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Ares Capital (ARCC) Financials

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$20.32 +0.15 (+0.73%)
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Annual Income Statements for Ares Capital

Annual Income Statements for Ares Capital

This table shows Ares Capital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 736 -416 600 1,522 1,522
Consolidated Net Income / (Loss)		 484 -416 671 1,602 1,520
Net Income / (Loss) Continuing Operations		 794 -416 671 1,602 1,520
Total Pre-Tax Income 		813 -416 671 1,602 1,520
Total Revenue		 1,511 701 1,232 2,362 2,392
Net Interest Income / (Expense)		 1,159 -372 1,441 2,135 1,788
Total Interest Income		 1,159 0.00 1,896 2,717 2,503
Investment Securities Interest Income		 0.00 - 1,896 2,717 2,503
Total Interest Expense		 0.00 372 455 582 715
Long-Term Debt Interest Expense		 - 372 455 582 715
Total Non-Interest Income		 149 1,073 -209 227 604
Other Service Charges		 149 45 259 127 289
Net Realized & Unrealized Capital Gains on Investments		 0.00 1,028 -468 100 59
Other Non-Interest Income		 0.00 - - - 257
Total Non-Interest Expense		 572 1,117 561 760 872
Insurance Policy Acquisition Costs		 - - -101 53 18
Other Operating Expenses		 255 1,074 650 713 854
Basic Earnings per Share		 $1.14 $3.51 $1.21 $2.75 $2.44
Weighted Average Basic Shares Outstanding		 424M 446M 498M 554M 624M
Diluted Earnings per Share		 $1.14 $3.51 $1.19 $2.68 $2.44
Weighted Average Diluted Shares Outstanding		 424M 446M 518M 575M 624M
Weighted Average Basic & Diluted Shares Outstanding		 - - 531.37M 582.31M 671.48M
Cash Dividends to Common per Share		 $1.60 $1.62 $1.87 $1.92 $1.92

Quarterly Income Statements for Ares Capital

This table shows Ares Capital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders		 93 363 -127 331 500 818 -208 322 394 1,014
Consolidated Net Income / (Loss)		 104 123 -127 308 451 970 -208 324 353 1,051
Net Income / (Loss) Continuing Operations		 93 134 -127 308 451 970 -208 324 353 1,051
Total Pre-Tax Income 		93 134 -127 308 451 970 -208 324 353 1,051
Total Revenue		 -120 519 178 625 645 914 182 547 589 1,074
Net Interest Income / (Expense)		 -120 1,294 -139 480 478 1,316 -159 508 524 915
Total Interest Income		 0.00 1,528 0.00 480 623 1,614 0.00 682 719 1,102
Total Interest Expense		 120 234 139 0.00 145 298 159 174 195 187
Long-Term Debt Interest Expense		 - - 139 - 145 - 159 174 195 187
Total Non-Interest Income		 0.00 -775 317 145 167 -402 341 39 65 159
Other Service Charges		 0.00 208 17 31 28 51 13 77 51 147
Net Realized & Unrealized Capital Gains on Investments		 0.00 -983 300 114 139 -453 328 -38 14 -245
Total Non-Interest Expense		 -213 327 305 237 194 24 390 223 236 23
Other Operating Expenses		 -213 403 305 237 179 -8.00 376 236 212 30
Basic Earnings per Share		 $0.21 $0.34 $0.52 $0.61 $0.89 $0.73 $0.76 $0.52 $0.62 $0.54
Weighted Average Basic Shares Outstanding		 503M 498M 534M 547M 562M 554M 591M 616M 635M 624M
Diluted Earnings per Share		 $0.21 $0.33 $0.51 $0.59 $0.87 $0.71 $0.76 $0.52 $0.62 $0.54
Weighted Average Diluted Shares Outstanding		 523M 518M 555M 567M 582M 575M 591M 616M 635M 624M
Weighted Average Basic & Diluted Shares Outstanding		 508.26M 531.37M 544.58M 557.38M 569.44M 582.31M 607.76M 630.39M 646.08M 671.48M
Cash Dividends to Common per Share		 $0.46 $0.51 $0.48 $0.48 $0.48 $0.48 $0.48 $0.48 $0.48 $0.48

Annual Cash Flow Statements for Ares Capital

This table details how cash moves in and out of Ares Capital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 150 160 -149 227 296
Net Cash From Operating Activities		 -580 -2,459 -1,359 511 -2,128
Net Cash From Continuing Operating Activities		 -580 -2,459 -1,359 511 -2,128
Net Income / (Loss) Continuing Operations		 484 1,567 600 1,522 1,522
Consolidated Net Income / (Loss)		 484 1,567 600 1,522 1,522
Amortization Expense		 23 15 13 8.00 10
Non-Cash Adjustments to Reconcile Net Income		 -1,142 -4,076 -1,937 -997 -3,833
Changes in Operating Assets and Liabilities, net		 55 35 -35 -22 173
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00 0.00
Net Cash From Financing Activities		 730 2,619 1,210 -284 2,424
Net Cash From Continuing Financing Activities		 730 2,619 1,210 -284 2,424
Issuance of Debt		 8,256 19,387 7,955 5,215 13,238
Issuance of Common Equity		 4.00 819 1,001 1,155 1,364
Repayment of Debt		 -6,751 -16,893 -6,834 -5,623 -11,039
Payment of Dividends		 -679 -694 -912 -1,031 -1,139
Cash Interest Paid		 243 310 402 524 676
Cash Income Taxes Paid		 16 26 39 36 66

Quarterly Cash Flow Statements for Ares Capital

This table details how cash moves in and out of Ares Capital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents		 101 -25 40 76 152 -41 13 104 -57 236
Net Cash From Operating Activities		 20 -360 872 -48 46 -359 -21 -1,318 -521 -268
Net Cash From Continuing Operating Activities		 20 -360 872 -48 46 -359 -21 -1,318 -521 -268
Net Income / (Loss) Continuing Operations		 104 174 278 331 500 413 449 322 394 357
Consolidated Net Income / (Loss)		 104 174 278 331 500 413 449 322 394 357
Amortization Expense		 4.00 2.00 1.00 3.00 4.00 - 2.00 2.00 2.00 4.00
Non-Cash Adjustments to Reconcile Net Income		 -61 -605 684 -395 -465 -821 -444 -1,695 -947 -747
Changes in Operating Assets and Liabilities, net		 -27 69 -91 13 7.00 49 -28 53 30 118
Net Cash From Financing Activities		 81 335 -832 124 106 318 34 1,422 464 504
Net Cash From Continuing Financing Activities		 81 335 -832 124 106 318 34 1,422 464 504
Issuance of Debt		 1,436 2,965 1,015 882 1,069 2,249 2,417 5,372 2,860 2,589
Issuance of Common Equity		 229 193 477 227 215 236 85 449 302 528
Repayment of Debt		 -1,350 -2,576 -2,063 -732 -924 -1,904 -2,198 -4,120 -2,411 -2,310
Payment of Dividends		 -234 -247 -261 -253 -254 -263 -270 -279 -287 -303
Cash Interest Paid		 121 99 145 126 141 112 176 112 225 163
Cash Income Taxes Paid		 -21 6.00 28 - 1.00 7.00 25 7.00 26 8.00

Annual Balance Sheets for Ares Capital

This table presents Ares Capital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Total Assets		 20,843 22,398 23,800 28,254
Cash and Due from Banks		 372 303 535 635
Restricted Cash		 114 34 29 225
Trading Account Securities		 - - 22,936 26,777
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00
Other Assets		 403 295 362 674
Total Liabilities & Shareholders' Equity		 20,843 22,398 23,800 28,254
Total Liabilities		 11,975 12,843 12,599 14,899
Accrued Interest Payable		 100 105 132 170
Long-Term Debt		 11,094 12,289 11,918 13,759
Other Long-Term Liabilities		 781 449 549 970
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8,868 9,555 11,201 13,355
Total Preferred & Common Equity		 8,868 9,555 11,201 13,355
Total Common Equity		 8,868 9,555 11,201 13,355
Common Stock		 8,553 9,557 10,739 12,503
Retained Earnings		 - -2.00 462 852

Quarterly Balance Sheets for Ares Capital

This table presents Ares Capital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets		 22,038 21,812 22,231 22,920 24,256 26,092 27,100
Cash and Due from Banks		 257 359 411 527 509 601 486
Restricted Cash		 105 18 42 78 68 80 138
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 392 292 287 390 598 494 614
Total Liabilities & Shareholders' Equity		 22,038 21,812 22,231 22,920 24,256 26,092 27,100
Total Liabilities		 12,602 11,763 11,877 12,105 12,384 13,728 14,327
Accrued Interest Payable		 76 84 - 85 107 - 119
Long-Term Debt		 11,895 11,244 11,406 11,551 11,729 12,993 13,534
Other Long-Term Liabilities		 631 435 384 469 548 582 674
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 9,436 10,049 10,354 10,815 11,872 12,364 12,773
Total Preferred & Common Equity		 9,436 10,049 10,354 10,815 11,872 12,364 12,773
Total Common Equity		 9,436 10,049 10,354 10,815 11,872 12,364 12,773
Common Stock		 9,370 10,034 10,274 10,506 11,252 11,722 12,045
Retained Earnings		 66 15 80 309 620 642 728

Annual Metrics and Ratios for Ares Capital

This table displays calculated financial ratios and metrics derived from Ares Capital's official financial filings.

Metric 2020 2021 2022 2023 2024
Growth Metrics		 - - - - -
Revenue Growth		 0.00% -53.61% 75.75% 91.68% 1.30%
EBITDA Growth		 0.00% -141.68% 270.57% 135.31% -4.93%
EBIT Growth		 0.00% -144.30% 261.30% 138.67% -5.08%
NOPAT Growth		 0.00% -135.82% 330.43% 138.67% -5.08%
Net Income Growth		 0.00% -185.95% 261.30% 138.67% -5.08%
EPS Growth		 0.00% 207.89% -66.10% 125.21% -8.96%
Operating Cash Flow Growth		 0.00% -323.97% 44.73% 137.60% -516.44%
Free Cash Flow Firm Growth		 0.00% 0.00% 94.02% 126.96% -858.01%
Invested Capital Growth		 0.00% 0.00% 9.43% 5.84% 17.28%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 20.06% 7.19%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 76.09% 12.12%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 77.16% 11.88%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 109.07% 5.66%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 112.12% 5.66%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 16.52% -6.51%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 50.87% 0.20% 4.10%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 1.10%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 3.37% 3.07%
Profitability Metrics		 - - - - -
EBITDA Margin		 63.67% -57.20% 55.52% 68.16% 63.96%
EBIT Margin		 62.14% -59.34% 54.46% 67.82% 63.55%
Profit (Net Income) Margin		 32.03% -59.34% 54.46% 67.82% 63.55%
Tax Burden Percent		 59.53% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 86.58% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -2.92% 3.21% 7.12% 6.05%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -5.17% 3.21% 7.12% 6.05%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -6.46% 4.07% 8.31% 6.33%
Return on Equity (ROE)		 0.00% -9.38% 7.28% 15.43% 12.38%
Cash Return on Invested Capital (CROIC)		 0.00% -202.92% -5.79% 1.45% -9.85%
Operating Return on Assets (OROA)		 0.00% -2.00% 3.10% 6.93% 5.84%
Return on Assets (ROA)		 0.00% -2.00% 3.10% 6.93% 5.84%
Return on Common Equity (ROCE)		 0.00% -9.38% 7.28% 15.43% 12.38%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -4.69% 7.02% 14.30% 11.38%
Net Operating Profit after Tax (NOPAT)		 813 -291 671 1,602 1,520
NOPAT Margin		 53.81% -41.54% 54.46% 67.82% 63.55%
Net Nonoperating Expense Percent (NNEP)		 0.00% 2.25% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 37.86% 159.34% 45.54% 32.18% 36.45%
Earnings before Interest and Taxes (EBIT)		 939 -416 671 1,602 1,520
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 962 -401 684 1,610 1,530
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.79 0.91 1.04
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.79 0.91 1.04
Price to Revenue (P/Rev)		 0.00 0.00 6.14 4.31 5.78
Price to Earnings (P/E)		 0.00 0.00 12.61 6.68 9.08
Dividend Yield		 14.07% 10.46% 3.43% 10.75% 8.97%
Earnings Yield		 0.00% 0.00% 7.93% 14.96% 11.01%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.89 0.93 0.99
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 15.84 9.12 11.17
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 28.53 13.38 17.47
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 29.09 13.44 17.58
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 29.09 13.44 17.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 42.13 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 65.94 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 0.00 1.25 1.29 1.06 1.03
Long-Term Debt to Equity		 0.00 1.25 1.29 1.06 1.03
Financial Leverage		 0.00 1.25 1.27 1.17 1.05
Leverage Ratio		 0.00 2.35 2.35 2.23 2.12
Compound Leverage Factor		 0.00 2.35 2.35 2.23 2.12
Debt to Total Capital		 0.00% 55.58% 56.26% 51.55% 50.75%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 55.58% 56.26% 51.55% 50.75%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 44.42% 43.74% 48.45% 49.26%
Debt to EBITDA		 0.00 -27.67 17.97 7.40 8.99
Net Debt to EBITDA		 0.00 -26.45 17.47 7.05 8.43
Long-Term Debt to EBITDA		 0.00 -27.67 17.97 7.40 8.99
Debt to NOPAT		 0.00 -38.10 18.31 7.44 9.05
Net Debt to NOPAT		 0.00 -36.43 17.81 7.09 8.49
Long-Term Debt to NOPAT		 0.00 -38.10 18.31 7.44 9.05
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - -
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -20,253 -1,211 327 -2,475
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -54.44 -2.66 0.56 -3.46
Operating Cash Flow to Interest Expense		 0.00 -6.61 -2.99 0.88 -2.98
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -6.61 -2.99 0.88 -2.98
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 0.03 0.06 0.10 0.09
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - -
Invested Capital		 0.00 19,962 21,844 23,119 27,114
Invested Capital Turnover		 0.00 0.07 0.06 0.11 0.10
Increase / (Decrease) in Invested Capital		 0.00 19,962 1,882 1,275 3,995
Enterprise Value (EV)		 0.00 0.00 19,517 21,528 26,725
Market Capitalization		 0.00 0.00 7,565 10,174 13,826
Book Value per Share		 $0.00 $19.88 $18.80 $19.67 $20.67
Tangible Book Value per Share		 $0.00 $19.88 $18.80 $19.67 $20.67
Total Capital		 0.00 19,962 21,844 23,119 27,114
Total Debt		 0.00 11,094 12,289 11,918 13,759
Total Long-Term Debt		 0.00 11,094 12,289 11,918 13,759
Net Debt		 0.00 10,608 11,952 11,354 12,899
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 329 125 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 11,094 12,289 11,918 13,759
Total Depreciation and Amortization (D&A)		 23 15 13 8.00 10
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $1.21 $2.75 $2.44
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 498M 554M 624M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $1.19 $2.68 $2.44
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 518M 575M 624M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 531.37M 582.31M 671.48M
Normalized Net Operating Profit after Tax (NOPAT)		 791 -261 478 1,117 1,064
Normalized NOPAT Margin		 52.35% -37.25% 38.81% 47.29% 44.48%
Pre Tax Income Margin		 53.81% -59.34% 54.46% 67.82% 63.55%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 -1.12 1.47 2.75 2.13
NOPAT to Interest Expense		 0.00 -0.78 1.47 2.75 2.13
EBIT Less CapEx to Interest Expense		 0.00 -1.12 1.47 2.75 2.13
NOPAT Less CapEx to Interest Expense		 0.00 -0.78 1.47 2.75 2.13
Payout Ratios		 - - - - -
Dividend Payout Ratio		 140.29% -166.83% 135.92% 64.38% 74.93%
Augmented Payout Ratio		 160.95% -166.83% 135.92% 64.38% 74.93%

Quarterly Metrics and Ratios for Ares Capital

This table displays calculated financial ratios and metrics derived from Ares Capital's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -127.15% 0.00% -73.90% 313.91% 637.50% 76.01% 2.36% -12.48% -8.68% 17.56%
EBITDA Growth		 -64.34% 0.00% -127.63% 720.63% 369.07% 358.51% -63.33% -16.62% -21.98% 18.59%
EBIT Growth		 -65.81% 0.00% -128.04% 679.10% 384.95% 363.28% -63.62% -16.49% -21.73% 18.15%
NOPAT Growth		 -50.79% 0.00% -119.62% 927.29% 384.95% 623.51% -63.62% -16.49% -21.73% 8.40%
Net Income Growth		 -68.86% 0.00% -124.85% 559.70% 333.65% 688.21% -63.62% 5.19% -21.73% 8.40%
EPS Growth		 -71.23% 0.00% 18.60% 168.18% 314.29% 115.15% 49.02% -11.86% -28.74% -23.94%
Operating Cash Flow Growth		 0.00% 79.63% 81.29% 96.80% 130.00% 0.28% -102.41% -2,645.83% -1,232.61% 25.35%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 97.25% 0.00% 88.53% 84.44% -514.38% -863.70%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 4.85% 5.84% 10.84% 16.77% 17.62% 17.28%
Revenue Q/Q Growth		 -179.47% 532.50% -65.70% 251.12% 3.20% 41.63% -80.05% 200.22% 7.68% 82.33%
EBITDA Q/Q Growth		 253.97% 100.00% -164.95% 410.32% 16.37% 95.49% -123.14% 258.41% 8.90% 197.15%
EBIT Q/Q Growth		 238.81% 106.45% -166.15% 405.51% 16.24% 97.23% -123.36% 255.92% 8.95% 197.71%
NOPAT Q/Q Growth		 298.29% 44.09% -166.34% 536.45% 16.24% 114.97% -115.00% 322.74% 8.95% 197.71%
Net Income Q/Q Growth		 255.22% 18.27% -203.25% 342.52% 46.43% 114.97% -121.43% 255.92% 8.95% 197.71%
EPS Q/Q Growth		 -4.55% 57.14% 54.55% 15.69% 47.46% -18.39% 7.04% -31.58% 19.23% -12.90%
Operating Cash Flow Q/Q Growth		 101.33% -1,900.00% 342.22% -105.50% 195.83% -880.43% 94.15% -6,176.19% 60.47% 48.56%
Free Cash Flow Firm Q/Q Growth		 0.00% 100.00% 0.00% -0.36% 97.28% 47.69% -703.10% -36.09% -7.46% 17.95%
Invested Capital Q/Q Growth		 0.00% 2.41% -2.52% 2.60% 2.38% 3.37% 2.08% 8.09% 3.12% 3.07%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 0.00% 37.38% -70.79% 62.56% 70.54% 97.37% -112.95% 59.60% 60.27% 98.23%
EBIT Margin		 0.00% 36.99% -71.35% 62.08% 69.92% 97.37% -114.05% 59.23% 59.93% 97.86%
Profit (Net Income) Margin		 0.00% 23.70% -71.35% 49.28% 69.92% 106.13% -114.05% 59.23% 59.93% 97.86%
Tax Burden Percent		 111.83% 91.79% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.00% 69.79% 100.00% 79.38% 100.00% 108.99% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 1.46% -3.42% 6.83% 6.30% 11.15% -8.41% 5.72% 5.50% 9.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 1.37% -4.09% 5.44% 6.30% 11.15% -8.96% 5.72% 5.50% 9.32%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1.76% -4.58% 6.04% 7.29% 13.00% -9.39% 6.21% 5.84% 9.75%
Return on Equity (ROE)		 0.00% 3.21% -7.99% 12.87% 13.58% 24.15% -17.80% 11.93% 11.34% 19.07%
Cash Return on Invested Capital (CROIC)		 0.00% -5.54% 0.00% 0.00% 0.00% 1.45% -3.51% -8.98% -10.28% -9.85%
Operating Return on Assets (OROA)		 0.00% 2.11% -2.38% 3.36% 6.12% 9.95% -11.71% 5.61% 5.35% 8.99%
Return on Assets (ROA)		 0.00% 1.35% -2.38% 2.66% 6.12% 10.85% -11.71% 5.61% 5.35% 8.99%
Return on Common Equity (ROCE)		 0.00% 3.21% -7.99% 12.87% 13.58% 24.15% -17.80% 11.93% 11.34% 19.07%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.33% 3.94% 6.98% 0.00% 12.81% 12.43% 11.26% 0.00%
Net Operating Profit after Tax (NOPAT)		 93 134 -89 388 451 970 -145 324 353 1,051
NOPAT Margin		 0.00% 25.82% -49.94% 62.08% 69.92% 106.13% -79.84% 59.23% 59.93% 97.86%
Net Nonoperating Expense Percent (NNEP)		 -0.19% 0.09% 0.68% 1.39% 0.00% 0.00% 0.54% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 63.01% 171.35% 37.92% 30.08% 2.63% 214.05% 40.77% 40.07% 2.14%
Earnings before Interest and Taxes (EBIT)		 93 192 -127 388 451 890 -208 324 353 1,051
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 97 194 -126 391 455 890 -206 326 355 1,055
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.79 0.80 0.84 0.87 0.91 0.00 0.96 0.99 1.04
Price to Tangible Book Value (P/TBV)		 0.00 0.79 0.80 0.84 0.87 0.91 0.00 0.96 0.99 1.04
Price to Revenue (P/Rev)		 0.00 6.14 11.05 7.23 4.80 4.31 0.00 5.17 5.66 5.78
Price to Earnings (P/E)		 0.00 12.61 30.70 13.17 8.86 6.68 0.00 8.26 9.52 9.08
Dividend Yield		 6.72% 3.43% 3.77% 6.39% 8.67% 10.75% 10.10% 9.86% 9.59% 8.97%
Earnings Yield		 0.00% 7.93% 3.26% 7.59% 11.29% 14.96% 0.00% 12.10% 10.51% 11.01%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.89 0.89 0.90 0.91 0.93 0.00 0.95 0.97 0.99
Enterprise Value to Revenue (EV/Rev)		 0.00 15.84 25.97 16.42 10.37 9.12 0.00 10.62 11.44 11.17
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 28.53 185.39 35.49 22.32 13.38 0.00 16.59 18.71 17.47
Enterprise Value to EBIT (EV/EBIT)		 0.00 29.09 207.80 36.14 22.56 13.44 0.00 16.68 18.79 17.58
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 29.09 573.02 48.37 26.63 13.44 0.00 15.81 17.75 17.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 40.77 39.99 42.13 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 65.94 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.26 1.29 1.12 1.11 1.07 1.06 0.99 1.06 1.06 1.03
Long-Term Debt to Equity		 1.26 1.29 1.12 1.10 1.07 1.06 0.99 1.05 1.06 1.03
Financial Leverage		 1.26 1.29 1.12 1.11 1.16 1.17 1.05 1.08 1.06 1.05
Leverage Ratio		 2.34 2.35 2.17 2.15 2.22 2.23 2.10 2.13 2.12 2.12
Compound Leverage Factor		 2.34 1.64 2.17 1.70 2.22 2.43 2.10 2.13 2.12 2.12
Debt to Total Capital		 55.76% 56.26% 52.81% 52.61% 51.65% 51.55% 49.70% 51.53% 51.45% 50.75%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.40% 0.00% 0.00% 0.00% 0.60% 0.00% 0.00%
Long-Term Debt to Total Capital		 55.76% 56.26% 52.81% 52.21% 51.65% 51.55% 49.70% 50.93% 51.45% 50.75%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 44.24% 43.74% 47.19% 47.39% 48.35% 48.45% 50.30% 48.47% 48.55% 49.26%
Debt to EBITDA		 0.00 17.97 110.24 20.67 12.64 7.40 7.67 8.98 9.92 8.99
Net Debt to EBITDA		 0.00 17.47 106.54 19.86 11.98 7.05 7.29 8.51 9.46 8.43
Long-Term Debt to EBITDA		 0.00 17.97 110.24 20.51 12.64 7.40 7.67 8.87 9.92 8.99
Debt to NOPAT		 0.00 18.31 340.73 28.17 15.08 7.44 7.71 8.55 9.41 9.05
Net Debt to NOPAT		 0.00 17.81 329.30 27.06 14.29 7.09 7.33 8.11 8.97 8.49
Long-Term Debt to NOPAT		 0.00 18.31 340.73 27.96 15.08 7.44 7.71 8.46 9.41 9.05
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -21,238 0.00 -21,382 -21,459 -584 -306 -2,453 -3,339 -3,588 -2,944
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -176.98 0.00 -153.83 0.00 -4.03 -1.03 -15.43 -19.19 -18.40 -15.74
Operating Cash Flow to Interest Expense		 0.17 -1.54 6.27 0.00 0.32 -1.20 -0.13 -7.57 -2.67 -1.43
Operating Cash Flow Less CapEx to Interest Expense		 0.17 -1.54 6.27 0.00 0.32 -1.20 -0.13 -7.57 -2.67 -1.43
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.06 0.03 0.05 0.09 0.10 0.10 0.09 0.09 0.09
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 21,331 21,844 21,293 21,847 22,366 23,119 23,601 25,510 26,307 27,114
Invested Capital Turnover		 0.00 0.06 0.07 0.11 0.09 0.11 0.11 0.10 0.09 0.10
Increase / (Decrease) in Invested Capital		 21,331 0.00 21,293 21,847 1,035 1,275 2,308 3,663 3,941 3,995
Enterprise Value (EV)		 0.00 19,517 18,910 19,734 20,396 21,528 0.00 24,297 25,534 26,725
Market Capitalization		 0.00 7,565 8,043 8,694 9,450 10,174 0.00 11,832 12,624 13,826
Book Value per Share		 $18.76 $18.80 $18.91 $19.01 $19.40 $19.67 $20.09 $20.34 $20.26 $20.67
Tangible Book Value per Share		 $18.76 $18.80 $18.91 $19.01 $19.40 $19.67 $20.09 $20.34 $20.26 $20.67
Total Capital		 21,331 21,844 21,293 21,847 22,366 23,119 23,601 25,510 26,307 27,114
Total Debt		 11,895 12,289 11,244 11,493 11,551 11,918 11,729 13,146 13,534 13,759
Total Long-Term Debt		 11,895 12,289 11,244 11,406 11,551 11,918 11,729 12,993 13,534 13,759
Net Debt		 11,533 11,952 10,867 11,040 10,946 11,354 11,152 12,465 12,910 12,899
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 -11 11 38 80 0.00 0.00 62 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 11,895 12,289 11,244 11,493 11,551 11,918 11,729 13,146 13,534 13,759
Total Depreciation and Amortization (D&A)		 4.00 2.00 1.00 3.00 4.00 0.00 2.00 2.00 2.00 4.00
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.21 $0.34 $0.52 $0.61 $0.89 $0.73 $0.76 $0.52 $0.62 $0.54
Adjusted Weighted Average Basic Shares Outstanding		 503M 498M 534M 547M 562M 554M 591M 616M 635M 624M
Adjusted Diluted Earnings per Share		 $0.21 $0.33 $0.51 $0.59 $0.87 $0.71 $0.76 $0.52 $0.62 $0.54
Adjusted Weighted Average Diluted Shares Outstanding		 523M 518M 555M 567M 582M 575M 591M 616M 635M 624M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 508.26M 531.37M 544.58M 557.38M 569.44M 582.31M 607.76M 630.39M 646.08M 671.48M
Normalized Net Operating Profit after Tax (NOPAT)		 65 94 -89 272 297 679 -136 227 259 736
Normalized NOPAT Margin		 0.00% 18.07% -49.94% 43.46% 46.02% 74.29% -74.46% 41.46% 43.97% 68.50%
Pre Tax Income Margin		 0.00% 25.82% -71.35% 49.28% 69.92% 106.13% -114.05% 59.23% 59.93% 97.86%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.78 0.82 -0.91 0.00 3.11 2.98 -1.31 1.86 1.81 5.62
NOPAT to Interest Expense		 0.78 0.57 -0.64 0.00 3.11 3.25 -0.91 1.86 1.81 5.62
EBIT Less CapEx to Interest Expense		 0.78 0.82 -0.91 0.00 3.11 2.98 -1.31 1.86 1.81 5.62
NOPAT Less CapEx to Interest Expense		 0.78 0.57 -0.64 0.00 3.11 3.25 -0.91 1.86 1.81 5.62
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 135.92% 2,924.24% 243.87% 134.44% 64.38% 68.39% 69.37% 76.39% 74.93%
Augmented Payout Ratio		 0.00% 135.92% 2,924.24% 243.87% 134.44% 64.38% 68.39% 69.37% 76.39% 74.93%

Frequently Asked Questions About Ares Capital's Financials

When does Ares Capital's financial year end?

According to the most recent income statement we have on file, Ares Capital's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ares Capital's net income changed over the last 4 years?

Ares Capital's net income appears to be on an upward trend, with a most recent value of $1.52 billion in 2024, rising from $484 million in 2020. The previous period was $1.60 billion in 2023.

How has Ares Capital revenue changed over the last 4 years?

Over the last 4 years, Ares Capital's total revenue changed from $1.51 billion in 2020 to $2.39 billion in 2024, a change of 58.3%.

How much debt does Ares Capital have?

Ares Capital's total liabilities were at $14.90 billion at the end of 2024, a 18.3% increase from 2023, and a 24.4% increase since 2021.

How much cash does Ares Capital have?

In the past 3 years, Ares Capital's cash and equivalents has ranged from $303 million in 2022 to $635 million in 2024, and is currently $635 million as of their latest financial filing in 2024.

How has Ares Capital's book value per share changed over the last 4 years?

Over the last 4 years, Ares Capital's book value per share changed from 0.00 in 2020 to 20.67 in 2024, a change of 2,067.1%.

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This page (NASDAQ:ARCC) was last updated on 4/16/2025 by MarketBeat.com Staff
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