
Ares Capital Corporation
NASDAQ•ARCC
CEO: Mr. Robert Kipp DeVeer III
Sector: Financial Services
Industry: Asset Management
Listing Date: 2004-10-05
Ares 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.
Contact Information
1800 Avenue of the Stars, Suite 1400, Los Angeles, CA, 90067-4733, United States
310-201-4100
Market Cap
$14.46B
P/E (TTM)
11.0
0
Dividend Yield
9.5%
52W High
$23.84
52W Low
$18.26
52W Range
Rank47Top 48.2%
3.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$655.00M-12.78%
4-Quarter Trend
EPS
$0.57-8.06%
4-Quarter Trend
FCF
$365.00M+8.31%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
NAV Per Share Increased Net asset value per share grew to $20.01 USD as of September 30, 2025, up from $19.89 USD at year-end 2024.
Total Assets Grew Substantially Total assets reached $30.81B USD, reflecting $2.55B growth since December 31, 2024, supported by new investment activity.
Nine-Month Investment Income Up Total investment income for nine months reached $2.26B USD, slightly increasing from $2.23B USD reported in the prior year period.
Strong Equity Position Maintained Total stockholders’ equity increased to $14.32B USD as of September 30, 2025, providing a solid foundation for future deployment.
Risk Factors
Net Investment Income Pressure Nine-month net investment income declined to $1.05B USD, primarily due to higher interest expenses offsetting investment income growth.
Interest Rate Sensitivity Exposure A 300 basis point adverse interest rate shift could reduce net income by an estimated $321M USD, highlighting rate sensitivity.
Credit Quality Deterioration Loans on non-accrual status represented 1.8% of total amortized cost investments as of September 30, 2025, signaling potential credit stress.
Reduced Realized/Unrealized Gains Nine-month net realized and unrealized gains decreased to $66M USD, compared to $105M USD in the prior comparable nine-month period.
Outlook
Significant Undrawn Commitments Total unfunded revolving and delayed draw loan commitments stood at $4.62B USD, ready for deployment pending covenant satisfaction.
Managing Capital Structure Company maintains flexibility to issue new stock or repurchase debt, with $1.0B USD available under the stock repurchase program.
SDLP Commitment Capacity Unfunded commitments to the Senior Direct Lending Program totaled $260M USD as of September 30, 2025, subject to committee approval.
Market Volatility Concerns Management notes ongoing geopolitical conflicts and inflation uncertainty could materially impact market risks and portfolio valuations.
Peer Comparison
Revenue (TTM)
ARCC$2.23B
MAIN$672.28M
$446.97M
Gross Margin (Latest Quarter)
248.1%
85.8%
74.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| ARCC | $14.46B | 11.0 | 9.4% | 0.0% |
| MAIN | $5.44B | 15.5 | 12.2% | 0.0% |
| HTGC | $3.40B | 17.7 | 9.1% | 0.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
18.6%
Strong Growth
4Q Net Income CAGR
4.2%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Next earnings:Feb 4, 2026
EPS:$0.50
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 28, 2025|Revenue: $655.00M-12.8%|EPS: $0.57-8.1%MeetForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 29, 2025|Revenue: $579.00M+49.2%|EPS: $0.52+0.0%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: Apr 29, 2025|Revenue: $599.00M+21.0%|EPS: $0.36-52.6%MissForm 10-K/A - FY 2024
Period End: Dec 31, 2024|Filed: Mar 24, 2025|Revenue: $2.37B+44.7%|EPS: $2.44-11.3%BeatForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 5, 2025|Refer to amended dataForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Oct 30, 2024|Revenue: $751.00M+42.2%|EPS: $0.62-30.3%BeatForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Jul 30, 2024|Revenue: $388.00M-21.9%|EPS: $0.52-14.8%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 1, 2024|Revenue: $495.00M-13.0%|EPS: $0.76+46.2%Meet