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ARES CAPITAL CORP ARCC

Nasdaq · stock · website · IPO 2012-10-08 · LEI

ARES CAPITAL CORP statistics & valuation

Market cap$13.1B
P / E10.1×
P / B0.9×
Dividend yield9.68%
Return on equity9.1%
Net debt$15.4B
Enterprise value USD$28.4B
Graham number +45.4%$28.89

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($28.89); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
20212022202320242025
Operating margin (%)
20212022202320242025
Return on equity (%)
17.70% 6.30% 13.60% 11.40% 9.10% 20212022202320242025
Shares outstanding
468.0M 519.0M 582.0M 672.0M 718.0M 20212022202320242025
Net debt ($)
$10.65B $11.91B $11.35B $13.09B $15.35B 20212022202320242025
Share buybacks ($)
20212022202320242025
Return on assets (%)
7.50% 2.70% 6.40% 5.40% 4.20% 20212022202320242025
Free cash flow margin (%)
20212022202320242025
Debt / equity (×)
1.24× 1.28× 1.06× 1.03× 1.12× 20212022202320242025
EPS ($)
$3.51 $1.19 $2.68 $2.44 $1.86 20212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ARES CAPITAL CORP trades at about 10.7× earnings — above its 10-year norm (10-year range 6.3×–16.3×, median 9.7×).

6.3× 16.3×

Shaded band = 10-year range (6.3×–16.3×); dot = today's 10.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021
Return on assets4.2%5.4%6.4%2.7%7.5%
Return on equity9.1%11.4%13.6%6.3%17.7%
Debt / equity1.12×1.03×1.06×1.28×1.24×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.