Alliance Resource Partners Lp

Energy
Coal Mining
www.arlp.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.37B
PE 7
Debt $519.23M
Cash $195.43M
EV $3.69B
FCF $310.37M

Earnings

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Sales & Net Margins

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Earnings	$459.97M
EBIT	$494.49M
ROE	24%
ROA	16%
FCF	$310.37M
Equity	$1.90B
Growth Stability	-36%
PE	7.32
PEG	0.16
PB	1.77
P/FCF	10.85
P/S	1.36
Price/Cash	0.06
Debt/Equity	0.27
Debt/FCF	1.67
Net Margins	19%
Op. Margins	20%
Earnings CAGR	4%
Sales Growth YoY	-4%
Sales Growth QoQ	3%
Sales CAGR	2%
FCF CAGR	-3%
Equity CAGR	6%
Earnings Stability	0.05
Earnings Growth YoY	-44%
Earnings Growth QoQ	-14%

Earnings CAGR 5Y	47%
Sales CAGR 5Y	15%
FCF CAGR 5Y	22%
Equity CAGR 5Y	16%
Earnings CAGR 3Y	17%
Sales CAGR 3Y	17%
FCF CAGR 3Y	6%
Equity CAGR 3Y	20%
Market Cap	$3.37B
Revenue	$2.48B
Assets	$3.03B
Total Debt	$519.23M
Cash	$195.43M
Shares Outstanding	130.5M
EV	3.69B
Earnings Score	6%
Moat Score	96%
Safety Score	64%
Final Score	55%
Working Capital	361.36M
Current Ratio	2.36
Shares Growth 3y	-0%
Equity Growth QoQ	-0%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Alliance Resource Partners LP operates as a coal mining company based in the United States. It has four segments Illinois Basin, Appalachia, Oil & Gas Royalties and Coal Royalties. The Illinois Basin comprises underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia and it makes up for most of the company's revenue-generating operations. The Appalachia segment comprises the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining mining complex. The Oil & Gas Royalties has oil & gas mineral interests held by AR Midland and AllDale I & II and includes Alliance Minerals' equity interests in both AllDale III and Cavalier Minerals. The Coal Royalties has includes coal mineral reserves and resources owned or leased by Alliance Resource Properties.

SEC Filings

Direct access to Alliance Resource Partners Lp (ARLP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Alliance Resource Partners Lp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Alliance Resource Partners Lp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 4%

Stability 5%

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Alliance Resource Partners Lp Discounted Cash Flow

Fully customizable DCF calculator online for Alliance Resource Partners Lp.

Years

Calculation mode

= $2.5B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$310M	$301M	$292M	$283M	$274M	$266M	$257M	$250M	$242M	$234M	$227M	$2.3B
DCF		$273M	$241M	$212M	$187M	$165M	$145M	$128M	$113M	$99M	$88M	$876M
Value	$2.5B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	22%	13%	18%	17%	18%	20%	-10%	11%	24%	25%	19%
ROA	-	15%	17%	15%	16%	16%	-4%	10%	25%	24%	16%
ROE	-	31%	31%	26%	31%	32%	-12%	15%	36%	34%	24%

Good Net Margins (18.54%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.1	1.14	1.4	1.65	3.84	2.42	1.52	0.89	0.82	1.67
Debt over Equity	1.04	1.07	0.64	0.5	0.64	0.64	0.64	0.38	0.28	0.2	0.27
Growth Stability	-	-	-	80%	100%	100%	-36%	84%	100%	100%	-36%

Good Debt/FCF ratio (1.67)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.27)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-36%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-1%	-15%	-7%	12%	-2%	-32%	18%	53%	7%	15%
Earnings YoY growth	-	-38%	11%	-11%	21%	9%	-132%	-238%	224%	9%	47%
Equity YoY growth	-	-3%	10%	5%	3%	6%	-15%	15%	33%	14%	16%
FCF YoY growth	-	18%	22%	-33%	12%	-55%	34%	8%	67%	-11%	22%