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Alliance Resource Partners, L.P. (ARLP) 10-Year Financial Performance & Capital Metrics

ARLP • • Industrial / General
EnergyCoalDiversified Coal & MineralsIntegrated Coal & Minerals
AboutAlliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties. It produces a range of thermal and metallurgical coal with sulfur and heat contents. The company operates seven underground mining complexes in Illinois, Indiana, Kentucky, Maryland, Pennsylvania, and West Virginia. In addition, it leases land and operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana; and buys and resells coal, as well as owns mineral and royalty interests in approximately 1.5 million gross acres of oil and gas producing regions primarily in the Permian, Anadarko, and Williston Basins. Further, the company offers various mining technology products and services, including data network, communication and tracking systems, mining proximity detection systems, industrial collision avoidance systems, and data and analytics software. As of December 31, 2021, it had approximately 547.1 million tons of proven and probable coal mineral reserves, as well as 1.17 billion tons of measured, indicated, and inferred coal mineral resources in Illinois, Indiana, Kentucky, Maryland, Pennsylvania, and West Virginia. The company was founded in 1971 and is headquartered in Tulsa, Oklahoma.Show more
  • Revenue $2.45B -4.6%
  • EBITDA $711M -24.4%
  • Net Income $361M -42.7%
  • EPS (Diluted) 2.77 -42.4%
  • Gross Margin 20.72% -29.2%
  • EBITDA Margin 29.02% -20.8%
  • Operating Margin 17.37% -33.7%
  • Net Margin 14.74% -40.0%
  • ROE 19.44% -45.0%
  • ROIC 14.65% -41.9%
  • Debt/Equity 0.26 +39.1%
  • Interest Coverage 12.07 -35.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 31.6%
  • ✓FCF machine: 15.3% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy 5Y average net margin of 13.1%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.63%
5Y4.53%
3Y15.97%
TTM-9.45%

Profit (Net Income) CAGR

10Y0.21%
5Y-2.01%
3Y25.45%
TTM-46.77%

EPS CAGR

10Y-5.29%
5Y-2.04%
3Y26.76%
TTM-46.02%

ROCE

10Y Avg17.72%
5Y Avg17.43%
3Y Avg24.2%
Latest16.22%

Peer Comparison

Integrated Coal & Minerals
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BTUPeabody Energy Corporation4.38B36.0613.36-14.35%-0.83%-0.91%4.65%0.13
NRPNatural Resource Partners L.P.1.54B117.3710.34-16.56%67.92%24.13%16.11%0.26
NCNACCO Industries, Inc.274.03M46.4710.2110.67%10.32%6.8%0.27
CNRCore Natural Resources, Inc.5.02B98.0210.16-14.28%-1.18%-1.15%5.94%0.14
ARLPAlliance Resource Partners, L.P.3.12B24.338.78-4.6%10.88%13.37%11.98%0.26

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.27B1.93B1.8B2B1.96B1.33B1.57B2.42B2.57B2.45B
Revenue Growth %-0.01%-0.15%-0.07%0.12%-0.02%-0.32%0.18%0.54%0.06%-0.05%
Cost of Goods Sold+1.74B1.49B1.4B1.6B1.61B1.19B1.28B1.68B1.82B1.94B
COGS % of Revenue0.77%0.77%0.78%0.8%0.82%0.9%0.82%0.69%0.71%0.79%
Gross Profit+529.04M438.47M393.68M401.07M347.69M133.96M289.36M741.2M751.49M507.48M
Gross Margin %0.23%0.23%0.22%0.2%0.18%0.1%0.18%0.31%0.29%0.21%
Gross Profit Growth %-0.14%-0.17%-0.1%0.02%-0.13%-0.61%1.16%1.56%0.01%-0.32%
Operating Expenses+67.48M72.53M61.76M68.3M73M59.81M70.16M80.42M79.1M82.22M
OpEx % of Revenue0.03%0.04%0.03%0.03%0.04%0.05%0.04%0.03%0.03%0.03%
Selling, General & Admin67.48M72.53M61.76M68.3M73M59.81M70.16M80.42M79.1M82.22M
SG&A % of Revenue0.03%0.04%0.03%0.03%0.04%0.05%0.04%0.03%0.03%0.03%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000000
Operating Income+461.56M365.94M331.92M332.77M274.69M74.15M219.2M660.78M672.4M425.26M
Operating Margin %0.2%0.19%0.18%0.17%0.14%0.06%0.14%0.27%0.26%0.17%
Operating Income Growth %-0.15%-0.21%-0.09%0%-0.17%-0.73%1.96%2.01%0.02%-0.37%
EBITDA+795.27M688.45M600.9M613M587.85M391.57M484.27M937.45M940.38M710.71M
EBITDA Margin %0.35%0.36%0.33%0.31%0.3%0.29%0.31%0.39%0.37%0.29%
EBITDA Growth %-0.03%-0.13%-0.13%0.02%-0.04%-0.33%0.24%0.94%0%-0.24%
D&A (Non-Cash Add-back)333.71M322.51M268.98M280.23M313.16M317.42M265.06M276.67M267.98M285.45M
EBIT337.35M370.22M343.8M407.71M452.59M-83.4M218.4M679.47M680.54M416.72M
Net Interest Income+-29.69M-30.66M-39.29M-40.06M-45.5M-45.48M-39.14M-35.3M-26.7M-28.01M
Interest Income1.46M10K94K159K379K135K88K2.04M9.39M7.22M
Interest Expense31.15M30.67M39.38M40.22M45.88M45.61M39.23M37.33M36.09M35.23M
Other Income/Expense-155.37M-26.39M-27.51M34.72M132.03M-203.17M-35.42M-18.64M-27.95M-43.77M
Pretax Income+306.19M339.55M304.41M367.49M406.71M-129.02M183.79M642.14M644.45M381.49M
Pretax Margin %0.13%0.18%0.17%0.18%0.21%-0.1%0.12%0.27%0.25%0.16%
Income Tax+21K13K210K22K-211K35K417K53.98M8.28M15.94M
Effective Tax Rate %0.51%0.74%1%1%0.98%1%0.99%0.91%0.98%0.95%
Net Income+156.37M251.81M303.64M366.6M399.41M-129.05M182.77M586.2M630.12M360.86M
Net Margin %0.07%0.13%0.17%0.18%0.2%-0.1%0.12%0.24%0.25%0.15%
Net Income Growth %-0.56%0.61%0.21%0.21%0.09%-1.32%2.42%2.21%0.07%-0.43%
Net Income (Continuing)306.17M339.54M304.2M367.47M406.93M-129.05M183.37M588.16M636.17M365.56M
Discontinued Operations0000000000
Minority Interest2.58M5.55M5.35M5.29M11.94M11.38M11.12M93.06M24.09M20.79M
EPS (Diluted)+2.113.392.802.803.07-1.011.364.394.812.77
EPS Growth %-0.56%0.61%-0.17%0%0.1%-1.33%2.35%2.23%0.1%-0.42%
EPS (Basic)2.113.392.802.803.07-1.011.364.394.812.77
Diluted Shares Outstanding74.17M74.35M98.71M130.76M128.12M127.16M127.2M127.2M127.18M127.96M
Basic Shares Outstanding74.17M74.35M98.71M130.76M128.12M127.16M127.2M127.2M127.18M127.96M
Dividend Payout Ratio2.22%0.98%0.79%0.75%0.7%-0.29%0.33%0.58%1.01%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+314.9M276.67M281.64M500.69M319.58M245.77M339.23M654.79M516.12M513.23M
Cash & Short-Term Investments33.43M39.78M6.76M244.15M36.48M55.57M122.4M296.02M59.81M136.96M
Cash Only33.43M39.78M6.76M244.15M36.48M55.57M122.4M296.02M59.81M136.96M
Short-Term Investments0000000000
Accounts Receivable123.76M152.58M181.98M175.31M161.94M108.06M130.21M250.01M292.3M176.99M
Days Sales Outstanding19.8728.8336.9831.9530.1329.730.2737.7141.5726.38
Inventory121.08M61.05M60.27M59.21M101.31M56.41M60.3M77.33M127.56M120.66M
Days Inventory Outstanding25.3314.9315.6913.4922.9117.2417.1916.8125.6522.69
Other Current Assets29.81M22.05M28.12M1.67M18.02M21.57M21.35M26.68M28.67M67.2M
Total Non-Current Assets+2.05B1.92B1.94B1.89B2.27B1.92B1.82B2.07B2.27B2.4B
Property, Plant & Equipment1.8B1.59B1.48B1.41B1.41B1.2B1.06B1.08B1.19B1.3B
Fixed Asset Turnover1.26x1.22x1.22x1.42x1.39x1.11x1.47x2.24x2.16x1.88x
Goodwill136.4M136.4M136.4M136.4M136.4M4.37M4.37M000
Intangible Assets0000000000
Long-Term Investments64.51M138.82M263.36M291.5M654.51M651.27M679.89M910.14M996.49M1.01B
Other Non-Current Assets45.2M55.31M61.31M53.8M67.83M66.25M70.94M79.34M89.93M88.59M
Total Assets+2.36B2.19B2.22B2.39B2.59B2.17B2.16B2.73B2.79B2.92B
Asset Turnover0.96x0.88x0.81x0.84x0.76x0.61x0.73x0.89x0.92x0.84x
Asset Growth %0.03%-0.07%0.01%0.08%0.08%-0.16%-0%0.26%0.02%0.05%
Total Current Liabilities+423.08M326.87M289.63M330.87M195.59M214.6M177.58M255.57M227.47M233.14M
Accounts Payable83.6M64.06M96.96M96.4M80.57M47.51M69.59M95.12M108.27M98.19M
Days Payables Outstanding17.4915.6625.2321.9718.2214.5219.8320.6821.7718.46
Short-Term Debt258.78M177.07M101.01M138.72M24.78M75.82M18.73M24.97M20.34M22.27M
Deferred Revenue (Current)0000000000
Other Current Liabilities43.67M44.17M55.91M52.64M53.67M62.75M52.45M95.86M68.98M85.73M
Current Ratio0.74x0.85x0.97x1.51x1.63x1.15x1.91x2.56x2.27x2.20x
Quick Ratio0.46x0.66x0.76x1.33x1.12x0.88x1.57x2.26x1.71x1.68x
Cash Conversion Cycle27.7128.127.4323.4734.8232.4227.6333.8445.4530.61
Total Non-Current Liabilities+948.84M772.75M778.25M876.19M1.13B879.14M755.76M764.42M702.36M829.05M
Long-Term Debt578.49M399.45M415.94M564M768.19M519.42M418.94M397.2M316.82M450.88M
Capital Lease Obligations80.15M85.54M57.09M10.6M16.54M14.54M12.37M12.13M13.66M13.64M
Deferred Tax Liabilities000000391K35.81M33.45M29.35M
Other Non-Current Liabilities290.2M287.76M305.22M301.59M340.95M345.19M323.83M319.27M338.43M335.18M
Total Liabilities1.37B1.1B1.07B1.21B1.32B1.09B933.34M1.02B929.83M1.06B
Total Debt+919.26M662.06M574.04M713.32M809.51M609.78M450.66M434.31M350.82M486.8M
Net Debt885.83M622.27M567.28M469.17M773.03M554.2M328.25M138.28M291.01M349.84M
Debt / Equity0.93x0.61x0.50x0.60x0.64x0.57x0.37x0.25x0.19x0.26x
Debt / EBITDA1.16x0.96x0.96x1.16x1.38x1.56x0.93x0.46x0.37x0.68x
Net Debt / EBITDA1.11x0.90x0.94x0.77x1.32x1.42x0.68x0.15x0.31x0.49x
Interest Coverage14.82x11.93x8.43x8.27x5.99x1.63x5.59x17.70x18.63x12.07x
Total Equity+989.36M1.09B1.15B1.19B1.27B1.07B1.23B1.71B1.86B1.85B
Equity Growth %-0.03%0.11%0.05%0.03%0.07%-0.15%0.14%0.39%0.09%-0%
Book Value per Share13.3414.7111.679.089.888.439.6413.4314.6114.48
Total Shareholders' Equity986.78M1.09B1.15B1.18B1.25B1.06B1.21B1.61B1.83B1.83B
Common Stock1.28B1.4B1.18B1.23B1.33B1.15B1.28B1.66B1.9B1.87B
Retained Earnings0-273.79M14.86M0000000
Treasury Stock0000000000
Accumulated OCI-34.56M-38.54M-51.94M-46.87M-77.99M-87.67M-64.23M-41.05M-61.52M-35.1M
Minority Interest2.58M5.55M5.35M5.29M11.94M11.38M11.12M93.06M24.09M20.79M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+716.34M703.54M567.58M696.82M517.4M401.63M426.14M802.35M830.64M803.13M
Operating CF Margin %0.32%0.36%0.32%0.35%0.26%0.3%0.27%0.33%0.32%0.33%
Operating CF Growth %-0.03%-0.02%-0.19%0.23%-0.26%-0.22%0.06%0.88%0.04%-0.03%
Net Income156.37M251.81M276.37M358.29M392.92M-129.22M173.42M558.09M611.84M354.85M
Depreciation & Amortization333.71M322.51M268.98M280.23M313.16M317.42M265.06M276.67M267.98M285.45M
Stock-Based Compensation0000000000
Deferred Taxes1.56M-1.36M-3.34M-1.56M-413K1.15M-834K34.77M-8.97M-2.19M
Other Non-Cash Items300.59M105.06M63.21M55.6M-134.93M165.53M5.68M43.11M82.55M72.19M
Working Capital Changes-75.89M25.53M-37.64M4.26M-53.35M46.75M-17.18M-110.3M-122.76M92.83M
Change in Receivables64.83M-28.74M-29.51M6.51M24.57M52.95M-21.84M-116.81M-42.29M114.59M
Change in Inventory-31.63M58.95M-1.45M-747K-35.08M30.52M-4.67M-20.14M-78M-22.24M
Change in Payables-41.53M-15.14M25.5M-813K-17.67M-24.28M19.48M14.58M17.84M-19.22M
Cash from Investing+-352.17M-187.73M-254.88M-247.68M-490.62M-126.11M-143.63M-403.34M-559.73M-440.66M
Capital Expenditures-215.82M-118.46M-145.09M-233.48M-305.94M-121.1M-153.94M-286.39M-468.56M-453.47M
CapEx % of Revenue0.09%0.06%0.08%0.12%0.16%0.09%0.1%0.12%0.18%0.19%
Acquisitions----------
Investments----------
Other Investing4.63M3.31M7.4M-1.05M0-8.77M2.59M34.29M-28.34M14.08M
Cash from Financing+-355.34M-509.47M-345.73M-211.74M-234.45M-256.43M-215.69M-225.39M-507.12M-285.32M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-346.8M-247.91M-240.81M-275.9M-278.43M-51.75M-52.16M-196.35M-364.58M-363.43M
Share Repurchases----------
Other Financing-8.83M-1.52M-5.61M-484K-8.68M-4.53M-1.95M-12.97M-31.31M-37.7M
Net Change in Cash----------
Free Cash Flow+500.52M608.09M422.49M463.34M211.46M280.53M272.2M515.96M362.08M374.39M
FCF Margin %0.22%0.31%0.24%0.23%0.11%0.21%0.17%0.21%0.14%0.15%
FCF Growth %0.17%0.21%-0.31%0.1%-0.54%0.33%-0.03%0.9%-0.3%0.03%
FCF per Share6.758.184.283.541.652.212.144.062.852.93
FCF Conversion (FCF/Net Income)4.58x2.79x1.87x1.90x1.30x-3.11x2.33x1.37x1.32x2.23x
Interest Paid0000036.4M36.4M34.84M37.13M0
Taxes Paid0000012K11K23.79M13.62M0

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)15.6%24.18%27.05%31.34%32.56%-11.04%15.9%39.96%35.33%19.44%
Return on Invested Capital (ROIC)18.69%15.29%14.5%14.79%11.15%3.03%10.34%29.15%25.24%14.65%
Gross Margin23.27%22.7%21.92%20.02%17.72%10.09%18.43%30.63%29.28%20.72%
Net Margin6.88%13.04%16.9%18.3%20.36%-9.72%11.64%24.22%24.55%14.74%
Debt / Equity0.93x0.61x0.50x0.60x0.64x0.57x0.37x0.25x0.19x0.26x
Interest Coverage14.82x11.93x8.43x8.27x5.99x1.63x5.59x17.70x18.63x12.07x
FCF Conversion4.58x2.79x1.87x1.90x1.30x-3.11x2.33x1.37x1.32x2.23x
Revenue Growth-1.17%-15.05%-7%11.5%-2.05%-32.3%18.21%54.14%6.06%-4.6%

Revenue by Segment

2015201620172018201920202021202220232024
Coal Products and Services Revenue---------2.11B
Coal Products and Services Revenue Growth----------
Royalty---------138.31M
Royalty Growth----------
Shipping and Handling---------112.59M
Shipping and Handling Growth----------
Product and Service, Other---------86M
Product and Service, Other Growth----------
Coal Royalties------51.47M60.68M--69.68M
Coal Royalties Growth-------17.89%--
Coal sales--------2.21B-
Coal sales Growth----------
Transportation--------142.29M-
Transportation Growth----------
Oil & gas royalties--------137.75M-
Oil & gas royalties Growth----------
Other revenues--------76.45M-
Other revenues Growth----------
Coal royalties---------65.57M-
Coal royalties Growth----------
Illinois Basin------1.46B2.55B--
Illinois Basin Growth-------74.94%--
Oil & Gas Royalties------77.19M141.44M--
Oil & Gas Royalties Growth-------83.25%--
Other, Corporate and Elimination-------23.82M-20M--
Other, Corporate and Elimination Growth-------16.01%--
Illinois Basin343.48M1.28B1.06B-1.33B1.24B----
Illinois Basin Growth-271.36%-16.95%---7.11%----
Royalty Revenues----53.04M43.14M----
Royalty Revenues Growth------18.66%----
Corporate And Other181.04M114.8M113.12M-56.85M25.12M----
Corporate And Other Growth--36.59%-1.47%---55.81%----
Coal Products And Services Revenue---1.84B------
Coal Products And Services Revenue Growth----------
Shipping And Handling---112.39M------
Shipping And Handling Growth----------
Product And Service Other---45.66M------
Product And Service Other Growth----------

Frequently Asked Questions

Valuation & Price

Alliance Resource Partners, L.P. (ARLP) has a price-to-earnings (P/E) ratio of 8.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Alliance Resource Partners, L.P. (ARLP) reported $2.25B in revenue for fiscal year 2024. This represents a 22% increase from $1.84B in 2011.

Alliance Resource Partners, L.P. (ARLP) saw revenue decline by 4.6% over the past year.

Yes, Alliance Resource Partners, L.P. (ARLP) is profitable, generating $244.8M in net income for fiscal year 2024 (14.7% net margin).

Dividend & Returns

Yes, Alliance Resource Partners, L.P. (ARLP) pays a dividend with a yield of 11.67%. This makes it attractive for income-focused investors.

Alliance Resource Partners, L.P. (ARLP) has a return on equity (ROE) of 19.4%. This is reasonable for most industries.

Alliance Resource Partners, L.P. (ARLP) generated $364.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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