Financial health
- Total debt ($16.0B) exceeds cash ($638M); net debt is $15.4B.
Shareholder returns
- Dividends have been paid for 6 consecutive years, consuming 97.3% of earnings.
- The dividend has grown 13.2% per year over the past 5 years.
ARCC Financials Ares Capital Corp
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | — | $1.3B | — | — | — | $16.0B | $638M |
| 2024 | — | $1.5B | — | — | — | $13.7B | $635M |
| 2023 | — | $1.5B | — | — | — | $11.9B | $535M |
| 2022 | — | $600M | — | — | — | $12.2B | $303M |
| 2021 | — | $1.6B | — | — | — | $11.0B | $372M |
| 2020 | — | $484M | — | — | — | — | — |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | — | $92M | — | — | — | $15.8B | $505M |
| Dec '25 | — | $293M | — | — | — | $16.0B | $638M |
| Sep '25 | — | $404M | — | — | — | $15.6B | $1.0B |
| Jun '25 | — | $361M | — | — | — | $14.1B | $447M |
| Mar '25 | — | $241M | — | — | — | $13.9B | $647M |
| Dec '24 | — | $357M | — | — | — | $13.7B | $635M |
| Sep '24 | — | $394M | — | — | — | $13.5B | $486M |
| Jun '24 | — | $322M | — | — | — | $13.0B | $601M |
| Mar '24 | — | $449M | — | — | — | $11.7B | $509M |
| Dec '23 | — | $413M | — | — | — | $11.9B | $535M |
| Sep '23 | — | $500M | — | — | — | $11.5B | $527M |
| Jun '23 | — | $331M | — | — | — | $11.4B | $411M |
| Mar '23 | — | $278M | — | — | — | $11.2B | $359M |
| Dec '22 | — | $174M | — | — | — | $12.2B | $303M |
| Sep '22 | — | $104M | — | — | — | $11.8B | $257M |
| Jun '22 | — | $111M | — | — | — | — | — |
| Mar '22 | — | $211M | — | — | — | — | — |
| Dec '21 | — | $382M | — | — | — | $11.0B | $372M |
| Sep '21 | — | $334M | — | — | — | — | — |
Valuation over time
How the market has priced ARCC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 21.9× (Mar '23) to 9.9× (Jun '26).
- The dividend yield has risen from 7.0% (Mar '23) to 9.8% (Jun '26).
P/E
Dividend yield %
Frequently asked questions
Is ARCC growing its revenue and profit?
See the revenue and net-income charts above for Ares Capital Corp's multi-year trend.
How much debt does ARCC have?
As of FY2025, Ares Capital Corp reported $16.0B of total debt against $638M of cash.
What is ARCC's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is ARCC's P/E ratio?
As of Jun '26, Ares Capital Corp traded at a price-to-earnings ratio of about 9.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.