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ARCCAres Capital Corporation
$18.03$12.9B
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ARCC logoAres Capital Corporation(ARCC)Earnings, Financials & Key Ratios

ARCC•NASDAQ•Banking & Credit
9.7× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutAres Capital Corporation is a business development company specializing in 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 the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. 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 $20 million and $200 million and a maximum of $400 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.Show more
  • Net Interest Income$1.12B-25.2%
  • Total Revenue$3.15B+32.9%
  • Net Income$1.3B-14.7%
  • Return on Equity9.39%-24.3%
  • Net Interest Margin3.6%-32.3%
  • Efficiency Ratio6.01%+25.9%
  • ROA4.37%-25.3%
  • Equity / Assets45.84%-3.0%
  • Book Value per Share20.48-4.3%

ARCC Key Insights

Ares Capital Corporation (ARCC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 21.8%
  • ✓Strong NIM of 3.6%
  • ✓Efficient operations: 6.0% efficiency ratio
  • ✓Well capitalized: 45.8% equity/assets
  • ✓Healthy dividend yield of 2.1%
  • ✓Diversified revenue: 43.7% from non-interest income

✗Weaknesses

  • ✗Shares diluted 12.0% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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ARCC Price & Volume

Ares Capital Corporation (ARCC) stock price & volume — 10-year historical chart

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ARCC Growth Metrics

Ares Capital Corporation (ARCC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years16.58%
5 Years29.67%
3 Years38.03%
TTM-

Profit CAGR

10 Years13.11%
5 Years21.83%
3 Years29.37%
TTM-12.48%

EPS CAGR

10 Years4.48%
5 Years10.29%
3 Years16.05%
TTM-20.49%

Return on Capital

10 Years6.14%
5 Years6.63%
3 Years7.03%
Last Year7.53%

ARCC Recent Earnings

Ares Capital Corporation (ARCC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 3/12 qtrs (27%)●Beat Revenue 1/12 qtrs (10%)
Q2 2026Latest
Apr 28, 2026
Metric
Actual
Est
EPS
$0.47-2.1%
$0.48
Rev
$763M-1.9%
$778M
Q1 2026
Feb 4, 2026
Metric
Actual
Est
EPS
$0.50+0.0%
$0.50
Rev
$793M-0.0%
$793M
Q4 2025
Oct 28, 2025
Metric
Actual
Est
EPS
$0.50-0.6%
$0.50
Rev
$655M-14.7%
$768M
Q3 2025
Jul 29, 2025
Metric
Actual
Est
EPS
$0.50-1.2%
$0.51
Rev
$579M-22.7%
$749M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 28, 2026
$0.47vs $0.48-2.1%
$763Mvs $778M-1.9%
Q1 2026Feb 4, 2026
$0.50vs $0.50+0.0%
$793Mvs $793M-0.0%
Q4 2025Oct 28, 2025
$0.50vs $0.50-0.6%
$655Mvs $768M-14.7%
Q3 2025Jul 29, 2025
$0.50vs $0.51-1.2%
$579Mvs $749M-22.7%
Based on last 12 quarters of dataView full earnings history →

ARCC Peer Comparison

Ares Capital Corporation (ARCC) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.22B12.358.7042.5%26.91%5.24%1.23
OBDC logoOBDCBlue Owl Capital CorporationDirect Competitor5.4B10.878.7752.55%27.51%4.83%1.26
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor202.99M5.004.1036.55%-19.55%-3.39%1.33
HTGC logoHTGCHercules Capital, Inc.Direct Competitor2.9B15.498.3726.97%50.05%13.18%1.04
PSEC logoPSECProspect Capital CorporationProduct Competitor1.11B2.21-1.64-159.23%-38%-1.12%0.70
MAIN logoMAINMain Street Capital CorporationProduct Competitor4.74B50.979.23-11.06%58.59%14.32%0.82
SLRC logoSLRCSLR Investment Corp.Product Competitor677.57M12.427.3124.76%39.78%7.31%1.15
CGBD logoCGBDCarlyle Secured Lending, Inc.Product Competitor760.99M10.9510.8417.9%23.81%4.42%1.31

Compare ARCC vs Peers

Ares Capital Corporation (ARCC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GBDC

Most directly comparable listed peer for ARCC.

Scale Benchmark

vs JPM

Larger-name benchmark to compare ARCC against a more recognizable public peer.

Peer Set

Compare Top 5

vs GBDC, OBDC, TPVG, HTGC

ARCC Income Statement

Ares Capital Corporation (ARCC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income
726M801M889M842M875M1.01B1.43B1.5B1.12B557.48M
NII Growth %
13.61%10.33%10.99%-5.29%3.92%16%41.08%4.96%-25.18%-258.53%
Net Interest Margin %
5.88%6.21%5.96%5.2%4.2%4.53%6.02%5.32%3.6%1.82%
Interest Income
951M1.04B1.18B1.16B1.25B1.47B1.96B2.16B1.77B1.24B
Interest Expense
225M240M291M317M372M455M530M659M645.2M686.2M
Loan Loss Provision
00000000119.81M81.81M
Non-Interest Income
23M78M-65M-301M803M-274M204M205M1.38B1.39B
Non-Interest Income %
2.36%6.97%-5.83%-35.08%39.17%-22.91%9.42%8.66%43.73%52.75%
Total Revenue
974M▲ 0%
1.12B▲ 14.9%
1.11B▼ 0.4%
858M▼ 23.0%
2.05B▲ 138.9%
1.2B▼ 41.7%
2.17B▲ 81.1%
2.37B▲ 9.3%
3.15B▲ 32.9%
2.63B▲ 0%
Revenue Growth %
32.16%14.89%-0.36%-23.05%138.93%-41.66%81.1%9.28%32.87%98.76%
Non-Interest Expense
63M2M15M38M82M86M94M113M189M122M
Efficiency Ratio
6.47%0.18%1.35%4.43%4%7.19%4.34%4.77%6.01%4.64%
Operating Income
686M▲ 0%
877M▲ 27.8%
809M▼ 7.8%
503M▼ 37.8%
1.6B▲ 217.3%
655M▼ 59.0%
1.54B▲ 135.4%
1.59B▲ 3.4%
2.19B▲ 37.4%
1.74B▲ 0%
Operating Margin %
70.43%78.37%72.56%58.62%77.85%54.77%71.19%67.38%69.67%66.19%
Operating Income Growth %
38.59%27.84%-7.75%-37.82%217.3%-58.96%135.42%3.44%37.37%-
Pretax Income
686M▲ 0%
877M▲ 27.8%
809M▼ 7.8%
503M▼ 37.8%
1.6B▲ 217.3%
655M▼ 59.0%
1.54B▲ 135.4%
1.59B▲ 3.4%
1.4B▼ 12.4%
1.23B▲ 0%
Pretax Margin %
70.43%78.37%72.56%58.62%77.85%54.77%71.19%67.38%44.45%46.58%
Income Tax
19M19M16M19M29M55M20M73M99M76M
Effective Tax Rate %
2.77%2.17%1.98%3.78%1.82%8.4%1.3%4.58%7.08%6.2%
Net Income
667M▲ 0%
858M▲ 28.6%
793M▼ 7.6%
484M▼ 39.0%
1.57B▲ 223.8%
600M▼ 61.7%
1.52B▲ 153.7%
1.52B▲ 0.0%
1.3B▼ 14.7%
1.15B▲ 0%
Net Margin %
68.48%76.68%71.12%56.41%76.44%50.17%70.27%64.3%41.3%43.69%
Net Income Growth %
40.72%28.64%-7.58%-38.97%223.76%-61.71%153.67%0%-14.65%-12.48%
Net Income (Continuing)
667M858M793M484M1.57B600M1.52B1.52B1.3B1.15B
EPS (Diluted)
1.57▲ 0%
2.01▲ 28.0%
1.86▼ 7.5%
1.14▼ 38.7%
3.51▲ 207.9%
1.19▼ 66.1%
2.68▲ 125.2%
2.44▼ 9.0%
1.86▼ 23.8%
1.60▲ 0%
EPS Growth %
3.97%28.03%-7.46%-38.71%207.89%-66.1%125.21%-8.96%-23.77%-20.49%
EPS (Basic)
1.572.011.861.143.511.212.752.441.86-
Diluted Shares Outstanding
425M426M427M424M446M518M575M624M699M718M

ARCC Balance Sheet

Ares Capital Corporation (ARCC) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments
316M296M176M254M372M303M535M635M924M2.91B
Cash & Due from Banks
316M296M176M254M372M303M535M635M924M505M
Short Term Investments
0000000000
Total Investments
11.84B12.42B14.43B15.52B20.01B21.78B22.89B26.72B29.48B0
Investments Growth %
34.25%4.86%16.18%7.55%28.97%8.85%5.09%16.75%10.34%0%
Long-Term Investments
11.84B12.42B14.43B15.52B20.01B21.78B22.89B26.72B29.48B29.48B
Accounts Receivables
000223M222M180M261M516M605M0
Goodwill & Intangibles
0000000000
Goodwill
0000000000
Intangible Assets
0000000000
PP&E (Net)
0094M38M27M20M0000
Other Assets
-11.84B-12.42B-14.43B94M99M81M86M381M144M30.17B
Total Current Assets
409M399M307M549M708M517M825M1.15B1.53B505M
Total Non-Current Assets
11.84B12.42B94M15.65B20.14B21.88B22.98B27.1B29.63B30.17B
Total Assets
12.35B▲ 0%
12.89B▲ 4.4%
14.9B▲ 15.6%
16.2B▲ 8.7%
20.84B▲ 28.7%
22.4B▲ 7.5%
23.8B▲ 6.3%
28.25B▲ 18.7%
31.23B▲ 10.6%
30.68B▲ 0%
Asset Growth %
33.55%4.44%15.59%8.66%28.69%7.46%6.26%18.71%10.55%43.98%
Return on Assets (ROA)
6.18%6.8%5.71%3.11%8.46%2.78%6.59%5.85%4.37%3.78%
Accounts Payable
245M155M177M66M307M87M115M406M86M225M
Total Debt
4.85B5.21B7.09B8.6B11.16B12.38B11.95B13.76B15.99B15.85B
Net Debt
-316M-296M6.92B8.35B10.79B12.07B11.41B13.12B15.07B15.34B
Long-Term Debt
007B8.51B11.09B11.54B10.62B13.76B15.99B15.85B
Short-Term Debt
00027M20M807M1.33B000
Other Liabilities
00-4.6M72M114M56M116M734M4M186M
Total Current Liabilities
395M348M121M375M724M1.22B1.87B406M894M580M
Total Non-Current Liabilities
4.85B5.21B7.09B8.64B11.25B11.63B10.73B14.49B16.02B16.03B
Total Liabilities
5.25B5.59B7.44B9.02B11.97B12.84B12.6B14.9B16.92B16.61B
Total Equity
7.1B▲ 0%
7.3B▲ 2.8%
7.47B▲ 2.3%
7.18B▼ 3.9%
8.87B▲ 23.6%
9.55B▲ 7.7%
11.2B▲ 17.2%
13.36B▲ 19.2%
14.32B▲ 7.2%
14.06B▲ 0%
Equity Growth %
37.43%2.85%2.29%-3.9%23.58%7.75%17.23%19.23%7.21%35.72%
Equity / Assets (Capital Ratio)
57.49%56.61%50.1%44.31%42.55%42.66%47.06%47.27%45.84%45.85%
Return on Equity (ROE)
10.88%11.92%10.74%6.61%19.53%6.51%14.67%12.4%9.39%8.11%
Book Value per Share
16.7017.1417.4916.9219.8818.4519.4821.4020.4819.59
Tangible BV per Share
16.7017.1417.4916.9219.8818.4519.4821.4020.4819.59
Common Stock
000001M1M1M1M1M
Additional Paid-in Capital
7.19B7.17B7.76B7.66B8.55B9.56B10.74B12.5B13.36B13.36B
Retained Earnings
-94M127M-293M-480M315M-2M462M852M958M705M
Accumulated OCI
0000000000
Treasury Stock
0000000000
Preferred Stock
0000000000

ARCC Cash Flow Statement

Ares Capital Corporation (ARCC) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-1.87B666M681M734M935M746M1B1.28B1.14B1.14B
Operating CF Growth %
-363.93%135.69%2.25%7.78%27.38%-20.21%34.05%28.2%-10.92%-19.6%
Net Income
667M858M793M484M1.57B600M1.52B1.52B1.42B1.15B
Depreciation & Amortization
1M000000034M10M
Deferred Taxes
0000000000
Other Non-Cash Items
-2.54B-208M-73M172M-840M293M-553M-430M-225M-130M
Working Capital Changes
3M16M-39M78M208M-147M31M190M-82M-192M
Cash from Investing
-182M-362M-1.89B-1.29B-3.39B-2.1B-489M-3.41B-2.86B-2.31B
Purchase of Investments
-7.23B-7.11B-6.8B-6.76B-13.64B-9.85B-5.8B-12.62B-14.07B-14.34B
Sale/Maturity of Investments
7.05B6.75B4.91B5.47B10.25B7.75B5.32B9.21B11.22B12.03B
Net Investment Activity
-182M-362M-1.89B-1.29B-3.39B-2.1B-489M-3.41B-2.86B-2.31B
Acquisitions
0000000000
Other Investing
0000000000
Cash from Financing
2.14B-324M1.09B707M2.62B1.21B-284M2.42B1.78B1.15B
Dividends Paid
-642M-656M-694M-679M-694M-912M-1.03B-1.14B-268M-1.02B
Share Repurchases
000-100M000000
Stock Issued
1.84B064M4M819M1B1.16B1.36B928M544M
Net Stock Activity
1.84B064M-96M819M1B1.16B1.36B928M544M
Debt Issuance (Net)
1000K1000K1000K1000K1000K1000K-1000K1000K1000K2M
Other Financing
-37M-19M-59M-60M-64M-16M-20M-59M-996M-311M
Net Change in Cash
93M▲ 0%
-20M▼ 121.5%
-120M▼ 500.0%
150M▲ 225.0%
160M▲ 6.7%
-149M▼ 193.1%
227M▲ 252.3%
296M▲ 30.4%
64M▼ 78.4%
-87M▲ 0%
Exchange Rate Effect
0000000000
Cash at Beginning
223M316M296M176M326M486M337M564M860M924M
Cash at End
316M296M176M326M486M337M564M860M924M655M
Interest Paid
0000000000
Income Taxes Paid
0000000000
Free Cash Flow
-1.87B▲ 0%
666M▲ 135.7%
681M▲ 2.3%
734M▲ 7.8%
935M▲ 27.4%
746M▼ 20.2%
1B▲ 34.0%
1.28B▲ 28.2%
1.14B▼ 10.9%
1.14B▲ 0%
FCF Growth %
-135.69%2.25%7.78%27.38%-20.21%34.05%28.2%-10.92%-7.96%

ARCC Banking Ratios

Ares Capital Corporation (ARCC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
10.88%11.92%10.74%6.61%19.53%6.51%14.67%12.4%9.39%8.11%
Return on Assets (ROA)
6.18%6.8%5.71%3.11%8.46%2.78%6.59%5.85%4.37%3.78%
Net Interest Margin
5.88%6.21%5.96%5.2%4.2%4.53%6.02%5.32%3.6%1.82%
Efficiency Ratio
6.47%0.18%1.35%4.43%4%7.19%4.34%4.77%6.01%4.64%
Equity / Assets
57.49%56.61%50.1%44.31%42.55%42.66%47.06%47.27%45.84%45.85%
Book Value / Share
16.717.1417.4916.9219.8818.4519.4821.420.4819.59
NII Growth
13.61%10.33%10.99%-5.29%3.92%16%41.08%4.96%-25.18%-62.53%
Dividend Payout
96.25%76.46%87.52%140.29%44.29%152%67.74%74.84%-85.39%
Related:ARCC Dividend History·ARCC Revenue History·ARCC Price History·ARCC P/E History·ARCC Financial Ratios·ARCC Institutional Holders

ARCC SEC Filings & Documents

Ares Capital Corporation (ARCC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 28, 2026·SEC

Material company update

Apr 28, 2026·SEC

Material company update

Feb 27, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 4, 2026·SEC

FY 2025

Feb 5, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 29, 2025·SEC

ARCC Frequently Asked Questions

Ares Capital Corporation (ARCC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Ares Capital Corporation (ARCC) grew revenue by 32.9% over the past year. This is strong growth.

Yes, Ares Capital Corporation (ARCC) is profitable, generating $1.15B in net income for fiscal year 2025 (41.3% net margin).

Dividend & Returns

Yes, Ares Capital Corporation (ARCC) pays a dividend with a yield of 2.13%. This makes it attractive for income-focused investors.

Ares Capital Corporation (ARCC) has a return on equity (ROE) of 9.4%. This is below average, suggesting room for improvement.

Industry Metrics

Ares Capital Corporation (ARCC) has a net interest margin (NIM) of 3.6%. This indicates healthy earnings from lending activities.

Ares Capital Corporation (ARCC) has an efficiency ratio of 6.0%. This is excellent, indicating strong cost control.

What if you invested $1,000 in ARCC back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

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