Last 48 quarters of trend data · Financial Services · Asset Management
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Ares Capital Corporation's quarterly P/E stands at 34.6x, up 124.9% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 65.1% YoY to 10.0x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 9.69 | 34.62 | 12.34 | 8.95 | 10.56 | 15.39 | 9.95 | 8.44 | 10.02 | 6.85 | 7.15 | 5.59 | 7.96 |
| — | +124.9% | +24.0% | +6.0% | +5.4% | +124.7% | +39.1% | +50.9% | +25.8% | -23.5% | -48.9% | -72.2% | -60.9% | |
| P/S Ratio | 4.12 | 4.23 | 5.57 | 5.52 | 6.59 | 8.40 | 6.32 | 5.42 | 6.03 | 4.81 | 5.05 | 4.29 | 5.45 |
| — | -49.6% | -11.9% | +1.8% | +9.2% | +74.4% | +25.2% | +26.3% | +10.8% | -18.5% | -30.0% | -51.6% | -45.6% | |
| P/B Ratio | 0.88 | 0.92 | 0.99 | 1.01 | 1.09 | 1.10 | 1.07 | 1.04 | 1.04 | 1.04 | 1.06 | 1.05 | 1.03 |
| — | -16.1% | -8.0% | -2.9% | +4.7% | +5.7% | +1.2% | -0.6% | +0.9% | +2.7% | +2.7% | +12.0% | +4.2% | |
| P/FCF | 11.34 | 17.56 | 14.25 | 9.91 | 11.00 | 20.58 | 8.74 | 9.86 | 10.22 | 13.92 | 9.83 | 10.12 | 14.48 |
| — | -14.7% | +63.0% | +0.5% | +7.6% | +47.8% | -11.1% | -2.5% | -29.4% | +28.5% | +4.5% | +20.1% | +52.7% | |
| EV / EBITDA | 12.79 | 9.95 | 13.80 | 16.84 | 19.13 | 28.48 | 18.56 | 16.23 | 18.19 | 12.91 | 13.80 | 11.14 | 16.11 |
| — | -65.1% | -25.6% | +3.8% | +5.2% | +120.7% | +34.5% | +45.7% | +12.9% | -31.5% | -51.7% | -74.4% | -62.7% | |
| EV / EBIT | 12.79 | 9.95 | 13.80 | 16.84 | 19.13 | 28.48 | 18.56 | 16.23 | 18.19 | 12.91 | 13.80 | 11.14 | 16.11 |
| — | -65.1% | -25.6% | +3.8% | +5.2% | +120.7% | +34.5% | +45.7% | +12.9% | -31.5% | -51.7% | -74.4% | -62.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Ares Capital Corporation's operating margin was 52.9% in Q1 2026, down 30.4 pp QoQ and down 2.7 pp YoY. The trailing four-quarter average of 66.8% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 17.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.7% | 72.1% | 70.4% | 70.2% | 70.3% | 61.4% | 69.3% | 70.5% | 69.9% | 77.5% | 75.5% | 80.0% | 73.8% |
| — | +17.3% | +1.6% | -0.3% | +0.5% | -20.7% | -8.2% | -11.9% | -5.3% | +10.0% | +20.7% | +38.3% | +18.7% | |
| Operating Margin | 69.7% | 52.9% | 83.3% | 65.8% | 65.3% | 55.6% | 65.3% | 66.2% | 65.2% | 71.4% | 71.8% | 76.2% | 68.9% |
| — | -4.8% | +27.7% | -0.6% | +0.1% | -22.1% | -9.1% | -13.1% | -5.4% | +9.3% | +27.8% | +60.8% | +31.0% | |
| Net Margin | 41.3% | 12.1% | 46.1% | 61.7% | 62.3% | 54.0% | 63.0% | 64.3% | 60.5% | 70.3% | 70.2% | 75.8% | 67.7% |
| — | -77.7% | -26.7% | -4.0% | +3.0% | -23.1% | -10.4% | -15.2% | -10.6% | +8.4% | +38.1% | +81.4% | +40.3% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.4% | 0.6% | 2.0% | 2.8% | 2.6% | 1.8% | 2.7% | 3.1% | 2.7% | 3.9% | 3.8% | 4.7% | 3.2% |
| — | -63.6% | -25.1% | -9.1% | -1.9% | -54.2% | -27.2% | -33.6% | -18.1% | +37.2% | +104.7% | +326.3% | +173.5% | |
| ROA | 4.4% | 0.3% | 0.9% | 1.3% | 1.3% | 0.9% | 1.3% | 1.5% | 1.3% | 1.9% | 1.8% | 2.2% | 1.5% |
| — | -65.1% | -26.8% | -8.9% | -1.6% | -54.4% | -27.0% | -33.1% | -14.9% | +48.6% | +125.8% | +366.8% | +186.1% | |
| ROIC | 5.7% | 1.0% | 1.3% | 1.1% | 1.0% | 0.7% | 1.0% | 1.2% | 1.1% | 1.5% | 1.4% | 1.7% | 1.2% |
| — | +48.0% | +26.8% | -5.5% | -4.3% | -53.5% | -25.2% | -30.9% | -9.2% | +50.8% | +109.1% | +310.7% | +166.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Ares Capital Corporation's Debt/EBITDA ratio is 22.3x, down from 30.2x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 86.7% YoY to 0.87x, tightening the short-term liquidity position. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.12 | 1.13 | 1.12 | 1.09 | 1.01 | 1.02 | 1.03 | 1.06 | 1.05 | 0.99 | 1.07 | 1.07 | 1.11 |
| — | +10.7% | +8.4% | +2.7% | -4.4% | +2.9% | -3.4% | -1.1% | -5.0% | -12.2% | -17.6% | -15.5% | -12.9% | |
| Debt / EBITDA | 7.30 | 22.32 | 30.23 | 36.21 | 37.33 | 56.14 | 37.19 | 33.37 | 37.48 | 25.75 | 28.32 | 23.06 | 34.04 |
| — | -60.2% | -18.7% | +8.5% | -0.4% | +118.0% | +31.3% | +44.7% | +10.1% | -36.3% | -56.1% | -77.3% | -65.3% | |
| Current Ratio | 1.71 | 0.87 | 1.71 | 12.82 | 3.78 | 6.56 | 2.83 | 5.29 | 5.72 | 8.04 | 0.44 | 1.84 | 1.55 |
| — | -86.7% | -39.7% | +142.3% | -33.8% | -18.4% | +541.2% | +187.3% | +269.6% | +583.0% | +4.1% | +94.4% | +77.8% | |
| Quick Ratio | 1.71 | 0.87 | 1.71 | 12.82 | 3.78 | 6.56 | 2.83 | 5.29 | 5.72 | 8.04 | 0.44 | 1.84 | 1.55 |
| — | -86.7% | -39.7% | +142.3% | -33.8% | -18.4% | +541.2% | +187.3% | +269.6% | +583.0% | +4.1% | +94.4% | +77.8% | |
| Interest Coverage | 3.40 | 3.33 | 4.98 | 2.21 | 2.20 | 1.44 | 2.13 | 2.24 | 2.17 | 3.17 | 2.93 | 3.81 | 2.63 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
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 9.7x. The average P/E over the last 4 quarters is 16.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ares Capital Corporation's current operating margin is 69.7%. Margins have been compressing 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.