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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Natural Grocers by Vitamin Cottage, Inc.（NGVC）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Natural Grocers by Vitamin Cottage, Inc.的1.5倍（$516.0M vs $335.6M），Natural Grocers by Vitamin Cottage, Inc.净利率更高（3.4% vs 2.1%，领先1.3%），Natural Grocers by Vitamin Cottage, Inc.同比增速更快（1.6% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $11.6M），过去两年Natural Grocers by Vitamin Cottage, Inc.的营收复合增速更高（4.4% 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。
Natural Grocers by Vitamin Cottage, Inc.是美国本土的特色零售连锁企业，主营认证有机食品、膳食补充剂、天然个护及环保家居类产品，面向健康意识较强的消费群体，门店覆盖美国多州，执行严格品控标准，拒绝售卖含人工添加剂的商品。
ARLP vs NGVC — 直观对比
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $335.6M |
| 净利润 | $10.7M | $11.3M |
| 毛利率 | — | 29.5% |
| 营业利润率 | 4.2% | 4.4% |
| 净利率 | 2.1% | 3.4% |
| 营收同比 | -3.6% | 1.6% |
| 净利润同比 | — | 14.0% |
| 每股收益（稀释后） | — | $0.49 |
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 | $335.6M | ||
| Q3 25 | $571.4M | $336.1M | ||
| Q2 25 | $547.5M | $328.7M | ||
| Q1 25 | $540.5M | $335.8M | ||
| Q4 24 | $590.1M | $330.2M | ||
| Q3 24 | $613.6M | $322.7M | ||
| Q2 24 | $593.4M | $309.1M |
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $11.3M | ||
| Q3 25 | $95.1M | $11.8M | ||
| Q2 25 | $59.4M | $11.6M | ||
| Q1 25 | $74.0M | $13.1M | ||
| Q4 24 | $16.3M | $9.9M | ||
| Q3 24 | $86.3M | $9.0M | ||
| Q2 24 | $100.2M | $9.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% |
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 4.4% | ||
| Q3 25 | 18.4% | 4.6% | ||
| Q2 25 | 16.2% | 4.7% | ||
| Q1 25 | 17.4% | 5.2% | ||
| Q4 24 | 2.6% | 4.0% | ||
| Q3 24 | 16.5% | 3.7% | ||
| Q2 24 | 19.8% | 4.2% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 3.4% | ||
| Q3 25 | 16.6% | 3.5% | ||
| Q2 25 | 10.9% | 3.5% | ||
| Q1 25 | 13.7% | 3.9% | ||
| Q4 24 | 2.8% | 3.0% | ||
| Q3 24 | 14.1% | 2.8% | ||
| Q2 24 | 16.9% | 3.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.51 | ||
| Q2 25 | — | $0.50 | ||
| Q1 25 | — | $0.56 | ||
| Q4 24 | — | $0.43 | ||
| Q3 24 | — | $0.38 | ||
| Q2 24 | — | $0.40 |
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 | $23.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $220.0M |
| 总资产 | $2.9B | $668.6M |
| 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 | — | ||
| Q4 25 | $71.2M | $23.2M | ||
| Q3 25 | $94.5M | $17.1M | ||
| Q2 25 | $55.0M | $13.2M | ||
| Q1 25 | $81.3M | $21.2M | ||
| Q4 24 | $137.0M | $6.3M | ||
| Q3 24 | $195.4M | $8.9M | ||
| Q2 24 | $203.7M | $13.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $220.0M | ||
| Q3 25 | — | $212.4M | ||
| Q2 25 | — | $202.5M | ||
| Q1 25 | — | $193.0M | ||
| Q4 24 | — | $181.9M | ||
| Q3 24 | — | $174.3M | ||
| Q2 24 | — | $167.8M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $668.6M | ||
| Q3 25 | $2.9B | $670.5M | ||
| Q2 25 | $2.9B | $659.0M | ||
| Q1 25 | $2.9B | $664.6M | ||
| Q4 24 | $2.9B | $648.9M | ||
| Q3 24 | $3.0B | $655.5M | ||
| Q2 24 | $3.1B | $654.4M |
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 | — | $21.1M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $11.6M |
| 自由现金流率自由现金流/营收 | 2.6% | 3.4% |
| 资本支出强度资本支出/营收 | 18.5% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 1.86× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $42.6M |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $21.1M | ||
| Q3 25 | $209.9M | $15.6M | ||
| Q2 25 | $151.7M | $2.9M | ||
| Q1 25 | $145.7M | $34.1M | ||
| Q4 24 | $168.4M | $2.7M | ||
| Q3 24 | $209.3M | $24.5M | ||
| Q2 24 | $215.8M | $12.4M |
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $11.6M | ||
| Q3 25 | $145.2M | $7.5M | ||
| Q2 25 | $84.7M | $-4.2M | ||
| Q1 25 | $58.9M | $27.6M | ||
| Q4 24 | $75.3M | $-6.9M | ||
| Q3 24 | $99.0M | $18.0M | ||
| Q2 24 | $114.3M | $3.6M |
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 3.4% | ||
| Q3 25 | 25.4% | 2.2% | ||
| Q2 25 | 15.5% | -1.3% | ||
| Q1 25 | 10.9% | 8.2% | ||
| Q4 24 | 12.8% | -2.1% | ||
| Q3 24 | 16.1% | 5.6% | ||
| Q2 24 | 19.3% | 1.2% |
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 2.9% | ||
| Q3 25 | 11.3% | 2.4% | ||
| Q2 25 | 12.2% | 2.2% | ||
| Q1 25 | 16.1% | 1.9% | ||
| Q4 24 | 15.8% | 2.9% | ||
| Q3 24 | 18.0% | 2.0% | ||
| Q2 24 | 17.1% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 1.86× | ||
| Q3 25 | 2.21× | 1.32× | ||
| Q2 25 | 2.55× | 0.25× | ||
| Q1 25 | 1.97× | 2.60× | ||
| Q4 24 | 10.31× | 0.27× | ||
| Q3 24 | 2.43× | 2.72× | ||
| Q2 24 | 2.15× | 1.35× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
