Ares Capital Corp (ARCC)
Ares Capital Corporation is a business development company specializing in growth capital, acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in sports, media & entertainment, industrials & business services, infrastructure & power, financial institution groups, software & technology, specialty healthcare, consumer, retail & services, energy and the basic and growth manufacturing, consumer products, health care products, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It invests in the United States based companies. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $30 million and $500 million, in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.
- Symbol
- ARCC
- Exchange
- Nasdaq
- Sector
- Financial Services
- Industry
- Asset Management
- Market cap
- $13.75B
- 52 week range
- 17.4 - 21.14
Valuation
- Share price
- $19.17 (close of 2026-09-23)
- P/E (TTM)
- 14.19x
- Price to book
- 0.99x
- Price to free cash flow
- -20.22x
- Enterprise value
- $29.14B
- Book value per share
- $19.35
Price performance
| Period | Change |
|---|
| 1 day | -1.39% |
| 5 days | -1.03% |
| 1 month | -3.77% |
| 3 months | +7.15% |
| 6 months | +4.87% |
| Year to date | -5.24% |
| 1 year | -7.66% |
| 3 years | -0.26% |
| 5 years | -5.00% |
| 10 years | +23.12% |
| All time | +29.53% |
Profitability and growth
- Return on equity
- 9.07%
- Return on assets
- 4.16%
- Net income growth
- -14.65%
- Free cash flow growth
- 19.31%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -4.95%
- Net debt to EBITDA
- 8.52x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- EBITDA
- $2.09B
- Net income
- $1.30B
- Earnings per share
- $1.86
- Interest expense
- $793.00M
- Shares outstanding
- 699.00M
Income statement by year
| Period end | Net income | EPS |
|---|
| 2025-12-31 | $1.30B | $1.86 |
| 2024-12-31 | $1.52B | $2.44 |
| 2023-12-31 | $1.52B | $2.75 |
| 2022-12-31 | $600.00M | $1.21 |
| 2021-12-31 | $1.57B | $3.51 |
| 2020-12-31 | $484.00M | $1.14 |
Margins and returns by year
| Period end | Return on equity |
|---|
| 2025-12-31 | 9.07% |
| 2024-12-31 | 11.40% |
| 2023-12-31 | 13.59% |
| 2022-12-31 | 6.28% |
| 2021-12-31 | 17.67% |
| 2020-12-31 | 6.74% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $638.00M | $15.99B |
| 2024-12-31 | $635.00M | $13.73B |
| 2023-12-31 | $535.00M | $11.88B |
| 2022-12-31 | $303.00M | $12.21B |
| 2021-12-31 | $372.00M | $11.02B |
Free cash flow by year
| Period end | Free cash flow |
|---|
| 2025-12-31 | $-1.72B |
| 2024-12-31 | $-2.13B |
| 2023-12-31 | $511.00M |
| 2022-12-31 | $-1.36B |
| 2021-12-31 | $-2.46B |
| 2020-12-31 | $-580.00M |
Dividend history
- Most recent payment
- 2026-09-15
- Paid in the last twelve months
- $1.92
| Payment date | Dividend per share |
|---|
| 2026-09-15 | $0.48 |
| 2026-06-15 | $0.48 |
| 2026-03-13 | $0.48 |
| 2025-12-15 | $0.48 |
| 2025-09-15 | $0.48 |
| 2025-06-13 | $0.48 |
| 2025-03-14 | $0.48 |
| 2024-12-13 | $0.48 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-27
- Consensus EPS estimate
- $0.48
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-29 | Jun/2026 | $0.47 |
| 2026-04-27 | - | - |
| 2026-02-04 | - | - |
| 2025-10-28 | - | - |
| 2025-07-29 | - | - |
| 2025-04-29 | - | - |
| 2025-02-05 | - | - |
| 2024-10-30 | - | - |
Filings and sources
- Company website
- arcc.ares.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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