Antero Resources
AR · Oil & Gas Exploration & Production
$40.16
2.9%California Resources
CRC · Oil & Gas Exploration & Production
$54.53
3.0%The short version
- Antero Resources is the larger business, with $5.3B of revenue in fiscal 2025 against $3.7B for California Resources.
- Antero Resources grew revenue faster (22.0%, against 14.7%).
- Antero Resources turned more of its sales into free cash flow (30.8% FCF margin, against 14.8% FCF margin).
- California Resources earned a higher return on the capital invested in it (9.5%, against 7.6%).
| Latest fiscal year | AR · FY25 | CRC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.5B | $4.9B |
| Revenue | $5.3B | $3.7B |
| Free cash flow | $1.6B | $543M |
| Net income | $675M | $363M |
| Growth | ||
| Revenue growth | 22.0% | 14.7% |
| 5-year growth | 8.6% | 6.9% |
| Share count change | −0.3% | 7.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.8% | 16.3% |
| Net margin | 12.8% | 9.9% |
| FCF margin | 30.8% | 14.8% |
| Return on capital | 7.6% | 9.5% |
| Return on equity | 9.3% | 10.1% |
| Balance sheet | ||
| Net debt | $1.2B | $1.2B |
| Net debt / EBITDA | 0.7x | 1.0x |
| Dividends and buybacks | $136M | $513M |
| Valuation & quality | ||
| P/E | 11.5x | — |
| Piotroski F-score | 8 | 4 |
FY16
AR $1.7B
CRC $1.5B
FY17
AR $3.7B
CRC $2.0B
FY18
AR $4.1B
CRC $3.1B
FY19
AR $4.4B
CRC $2.6B
FY20
AR $3.5B
CRC —
FY21
AR $4.6B
CRC $1.9B
FY22
AR $7.1B
CRC $2.7B
FY23
AR $4.7B
CRC $2.8B
FY24
AR $4.3B
CRC $3.2B
FY25
AR $5.3B
CRC $3.7B
AR
CRC
FY16
AR −55.9%
CRC −18.9%
FY17
AR 20.3%
CRC 3.6%
FY18
AR 1.7%
CRC 25.1%
FY19
AR −22.4%
CRC 16.3%
FY20
AR −27.3%
CRC —
FY21
AR 0.5%
CRC 15.5%
FY22
AR 35.6%
CRC 30.0%
FY23
AR 8.5%
CRC 28.9%
FY24
AR 0.0%
CRC 19.4%
FY25
AR 16.8%
CRC 16.3%
AR
CRC
FY16
AR $1.2B
CRC $55.0M
FY17
AR −$210M
CRC −$123M
FY18
AR −$129M
CRC −$229M
FY19
AR −$319M
CRC $221M
FY20
AR −$139M
CRC —
FY21
AR $944M
CRC $466M
FY22
AR $2.1B
CRC $311M
FY23
AR $978M
CRC $468M
FY24
AR $838M
CRC $355M
FY25
AR $1.6B
CRC $543M
AR
CRC
FY16
AR −6.3%
CRC −5.9%
FY17
AR 5.7%
CRC 1.2%
FY18
AR 0.4%
CRC 16.1%
FY19
AR −6.3%
CRC 8.8%
FY20
AR −7.6%
CRC —
FY21
AR 0.2%
CRC —
FY22
AR 25.4%
CRC 27.1%
FY23
AR 3.9%
CRC 27.6%
FY24
AR 0.0%
CRC 13.8%
FY25
AR 7.6%
CRC 9.5%
AR
CRC
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.