Comprehensive Stock Comparison
Compare Expand Energy Corporation (EXE) vs Antero Resources Corporation (AR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | EXE | 187.2% revenue growth vs AR's 28.1% |
| Value | AR | Lower P/E (11.3x vs 12.0x) |
| Quality / Margins | EXE | 15.0% net margin vs AR's 11.1% |
| Stability / Safety | EXE | Beta 0.49 vs AR's 1.02 |
| Dividends | EXE | 100.0% yield, 1-year raise streak, vs AR's 1.1% |
| Momentum (1Y) | EXE | +11.8% vs AR's +0.3% |
| Efficiency (ROA) | EXE | 6.4% ROA vs AR's 4.2%, ROIC 7.4% vs 5.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Expand Energy Corporation is an independent oil and gas exploration and production company focused on unconventional natural gas resources in the United States. It generates revenue primarily from natural gas sales — with additional contributions from oil and natural gas liquids — through its extensive portfolio of approximately 5,000 wells across key shale plays like the Marcellus and Haynesville formations. The company's competitive advantage lies in its large-scale, low-cost position in premier natural gas basins and its operational expertise in unconventional resource development.
Antero Resources is an independent natural gas and natural gas liquids producer focused on the Appalachian Basin. It generates revenue primarily from natural gas sales (~60% of revenue), natural gas liquids sales (~35%), and oil sales (~5%), with its production heavily weighted toward liquids-rich gas. The company's competitive advantage lies in its massive, contiguous acreage position in the Marcellus and Utica shale plays — which provides operational efficiency and significant low-cost reserves.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
EXE leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
EXE is the larger business by revenue, generating $12.1B annually — 2.5x AR's $4.9B. Profitability is closely matched — net margins range from 15.0% (EXE) to 11.1% (AR). On growth, EXE holds the edge at +63.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXEExpand Energy Cor… | ARAntero Resources … |
|---|---|---|
| RevenueTrailing 12 months | $12.1B | $4.9B |
| EBITDAEarnings before interest/tax | $5.3B | $1.4B |
| Net IncomeAfter-tax profit | $1.8B | $548M |
| Free Cash FlowCash after capex | $1.8B | $1.3B |
| Gross MarginGross profit ÷ Revenue | +80.4% | +19.4% |
| Operating MarginEBIT ÷ Revenue | +18.8% | +11.9% |
| Net MarginNet income ÷ Revenue | +15.0% | +11.1% |
| FCF MarginFCF ÷ Revenue | +15.2% | +26.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +63.7% | +19.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +2.3% | +4.7% |
Valuation Metrics
At 14.3x trailing earnings, EXE trades at a 21% valuation discount to AR's 18.1x P/E. On an enterprise value basis, EXE's 5.0x EV/EBITDA is more attractive than AR's 9.1x.
| Metric | EXEExpand Energy Cor… | ARAntero Resources … |
|---|---|---|
| Market CapShares × price | $25.7B | $11.4B |
| Enterprise ValueMkt cap + debt − cash | $25.1B | $14.9B |
| Trailing P/EPrice ÷ TTM EPS | 14.26x | 18.13x |
| Forward P/EPrice ÷ next-FY EPS est. | 12.05x | 11.26x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 5.00x | 9.11x |
| Price / SalesMarket cap ÷ Revenue | 2.12x | 2.15x |
| Price / BookPrice ÷ Book value/share | 0.00x | 1.49x |
| Price / FCFMarket cap ÷ FCF | 13.98x | 6.96x |
Profitability & Efficiency
EXE delivers a 9.8% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $7 for AR. On the Piotroski fundamental quality scale (0–9), AR scores 9/9 vs EXE's 8/9, reflecting strong financial health.
| Metric | EXEExpand Energy Cor… | ARAntero Resources … |
|---|---|---|
| ROE (TTM)Return on equity | +9.8% | +7.3% |
| ROA (TTM)Return on assets | +6.4% | +4.2% |
| ROICReturn on invested capital | +7.4% | +5.9% |
| ROCEReturn on capital employed | +8.1% | +7.6% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 9 |
| Debt / EquityFinancial leverage | — | 0.46x |
| Net DebtTotal debt minus cash | -$616M | $3.5B |
| Cash & Equiv.Liquid assets | $616M | — |
| Total DebtShort + long-term debt | $0 | $3.5B |
| Interest CoverageEBIT ÷ Interest expense | 9.91x | 7.97x |
Total Returns (with DRIP)
A $10,000 investment in AR five years ago would be worth $37,561 today (with dividends reinvested), compared to $28,500 for EXE. Over the past 12 months, EXE leads with a +11.8% total return vs AR's +0.3%. The 3-year compound annual growth rate (CAGR) favors EXE at 13.0% vs AR's 12.0% — a key indicator of consistent wealth creation.
| Metric | EXEExpand Energy Cor… | ARAntero Resources … |
|---|---|---|
| YTD ReturnYear-to-date | -1.7% | +7.6% |
| 1-Year ReturnPast 12 months | +11.8% | +0.3% |
| 3-Year ReturnCumulative with dividends | +44.3% | +40.5% |
| 5-Year ReturnCumulative with dividends | +185.0% | +275.6% |
| 10-Year ReturnCumulative with dividends | +197.4% | +63.5% |
| CAGR (3Y)Annualised 3-year return | +13.0% | +12.0% |
Risk & Volatility
EXE is the less volatile stock with a 0.49 beta — it tends to amplify market swings less than AR's 1.02 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | EXEExpand Energy Cor… | ARAntero Resources … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.49x | 1.02x |
| 52-Week HighHighest price in past year | $126.62 | $44.02 |
| 52-Week LowLowest price in past year | $91.02 | $29.10 |
| % of 52W HighCurrent price vs 52-week peak | +85.2% | +83.6% |
| RSI (14)Momentum oscillator 0–100 | 50.9 | 50.5 |
| Avg Volume (50D)Average daily shares traded | 2.9M | 5.0M |
Analyst Outlook
Wall Street rates EXE as "Buy" and AR as "Buy". Consensus price targets imply 27.7% upside for EXE (target: $138) vs 20.2% for AR (target: $44). For income investors, EXE offers the higher dividend yield at 100.00% vs AR's 1.09%.
| Metric | EXEExpand Energy Cor… | ARAntero Resources … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $137.80 | $44.25 |
| # AnalystsCovering analysts | 19 | 50 |
| Dividend YieldAnnual dividend ÷ price | +100.0% | +1.1% |
| Dividend StreakConsecutive years of raises | 1 | 2 |
| Dividend / ShareAnnual DPS | $3182.59 | $0.40 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.4% | +1.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 21 | Feb 26 | Change |
|---|---|---|---|
| Expand Energy Corpo… (EXE) | 100 | 249.86 | +149.9% |
| Antero Resources Co… (AR) | 100 | 342.86 | +242.9% |
Antero Resources Co… (AR) returned +276% over 5 years vs Expand Energy Corpo… (EXE)'s +185%. A $10,000 investment in AR 5 years ago would be worth $37,561 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Expand Energy Corpo… (EXE) | $7.9B | $12.1B | +54.0% |
| Antero Resources Co… (AR) | $1.8B | $5.3B | +200.6% |
Expand Energy Corporation's revenue grew from $7.9B (2016) to $12.1B (2025) — a 4.9% CAGR. Antero Resources Corporation's revenue grew from $1.8B (2016) to $5.3B (2025) — a 13.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Expand Energy Corpo… (EXE) | -55.8% | 15.0% | +126.9% |
| Antero Resources Co… (AR) | -48.4% | 12.0% | +124.9% |
Expand Energy Corporation's net margin went from -56% (2016) to 15% (2025). Antero Resources Corporation's net margin went from -48% (2016) to 12% (2025).
Chart 4P/E Ratio History — 6 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Expand Energy Corpo… (EXE) | 1.2 | 14.6 | +1116.7% |
| Antero Resources Co… (AR) | 9.8 | 17 | +73.5% |
Expand Energy Corporation has traded in a 1x–15x P/E range over 4 years; current trailing P/E is ~14x. Antero Resources Corporation has traded in a 5x–195x P/E range over 5 years; current trailing P/E is ~18x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Expand Energy Corpo… (EXE) | -1,278 | 7.57 | +100.6% |
| Antero Resources Co… (AR) | -2.88 | 2.03 | +170.5% |
Expand Energy Corporation's EPS grew from $-1278.00 (2016) to $7.57 (2025). Antero Resources Corporation's EPS grew from $-2.88 (2016) to $2.03 (2025).
Chart 6Free Cash Flow — 5 Years
Expand Energy Corporation generated $2B FCF in 2025 (+75% vs 2021). Antero Resources Corporation generated $2B FCF in 2025 (+6% vs 2021).
EXE vs AR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EXE or AR a better buy right now?
Expand Energy Corporation (EXE) offers the better valuation at 14.3x trailing P/E (12.0x forward), making it the more compelling value choice. Analysts rate Expand Energy Corporation (EXE) a "Buy" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — EXE or AR?
On trailing P/E, Expand Energy Corporation (EXE) is the cheapest at 14.3x versus Antero Resources Corporation at 18.1x. On forward P/E, Antero Resources Corporation is actually cheaper at 11.3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — EXE or AR?
Over the past 5 years, Antero Resources Corporation (AR) delivered a total return of +275.6%, compared to +185.0% for Expand Energy Corporation (EXE). A $10,000 investment in AR five years ago would be worth approximately $38K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EXE returned +197.4% versus AR's +63.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — EXE or AR?
By beta (market sensitivity over 5 years), Expand Energy Corporation (EXE) is the lower-risk stock at 0.49β versus Antero Resources Corporation's 1.02β — meaning AR is approximately 107% more volatile than EXE relative to the S&P 500.
05Which has better profit margins — EXE or AR?
Expand Energy Corporation (EXE) is the more profitable company, earning 15.0% net margin versus 12.0% for Antero Resources Corporation — meaning it keeps 15.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EXE leads at 16.8% versus 16.7% for AR. At the gross margin level — before operating expenses — AR leads at 94.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is EXE or AR more undervalued right now?
On forward earnings alone, Antero Resources Corporation (AR) trades at 11.3x forward P/E versus 12.0x for Expand Energy Corporation — 0.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EXE: 27.7% to $137.80.
07Which pays a better dividend — EXE or AR?
All stocks in this comparison pay dividends. Expand Energy Corporation (EXE) offers the highest yield at 100.0%, versus 1.1% for Antero Resources Corporation (AR).
08Is EXE or AR better for a retirement portfolio?
For long-horizon retirement investors, Expand Energy Corporation (EXE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.49), 100.0% yield, +197.4% 10Y return). Both have compounded well over 10 years (EXE: +197.4%, AR: +63.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between EXE and AR?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: EXE is a mid-cap deep-value stock; AR is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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