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ALLIANCE RESOURCE PARTNERS LP（ARLP）与印度钢铁管理局（SAIL）财务数据对比。点击上方公司名可切换其他公司
ALLIANCE RESOURCE PARTNERS LP的季度营收约是印度钢铁管理局的1.8倍（$516.0M vs $281.9M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -12.8%，领先14.8%），印度钢铁管理局同比增速更快（6.7% vs -3.6%），印度钢铁管理局自由现金流更多（$52.5M vs $13.3M）
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。
印度钢铁管理局（SAIL）是总部位于新德里的印度公营钢铁制造企业，属印度最高级别的“马哈拉特纳”中央公共部门企业，是印度最大的国有钢铁生产商，年钢铁产量达1829万吨，1973年1月24日成立，现有员工5.1万余名，由印度钢铁部行政管理。
ARLP vs SAIL — 直观对比
营收规模更大
ARLP
是对方的1.8倍
$281.9M
营收增速更快
SAIL
高出10.3%
-3.6%
净利率更高
ARLP
高出14.8%
-12.8%
自由现金流更多
SAIL
多$39.3M
$13.3M
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $281.9M |
| 净利润 | $10.7M | $-36.0M |
| 毛利率 | — | 66.3% |
| 营业利润率 | 4.2% | -14.8% |
| 净利率 | 2.1% | -12.8% |
| 营收同比 | -3.6% | 6.7% |
| 净利润同比 | — | -240.9% |
| 每股收益（稀释后） | — | $-0.06 |
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ARLPSAIL
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $281.9M | ||
| Q3 25 | $571.4M | $264.4M | ||
| Q2 25 | $547.5M | $230.5M | ||
| Q1 25 | $540.5M | $240.1M | ||
| Q4 24 | $590.1M | — | ||
| Q3 24 | $613.6M | $198.6M | ||
| Q2 24 | $593.4M | $187.7M |
净利润ARLPSAIL
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-36.0M | ||
| Q3 25 | $95.1M | $-10.6M | ||
| Q2 25 | $59.4M | $-187.3M | ||
| Q1 25 | $74.0M | $-80.1M | ||
| Q4 24 | $16.3M | — | ||
| Q3 24 | $86.3M | $-87.1M | ||
| Q2 24 | $100.2M | $-89.2M |
毛利率ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | — | 66.3% | ||
| Q3 25 | — | 67.3% | ||
| Q2 25 | — | 55.4% | ||
| Q1 25 | — | 66.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 62.1% | ||
| Q2 24 | — | 61.5% |
营业利润率ARLPSAIL
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -14.8% | ||
| Q3 25 | 18.4% | -15.4% | ||
| Q2 25 | 16.2% | -80.3% | ||
| Q1 25 | 17.4% | -12.6% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 16.5% | -33.2% | ||
| Q2 24 | 19.8% | -36.3% |
净利率ARLPSAIL
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -12.8% | ||
| Q3 25 | 16.6% | -4.0% | ||
| Q2 25 | 10.9% | -81.3% | ||
| Q1 25 | 13.7% | -33.4% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 14.1% | -43.9% | ||
| Q2 24 | 16.9% | -47.5% |
每股收益（稀释后）ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $-0.02 | ||
| Q2 25 | — | $-0.42 | ||
| Q1 25 | — | $-6.50 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-2.97 | ||
| Q2 24 | — | $-0.77 |
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 | $298.1M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | — | $6.8B |
| 总资产 | $2.9B | $7.5B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ARLPSAIL
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $298.1M | ||
| Q3 25 | $94.5M | $271.1M | ||
| Q2 25 | $55.0M | $228.1M | ||
| Q1 25 | $81.3M | $121.3M | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $195.4M | $89.7M | ||
| Q2 24 | $203.7M | $146.8M |
总债务ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $6.8B | ||
| Q2 25 | — | $6.8B | ||
| Q1 25 | — | $-5.6B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-701.3M | ||
| Q2 24 | — | $-622.5M |
总资产ARLPSAIL
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $7.5B | ||
| Q3 25 | $2.9B | $7.4B | ||
| Q2 25 | $2.9B | $7.4B | ||
| Q1 25 | $2.9B | $7.4B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.1B | — |
负债/权益比ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $53.6M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $52.5M |
| 自由现金流率自由现金流/营收 | 2.6% | 18.6% |
| 资本支出强度资本支出/营收 | 18.5% | 0.4% |
| 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ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $53.6M | ||
| Q3 25 | $209.9M | $49.9M | ||
| Q2 25 | $151.7M | $-96.8M | ||
| Q1 25 | $145.7M | — | ||
| Q4 24 | $168.4M | — | ||
| Q3 24 | $209.3M | — | ||
| Q2 24 | $215.8M | $-55.4M |
自由现金流ARLPSAIL
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $52.5M | ||
| Q3 25 | $145.2M | $49.0M | ||
| Q2 25 | $84.7M | $-99.0M | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | $-56.0M |
自由现金流率ARLPSAIL
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 18.6% | ||
| Q3 25 | 25.4% | 18.5% | ||
| Q2 25 | 15.5% | -43.0% | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | -29.8% |
资本支出强度ARLPSAIL
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 0.4% | ||
| Q3 25 | 11.3% | 0.4% | ||
| Q2 25 | 12.2% | 1.0% | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | 0.3% |
现金转化率ARLPSAIL
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | — | ||
| Q2 24 | 2.15× | — |
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% |
SAIL
| Software As A Service Saa S | $156.0M | 55% |
| Term Subscriptions Services | $65.1M | 23% |
| Maintenance | $38.0M | 13% |
| Other | $15.7M | 6% |
| Other Subscription Services | $7.1M | 3% |
