ANTERO RESOURCES Corp
ANTERO RESOURCES Corp
ANTERO RESOURCES Corp (AR) — SEC Financial Statements & Analysis
ANTERO RESOURCES Corp (AR) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Affiliated Entity | 105 | 5 | 0 | -3 | 85 | 111 | -20 | 4 | 94 | 86 | -6 | 95 | |||||
Nonrelated Party | 78 | 2 | 21 | -15 | 55 | 62 | -1 | 0 | 38 | 39 | 21 | 61 | |||||
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Restricted Cash Current | - | 210 | - | - | - | - | - | - | - | - | - | - | |||||
Accounts Receivable Net Current | 32 | 34 | 37 | 32 | 40 | 34 | 26 | 24 | 40 | 43 | 37 | 37 | |||||
Contract With Customer Receivable After Allowance … | 454 | 473 | 357 | 368 | 513 | 454 | 319 | 362 | 326 | 401 | 373 | 323 | |||||
Derivative Assets Current | 163 | 69 | 17 | 1 | 0 | 1 | 5 | 2 | 7 | 5 | 3 | 3 | |||||
Prepaid Expense And Other Assets Current | - | - | - | - | - | - | - | - | - | - | 10 | 21 | |||||
Prepaid Expense Current | 14 | 15 | 9 | 10 | 13 | 12 | 7 | 10 | 12 | 13 | - | - | |||||
Assets Of Disposal Group Including Discontinued Op… | - | 20 | - | - | - | - | - | - | - | - | - | - | |||||
Other Assets Current | 14 | 11 | 7 | 17 | 8 | 6 | 12 | 11 | 17 | 14 | - | - | |||||
Assets Current | 678 | 832 | 428 | 428 | 575 | 508 | 369 | 409 | 403 | 476 | 422 | 385 | |||||
Property Plant And Equipm… | |||||||||||||||||
Oil And Gas Property Succ… | |||||||||||||||||
Unproved Oil And Gas Property Successful Effort Me… | 1,110 | 797 | 883 | 883 | 883 | 879 | 960 | 963 | 963 | 975 | 1,020 | 1,018 | |||||
Proved Oil And Gas Property Successful Effort Meth… | 16,937 | 14,049 | 14,893 | 14,541 | 14,445 | 14,396 | 14,310 | 14,179 | 14,060 | 13,909 | 13,774 | 13,616 | |||||
Capitalized Costs Wells And Related Equipment And … | - | - | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | |||||
Property Plant And Equipment Other | 119 | 113 | 112 | 109 | 107 | 106 | 105 | 107 | 104 | 99 | 95 | 91 | |||||
Property Plant And Equipment And Finance Lease Rig… | 18,166 | 14,959 | 15,894 | 15,539 | 15,441 | 15,387 | 15,381 | 15,255 | 15,133 | 14,988 | 14,895 | 14,731 | |||||
Property Plant And Equipment And Finance Lease Rig… | -5,957 | -5,753 | -5,980 | -5,883 | -5,768 | -5,699 | -5,447 | -5,296 | -5,180 | -5,165 | -4,957 | -4,855 | |||||
Property Plant And Equipment And Finance Lease Rig… | 12,209 | 9,205 | 9,914 | 9,656 | 9,672 | 9,688 | 9,934 | 9,958 | 9,953 | 9,822 | 9,938 | 9,876 | |||||
Operating Lease Right Of Use Asset | 2,090 | 2,133 | 2,267 | 2,397 | 2,526 | 2,549 | 2,658 | 2,797 | 2,933 | 2,966 | 3,129 | 3,262 | |||||
Derivative Assets Noncurrent | 51 | 13 | 1 | 1 | 1 | 1 | 3 | 3 | 4 | 6 | 7 | 8 | |||||
Equity Method Investments | 253 | 246 | 256 | 249 | 240 | 231 | 227 | 224 | 226 | 222 | 220 | 218 | |||||
Disposal Group Including Discontinued Operation As… | - | 755 | - | - | - | - | - | - | - | - | - | - | |||||
Other Assets Noncurrent | 68 | 63 | 46 | 35 | 35 | 33 | 34 | 25 | 30 | 25 | 21 | 17 | |||||
Assets | 15,349 | 13,245 | 12,912 | 12,766 | 13,049 | 13,010 | 13,224 | 13,416 | 13,548 | 13,517 | 13,737 | 13,767 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Accrued Liabilities Current | 373 | 339 | 305 | 313 | 309 | 403 | 316 | 365 | 315 | 381 | 335 | 366 | |||||
Derivative Liabilities Current | 5 | - | - | 34 | 84 | 32 | 16 | 23 | 14 | 15 | 31 | 36 | |||||
Deferred Revenue Current | 24 | 24 | 24 | 24 | 25 | 25 | 26 | 26 | 27 | 27 | 28 | 29 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | 62 | - | - | - | - | - | - | - | - | - | - | |||||
Other Liabilities Current | 17 | 27 | 21 | 8 | 14 | 3 | 2 | 1 | 1 | 1 | 6 | 7 | |||||
Liabilities Current | 1,693 | 1,503 | 1,386 | 1,405 | 1,485 | 1,446 | 1,324 | 1,406 | 1,383 | 1,452 | 1,461 | 1,507 | |||||
Liabilities Noncurrent | |||||||||||||||||
Long Term Debt Noncurrent | 2,665 | 1,398 | 1,307 | 1,099 | 1,285 | 1,489 | 1,622 | 1,591 | 1,510 | 1,538 | 1,607 | 1,492 | |||||
Deferred Income Tax Liabilities Net | 1,142 | 907 | 839 | 796 | 747 | 693 | 832 | 831 | 844 | 812 | 806 | 792 | |||||
Derivative Liabilities Noncurrent | 7 | - | 25 | 16 | 24 | 17 | 18 | 24 | 26 | 33 | 53 | 59 | |||||
Deferred Revenue Noncurrent | 6 | 12 | 18 | 24 | 30 | 35 | 42 | 48 | 54 | 61 | 68 | 74 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | 40 | - | - | - | - | - | - | - | - | - | - | |||||
Other Liabilities Noncurrent | 63 | 57 | 66 | 64 | 63 | 62 | 56 | 56 | 60 | 59 | 63 | 62 | |||||
Liabilities | 7,126 | 5,530 | 5,394 | 5,282 | 5,641 | 5,794 | 6,042 | 6,224 | 6,277 | 6,383 | 6,638 | 6,698 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Common Stock Value | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |||||
Additional Paid In Capital | 5,842 | 5,865 | 5,854 | 5,867 | 5,903 | 5,909 | 5,895 | 5,879 | 5,880 | 5,847 | 5,822 | 5,804 | |||||
Retained Earnings Accumulated Deficit | 2,218 | 1,682 | 1,489 | 1,435 | 1,312 | 1,109 | 1,082 | 1,103 | 1,168 | 1,052 | 1,037 | 1,019 | |||||
Stockholders Equity | 8,063 | 7,551 | 7,346 | 7,485 | 7,409 | 7,022 | 6,980 | 7,084 | 7,178 | 6,902 | 7,098 | 6,826 | |||||
Minority Interest | 160 | 165 | 172 | 179 | 190 | 195 | 201 | 207 | 221 | 233 | 236 | 242 | |||||
Liabilities And Stockholders Equity | 15,349 | 13,245 | 12,912 | 12,766 | 13,049 | 13,010 | 13,224 | 13,416 | 13,548 | 13,517 | 13,737 | 13,767 | |||||
Preferred Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Preferred Stock Shares Authorized | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Common Stock Shares Authorized | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||
Common Stock Shares Issued | 310 | 309 | 308 | 310 | 312 | 311 | 311 | 311 | 310 | 304 | 300 | 300 | |||||
Shares Outstanding | 310 | 309 | 308 | 310 | 312 | 311 | 311 | 311 | 310 | 304 | 300 | 300 | |||||
Treasury Stock Common Shares | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -5.79% | -14.84% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 13.38% | 25.70% | 4.25% | -8.78% | -6.27% | -8.99% | 6.10% | 7.59% | 2.31% | 10.60% | 15.21% | 10.77% |
| 2024 | 11.32% | 5.47% | 3.56% | -4.93% | -5.44% | -7.51% | 17.33% | 9.60% | 43.37% | -14.58% | -15.03% | -9.19% |
| 2023 | - | - | - | 10.44% | 8.03% | 13.45% | -8.89% | -21.80% | -16.61% | 25.65% | 38.10% | 56.25% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.40 | 0.55 | 0.31 | 0.30 | 0.39 | 0.35 | 0.28 | 0.29 | 0.29 | 0.33 | 0.29 | 0.26 | |||||
| Quick Ratio | 0.39 | 0.54 | 0.30 | 0.30 | 0.38 | 0.34 | 0.27 | 0.28 | 0.28 | 0.32 | 0.28 | 0.24 | |||||
| Working Capital | -1.02B | -671.53M | -958.25M | -977.20M | -910.56M | -938.38M | -955.31M | -997.02M | -980.19M | -976.40M | -1.04B | -1.12B | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.88 | 0.72 | 0.73 | 0.71 | 0.76 | 0.80 | 0.87 | 0.88 | 0.87 | 0.89 | 0.94 | 0.98 | |||||
| Interest Coverage TTM | 13.79 | 10.56 | 7.36 | 5.16 | 2.01 | 0.00 | 0.27 | 0.79 | 0.76 | 2.76 | 11.24 | 18.30 | |||||
| Debt Ratio | 0.46 | 0.42 | 0.42 | 0.41 | 0.43 | 0.45 | 0.46 | 0.46 | 0.46 | 0.47 | 0.48 | 0.49 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.41 | 0.40 | 0.39 | 0.37 | 0.34 | 0.33 | 0.32 | 0.33 | 0.32 | 0.34 | 0.38 | 0.49 | |||||
| Days Sales Outstanding TTM | 2.27 | 2.36 | 2.30 | 2.07 | 3.22 | 3.25 | 2.65 | 2.49 | 2.92 | 3.04 | 2.06 | 1.66 | |||||
| Receivables Turnover TTM | 161.14 | 154.75 | 159.01 | 176.62 | 113.18 | 112.31 | 137.94 | 146.30 | 125.01 | 119.89 | 176.95 | 219.33 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 3.22 | 2.16 | 1.97 | 1.61 | 0.85 | 0.30 | -0.16 | 0.03 | 0.06 | 0.64 | 2.77 | 4.63 | |||||
| Free Cash Flow Per Share TTM | 5.83 | 4.45 | 4.13 | 4.16 | 3.05 | 2.45 | 2.58 | 2.63 | 2.65 | 2.81 | 3.30 | 6.25 | |||||
| Dividend Per Share TTM | 0.23 | 0.23 | 0.23 | 0.22 | 0.21 | 0.24 | 0.27 | 0.29 | 0.33 | 0.43 | 0.55 | 0.63 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 107.54% | 96.39% | 57.48% | 56.63% | 40.17% | 37.51% | 92.53% | 92.95% | 92.90% | 93.91% | 51.15% | 60.93% | |||||
| Operating Profit Margin TTM | 22.86% | 16.75% | 12.96% | 10.44% | 4.92% | 0.01% | 0.93% | 2.74% | 2.56% | 8.46% | 23.11% | 28.70% | |||||
| Net Profit Margin TTM | 17.07% | 12.79% | 12.20% | 10.33% | 5.86% | 2.17% | -1.15% | 0.18% | 0.45% | 4.24% | 16.04% | 20.34% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 28.80% | 21.97% | 15.67% | 10.26% | 3.64% | -7.61% | -18.98% | -35.25% | -47.24% | -46.26% | -39.58% | -15.46% | |||||
| Net Income Growth (1Y) | 275.22% | 619.95% | -1,326.90% | 6,376.93% | 1,259.10% | -52.77% | -105.81% | -99.44% | -99.13% | -89.55% | -59.75% | 36.91% | |||||
| EPS Growth (1Y) | 278.12% | 619.41% | -1,335.89% | 6,387.01% | 1,231.23% | -54.25% | -105.61% | -99.46% | -99.16% | -89.29% | -59.06% | 41.65% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 13.09 | 15.82 | 16.87 | 24.83 | 47.15 | 115.77 | -178.00 | 1,304.89 | 450.16 | 34.27 | 8.84 | 4.98 | |||||
| P/B | 1.63 | 1.38 | 1.41 | 1.67 | 1.70 | 1.50 | 1.28 | 1.43 | 1.23 | 0.95 | 1.07 | 1.01 | |||||
| P/S TTM | 2.23 | 2.02 | 2.06 | 2.56 | 2.76 | 2.51 | 2.05 | 2.29 | 2.01 | 1.45 | 1.42 | 1.01 | |||||
| Market Cap | 13.11B | 10.67B | 10.36B | 12.50B | 12.59B | 10.85B | 8.91B | 10.14B | 8.84B | 6.80B | 7.62B | 6.91B | |||||
| Enterprise Value | 15.78B | 11.86B | 11.67B | 13.60B | 13.88B | 12.34B | 10.53B | 11.73B | 10.35B | 8.34B | 9.22B | 8.40B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 1.80B | 1.38B | 1.28B | 1.29B | 951.06M | 758.29M | 802.41M | 816.41M | 807.78M | 843.59M | 989.84M | 1.87B | |||||
| Net Debt | 2.66B | 1.19B | 1.31B | 1.10B | 1.29B | 1.49B | 1.62B | 1.59B | 1.51B | 1.54B | 1.61B | 1.49B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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