ALLIANCE RESOURCE PARTNERS LP ARLP
We are a diversified natural resource company that generates operating and royalty income from the production and marketing of coal to major domestic utilities, industrial users and international customers, as well as royalty income from oil & gas mineral interests located in key producing regions across the United States. Our core objective is to maximize the value of our mineral asset base—both through coal production from our mining operations and through the leasing and development of our coal and oil & gas mineral interests. Our strategy is to provide reliable, baseload fuel for electricity generating customers while positioning the Partnership for long-term growth through investments in energy and related infrastructure. Leveraging our relationships with electric utilities, industrial customers, and government partners, we intend to pursue strategic opportunities that complement our operational strengths. We believe our diverse resource portfolio and targeted investments will continue to create long-term value for our unitholders.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.19B | $2.45B | $2.57B | $2.42B | $1.58B | $1.33B | $1.96B | $2.00B | $1.80B | $1.93B |
| SG&A | $83.1M | $82.2M | $79.1M | $80.4M | $70.3M | $59.8M | $73.0M | $68.3M | $61.8M | $72.5M |
| Total operating expenses | $1.81B | $2.05B | $1.89B | $1.75B | $1.36B | $1.41B | $1.70B | $1.63B | $1.46B | $1.56B |
| Operating income | $385.3M | $394.1M | $672.4M | $667.4M | $223.8M | -$82.9M | $259.5M | $372.3M | $331.9M | $368.1M |
| Interest expense | $39.7M | $35.2M | $36.1M | $37.3M | $39.2M | $45.6M | $45.9M | $40.2M | $39.4M | $30.7M |
| Pre-tax income | $336.0M | $381.5M | $644.5M | $642.1M | $183.8M | -$129.0M | $406.7M | $367.5M | $304.4M | $339.6M |
| Income tax | $18.8M | $15.9M | $8.3M | $54.0M | $417.0K | $35.0K | $211.0K | $22.0K | $210.0K | $13.0K |
| Net income | $311.2M | $360.9M | $630.1M | $586.2M | $182.8M | -$129.2M | $399.4M | $366.6M | $303.6M | $339.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $71.2M | $137.0M | $59.8M | $296.0M | $122.4M | $55.6M | $36.5M | $244.2M | $6.8M | $39.8M |
| Receivables | $129.7M | $166.8M | $282.6M | $241.4M | $129.5M | $104.6M | $161.7M | $174.9M | $181.7M | $152.0M |
| Inventory | $142.6M | $120.7M | $127.6M | $77.3M | $60.3M | $56.4M | $101.3M | $59.2M | $60.3M | $61.1M |
| Total current assets | $430.1M | $513.2M | $516.1M | $657.6M | $339.2M | $245.8M | $319.6M | $500.7M | $281.6M | $276.7M |
| Property, plant and equipment | — | — | — | — | — | — | $2.01B | $1.41B | $1.48B | $1.59B |
| Goodwill | — | — | — | — | $4.4M | $4.4M | $136.4M | $136.4M | $136.4M | $136.4M |
| Other intangibles | — | — | — | $1.0M | $2.2M | $6.0M | $9.7M | $9.3M | $16.1M | $26.6M |
| Total assets | $2.85B | $2.92B | $2.79B | $2.73B | $2.23B | $2.17B | $2.59B | $2.39B | $2.22B | $2.19B |
| Accounts payable | $81.8M | $98.2M | $108.3M | $95.1M | $69.6M | $47.5M | $80.6M | $96.4M | $97.0M | $64.1M |
| Short-term debt | $23.6M | $22.3M | $20.3M | $25.0M | $16.1M | $73.2M | $13.2M | $92.0M | $72.4M | $149.9M |
| Total current liabilities | $204.4M | $233.1M | $227.5M | $255.6M | $177.6M | $214.6M | $195.6M | $330.9M | $289.6M | $326.9M |
| Long-term debt | $427.1M | $450.9M | $316.8M | $397.2M | $418.9M | $519.4M | $768.2M | $564.0M | $415.9M | $399.4M |
| Total liabilities | $993.6M | $1.06B | $929.8M | $1.02B | $933.3M | $1.09B | $1.32B | $1.21B | $1.07B | $1.10B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $651.1M | $803.1M | $824.2M | $802.3M | $432.2M | $400.6M | $514.9M | $694.3M | $556.1M | $703.5M |
| Depreciation and amortisation | $299.4M | $285.4M | $268.0M | $276.7M | $264.8M | $313.4M | $309.1M | $280.2M | $269.0M | $336.5M |
| Stock-based compensation | $8.9M | $10.6M | $12.9M | $11.0M | $5.7M | $3.3M | $11.9M | $12.1M | $12.3M | $13.9M |
| Capital expenditure | $263.3M | $428.7M | $379.3M | $286.4M | $123.0M | $121.1M | $305.9M | $233.5M | $145.1M | $91.1M |
| Investing cash flow | -$331.3M | -$440.7M | -$553.3M | -$403.3M | -$142.7M | -$125.1M | -$488.1M | -$245.2M | -$244.8M | -$191.8M |
| Financing cash flow | -$385.7M | -$285.3M | -$507.1M | -$225.4M | -$222.7M | -$256.4M | -$234.4M | -$211.7M | -$344.4M | -$505.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-020468.
Others in SIC 1221
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BTU | PEABODY ENERGY CORP | $3.52B | — | -8.9% |
| AMR | Alpha Metallurgical Resources, Inc. | $2.86B | — | -28.0% |
| NRP | NATURAL RESOURCE PARTNERS LP | $1.51B | — | — |
| NC | NACCO INDUSTRIES INC | $316.2M | 17.8x | 16.6% |