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ALLIANCE RESOURCE PARTNERS LP（ARLP）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
朗美通的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.3倍（$665.5M vs $516.0M），朗美通净利率更高（11.8% vs 2.1%，领先9.7%），朗美通同比增速更快（65.5% vs -3.6%），朗美通自由现金流更多（$43.1M vs $13.3M），过去两年朗美通的营收复合增速更高（34.8% 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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
ARLP vs LITE — 直观对比
营收规模更大
LITE
是对方的1.3倍
$516.0M
营收增速更快
LITE
高出69.1%
-3.6%
净利率更高
LITE
高出9.7%
2.1%
自由现金流更多
LITE
多$29.8M
$13.3M
两年增速更快
LITE
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $665.5M |
| 净利润 | $10.7M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 4.2% | 9.7% |
| 净利率 | 2.1% | 11.8% |
| 营收同比 | -3.6% | 65.5% |
| 净利润同比 | — | 228.4% |
| 每股收益（稀释后） | — | $0.89 |
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ARLPLITE
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $665.5M | ||
| Q3 25 | $571.4M | $533.8M | ||
| Q2 25 | $547.5M | $480.7M | ||
| Q1 25 | $540.5M | $425.2M | ||
| Q4 24 | $590.1M | $402.2M | ||
| Q3 24 | $613.6M | $336.9M | ||
| Q2 24 | $593.4M | $308.3M |
净利润ARLPLITE
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $78.2M | ||
| Q3 25 | $95.1M | $4.2M | ||
| Q2 25 | $59.4M | $213.3M | ||
| Q1 25 | $74.0M | $-44.1M | ||
| Q4 24 | $16.3M | $-60.9M | ||
| Q3 24 | $86.3M | $-82.4M | ||
| Q2 24 | $100.2M | $-252.5M |
毛利率ARLPLITE
| Q1 26 | — | — | ||
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 33.3% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 24.8% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 16.6% |
营业利润率ARLPLITE
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 9.7% | ||
| Q3 25 | 18.4% | 1.3% | ||
| Q2 25 | 16.2% | -1.7% | ||
| Q1 25 | 17.4% | -8.9% | ||
| Q4 24 | 2.6% | -12.8% | ||
| Q3 24 | 16.5% | -24.5% | ||
| Q2 24 | 19.8% | -43.3% |
净利率ARLPLITE
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 11.8% | ||
| Q3 25 | 16.6% | 0.8% | ||
| Q2 25 | 10.9% | 44.4% | ||
| Q1 25 | 13.7% | -10.4% | ||
| Q4 24 | 2.8% | -15.1% | ||
| Q3 24 | 14.1% | -24.5% | ||
| Q2 24 | 16.9% | -81.9% |
每股收益（稀释后）ARLPLITE
| Q1 26 | — | — | ||
| Q4 25 | — | $0.89 | ||
| Q3 25 | — | $0.05 | ||
| Q2 25 | — | $3.10 | ||
| Q1 25 | — | $-0.64 | ||
| Q4 24 | — | $-0.88 | ||
| Q3 24 | — | $-1.21 | ||
| Q2 24 | — | $-3.75 |
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 | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $846.6M |
| 总资产 | $2.9B | $4.8B |
| 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ARLPLITE
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $1.2B | ||
| Q3 25 | $94.5M | $1.1B | ||
| Q2 25 | $55.0M | $877.1M | ||
| Q1 25 | $81.3M | $866.7M | ||
| Q4 24 | $137.0M | $896.7M | ||
| Q3 24 | $195.4M | $916.1M | ||
| Q2 24 | $203.7M | $887.0M |
股东权益ARLPLITE
| Q1 26 | — | — | ||
| Q4 25 | — | $846.6M | ||
| Q3 25 | — | $780.8M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $879.5M | ||
| Q4 24 | — | $872.3M | ||
| Q3 24 | — | $895.9M | ||
| Q2 24 | — | $957.3M |
总资产ARLPLITE
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $4.8B | ||
| Q3 25 | $2.9B | $4.6B | ||
| Q2 25 | $2.9B | $4.2B | ||
| Q1 25 | $2.9B | $4.0B | ||
| Q4 24 | $2.9B | $4.0B | ||
| Q3 24 | $3.0B | $4.0B | ||
| Q2 24 | $3.1B | $3.9B |
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 | — | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $43.1M |
| 自由现金流率自由现金流/营收 | 2.6% | 6.5% |
| 资本支出强度资本支出/营收 | 18.5% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流ARLPLITE
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $126.7M | ||
| Q3 25 | $209.9M | $57.9M | ||
| Q2 25 | $151.7M | $64.0M | ||
| Q1 25 | $145.7M | $-1.6M | ||
| Q4 24 | $168.4M | $24.3M | ||
| Q3 24 | $209.3M | $39.6M | ||
| Q2 24 | $215.8M | $35.5M |
自由现金流ARLPLITE
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $43.1M | ||
| Q3 25 | $145.2M | $-18.3M | ||
| Q2 25 | $84.7M | $10.1M | ||
| Q1 25 | $58.9M | $-64.4M | ||
| Q4 24 | $75.3M | $-15.9M | ||
| Q3 24 | $99.0M | $-34.5M | ||
| Q2 24 | $114.3M | $10.9M |
自由现金流率ARLPLITE
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 6.5% | ||
| Q3 25 | 25.4% | -3.4% | ||
| Q2 25 | 15.5% | 2.1% | ||
| Q1 25 | 10.9% | -15.1% | ||
| Q4 24 | 12.8% | -4.0% | ||
| Q3 24 | 16.1% | -10.2% | ||
| Q2 24 | 19.3% | 3.5% |
资本支出强度ARLPLITE
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 12.6% | ||
| Q3 25 | 11.3% | 14.3% | ||
| Q2 25 | 12.2% | 11.2% | ||
| Q1 25 | 16.1% | 14.8% | ||
| Q4 24 | 15.8% | 10.0% | ||
| Q3 24 | 18.0% | 22.0% | ||
| Q2 24 | 17.1% | 8.0% |
现金转化率ARLPLITE
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 1.62× | ||
| Q3 25 | 2.21× | 13.79× | ||
| Q2 25 | 2.55× | 0.30× | ||
| 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% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
