vs
ALLIANCE RESOURCE PARTNERS LP（ARLP）与全食超市（SMPL）财务数据对比。点击上方公司名可切换其他公司
ALLIANCE RESOURCE PARTNERS LP的季度营收约是全食超市的1.5倍（$516.0M vs $340.2M），全食超市净利率更高（7.4% vs 2.1%，领先5.3%），全食超市同比增速更快（-0.3% vs -3.6%），全食超市自由现金流更多（$48.0M vs $13.3M），过去两年全食超市的营收复合增速更高（3.0% 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。
全食超市是总部位于美国得克萨斯州奥斯汀的跨国连锁超市，现为亚马逊全资旗下品牌。门店主打无氢化脂肪、人工色素、人工香精、防腐剂的天然食品，是美国农业部认证的有机食品零售商，以丰富的有机商品选择深受消费者欢迎。
ARLP vs SMPL — 直观对比
营收规模更大
ARLP
是对方的1.5倍
$340.2M
营收增速更快
SMPL
高出3.3%
-3.6%
净利率更高
SMPL
高出5.3%
2.1%
自由现金流更多
SMPL
多$34.7M
$13.3M
两年增速更快
SMPL
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $340.2M |
| 净利润 | $10.7M | $25.3M |
| 毛利率 | — | 32.3% |
| 营业利润率 | 4.2% | 11.0% |
| 净利率 | 2.1% | 7.4% |
| 营收同比 | -3.6% | -0.3% |
| 净利润同比 | — | -33.7% |
| 每股收益（稀释后） | — | $0.26 |
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ARLPSMPL
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $340.2M | ||
| Q3 25 | $571.4M | — | ||
| Q2 25 | $547.5M | $381.0M | ||
| Q1 25 | $540.5M | — | ||
| Q4 24 | $590.1M | $341.3M | ||
| Q3 24 | $613.6M | $375.7M | ||
| Q2 24 | $593.4M | $334.8M |
净利润ARLPSMPL
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $25.3M | ||
| Q3 25 | $95.1M | — | ||
| Q2 25 | $59.4M | $41.1M | ||
| Q1 25 | $74.0M | — | ||
| Q4 24 | $16.3M | $38.1M | ||
| Q3 24 | $86.3M | $29.3M | ||
| Q2 24 | $100.2M | $41.3M |
毛利率ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | — | 32.3% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 38.2% | ||
| Q3 24 | — | 38.8% | ||
| Q2 24 | — | 39.9% |
营业利润率ARLPSMPL
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 11.0% | ||
| Q3 25 | 18.4% | — | ||
| Q2 25 | 16.2% | 15.6% | ||
| Q1 25 | 17.4% | — | ||
| Q4 24 | 2.6% | 16.0% | ||
| Q3 24 | 16.5% | 12.7% | ||
| Q2 24 | 19.8% | 17.6% |
净利率ARLPSMPL
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 7.4% | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 10.9% | 10.8% | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 2.8% | 11.2% | ||
| Q3 24 | 14.1% | 7.8% | ||
| Q2 24 | 16.9% | 12.3% |
每股收益（稀释后）ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | — | $0.26 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $0.40 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0.38 | ||
| Q3 24 | — | $0.29 | ||
| Q2 24 | — | $0.41 |
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 | $194.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.7B |
| 总资产 | $2.9B | $2.5B |
| 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ARLPSMPL
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $194.1M | ||
| Q3 25 | $94.5M | — | ||
| Q2 25 | $55.0M | $98.0M | ||
| Q1 25 | $81.3M | — | ||
| Q4 24 | $137.0M | $121.8M | ||
| Q3 24 | $195.4M | $132.5M | ||
| Q2 24 | $203.7M | $208.7M |
总债务ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $397.5M | ||
| Q2 24 | — | $237.7M |
股东权益ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
总资产ARLPSMPL
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $2.5B | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | $2.4B | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $3.0B | $2.4B | ||
| Q2 24 | $3.1B | $2.2B |
负债/权益比ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.14× |
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 | — | $50.1M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $48.0M |
| 自由现金流率自由现金流/营收 | 2.6% | 14.1% |
| 资本支出强度资本支出/营收 | 18.5% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $223.6M |
8季度趋势，按日历期对齐
经营现金流ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $50.1M | ||
| Q3 25 | $209.9M | — | ||
| Q2 25 | $151.7M | $101.1M | ||
| Q1 25 | $145.7M | — | ||
| Q4 24 | $168.4M | $32.0M | ||
| Q3 24 | $209.3M | $48.9M | ||
| Q2 24 | $215.8M | $72.8M |
自由现金流ARLPSMPL
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $48.0M | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | $98.9M | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | $31.7M | ||
| Q3 24 | $99.0M | $45.0M | ||
| Q2 24 | $114.3M | $72.0M |
自由现金流率ARLPSMPL
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 14.1% | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | 25.9% | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | 9.3% | ||
| Q3 24 | 16.1% | 12.0% | ||
| Q2 24 | 19.3% | 21.5% |
资本支出强度ARLPSMPL
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 0.6% | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | 0.6% | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | 0.1% | ||
| Q3 24 | 18.0% | 1.0% | ||
| Q2 24 | 17.1% | 0.2% |
现金转化率ARLPSMPL
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 1.98× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | 2.46× | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | 0.84× | ||
| Q3 24 | 2.43× | 1.67× | ||
| Q2 24 | 2.15× | 1.76× |
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% |
SMPL
| Quest | $211.4M | 62% |
| Atkins Domain | $79.7M | 23% |
| OWYN | $28.1M | 8% |
| Other | $20.9M | 6% |
