Antero Resources Corp

Energy
Oil & Gas Production
www.anteroresources.com

Earnings Score
Moat Score
Safety Score

Market Cap $11.08B
PE 48
Debt $1.29B
Cash $0.00
EV $12.36B
FCF $444.33M

Earnings

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Sales & Net Margins

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Earnings	$228.85M
EBIT	$209.17M
ROE	3%
ROA	2%
FCF	$444.33M
Equity	$7.41B
Growth Stability	-169%
PE	48.4
PEG	-0.83
PB	1.5
P/FCF	24.93
P/S	2.43
Price/Cash	0
Debt/Equity	0.17
Debt/FCF	2.89
Net Margins	15%
Op. Margins	5%
Earnings CAGR	3%
Sales Growth YoY	21%
Sales Growth QoQ	16%
Sales CAGR	9%
FCF CAGR	-0%
Equity CAGR	-2%
Earnings Stability	0.01
Earnings Growth YoY	472%
Earnings Growth QoQ	94%

Earnings CAGR 5Y	-58%
Sales CAGR 5Y	8%
FCF CAGR 5Y	-40%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	-19%
Sales CAGR 3Y	-19%
FCF CAGR 3Y	-64%
Equity CAGR 3Y	4%
Market Cap	$11.08B
Revenue	$4.56B
Assets	$13.05B
Total Debt	$1.29B
Cash	$0.00
Shares Outstanding	311.33M
EV	12.36B
Earnings Score	6%
Moat Score	47%
Safety Score	61%
Final Score	38%
Working Capital	-910.56M
Current Ratio	0.39
Shares Growth 3y	1%
Equity Growth QoQ	3%
Equity Growth YoY	2%

Assets & ROA

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Stockholders Equity & ROE

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Antero Resources, based in Denver, engages in the exploration for and production of natural gas and natural gas liquids in the United States and Canada. At the end of 2021, the company reported proven reserves of 17.7 trillion cubic feet of natural gas equivalent. Production averaged approximately 3,268 million cubic feet of equivalent a day in 2021 at a ratio of 31% liquids and 69% natural gas.

SEC Filings

Direct access to Antero Resources Corp (AR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 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

Sector Comparison

How does Antero Resources Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Antero Resources Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability 1%

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Antero Resources Corp Discounted Cash Flow

Fully customizable DCF calculator online for Antero Resources Corp.

Years

Calculation mode

= $4.4B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$444M	$443M	$442M	$441M	$439M	$438M	$437M	$436M	$435M	$433M	$432M	$4.3B
DCF		$403M	$365M	$331M	$300M	$272M	$247M	$224M	$203M	$184M	$167M	$1.7B
Value	$4.4B

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	24%	-49%	17%	-10%	-8%	-36%	-4%	27%	5%	1%	15%
ROA	-	-7%	5%	0%	-2%	-7%	0%	18%	3%	0%	2%
ROE	-	-11%	7%	-5%	-5%	-21%	-3%	27%	3%	1%	3%

Good Net Margins (15.37%)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-54.38	-22.81	-42.47	-11.79	-21.64	2.25	0.56	50.62	6.35	2.89
Debt over Equity	0.65	0.61	0.54	0.64	0.54	0.49	0.35	0.17	0.21	0.21	0.17
Growth Stability	-	-	-	-169%	-	-	-	-	100%	9%	-169%

Neutral Debt/FCF ratio (2.89)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.17)

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

Bad Graham’s Stability (-169%)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-56%	110%	13%	6%	-21%	32%	55%	-34%	-8%	8%
Earnings YoY growth	-	-190%	-172%	-165%	-14%	273%	-85%	-1K%	-87%	-76%	-58%
Equity YoY growth	-	6%	15%	-4%	-18%	-13%	-0%	16%	3%	0%	6%
FCF YoY growth	-	-87%	143%	-39%	148%	-56%	-781%	123%	-99%	672%	-40%