Quality
Return on equity
8.9% Computed
From the FY2025 filing
ValueScreener company report
Antero Resources Corporation (AR)
NYSE / Energy / Oil & Gas Exploration & Production
Share price
36.44 USD Market dataClose of Oct 15, 2026Market capitalisation
11.20B USD Market dataClose of Oct 15, 2026- Market data
- Oct 15, 2026
- Filed accounts
- FY2025, filed Feb 11, 2026
- Ratios computed
- Oct 15, 2026
- Filed years
- 14, FY2011 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
- SEC filingFiled with the SEC
- Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
- Company statementCompany statement
- What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
- Market dataMarket data
- Prices, market value and what analysts publish, with the date they are as of.
- ComputedComputed by ValueScreener
- Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading
1 of 10
Overview
What the business is, what it costs, and how it reads on four questions.
Market dataSEC filingComputed
Four questions, at a glance
Financial strength
Current ratio
0.55 Computed
From the FY2025 filing
Valuation
Price to earnings
17.78x Computed
FY2025 accounts, priced at the latest close
Cash generation
Free cash flow yield
14.3% Computed
FY2025 accounts, priced at the latest close
Revenue and net income, as filed
- Named tests met
- 1 of 30 Which tests
The business, and the score behind its five axes
The reading, in brief
- Is it cheap
Price to earnings is 17.78x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.
Today, against the Oil & Gas Exploration & Production industry (48 companies), 17.78x sits at the 66th percentile; the middle half of that group runs from 10.64x to 25.81x.
- Is it good
Return on equity was 8.9% in FY2025, in the band labelled "Ordinary" (8.0% to 15.0%), on lines anchored on Damodaran's cost-of-capital data.
Today, against the Oil & Gas Exploration & Production industry (66 companies), 8.9% sits at the 56th percentile; the middle half of that group runs from -2.2% to 14.0%.
- Is it safe
Current ratio was 0.55 in FY2025, in the band labelled "Short-term liabilities exceed short-term assets" (below 1.00), on lines anchored on Graham's defensive-investor criteria, suggesting short-term obligations above short-term assets.
Today, against the Oil & Gas Exploration & Production industry (71 companies), 0.55 sits at the 14th percentile; the middle half of that group runs from 0.68 to 1.58.
- Year by year against peers
- Whether Antero Resources Corporation's return on equity stayed above the median of the Oil & Gas Exploration & Production industry, year by year. (FY2021 to FY2025, 5 fiscal years of Antero Resources Corporation with a comparable figure)
- The direction
- Which way Antero Resources Corporation's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Antero Resources Corporation)
- What could explain it
- What in Antero Resources Corporation's filed statements could explain the movements. (4 readings drawn from the statement lines Antero Resources Corporation filed)
- What to check next
- What to check next on Antero Resources Corporation, and where in its filings. (4 questions for Antero Resources Corporation)
- In one paragraph
- One paragraph on Antero Resources Corporation's returns, cash, balance sheet and price. (9 of sixteen figures read for Antero Resources Corporation)
These are AR’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.
Research ARPart of Serious. New accounts start with 30 days of Professional, free, no card.
2 of 10
What changed
The newest filing, what it moved, and when the next one is due.
SEC filingCompany statement
The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 11, 2026, accession 0001104659-26-013386.
3 of 10
Quality
The returns the business earns on its capital, and the margins behind them.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
Return on invested capital, after taxWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Return on equity | 8.9% ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Return on capital employed, pre-tax | 7.5% ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Return on assets | 5.1% ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Gross marginWhy n/aOur archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which. | n/a ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Operating margin | 16.8% ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Net margin | 12.8% ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
AR 12.8%
11.1%23.6%
4 of 10
Financial strength
What it owes against what it owns, and whether it can meet what falls due.
SEC filingComputedCompany statement
| Figure | Value, source and document |
|---|---|
Debt to equityWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Current ratio | 0.55 ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Quick ratio | 0.55 ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Interest coverageWhy n/aNo interest expense is filed for this year, so coverage is not computed. | n/a ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Altman Z-score | 1.97 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Net debtWhy n/aThe FY2025 balance sheet carries no net debt we could read. | n/a ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
The balance sheet, line by line
Financial health
What Antero Resources Corporation owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 11, 2026, 0001104659-26-013386).
| Total assets | 13.25B FiledFY2025 10-K, filed Feb 11, 2026 |
|---|---|
| Total liabilities | 5.53B FiledFY2025 10-K, filed Feb 11, 2026 |
| Shareholders' equity | 7.55B FiledFY2025 10-K, filed Feb 11, 2026 |
| Cash | 210.0M FiledFY2025 10-K, filed Feb 11, 2026 |
| Total debt | n/a FiledFY2025 10-K, filed Feb 11, 2026 |
| Net debt | n/a |
| Current ratio | 0.55 |
| Debt to equity | n/a |
- Debt to equity: FY2025: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.
Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.
5 of 10
Valuation context
What the market charges for it, against its own record and companies like it.
Market dataSEC filingComputed
| Figure | Value, source and document |
|---|---|
| Price to earnings | 17.78x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| P/E on trailing twelve months | 10.76x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings |
| Price to book | 1.51x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Price to sales | 2.16x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Enterprise value to EBITWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Enterprise value to EBITDAWhy n/aThe debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Price to earnings over growthWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Diluted earnings per share | 2.03 USD FiledFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Graham number | 33.39 USD ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
We publish no fair value or price target of our own. Value AR on your own assumptions in the DCF workbench, starting from the filed figures.
Its own record, and companies like it
Valuation
What the market charges for Antero Resources Corporation today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.
| Share price | 36.44 USD |
|---|---|
| Market capitalisation | 11.20B USD |
| Enterprise value to EBITDA | n/a |
| Graham number | 33.39 USD |
| Diluted earnings per share, FY2025 | 2.03 USD |
Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 1.01x, median 16.95x, high 1781.50x, latest 10.76x. 1,518 trading days with a meaningful ratio, 1,003 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.
Companies like Antero Resources Corporation
- Ovintiv Inc. (OVV)Market cap 18.29B USD
- Permian Resources Corporation (PR)Market cap 19.77B USD
- Expand Energy Corporation (EXE)Market cap 21.02B USD
- Diamondback Energy, Inc. (FANG)Market cap 54.77B USD
- EQT Corporation (EQT)Market cap 32.81B USD
Same industry (Oil & Gas Exploration & Production) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.
6 of 10
Cash generation
Whether profit arrives as cash, and what is paid back to shareholders.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
| Free cash flow yield | 14.3% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Free cash flow | 1.63B USD ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Free cash flow margin | 30.8% ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Dividend yieldWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
Payout ratioWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
7 of 10
Filings
Every figure, the year it is for and the document it was read from.
SEC filingMarket data
The filed figures
Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.
| Figure | Value | Year | As of |
|---|---|---|---|
| 17.78x | FY2025 | Oct 15, 2026 | |
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| 1.51x | FY2025 | Oct 15, 2026 | |
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Oct 15, 2026 | |
| n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | |||
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| 14.3% | FY2025 | Oct 15, 2026 | |
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Feb 11, 2026 | |
| n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | |||
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Oct 15, 2026 | |
| n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one. | |||
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Feb 11, 2026 | |
| n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one. | |||
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| 0.55 | FY2025 | Feb 11, 2026 | |
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| 2.16x | FY2025 | Oct 15, 2026 | |
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| n/a | FY2025 | Oct 15, 2026 | |
| n/a This figure compares a year against the one before it, and we hold one filed year for this company. | |||
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| 1.97 | FY2025 | Oct 15, 2026 | |
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| -2.63 | FY2025 | Feb 11, 2026 | |
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
| 8/9 | FY2025 | Feb 11, 2026 | |
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tabForm10-KFiledFeb 11, 2026PeriodFY2025Accession0001104659-26-013386What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-013386, leaves this page and opens in a new tab | |||
The figures are computed from the accounts for fiscal 2025, the newest full year on file. 14 filed fiscal years on record, FY2011 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.
The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.
Ten years of filed figures, year by year
Ten years of filed figures
10 filed fiscal years, FY2016 to FY2025, read from the annual reports Antero Resources Corporation filed with the SEC. Each year names its filing. Amounts in USD, as filed.
| Year | Revenue | Operating income | Net income | EPS, diluted | Free cash flow | Operating margin | Return on equity | Filing |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 5.28B | 883.6M | 674.6M | 2.03 | 1.63B | 16.8% | 8.9% | 10-K, Feb 11, 20260001104659-26-013386 |
| FY2024 | 4.33B | 460.0K | 93.7M | 0.18 | 838.4M | 0.0% | 1.3% | 10-K, Feb 12, 20250001558370-25-000864 |
| FY2023 | 4.68B | 396.2M | 297.3M | 0.64 | 978.3M | 8.5% | 4.3% | 10-K, Feb 14, 20240001558370-24-001162 |
| FY2022 | 7.14B | 2.54B | 2.00B | 5.69 | 2.11B | 35.6% | 29.6% | 10-K, Feb 15, 20230001558370-23-001378 |
| FY2021 | 4.62B | 23.9M | -154.1M | -0.61 | 944.2M | 0.5% | -2.7% | 10-K, Feb 16, 20220001558370-22-001283 |
| FY2020 | 3.49B | -953.4M | -1.26B | -4.65 | -138.7M | -27.3% | -21.9% | 10-K, Feb 17, 20210001558370-21-001153 |
| FY2019 | 4.41B | -987.0M | -293.1M | -1.11 | -318.7M | -22.4% | -4.2% | 10-K, Feb 12, 20200001558370-20-000726 |
| FY2018 | 4.14B | 71.9M | -45.7M | -1.26 | -128.6M | 1.7% | -0.6% | 10-K, Feb 13, 20190001558370-19-000629 |
| FY2017 | 3.66B | 740.1M | 785.1M | 1.94 | -210.5M | 20.3% | 9.6% | 10-K, Feb 13, 20180001558370-18-000647 |
| FY2016 | 1.74B | -975.8M | -749.4M | -2.88 | 1.24B | -55.9% | -12.0% | 10-K, Feb 28, 20170001558370-17-001159 |
- Revenue, compound annual growth FY2016 to FY2025: 13.1%
- Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
- Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
- Free cash flow, compound annual growth FY2016 to FY2025: 3.1%
Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.
8 of 10
Risks and guardrails
The accounting screens, the published tests, and the lines you can set to be told.
ComputedCompany statement
| Figure | Value, source and document |
|---|---|
| Beneish M-score | -2.63 ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Piotroski F-score | 8/9 ComputedFY2025 10-K, filed Feb 11, 2026, 0001104659-26-013386 |
| Named tests met | 1 of 30 Computed |
| Beta | 0.09 ComputedClose of Oct 15, 2026 |
The named tests
Of 30 tests value investors published: 1 met, 21 not met, 8 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.
Which tests, by name(all 30)
- Meets
- Owner earnings yield
- Does not
- Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
- Not measured
- Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; High yield, low payout; ROIC at or above WACC; Cash-covered dividend; Cash-flow yield and ROIC; Clean books, high ROIC. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(13)
- Debt to Equity: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- EV/EBIT: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Return on Invested Capital: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
- Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
- Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
- EV/EBITDA: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
- Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
- Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
- ROIC-WACC Spread: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
- Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
- Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
9 of 10
Declared positions
Whether anybody here owns this company.
Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.
10 of 10
Next step
What to do with what you have read.
A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.
What this cannot tell you
- 13 figures could not be read on this company, among them Debt to Equity, EV/EBIT, Return on Invested Capital. Each blank in the table above names the rest, with its reason. 8 named tests come back incomplete because of them, which is neither met nor missed.
And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.
Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.
No card. 30 free days, and nothing is charged unless you choose a plan.
ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.