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Range Resources Corporation (RRC) USD

Appalachian Basin independent producer of natural gas, NGLs, and oil.

At a glance: strengths & risks
✓Low leverage (1.0x EBITDA)✓Cheaper than own history (EV/EBITDA 8.0 vs avg 10.7)✗Revenue declining (-11% y/y, Q2 2026)✗Profit falling (-18% y/y, Q2 2026)✗Margins compressing (46%→39%, Q2 2026)✗Only 12 years of reserves✗Commodity price -22% vs 1-yr · -8% vs 3-yr✗Priced above model value

Sector: United States — oil & gas exploration & production

Geography: United States

US_EP_RRC

Price chart

45.52 USDDay 3.78%

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
45.52 USD · 3.78%
Market cap
10.7 bn USD

Growth

Δ revenue y/y
-11.3%
Δ EBITDA y/y
-25.2%

Multiples

P/E (LTM)
12.5x
3y avg: 18.7x
P/B (FY)
2.5x
P/E (ann.)
13.7x
EV/EBITDA (LTM)
8.0x
3y avg: 10.7x
EV/EBITDA (ann.)
9.7x

Cash return

Dividend yield
0.9%
FCF yield (LTM)
7.3%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-37.8%
↓ details

Liquidity

Daily turnover (listing)
141.8 mln USD

Shares: sec_companyfacts/315852

Financial results

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
2026-06-30Q2 2026 (3M)OK759.6
y/y -11.3%
201.4
y/y -33.3%
93.1
y/y 1.7%
294.5
y/y -25.2%
195.3
y/y -17.8%
235.0-181.57561.9
y/y 6.4%
4708.7
y/y 14.1%
16.8%676.5Link
2026-03-31Q1 2026 (3M)OK1034.2
y/y 49.8%
433.2
y/y 294.7%
88.5
y/y -2.2%
521.7
y/y 160.5%
341.6
y/y 252.0%
619.1-158.37404.9
y/y 0.3%
4602.4
y/y 16.8%
30.6%631.7Link
2025-12-31Q4 2025 (3M)OK820.2
y/y 30.9%
236.6
y/y 269.5%
94.6
y/y 2.3%
331.2
y/y 111.6%
179.1
y/y 88.8%
257.5-148.17421.9
y/y 1.0%
4318.7
y/y 9.7%
15.4%1168.6Link
2025-09-30Q3 2025 (3M)OK748.5
y/y 21.7%
183.3
y/y 176.8%
93.8
y/y 2.9%
277.1
y/y 76.1%
144.3
y/y 184.9%
247.5-153.47197.8
y/y -0.6%
4203.5
y/y 8.7%
4.6%1198.1Link
2025-06-30Q2 2025 (3M)OK856.3
y/y 61.5%
302.0
y/y 2917.4%
91.5
y/y 4.5%
393.6
y/y 303.2%
237.6
y/y 727.7%
336.2-147.37105.1
y/y -2.2%
4126.7
y/y 6.9%
23.6%1250.1Link
2025-03-31Q1 2025 (3M)OK690.6
y/y 7.0%
109.7
y/y -0.6%
90.6
y/y 3.9%
200.3
y/y 1.4%
97.1
y/y 5.3%
330.1-132.77382.7
y/y 0.1%
3939.4
y/y 2.9%
9.9%1455.0Link
2024-12-31Q4 2024 (3M)OK626.4
y/y -33.5%
64.0
y/y -83.5%
92.5
y/y 1.7%
156.5
y/y -67.3%
94.8
y/y -69.4%
217.9-138.27347.7
y/y 2.0%
3936.7
y/y 4.5%
6.8%1516.3Link
2024-09-30Q3 2024 (3M)OK615.1
y/y 0.9%
66.2
y/y 1.7%
91.1
y/y 4.0%
157.4
y/y 3.0%
50.7
y/y 2.5%
245.9-146.27241.3
y/y 5.8%
3868.1
y/y 12.2%
1.7%1551.2Link
2024-06-30Q2 2024 (3M)OK530.1
y/y -16.8%
10.0
y/y -77.7%
87.6
y/y 3.1%
97.6
y/y -24.9%
28.7
y/y -5.1%
148.8-153.27266.2
y/y 7.0%
3861.0
y/y 14.0%
3.0%1589.6Link
2024-03-31Q1 2024 (3M)OK645.5
y/y -45.6%
110.3
y/y -81.7%
87.1
y/y 0.6%
197.5
y/y -71.4%
92.1
y/y -80.9%
331.9-132.97371.8
y/y 7.1%
3826.8
y/y 15.8%
9.7%1564.5Link
2023-12-31Q4 2023 (3M)OK941.8
y/y —
386.9
y/y —
90.9
y/y —
477.9
y/y —
310.0
y/y —
226.1-150.77203.9
y/y —
3765.6
y/y —
24.2%1589.9Link
2023-09-30Q3 2023 (3M)OK609.7
y/y —
65.1
y/y —
87.6
y/y —
152.7
y/y —
49.4
y/y —
150.3-144.06845.9
y/y —
3447.6
y/y —
1.9%1610.6Link
2023-06-30Q2 2023 (3M)OK637.0
y/y —
44.9
y/y —
85.0
y/y —
129.9
y/y —
30.2
y/y —
126.6-151.66790.2
y/y —
3387.6
y/y —
3.6%1610.6Link
2023-03-31Q1 2023 (3M)OK1186.4
y/y —
603.3
y/y —
86.6
y/y —
689.9
y/y —
481.4
y/y —
475.0-125.56882.3
y/y —
3305.5
y/y —
—1605.6Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)56
Long-term debt (incl. LT leases)867
− Cash & equivalents247
Net debt676

Net debt / LTM EBITDA: 0.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02505007501 0001 2502024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-100%0%100%200%300%400%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-10001002003004005002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

05001 0001 5002 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 1.78x of reported net profit; after capex, 0.90x.
year202320242025
cash flow / profit1.12x3.55x1.78x
accruals, % of assets-1.5%-9.2%-6.9%
Last twelve months (to 2026-06-30): 1.58x of profit came back as operating cash flow.
net debt / EBITDA 1.0x · EBIT covers interest 7.9x · capex 1.6x of depreciation · dividends 18% of free cash flow
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

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

Oil and Gas E and P

Proved reserves
18 141 900 mln cfe
2025
Reserve life (R/P)
11.8 yrs
reserves ÷ annual output
Annual production
1 539 233 mln cfe
2025

Production, mln cfe

1 561 56120201 349 17420212 077 29820221 388 05120231 564 44520241 539 2332025

Proved reserves

YearReserves, mln cfe
202518 141 900
202418 131 500
202318 113 100
202218 077 700
202117 775 500
202017 203 100
201918 192 000
201818 072 400

Production

YearProduction, mln cfeper day, mln cfe
2026209 893 * (6M)
−77.1%		1 149
20251 539 233
−1.6%		4 217
20241 564 445
+12.7%		4 286
20231 388 051
−33.2%		3 803
20222 077 298
+54.0%		5 691
20211 349 174
−13.6%		3 696
20201 561 5614 278
20191 022 882 * (6M)5 601

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Henry Hub Gas

Current 3spot vs LTM -21%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -37.8% ▼ -0.0 pp 1d

Main driver: Henry Hub Gas -22% vs LTM; revenue ×1.05 vs costs ×1.03; EBITDA 1 291→1 287; at 8.3× EV/EBITDA → -38%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Henry Hub Gas (rev)+65%2.633.383.12-22%-8%
Propane (Texas, USD/gallon) (rev)+25%1.130.700.78+61%+10%
WTI Crude Oil (rev)+10%103.4471.9676.73+44%+7%
Henry Hub Gas (cost)-5%2.633.383.12-22%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue3 229
LTM EBITDA1 291
LTM cash costs (revenue − EBITDA)1 938
2 · Revenue projection
Revenue multiplier — spot×1.052 (+5%)
= Spot revenue3 396
Revenue multiplier — 3y price×0.982 (-2%)
= 3-year-price revenue3 171
3 · Costs projection
Cost multiplier — spot×1.027 (+3%)
= Spot cash costs1 990
Cost multiplier — 3y price×1.034 (+3%)
= 3-year-price cash costs2 004
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 406
= 3-year-price EBITDA1 167
Conservative EBITDA = min(spot, avg)1 287
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)8.3x
Target EV = EV/EBITDA × conservative EBITDA10 706
Net debt620
Hedge book at scenario price (net debt adjustment)+298 $M
Target market cap = EV − net debt10 384
Current market cap9 492

Upside = target market cap ÷ current − 1 = -37.8%

Life of mine: 7 yrs — before haircut +9.4%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q1645755-14.5%197268-26.4%
2024 Q2530679-21.9%98200-51.3%
2024 Q3615632-2.7%157173-9.3%
2024 Q4635794-20.0%157328-52.2%
2025 Q1691860-19.7%200382-47.6%
2025 Q2856712+20.2%394231+70.6%
2025 Q3749662+13.1%277178+55.3%
2025 Q4820786+4.3%331294+12.4%
2026 Q11 034730+41.6%522242+115.4%
2026 Q2760837-9.3%295346-14.9%

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)

373.3373.3373.3373.3373.320252025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves life (R/P): 22.1 yr

3017301730173017301720252025Proved 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)
2025-12-31373.33,016.7——

2025-12-31 · FY

Production & proved reserves

FY2025 production 2.24 Bcfe/d and proved reserves 18.1 Tcfe from Range press release. Converted at 6 Mcf per boe: Mboe/d = Bcfe/d × 1000 ÷ 6; MMboe = Bcfe ÷ 6.

Line itemAmount
Crude oil equivalent (net, Mboe/d)373.3
Proved reserves (net, MMboe)3,016.7

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 Items 1-2 'Production, Sales Price and Production Costs' (rrc-20251231.htm). Sales prices exclude derivatives and third-party TGP/processing.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil2 MMBbls53.68 USD/bbl106.13.8%
Natural gas560,892 MMcf3.08 USD/Mcf1,727.561.4%
NGLs40.6 MMBbls24.15 USD/bbl979.334.8%
Total (implied product revenue)2,812.9100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)3,115.5USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)102.6USD mln
Depreciation, depletion & amortization370.5USD mln
General & administrative178.3USD mln
Exploration expense30.2USD mln
Interest expense104.9USD mln
Impairment — oil & gas properties0USD mln
Income tax expense (benefit)173.7USD mln
Total costs and expenses (consolidated)2,283.8USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

No production / reserves detail wired for this fiscal year yet.

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)2,417.1USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)99.7USD mln
Depreciation, depletion & amortization358.4USD mln
General & administrative172.1USD mln
Exploration expense26.8USD mln
Interest expense118.8USD mln
Impairment — oil & gas properties0USD mln
Income tax expense (benefit)-15.7USD mln
Total costs and expenses (consolidated)2,166.5USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

No production / reserves detail wired for this fiscal year yet.

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)3,374.9USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)97USD mln
Depreciation, depletion & amortization350.2USD mln
General & administrative164.7USD mln
Exploration expense26.5USD mln
Interest expense124USD mln
Income tax expense (benefit)229.2USD mln
Total costs and expenses (consolidated)2,274.5USD mln

Primary SEC filing for this FY (HTML)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +29% vs -28% the year before — a +57.3 pp move. 3-year CAGR —.
revenue growth by year: 2024 -28% · 2025 +29%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.4x · target 75th pct (3y) 8.3x · LTM avg 6.1x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: energy (US). Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Matador Resources CompanyUS7.43.5x
Chord Energy CorporationUS8.73.6x
APA CorporationUS18.33.7x
SM Energy CompanyUS9.54.8x
Permian Resources CorporationUS19.25.4x
Ovintiv Inc.US20.05.4x
EQT CorporationUS34.86.0x
Devon Energy CorporationUS40.06.2x
EOG Resources, Inc.US86.26.5x
Antero Resources CorporationUS12.47.3x
Canadian Natural Resources LimitedUS115.58.6x
Diamondback Energy, Inc.US57.710.8x
Group median5.7x
Group average6.0x
This companyUS10.78.0x

Group median 5.7x; this company 8.0x — a 40% premium.

Group average 6.0x; against the average this company is at a 34% premium.

At the adjusted group median the market cap would be -32% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.4x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 17.0x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-25; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-110.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2026-06-120.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2026-03-130.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-12-120.09 USDEx-dividend: 0.09 USD per sharePaidYahoo Finance (ex-div)
2025-09-120.09 USDEx-dividend: 0.09 USD per sharePaidYahoo Finance (ex-div)
2025-06-130.09 USDEx-dividend: 0.09 USD per sharePaidYahoo Finance (ex-div)
2025-03-140.09 USDEx-dividend: 0.09 USD per sharePaidYahoo Finance (ex-div)
2024-12-130.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2024-09-130.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2024-06-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2024-03-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2023-12-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2023-09-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2023-06-150.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2023-03-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2022-12-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)
2022-09-140.08 USDEx-dividend: 0.08 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

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

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

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Range Resources Corporation (RRC) — from primary filings.

Frequently asked questions

What is Range Resources Corporation (RRC)'s P/E ratio?
Range Resources Corporation (RRC) trades at a P/E of 12.5x (price to trailing 12-month earnings).
What is Range Resources Corporation (RRC)'s EV/EBITDA?
Range Resources Corporation (RRC) trades at 8.0x EV/EBITDA.
What is Range Resources Corporation (RRC)'s P/B ratio?
Range Resources Corporation (RRC) trades at a P/B of 2.5x.
What is Range Resources Corporation (RRC)'s dividend yield?
Range Resources Corporation (RRC)'s trailing 12-month dividend yield is 0.9%.
What is Range Resources Corporation (RRC)'s return on equity (ROE)?
Range Resources Corporation (RRC)'s ROE is 16.8%.
What is Range Resources Corporation (RRC)'s market capitalization?
Range Resources Corporation (RRC)'s market cap is 10.7 bn USD.

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