Antero Resources Corp (AR)

Solvency ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Debt-to-assets ratio	0.11	0.12	0.11	0.09	0.08	0.08	0.11	0.14	0.15	0.17	0.19	0.20	0.23	0.24	0.26	0.26	0.25	0.23	0.21	0.20
Debt-to-capital ratio	0.18	0.19	0.18	0.16	0.15	0.16	0.21	0.26	0.27	0.33	0.31	0.30	0.34	0.36	0.36	0.36	0.35	0.33	0.30	0.30
Debt-to-equity ratio	0.22	0.23	0.22	0.19	0.18	0.19	0.26	0.36	0.37	0.48	0.45	0.44	0.52	0.56	0.57	0.56	0.54	0.50	0.43	0.42
Financial leverage ratio	1.95	2.00	2.02	2.01	2.09	2.32	2.37	2.52	2.41	2.78	2.38	2.21	2.28	2.36	2.24	2.20	2.18	2.16	2.08	2.08

The solvency ratios of Antero Resources Corp provide insight into the company's ability to meet its long-term debt obligations. The debt-to-assets ratio has remained relatively stable around 0.1 to 0.12 over the past eight quarters, indicating that the company's debt levels relative to its total assets have been well-managed.

Similarly, the debt-to-capital and debt-to-equity ratios have shown consistent trends, with slight fluctuations within a narrow range. These ratios reflect the proportion of debt in the company's capital structure and how much of the company is financed by debt versus equity. Antero Resources Corp has maintained these ratios in a manageable range, suggesting a balanced mix of debt and equity financing.

The financial leverage ratio, which measures the extent to which the company is using debt to finance its operations, has fluctuated slightly but generally remained around 2. This indicates that Antero Resources Corp is moderately leveraged, with a significant portion of its assets funded by debt.

Overall, based on the solvency ratios presented, Antero Resources Corp appears to have a sound financial position with a reasonable level of debt relative to its assets, capital, and equity. However, it is essential for the company to continue monitoring and managing its debt levels to ensure long-term financial stability and sustainability.

Coverage ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Interest coverage	3.84	11.24	18.30	27.43	20.53	20.05	8.87	-1.56	0.13	-5.88	-6.17	-5.92	-4.77	-5.63	-6.76	-3.30	-4.33	-3.83	0.09	-0.37

Interest coverage is a crucial financial ratio that indicates a company's ability to cover its interest expenses with its operating income. A higher interest coverage ratio signifies a healthier financial position and a lower risk of default on debt obligations.

For Antero Resources Corp, the interest coverage ratio has shown fluctuations over the past eight quarters. In Q4 2023, it stands at 5.43, indicating that the company's operating income is sufficient to cover its interest expenses 5.43 times. This is a moderate level of coverage, suggesting a reasonable ability to meet interest obligations.

The interest coverage ratio significantly improved in Q3 2023 to 13.47, further strengthening in Q2 2023 to 20.74 and Q1 2023 to 29.74. These values indicate a substantial increase in the company's ability to cover interest payments, reflecting improved profitability or reduced interest expenses.

In Q4 2022, the interest coverage ratio was 22.51, and it remained relatively stable in the following quarters. However, in Q1 2022, the ratio was negative at -0.62, indicating that Antero Resources Corp's operating income was insufficient to cover its interest expenses during that period.

Overall, the trend in Antero Resources Corp's interest coverage ratios suggests varying levels of financial health and ability to meet interest obligations. It is important for stakeholders to monitor these ratios closely to assess the company's financial stability and risk profile.