ANTERO RESOURCES Corp AR

Energy SIC 1311 - Crude Petroleum & Natural Gas NAICS Mining, Quarrying, and Oil and Gas Extraction › Oil and Gas Extraction derived NYSE

Antero Resources Corporation (individually referred to as "Antero") and its consolidated subsidiaries (collectively referred to as "Antero Resources," the "Company," "we," "us" or "our") are engaged in the development, production, exploration and acquisition of natural gas, NGLs and oil properties located in the Appalachian Basin. The Company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies provide the means to economically develop and produce natural gas, NGLs and oil from unconventional formations. As of December 31, 2025, we held approximately 537,000 net acres of natural gas, NGLs and oil properties located in the Appalachian Basin primarily in West Virginia and Ohio. Our corporate headquarters is in Denver, Colorado. Unless expressly stated otherwise, the operating and financial information presented in this Annual Report on Form 10-K does not give effect to the completion of the HG Acquisition or the Utica Shale Divestiture.

Last close 40.16 2026-10-23
Market cap $12.35B 2026-06-30 share count
52-week range 29.10 - 45.75

Valuation FY2025 figures against the last close

P/S2.4x
P/E19.8x
P/FCF7.6x
EV/EBITDA8.3x
Dividend yield—
Diluted EPS2.03

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $5.14B$4.30B$4.48B$8.71B$6.51B$3.39B$3.94B$4.13B$3.02B$2.16B
SG&A $232.5M$229.3M$224.5M$172.9M$145.0M$134.5M$178.7M$240.3M$251.2M$239.3M
Total operating expenses $4.39B$4.33B$4.29B$4.60B$4.60B$4.45B$5.40B$4.07B$2.92B$2.72B
Operating income $883.6M$460.0K$396.2M$2.54B$23.9M-$953.4M-$987.0M$71.9M$740.1M-$975.8M
Interest expense ——$117.9M$125.4M$181.9M$199.9M$228.1M$286.7M$268.7M$253.6M
Pre-tax income $890.4M-$24.5M$361.0M$2.44B-$228.2M-$1.66B-$367.2M-$174.6M$490.1M-$1.25B
Income tax $215.9M$118.2M$63.6M$441.3M$74.1M$397.5M$74.1M$128.9M$295.1M$496.4M
Net income $675.0M$94.0M$297.0M$2.00B-$162.0M-$1.26B-$293.1M-$45.7M$785.1M-$749.4M
EPS, basic 2.050.180.666.09-0.61-4.65-1.11-1.261.95-2.88
EPS, diluted 2.030.180.645.69-0.61-4.65-1.11-1.261.94-2.88
Shares, diluted (wtd. avg.) 312.4M313.4M311.6M329.2M308.1M272.4M306.4M316.0M316.3M294.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $210.0M$0$0$0$0$0$0$0$28.4M$31.6M
Receivables $33.8M$34.4M$42.6M$35.5M$79.0M$28.5M$46.4M$51.1M$34.9M$29.7M
Total current assets $831.8M$507.5M$475.7M$787.5M$686.1M$574.1M$922.9M$806.6M$833.1M$402.6M
Property, plant and equipment ——————$9.98B$13.87B$13.24B$12.03B
Total assets $13.25B$13.01B$13.52B$14.12B$13.90B$13.15B$15.20B$15.52B$15.26B$14.26B
Accounts payable ———$77.5M$24.8M$26.7M$14.5M$66.3M$63.0M$38.6M
Total current liabilities $1.50B$1.45B$1.45B$1.77B$2.07B$983.1M$1.04B$853.5M$762.1M$817.4M
Long-term debt $1.40B$1.49B$1.54B$1.18B$2.13B$3.00B$3.76B$5.46B$4.80B$4.70B
Total liabilities $5.53B$5.79B$6.38B$7.10B$7.83B$7.06B$8.23B$7.03B$6.39B$6.53B
Retained earnings $1.68B$1.11B$1.05B$913.9M-$617.4M-$430.5M$837.4M$1.18B$1.58B$960.0M
Total equity $7.55B$7.02B$7.13B$6.98B$6.06B$6.09B$6.97B$8.49B$8.88B$7.73B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.63B$849.3M$994.7M$3.05B$1.66B$735.6M$1.10B$2.08B$2.01B$1.24B
Depreciation and amortisation $749.7M$762.1M$746.8M$715.2M$742.0M$861.9M$914.9M$972.5M$824.6M$809.9M
Stock-based compensation $60.8M$66.5M$59.5M$35.4M$20.4M$23.3M$23.6M$70.4M$103.4M$102.4M
Capital expenditure ———$944.0M$715.9M$874.4M$1.42B$2.21B$2.22B—
Investing cash flow -$1.08B-$714.2M-$1.14B-$943.6M-$710.8M-$530.1M-$1.04B-$2.35B-$2.46B-$2.40B
Financing cash flow -$343.1M-$135.1M$146.0M-$2.11B-$949.3M-$205.6M$557.6M$240.3M$452.2M$1.16B
Buybacks $136.4M—$75.4M$873.7M—$43.4M$38.8M$129.1M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000330.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2.5B 0 2.5B 5B 7.5B 10B Revenue, FY2016: 2.2B Net income, FY2016: -749.4M Revenue, FY2017: 3B Net income, FY2017: 785.1M Revenue, FY2018: 4.1B Net income, FY2018: -45.7M Revenue, FY2019: 3.9B Net income, FY2019: -293.1M Revenue, FY2020: 3.4B Net income, FY2020: -1.3B Revenue, FY2021: 6.5B Net income, FY2021: -162M Revenue, FY2022: 8.7B Net income, FY2022: 2B Revenue, FY2023: 4.5B Net income, FY2023: 297M Revenue, FY2024: 4.3B Net income, FY2024: 94M Revenue, FY2025: 5.1B Net income, FY2025: 675M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.16B $3.02B $4.13B $3.94B $3.39B $6.51B $8.71B $4.48B $4.30B $5.14B
Gross profit — — — — — — — — — —
Net income -$749.4M $785.1M -$45.7M -$293.1M -$1.26B -$162.0M $2.00B $297.0M $94.0M $675.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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