AR financial statements

The full income statement, balance sheet, and cash-flow statement for Antero Resources Corporation (AR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 311.0M2024-09 311.2M2024-12 311.2M2025-03 310.5M2025-06 308.9M2025-09 308.5M2025-12 308.5M2026-03 309.8M2026-06 307.4M-1.1% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	5.28B YoY+22.0%	4.33B YoY-7.6%	4.68B YoY-34.4%	7.14B YoY+54.5%	4.62B YoY+32.3%
Selling, general & administrative	233M YoY+1.4%	229M YoY+2.1%	225M YoY+29.8%	173M YoY+19.2%	145M YoY+7.8%
General & administrative	233M YoY+1.4%	229M YoY+2.1%	225M YoY+29.8%	173M YoY+19.2%	145M YoY+7.8%
Operating income	884M YoY+191997.0%	460K YoY-99.9%	396M YoY-84.4%	2.54B YoY+10542.7%	23.9M YoY+102.5%
Net interest income	—	—	-118M YoY+6.0%	-125M YoY+31.1%	-182M YoY+9.0%
Other non-operating income	6.79M YoY+127.2%	-24.9M YoY+29.3%	-35.3M YoY+64.4%	-99.2M YoY+60.6%	-252M YoY+64.2%
Equity-method income	98.5M YoY+5.0%	93.8M YoY+13.1%	83.0M YoY+14.7%	72.3M YoY-6.2%	77.1M YoY+223.0%
Pre-tax income	890M YoY+3736.2%	-24.5M YoY-106.8%	361M YoY-85.2%	2.44B YoY+1169.3%	-228M YoY+86.2%
Income tax	216M YoY+282.7%	-118M YoY-285.7%	63.6M YoY-85.6%	441M YoY+695.7%	-74.1M YoY+81.4%
	634M YoY+1008.6%	57.2M YoY-71.2%	198M YoY-89.4%	1.87B YoY+1314.5%	-154M YoY+87.8%
Net income to non-controlling interest	40.1M YoY+10.1%	36.5M YoY-63.1%	98.9M YoY-22.2%	127M YoY+287.9%	32.8M YoY+338.0%
Net income to common	634M YoY+1008.6%	57.2M YoY-71.2%	198M YoY-89.4%	1.87B YoY+1101.4%	-187M YoY+85.3%
	$2.03 YoY+1027.8%	$0.18 YoY-71.9%	$0.64 YoY-88.8%	$5.69 YoY+1032.8%	-$0.61 YoY+86.9%
EPS (basic)	$2.05 YoY+1038.9%	$0.18 YoY-72.7%	$0.66 YoY-89.2%	$6.09 YoY+1098.4%	-$0.61 YoY+86.9%
	310M YoY+0.1%	309M YoY+3.2%	300M YoY-2.4%	307M YoY-0.3%	308M YoY+13.1%
	312M YoY-0.3%	313M YoY+0.6%	312M YoY-5.4%	329M YoY+6.8%	308M YoY+13.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	832M YoY+63.9%	508M YoY+6.7%	476M YoY-39.6%	788M YoY+14.8%	686M YoY+19.5%
Cash & equivalents	210M	0.00	0.00	0.00	0.00
Accounts receivable	33.8M YoY-1.9%	34.4M YoY-19.3%	42.6M YoY+20.1%	35.5M YoY-55.1%	79.0M YoY+177.6%
Prepaid expenses	14.6M YoY+17.2%	12.4M YoY-3.7%	12.9M YoY-69.6%	42.5M YoY+184.5%	14.9M
Other current assets	10.8M YoY+78.9%	6.05M YoY-57.4%	14.2M YoY-55.5%	31.9M YoY+113.6%	14.9M YoY-2.1%
	13.2B YoY+1.8%	13.0B YoY-3.8%	13.5B YoY-4.3%	14.1B YoY+1.6%	13.9B YoY+5.7%
Operating lease right-of-use	2.13B YoY-16.4%	2.55B YoY-14.0%	2.97B YoY-13.9%	3.44B YoY+0.7%	3.42B YoY+30.9%
Other non-current assets	62.9M YoY+89.4%	33.2M YoY+30.9%	25.4M YoY+48.3%	17.1M YoY+2.5%	16.7M YoY+21.0%
	1.50B YoY+4.0%	1.45B YoY-0.4%	1.45B YoY-18.2%	1.77B YoY-14.2%	2.07B YoY+110.4%
Accounts payable	—	—	—	77.5M YoY+212.4%	24.8M YoY-7.1%
Accrued liabilities	339M YoY-15.8%	403M YoY+5.6%	381M YoY-17.4%	462M YoY+1.0%	457M YoY+33.1%
Deferred revenue	23.5M YoY-7.0%	25.3M YoY-6.8%	27.1M YoY-11.3%	30.6M YoY-18.8%	37.6M YoY-16.9%
Current lease liability	515M YoY+4.5%	493M YoY-8.6%	539M YoY-3.1%	556M YoY+22.0%	456M YoY+71.9%
Other current liabilities	26.7M YoY+739.5%	3.17M YoY+145.2%	1.29M YoY-24.1%	1.71M YoY-84.7%	11.1M YoY+383.9%
Finance lease liability (current)	1.54M YoY+21.2%	1.27M YoY+14.8%	1.11M YoY+121.6%	499K YoY+25.7%	397K YoY-53.0%
	5.53B YoY-4.6%	5.79B YoY-9.2%	6.38B YoY-10.1%	7.10B YoY-9.3%	7.83B YoY+10.9%
Long-term debt	1.40B YoY-6.1%	1.49B YoY-3.1%	1.54B YoY+29.9%	1.18B YoY-44.3%	2.13B YoY-29.2%
Deferred revenue (non-current)	11.9M YoY-66.3%	35.4M YoY-41.6%	60.7M YoY-30.9%	87.8M YoY-25.8%	118M YoY-24.1%
Non-current lease liability	1.61B YoY-21.4%	2.05B YoY-15.5%	2.43B YoY-16.0%	2.89B YoY-2.6%	2.96B YoY+26.2%
Operating lease liability (total)	2.13B YoY-16.4%	2.54B YoY-14.3%	2.96B YoY-13.9%	3.44B YoY+0.7%	3.42B YoY+30.9%
Finance lease liability (total)	3.49M YoY+30.8%	2.67M YoY-29.3%	3.77M YoY+74.7%	2.16M YoY+292.5%	550K YoY-54.4%
Finance lease liability	1.95M YoY+39.6%	1.40M YoY-47.7%	2.67M YoY+60.5%	1.66M YoY+985.0%	153K YoY-57.6%
Deferred tax liabilities	907M YoY+30.9%	693M YoY-14.6%	812M YoY+6.9%	760M YoY+138.9%	318M YoY-22.8%
Other non-current liabilities	57.1M YoY-7.8%	62.0M YoY+4.3%	59.4M YoY-0.4%	59.7M YoY+9.6%	54.5M YoY-8.8%
	7.55B YoY+7.5%	7.02B YoY+1.7%	6.90B YoY+2.2%	6.75B YoY+17.3%	5.76B YoY-0.2%
Common stock	3.08M YoY-0.8%	3.11M YoY+2.5%	3.04M YoY+2.1%	2.97M YoY-5.3%	3.14M YoY+16.9%
Additional paid-in capital	5.87B YoY-0.7%	5.91B YoY+1.1%	5.85B YoY+0.1%	5.84B YoY-8.4%	6.37B YoY+2.8%
Retained earnings	1.68B YoY+51.7%	1.11B YoY+5.4%	1.05B YoY+15.1%	914M YoY+248.0%	-617M YoY-43.4%
Treasury stock	—	—	—	1.16M	—
Non-controlling interest	165M YoY-15.4%	195M YoY-16.3%	233M YoY-11.4%	263M YoY-15.0%	309M YoY-4.2%
Total equity incl. non-controlling	7.72B YoY+6.9%	7.22B YoY+1.2%	7.13B YoY+2.2%	6.98B YoY+15.3%	6.06B YoY-0.5%
Total liabilities & equity	13.2B YoY+1.8%	13.0B YoY-3.8%	13.5B YoY-4.3%	14.1B YoY+1.6%	13.9B YoY+5.7%
	309M YoY-0.9%	311M YoY+2.5%	304M YoY+2.1%	297M YoY-5.3%	314M YoY+16.8%
	309M YoY-0.9%	311M YoY+2.5%	304M YoY+2.1%	297M YoY-5.3%	314M YoY+16.8%
	309M YoY-0.9%	311M YoY+2.5%	304M YoY+2.8%	295M YoY-6.2%	315M YoY+4.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.63B YoY+92.0%	849M YoY-14.6%	995M YoY-67.4%	3.05B YoY+83.8%	1.66B YoY+125.7%
Depreciation & amortization	750M YoY-1.6%	762M YoY+2.0%	747M YoY+4.4%	715M YoY-3.6%	742M YoY-13.9%
Share-based compensation	60.8M YoY-8.5%	66.5M YoY+11.7%	59.5M YoY+67.9%	35.4M YoY+73.4%	20.4M YoY-12.4%
Deferred income taxes	214M YoY+280.3%	-119M YoY-291.2%	62.0M YoY-85.9%	440M YoY+692.8%	-74.3M YoY+81.3%
Change in receivables	142K YoY+100.6%	-25.4M YoY-236.6%	-7.55M YoY+82.6%	-43.5M YoY-178.3%	55.6M YoY+485.4%
Change in payables	-2.35M YoY-106.6%	35.3M YoY+309.7%	-16.8M YoY-152.0%	32.4M YoY+2834.3%	-1.18M YoY+93.9%
	-1.08B YoY-50.9%	-714M YoY+37.4%	-1.14B YoY-20.9%	-944M YoY-32.8%	-711M YoY-34.1%
Capital expenditure	685M YoY+11.5%	615M YoY-36.2%	964M YoY+2.2%	944M YoY+31.9%	716M YoY-18.1%
Free cash flow	945M YoY+303.3%	234M YoY+671.8%	30.4M YoY-98.6%	2.11B YoY+123.2%	944M YoY+780.7%
Acquisitions	0.00	0.00	0.00	0.00	0.00
	-343M YoY-153.9%	-135M YoY-192.5%	146M YoY+106.9%	-2.11B YoY-122.0%	-949M YoY-361.8%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	136M	0.00 YoY-100.0%	75.4M YoY-91.4%	874M	0.00 YoY-100.0%
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	-1.54M YoY-39.1%	-1.11M YoY-33.3%	-830K YoY-44.3%	-575K YoY+33.1%	-859K YoY+33.5%
Net change in cash	210M	0.00	0.00	0.00	0.00
Interest paid	88.1M YoY-26.6%	120M YoY+5.4%	114M YoY-26.5%	155M YoY+9.2%	142M YoY-26.2%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	10.6B YoY-2.5%	10.9B YoY+60.0%	6.82B YoY-26.7%	9.30B YoY+68.9%	5.51B YoY+235.5%
P/E	16.8× YoY-91.2%	190.6× YoY+2280.4%	8.0×	—	—
P/S	2.0× YoY-20.1%	2.5× YoY+106.2%	1.2× YoY-2.1%	1.2× YoY+4.8%	1.2× YoY+153.6%
P/B	1.4× YoY-9.4%	1.6× YoY+56.4%	1.0× YoY-33.7%	1.5× YoY+56.5%	1.0× YoY+236.1%
P/FCF	11.2× YoY-75.8%	46.5× YoY+1094.6%	3.9× YoY-11.0%	4.4× YoY-25.0%	5.8×
	6.0% YoY+1037.3%	0.52% YoY-95.8%	12.5%	—	—
	8.9% YoY+313.7%	2.1% YoY-91.6%	25.7% YoY+12.4%	22.8% YoY+33.3%	17.1%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: AR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AR filings on SEC EDGAR → Not investment advice.