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Antero Resources Corporation USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Appalachian gas and liquids producer operating extended-reach horizontal wells.

Sector: United States — oil & gas exploration & production

US_EP_AR

No intraday sparkline from the default exchange feed; Yahoo or day change may still appear below when available.

No price chart.

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
—
Market cap
—

Growth

Δ revenue y/y
43.8%
Δ EBITDA y/y
104.4%

Multiples

P/E (LTM)
—
P/B (FY)
—
EV/EBITDA (LTM)
—

Cash return

Dividend yield
—
FCF yield (LTM)
—

Liquidity

Daily turnover
—

Shares: sec_companyfacts/1433270

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 8 / Err: 3 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-09-30 Q3⚠Warn 1
2023-12-31 FY⚠Warn 1
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2✗Errors 2Warn 1
2024-09-30 Q3⚠Warn 3
2024-12-31 FY✗Errors 1Warn 1
2025-03-31 Q1⚠Warn 3
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 1
2026-03-31 Q1✗Errors 1Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK1945.1
y/y 43.8%
729.5
y/y 168.7%
206.2
y/y 10.7%
935.7
y/y 104.4%
548.2
y/y 149.8%
859.1-2283.515349.4
y/y 17.6%
8063.0
y/y 11.7%
28.1%3201.1Link
2025-12-31FY 2025 (12M)OK1411.6
y/y 20.8%
289.2
y/y 400.5%
187.0
y/y -3.5%
476.1
y/y 89.3%
202.9
y/y 27.8%
370.7-223.613245.4
y/y 1.8%
7550.8
y/y 7.5%
9.1%1704.2Link
2025-09-30Q3 2025 (3M)OK1214.0
y/y 15.0%
118.1
y/y 573.0%
188.8
y/y -0.3%
306.9
y/y 86.8%
85.6
y/y 439.9%
310.1-448.812912.1
y/y -2.4%
7345.8
y/y 5.2%
1.6%1816.6Link
2025-06-30Q2 2025 (3M)OK1297.5
y/y 32.6%
204.9
y/y 355.8%
187.6
y/y -0.6%
392.5
y/y 261.6%
166.6
y/y 323.3%
492.4-197.512766.1
y/y -4.8%
7305.6
y/y 4.6%
9.2%1613.0Link
2025-03-31Q1 2025 (3M)OK1352.7
y/y 20.5%
271.5
y/y 468.7%
186.4
y/y -2.2%
457.8
y/y 92.2%
219.5
y/y 533.0%
457.7-207.913049.3
y/y -3.7%
7218.4
y/y 2.4%
12.3%1801.3Link
2024-12-31FY 2024 (12M)OK1168.8
y/y —
57.8
y/y —
193.7
y/y —
251.5
y/y —
158.8
y/y —
278.0-125.913010.0
y/y -3.8%
7021.6
y/y 1.7%
1.3%1983.1Link
2024-09-30Q3 2024 (3M)OK1055.9
y/y -6.2%
-25.0
y/y -144.8%
189.3
y/y 7.4%
164.3
y/y -29.2%
-25.2
y/y -177.2%
166.2-174.113223.6
y/y -3.7%
6980.0
y/y 1.7%
-0.5%2128.0Link
2024-06-30Q2 2024 (3M)OK978.7
y/y —
-80.1
y/y —
188.6
y/y —
108.5
y/y —
-74.6
y/y —
143.5-187.313415.8
y/y —
6985.0
y/y —
-4.3%2116.8Link
2024-03-31Q1 2024 (3M)OK1122.3
y/y —
47.7
y/y —
190.5
y/y —
238.2
y/y —
34.7
y/y —
261.6-226.813548.5
y/y —
7050.9
y/y —
2.0%2045.7Link
2023-12-31FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
312.2—13517.2
y/y —
6901.5
y/y —
4.3%2077.7Link
2023-09-30Q3 2023 (3M)OK1126.2
y/y —
55.7
y/y —
176.3
y/y —
232.0
y/y —
32.6
y/y —
183.4-276.113736.6
y/y —
6862.1
y/y —
—2157.9Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
19 149 000 mln cfe
2025
Reserve life (R/P)
15.2 yrs
reserves ÷ annual output
Annual production
1 262 762 mln cfe
2025

Proved reserves

YearReserves, mln cfe
202519 149 000
202417 903 000
202318 121 000
202217 759 000
202117 729 000
202017 635 000
201918 893 000
201818 011 000
201754 648 000

Production

YearProduction, mln cfeper day
2026350 532 *960 361 644
20251 262 7623 459 621 918
20241 255 4093 439 476 712
20237 346 97420 128 695 890
20221 176 0513 222 057 534
20211 201 1093 290 709 589
20205 611 08615 372 838 356
20191 181 8293 237 887 671
2018993 9842 723 243 836

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%0%100%200%300%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

Net debt / cash ($ mln)

01 0002 0003 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

EV/EBITDA — daily history

Current 6.7x · 3-year average 11.6x

EV/EBITDA3-year average

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

571.7570.1568.5566.9565.320232024Net production (Mboe/d)

Proved reserves (MMboe)

Reserves life (R/P): 14.3 yr

3020301130022993298420232024Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2024-12-31571.72,983.8——
2023-12-31565.33,020.2——

Spot EBITDA forecast (next 12 months)

Model: apply spot-vs-LTM commodity price moves to LTM revenue mix (oil/gas/NGL). Purchased products scale with revenue; remaining cash expenses inflate (PPI proxy). Fair value: EBITDA at trailing ~3y average commodity prices, conservative used EBITDA (average of spot and 3y-avg when spot is higher), × 3y average EV/EBITDA − net debt.

Notes: Revenue mix derived from FY2025 10-K production volumes × realized sales prices (see Production & realized prices table below).
Spot 12M revenue
6 034 USDm
+3.9% vs LTM
Spot 12M EBITDA
2 113 USDm
+1.0% vs LTM
EV / Spot EBITDA
—
Show calculation
Line itemValue
1 · Reported baseline
LTM or latest FY revenue/EBITDA and revenue mix.
LTM revenue (last 4 quarters)5 809 USDm
LTM EBITDA (last 4 quarters)2 093 USDm
Baseline cash costs (revenue − EBITDA)3 716 USDm
Revenue mix: oil / gas / NGL / other3.0% / 57.4% / 39.6% / 0.0%
· Crude oil150 USDm (3.0% of implied)
· Natural gas2 876 USDm (57.4% of implied)
· NGLs1 985 USDm (39.6% of implied)
2 · Commodity prices
Spot move = last ÷ LTM average. 3y-avg-price EBITDA uses trailing ~3y mean ÷ LTM average.
Oil — spot & 3y avg vs LTMspot 95.96 · LTM avg 72.44 · 3y avg — → spot move +32.5%
Gas — spot & 3y avg vs LTMspot 3.16 · LTM avg 3.41 · 3y avg — → spot move -7.3%
NGL — spot & 3y avg vs LTMspot 5 862.50 · LTM avg 4 970.46 · 3y avg — → spot move +17.9%
3 · Cash cost model
Purchased products scale with revenue; other costs inflate.
Purchased products / revenue0.0%
PPI inflation multiplier (12m)1.055
→ Projected purchased cost (at spot revenue)0 USDm
→ Projected other cash cost (inflated)3 921 USDm
4 · Spot forward P&L
Headline spot cards use §4.
= Projected spot revenue6 034 USDm
= Spot EBITDA2 113 USDm
= EBITDA at 3y avg commodity prices1 500 USDm
5 · Valuation vs spot
Current EV vs spot EBITDA.
Enterprise value (current)—
EV ÷ Spot EBITDA—
6 · Fair value & upside
Conservative used EBITDA × 3y average EV/EBITDA → fair market cap.
EBITDA at 3y avg commodity prices1 500 USDm
= Conservative used EBITDA1 807 USDm
Fair market cap (3y avg EV/EBITDA × used EBITDA − net debt)—

Flow: baseline → commodity prices → expense model → spot P&L → fair value (used EBITDA × 3y avg EV/EBITDA − net debt). Hover for formulas.

2025-12-31 · FY

Production & proved reserves

Line itemAmount

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Item 1 'Production, Price and Cost History' (ar-20251231x10k.htm). NGL is C2 ethane (29,842 MBbl) + C3+ NGLs (42,010 MBbl); ngl_price is volume-weighted ($11.91 ethane, $38.83 C3+). Prices before derivative settlements.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil2.9 MMBbls51.80 USD/bbl150.23.0%
Natural gas808,000 MMcf3.56 USD/Mcf2,876.557.4%
NGLs71.9 MMBbls27.63 USD/bbl1,985.339.6%
Total (implied product revenue)5,011.9100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)5,010.2USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)265.6USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization749.7USD mln
General & administrative232.5USD mln
Impairment — oil & gas properties29.4USD mln
Income tax expense (benefit)215.9USD mln
Total costs and expenses (consolidated)4,392.2USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

Line itemAmount
Crude oil equivalent (net, Mboe/d)571.7
Proved reserves (net, MMboe)2,983.8

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)4,115.3USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)210.3USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization762.1USD mln
General & administrative229.3USD mln
Impairment — oil & gas properties47.4USD mln
Income tax expense (benefit)-118.2USD mln
Total costs and expenses (consolidated)4,325.1USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

Line itemAmount
Crude oil equivalent (net, Mboe/d)565.3
Proved reserves (net, MMboe)3,020.2

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)4,276.4USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)405.5USD mln

Selected expenses (SEC tags)

Line itemAmount
Depreciation, depletion & amortization746.8USD mln
General & administrative224.5USD mln
Impairment — oil & gas properties51.3USD mln
Income tax expense (benefit)63.6USD mln
Total costs and expenses (consolidated)4,285.7USD mln

Primary SEC filing for this FY (HTML)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Investor reporting (IR): https://ir.anteroresources.com/

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)