Antero Resources Corporation (AR) vs Expand Energy Corporation (EXE)

Antero Resources Corporation and Expand Energy Corporation are both Oil & Gas E&P companies. Expand Energy Corporation is the larger, with a market value of $21.0B against $11.2B — 1.9× the size. Expand Energy Corporation trades at the lower P/E: 8.0× against 11.0×. Expand Energy Corporation grew revenue faster over the last twelve months: 59.3% against 25.8%. Expand Energy Corporation has the higher net margin (20.5% vs 17.7%) and the higher return on invested capital (10.3% vs 8.79%). Across the 21 metrics below, Expand Energy Corporation leads on 19 and Antero Resources Corporation on 2.

Valuation

Metric AR EXE Oil & Gas E&P median
P/E 11.01 8.02 11.01
P/S 1.95 1.64 1.98
P/B 1.44 1.15 1.30
Price to free cash flow 550.51 8.64 10.68
EV/EBITDA 7.56 4.06 5.09
EV/Sales 2.32 1.92 2.63
Earnings yield 9.08% 12.46% 5.78%
Free cash flow yield 0.18% 11.57% 4.91%

Profitability

Metric AR EXE Oil & Gas E&P median
Gross margin 41.67% 80.66% 80.41%
Operating margin 24.67% 26.94% 21.39%
Net margin 17.68% 20.46% 14.17%
Free cash flow margin 0.35% 18.94% 8.18%
Return on equity 13.72% 14.89% 10.05%
Return on assets 7.74% 9.97% 5.81%
Return on invested capital 8.79% 10.25% 6.32%

Growth

Metric AR EXE Oil & Gas E&P median
Revenue growth (TTM) 25.76% 59.29% 9.94%
EPS growth (last fiscal year) 1,027.78% 266.37% (10.50%)
Revenue growth, 5-year CAGR 8.61% 18.27% 18.67%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AR EXE Oil & Gas E&P median
Debt to equity 0.29 0.19 0.28
Current ratio 0.40 0.96 0.96
Net debt to EBITDA 0.74 0.82 0.89

Dividend

Metric AR EXE Oil & Gas E&P median
Dividend yield — 0.00% 3.29%
Payout ratio — 0.00 0.35

Size

Metric AR EXE Oil & Gas E&P median
Market cap 11.20b 21.02b 1.04b

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