Antero Resources (AR) financial statements
Antero Resources reported revenue of $5.3B in fiscal 2025, up 10.4% a year over 9 years.
Net income was $634M and the operating margin 16.7%, against -45.2% in 2016.
The diluted share count rose 6% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Antero Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2B | $3.0B | $4.1B | $3.9B | $3.4B | $6.5B | $8.7B | $4.7B | $4.3B | $5.3B |
| Selling, general and admin | $239M | $251M | $240M | $179M | $134M | $145M | $173M | $225M | $229M | $233M |
| Operating income | -$976M | $740M | $72M | -$987M | -$953M | $24M | $2.5B | $396M | $460,000 | $884M |
| Interest expense | $254M | $269M | $287M | — | — | — | — | — | — | — |
| Pre-tax income | -$1.2B | $490M | -$175M | -$367M | -$1.7B | -$228M | $2.4B | $361M | -$24M | $890M |
| Income tax | -$496M | -$295M | -$129M | -$74M | -$397M | -$74M | $441M | $64M | -$118M | $216M |
| Net income | -$849M | $615M | -$398M | -$340M | -$1.3B | -$187M | $1.9B | $198M | $57M | $634M |
| EPS (diluted) | -$2.88 | $1.94 | -$1.26 | -$1.11 | -$4.65 | -$0.61 | $5.69 | $0.64 | $0.18 | $2.03 |
| Diluted shares | 295M | 316M | 316M | 306M | 272M | 308M | 329M | 312M | 313M | 312M |
| Operating margin | -45.2% | 24.5% | 1.7% | -25.0% | -28.1% | 0.4% | 29.1% | 8.5% | 0.0% | 16.7% |
| Net margin | -39.3% | 20.4% | -9.6% | -8.6% | -37.4% | -2.9% | 21.5% | 4.2% | 1.3% | 12.0% |
Balance sheet
Fiscal years, from Antero Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $32M | $28M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $210M |
| Receivables | $30M | $35M | $51M | $46M | $28M | $79M | $35M | $43M | $34M | $34M |
| Total current assets | $403M | $833M | $807M | $923M | $574M | $686M | $788M | $476M | $508M | $832M |
| Property, plant and equipment | $12.0B | $13.2B | $13.9B | $10.0B | $9.6B | $9.5B | $9.6B | $9.8B | $9.7B | $9.2B |
| Total assets | $14.3B | $15.3B | $15.5B | $15.2B | $13.2B | $13.9B | $14.1B | $13.5B | $13.0B | $13.2B |
| Total current liabilities | $817M | $762M | $854M | $1.0B | $983M | $2.1B | $1.8B | $1.5B | $1.4B | $1.5B |
| Long-term debt | $4.7B | $4.8B | $5.5B | $3.8B | $3.0B | $2.1B | $1.2B | $1.5B | $1.5B | $1.4B |
| Total liabilities | $6.5B | $6.4B | $7.0B | $8.2B | $7.1B | $7.8B | $7.1B | $6.4B | $5.8B | $5.5B |
| Shareholders' equity | $6.3B | $8.1B | $7.7B | $7.0B | $5.8B | $5.8B | $6.8B | $6.9B | $7.0B | $7.6B |
| Net debt | $4.7B | $4.8B | $5.5B | $3.8B | $3.0B | $2.1B | $1.2B | $1.5B | $1.5B | $1.2B |
Cash flow
Fiscal years, from Antero Resources's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.2B | $2.0B | $2.1B | $1.1B | $736M | $1.7B | $3.1B | $995M | $849M | $1.6B |
| Capital spending | — | $2.2B | $2.2B | $1.4B | $874M | $716M | $944M | — | — | — |
| Free cash flow | — | -$210M | -$129M | -$319M | -$139M | $944M | $2.1B | — | — | — |
| Stock-based compensation | $102M | $103M | $70M | $24M | $23M | $20M | $35M | $60M | $66M | $61M |
| Share buybacks (net) | — | — | -$129M | -$39M | -$43M | — | -$874M | -$75M | — | -$136M |
| Free cash flow margin | — | -7.0% | -3.1% | -8.1% | -4.1% | 14.5% | 24.2% | — | — | — |
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What was Antero Resources's revenue in 2025?
$5.3B in fiscal 2025, from its 10-K filing.
From Antero Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.