Antero Resources (AR)

Energy · Oil & Gas E&P
$35.59 -0.36% on the day Market cap $11.5B 52-week range $29.10 to $45.75 Prices as of Oct 7, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

Antero Resources's free cash flow isn't comparable to its market value here, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

B

Five factors scored 1 to 9 from AR's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation8
Profitability6
Growth7
Financial health3

Key numbers

P/E (trailing)12.0x
P/E (forward)8.47x
Price / free cash flow9.23x
EV / EBITDA6.83x
Price / sales1.92x
Price / book1.34x
Revenue growth+7.3%
Operating margin25.4%
Net margin18.2%
Return on equity13.0%
Dividend yield—
Debt / equity0.83x

Results from SEC filings

Fiscal years, from Antero Resources's 10-K filings. The deep dive has 15+ years, quarters and every line.

Fiscal year20212022202320242025
Revenue$6.5B$8.7B$4.7B$4.3B$5.3B
Net income-$187M$1.9B$198M$57M$634M
Free cash flow$944M$2.1B———
EPS (diluted)-$0.61$5.69$0.64$0.18$2.03
Operating margin0.37%29.1%8.5%0.01%16.7%

Where the revenue comes from

Revenue by segments, fiscal 2025.

Exploration and production$5.1B80%
Antero Midstream Corporation$1.2B18%
Marketing$126M2%

Superinvestors who own AR

From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Cliff Asness
AQR Capital Management
Added $268M0.09%Q2 2026
Ric Dillon
Diamond Hill Capital Management
Added $100M0.80%Q2 2026
Joel Greenblatt
Gotham Asset Management
Trimmed $2M0.01%Q2 2026

Insider buying

Open-market purchases by Antero Resources's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

DateInsiderSharesPriceValue
Nov 7, 2025 Brendan E Krueger
5,000$33.35$166,750

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are Antero Resources insiders buying the stock?

1 open-market insider purchase of AR in the last 12 months, from SEC Form 4 filings.

Which superinvestors own Antero Resources?

3 of the superinvestors Investingly tracks hold AR in their latest 13F, including Cliff Asness, Ric Dillon, Joel Greenblatt.

Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.