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 $19.7B against $11.2B — 1.8× the size. Expand Energy Corporation trades at the lower P/E: 7.4× against 8.2×. Antero Resources Corporation grew revenue faster over the last twelve months: 28.7% against 28.2%. Antero Resources Corporation has the higher net margin (21.2% vs 19.8%) and the higher return on invested capital (10.2% vs 9.35%). Across the 20 metrics below, Expand Energy Corporation leads on 12 and Antero Resources Corporation on 8.

Valuation

Metric AR EXE Oil & Gas E&P median
P/E 8.20 7.39 9.67
P/S 1.73 1.42 1.76
P/B 1.30 1.02 1.19
Price to free cash flow n/m 7.67 8.37
EV/EBITDA 6.06 3.95 4.59
EV/Sales 2.06 1.80 2.27
Earnings yield 12.19% 13.54% 7.55%
Free cash flow yield (9.82%) 13.04% 3.98%

Profitability

Metric AR EXE Oil & Gas E&P median
Gross margin 44.29% 80.61% 79.54%
Operating margin 27.56% 25.71% 24.01%
Net margin 21.22% 19.78% 14.11%
Free cash flow margin (17.02%) 18.57% 7.72%
Return on equity 17.01% 14.62% 8.99%
Return on assets 9.65% 9.60% 4.63%
Return on invested capital 10.17% 9.35% 6.33%

Growth

Metric AR EXE Oil & Gas E&P median
Revenue growth (TTM) 28.74% 28.21% 13.60%
EPS growth (last fiscal year) 1,027.78% 266.37% (10.17%)
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 0.27 0.24 0.29
Current ratio 0.39 0.90 0.92
Net debt to EBITDA 0.74 0.82 0.93

Dividend

Metric AR EXE Oil & Gas E&P median
Dividend yield — 0.00% 3.76%
Payout ratio — 0.00 0.33

Size

Metric AR EXE Oil & Gas E&P median
Market cap 11.17b 19.71b 953.29m

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