Antero Resources vs California Resources
Antero Resources reported revenue of $5.3 billion in fiscal 2025, 1.4 times California Resources' $3.7 billion in fiscal 2025. Antero Resources' revenue grew 22.0% in its latest year, and California Resources' grew 14.7%. Antero Resources had an operating margin of 16.8%, against 16.3% at California Resources. Free cash flow was $1.6 billion at Antero Resources and $543 million at California Resources.
Side by side
| Antero Resources | California Resources | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $5.3B | $3.7B |
| Revenue growth | 22.0% | 14.7% |
| Revenue growth a year, last 5 years | 8.6% | 6.9% |
| Gross margin | — | — |
| Operating margin | 16.8% | 16.3% |
| Net margin | 12.8% | 9.9% |
| Free cash flow | $1.6B | $543M |
| Free cash flow margin | 30.8% | 14.8% |
| Return on capital | 7.6% | 9.5% |
| Net debt to EBITDA | 0.7x | 1.0x |
| Dividends and buybacks | $136M | $513M |
| Change in diluted share count | −0.3% | 7.4% |
| Last close | $41.54 | $54.75 |
| P/E at the last close | 11.9× | — |
| Insider trades, last 12 months | bought $166,750, sold $11.2 million | bought $281,056, sold $222.7 million |
| Piotroski F-score | 8 of 8 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Antero ResourcesCalifornia Resources
Operating margin
Percent of revenue
Antero ResourcesCalifornia Resources
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Antero ResourcesCalifornia Resources
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Antero Resources and California Resources pages.