Antero Resources
AR · Oil & Gas Exploration & Production
$40.16
2.9%Permian Resources
PR · Oil & Gas Exploration & Production
$25.49
4.5%The short version
- Antero Resources is the larger business, with $5.3B of revenue in fiscal 2025 against $5.1B for Permian Resources.
- Antero Resources grew revenue faster (22.0%, against 1.3%).
- Permian Resources kept more of each dollar of sales as operating profit (28.9% operating margin, against 16.8% operating margin).
- Permian Resources turned more of its sales into free cash flow (71.0% FCF margin, against 30.8% FCF margin).
- Investors pay more for each dollar of Permian Resources’s earnings: a P/E of 16.9x against 11.5x for Antero Resources.
| Latest fiscal year | AR · FY25 | PR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.5B | $21.8B |
| Revenue | $5.3B | $5.1B |
| Free cash flow | $1.6B | $3.6B |
| Net income | $675M | $935M |
| Growth | ||
| Revenue growth | 22.0% | 1.3% |
| 5-year growth | 8.6% | 54.2% |
| Share count change | −0.3% | 6.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.8% | 28.9% |
| Net margin | 12.8% | 18.5% |
| FCF margin | 30.8% | 71.0% |
| Return on capital | 7.6% | 8.0% |
| Return on equity | 9.3% | 9.6% |
| Balance sheet | ||
| Net debt | $1.2B | $3.4B |
| Net debt / EBITDA | 0.7x | — |
| Dividends and buybacks | $136M | $448M |
| Valuation & quality | ||
| P/E | 11.5x | 16.9x |
| Piotroski F-score | 8 | 4 |
FY16
AR $1.7B
PR —
FY17
AR $3.7B
PR $430M
FY18
AR $4.1B
PR $891M
FY19
AR $4.4B
PR $944M
FY20
AR $3.5B
PR $581M
FY21
AR $4.6B
PR $1.0B
FY22
AR $7.1B
PR $2.1B
FY23
AR $4.7B
PR $3.1B
FY24
AR $4.3B
PR $5.0B
FY25
AR $5.3B
PR $5.1B
AR
PR
FY16
AR −55.9%
PR —
FY17
AR 20.3%
PR 26.5%
FY18
AR 1.7%
PR 31.8%
FY19
AR −22.4%
PR 8.4%
FY20
AR −27.3%
PR −134.4%
FY21
AR 0.5%
PR 36.0%
FY22
AR 35.6%
PR 47.3%
FY23
AR 8.5%
PR 35.1%
FY24
AR 0.0%
PR 34.9%
FY25
AR 16.8%
PR 28.9%
AR
PR
FY16
AR $1.2B
PR —
FY17
AR −$210M
PR $255M
FY18
AR −$129M
PR $664M
FY19
AR −$319M
PR $555M
FY20
AR −$139M
PR $170M
FY21
AR $944M
PR $525M
FY22
AR $2.1B
PR $1.4B
FY23
AR $978M
PR $2.2B
FY24
AR $838M
PR $3.4B
FY25
AR $1.6B
PR $3.6B
AR
PR
FY16
AR −6.3%
PR —
FY17
AR 5.7%
PR —
FY18
AR 0.4%
PR 6.2%
FY19
AR −6.3%
PR 1.4%
FY20
AR −7.6%
PR −15.4%
FY21
AR 0.2%
PR 10.2%
FY22
AR 25.4%
PR 15.4%
FY23
AR 3.9%
PR 9.0%
FY24
AR 0.0%
PR 10.3%
FY25
AR 7.6%
PR 8.0%
AR
PR
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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.