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Alliance Resource Partners (ARLP) USD

Alliance Resource Partners, L.P. produces and markets coal to electric utilities and industrial users in the United States, and also owns oil and gas mineral interests and provides mining technology products and services.

At a glance: strengths & risks
✓Profit growing (+34% y/y, Q2 2026)✓Margins improving (30%→34%, Q2 2026)✓Low leverage (0.6x EBITDA)✗Pricier than own history (EV/EBITDA 5.9 vs avg 4.5)

Sector: Coal

Geography: USA

COMM_ARLP

Price chart

26.14 USDDay 1.12%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
26.14 USD · 1.12%
Market cap
3.4 bn USD

Growth

Δ revenue y/y
0.7%
Δ EBITDA y/y
12.5%

Multiples

P/E (LTM)
12.6x
3y avg: 7.8x
P/B (FY)
1.8x
P/E (ann.)
10.6x
EV/EBITDA (LTM)
5.9x
3y avg: 4.5x
EV/EBITDA (ann.)
5.2x

Cash return

Dividend yield
9.2%
FCF yield (LTM)
10.4%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-12.9%
↓ details

Liquidity

Daily turnover (listing)
8.1 mln USD

Shares: verified/sec_10q_units_reconciled

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK551.6
y/y 0.7%
95.6
y/y 7.7%
90.1
y/y 18.0%
185.7
y/y 12.5%
79.6
y/y 33.9%
153.0-50.02941.8
y/y 2.5%
1786.4
y/y -1.4%
17.8%479.7Yahoo Finance
2026-03-31Q1 2026 (3M)OK516.0
y/y -4.5%
21.9
y/y -76.8%
82.4
y/y 20.0%
104.2
y/y -36.0%
9.1
y/y -87.7%
105.5-95.72855.7
y/y -1.6%
1782.3
y/y -2.7%
2.0%478.9Link
2025-12-31Q4 2025 (3M)OK535.5
y/y -9.2%
97.3
y/y 534.3%
76.3
y/y -5.2%
173.6
y/y 81.2%
82.7
y/y 406.2%
143.9-44.82853.8
y/y -2.1%
1860.2
y/y 0.4%
16.9%394.2Link
2025-09-30Q3 2025 (3M)OK571.4
y/y -6.9%
105.0
y/y 3.9%
78.2
y/y 7.2%
183.2
y/y 5.3%
95.1
y/y 10.2%
209.9-64.72908.3
y/y -4.1%
1831.1
y/y -4.9%
7.0%377.1Link
2025-06-30Q2 2025 (3M)OK547.5
y/y -7.7%
88.7
y/y -24.4%
76.3
y/y 14.9%
165.1
y/y -10.2%
59.4
y/y -40.7%
151.7-67.02869.4
y/y -6.0%
1812.5
y/y -6.3%
13.0%421.1Link
2025-03-31Q1 2025 (3M)OK540.5
y/y -17.1%
94.3
y/y -41.2%
68.6
y/y 4.7%
162.9
y/y -27.9%
74.0
y/y -53.2%
145.7-86.82902.7
y/y -2.1%
1831.5
y/y -4.7%
16.1%400.7Link
2024-12-31Q4 2024 (3M)OK590.1
y/y -5.6%
15.3
y/y -86.7%
80.5
y/y 17.6%
95.8
y/y -48.0%
16.3
y/y -85.9%
168.4-93.22915.7
y/y 4.6%
1853.5
y/y -0.3%
19.1%349.8Link
2024-09-30Q3 2024 (3M)OK613.6
y/y -3.6%
101.1
y/y -38.9%
73.0
y/y 11.6%
174.0
y/y -24.6%
86.3
y/y -43.9%
209.3-110.33032.2
y/y 7.8%
1925.1
y/y 3.9%
6.0%297.0Link
2024-06-30Q2 2024 (3M)OK593.4
y/y -7.6%
117.4
y/y -36.2%
66.5
y/y -3.2%
183.9
y/y -27.2%
100.2
y/y -41.0%
215.8-101.43052.9
y/y 9.5%
1934.1
y/y 8.2%
20.8%294.4Link
2024-03-31Q1 2024 (3M)OK651.7
y/y -1.7%
160.3
y/y -22.7%
65.5
y/y -0.0%
225.8
y/y -17.2%
158.1
y/y -17.3%
209.7-123.82965.8
y/y 6.4%
1921.4
y/y 12.5%
33.5%310.8Link
2023-12-31Q4 2023 (3M)OK625.4
y/y —
115.7
y/y —
68.4
y/y —
184.1
y/y —
115.4
y/y —
88.8-84.02788.4
y/y —
1858.6
y/y —
34.0%291.0Link
2023-09-30Q3 2023 (3M)OK636.5
y/y —
165.4
y/y —
65.4
y/y —
230.8
y/y —
153.7
y/y —
229.6-110.32814.0
y/y —
1852.9
y/y —
11.3%176.9Link
2023-06-30Q2 2023 (3M)OK641.8
y/y —
183.9
y/y —
68.6
y/y —
252.6
y/y —
169.8
y/y —
279.0-89.52787.9
y/y —
1786.8
y/y —
38.9%146.9Link
2023-03-31Q1 2023 (3M)OK662.9
y/y —
207.3
y/y —
65.5
y/y —
272.9
y/y —
191.2
y/y —
221.7-95.52787.7
y/y —
1707.2
y/y —
—201.1Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)81
Long-term debt (incl. LT leases)510
− Cash & equivalents111
Net debt480

Net debt / LTM EBITDA: 0.7x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006008002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-50%0%50%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-500501001502024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

01002003004005002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 2.09x of reported net profit; after capex, 1.04x.
year202320242025
cash flow / profit1.31x2.23x2.09x
accruals, % of assets-7.0%-15.2%-11.9%
Last twelve months (to 2026-06-30): 2.30x of profit came back as operating cash flow.
net debt / EBITDA 0.6x · EBIT covers interest 9.7x · capex 1.3x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

coal

Proved reserves
287 900 000 t
2025
Reserve life (R/P)
8.7 yrs
reserves ÷ annual output
Annual production
33 167 000 t
2025

Production, t

32 206 000202433 167 0002025

Proved reserves

YearReserves, t
2025287 900 000
2024303 500 000

Production

YearProduction, t
202533 167 000
+3.0%
202432 206 000

SEC 10-K/20-F (CIK 1086600), отчёт за 2025-12-31: добыча и запасы основного продукта. Извлечение DeepSeek с двумя проверками — каждое число найдено в тексте самой формы, повторы значений между годами сняты. Обновляется scripts/extract_commodity_ops_deepseek.py.

Key-commodity price — Steam coal US

Current 50spot vs LTM +0%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -12.9% ▼ -1.0 pp 1d

Main driver: Steam coal US +0% vs LTM; revenue ×1.00 vs costs ×1.04; EBITDA 647→592; at 5.9× EV/EBITDA → -13%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Steam coal US (rev)+100%50.4950.3451.86+0%+3%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue2 174
LTM EBITDA647
LTM cash costs (revenue − EBITDA)1 528
2 · Revenue projection
Revenue multiplier — spot×1.003 (+0%)
= Spot revenue2 181
Revenue multiplier — 3y price×1.030 (+3%)
= 3-year-price revenue2 240
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs1 589
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs1 589
4 · EBITDA projection (revenue − costs)
= Spot EBITDA592
= 3-year-price EBITDA651
Conservative EBITDA = min(spot, avg)592
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)5.9x
Target EV = EV/EBITDA × conservative EBITDA3 480
Net debt480
Target market cap = EV − net debt2 923
Current market cap3 356

Upside = target market cap ÷ current − 1 = -12.9%

Life of mine: 17 yrs

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -10% vs -5% the year before — a -5.8 pp move. 3-year CAGR —.
revenue growth by year: 2024 -5% · 2025 -10%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 5.9x · 3-year 75th pct 5.9x

EV/EBITDA3-year 75th pct

Peer comparison

Group: Coal. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Core Natural Resourcesglobal4.55.9x
Teck Resourcesglobal28.87.5x
NACCO Industriesglobal0.38.4x
Hallador Energyglobal0.58.7x
Warrior Met Coalglobal4.49.7x
Peabody Energyglobal2.712.3x
Alpha Metallurgical Resourcesglobal2.014.7x
Group median8.7x
Group average9.6x
This companyglobal3.35.9x

Group median 8.7x; this company 5.9x — a 32% discount.

Group average 9.6x; against the average this company is at a 38% discount.

At the adjusted group median the market cap would be +51% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.5x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.7x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-23; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-070.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2026-05-080.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2026-02-060.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2025-11-070.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2025-08-070.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2025-05-080.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2025-02-070.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2024-11-070.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2024-08-070.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2024-05-070.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2024-02-060.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2023-11-060.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2023-08-040.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2023-05-050.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2023-02-060.7 USDEx-dividend: 0.7 USD per sharePaidYahoo Finance (ex-div)
2022-11-040.5 USDEx-dividend: 0.5 USD per sharePaidYahoo Finance (ex-div)
2022-08-040.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2022-05-050.35 USDEx-dividend: 0.35 USD per sharePaidYahoo Finance (ex-div)
2022-02-040.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2021-11-040.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Alliance Resource Partners (ARLP) — from primary filings.

Frequently asked questions

What is Alliance Resource Partners (ARLP)'s P/E ratio?
Alliance Resource Partners (ARLP) trades at a P/E of 12.6x (price to trailing 12-month earnings).
What is Alliance Resource Partners (ARLP)'s EV/EBITDA?
Alliance Resource Partners (ARLP) trades at 5.9x EV/EBITDA.
What is Alliance Resource Partners (ARLP)'s P/B ratio?
Alliance Resource Partners (ARLP) trades at a P/B of 1.8x.
What is Alliance Resource Partners (ARLP)'s dividend yield?
Alliance Resource Partners (ARLP)'s trailing 12-month dividend yield is 9.2%.
What is Alliance Resource Partners (ARLP)'s return on equity (ROE)?
Alliance Resource Partners (ARLP)'s ROE is 17.8%.
What is Alliance Resource Partners (ARLP)'s market capitalization?
Alliance Resource Partners (ARLP)'s market cap is 3.4 bn USD.

See also: The Cheapest Coal Stocks (2026): Out of Favour, Cash-Rich, High-Yield · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map