Antero Resources Corporation (AR) Financial Ratios
15 years of historical data (2011–2025) · Energy · Oil & Gas Exploration & Production
EV/EBITDA
↓
9.61
↓-18% vs avg
5yr avg: 11.67
30Y Low4.2·High32.4
P/FCF
↑
8.28
+6% vs avg
5yr avg: 7.78
30Y Low0.9·High94.8
P/B Ratio
↑
1.34
+8% vs avg
5yr avg: 1.25
30Y Low0.1·High4.6
ROE
↑
8.5%
↓+13% vs avg
5yr avg: 7.5%
30Y Low-19%·High29%
Debt/EBITDA
↓
3.24
↓-23% vs avg
5yr avg: 4.21
30Y Low1.4·High7.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Antero Resources Corporation trades at 16.4x earnings, 74% below its 5-year average of 63.1x, sitting at the 57th percentile of its historical range. Compared to the Energy sector median P/E of 15.5x, the stock trades at a premium of 6%. On a free-cash-flow basis, the stock trades at 8.3x P/FCF, 6% above the 5-year average of 7.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.3B | $10.8B | $11.0B | $7.1B | $10.2B | $5.4B | $1.5B | $873M | $3.0B | $6.0B | $7.0B |
| Enterprise Value | $15.2B | $15.7B | $15.0B | $11.6B | $14.8B | $10.9B | $7.1B | $7.5B | $8.4B | $10.8B | $11.6B |
| P/E Ratio → | 16.36 | 16.98 | 194.72 | 35.44 | 5.45 | — | — | — | — | 9.79 | — |
| P/S Ratio | 2.05 | 2.15 | 2.67 | 1.65 | 1.23 | 0.93 | 0.48 | 0.24 | 0.81 | 2.18 | 3.97 |
| P/B Ratio | 1.34 | 1.40 | 1.52 | 0.99 | 1.45 | 0.89 | 0.24 | 0.13 | 0.35 | 0.68 | 0.90 |
| P/FCF | 8.28 | 8.66 | 14.70 | 8.54 | 3.53 | 3.49 | 2.16 | 0.93 | 2.18 | 5.61 | 94.79 |
| P/OCF | 6.31 | 6.60 | 12.93 | 7.10 | 3.34 | 3.25 | 2.02 | 0.79 | 1.43 | 3.00 | 5.62 |
P/E links to full P/E history page with 30-year chart
AR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Antero Resources Corporation's enterprise value stands at 9.6x EBITDA, 18% below its 5-year average of 11.7x. The Energy sector median is 7.8x, placing the stock at a 23% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.13 | 3.65 | 2.70 | 1.79 | 1.89 | 2.30 | 2.06 | 2.31 | 3.91 | 6.64 |
| EV / EBITDA | 9.61 | 9.91 | 19.60 | 10.10 | 4.55 | 14.21 | — | — | 8.05 | 6.88 | — |
| EV / EBIT | 18.34 | 16.11 | 160.25 | 24.17 | 5.78 | — | — | — | 75.18 | 14.21 | — |
| EV / FCF | — | 12.62 | 20.10 | 13.99 | 5.14 | 7.08 | 10.33 | 8.04 | 6.20 | 10.06 | 158.29 |
AR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Antero Resources Corporation earns an operating margin of 16.5%, above the Energy sector average of 13.8%. Operating margins have expanded from 9.3% to 16.5% over the past 3 years, signaling improving operational efficiency. ROE of 8.5% is modest. ROIC of 5.2% represents adequate returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.1% | 22.1% | 7.9% | 14.3% | 55.3% | 39.0% | -16.7% | 8.5% | 29.5% | 23.8% | -3.1% |
| Operating Margin | 16.5% | 16.5% | 0.0% | 9.3% | 30.6% | 0.4% | -30.9% | -27.1% | 2.0% | 26.8% | -55.6% |
| Net Profit Margin | 12.7% | 12.7% | 1.4% | 4.6% | 22.6% | -3.2% | -41.1% | -9.3% | -10.9% | 22.3% | -48.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.5% | 8.5% | 0.8% | 2.8% | 28.6% | -3.1% | -19.4% | -4.4% | -4.6% | 7.4% | -11.3% |
| ROA | 4.6% | 4.6% | 0.4% | 1.4% | 13.4% | -1.4% | -8.9% | -2.2% | -2.6% | 4.2% | -6.0% |
| ROIC | 5.2% | 5.2% | 0.0% | 2.6% | 16.4% | 0.2% | -5.6% | -5.4% | 0.4% | 4.3% | -6.0% |
| ROCE | 6.8% | 6.8% | 0.0% | 3.2% | 21.0% | 0.2% | -7.2% | -6.8% | 0.5% | 5.3% | -7.3% |
AR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Antero Resources Corporation carries a Debt/EBITDA ratio of 3.2x, which is moderately leveraged (25% above the sector average of 2.6x). Net debt stands at $4.9B ($5.1B total debt minus $210M cash). Interest coverage of 11.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.67 | 0.67 | 0.56 | 0.63 | 0.66 | 0.91 | 0.92 | 0.95 | 0.64 | 0.54 | 0.61 |
| Debt / EBITDA | 3.24 | 3.24 | 5.26 | 3.93 | 1.42 | 7.21 | — | — | 5.22 | 3.06 | — |
| Net Debt / Equity | — | 0.64 | 0.56 | 0.63 | 0.66 | 0.91 | 0.92 | 0.95 | 0.64 | 0.54 | 0.60 |
| Net Debt / EBITDA | 3.11 | 3.11 | 5.26 | 3.93 | 1.42 | 7.21 | — | — | 5.22 | 3.04 | — |
| Debt / FCF | — | 3.96 | 5.40 | 5.45 | 1.60 | 3.59 | 8.17 | 7.11 | 4.02 | 4.45 | 63.50 |
| Interest Coverage | 11.64 | 11.64 | 0.79 | 4.06 | 20.46 | -0.25 | -7.29 | -0.61 | 0.39 | 2.82 | -3.91 |
AR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.55x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.33x to 0.55x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.55 | 0.55 | 0.35 | 0.33 | 0.44 | 0.33 | 0.58 | 0.89 | 0.95 | 1.09 | 0.49 |
| Quick Ratio | 0.55 | 0.55 | 0.35 | 0.33 | 0.44 | 0.33 | 0.58 | 0.89 | 0.95 | 1.09 | 0.49 |
| Cash Ratio | 0.14 | 0.14 | — | — | — | — | — | — | — | 0.04 | 0.04 |
| Asset Turnover | — | 0.35 | 0.32 | 0.32 | 0.59 | 0.42 | 0.23 | 0.24 | 0.24 | 0.18 | 0.12 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 36.93 | 43.25 | 37.82 | 32.68 | 42.25 | 53.71 | 49.01 | 52.55 | 44.29 | 60.65 |
AR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Antero Resources Corporation returns 1.3% to shareholders annually primarily through share buybacks. The earnings yield of 6.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.1% | 5.9% | 0.5% | 2.8% | 18.4% | — | — | — | — | 10.2% | — |
| FCF Yield | 12.1% | 11.5% | 6.8% | 11.7% | 28.3% | 28.7% | 46.3% | 107.1% | 45.8% | 17.8% | 1.1% |
| Buyback Yield | 1.3% | 1.3% | 0.3% | 1.1% | 8.6% | 0.2% | 2.9% | 4.4% | 4.3% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 1.3% | 0.3% | 1.1% | 8.6% | 0.2% | 2.9% | 4.4% | 4.3% | 0.0% | 0.0% |
| Shares Outstanding | — | $312M | $313M | $312M | $329M | $308M | $272M | $306M | $316M | $316M | $295M |
Peer Comparison
Compare AR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ARYou | $10B | 16.4 | 9.6 | 8.3 | 22.1% | 16.5% | 8.5% | 5.2% | 3.2 |
 EQT | $32B | 15.3 | 6.8 | 11.2 | 48.9% | 34.7% | 7.9% | 6.9% | 1.4 |
 RRC | $9B | 13.3 | 8.0 | 14.5 | 34.1% | 27.9% | 15.9% | 11.4% | 1.0 |
 CNX | $5B | 8.2 | 5.2 | 8.7 | 47.2% | 36.8% | 15.0% | 9.0% | 1.8 |
 CTRA | $25B | 14.5 | 5.9 | 15.1 | 60.4% | 89.1% | 12.3% | 10.9% | 0.8 |
 AM | $10B | 25.2 | 15.7 | 13.4 | 65.3% | 51.2% | 20.2% | 9.4% | 3.8 |
 GPOR | $3B | 7.5 | 4.6 | 10.5 | 70.7% | 37.9% | 23.9% | 14.8% | 1.0 |
 CRK | $4B | 9.7 | 6.8 | — | 21.6% | 19.0% | 14.9% | 4.8% | 2.9 |
 ET | $65B | 13.9 | 9.1 | 16.8 | 21.8% | 11.4% | 10.2% | 6.3% | 4.9 |
 WMB | $89B | 34.2 | 17.6 | 89.0 | 42.9% | 36.8% | 17.5% | 7.7% | 4.4 |
 MPLX | $58B | 11.8 | 13.4 | 14.1 | 45.2% | 40.3% | 34.4% | 9.9% | 4.3 |
| Energy Median | — | 15.5 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 15 years · Updated daily
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AR — Frequently Asked Questions
Quick answers to the most common questions about buying AR stock.
What is Antero Resources Corporation's P/E ratio?
Antero Resources Corporation's current P/E ratio is 16.4x. The historical average is 40.6x. This places it at the 57th percentile of its historical range.
What is Antero Resources Corporation's EV/EBITDA?
Antero Resources Corporation's current EV/EBITDA is 9.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.8x.
What is Antero Resources Corporation's ROE?
Antero Resources Corporation's return on equity (ROE) is 8.5%. The historical average is 2.6%.
Is AR stock overvalued?
Based on historical data, Antero Resources Corporation is trading at a P/E of 16.4x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Antero Resources Corporation's profit margins?
Antero Resources Corporation has 22.1% gross margin and 16.5% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Antero Resources Corporation have?
Antero Resources Corporation's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.