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ALLIANCE RESOURCE PARTNERS LP（ARLP）与STARWOOD PROPERTY TRUST, INC.（STWD）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STARWOOD PROPERTY TRUST, INC.的1.0倍（$516.0M vs $492.9M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs 2.1%，领先17.6%），STARWOOD PROPERTY TRUST, INC.同比增速更快（8.5% vs -3.6%），过去两年STARWOOD PROPERTY TRUST, INC.的营收复合增速更高（-2.9% vs -6.7%）
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ARLP vs STWD — 直观对比
营收规模更大
ARLP
是对方的1.0倍
$492.9M
营收增速更快
STWD
高出12.1%
-3.6%
净利率更高
STWD
高出17.6%
2.1%
两年增速更快
STWD
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $492.9M |
| 净利润 | $10.7M | $96.9M |
| 毛利率 | — | — |
| 营业利润率 | 4.2% | 26.6% |
| 净利率 | 2.1% | 19.7% |
| 营收同比 | -3.6% | 8.5% |
| 净利润同比 | — | 87.7% |
| 每股收益（稀释后） | — | $0.25 |
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ARLPSTWD
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $492.9M | ||
| Q3 25 | $571.4M | $488.9M | ||
| Q2 25 | $547.5M | $444.3M | ||
| Q1 25 | $540.5M | $418.2M | ||
| Q4 24 | $590.1M | $454.4M | ||
| Q3 24 | $613.6M | $479.5M | ||
| Q2 24 | $593.4M | $489.8M |
净利润ARLPSTWD
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $96.9M | ||
| Q3 25 | $95.1M | $72.6M | ||
| Q2 25 | $59.4M | $129.8M | ||
| Q1 25 | $74.0M | $112.3M | ||
| Q4 24 | $16.3M | $51.6M | ||
| Q3 24 | $86.3M | $76.1M | ||
| Q2 24 | $100.2M | $77.9M |
营业利润率ARLPSTWD
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 26.6% | ||
| Q3 25 | 18.4% | 19.1% | ||
| Q2 25 | 16.2% | 30.5% | ||
| Q1 25 | 17.4% | 28.7% | ||
| Q4 24 | 2.6% | 15.1% | ||
| Q3 24 | 16.5% | 17.2% | ||
| Q2 24 | 19.8% | 19.1% |
净利率ARLPSTWD
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 19.7% | ||
| Q3 25 | 16.6% | 14.8% | ||
| Q2 25 | 10.9% | 29.2% | ||
| Q1 25 | 13.7% | 26.8% | ||
| Q4 24 | 2.8% | 11.4% | ||
| Q3 24 | 14.1% | 15.9% | ||
| Q2 24 | 16.9% | 15.9% |
每股收益（稀释后）ARLPSTWD
| Q1 26 | — | — | ||
| Q4 25 | — | $0.25 | ||
| Q3 25 | — | $0.19 | ||
| Q2 25 | — | $0.38 | ||
| Q1 25 | — | $0.33 | ||
| Q4 24 | — | $0.15 | ||
| Q3 24 | — | $0.23 | ||
| Q2 24 | — | $0.24 |
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 | $499.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $6.8B |
| 总资产 | $2.9B | $63.2B |
| 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ARLPSTWD
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $499.5M | ||
| Q3 25 | $94.5M | $301.1M | ||
| Q2 25 | $55.0M | $259.9M | ||
| Q1 25 | $81.3M | $440.6M | ||
| Q4 24 | $137.0M | $377.8M | ||
| Q3 24 | $195.4M | $357.9M | ||
| Q2 24 | $203.7M | $259.3M |
股东权益ARLPSTWD
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $6.9B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.2B |
总资产ARLPSTWD
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $63.2B | ||
| Q3 25 | $2.9B | $62.4B | ||
| Q2 25 | $2.9B | $62.4B | ||
| Q1 25 | $2.9B | $62.2B | ||
| Q4 24 | $2.9B | $62.6B | ||
| Q3 24 | $3.0B | $64.2B | ||
| Q2 24 | $3.1B | $64.1B |
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 | — | $488.8M |
| 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 | — | 5.04× |
| 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ARLPSTWD
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $488.8M | ||
| Q3 25 | $209.9M | $337.6M | ||
| Q2 25 | $151.7M | $-87.4M | ||
| Q1 25 | $145.7M | $238.9M | ||
| Q4 24 | $168.4M | $295.6M | ||
| Q3 24 | $209.3M | $241.8M | ||
| Q2 24 | $215.8M | $53.3M |
自由现金流ARLPSTWD
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | — | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $84.7M | — | ||
| Q1 25 | $58.9M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $99.0M | — | ||
| Q2 24 | $114.3M | — |
自由现金流率ARLPSTWD
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 19.3% | — |
资本支出强度ARLPSTWD
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 16.1% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.1% | — |
现金转化率ARLPSTWD
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 5.04× | ||
| Q3 25 | 2.21× | 4.65× | ||
| Q2 25 | 2.55× | -0.67× | ||
| Q1 25 | 1.97× | 2.13× | ||
| Q4 24 | 10.31× | 5.72× | ||
| Q3 24 | 2.43× | 3.18× | ||
| Q2 24 | 2.15× | 0.68× |
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% |
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
