vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与LOUISIANA-PACIFIC CORP（LPX）财务数据对比。点击上方公司名可切换其他公司
LOUISIANA-PACIFIC CORP的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.1倍（$566.0M vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -1.4%，领先3.5%），ALLIANCE RESOURCE PARTNERS LP同比增速更快（-3.6% vs -16.9%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-8.0M），过去两年ALLIANCE RESOURCE PARTNERS LP的营收复合增速更高（-6.7% vs -11.6%）
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。
路易斯安那-太平洋公司（简称LP）是美国知名建材制造商，成立于1973年，是美国定向结构刨花板（OSB）生产的开创者，总部现位于田纳西州纳什维尔。作为全球最大的OSB生产商，公司还生产工程木建材产品，通过建材分销商、经销商及家居零售中心向建筑商和业主供货。
ARLP vs LPX — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $566.0M |
| 净利润 | $10.7M | $-8.0M |
| 毛利率 | — | 15.0% |
| 营业利润率 | 4.2% | -1.6% |
| 净利率 | 2.1% | -1.4% |
| 营收同比 | -3.6% | -16.9% |
| 净利润同比 | — | -112.9% |
| 每股收益（稀释后） | — | $-0.12 |
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
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $566.0M | ||
| Q3 25 | $571.4M | $663.0M | ||
| Q2 25 | $547.5M | $755.0M | ||
| Q1 25 | $540.5M | $724.0M | ||
| Q4 24 | $590.1M | $681.0M | ||
| Q3 24 | $613.6M | $722.0M | ||
| Q2 24 | $593.4M | $814.0M |
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-8.0M | ||
| Q3 25 | $95.1M | $9.0M | ||
| Q2 25 | $59.4M | $54.0M | ||
| Q1 25 | $74.0M | $91.0M | ||
| Q4 24 | $16.3M | $62.0M | ||
| Q3 24 | $86.3M | $90.0M | ||
| Q2 24 | $100.2M | $160.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 19.5% | ||
| Q2 25 | — | 23.6% | ||
| Q1 25 | — | 27.2% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 32.3% |
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -1.6% | ||
| Q3 25 | 18.4% | 2.7% | ||
| Q2 25 | 16.2% | 10.6% | ||
| Q1 25 | 17.4% | 16.6% | ||
| Q4 24 | 2.6% | 11.0% | ||
| Q3 24 | 16.5% | 16.1% | ||
| Q2 24 | 19.8% | 23.8% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -1.4% | ||
| Q3 25 | 16.6% | 1.4% | ||
| Q2 25 | 10.9% | 7.2% | ||
| Q1 25 | 13.7% | 12.6% | ||
| Q4 24 | 2.8% | 9.1% | ||
| Q3 24 | 14.1% | 12.5% | ||
| Q2 24 | 16.9% | 19.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.12 | ||
| Q3 25 | — | $0.13 | ||
| Q2 25 | — | $0.77 | ||
| Q1 25 | — | $1.30 | ||
| Q4 24 | — | $0.90 | ||
| Q3 24 | — | $1.28 | ||
| Q2 24 | — | $2.23 |
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 | $292.0M |
| 总债务越低越好 | — | $348.0M |
| 股东权益账面价值 | — | $1.7B |
| 总资产 | $2.9B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.20× |
8季度趋势，按日历期对齐
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $292.0M | ||
| Q3 25 | $94.5M | $316.0M | ||
| Q2 25 | $55.0M | $333.0M | ||
| Q1 25 | $81.3M | $256.0M | ||
| Q4 24 | $137.0M | $340.0M | ||
| Q3 24 | $195.4M | $346.0M | ||
| Q2 24 | $203.7M | $317.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $348.0M | ||
| Q3 25 | — | $348.0M | ||
| Q2 25 | — | $348.0M | ||
| Q1 25 | — | $348.0M | ||
| Q4 24 | — | $348.0M | ||
| Q3 24 | — | $347.0M | ||
| Q2 24 | — | $347.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $2.6B | ||
| Q3 25 | $2.9B | $2.6B | ||
| Q2 25 | $2.9B | $2.7B | ||
| Q1 25 | $2.9B | $2.6B | ||
| Q4 24 | $2.9B | $2.6B | ||
| Q3 24 | $3.0B | $2.6B | ||
| Q2 24 | $3.1B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | 0.20× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.21× |
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 | — | $67.0M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $-8.0M |
| 自由现金流率自由现金流/营收 | 2.6% | -1.4% |
| 资本支出强度资本支出/营收 | 18.5% | 13.3% |
| 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 | $91.0M |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $67.0M | ||
| Q3 25 | $209.9M | $89.0M | ||
| Q2 25 | $151.7M | $162.0M | ||
| Q1 25 | $145.7M | $64.0M | ||
| Q4 24 | $168.4M | $105.0M | ||
| Q3 24 | $209.3M | $183.0M | ||
| Q2 24 | $215.8M | $212.0M |
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $-8.0M | ||
| Q3 25 | $145.2M | $5.0M | ||
| Q2 25 | $84.7M | $94.0M | ||
| Q1 25 | $58.9M | $0 | ||
| Q4 24 | $75.3M | $43.0M | ||
| Q3 24 | $99.0M | $139.0M | ||
| Q2 24 | $114.3M | $176.0M |
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | -1.4% | ||
| Q3 25 | 25.4% | 0.8% | ||
| Q2 25 | 15.5% | 12.5% | ||
| Q1 25 | 10.9% | 0.0% | ||
| Q4 24 | 12.8% | 6.3% | ||
| Q3 24 | 16.1% | 19.3% | ||
| Q2 24 | 19.3% | 21.6% |
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 13.3% | ||
| Q3 25 | 11.3% | 12.7% | ||
| Q2 25 | 12.2% | 9.0% | ||
| Q1 25 | 16.1% | 8.8% | ||
| Q4 24 | 15.8% | 9.1% | ||
| Q3 24 | 18.0% | 6.1% | ||
| Q2 24 | 17.1% | 4.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | 9.89× | ||
| Q2 25 | 2.55× | 3.00× | ||
| Q1 25 | 1.97× | 0.70× | ||
| Q4 24 | 10.31× | 1.69× | ||
| Q3 24 | 2.43× | 2.03× | ||
| Q2 24 | 2.15× | 1.32× |
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% |
LPX
| OS Bvalueadd | $472.0M | 83% |
| Other | $84.0M | 15% |
| Otherproducts | $10.0M | 2% |
