Antero Resources Corp Financials
This page shows Antero Resources Corp (AR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Operating cash generation is funding reinvestment and balance-sheet repair, even while short-term liquidity remains tight.
In FY2025, operating cash flow of$1.63B was more than double net income of$675M , so reported earnings understate how much cash the asset base throws off. That gap is largely explained by about$750M of depreciation, and across FY2021-FY2025 long-term debt fell from$2.13B to$1.40B , showing that cash has been used to strengthen the balance sheet rather than merely support accounting profit.
The working-capital posture is still lean: FY2025 cash was only
From FY2024 to FY2025, SG&A stayed near
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Antero Resources Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Antero Resources Corp scores 1.89, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($10.7B) relative to total liabilities ($5.5B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Antero Resources Corp passes 8 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Antero Resources Corp generates $2.42 in operating cash flow ($1.6B OCF vs $675.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Antero Resources Corp generated $5.3B in revenue in fiscal year 2025. This represents an increase of 22.0% from the prior year.
Antero Resources Corp's EBITDA was $1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 114.2% from the prior year.
Antero Resources Corp reported $675.0M in net income in fiscal year 2025. This represents an increase of 618.1% from the prior year.
Antero Resources Corp earned $2.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1027.8% from the prior year.
Cash & Balance Sheet
Antero Resources Corp held $210.0M in cash against $1.4B in long-term debt as of fiscal year 2025.
Antero Resources Corp had 309M shares outstanding in fiscal year 2025. This represents a decrease of 0.9% from the prior year.
Margins & Returns
Antero Resources Corp's operating margin was 16.8% in fiscal year 2025, reflecting core business profitability. This is up 16.7 percentage points from the prior year.
Antero Resources Corp's net profit margin was 12.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.6 percentage points from the prior year.
Antero Resources Corp's ROE was 8.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.6 percentage points from the prior year.
Capital Allocation
Antero Resources Corp spent $136.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
AR Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B+37.8% | $1.4B+16.3% | $1.2B-6.4% | $1.3B-4.1% | $1.4B+15.7% | $1.2B+10.7% | $1.1B+7.9% | $978.7M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $63.3M+13.2% | $56.0M-1.7% | $56.9M-0.4% | $57.2M-8.4% | $62.4M+5.1% | $59.4M+8.8% | $54.6M-8.1% | $59.4M |
| Operating Income | $729.5M+152.3% | $289.2M+144.8% | $118.1M-42.3% | $204.9M-24.5% | $271.5M+369.8% | $57.8M+331.4% | -$25.0M+68.8% | -$80.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $145.5M+108.0% | $69.9M+61.4% | $43.3M-10.1% | $48.2M-11.4% | $54.4M+152.2% | -$104.2M-3426.4% | -$3.0M+82.9% | -$17.3M |
| Net Income | $548.2M+169.6% | $203.4M+137.5% | $85.6M-48.6% | $166.6M-24.1% | $219.5M+37.9% | $159.1M+731.7% | -$25.2M+66.2% | -$74.6M |
| EPS (Diluted) | $1.72 | N/A | $0.24-52.0% | $0.50-24.2% | $0.66 | N/A | $-0.11+57.7% | $-0.26 |
AR Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.3B+15.9% | $13.2B+2.6% | $12.9B+1.1% | $12.8B-2.2% | $13.0B+0.3% | $13.0B-1.6% | $13.2B-1.4% | $13.4B |
| Current Assets | $677.9M-18.5% | $831.8M+94.4% | $427.8M+0.1% | $427.5M-25.6% | $574.8M+13.2% | $507.5M+37.7% | $368.6M-9.9% | $409.0M |
| Cash & Equivalents | $0-100.0% | $210.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $32.4M-3.9% | $33.8M-9.1% | $37.1M+17.4% | $31.6M-21.6% | $40.4M+17.4% | $34.4M+31.6% | $26.2M+11.1% | $23.6M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $7.1B+28.9% | $5.5B+2.5% | $5.4B+2.1% | $5.3B-6.4% | $5.6B-2.6% | $5.8B-4.1% | $6.0B-2.9% | $6.2B |
| Current Liabilities | $1.7B+12.6% | $1.5B+8.5% | $1.4B-1.3% | $1.4B-5.4% | $1.5B+2.7% | $1.4B+9.2% | $1.3B-5.8% | $1.4B |
| Long-Term Debt | $2.7B+90.6% | $1.4B+6.9% | $1.3B+19.0% | $1.1B-14.5% | $1.3B-13.7% | $1.5B-8.2% | $1.6B+2.0% | $1.6B |
| Total Equity | $8.1B+6.8% | $7.6B+2.8% | $7.3B+0.6% | $7.3B+1.2% | $7.2B+2.8% | $7.0B+0.6% | $7.0B-0.1% | $7.0B |
| Retained Earnings | $2.2B+31.8% | $1.7B+13.0% | $1.5B+3.7% | $1.4B+9.4% | $1.3B+18.3% | $1.1B+2.5% | $1.1B-1.9% | $1.1B |
AR Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $859.1M+131.7% | $370.7M+19.6% | $310.1M-37.0% | $492.4M+7.6% | $457.7M+64.7% | $278.0M+67.3% | $166.2M+15.8% | $143.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$2.3B-921.1% | -$223.6M+50.2% | -$448.8M-127.3% | -$197.5M+5.0% | -$207.9M-65.1% | -$125.9M+27.7% | -$174.1M+7.0% | -$187.3M |
| Financing Cash Flow | $1.2B+1831.3% | $62.9M-54.7% | $138.7M+147.0% | -$294.9M-18.0% | -$249.8M-64.3% | -$152.1M-2013.4% | $7.9M-81.9% | $43.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $83K-99.8% | $51.4M-31.4% | $74.9M+641.7% | $10.1M | N/A | N/A | N/A |
AR Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 37.5%+17.0pp | 20.5%+10.8pp | 9.7%-6.1pp | 15.8%-4.3pp | 20.1%+15.1pp | 4.9%+7.3pp | -2.4%+5.8pp | -8.2% |
| Net Margin | 28.2%+13.8pp | 14.4%+7.4pp | 7.0%-5.8pp | 12.8%-3.4pp | 16.2%+2.6pp | 13.6%+16.0pp | -2.4%+5.2pp | -7.6% |
| Return on Equity | 6.8%+4.1pp | 2.7%+1.5pp | 1.2%-1.1pp | 2.3%-0.8pp | 3.0%+0.8pp | 2.3%+2.6pp | -0.4%+0.7pp | -1.1% |
| Return on Assets | 3.6%+2.0pp | 1.5%+0.9pp | 0.7%-0.6pp | 1.3%-0.4pp | 1.7%+0.5pp | 1.2%+1.4pp | -0.2%+0.4pp | -0.6% |
| Current Ratio | 0.40-0.2 | 0.55+0.2 | 0.310.0 | 0.30-0.1 | 0.39+0.0 | 0.35+0.1 | 0.28-0.0 | 0.29 |
| Debt-to-Equity | 0.33+0.1 | 0.190.0 | 0.18+0.0 | 0.15-0.0 | 0.18-0.0 | 0.21-0.0 | 0.230.0 | 0.23 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is Antero Resources Corp's annual revenue?
Antero Resources Corp (AR) reported $5.3B in total revenue for fiscal year 2025. This represents a 22.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Antero Resources Corp's revenue growing?
Antero Resources Corp (AR) revenue grew by 22% year-over-year, from $4.3B to $5.3B in fiscal year 2025.
Is Antero Resources Corp profitable?
Yes, Antero Resources Corp (AR) reported a net income of $675.0M in fiscal year 2025, with a net profit margin of 12.8%.
What is Antero Resources Corp's EBITDA?
Antero Resources Corp (AR) had EBITDA of $1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Antero Resources Corp have?
As of fiscal year 2025, Antero Resources Corp (AR) had $210.0M in cash and equivalents against $1.4B in long-term debt.
What is Antero Resources Corp's operating margin?
Antero Resources Corp (AR) had an operating margin of 16.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Antero Resources Corp's net profit margin?
Antero Resources Corp (AR) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Antero Resources Corp's return on equity (ROE)?
Antero Resources Corp (AR) has a return on equity of 8.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Antero Resources Corp's operating cash flow?
Antero Resources Corp (AR) generated $1.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Antero Resources Corp's total assets?
Antero Resources Corp (AR) had $13.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Antero Resources Corp's current ratio?
Antero Resources Corp (AR) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Antero Resources Corp's debt-to-equity ratio?
Antero Resources Corp (AR) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Antero Resources Corp's return on assets (ROA)?
Antero Resources Corp (AR) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Antero Resources Corp's Altman Z-Score?
Antero Resources Corp (AR) has an Altman Z-Score of 1.89, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Antero Resources Corp's Piotroski F-Score?
Antero Resources Corp (AR) has a Piotroski F-Score of 8 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Antero Resources Corp's earnings high quality?
Antero Resources Corp (AR) has an earnings quality ratio of 2.42x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Antero Resources Corp?
Antero Resources Corp (AR) scores 31 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.