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ALLIANCE RESOURCE PARTNERS LP（ARLP）与Westrock Coffee Co（WEST）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Westrock Coffee Co的1.5倍（$516.0M vs $339.5M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -6.6%，领先8.7%），Westrock Coffee Co同比增速更快（48.3% vs -3.6%），Westrock Coffee Co自由现金流更多（$27.8M vs $13.3M），过去两年Westrock Coffee Co的营收复合增速更高（32.8% 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。
Westrock Coffee Co是一家全球化综合咖啡及饮品解决方案供应商，业务覆盖咖啡、茶与功能性饮品的采购、烘焙、生产及分销，为北美及全球其他区域的零售、餐饮和商业客户提供定制化产品及配套服务。
ARLP vs WEST — 直观对比
营收规模更大
ARLP
是对方的1.5倍
$339.5M
营收增速更快
WEST
高出51.9%
-3.6%
净利率更高
ARLP
高出8.7%
-6.6%
自由现金流更多
WEST
多$14.5M
$13.3M
两年增速更快
WEST
近两年复合增速
-6.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $516.0M | $339.5M |
| 净利润 | $10.7M | $-22.6M |
| 毛利率 | — | 11.5% |
| 营业利润率 | 4.2% | -2.6% |
| 净利率 | 2.1% | -6.6% |
| 营收同比 | -3.6% | 48.3% |
| 净利润同比 | — | 8.3% |
| 每股收益（稀释后） | — | $-0.22 |
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ARLPWEST
| Q1 26 | $516.0M | — | ||
| Q4 25 | $535.5M | $339.5M | ||
| Q3 25 | $571.4M | $354.8M | ||
| Q2 25 | $547.5M | $280.9M | ||
| Q1 25 | $540.5M | $213.8M | ||
| Q4 24 | $590.1M | $229.0M | ||
| Q3 24 | $613.6M | $220.9M | ||
| Q2 24 | $593.4M | $208.4M |
净利润ARLPWEST
| Q1 26 | $10.7M | — | ||
| Q4 25 | $82.7M | $-22.6M | ||
| Q3 25 | $95.1M | $-19.1M | ||
| Q2 25 | $59.4M | $-21.6M | ||
| Q1 25 | $74.0M | $-27.2M | ||
| Q4 24 | $16.3M | $-24.6M | ||
| Q3 24 | $86.3M | $-14.3M | ||
| Q2 24 | $100.2M | $-17.8M |
毛利率ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | — | 11.5% | ||
| Q3 25 | — | 11.7% | ||
| Q2 25 | — | 14.7% | ||
| Q1 25 | — | 13.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 19.9% |
营业利润率ARLPWEST
| Q1 26 | 4.2% | — | ||
| Q4 25 | 18.2% | -2.6% | ||
| Q3 25 | 18.4% | -2.4% | ||
| Q2 25 | 16.2% | -5.3% | ||
| Q1 25 | 17.4% | -6.1% | ||
| Q4 24 | 2.6% | -4.3% | ||
| Q3 24 | 16.5% | -5.8% | ||
| Q2 24 | 19.8% | -7.9% |
净利率ARLPWEST
| Q1 26 | 2.1% | — | ||
| Q4 25 | 15.4% | -6.6% | ||
| Q3 25 | 16.6% | -5.4% | ||
| Q2 25 | 10.9% | -7.7% | ||
| Q1 25 | 13.7% | -12.7% | ||
| Q4 24 | 2.8% | -10.7% | ||
| Q3 24 | 14.1% | -6.5% | ||
| Q2 24 | 16.9% | -8.5% |
每股收益（稀释后）ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.22 | ||
| Q3 25 | — | $-0.20 | ||
| Q2 25 | — | $-0.23 | ||
| Q1 25 | — | $-0.29 | ||
| Q4 24 | — | $-0.26 | ||
| Q3 24 | — | $-0.16 | ||
| Q2 24 | — | $-0.20 |
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 | $49.9M |
| 总债务越低越好 | — | $444.1M |
| 股东权益账面价值 | — | $-1.9M |
| 总资产 | $2.9B | $1.2B |
| 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ARLPWEST
| Q1 26 | $28.9M | — | ||
| Q4 25 | $71.2M | $49.9M | ||
| Q3 25 | $94.5M | $34.0M | ||
| Q2 25 | $55.0M | $44.0M | ||
| Q1 25 | $81.3M | $33.1M | ||
| Q4 24 | $137.0M | $26.2M | ||
| Q3 24 | $195.4M | $22.4M | ||
| Q2 24 | $203.7M | $24.3M |
总债务ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | — | $444.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $393.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $18.2M | ||
| Q1 25 | — | $71.4M | ||
| Q4 24 | — | $97.5M | ||
| Q3 24 | — | $110.3M | ||
| Q2 24 | — | $81.5M |
总资产ARLPWEST
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $2.9B | $1.2B | ||
| Q1 25 | $2.9B | $1.1B | ||
| Q4 24 | $2.9B | $1.1B | ||
| Q3 24 | $3.0B | $1.1B | ||
| Q2 24 | $3.1B | $1.1B |
负债/权益比ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.03× | ||
| 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 | — | $36.7M |
| 自由现金流经营现金流 - 资本支出 | $13.3M | $27.8M |
| 自由现金流率自由现金流/营收 | 2.6% | 8.2% |
| 资本支出强度资本支出/营收 | 18.5% | 2.6% |
| 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 | $-107.8M |
8季度趋势，按日历期对齐
经营现金流ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | $143.9M | $36.7M | ||
| Q3 25 | $209.9M | $-26.6M | ||
| Q2 25 | $151.7M | $-7.0M | ||
| Q1 25 | $145.7M | $-22.1M | ||
| Q4 24 | $168.4M | $2.8M | ||
| Q3 24 | $209.3M | $-332.0K | ||
| Q2 24 | $215.8M | $-23.7M |
自由现金流ARLPWEST
| Q1 26 | $13.3M | — | ||
| Q4 25 | $99.1M | $27.8M | ||
| Q3 25 | $145.2M | $-44.7M | ||
| Q2 25 | $84.7M | $-27.5M | ||
| Q1 25 | $58.9M | $-63.4M | ||
| Q4 24 | $75.3M | $-15.4M | ||
| Q3 24 | $99.0M | $-36.7M | ||
| Q2 24 | $114.3M | $-59.9M |
自由现金流率ARLPWEST
| Q1 26 | 2.6% | — | ||
| Q4 25 | 18.5% | 8.2% | ||
| Q3 25 | 25.4% | -12.6% | ||
| Q2 25 | 15.5% | -9.8% | ||
| Q1 25 | 10.9% | -29.7% | ||
| Q4 24 | 12.8% | -6.7% | ||
| Q3 24 | 16.1% | -16.6% | ||
| Q2 24 | 19.3% | -28.7% |
资本支出强度ARLPWEST
| Q1 26 | 18.5% | — | ||
| Q4 25 | 8.4% | 2.6% | ||
| Q3 25 | 11.3% | 5.1% | ||
| Q2 25 | 12.2% | 7.3% | ||
| Q1 25 | 16.1% | 19.3% | ||
| Q4 24 | 15.8% | 7.9% | ||
| Q3 24 | 18.0% | 16.5% | ||
| Q2 24 | 17.1% | 17.4% |
现金转化率ARLPWEST
| Q1 26 | — | — | ||
| Q4 25 | 1.74× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.55× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 10.31× | — | ||
| Q3 24 | 2.43× | — | ||
| Q2 24 | 2.15× | — |
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% |
WEST
| Coffee And Tea | $202.6M | 60% |
| Flavors Extracts And Ingredients | $69.6M | 21% |
| Sustainable Sourcing And Traceability Segments | $66.9M | 20% |
