vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.5倍（$766.5M vs $516.0M），SCANSOURCE, INC.净利率更高（2.2% vs 2.1%，领先0.1%），SCANSOURCE, INC.同比增速更快（2.5% vs -3.6%），SCANSOURCE, INC.自由现金流更多（$28.9M vs $13.3M），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% 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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
ARLP vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.5倍
$516.0M
营收增速更快
SCSC
高出6.2%
-3.6%
净利率更高
SCSC
高出0.1%
2.1%
自由现金流更多
SCSC
多$15.6M
$13.3M
两年增速更快
SCSC
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $766.5M |
| 净利润 | $10.7M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | 4.2% | 2.3% |
| 净利率 | 2.1% | 2.2% |
| 营收同比 | -3.6% | 2.5% |
| 净利润同比 | — | -3.3% |
| 每股收益（稀释后） | — | $0.75 |
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ARLPSCSC
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $766.5M | ||
| Q3 25 | $571.4M | $739.6M | ||
| Q2 25 | $547.5M | $812.9M | ||
| Q1 25 | $540.5M | $704.8M | ||
| Q4 24 | $590.1M | $747.5M | ||
| Q3 24 | $613.6M | $775.6M | ||
| Q2 24 | $593.4M | $746.1M |
净利润ARLPSCSC
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $16.5M | ||
| Q3 25 | $95.1M | $19.9M | ||
| Q2 25 | $59.4M | $20.1M | ||
| Q1 25 | $74.0M | $17.4M | ||
| Q4 24 | $16.3M | $17.1M | ||
| Q3 24 | $86.3M | $17.0M | ||
| Q2 24 | $100.2M | $16.1M |
毛利率ARLPSCSC
| Q1 26 | — | — | ||
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% |
营业利润率ARLPSCSC
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 2.3% | ||
| Q3 25 | 18.4% | 3.5% | ||
| Q2 25 | 16.2% | 3.3% | ||
| Q1 25 | 17.4% | 3.2% | ||
| Q4 24 | 2.6% | 2.5% | ||
| Q3 24 | 16.5% | 2.3% | ||
| Q2 24 | 19.8% | 2.9% |
净利率ARLPSCSC
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 2.2% | ||
| Q3 25 | 16.6% | 2.7% | ||
| Q2 25 | 10.9% | 2.5% | ||
| Q1 25 | 13.7% | 2.5% | ||
| Q4 24 | 2.8% | 2.3% | ||
| Q3 24 | 14.1% | 2.2% | ||
| Q2 24 | 16.9% | 2.2% |
每股收益（稀释后）ARLPSCSC
| Q1 26 | — | — | ||
| Q4 25 | — | $0.75 | ||
| Q3 25 | — | $0.89 | ||
| Q2 25 | — | $0.87 | ||
| Q1 25 | — | $0.74 | ||
| Q4 24 | — | $0.70 | ||
| Q3 24 | — | $0.69 | ||
| Q2 24 | — | $0.66 |
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 | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $910.9M |
| 总资产 | $2.9B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARLPSCSC
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $83.5M | ||
| Q3 25 | $94.5M | $124.9M | ||
| Q2 25 | $55.0M | $126.2M | ||
| Q1 25 | $81.3M | $146.3M | ||
| Q4 24 | $137.0M | $110.5M | ||
| Q3 24 | $195.4M | $145.0M | ||
| Q2 24 | $203.7M | $185.5M |
股东权益ARLPSCSC
| Q1 26 | — | — | ||
| Q4 25 | — | $910.9M | ||
| Q3 25 | — | $914.0M | ||
| Q2 25 | — | $906.4M | ||
| Q1 25 | — | $901.7M | ||
| Q4 24 | — | $900.7M | ||
| Q3 24 | — | $920.9M | ||
| Q2 24 | — | $924.3M |
总资产ARLPSCSC
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.7B | ||
| Q3 25 | $2.9B | $1.7B | ||
| Q2 25 | $2.9B | $1.8B | ||
| Q1 25 | $2.9B | $1.7B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $3.0B | $1.8B | ||
| Q2 24 | $3.1B | $1.8B |
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 | — | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $28.9M |
| 自由现金流率自由现金流/营收 | 2.6% | 3.8% |
| 资本支出强度资本支出/营收 | 18.5% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 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ARLPSCSC
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $30.8M | ||
| Q3 25 | $209.9M | $23.2M | ||
| Q2 25 | $151.7M | — | ||
| Q1 25 | $145.7M | $66.1M | ||
| Q4 24 | $168.4M | $-6.2M | ||
| Q3 24 | $209.3M | $44.8M | ||
| Q2 24 | $215.8M | — |
自由现金流ARLPSCSC
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $28.9M | ||
| Q3 25 | $145.2M | $20.8M | ||
| Q2 25 | $84.7M | — | ||
| Q1 25 | $58.9M | $64.6M | ||
| Q4 24 | $75.3M | $-8.2M | ||
| Q3 24 | $99.0M | $42.5M | ||
| Q2 24 | $114.3M | — |
自由现金流率ARLPSCSC
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 3.8% | ||
| Q3 25 | 25.4% | 2.8% | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 10.9% | 9.2% | ||
| Q4 24 | 12.8% | -1.1% | ||
| Q3 24 | 16.1% | 5.5% | ||
| Q2 24 | 19.3% | — |
资本支出强度ARLPSCSC
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 0.3% | ||
| Q3 25 | 11.3% | 0.3% | ||
| Q2 25 | 12.2% | 0.3% | ||
| Q1 25 | 16.1% | 0.2% | ||
| Q4 24 | 15.8% | 0.3% | ||
| Q3 24 | 18.0% | 0.3% | ||
| Q2 24 | 17.1% | 0.2% |
现金转化率ARLPSCSC
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 1.87× | ||
| Q3 25 | 2.21× | 1.17× | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | 3.79× | ||
| Q4 24 | 10.31× | -0.36× | ||
| Q3 24 | 2.43× | 2.64× | ||
| 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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
