How Antero Resources makes money

Period

FY2025

How does Antero Resources make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Antero Resources Corporation · FY2025 · year ended 2025-12-31

Revenue$5.3BGross profit$5.3B · 100%Cost of revenue$0 · 0%Operating income$884M · 17%Operating expenses$4.4B · 83%SG&A$233M · 4%Other opex$4.2B · 79%Pre-tax income$850M · 16%Other expense$33M · 1%Net income$634M · 12%Income tax$216M · 4%Natural Gas Production$2.9B · 54%Natural Gas Liquids Sales$2.0B · 38%Oil & Condensate$150M · 3%Marketings$126M · 2%Commodity Derivative Fair Value Gains Losses$111M · 2%Amortization Of Deferred Revenue Vpp$25M · 0%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.