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | 0.32× | ||
| 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% |
ICUI
| Infusion Consumables | $284.7M | 53% |
| Infusion Systems | $176.3M | 33% |
| Vital Care | $79.7M | 15% |
