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ALLIANCE RESOURCE PARTNERS LP（ARLP）与STEWART INFORMATION SERVICES CORP（STC）财务数据对比。点击上方公司名可切换其他公司
STEWART INFORMATION SERVICES CORP的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.5倍（$764.6M vs $516.0M），STEWART INFORMATION SERVICES CORP净利率更高（2.2% vs 2.1%，领先0.1%），STEWART INFORMATION SERVICES CORP同比增速更快（27.7% vs -3.6%），过去两年STEWART INFORMATION SERVICES CORP的营收复合增速更高（12.7% 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。
斯图尔特信息服务公司（STC）是一家主营房地产信息、产权保险及交易管理服务的企业，旗下全资子公司斯图尔特产权担保公司、斯图尔特产权公司通过直营网点、斯图尔特可信供应商网络内的独立代理机构及合作企业，为美国及全球市场提供相关产品与服务，总部位于得克萨斯州休斯敦，现有员工约6350人。
ARLP vs STC — 直观对比
营收规模更大
STC
是对方的1.5倍
$516.0M
营收增速更快
STC
高出31.3%
-3.6%
净利率更高
STC
高出0.1%
2.1%
两年增速更快
STC
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $764.6M |
| 净利润 | $10.7M | $17.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.2% | — |
| 净利率 | 2.1% | 2.2% |
| 营收同比 | -3.6% | 27.7% |
| 净利润同比 | — | 448.4% |
| 每股收益（稀释后） | — | — |
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ARLPSTC
| Q1 26 | $516.0M | $764.6M | ||
| Q4 25 | $535.5M | $790.6M | ||
| Q3 25 | $571.4M | $796.9M | ||
| Q2 25 | $547.5M | $722.2M | ||
| Q1 25 | $540.5M | $612.0M | ||
| Q4 24 | $590.1M | $665.9M | ||
| Q3 24 | $613.6M | $667.9M | ||
| Q2 24 | $593.4M | $602.2M |
净利润ARLPSTC
| Q1 26 | $10.7M | $17.0M | ||
| Q4 25 | $82.7M | $36.3M | ||
| Q3 25 | $95.1M | $44.3M | ||
| Q2 25 | $59.4M | $31.9M | ||
| Q1 25 | $74.0M | $3.1M | ||
| Q4 24 | $16.3M | $22.7M | ||
| Q3 24 | $86.3M | $30.1M | ||
| Q2 24 | $100.2M | $17.3M |
营业利润率ARLPSTC
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 6.5% | ||
| Q3 25 | 18.4% | 7.7% | ||
| Q2 25 | 16.2% | 6.5% | ||
| Q1 25 | 17.4% | 1.0% | ||
| Q4 24 | 2.6% | 5.3% | ||
| Q3 24 | 16.5% | 6.4% | ||
| Q2 24 | 19.8% | 4.8% |
净利率ARLPSTC
| Q1 26 | 2.1% | 2.2% | ||
| Q4 25 | 15.4% | 4.6% | ||
| Q3 25 | 16.6% | 5.6% | ||
| Q2 25 | 10.9% | 4.4% | ||
| Q1 25 | 13.7% | 0.5% | ||
| Q4 24 | 2.8% | 3.4% | ||
| Q3 24 | 14.1% | 4.5% | ||
| Q2 24 | 16.9% | 2.9% |
每股收益（稀释后）ARLPSTC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.26 | ||
| Q3 25 | — | $1.55 | ||
| Q2 25 | — | $1.13 | ||
| Q1 25 | — | $0.11 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | — | $1.07 | ||
| Q2 24 | — | $0.62 |
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 | $317.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | — |
| 总资产 | $2.9B | — |
| 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ARLPSTC
| Q1 26 | $28.9M | $317.5M | ||
| Q4 25 | $71.2M | $369.7M | ||
| Q3 25 | $94.5M | $233.2M | ||
| Q2 25 | $55.0M | $223.8M | ||
| Q1 25 | $81.3M | $194.2M | ||
| Q4 24 | $137.0M | $257.5M | ||
| Q3 24 | $195.4M | $228.7M | ||
| Q2 24 | $203.7M | $176.7M |
总债务ARLPSTC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $445.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARLPSTC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B |
总资产ARLPSTC
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $3.3B | ||
| Q3 25 | $2.9B | $2.8B | ||
| Q2 25 | $2.9B | $2.8B | ||
| Q1 25 | $2.9B | $2.7B | ||
| Q4 24 | $2.9B | $2.7B | ||
| Q3 24 | $3.0B | $2.7B | ||
| Q2 24 | $3.1B | $2.6B |
负债/权益比ARLPSTC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.32× | ||
| 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 | — | — |
| 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 | — | — |
| 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ARLPSTC
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $89.5M | ||
| Q3 25 | $209.9M | $92.6M | ||
| Q2 25 | $151.7M | $53.4M | ||
| Q1 25 | $145.7M | $-29.9M | ||
| Q4 24 | $168.4M | $68.0M | ||
| Q3 24 | $209.3M | $76.1M | ||
| Q2 24 | $215.8M | $21.1M |
自由现金流ARLPSTC
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $62.3M | ||
| Q3 25 | $145.2M | $73.6M | ||
| Q2 25 | $84.7M | $38.7M | ||
| Q1 25 | $58.9M | $-42.2M | ||
| Q4 24 | $75.3M | $55.6M | ||
| Q3 24 | $99.0M | $67.4M | ||
| Q2 24 | $114.3M | $11.9M |
自由现金流率ARLPSTC
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 7.9% | ||
| Q3 25 | 25.4% | 9.2% | ||
| Q2 25 | 15.5% | 5.4% | ||
| Q1 25 | 10.9% | -6.9% | ||
| Q4 24 | 12.8% | 8.4% | ||
| Q3 24 | 16.1% | 10.1% | ||
| Q2 24 | 19.3% | 2.0% |
资本支出强度ARLPSTC
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 3.4% | ||
| Q3 25 | 11.3% | 2.4% | ||
| Q2 25 | 12.2% | 2.0% | ||
| Q1 25 | 16.1% | 2.0% | ||
| Q4 24 | 15.8% | 1.9% | ||
| Q3 24 | 18.0% | 1.3% | ||
| Q2 24 | 17.1% | 1.5% |
现金转化率ARLPSTC
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 2.47× | ||
| Q3 25 | 2.21× | 2.09× | ||
| Q2 25 | 2.55× | 1.67× | ||
| Q1 25 | 1.97× | -9.73× | ||
| Q4 24 | 10.31× | 2.99× | ||
| Q3 24 | 2.43× | 2.53× | ||
| Q2 24 | 2.15× | 1.22× |
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% |
STC
| Agency title | $333.0M | 44% |
| Direct title | $270.2M | 35% |
| Real estate solutions | $161.4M | 21% |
