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ALLIANCE RESOURCE PARTNERS LP（ARLP）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.7倍（$862.2M vs $516.0M），美泰净利率更高（7.1% vs 2.1%，领先5.0%），美泰同比增速更快（4.3% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-88.1M），过去两年ALLIANCE RESOURCE PARTNERS LP的营收复合增速更高（-6.7% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
ARLP vs MAT — 直观对比
营收规模更大
MAT
是对方的1.7倍
$516.0M
营收增速更快
MAT
高出7.9%
-3.6%
净利率更高
MAT
高出5.0%
2.1%
自由现金流更多
ARLP
多$101.4M
$-88.1M
两年增速更快
ARLP
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $862.2M |
| 净利润 | $10.7M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | 4.2% | — |
| 净利率 | 2.1% | 7.1% |
| 营收同比 | -3.6% | 4.3% |
| 净利润同比 | — | 251.4% |
| 每股收益（稀释后） | — | $0.20 |
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ARLPMAT
| Q1 26 | $516.0M | $862.2M | ||
| Q4 25 | $535.5M | $1.8B | ||
| Q3 25 | $571.4M | $1.7B | ||
| Q2 25 | $547.5M | $1.0B | ||
| Q1 25 | $540.5M | $826.6M | ||
| Q4 24 | $590.1M | $1.6B | ||
| Q3 24 | $613.6M | $1.8B | ||
| Q2 24 | $593.4M | $1.1B |
净利润ARLPMAT
| Q1 26 | $10.7M | $61.0M | ||
| Q4 25 | $82.7M | $106.2M | ||
| Q3 25 | $95.1M | $278.4M | ||
| Q2 25 | $59.4M | $53.4M | ||
| Q1 25 | $74.0M | $-40.3M | ||
| Q4 24 | $16.3M | $140.9M | ||
| Q3 24 | $86.3M | $372.4M | ||
| Q2 24 | $100.2M | $56.9M |
毛利率ARLPMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 50.9% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.7% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 49.2% |
营业利润率ARLPMAT
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 8.0% | ||
| Q3 25 | 18.4% | 21.9% | ||
| Q2 25 | 16.2% | 7.7% | ||
| Q1 25 | 17.4% | -6.4% | ||
| Q4 24 | 2.6% | 9.6% | ||
| Q3 24 | 16.5% | 26.5% | ||
| Q2 24 | 19.8% | 7.7% |
净利率ARLPMAT
| Q1 26 | 2.1% | 7.1% | ||
| Q4 25 | 15.4% | 6.0% | ||
| Q3 25 | 16.6% | 16.0% | ||
| Q2 25 | 10.9% | 5.2% | ||
| Q1 25 | 13.7% | -4.9% | ||
| Q4 24 | 2.8% | 8.6% | ||
| Q3 24 | 14.1% | 20.2% | ||
| Q2 24 | 16.9% | 5.3% |
每股收益（稀释后）ARLPMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | — | $0.32 | ||
| Q3 25 | — | $0.88 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $-0.12 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | — | $1.09 | ||
| Q2 24 | — | $0.17 |
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 | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | — | $2.1B |
| 总资产 | $2.9B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资ARLPMAT
| Q1 26 | $28.9M | $866.0M | ||
| Q4 25 | $71.2M | $1.2B | ||
| Q3 25 | $94.5M | $691.9M | ||
| Q2 25 | $55.0M | $870.5M | ||
| Q1 25 | $81.3M | $1.2B | ||
| Q4 24 | $137.0M | $1.4B | ||
| Q3 24 | $195.4M | $723.5M | ||
| Q2 24 | $203.7M | $722.4M |
总债务ARLPMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
股东权益ARLPMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.0B |
总资产ARLPMAT
| Q1 26 | $2.9B | $6.3B | ||
| Q4 25 | $2.9B | $6.6B | ||
| Q3 25 | $2.9B | $6.6B | ||
| Q2 25 | $2.9B | $6.2B | ||
| Q1 25 | $2.9B | $6.2B | ||
| Q4 24 | $2.9B | $6.5B | ||
| Q3 24 | $3.0B | $6.5B | ||
| Q2 24 | $3.1B | $5.9B |
负债/权益比ARLPMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $-88.1M |
| 自由现金流率自由现金流/营收 | 2.6% | -10.2% |
| 资本支出强度资本支出/营收 | 18.5% | 7.6% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流ARLPMAT
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $796.6M | ||
| Q3 25 | $209.9M | $72.0M | ||
| Q2 25 | $151.7M | $-300.1M | ||
| Q1 25 | $145.7M | $24.8M | ||
| Q4 24 | $168.4M | $862.1M | ||
| Q3 24 | $209.3M | $155.8M | ||
| Q2 24 | $215.8M | $-252.9M |
自由现金流ARLPMAT
| Q1 26 | $13.3M | $-88.1M | ||
| Q4 25 | $99.1M | — | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | — | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | — |
自由现金流率ARLPMAT
| Q1 26 | 2.6% | -10.2% | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | — |
资本支出强度ARLPMAT
| Q1 26 | 18.5% | 7.6% | ||
| Q4 25 | 8.4% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | — |
现金转化率ARLPMAT
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 7.50× | ||
| Q3 25 | 2.21× | 0.26× | ||
| Q2 25 | 2.55× | -5.62× | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | 6.12× | ||
| Q3 24 | 2.43× | 0.42× | ||
| Q2 24 | 2.15× | -4.45× |
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% |
MAT
暂无分部数据
