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Antero Resources Corp key statistics and ratios

In fiscal 2025, Antero Resources Corp had return on equity of 8.7% and a net margin of 12.0%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin56.8%−38.7%−1.4%24.8%23.8%−48.7%16.8%−9.6%−7.7%−36.3%−4.0%26.2%4.2%1.3%12.0%21.2%
Return on equity20.0%−15.7%−0.7%16.9%18.2%−13.9%8.5%−5.0%−4.6%−19.9%−3.2%29.9%2.9%0.8%8.7%17.0%
Return on assets—−7.9%−0.4%7.4%7.3%−6.0%4.2%−2.6%−2.2%−8.9%−1.4%13.4%1.4%0.4%4.8%9.5%
Effective tax rate40.6%35.0%—39.8%37.0%——————18.1%17.6%—24.2%21.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · September 30, 2026
What it owns · $15.6bn
Short-term assets $765mLonger-term assets $14.8bn
What it owes, and who funded it · $15.6bn
Short-term liabilities $1.9bnLonger-term liabilities $5.0bnShareholders' equity $8.6bn
  • Short-term assets cover short-term liabilities $765m of assets due within a year against $1.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $765m short-term assets against $5.0bn of longer-dated liabilities.
  • More cash than debt $0 of cash against $2.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 27% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 36% to 27% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.2bn of operating cash flow against $2.3bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Antero Resources Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

41 /100

Weak moat

How hard Antero Resources's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.7% of total assets over 10 years.

  • Durability 1 / 20

    Operating margin has been a median 8.5%; its worst year was -32.0%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 8 of 10 years, at a median 16.4% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 4.6% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Antero Resources Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Antero Resources Corp.