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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Tyler Technologies（TYL）财务数据对比。点击上方公司名可切换其他公司
Tyler Technologies的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.2倍（$613.5M vs $516.0M），Tyler Technologies净利率更高（13.2% vs 2.1%，领先11.1%），Tyler Technologies同比增速更快（8.6% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $2.0M），过去两年Tyler Technologies的营收复合增速更高（6.5% 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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
ARLP vs TYL — 直观对比
营收规模更大
TYL
是对方的1.2倍
$516.0M
营收增速更快
TYL
高出12.2%
-3.6%
净利率更高
TYL
高出11.1%
2.1%
自由现金流更多
ARLP
多$11.3M
$2.0M
两年增速更快
TYL
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $613.5M |
| 净利润 | $10.7M | $81.2M |
| 毛利率 | — | 48.3% |
| 营业利润率 | 4.2% | 16.3% |
| 净利率 | 2.1% | 13.2% |
| 营收同比 | -3.6% | 8.6% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $1.88 |
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ARLPTYL
| Q1 26 | $516.0M | $613.5M | ||
| Q4 25 | $535.5M | $575.2M | ||
| Q3 25 | $571.4M | $595.9M | ||
| Q2 25 | $547.5M | $596.1M | ||
| Q1 25 | $540.5M | $565.2M | ||
| Q4 24 | $590.1M | $541.1M | ||
| Q3 24 | $613.6M | $543.3M | ||
| Q2 24 | $593.4M | $541.0M |
净利润ARLPTYL
| Q1 26 | $10.7M | $81.2M | ||
| Q4 25 | $82.7M | $65.5M | ||
| Q3 25 | $95.1M | $84.4M | ||
| Q2 25 | $59.4M | $84.6M | ||
| Q1 25 | $74.0M | $81.1M | ||
| Q4 24 | $16.3M | $65.2M | ||
| Q3 24 | $86.3M | $75.9M | ||
| Q2 24 | $100.2M | $67.7M |
毛利率ARLPTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 44.0% |
营业利润率ARLPTYL
| Q1 26 | 4.2% | 16.3% | ||
| Q4 25 | 18.2% | 13.0% | ||
| Q3 25 | 18.4% | 16.4% | ||
| Q2 25 | 16.2% | 16.0% | ||
| Q1 25 | 17.4% | 15.8% | ||
| Q4 24 | 2.6% | 13.2% | ||
| Q3 24 | 16.5% | 15.2% | ||
| Q2 24 | 19.8% | 14.4% |
净利率ARLPTYL
| Q1 26 | 2.1% | 13.2% | ||
| Q4 25 | 15.4% | 11.4% | ||
| Q3 25 | 16.6% | 14.2% | ||
| Q2 25 | 10.9% | 14.2% | ||
| Q1 25 | 13.7% | 14.3% | ||
| Q4 24 | 2.8% | 12.1% | ||
| Q3 24 | 14.1% | 14.0% | ||
| Q2 24 | 16.9% | 12.5% |
每股收益（稀释后）ARLPTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | — | $1.50 | ||
| Q3 25 | — | $1.93 | ||
| Q2 25 | — | $1.93 | ||
| Q1 25 | — | $1.84 | ||
| Q4 24 | — | $1.48 | ||
| Q3 24 | — | $1.74 | ||
| Q2 24 | — | $1.57 |
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 | $346.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $3.6B |
| 总资产 | $2.9B | $4.8B |
| 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ARLPTYL
| Q1 26 | $28.9M | $346.4M | ||
| Q4 25 | $71.2M | $1.1B | ||
| Q3 25 | $94.5M | $950.8M | ||
| Q2 25 | $55.0M | $892.3M | ||
| Q1 25 | $81.3M | $807.4M | ||
| Q4 24 | $137.0M | $768.0M | ||
| Q3 24 | $195.4M | $544.3M | ||
| Q2 24 | $203.7M | $258.0M |
总债务ARLPTYL
| Q1 26 | — | — | ||
| Q4 25 | — | $599.7M | ||
| Q3 25 | — | $599.2M | ||
| Q2 25 | — | $598.8M | ||
| Q1 25 | — | $598.4M | ||
| Q4 24 | — | $597.9M | ||
| Q3 24 | — | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益ARLPTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.1B |
总资产ARLPTYL
| Q1 26 | $2.9B | $4.8B | ||
| Q4 25 | $2.9B | $5.6B | ||
| Q3 25 | $2.9B | $5.5B | ||
| Q2 25 | $2.9B | $5.4B | ||
| Q1 25 | $2.9B | $5.2B | ||
| Q4 24 | $2.9B | $5.2B | ||
| Q3 24 | $3.0B | $5.0B | ||
| Q2 24 | $3.1B | $4.8B |
负债/权益比ARLPTYL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× |
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 | — | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $2.0M |
| 自由现金流率自由现金流/营收 | 2.6% | 0.3% |
| 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 | — | 1.32× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $585.7M |
8季度趋势，按日历期对齐
经营现金流ARLPTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $143.9M | $243.9M | ||
| Q3 25 | $209.9M | $255.2M | ||
| Q2 25 | $151.7M | $98.3M | ||
| Q1 25 | $145.7M | $56.2M | ||
| Q4 24 | $168.4M | $224.8M | ||
| Q3 24 | $209.3M | $263.7M | ||
| Q2 24 | $215.8M | $64.3M |
自由现金流ARLPTYL
| Q1 26 | $13.3M | $2.0M | ||
| Q4 25 | $99.1M | $239.6M | ||
| Q3 25 | $145.2M | $251.3M | ||
| Q2 25 | $84.7M | $92.8M | ||
| Q1 25 | $58.9M | $53.8M | ||
| Q4 24 | $75.3M | $221.0M | ||
| Q3 24 | $99.0M | $260.8M | ||
| Q2 24 | $114.3M | $57.7M |
自由现金流率ARLPTYL
| Q1 26 | 2.6% | 0.3% | ||
| Q4 25 | 18.5% | 41.7% | ||
| Q3 25 | 25.4% | 42.2% | ||
| Q2 25 | 15.5% | 15.6% | ||
| Q1 25 | 10.9% | 9.5% | ||
| Q4 24 | 12.8% | 40.8% | ||
| Q3 24 | 16.1% | 48.0% | ||
| Q2 24 | 19.3% | 10.7% |
资本支出强度ARLPTYL
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 0.8% | ||
| Q3 25 | 11.3% | 0.7% | ||
| Q2 25 | 12.2% | 0.9% | ||
| Q1 25 | 16.1% | 0.4% | ||
| Q4 24 | 15.8% | 0.7% | ||
| Q3 24 | 18.0% | 0.5% | ||
| Q2 24 | 17.1% | 1.2% |
现金转化率ARLPTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 1.74× | 3.72× | ||
| Q3 25 | 2.21× | 3.02× | ||
| Q2 25 | 2.55× | 1.16× | ||
| Q1 25 | 1.97× | 0.69× | ||
| Q4 24 | 10.31× | 3.45× | ||
| Q3 24 | 2.43× | 3.47× | ||
| Q2 24 | 2.15× | 0.95× |
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
