ARLP ALLIANCE RESOURCE PARTNERS LP

Overview and Growth

ALLIANCE RESOURCE PARTNERS LP generated $2.19B of revenue in fiscal 2025, with net income of $311.16M and an operating cash inflow of $651.14M. Revenue of $2.19B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $2.45B in fiscal 2024, revenue decreased 10.4%, a top-line contraction that reduced operating scale. At period end, total assets were $2.85B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.77x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Operations produced $385.30M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 17.6%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $311.16M, after the operating, financing, tax, and other items recognized for the period. Net margin was 14.2%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $336.01M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 15.3%, adding a pre-tax profitability layer between revenue and net income. The company recognized $18.77M of income tax for the period, completing the transition from pretax income to net income. The effective relationship between income tax and positive pretax income was 5.6%, without assuming a statutory-rate comparison. The relationship between net income and period-end equity was 16.7%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 10.9%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $2.85B, supported by $993.57M of liabilities and $1.86B of shareholder equity. The near-term balance sheet paired $430.05M of current assets with $204.43M of current liabilities at the reporting date. Current assets covered current liabilities by 2.1x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $71.21M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 34.8%, excluding receivables and other current assets. Borrowings totaled $450.78M, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.24x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 15.8% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 34.8%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 2.5% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 2.1% lower than fiscal 2024 assets of $2.92B, measuring the company’s own balance-sheet change. Against $1.85B of equity in fiscal 2024, the current book-equity balance moved 0.4% and ended higher.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $651.14M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 2.09x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $263.28M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 40.4% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $387.86M of positive free cash flow for the period. The free-cash-flow margin was 17.7%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 13.6%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.