Last 48 quarters of trend data · Financial Services · BDCs & Private Credit
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.74 | 10.85 | 19.30 | 34.65 | 12.34 | 8.95 | 10.56 | 15.39 | 9.95 | 8.44 | 10.02 | 6.85 | 7.15 | 5.59 | 7.96 | 8.96 | 13.99 | 20.10 | 20.38 | 12.18 | 6.31 |
| — | +21.2% | +82.8% | +125.2% | +24.0% | +6.0% | +5.4% | +124.7% | +39.1% | +50.9% | +25.8% | -23.5% | -48.9% | -72.2% | -60.9% | -26.5% | +121.9% | +188.6% | +353.5% | +126.5% | +32.9% | |
| P/S Ratio | 8.63 | 6.34 | 6.00 | 21.42 | 10.28 | 7.86 | 9.37 | 13.67 | 9.12 | 7.69 | 8.63 | 6.21 | 6.69 | 5.37 | 7.38 | 8.39 | 11.52 | 15.33 | 16.11 | 8.97 | 5.84 |
| — | -19.3% | -36.0% | +56.7% | +12.7% | +2.2% | +8.7% | +119.9% | +36.4% | +43.4% | +16.9% | -26.0% | -42.0% | -65.0% | -54.2% | -6.4% | +97.3% | +145.0% | +280.6% | +98.0% | +32.1% | |
| P/B Ratio | 0.93 | 0.99 | 0.96 | 0.92 | 0.99 | 1.01 | 1.09 | 1.10 | 1.07 | 1.04 | 1.04 | 1.04 | 1.06 | 1.05 | 1.03 | 1.01 | 1.03 | 0.94 | 0.99 | 1.12 | 1.11 |
| — | -2.4% | -11.9% | -16.0% | -8.0% | -2.9% | +4.7% | +5.7% | +1.2% | -0.6% | +0.9% | +2.7% | +2.7% | +12.0% | +4.2% | -9.7% | -6.7% | -13.3% | -7.5% | +6.2% | +11.1% | |
| P/FCF | 7.85 | 3.27 | 9.90 | 28.37 | 14.25 | 9.91 | 11.00 | 20.58 | 8.74 | 9.86 | 10.22 | 13.92 | 9.83 | 10.12 | 14.48 | 10.83 | 9.41 | 8.42 | 9.48 | — | 7.24 |
| — | -67.0% | -10.0% | +37.9% | +63.0% | +0.5% | +7.6% | +47.8% | -11.1% | -2.5% | -29.4% | +28.5% | +4.5% | +20.1% | +52.7% | — | +30.1% | -3.4% | +29.4% | — | +18.7% | |
| EV / EBITDA | 16.49 | 12.89 | 9.46 | 57.02 | 22.89 | 16.84 | 19.13 | 28.48 | 18.56 | 16.23 | 18.19 | 12.91 | 13.80 | 11.14 | 16.11 | 18.84 | 28.56 | 43.55 | 43.16 | 22.81 | 13.20 |
| — | -23.5% | -50.5% | +100.2% | +23.4% | +3.8% | +5.2% | +120.7% | +34.5% | +45.7% | +12.9% | -31.5% | -51.7% | -74.4% | -62.7% | -17.4% | +116.4% | +226.6% | +378.4% | +118.3% | +31.3% | |
| EV / EBIT | 20.60 | 12.89 | 9.46 | 57.02 | 22.89 | 16.84 | 19.13 | 28.48 | 18.56 | 16.23 | 18.19 | 12.91 | 13.80 | 11.14 | 16.11 | 18.84 | 28.56 | 43.55 | 43.16 | 22.81 | 13.20 |
| — | -23.5% | -50.5% | +100.2% | +23.4% | +3.8% | +5.2% | +120.7% | +34.5% | +45.7% | +12.9% | -31.5% | -51.7% | -74.4% | -62.7% | -17.4% | +116.4% | +226.6% | +378.4% | +118.3% | +31.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 105.5% | 107.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | +5.5% | +7.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin | 92.8% | 102.4% | 104.9% | 82.1% | 92.7% | 93.7% | 92.9% | 90.5% | 94.1% | 94.0% | 93.3% | 92.1% | 95.0% | 95.3% | 93.4% | 92.7% | 89.7% | 81.9% | 84.6% | 76.7% | 92.9% |
| — | +9.3% | +12.9% | -9.3% | -1.5% | -0.3% | -0.4% | -1.7% | -0.9% | -1.3% | -0.1% | -0.6% | +5.9% | +16.3% | +10.3% | +20.9% | -3.4% | -11.0% | -11.9% | -10.1% | -2.6% | |
| Net Margin | 86.3% | 58.9% | 30.9% | 60.9% | 85.2% | 87.8% | 88.7% | 88.0% | 90.8% | 91.2% | 86.6% | 90.7% | 93.0% | 94.7% | 91.7% | 92.1% | 81.3% | 72.2% | 77.6% | 72.3% | 91.0% |
| — | -33.0% | -65.2% | -30.7% | -6.2% | -3.7% | +2.5% | -3.0% | -2.3% | -3.7% | -5.6% | -1.5% | +14.4% | +31.1% | +18.1% | +27.4% | -10.6% | -20.4% | -17.3% | -14.2% | -2.8% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.4% | 2.3% | 1.2% | 0.6% | 2.0% | 2.8% | 2.6% | 1.8% | 2.7% | 3.1% | 2.7% | 3.9% | 3.8% | 4.7% | 3.2% | 2.8% | 1.8% | 1.1% | 1.2% | 2.3% | 4.4% |
| — | -19.6% | -53.1% | -63.6% | -25.1% | -9.1% | -1.9% | -54.2% | -27.2% | -33.6% | -18.1% | +37.2% | +104.7% | +326.3% | +173.5% | +22.6% | -58.3% | -72.4% | -80.5% | -54.1% | -17.9% | |
| ROA | 4.4% | 1.0% | 0.6% | 0.3% | 0.9% | 1.3% | 1.3% | 0.9% | 1.3% | 1.5% | 1.3% | 1.9% | 1.8% | 2.2% | 1.5% | 1.3% | 0.8% | 0.5% | 0.5% | 1.0% | 1.9% |
| — | -22.6% | -55.6% | -65.1% | -26.8% | -8.9% | -1.6% | -54.4% | -27.0% | -33.1% | -14.9% | +48.6% | +125.8% | +366.8% | +186.1% | +23.1% | -59.0% | -73.6% | -81.3% | -55.9% | -21.3% | |
| ROIC | 3.7% | 1.4% | 1.5% | 0.3% | 0.8% | 1.1% | 1.0% | 0.7% | 1.0% | 1.2% | 1.1% | 1.5% | 1.4% | 1.7% | 1.2% | 1.0% | 0.7% | 0.4% | 0.4% | 0.8% | 1.5% |
| — | +27.3% | +43.8% | -54.6% | -23.5% | -5.5% | -4.3% | -53.5% | -25.2% | -30.9% | -9.2% | +50.8% | +109.1% | +310.7% | +166.0% | +15.6% | -56.1% | -70.5% | -80.1% | -53.4% | -20.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.12 | 1.08 | 1.14 | 1.13 | 1.12 | 1.09 | 1.01 | 1.02 | 1.03 | 1.06 | 1.05 | 0.99 | 1.07 | 1.07 | 1.11 | 1.13 | 1.30 | 1.27 | 1.27 | 1.14 | 1.26 |
| — | -0.5% | +12.9% | +10.7% | +8.4% | +2.7% | -4.4% | +2.9% | -3.4% | -1.1% | -5.0% | -12.2% | -17.6% | -15.5% | -12.9% | -0.8% | +3.0% | +7.7% | +9.3% | +7.0% | +5.0% | |
| Debt / EBITDA | 11.44 | 27.70 | 20.81 | 127.81 | 50.13 | 36.21 | 37.33 | 56.14 | 37.19 | 33.37 | 37.48 | 25.75 | 28.32 | 23.06 | 34.04 | 40.44 | 64.46 | 101.54 | 98.17 | 47.57 | 28.61 |
| — | -23.5% | -44.3% | +127.7% | +34.8% | +8.5% | -0.4% | +118.0% | +31.3% | +44.7% | +10.1% | -36.3% | -56.1% | -77.3% | -65.3% | -15.0% | +125.3% | +242.1% | +410.4% | +121.9% | +28.1% | |
| Current Ratio | 1.71 | 1.14 | 1.14 | 0.87 | 1.71 | 12.82 | 3.78 | 6.56 | 2.83 | 5.29 | 5.72 | 8.04 | 0.44 | 1.84 | 1.55 | 1.18 | 0.42 | 0.95 | 0.87 | 1.95 | 0.98 |
| — | -91.1% | -69.8% | -86.7% | -39.7% | +142.3% | -33.8% | -18.4% | +541.2% | +187.3% | +269.6% | +583.0% | +4.1% | +94.4% | +77.8% | -39.5% | -56.6% | -60.6% | -40.0% | +37.1% | -33.2% | |
| Quick Ratio | 1.71 | 1.14 | 1.14 | 0.87 | 1.71 | 12.82 | 3.78 | 6.56 | 2.83 | 5.29 | 5.72 | 8.04 | 0.44 | 1.84 | 1.55 | 1.18 | 0.42 | 0.95 | 0.87 | 1.95 | 0.98 |
| — | -91.1% | -69.8% | -86.7% | -39.7% | +142.3% | -33.8% | -18.4% | +541.2% | +187.3% | +269.6% | +583.0% | +4.1% | +94.4% | +77.8% | -39.5% | -56.6% | -60.6% | -40.0% | +37.1% | -33.2% | |
| Interest Coverage | 1.90 | 2.47 | 3.54 | 0.63 | 1.63 | 2.21 | 2.20 | 1.44 | 2.13 | 2.24 | 2.17 | 3.17 | 2.93 | 3.81 | 2.63 | 2.20 | 1.50 | 1.12 | 1.39 | 2.70 | 4.59 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying ARCC stock.
Ares Capital Corporation's current P/E is 15.7x. The average P/E over the last 4 quarters is 19.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ares Capital Corporation's current operating margin is 92.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Ares Capital Corporation's business trajectory between earnings reports.