Filing Flows

Filing Flows › Companies › Antero Resources › Cash flow

Antero Resources cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$261M in Q3 2026 · $1.3B over twelve months

Operating cash flow$575M
Capital spending−$314M
Free cash flow+$261M
Cash / net income1.6×

Analysis

In Q3 2026, Antero Resources generated $575M of operating cash flow and spent $314M on capital projects, leaving free cash flow of $261M. That is $135M more than in Q3 2025 ($126M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.2B; the largest uses were other investing ($3.3B), capital spending ($966M), buybacks ($93.7M); besides operations, cash came from other financing ($1.5B), asset & business sales ($755M).

Operating cash flow was $575M against net income of $367M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$241M, deferred taxes +$93.0M, accrued liabilities −$32.9M.

Free cash flow

Antero Resources: free cash flow by quarterAntero Resources: free cash flow by quarter$172MQ4 2024$283MQ1 2025$311MQ2 2025$126MQ3 2025$209MQ4 2025$675MQ1 2026$131MQ2 2026$261MQ3 2026
Operating cash flow less capital spending.
Antero Resources: operating cash flow against capital spendingAntero Resources: operating cash flow against capital spendingOperating cash flowCapital spending$278M$106MQ4 2024$458M$175MQ1 2025$492M$181MQ2 2025$310M$185MQ3 2025$371M$162MQ4 2025$859M$185MQ1 2026$439M$308MQ2 2026$575M$314MQ3 2026
Latest (Q3 2026): Operating cash flow $575M, Capital spending $314M.

Capital allocation, year by year

Antero Resources: where the cash came from (up) and went (down), by fiscal yearAntero Resources: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY2021: Operating cash flow $1.7BFY2021: Net borrowing −$1.8BFY2021: Asset sales $3.2MFY2021: Capital spending −$716M$1.7BFY2021FY2022: Operating cash flow $3.1BFY2022: Net borrowing −$993MFY2022: Asset sales $2.7MFY2022: Capital spending −$944MFY2022: Buybacks −$874M$3.1BFY2022FY2023: Operating cash flow $995MFY2023: Net borrowing $381MFY2023: Asset sales $447KFY2023: Capital spending −$964MFY2023: Buybacks −$75.4M$1.4BFY2023FY2024: Operating cash flow $849MFY2024: Net borrowing −$25.1MFY2024: Asset sales $9.5MFY2024: Capital spending −$615M$859MFY2024FY2025: Operating cash flow $1.6BFY2025: Net borrowing −$97.9MFY2025: Asset sales $16.3MFY2025: Capital spending −$685MFY2025: Buybacks −$136M$1.6BFY2025
Over these 5 years operating cash flow totalled $8.2B; the largest uses were capital spending ($3.9B) and net borrowing ($2.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$0
Debt$2.8B
Net debt$2.8B

Antero Resources funds itself: free cash flow was $1.3B over the last twelve months, and $0 of cash and investments stands against $2.8B of debt.

Where the cash came from and went

Antero Resources: sources (+) and uses (−) of cash, Q3 2026Antero Resources: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$575MOther investing−$368MCapital spending−$314MNet borrowing (+) / repaid (−)$166MBuybacks−$55.7MAsset & business sales−$1.8MOther financing−$1.5MTaxes on employees’ shares−$99K
Antero Resources: sources (+) and uses (−) of cash, TTM to Q3 2026Antero Resources: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$3.3BOperating cash flow$2.2BOther financing$1.5BCapital spending−$966MAsset & business sales$755MBuybacks−$93.7MPartners−$41.2MTaxes on employees’ shares−$37.9MNet borrowing (+) / repaid (−)−$1.5M

From profit to cash

Antero Resources: net income to operating cash flow, Q3 2026Antero Resources: net income to operating cash flow, Q3 2026Net income$367MDepreciation & amortization$241MStock-based pay$13.2MDeferred taxes$93.0MImpairments$1.6MGains on disposals−$1.2MReceivables−$1.6MPayables−$22.9MAccrued liabilities−$32.9MPrepaid and other assets$12.5MOther liabilities$4.0MOperating cash flow$575M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$575M−$314M—−$55.7M$166M—$261M
Q2 2026$439M−$308M−$8.9M—−$402K—$131M
Q1 2026$859M−$185M−$2.8B—$13.6M$210M$675M
Q4 2025$371M−$162M—−$83K$90.0M−$210M$209M
Q3 2025$310M−$185M—−$51.4M$208M—$126M
Q2 2025$492M−$181M—−$74.9M−$188M—$311M
Q1 2025$458M−$175M—−$10.1M−$207M—$283M
Q4 2024$278M−$106M——−$134M—$172M

Antero Resources: income statement and cash flow

Antero Resources, Q3 2026: revenue $1.6B (+29% year over year), operating margin 25.1%. The chart follows the revenue to costs, profit and cash.

Antero Resources: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.