Antero Resources Corp (AR)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	1,489,230	1,537,600	1,183,480	2,125,440	3,001,590
Total stockholders’ equity	US$ in thousands	7,021,650	6,901,520	6,754,560	5,757,160	5,767,700
Debt-to-capital ratio		0.17	0.18	0.15	0.27	0.34

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,489,230K ÷ ($1,489,230K + $7,021,650K)
= 0.17

The debt-to-capital ratio of Antero Resources Corp has shown a decreasing trend over the years based on the provided data. From 0.34 in December 2020, the ratio has declined steadily to 0.27 in December 2021, further dropping to 0.15 in December 2022. However, there was a slight increase to 0.18 in December 2023, followed by a decrease again to 0.17 in December 2024.

A decreasing debt-to-capital ratio indicates that the company is relying less on debt financing relative to its total capital, which could be a positive sign of financial stability and lower financial risk. This trend suggests that Antero Resources Corp may be reducing its debt levels or increasing its equity financing, which could potentially enhance its financial position and creditworthiness. However, it's essential to consider other financial metrics and external factors to gain a comprehensive understanding of the company's overall financial health and debt management strategies.