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ALLIANCE RESOURCE PARTNERS LP（ARLP）与MACOM Technology Solutions Holdings, Inc.（MTSI）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MACOM Technology Solutions Holdings, Inc.的1.9倍（$516.0M vs $271.6M），MACOM Technology Solutions Holdings, Inc.净利率更高（18.0% vs 2.1%，领先15.9%），MACOM Technology Solutions Holdings, Inc.同比增速更快（24.5% vs -3.6%），MACOM Technology Solutions Holdings, Inc.自由现金流更多（$30.0M vs $13.3M），过去两年MACOM Technology Solutions Holdings, Inc.的营收复合增速更高（22.4% 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。
MACOM是美国知名的射频、微波及毫米波半导体器件与组件研发生产商，总部位于马萨诸塞州洛厄尔，2005年曾是当地规模最大的私营雇主。公司已通过ISO9001国际质量体系认证及ISO14001环境管理体系认证，在北美、欧洲、亚洲及澳大利亚均设有设计中心与销售办事处。
ARLP vs MTSI — 直观对比
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $271.6M |
| 净利润 | $10.7M | $48.8M |
| 毛利率 | — | 55.9% |
| 营业利润率 | 4.2% | 15.9% |
| 净利率 | 2.1% | 18.0% |
| 营收同比 | -3.6% | 24.5% |
| 净利润同比 | — | 129.1% |
| 每股收益（稀释后） | — | $0.64 |
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 | $271.6M | ||
| Q4 25 | $535.5M | $261.2M | ||
| Q3 25 | $571.4M | $252.1M | ||
| Q2 25 | $547.5M | $235.9M | ||
| Q1 25 | $540.5M | $218.1M | ||
| Q4 24 | $590.1M | — | ||
| Q3 24 | $613.6M | $200.7M | ||
| Q2 24 | $593.4M | $190.5M |
| Q1 26 | $10.7M | $48.8M | ||
| Q4 25 | $82.7M | $45.1M | ||
| Q3 25 | $95.1M | $36.5M | ||
| Q2 25 | $59.4M | $31.7M | ||
| Q1 25 | $74.0M | $-167.5M | ||
| Q4 24 | $16.3M | — | ||
| Q3 24 | $86.3M | $29.4M | ||
| Q2 24 | $100.2M | $19.9M |
| Q1 26 | — | 55.9% | ||
| Q4 25 | — | 54.5% | ||
| Q3 25 | — | 55.3% | ||
| Q2 25 | — | 55.2% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 54.7% | ||
| Q2 24 | — | 53.2% |
| Q1 26 | 4.2% | 15.9% | ||
| Q4 25 | 18.2% | 15.2% | ||
| Q3 25 | 18.4% | 14.9% | ||
| Q2 25 | 16.2% | 14.8% | ||
| Q1 25 | 17.4% | 8.0% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 16.5% | 13.7% | ||
| Q2 24 | 19.8% | 10.4% |
| Q1 26 | 2.1% | 18.0% | ||
| Q4 25 | 15.4% | 17.3% | ||
| Q3 25 | 16.6% | 14.5% | ||
| Q2 25 | 10.9% | 13.4% | ||
| Q1 25 | 13.7% | -76.8% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 14.1% | 14.7% | ||
| Q2 24 | 16.9% | 10.5% |
| Q1 26 | — | $0.64 | ||
| Q4 25 | — | $0.67 | ||
| Q3 25 | — | $0.48 | ||
| Q2 25 | — | $0.42 | ||
| Q1 25 | — | $-2.30 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0.40 | ||
| Q2 24 | — | $0.27 |
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 | $768.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.4B |
| 总资产 | $2.9B | $2.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q1 26 | $28.9M | $768.5M | ||
| Q4 25 | $71.2M | $786.0M | ||
| Q3 25 | $94.5M | $735.2M | ||
| Q2 25 | $55.0M | $681.5M | ||
| Q1 25 | $81.3M | $656.5M | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $195.4M | $581.9M | ||
| Q2 24 | $203.7M | $521.5M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | $2.9B | $2.1B | ||
| Q4 25 | $2.9B | $2.1B | ||
| Q3 25 | $2.9B | $2.0B | ||
| Q2 25 | $2.9B | $1.9B | ||
| Q1 25 | $2.9B | $1.8B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.0B | $1.8B | ||
| Q2 24 | $3.1B | $1.7B |
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 | — | $42.9M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $30.0M |
| 自由现金流率自由现金流/营收 | 2.6% | 11.0% |
| 资本支出强度资本支出/营收 | 18.5% | 4.8% |
| 现金转化率经营现金流/净利润 | — | 0.88× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $161.5M |
8季度趋势，按日历期对齐
| Q1 26 | — | $42.9M | ||
| Q4 25 | $143.9M | $69.6M | ||
| Q3 25 | $209.9M | $60.4M | ||
| Q2 25 | $151.7M | $38.7M | ||
| Q1 25 | $145.7M | $66.7M | ||
| Q4 24 | $168.4M | — | ||
| Q3 24 | $209.3M | $62.3M | ||
| Q2 24 | $215.8M | $49.0M |
| Q1 26 | $13.3M | $30.0M | ||
| Q4 25 | $99.1M | $49.4M | ||
| Q3 25 | $145.2M | $51.6M | ||
| Q2 25 | $84.7M | $30.5M | ||
| Q1 25 | $58.9M | $61.3M | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | $57.1M | ||
| Q2 24 | $114.3M | $41.5M |
| Q1 26 | 2.6% | 11.0% | ||
| Q4 25 | 18.5% | 18.9% | ||
| Q3 25 | 25.4% | 20.5% | ||
| Q2 25 | 15.5% | 12.9% | ||
| Q1 25 | 10.9% | 28.1% | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | 28.5% | ||
| Q2 24 | 19.3% | 21.8% |
| Q1 26 | 18.5% | 4.8% | ||
| Q4 25 | 8.4% | 7.7% | ||
| Q3 25 | 11.3% | 3.5% | ||
| Q2 25 | 12.2% | 3.5% | ||
| Q1 25 | 16.1% | 2.4% | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | 2.6% | ||
| Q2 24 | 17.1% | 3.9% |
| Q1 26 | — | 0.88× | ||
| Q4 25 | 1.74× | 1.54× | ||
| Q3 25 | 2.21× | 1.65× | ||
| Q2 25 | 2.55× | 1.22× | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | 2.12× | ||
| Q2 24 | 2.15× | 2.46× |
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% |
MTSI
| Industrial Defense | $117.7M | 43% |
| Data Center | $85.8M | 32% |
| Telecom | $68.1M | 25% |
