AR · Intrinsic value
Is Antero Resources Corporation (AR) overvalued or undervalued?
Antero Resources Corporation (AR) trades at the delayed market price of $38.65 a share. That price already implies revenue growth of 1.2% a year for 5 years. TickerWorth's fair value is $51.98 a share (26% below fair value), as of Oct 19, 2026. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 19, 2026 · How these pages are made
Is AR undervalued?
- Fair value
- $51.98
- Market price
- $38.65
- Upside to fair value
- +34.5%
- Verdict
- 26% below fair value
Reverse DCF: Today's price implies revenue growth of 1.2% a year for 5 years; our model assumes 8.3% a year on average over the same horizon.
What is AR's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Energy companies in US
Its strongest point: trades below our estimate of what it's worth. Its weakest: balance sheet looks stretched.
- Value · 58 of 100
Cheaper than 58% of Energy companies in US
- Price vs worth · 78 of 100
- Quality · 58 of 100
More profitable than 58% of Energy companies in US
- Financial health · 28 of 100
Financially stronger than 28% of Energy companies in US
- Growth · 45 of 100
Growing faster than 45% of Energy companies in US
- Momentum · 54 of 100
Outperformed 54% of Energy companies in US over the past year
Confidence: High confidence · Scored
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AR DCF valuation: where the gap comes from
At a recent price of $38.65, Antero Resources Corporation (AR) trades 26% below TickerWorth's blended fair value of $51.98 per share — a discounted-cash-flow model cross-checked against peer multiples and asset value — meaning the market currently prices AR undervalued vs our estimate of what the business is intrinsically worth. Our fair value sits above the market, an implied +34.5% move to close the gap if the business performs in line with our assumptions. This is an educational model, not a price target or a recommendation — the value moves with the inputs, which you can test yourself using the WACC slider below.
Read the full reasoning
One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values AR at about $54.44 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.
The valuation discounts Antero Resources Corporation's projected free cash flows at a weighted-average cost of capital (WACC) of 6.2%, with a long-run terminal growth rate of 2.5%. About 85% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 1.2% annual revenue growth for AR. Our base case instead compounds to about 8.3% a year over the same forecast, so the market is pricing in slower growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, AR's modeled DCF value ranges from about $31.89 to $171.39 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Antero Resources Corporation would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of AR's intrinsic value. Figures update as new filings and prices come in.
Every input behind AR's DCF
| Input | Value |
|---|---|
| Base-year revenueANTERO RESOURCES CORPORATION FY2025 10-K (accession 0001104659-26-013386): us-gaap:Revenues, FY2025 full year. | $5,275,820,000 |
| Base EBIT marginANTERO RESOURCES CORPORATION FY2025 10-K (accession 0001104659-26-013386): us-gaap:OperatingIncomeLoss 883,646,000 / revenue 5,275,823,000 = 16.75%, FY2025. | 16.8% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 13% → 10% → 8% → 6% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 4.7% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 0.40 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesANTERO RESOURCES CORPORATION FY2025 10-K (accession 0001104659-26-013386): WeightedAverageNumberOfDilutedSharesOutstanding = 312,361,000 shares, FY2025. | 312M |
| Market priceBackup price feed · as of 2026-10-19 12:30 UTC | $38.65 |
Change AR's assumptions
The discount-rate dial and the editable model
ProChange growth, margin and WACC yourself — Pro (7-day free trial, card required).
What does Antero Resources Corporation do?
What does it do?
Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Production; Marketing; and Equity Method Investment in Antero Midstream. It operates in the Oil & Gas E&P industry (Energy sector), headquartered in United States. The company employs roughly 632 people.
How does it make money?
The business turns $5.8B in annual revenue into profit. Out of every $100 of sales, about $26 is left as operating profit (operating margin of 26.0%), after a 67% gross margin on the products/services it sells. After all costs, taxes and interest, 18.7% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks mixed: carries modest debt (0.6× equity), may struggle to cover its short-term bills (0.4× current ratio), and is currently profitable.
Who at AR filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Munoz Jeffrey S. | Director | Grant / award | — | Form 4 for Munoz Jeffrey S. (opens sec.gov in a new tab) | |
| Tyree Thomas B JR | Director | Grant / award | — | Form 4 for Tyree Thomas B JR (opens sec.gov in a new tab) | |
| Sutil Vicky | Director | Grant / award | — | Form 4 for Sutil Vicky (opens sec.gov in a new tab) | |
| Keenan W Howard JR | Director | Grant / award | — | Form 4 for Keenan W Howard JR (opens sec.gov in a new tab) | |
| Hardesty Benjamin A. | Director | Grant / award | — | Form 4 for Hardesty Benjamin A. (opens sec.gov in a new tab) | |
| Schroer Brenda R | Director | Grant / award | — | Form 4 for Schroer Brenda R (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is AR's intrinsic value?
TickerWorth's blended fair value for Antero Resources Corporation (AR) is $51.98 per share, versus a market price of $38.65 (26% below fair value).
Is AR overvalued or undervalued?
On our blended fair value AR looks undervalued vs fair value at $38.65. This is an educational estimate, not advice.
What discount rate is used for AR?
A WACC of 6.2% and a terminal growth rate of 2.5%.
Is Antero Resources stock undervalued?
TickerWorth's fair value for Antero Resources Corporation (AR) is $51.98 against a market price of $38.65. Our read: 26% below fair value. This is a model estimate, not investment advice.
Antero Resources (AR) DCF valuation and fair value
Our fair value for Antero Resources Corporation (AR) is $51.98, built on a 6.2% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Antero Resources stock?
Today's price implies revenue growth of 1.2% a year for 5 years; our model assumes 8.3% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $38.65. A model estimate, not investment advice.
Antero Resources (AR) insider trading
The most recent insider filing (SEC Form 4) for Antero Resources Corporation (AR): Munoz Jeffrey S., Director, grant / award on 2026-10-10. The latest filings are listed on this page. A disclosure, not a signal to trade.
More stocks below our fair value
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.