15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.6% per year over the past 5 years.
Operating margin has expanded, at 16.7% in the latest year.
Financial health
Total debt ($1.4B) exceeds cash ($210M); net debt is $1.2B.
Total debt has grown slower than revenue (-14.2% vs 8.6% per year).
Total debt is 0.9× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$5.3B
$675M
0.0%
16.7%
—
$1.4B
$210M
2024
$4.3B
$94M
0.0%
0.0%
—
$1.5B
$0
2023
$4.7B
$297M
0.0%
8.5%
—
$1.5B
$0
2022
$7.1B
$2.0B
0.0%
35.6%
$2.1B
$1.2B
$0
2021
$4.6B
-$162M
0.0%
0.5%
$944M
$2.1B
$0
2020
$3.5B
—
0.0%
-27.3%
-$139M
$3.0B
$0
2019
$4.4B
—
0.0%
-22.4%
-$319M
$3.8B
$0
2018
$4.1B
—
0.0%
1.7%
-$129M
$5.5B
$0
2017
$3.7B
—
0.0%
20.2%
-$210M
$4.8B
$28M
2016
$1.7B
—
0.0%
-55.9%
—
$4.7B
$32M
2015
$4.0B
—
0.0%
45.3%
—
$4.7B
$23M
2014
$2.7B
$676M
0.0%
47.8%
-$3.1B
$4.4B
—
2013
$1.3B
-$19M
0.0%
26.0%
-$2.1B
—
—
2012
$736M
-$285M
0.0%
60.4%
—
—
—
2011
$691M
$393M
0.0%
76.8%
—
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$1.9B
$548M
0.0%
37.5%
—
$2.7B
$0
Dec '25
$1.4B
$203M
0.0%
20.5%
—
$1.4B
$210M
Sep '25
$1.2B
$86M
0.0%
9.7%
—
$1.3B
$0
Jun '25
$1.3B
$167M
0.0%
15.8%
—
$1.1B
$0
Mar '25
$1.4B
$219M
0.0%
20.1%
—
$1.3B
$0
Dec '24
$1.2B
$159M
0.0%
4.9%
—
$1.5B
$0
Sep '24
$1.1B
-$25M
0.0%
-2.4%
—
$1.6B
$0
Jun '24
$979M
-$75M
0.0%
-8.2%
—
$1.6B
$0
Mar '24
$1.1B
$35M
0.0%
4.3%
—
$1.5B
$0
Dec '23
$1.2B
$71M
0.0%
8.2%
—
$1.5B
$0
Sep '23
$1.1B
$33M
0.0%
4.9%
—
$1.6B
$0
Jun '23
$953M
-$68M
0.0%
-9.3%
—
$1.5B
$0
Mar '23
$1.4B
$261M
0.0%
23.5%
-$7M
$1.3B
$0
Dec '22
$2.1B
$794M
0.0%
45.2%
$253M
$1.2B
$0
Sep '22
$2.1B
$595M
0.0%
37.5%
$843M
$1.2B
$0
Jun '22
$2.2B
$812M
0.0%
48.2%
$662M
$1.6B
$0
Mar '22
$787M
-$175M
0.0%
-26.0%
$350M
$2.0B
$0
Dec '21
$2.4B
$958M
0.0%
52.5%
$270M
$2.1B
$0
Sep '21
$534M
-$567M
0.0%
-128.1%
-$75M
$2.3B
$0
Jun '21
$487M
-$534M
0.0%
-132.0%
$126M
$2.4B
$5M
Valuation over time
How the market has priced AR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 3.6× (Mar '23) to 15.8× (Jun '26).
The price-to-sales ratio has risen from 1.0× (Mar '23) to 2.0× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is AR growing its revenue and profit?
Over the past 5 years, Antero Resources Corp's revenue has grown 8.6% per year. These are computed facts, not advice.
How much debt does AR have?
As of FY2025, Antero Resources Corp reported $1.4B of total debt against $210M of cash.
What is AR's profit margin?
In FY2025, gross margin was —, operating margin 16.7%, and net margin 12.8%.
What is AR's P/E ratio?
As of Jun '26, Antero Resources Corp traded at a price-to-earnings ratio of about 15.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.