ARCC financial statements
The full income statement, balance sheet, and cash-flow statement for Ares Capital Corporation (ARCC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Interest expense | 793M+10.9% | 715M+22.9% | 582M+27.9% | 455M+22.3% | 372M+17.4% | |
| Net income | 1.30B-14.7% | 1.52B+0.0% | 1.52B+153.7% | 600M-61.7% | 1.57B+223.8% | |
| $1.86-23.8% | $2.44-9.0% | $2.68+125.2% | $1.19-66.1% | $3.51+207.9% | ||
| EPS (basic) | $1.86-23.8% | $2.44-11.3% | $2.75+127.3% | $1.21-65.5% | $3.51+207.9% | |
| Weighted-avg shares (basic) | 699M+12.0% | 624M+12.6% | 554M+11.2% | 498M+11.7% | 446M+5.2% | |
| Weighted-avg shares (diluted) | 699M+12.0% | 624M+8.5% | 575M+11.0% | 518M+16.1% | 446M+5.2% | |
| Dividends per share | $1.92+0.0% | $1.92+0.0% | $1.92+2.7% | $1.87+15.4% | $1.62+1.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 638M+0.5% | 635M+18.7% | 535M+76.6% | 303M-18.5% | 372M+14.1% | |
| 31.2B+10.6% | 28.3B+18.7% | 23.8B+6.3% | 22.4B+7.5% | 20.8B | ||
| Operating lease right-of-use | — | — | 10.0M-50.0% | 20.0M-25.9% | 27.0M | |
| 16.9B+13.5% | 14.9B+18.3% | 12.6B-1.9% | 12.8B+7.2% | 12.0B | ||
| Long-term debt | 16.0B+16.5% | 13.7B+15.5% | 11.9B-2.7% | 12.2B+10.8% | 11.0B | |
| Operating lease liability (total) | — | — | 17.0M-45.2% | 31.0M-27.9% | 43.0M | |
| Deferred tax liabilities | 28.0M-69.6% | 92.0M | — | — | — | |
| 14.3B+7.2% | 13.4B+19.2% | 11.2B+17.2% | 9.55B+7.7% | 8.87B+23.6% | ||
| Common stock | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | 1.00M | 0.00 | |
| Additional paid-in capital | 13.4B+6.9% | 12.5B+16.4% | 10.7B+12.4% | 9.56B+11.7% | 8.55B | |
| Retained earnings | 958M+12.4% | 852M+84.4% | 462M+23200.0% | -2.00M | — | |
| Total liabilities & equity | 31.2B+10.6% | 28.3B+18.7% | 23.8B+6.3% | 22.4B+7.5% | 20.8B | |
| Common shares issued | 718M+6.8% | 672M+15.5% | 582M+12.1% | 519M+10.9% | 468M | |
| Common shares outstanding | 718M+6.8% | 672M+15.5% | 582M+12.1% | 519M+10.9% | 468M+10.6% | |
| Shares outstanding (cover) | 718M+6.9% | 671M+15.3% | 582M+9.6% | 531M | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash from operations | -1.72B+19.3% | -2.13B-516.4% | 511M+137.6% | -1.36B+44.7% | -2.46B-324.0% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 1.78B-26.5% | 2.42B+953.5% | -284M-123.5% | 1.21B-53.8% | 2.62B+258.8% | ||
| Long-term debt issued | 12.5B-5.3% | 13.2B+153.8% | 5.21B-34.4% | 7.95B-58.9% | 19.3B+134.2% | |
| Long-term debt repaid | 0.00 | 0.00-100.0% | 5.56B-18.5% | 6.82B-59.5% | 16.8B+149.8% | |
| Common stock issued | 928M-32.0% | 1.36B+18.1% | 1.16B+15.4% | 1.00B+22.2% | 819M+20375.0% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Dividends paid | 1.26B+11.0% | 1.14B+10.5% | 1.03B+13.0% | 912M+31.4% | 694M+2.2% | |
| Net change in cash | 64.0M-78.4% | 296M+30.4% | 227M+252.3% | -149M-193.1% | 160M+6.7% | |
| Interest paid | 750M+10.9% | 676M+29.0% | 524M+30.3% | 402M+29.7% | 310M+27.6% | |
| Income taxes paid | 163M+147.0% | 66.0M+83.3% | 36.0M-7.7% | 39.0M+50.0% | 26.0M+62.5% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 14.5B-1.2% | 14.7B+28.9% | 11.4B+21.5% | 9.39B-5.3% | 9.92B+38.8% | |
| P/E | 11.2×+15.8% | 9.7×+8.6% | 8.9×-23.5% | 11.6×+83.6% | 6.3×-57.1% | |
| P/B | 1.0×-7.8% | 1.1×+4.4% | 1.1×+6.0% | 1.0×-11.0% | 1.1×+12.3% | |
| Earnings yield | 8.9%-13.6% | 10.4%-7.9% | 11.2%+30.7% | 8.6%-45.5% | 15.8%+133.2% | |
| Dividend yield | 9.5%+8.2% | 8.8%-8.5% | 9.6%-5.3% | 10.1%+32.4% | 7.6%-19.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: ARCC’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ARCC filings on SEC EDGAR → Not investment advice.