vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与J&J SNACK FOODS CORP（JJSF）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J&J SNACK FOODS CORP的1.5倍（$516.0M vs $343.8M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs 0.3%，领先1.8%），ALLIANCE RESOURCE PARTNERS LP同比增速更快（-3.6% vs -5.2%），J&J SNACK FOODS CORP自由现金流更多（$17.0M vs $13.3M），过去两年J&J SNACK FOODS CORP的营收复合增速更高（-2.2% 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。
强生休闲食品公司（J&J Snack Foods Corp.）是美国知名的品牌休闲食品与冷冻饮品生产商、营销商及分销商，总部位于新泽西州芒特劳雷尔，在全美44个州、墨西哥及加拿大设有超175个生产、仓储及配送设施，于纳斯达克全球精选市场上市，业务覆盖国内外市场。
ARLP vs JJSF — 直观对比
营收规模更大
ARLP
是对方的1.5倍
$343.8M
营收增速更快
ARLP
高出1.5%
-5.2%
净利率更高
ARLP
高出1.8%
0.3%
自由现金流更多
JJSF
多$3.7M
$13.3M
两年增速更快
JJSF
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $343.8M |
| 净利润 | $10.7M | $883.0K |
| 毛利率 | — | 27.9% |
| 营业利润率 | 4.2% | 0.2% |
| 净利率 | 2.1% | 0.3% |
| 营收同比 | -3.6% | -5.2% |
| 净利润同比 | — | -82.8% |
| 每股收益（稀释后） | — | $0.05 |
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ARLPJJSF
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $343.8M | ||
| Q3 25 | $571.4M | $410.2M | ||
| Q2 25 | $547.5M | $454.3M | ||
| Q1 25 | $540.5M | $356.1M | ||
| Q4 24 | $590.1M | $362.6M | ||
| Q3 24 | $613.6M | $426.8M | ||
| Q2 24 | $593.4M | $440.0M |
净利润ARLPJJSF
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $883.0K | ||
| Q3 25 | $95.1M | $11.4M | ||
| Q2 25 | $59.4M | $44.2M | ||
| Q1 25 | $74.0M | $4.8M | ||
| Q4 24 | $16.3M | $5.1M | ||
| Q3 24 | $86.3M | $29.6M | ||
| Q2 24 | $100.2M | $36.3M |
毛利率ARLPJJSF
| Q1 26 | — | — | ||
| Q4 25 | — | 27.9% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 33.0% | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | — | 31.8% | ||
| Q2 24 | — | 33.6% |
营业利润率ARLPJJSF
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 0.2% | ||
| Q3 25 | 18.4% | 2.8% | ||
| Q2 25 | 16.2% | 13.3% | ||
| Q1 25 | 17.4% | 1.7% | ||
| Q4 24 | 2.6% | 1.7% | ||
| Q3 24 | 16.5% | 9.3% | ||
| Q2 24 | 19.8% | 11.4% |
净利率ARLPJJSF
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 0.3% | ||
| Q3 25 | 16.6% | 2.8% | ||
| Q2 25 | 10.9% | 9.7% | ||
| Q1 25 | 13.7% | 1.4% | ||
| Q4 24 | 2.8% | 1.4% | ||
| Q3 24 | 14.1% | 6.9% | ||
| Q2 24 | 16.9% | 8.3% |
每股收益（稀释后）ARLPJJSF
| Q1 26 | — | — | ||
| Q4 25 | — | $0.05 | ||
| Q3 25 | — | $0.59 | ||
| Q2 25 | — | $2.26 | ||
| Q1 25 | — | $0.25 | ||
| Q4 24 | — | $0.26 | ||
| Q3 24 | — | $1.52 | ||
| Q2 24 | — | $1.87 |
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 | $66.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $912.9M |
| 总资产 | $2.9B | $1.3B |
| 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ARLPJJSF
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $66.8M | ||
| Q3 25 | $94.5M | $105.9M | ||
| Q2 25 | $55.0M | $77.4M | ||
| Q1 25 | $81.3M | $48.5M | ||
| Q4 24 | $137.0M | $73.6M | ||
| Q3 24 | $195.4M | $73.4M | ||
| Q2 24 | $203.7M | $64.0M |
股东权益ARLPJJSF
| Q1 26 | — | — | ||
| Q4 25 | — | $912.9M | ||
| Q3 25 | — | $966.7M | ||
| Q2 25 | — | $969.9M | ||
| Q1 25 | — | $935.0M | ||
| Q4 24 | — | $946.8M | ||
| Q3 24 | — | $957.0M | ||
| Q2 24 | — | $937.9M |
总资产ARLPJJSF
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.3B | ||
| Q3 25 | $2.9B | $1.4B | ||
| Q2 25 | $2.9B | $1.4B | ||
| Q1 25 | $2.9B | $1.4B | ||
| Q4 24 | $2.9B | $1.3B | ||
| Q3 24 | $3.0B | $1.4B | ||
| Q2 24 | $3.1B | $1.4B |
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 | — | $36.0M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $17.0M |
| 自由现金流率自由现金流/营收 | 2.6% | 4.9% |
| 资本支出强度资本支出/营收 | 18.5% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 40.73× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $83.1M |
8季度趋势，按日历期对齐
经营现金流ARLPJJSF
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $36.0M | ||
| Q3 25 | $209.9M | $66.4M | ||
| Q2 25 | $151.7M | $51.2M | ||
| Q1 25 | $145.7M | $12.3M | ||
| Q4 24 | $168.4M | $35.2M | ||
| Q3 24 | $209.3M | $46.3M | ||
| Q2 24 | $215.8M | $65.0M |
自由现金流ARLPJJSF
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $17.0M | ||
| Q3 25 | $145.2M | $44.8M | ||
| Q2 25 | $84.7M | $28.5M | ||
| Q1 25 | $58.9M | $-7.2M | ||
| Q4 24 | $75.3M | $16.1M | ||
| Q3 24 | $99.0M | $29.1M | ||
| Q2 24 | $114.3M | $45.3M |
自由现金流率ARLPJJSF
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 4.9% | ||
| Q3 25 | 25.4% | 10.9% | ||
| Q2 25 | 15.5% | 6.3% | ||
| Q1 25 | 10.9% | -2.0% | ||
| Q4 24 | 12.8% | 4.4% | ||
| Q3 24 | 16.1% | 6.8% | ||
| Q2 24 | 19.3% | 10.3% |
资本支出强度ARLPJJSF
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 5.5% | ||
| Q3 25 | 11.3% | 5.3% | ||
| Q2 25 | 12.2% | 5.0% | ||
| Q1 25 | 16.1% | 5.5% | ||
| Q4 24 | 15.8% | 5.3% | ||
| Q3 24 | 18.0% | 4.0% | ||
| Q2 24 | 17.1% | 4.5% |
现金转化率ARLPJJSF
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 40.73× | ||
| Q3 25 | 2.21× | 5.84× | ||
| Q2 25 | 2.55× | 1.16× | ||
| Q1 25 | 1.97× | 2.55× | ||
| Q4 24 | 10.31× | 6.84× | ||
| Q3 24 | 2.43× | 1.56× | ||
| Q2 24 | 2.15× | 1.79× |
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% |
JJSF
| Food Service | $219.2M | 64% |
| Frozen Beverages | $78.7M | 23% |
| Repair And Maintenance Service | $22.5M | 7% |
| Other | $12.7M | 4% |
| Machine Sales | $10.7M | 3% |
