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ALLIANCE RESOURCE PARTNERS LP（ARLP）与LANDS' END, INC.（LE）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LANDS' END, INC.的1.6倍（$516.0M vs $317.5M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs 1.6%，领先0.5%），LANDS' END, INC.同比增速更快（0.1% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-22.4M），过去两年LANDS' END, INC.的营收复合增速更高（-0.9% 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。
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
ARLP vs LE — 直观对比
营收规模更大
ARLP
是对方的1.6倍
$317.5M
营收增速更快
LE
高出3.7%
-3.6%
净利率更高
ARLP
高出0.5%
1.6%
自由现金流更多
ARLP
多$35.7M
$-22.4M
两年增速更快
LE
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $317.5M |
| 净利润 | $10.7M | $5.2M |
| 毛利率 | — | 51.8% |
| 营业利润率 | 4.2% | 5.3% |
| 净利率 | 2.1% | 1.6% |
| 营收同比 | -3.6% | 0.1% |
| 净利润同比 | — | 198.3% |
| 每股收益（稀释后） | — | $0.17 |
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ARLPLE
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $317.5M | ||
| Q3 25 | $571.4M | — | ||
| Q2 25 | $547.5M | $261.2M | ||
| Q1 25 | $540.5M | — | ||
| Q4 24 | $590.1M | $318.6M | ||
| Q3 24 | $613.6M | $317.2M | ||
| Q2 24 | $593.4M | $285.5M |
净利润ARLPLE
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $5.2M | ||
| Q3 25 | $95.1M | — | ||
| Q2 25 | $59.4M | $-8.3M | ||
| Q1 25 | $74.0M | — | ||
| Q4 24 | $16.3M | $-593.0K | ||
| Q3 24 | $86.3M | $-5.3M | ||
| Q2 24 | $100.2M | $-6.4M |
毛利率ARLPLE
| Q1 26 | — | — | ||
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 50.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 50.6% | ||
| Q3 24 | — | 47.9% | ||
| Q2 24 | — | 48.7% |
营业利润率ARLPLE
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 5.3% | ||
| Q3 25 | 18.4% | — | ||
| Q2 25 | 16.2% | -0.9% | ||
| Q1 25 | 17.4% | — | ||
| Q4 24 | 2.6% | 2.9% | ||
| Q3 24 | 16.5% | 0.8% | ||
| Q2 24 | 19.8% | 0.8% |
净利率ARLPLE
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 1.6% | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 10.9% | -3.2% | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 2.8% | -0.2% | ||
| Q3 24 | 14.1% | -1.7% | ||
| Q2 24 | 16.9% | -2.3% |
每股收益（稀释后）ARLPLE
| Q1 26 | — | — | ||
| Q4 25 | — | $0.17 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-0.27 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | — | $-0.17 | ||
| Q2 24 | — | $-0.20 |
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 | $36.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $231.0M |
| 总资产 | $2.9B | $852.7M |
| 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ARLPLE
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $36.3M | ||
| Q3 25 | $94.5M | — | ||
| Q2 25 | $55.0M | $18.1M | ||
| Q1 25 | $81.3M | — | ||
| Q4 24 | $137.0M | $30.4M | ||
| Q3 24 | $195.4M | $25.6M | ||
| Q2 24 | $203.7M | $27.4M |
股东权益ARLPLE
| Q1 26 | — | — | ||
| Q4 25 | — | $231.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $230.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $223.6M | ||
| Q3 24 | — | $226.5M | ||
| Q2 24 | — | $234.6M |
总资产ARLPLE
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $852.7M | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | $760.5M | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.9B | $843.6M | ||
| Q3 24 | $3.0B | $802.5M | ||
| Q2 24 | $3.1B | $800.1M |
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 | — | $-15.7M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $-22.4M |
| 自由现金流率自由现金流/营收 | 2.6% | -7.1% |
| 资本支出强度资本支出/营收 | 18.5% | 2.1% |
| 现金转化率经营现金流/净利润 | — | -3.03× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $-55.0M |
8季度趋势，按日历期对齐
经营现金流ARLPLE
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $-15.7M | ||
| Q3 25 | $209.9M | — | ||
| Q2 25 | $151.7M | $-22.5M | ||
| Q1 25 | $145.7M | — | ||
| Q4 24 | $168.4M | $-17.1M | ||
| Q3 24 | $209.3M | $30.7M | ||
| Q2 24 | $215.8M | $-25.8M |
自由现金流ARLPLE
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $-22.4M | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | $-30.7M | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | $-27.8M | ||
| Q3 24 | $99.0M | $26.0M | ||
| Q2 24 | $114.3M | $-32.6M |
自由现金流率ARLPLE
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | -7.1% | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | -11.8% | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | -8.7% | ||
| Q3 24 | 16.1% | 8.2% | ||
| Q2 24 | 19.3% | -11.4% |
资本支出强度ARLPLE
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 2.1% | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | 3.2% | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | 3.3% | ||
| Q3 24 | 18.0% | 1.5% | ||
| Q2 24 | 17.1% | 2.4% |
现金转化率ARLPLE
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | -3.03× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | — | ||
| 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% |
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
