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ALLIANCE RESOURCE PARTNERS LP（ARLP）与LCI INDUSTRIES（LCII）财务数据对比。点击上方公司名可切换其他公司
LCI INDUSTRIES的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.8倍（$932.7M vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs 2.0%，领先0.1%），LCI INDUSTRIES同比增速更快（16.1% vs -3.6%），LCI INDUSTRIES自由现金流更多（$64.3M vs $13.3M），过去两年LCI INDUSTRIES的营收复合增速更高（-1.8% 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。
拉奇核心工业有限公司前身为巴基斯坦帝国化学工业公司，是一家总部位于卡拉奇的巴基斯坦综合性企业集团，业务覆盖聚酯、医药、农用化学品、纯碱及兽药等多品类产品的研发生产，在巴基斯坦本土工业领域拥有重要市场地位。
ARLP vs LCII — 直观对比
营收规模更大
LCII
是对方的1.8倍
$516.0M
营收增速更快
LCII
高出19.8%
-3.6%
净利率更高
ARLP
高出0.1%
2.0%
自由现金流更多
LCII
多$51.0M
$13.3M
两年增速更快
LCII
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $932.7M |
| 净利润 | $10.7M | $18.7M |
| 毛利率 | — | 22.1% |
| 营业利润率 | 4.2% | 3.8% |
| 净利率 | 2.1% | 2.0% |
| 营收同比 | -3.6% | 16.1% |
| 净利润同比 | — | 95.7% |
| 每股收益（稀释后） | — | $0.79 |
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ARLPLCII
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $932.7M | ||
| Q3 25 | $571.4M | $1.0B | ||
| Q2 25 | $547.5M | $1.1B | ||
| Q1 25 | $540.5M | $1.0B | ||
| Q4 24 | $590.1M | $803.1M | ||
| Q3 24 | $613.6M | $915.5M | ||
| Q2 24 | $593.4M | $1.1B |
净利润ARLPLCII
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $18.7M | ||
| Q3 25 | $95.1M | $62.5M | ||
| Q2 25 | $59.4M | $57.6M | ||
| Q1 25 | $74.0M | $49.4M | ||
| Q4 24 | $16.3M | $9.5M | ||
| Q3 24 | $86.3M | $35.6M | ||
| Q2 24 | $100.2M | $61.2M |
毛利率ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | — | 22.1% | ||
| Q3 25 | — | 24.4% | ||
| Q2 25 | — | 24.4% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 25.3% |
营业利润率ARLPLCII
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 3.8% | ||
| Q3 25 | 18.4% | 7.3% | ||
| Q2 25 | 16.2% | 7.9% | ||
| Q1 25 | 17.4% | 7.8% | ||
| Q4 24 | 2.6% | 2.0% | ||
| Q3 24 | 16.5% | 5.9% | ||
| Q2 24 | 19.8% | 8.6% |
净利率ARLPLCII
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 2.0% | ||
| Q3 25 | 16.6% | 6.0% | ||
| Q2 25 | 10.9% | 5.2% | ||
| Q1 25 | 13.7% | 4.7% | ||
| Q4 24 | 2.8% | 1.2% | ||
| Q3 24 | 14.1% | 3.9% | ||
| Q2 24 | 16.9% | 5.8% |
每股收益（稀释后）ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | — | $0.79 | ||
| Q3 25 | — | $2.55 | ||
| Q2 25 | — | $2.29 | ||
| Q1 25 | — | $1.94 | ||
| Q4 24 | — | $0.37 | ||
| Q3 24 | — | $1.39 | ||
| Q2 24 | — | $2.40 |
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 | $222.6M |
| 总债务越低越好 | — | $945.2M |
| 股东权益账面价值 | — | $1.4B |
| 总资产 | $2.9B | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资ARLPLCII
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $222.6M | ||
| Q3 25 | $94.5M | $199.7M | ||
| Q2 25 | $55.0M | $191.9M | ||
| Q1 25 | $81.3M | $231.2M | ||
| Q4 24 | $137.0M | $165.8M | ||
| Q3 24 | $195.4M | $161.2M | ||
| Q2 24 | $203.7M | $130.4M |
总债务ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | — | $945.2M | ||
| Q3 25 | — | $947.8M | ||
| Q2 25 | — | $948.0M | ||
| Q1 25 | — | $938.3M | ||
| Q4 24 | — | $757.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $829.7M |
股东权益ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B |
总资产ARLPLCII
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $3.2B | ||
| Q3 25 | $2.9B | $3.2B | ||
| Q2 25 | $2.9B | $3.2B | ||
| Q1 25 | $2.9B | $3.1B | ||
| Q4 24 | $2.9B | $2.9B | ||
| Q3 24 | $3.0B | $3.0B | ||
| Q2 24 | $3.1B | $3.0B |
负债/权益比ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× |
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 | — | $78.9M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $64.3M |
| 自由现金流率自由现金流/营收 | 2.6% | 6.9% |
| 资本支出强度资本支出/营收 | 18.5% | 1.6% |
| 现金转化率经营现金流/净利润 | — | 4.22× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $278.3M |
8季度趋势，按日历期对齐
经营现金流ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $78.9M | ||
| Q3 25 | $209.9M | $97.2M | ||
| Q2 25 | $151.7M | $112.2M | ||
| Q1 25 | $145.7M | $42.7M | ||
| Q4 24 | $168.4M | $106.6M | ||
| Q3 24 | $209.3M | $78.4M | ||
| Q2 24 | $215.8M | $192.9M |
自由现金流ARLPLCII
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $64.3M | ||
| Q3 25 | $145.2M | $80.9M | ||
| Q2 25 | $84.7M | $99.5M | ||
| Q1 25 | $58.9M | $33.7M | ||
| Q4 24 | $75.3M | $95.7M | ||
| Q3 24 | $99.0M | $68.3M | ||
| Q2 24 | $114.3M | $180.2M |
自由现金流率ARLPLCII
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 6.9% | ||
| Q3 25 | 25.4% | 7.8% | ||
| Q2 25 | 15.5% | 9.0% | ||
| Q1 25 | 10.9% | 3.2% | ||
| Q4 24 | 12.8% | 11.9% | ||
| Q3 24 | 16.1% | 7.5% | ||
| Q2 24 | 19.3% | 17.1% |
资本支出强度ARLPLCII
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 1.6% | ||
| Q3 25 | 11.3% | 1.6% | ||
| Q2 25 | 12.2% | 1.2% | ||
| Q1 25 | 16.1% | 0.9% | ||
| Q4 24 | 15.8% | 1.4% | ||
| Q3 24 | 18.0% | 1.1% | ||
| Q2 24 | 17.1% | 1.2% |
现金转化率ARLPLCII
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 4.22× | ||
| Q3 25 | 2.21× | 1.55× | ||
| Q2 25 | 2.55× | 1.95× | ||
| Q1 25 | 1.97× | 0.86× | ||
| Q4 24 | 10.31× | 11.17× | ||
| Q3 24 | 2.43× | 2.20× | ||
| Q2 24 | 2.15× | 3.15× |
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% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
