Antero Resources (AR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Antero Resources

NYSE•Energy•Oil & Gas E&P

$41.38+1.22(0.03%)Market open

Market Cap

$12.94B

P/E

9.2x

P/S

2.0x

P/B

1.5x

Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Production; Marketing; and Equity Method Investment in Antero Midstream. As of December 31, 2025, the company had approximately 537,000 net acres in the Appalachian Basin; and approximately 168,000 net acres in the Upper Devonian Shale. Its gathering and compression systems also comprise 731 miles of gas gathering pipelines in the Appalachian Basin. The company was formerly known as Antero Resources Appalachian Corporation and changed its name to Antero Resources Corporation in June 2013. Antero Resources Corporation was incorporated in 2002 and is headquartered in Denver, Colorado.

How this company scores

ExcellentMetricSide Score: 88/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (13/25).

Profitability25/25

Growth25/25

Balance Sheet & Red Flags13/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.2x5y range 2.7x – 118.0x

Currently below its 18-quarter median.

P/S · 2.0x5y range 0.9x – 2.8x

Currently near its 20-quarter median.

P/B · 1.5x5y range 1.0x – 1.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Leverage Risk

Watch

Debt-to-equity has risen 51.6% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $12.94B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.48B
Q. Revenue: $1.56B
TTM EBITDA: $2.65B
TTM Op. Income: $1.79B
Q. Op. Income: $391.78M
TTM Net Income: $1.40B
Q. Net Income: $367.14M
EPS: $1.19
Shares Out.: $307.41M

$6.48B in TTM revenue grew 28.7% YoY, reaching $1.56B last quarter. TTM EBITDA of $2.65B and TTM operating income of $1.79B show growth is flowing through to the bottom line. TTM net income of $1.40B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 40.5%
Op. Margin: 25.1%
Net Margin: 23.5%

Op. margin of 25.1% is up 15.3% YoY — cost efficiency is improving. Net margin at 23.5% Over the past year, operating margin is up 158% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 9.2x
P/S Ratio: 2.0x
P/B Ratio: 1.5x

At 9.2x P/E, the stock trades below typical market levels. P/S of 2.0x and P/B of 1.5x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 7 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $15.58B
Cash: N/A
Long-Term Debt: $2.33B
Book Value: $8.64B
D/E Ratio: 0.3
Debt/EBITDA: 3.7

With $15.58B in assets and $2.33B in long-term debt, D/E is 0.3and book value is $8.64B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $575.20M
TTM Free Cash Flow: $1.28B
FCF Margin: 19.7%
FCF / Net Income: 0.9

TTM FCF of $1.28B on $575.20M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 40% — an improving trend.