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ALLIANCE RESOURCE PARTNERS LP（ARLP）与STERLING INFRASTRUCTURE, INC.（STRL）财务数据对比。点击上方公司名可切换其他公司
STERLING INFRASTRUCTURE, INC.的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.6倍（$825.7M vs $516.0M），STERLING INFRASTRUCTURE, INC.净利率更高（11.6% vs 2.1%，领先9.5%），STERLING INFRASTRUCTURE, INC.同比增速更快（91.6% vs -3.6%），过去两年STERLING INFRASTRUCTURE, INC.的营收复合增速更高（19.0% 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。
本公司是总部位于印度马哈拉施特拉邦孟买的跨国工程总承包（EPC）企业，业务覆盖可再生能源、数据中心、柴油发电、机电水暖（MEP）服务等多个领域，已在全球三十余个国家交付项目，执行团队遍布亚洲、中东、非洲、欧洲及澳大利亚。
ARLP vs STRL — 直观对比
营收规模更大
STRL
是对方的1.6倍
$516.0M
营收增速更快
STRL
高出95.2%
-3.6%
净利率更高
STRL
高出9.5%
2.1%
两年增速更快
STRL
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $825.7M |
| 净利润 | $10.7M | $96.0M |
| 毛利率 | — | 23.5% |
| 营业利润率 | 4.2% | 16.7% |
| 净利率 | 2.1% | 11.6% |
| 营收同比 | -3.6% | 91.6% |
| 净利润同比 | — | 143.1% |
| 每股收益（稀释后） | — | $3.09 |
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ARLPSTRL
| Q1 26 | $516.0M | $825.7M | ||
| Q4 25 | $535.5M | $755.6M | ||
| Q3 25 | $571.4M | $689.0M | ||
| Q2 25 | $547.5M | $614.5M | ||
| Q1 25 | $540.5M | $430.9M | ||
| Q4 24 | $590.1M | $498.8M | ||
| Q3 24 | $613.6M | $593.7M | ||
| Q2 24 | $593.4M | $582.8M |
净利润ARLPSTRL
| Q1 26 | $10.7M | $96.0M | ||
| Q4 25 | $82.7M | $87.6M | ||
| Q3 25 | $95.1M | $92.1M | ||
| Q2 25 | $59.4M | $71.0M | ||
| Q1 25 | $74.0M | $39.5M | ||
| Q4 24 | $16.3M | $113.2M | ||
| Q3 24 | $86.3M | $61.3M | ||
| Q2 24 | $100.2M | $51.9M |
毛利率ARLPSTRL
| Q1 26 | — | 23.5% | ||
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 24.7% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 21.9% | ||
| Q2 24 | — | 19.3% |
营业利润率ARLPSTRL
| Q1 26 | 4.2% | 16.7% | ||
| Q4 25 | 18.2% | 15.9% | ||
| Q3 25 | 18.4% | 18.2% | ||
| Q2 25 | 16.2% | 17.0% | ||
| Q1 25 | 17.4% | 13.0% | ||
| Q4 24 | 2.6% | 12.5% | ||
| Q3 24 | 16.5% | 14.7% | ||
| Q2 24 | 19.8% | 12.5% |
净利率ARLPSTRL
| Q1 26 | 2.1% | 11.6% | ||
| Q4 25 | 15.4% | 11.6% | ||
| Q3 25 | 16.6% | 13.4% | ||
| Q2 25 | 10.9% | 11.6% | ||
| Q1 25 | 13.7% | 9.2% | ||
| Q4 24 | 2.8% | 22.7% | ||
| Q3 24 | 14.1% | 10.3% | ||
| Q2 24 | 16.9% | 8.9% |
每股收益（稀释后）ARLPSTRL
| Q1 26 | — | $3.09 | ||
| Q4 25 | — | $2.82 | ||
| Q3 25 | — | $2.97 | ||
| Q2 25 | — | $2.31 | ||
| Q1 25 | — | $1.28 | ||
| Q4 24 | — | $3.63 | ||
| Q3 24 | — | $1.97 | ||
| Q2 24 | — | $1.67 |
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 | $511.9M |
| 总债务越低越好 | — | $287.5M |
| 股东权益账面价值 | — | $1.2B |
| 总资产 | $2.9B | $2.8B |
| 负债/权益比越低杠杆越低 | — | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资ARLPSTRL
| Q1 26 | $28.9M | $511.9M | ||
| Q4 25 | $71.2M | $390.7M | ||
| Q3 25 | $94.5M | $306.4M | ||
| Q2 25 | $55.0M | $699.4M | ||
| Q1 25 | $81.3M | $638.6M | ||
| Q4 24 | $137.0M | $664.2M | ||
| Q3 24 | $195.4M | $648.1M | ||
| Q2 24 | $203.7M | $540.0M |
总债务ARLPSTRL
| Q1 26 | — | $287.5M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARLPSTRL
| Q1 26 | — | $1.2B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $881.7M | ||
| Q1 25 | — | $805.4M | ||
| Q4 24 | — | $808.1M | ||
| Q3 24 | — | $716.5M | ||
| Q2 24 | — | $670.7M |
总资产ARLPSTRL
| Q1 26 | $2.9B | $2.8B | ||
| Q4 25 | $2.9B | $2.6B | ||
| Q3 25 | $2.9B | $2.6B | ||
| Q2 25 | $2.9B | $2.2B | ||
| Q1 25 | $2.9B | $2.0B | ||
| Q4 24 | $2.9B | $2.0B | ||
| Q3 24 | $3.0B | $2.0B | ||
| Q2 24 | $3.1B | $2.0B |
负债/权益比ARLPSTRL
| Q1 26 | — | 0.24× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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 | — | $165.6M |
| 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% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 1.73× |
| 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ARLPSTRL
| Q1 26 | — | $165.6M | ||
| Q4 25 | $143.9M | $186.1M | ||
| Q3 25 | $209.9M | $83.6M | ||
| Q2 25 | $151.7M | $85.4M | ||
| Q1 25 | $145.7M | $84.9M | ||
| Q4 24 | $168.4M | $174.3M | ||
| Q3 24 | $209.3M | $152.3M | ||
| Q2 24 | $215.8M | $121.0M |
自由现金流ARLPSTRL
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $159.7M | ||
| Q3 25 | $145.2M | $64.0M | ||
| Q2 25 | $84.7M | $72.1M | ||
| Q1 25 | $58.9M | $67.0M | ||
| Q4 24 | $75.3M | $158.6M | ||
| Q3 24 | $99.0M | $138.3M | ||
| Q2 24 | $114.3M | $92.1M |
自由现金流率ARLPSTRL
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 21.1% | ||
| Q3 25 | 25.4% | 9.3% | ||
| Q2 25 | 15.5% | 11.7% | ||
| Q1 25 | 10.9% | 15.5% | ||
| Q4 24 | 12.8% | 31.8% | ||
| Q3 24 | 16.1% | 23.3% | ||
| Q2 24 | 19.3% | 15.8% |
资本支出强度ARLPSTRL
| Q1 26 | 18.5% | 2.4% | ||
| Q4 25 | 8.4% | 3.5% | ||
| Q3 25 | 11.3% | 2.9% | ||
| Q2 25 | 12.2% | 2.2% | ||
| Q1 25 | 16.1% | 4.2% | ||
| Q4 24 | 15.8% | 3.1% | ||
| Q3 24 | 18.0% | 2.4% | ||
| Q2 24 | 17.1% | 5.0% |
现金转化率ARLPSTRL
| Q1 26 | — | 1.73× | ||
| Q4 25 | 1.74× | 2.12× | ||
| Q3 25 | 2.21× | 0.91× | ||
| Q2 25 | 2.55× | 1.20× | ||
| Q1 25 | 1.97× | 2.15× | ||
| Q4 24 | 10.31× | 1.54× | ||
| Q3 24 | 2.43× | 2.48× | ||
| Q2 24 | 2.15× | 2.33× |
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% |
STRL
| E-Infrastructure Solutions | $597.7M | 72% |
| Transportation Solutions | $132.9M | 16% |
| Building Solutions | $95.1M | 12% |
