Ares Capital Corp - Understand $arcc stock

$ARCC Market Cap: $13.92 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$2.180B

TTM

Gross Margin

76.53%

TTM

Net Earnings

$1.578B

TTM

Current Assets

$868.0M

Q3 2024

Current Liabilities

$793.0M

Q3 2024

Current Ratio

109.46%

Q3 2024

Total Assets

$27.10B

Q3 2024

Total Liabilities

$14.33B

Q3 2024

Book Value

$12.77B

Q3 2024

Cash

$486.0M

Q3 2024

P/E

8.819

Nov 13, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Revenue	$1.286B	$1.147B	$1.820B	$1.511B	$1.528B	$1.337B	$1.160B	$1.012B	$1.025B	$989.0M	$881.7M	$748.0M	$634.5M	$483.4M	$245.3M	$240.5M	$188.9M	$120.0M	$41.80M	$4.400M
YoY Change	12.12%	-36.98%	20.45%	-1.11%	14.29%	15.26%	14.62%	-1.31%	3.68%	12.17%	17.87%	17.89%	31.26%	97.06%	2.0%	27.32%	57.42%	187.08%	850.0%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Revenue	$1.286B	$1.147B	$1.820B	$1.511B	$1.528B	$1.337B	$1.160B	$1.012B	$1.025B	$989.0M	$881.7M	$748.0M	$634.5M	$483.4M	$245.3M	$240.5M	$188.9M	$120.0M	$41.80M	$4.400M
Cost Of Revenue	$1.286B	$911.0M	$1.011B	$660.0M	$686.0M	$622.0M	$571.0M	$441.0M	$456.0M	$491.8M	$398.5M	$356.2M	$306.5M	$208.2M	$88.00M	$98.70M	$83.90M	$51.70M	$10.90M	$900.0K
Gross Profit	$1.328B	$1.185B	$809.0M	$851.0M	$842.0M	$715.0M	$589.0M	$571.0M	$569.4M	$497.2M	$483.2M	$391.8M	$328.0M	$275.2M	$157.3M	$141.7M	$104.9M	$68.30M	$31.00M	$3.500M
Gross Profit Margin	103.27%	103.31%	44.45%	56.32%	55.1%	53.48%	50.78%	56.42%	55.53%	50.27%	54.8%	52.38%	51.69%	56.93%	64.13%	58.92%	55.53%	56.92%	74.16%	79.55%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Selling, General & Admin	$42.00M	$38.00M	$39.00M	$38.00M	$45.00M	$42.00M	$89.00M	$56.00M	$43.90M	$41.10M	$38.70M	$31.70M	$38.10M	$53.90M	$18.60M	$10.30M	$7.300M	$5.100M	$3.200M	$800.0K
YoY Change	10.53%	-2.56%	2.63%	-15.56%	7.14%	-52.81%	58.93%	27.56%	6.81%	6.2%	22.08%	-16.8%	-29.31%	189.78%	80.58%	41.1%	43.14%	59.38%	300.0%
% of Gross Profit	3.16%	3.21%	4.82%	4.47%	5.34%	5.87%	15.11%	9.81%	7.71%	8.27%	8.01%	8.09%	11.62%	19.59%	11.82%	7.27%	6.96%	7.47%	10.32%	22.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization							$1.000M	$1.000M	$700.0K	$800.0K	$800.0K	$800.0K	$900.0K	$900.0K	$700.0K	$500.0K	$400.0K	$300.0K	$0.00	$0.00
YoY Change							0.0%	42.86%	-12.5%	0.0%	0.0%	-11.11%	0.0%	28.57%	40.0%	25.0%	33.33%
% of Gross Profit							0.17%	0.18%	0.12%	0.16%	0.17%	0.2%	0.27%	0.33%	0.45%	0.35%	0.38%	0.44%	0.0%	0.0%
Operating Expenses	$42.00M	$38.00M	$39.00M	$38.00M	$15.00M	$2.000M	$59.00M	$56.00M	$43.80M	$41.00M	$38.70M	$31.80M	$38.10M	$54.00M	$23.20M	$14.50M	$10.90M	$6.800M	$3.500M	$800.0K
YoY Change	10.53%	-2.56%	2.63%	153.33%	650.0%	-96.61%	5.36%	27.85%	6.83%	5.94%	21.7%	-16.54%	-29.44%	132.76%	60.0%	33.03%	60.29%	94.29%	337.5%
Operating Profit	$1.286B	$1.147B	$770.0M	$813.0M	$827.0M	$713.0M	$530.0M	$515.0M	$525.6M	$456.2M	$444.5M	$360.0M	$289.9M	$221.2M	$134.1M	$127.2M	$94.00M	$61.50M	$27.50M	$2.700M
YoY Change	12.12%	48.96%	-5.29%	-1.69%	15.99%	34.53%	2.91%	-2.02%	15.21%	2.63%	23.47%	24.18%	31.06%	64.95%	5.42%	35.32%	52.85%	123.64%	918.52%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Interest Expense	$582.0M	$455.0M	$869.0M	-$310.0M	-$18.00M	$164.0M	$160.0M	-$20.00M	-$118.7M	$153.2M	$58.10M	$162.0M	$56.40M	$276.2M	$42.70M	-$266.4M	-$4.100M	$13.10M	$14.50M	$500.0K
YoY Change	27.91%	-47.64%	-380.32%	1622.22%	-110.98%	2.5%	-900.0%	-83.15%	-177.48%	163.68%	-64.14%	187.23%	-79.58%	546.84%	-116.03%	6397.56%	-131.3%	-9.66%	2800.0%
% of Operating Profit	45.26%	39.67%	112.86%	-38.13%	-2.18%	23.0%	30.19%	-3.88%	-22.58%	33.58%	13.07%	45.0%	19.45%	124.86%	31.84%	-209.43%	-4.36%	21.3%	52.73%	18.52%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Pretax Income	$1.542B	$655.0M	$1.596B	$503.0M	$809.0M	$877.0M	$686.0M	$495.0M	$396.4M	$609.3M	$502.6M	$519.4M	$326.9M	$697.2M	$203.3M	-$139.2M	$90.00M	$74.60M	$42.00M	$3.200M
YoY Change	135.42%	-58.96%	217.3%	-37.82%	-7.75%	27.84%	38.59%	24.87%	-34.94%	21.23%	-3.23%	58.89%	-53.11%	242.94%	-246.05%	-254.67%	20.64%	77.62%	1212.5%
Income Tax	$20.00M	$55.00M	$29.00M	$19.00M	$16.00M	$19.00M	$19.00M	$21.00M	$17.80M	$18.30M	$14.10M	$11.20M	$7.500M	$5.400M	$600.0K	$200.0K	-$800.0K	$4.900M	$200.0K	$0.00
% Of Pretax Income	1.3%	8.4%	1.82%	3.78%	1.98%	2.17%	2.77%	4.24%	4.49%	3.0%	2.81%	2.16%	2.29%	0.77%	0.3%		-0.89%	6.57%	0.48%	0.0%
Net Earnings	$1.522B	$600.0M	$1.567B	$484.0M	$793.0M	$858.0M	$667.0M	$474.0M	$378.7M	$590.9M	$488.5M	$508.2M	$319.5M	$691.8M	$202.7M	-$139.5M	$90.80M	$69.70M	$41.90M	$3.200M
YoY Change	153.67%	-61.71%	223.76%	-38.97%	-7.58%	28.64%	40.72%	25.17%	-35.91%	20.96%	-3.88%	59.06%	-53.82%	241.29%	-245.3%	-253.63%	30.27%	66.35%	1209.38%
Net Earnings / Revenue	118.35%	52.31%	86.1%	32.03%	51.9%	64.17%	57.5%	46.84%	36.93%	59.75%	55.4%	67.94%	50.35%	143.11%	82.63%	-58.0%	48.07%	58.08%	100.24%	72.73%
Basic Earnings Per Share	$2.75	$1.21	$3.51	$1.14
Diluted Earnings Per Share	$2.68	$1.19	$3.513M	$1.142M	$1.857M	$2.014M	$1.569M	$1.510M	$1.205M	$1.935M	$1.830M	$2.208M	$1.559M	$3.915M	$1.993M	-$1.555M	$1.341M	$1.584M	$1.783M	$288.3K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Cash & Short-Term Investments	$535.0M	$303.0M	$372.0M	$254.0M	$176.0M	$296.0M	$316.0M	$223.0M	$257.0M	$195.0M	$150.0M	$269.0M	$121.0M	$101.0M	$99.00M	$89.00M	$21.00M	$92.00M	$17.00M	$27.00M
YoY Change	76.57%	-18.55%	46.46%	44.32%	-40.54%	-6.33%	41.7%	-13.23%	31.79%	30.0%	-44.24%	122.31%	19.8%	2.02%	11.24%	323.81%	-77.17%	441.18%	-37.04%
Cash & Equivalents	$535.0M	$303.0M	$372.0M	$254.0M	$176.0M	$296.0M	$316.0M	$223.0M	$257.0M	$195.0M	$150.0M	$269.0M	$121.0M	$101.0M	$99.00M	$89.00M	$21.00M	$92.00M	$17.00M	$27.00M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$261.0M	$180.0M	$222.0M	$223.0M	$131.0M	$103.0M	$94.00M	$141.0M	$138.0M	$162.0M	$253.0M	$109.0M	$100.0M	$81.00M	$28.00M	$18.00M	$25.00M	$11.00M	$7.000M	$10.00M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$796.0M	$483.0M	$594.0M	$477.0M	$307.0M	$399.0M	$410.0M	$364.0M	$395.0M	$357.0M	$403.0M	$378.0M	$221.0M	$182.0M	$127.0M	$107.0M	$46.00M	$103.0M	$24.00M	$37.00M
YoY Change	64.8%	-18.69%	24.53%	55.37%	-23.06%	-2.68%	12.64%	-7.85%	10.64%	-11.41%	6.61%	71.04%	21.43%	43.31%	18.69%	132.61%	-55.34%	329.17%	-35.14%
Property, Plant & Equipment	$10.00M	$20.00M	$27.00M	$38.00M	$94.00M
YoY Change	-50.0%	-25.93%	-28.95%	-59.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$22.87B	$21.78B	$20.01B	$15.52B	$14.43B	$12.42B	$11.84B	$8.820B	$9.055B	$9.028B	$7.633B	$5.925B	$5.095B	$4.318B	$2.172B	$1.973B	$1.774B	$1.236B	$586.0M	$183.0M
YoY Change	5.02%	8.85%	28.97%	7.55%	16.18%	4.86%	34.25%	-2.6%	0.3%	18.28%	28.83%	16.29%	17.99%	98.8%	10.09%	11.22%	43.53%	110.92%	220.22%
Other Assets	$29.00M	$34.00M	$114.0M	$72.00M
YoY Change	-14.71%	-70.18%	58.33%
Total Long-Term Assets	$23.00B	$21.92B	$20.25B	$15.72B	$14.60B	$12.50B	$11.94B	$8.881B	$9.112B	$9.141B	$7.739B	$6.023B	$5.166B	$4.381B	$2.187B	$1.984B	$1.783B	$1.245B	$590.0M	$183.0M
YoY Change	4.97%	8.23%	28.82%	7.68%	16.82%	4.68%	34.41%	-2.54%	-0.32%	18.12%	28.49%	16.59%	17.92%	100.32%	10.23%	11.27%	43.21%	111.02%	222.4%
Total Assets	$23.80B	$22.40B	$20.84B	$16.20B	$14.91B	$12.90B	$12.35B	$9.245B	$9.507B	$9.498B	$8.142B	$6.401B	$5.387B	$4.563B	$2.314B	$2.091B	$1.829B	$1.348B	$614.0M	$220.0M
YoY Change
Accounts Payable	$664.0M	$523.0M	$838.0M	$470.0M	$344.0M	$381.0M	$392.0M	$206.0M	$220.0M	$290.0M	$251.0M	$217.0M	$167.0M	$134.0M	$86.00M	$47.00M	$23.00M	$77.00M	$11.00M	$2.000M
YoY Change	26.96%	-37.59%	78.3%	36.63%	-9.71%	-2.81%	90.29%	-6.36%	-24.14%	15.54%	15.67%	29.94%	24.63%	55.81%	82.98%	104.35%	-70.13%	600.0%	450.0%
Accrued Expenses	$17.00M	$31.00M	$43.00M	$59.00M	$121.0M
YoY Change	-45.16%	-27.91%	-27.12%	-51.24%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.196B	$2.074B	$1.379B	$969.0M	$909.0M	$682.0M	$482.0M	$18.00M	$56.00M
YoY Change											-100.0%	5.88%	50.4%	42.31%	6.6%	33.28%	41.49%	2577.78%	-67.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$681.0M	$554.0M	$881.0M	$529.0M	$465.0M	$381.0M	$392.0M	$206.0M	$220.0M	$290.0M	$251.0M	$2.413B	$2.241B	$1.513B	$1.055B	$997.0M	$705.0M	$559.0M	$44.00M	$61.00M
YoY Change	22.92%	-37.12%	66.54%	13.76%	22.05%	-2.81%	90.29%	-6.36%	-24.14%	15.54%	-89.6%	7.68%	48.12%	43.41%	5.82%	41.42%	26.12%	1170.45%	-27.87%
Long-Term Debt	$11.92B	$12.29B	$11.09B	$8.491B	$6.971B	$5.214B	$4.854B	$3.874B	$4.114B	$3.924B	$2.986B	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-3.02%	10.77%	30.66%	21.8%	33.7%	7.42%	25.3%	-5.83%	4.84%	31.41%
Other Long-Term Liabilities					$2.000M	$0.00	$3.000M
YoY Change						-100.0%
Total Long-Term Liabilities	$11.92B	$12.29B	$11.09B	$8.491B	$6.973B	$5.214B	$4.857B	$3.874B	$4.114B	$3.924B	$2.986B	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-3.02%	10.77%	30.66%	21.77%	33.74%	7.35%	25.37%	-5.83%	4.84%	31.41%
Total Liabilities	$12.60B	$12.84B	$11.98B	$9.020B	$7.438B	$5.595B	$5.249B	$4.080B	$4.333B	$4.214B	$3.237B	$2.413B	$2.240B	$1.512B	$1.056B	$996.0M	$705.0M	$559.0M	$44.00M	$61.00M
YoY Change	-1.9%	7.25%	32.76%	21.27%	32.94%	6.59%	28.65%	-5.84%	2.82%	30.18%	34.15%	7.72%	48.15%	43.18%	6.02%	41.28%	26.12%	1170.45%	-27.87%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020
Basic Shares Outstanding	554.0M shares	498.0M shares	446.0M shares	424.0M shares
Diluted Shares Outstanding	575.0M shares	518.0M shares	446.0M shares	424.0M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $13.916 Billion

About Ares Capital Corp

Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. The company is headquartered in New York City, New York and currently employs 2,800 full-time employees. The company went IPO on 2012-10-08. The firm invests primarily in first lien senior secured loans (including unitranche loans, which are loans that combine both senior and subordinated debt, generally in a first lien position), and second lien senior secured loans. In addition to senior secured loans, it also invests in subordinated debt, which in some cases includes an equity component, and preferred equity. The company also may invest up to 30% of its portfolio in non-qualifying assets. Its investment activities are focused on industries, such as software and services, health care services, commercial and professional services, financial services, commercial and professional services, insurance Services, energy, food and beverage and others. Its investment adviser is Ares Capital Management LLC.

Industry: UNKNOWN Peers: Blue Owl Capital Inc Invesco Ltd Ares Management Corp Blackstone Inc Carlyle Group Inc Franklin Resources Inc Northern Trust Corp SEI Investments Co State Street Corp TPG Inc