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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.2倍（$622.0M vs $516.0M），Royalty Pharma plc净利率更高（34.4% vs 2.1%，领先32.4%），Royalty Pharma plc同比增速更快（4.8% vs -3.6%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
ARLP vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.2倍
$516.0M
营收增速更快
RPRX
高出8.4%
-3.6%
净利率更高
RPRX
高出32.4%
2.1%
两年增速更快
RPRX
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $622.0M |
| 净利润 | $10.7M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 4.2% | 62.4% |
| 净利率 | 2.1% | 34.4% |
| 营收同比 | -3.6% | 4.8% |
| 净利润同比 | — | 2.9% |
| 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
营收ARLPRPRX
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $622.0M | ||
| Q3 25 | $571.4M | $609.3M | ||
| Q2 25 | $547.5M | $578.7M | ||
| Q1 25 | $540.5M | $568.2M | ||
| Q4 24 | $590.1M | $593.6M | ||
| Q3 24 | $613.6M | $564.7M | ||
| Q2 24 | $593.4M | $537.3M |
净利润ARLPRPRX
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $214.2M | ||
| Q3 25 | $95.1M | $288.2M | ||
| Q2 25 | $59.4M | $30.2M | ||
| Q1 25 | $74.0M | $238.3M | ||
| Q4 24 | $16.3M | $208.2M | ||
| Q3 24 | $86.3M | $544.0M | ||
| Q2 24 | $100.2M | $102.0M |
营业利润率ARLPRPRX
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 62.4% | ||
| Q3 25 | 18.4% | 70.1% | ||
| Q2 25 | 16.2% | 36.3% | ||
| Q1 25 | 17.4% | 94.0% | ||
| Q4 24 | 2.6% | 60.9% | ||
| Q3 24 | 16.5% | — | ||
| Q2 24 | 19.8% | 50.2% |
净利率ARLPRPRX
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 34.4% | ||
| Q3 25 | 16.6% | 47.3% | ||
| Q2 25 | 10.9% | 5.2% | ||
| Q1 25 | 13.7% | 41.9% | ||
| Q4 24 | 2.8% | 35.1% | ||
| Q3 24 | 14.1% | 96.3% | ||
| Q2 24 | 16.9% | 19.0% |
每股收益（稀释后）ARLPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.67 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $1.21 | ||
| Q2 24 | — | $0.23 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | — | $9.7B |
| 总资产 | $2.9B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资ARLPRPRX
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $618.7M | ||
| Q3 25 | $94.5M | $938.9M | ||
| Q2 25 | $55.0M | $631.9M | ||
| Q1 25 | $81.3M | $1.1B | ||
| Q4 24 | $137.0M | $929.0M | ||
| Q3 24 | $195.4M | $950.1M | ||
| Q2 24 | $203.7M | $1.8B |
总债务ARLPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B |
股东权益ARLPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | $9.7B | ||
| Q3 25 | — | $9.6B | ||
| Q2 25 | — | $9.5B | ||
| Q1 25 | — | $9.8B | ||
| Q4 24 | — | $10.3B | ||
| Q3 24 | — | $10.3B | ||
| Q2 24 | — | $9.8B |
总资产ARLPRPRX
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $19.6B | ||
| Q3 25 | $2.9B | $19.3B | ||
| Q2 25 | $2.9B | $18.3B | ||
| Q1 25 | $2.9B | $17.6B | ||
| Q4 24 | $2.9B | $18.2B | ||
| Q3 24 | $3.0B | $18.0B | ||
| Q2 24 | $3.1B | $17.7B |
负债/权益比ARLPRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | — | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | — |
| 自由现金流率自由现金流/营收 | 2.6% | — |
| 资本支出强度资本支出/营收 | 18.5% | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 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ARLPRPRX
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $827.1M | ||
| Q3 25 | $209.9M | $702.6M | ||
| Q2 25 | $151.7M | $364.0M | ||
| Q1 25 | $145.7M | $596.1M | ||
| Q4 24 | $168.4M | $742.5M | ||
| Q3 24 | $209.3M | $703.6M | ||
| Q2 24 | $215.8M | $658.2M |
自由现金流ARLPRPRX
| Q1 26 | $13.3M | — | ||
| 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ARLPRPRX
| Q1 26 | 2.6% | — | ||
| 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ARLPRPRX
| Q1 26 | 18.5% | — | ||
| 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ARLPRPRX
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 3.86× | ||
| Q3 25 | 2.21× | 2.44× | ||
| Q2 25 | 2.55× | 12.06× | ||
| Q1 25 | 1.97× | 2.50× | ||
| Q4 24 | 10.31× | 3.57× | ||
| Q3 24 | 2.43× | 1.29× | ||
| Q2 24 | 2.15× | 6.45× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
