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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是ALLIANCE RESOURCE PARTNERS LP的1.6倍（$814.9M vs $516.0M），Ubiquiti Inc.净利率更高（28.7% vs 2.1%，领先26.6%），Ubiquiti Inc.同比增速更快（35.8% vs -3.6%），Ubiquiti Inc.自由现金流更多（$260.3M vs $13.3M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
ARLP vs UI — 直观对比
营收规模更大
UI
是对方的1.6倍
$516.0M
营收增速更快
UI
高出39.5%
-3.6%
净利率更高
UI
高出26.6%
2.1%
自由现金流更多
UI
多$247.0M
$13.3M
两年增速更快
UI
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $814.9M |
| 净利润 | $10.7M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 4.2% | 35.9% |
| 净利率 | 2.1% | 28.7% |
| 营收同比 | -3.6% | 35.8% |
| 净利润同比 | — | 70.8% |
| 每股收益（稀释后） | — | $3.86 |
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ARLPUI
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $814.9M | ||
| Q3 25 | $571.4M | $733.8M | ||
| Q2 25 | $547.5M | $759.2M | ||
| Q1 25 | $540.5M | $664.2M | ||
| Q4 24 | $590.1M | $599.9M | ||
| Q3 24 | $613.6M | $550.3M | ||
| Q2 24 | $593.4M | $507.5M |
净利润ARLPUI
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $233.6M | ||
| Q3 25 | $95.1M | $207.9M | ||
| Q2 25 | $59.4M | $266.7M | ||
| Q1 25 | $74.0M | $180.4M | ||
| Q4 24 | $16.3M | $136.8M | ||
| Q3 24 | $86.3M | $128.0M | ||
| Q2 24 | $100.2M | $103.8M |
毛利率ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% |
营业利润率ARLPUI
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | 35.9% | ||
| Q3 25 | 18.4% | 35.7% | ||
| Q2 25 | 16.2% | 34.4% | ||
| Q1 25 | 17.4% | 34.2% | ||
| Q4 24 | 2.6% | 29.8% | ||
| Q3 24 | 16.5% | 30.7% | ||
| Q2 24 | 19.8% | 27.3% |
净利率ARLPUI
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | 28.7% | ||
| Q3 25 | 16.6% | 28.3% | ||
| Q2 25 | 10.9% | 35.1% | ||
| Q1 25 | 13.7% | 27.2% | ||
| Q4 24 | 2.8% | 22.8% | ||
| Q3 24 | 14.1% | 23.3% | ||
| Q2 24 | 16.9% | 20.5% |
每股收益（稀释后）ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | — | $3.86 | ||
| Q3 25 | — | $3.43 | ||
| Q2 25 | — | $4.40 | ||
| Q1 25 | — | $2.98 | ||
| Q4 24 | — | $2.26 | ||
| Q3 24 | — | $2.12 | ||
| Q2 24 | — | $1.72 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | — | $1.0B |
| 总资产 | $2.9B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资ARLPUI
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $302.8M | ||
| Q3 25 | $94.5M | $177.2M | ||
| Q2 25 | $55.0M | $149.7M | ||
| Q1 25 | $81.3M | $151.0M | ||
| Q4 24 | $137.0M | $133.1M | ||
| Q3 24 | $195.4M | $165.2M | ||
| Q2 24 | $203.7M | $126.3M |
总债务ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M |
股东权益ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $828.4M | ||
| Q2 25 | — | $668.3M | ||
| Q1 25 | — | $436.1M | ||
| Q4 24 | — | $290.4M | ||
| Q3 24 | — | $188.1M | ||
| Q2 24 | — | $95.1M |
总资产ARLPUI
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.6B | ||
| Q3 25 | $2.9B | $1.5B | ||
| Q2 25 | $2.9B | $1.5B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $3.0B | $1.2B | ||
| Q2 24 | $3.1B | $1.2B |
负债/权益比ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× |
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 | — | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $260.3M |
| 自由现金流率自由现金流/营收 | 2.6% | 31.9% |
| 资本支出强度资本支出/营收 | 18.5% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $342.2M | $699.5M |
8季度趋势，按日历期对齐
经营现金流ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $263.9M | ||
| Q3 25 | $209.9M | $198.5M | ||
| Q2 25 | $151.7M | $130.4M | ||
| Q1 25 | $145.7M | $123.6M | ||
| Q4 24 | $168.4M | $152.4M | ||
| Q3 24 | $209.3M | $233.7M | ||
| Q2 24 | $215.8M | $231.4M |
自由现金流ARLPUI
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $260.3M | ||
| Q3 25 | $145.2M | $193.3M | ||
| Q2 25 | $84.7M | $125.2M | ||
| Q1 25 | $58.9M | $120.7M | ||
| Q4 24 | $75.3M | $150.4M | ||
| Q3 24 | $99.0M | $231.1M | ||
| Q2 24 | $114.3M | $229.5M |
自由现金流率ARLPUI
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 31.9% | ||
| Q3 25 | 25.4% | 26.3% | ||
| Q2 25 | 15.5% | 16.5% | ||
| Q1 25 | 10.9% | 18.2% | ||
| Q4 24 | 12.8% | 25.1% | ||
| Q3 24 | 16.1% | 42.0% | ||
| Q2 24 | 19.3% | 45.2% |
资本支出强度ARLPUI
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 0.4% | ||
| Q3 25 | 11.3% | 0.7% | ||
| Q2 25 | 12.2% | 0.7% | ||
| Q1 25 | 16.1% | 0.4% | ||
| Q4 24 | 15.8% | 0.3% | ||
| Q3 24 | 18.0% | 0.5% | ||
| Q2 24 | 17.1% | 0.4% |
现金转化率ARLPUI
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | 1.13× | ||
| Q3 25 | 2.21× | 0.95× | ||
| Q2 25 | 2.55× | 0.49× | ||
| Q1 25 | 1.97× | 0.68× | ||
| Q4 24 | 10.31× | 1.11× | ||
| Q3 24 | 2.43× | 1.83× | ||
| Q2 24 | 2.15× | 2.23× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
