Ares Capital Past Earnings Performance
Past criteria checks 5/6
Ares Capital has been growing earnings at an average annual rate of 19.9%, while the Capital Markets industry saw earnings growing at 7.1% annually. Revenues have been growing at an average rate of 15.5% per year. Ares Capital's return on equity is 12.4%, and it has net margins of 53.7%.
Key information
19.9%
Earnings growth rate
12.6%
EPS growth rate
| Capital Markets Industry Growth | 10.3% |
| Revenue growth rate | 15.5% |
| Return on equity | 12.4% |
| Net Margin | 53.7% |
| Last Earnings Update | 30 Sep 2024 |
Recent past performance updates
Recent updates
Ares Capital: Bullish Due To Higher Deal Activity
Dec 25Ares Capital: BDC Market Leader That You Shouldn't Miss Buying
Nov 27Ares Capital: A Magnificent 9% Yielding Cash Cow
Nov 20Ares Capital: A Strong Q3 With Income Peak Likely Behind Us
Nov 12Ares Capital: One Of The Safest High-Yielders Your Money Can Buy (Rating Upgrade)
Nov 04Ares Capital: 8.9% Yield Standout Among BDC Peers
Oct 29Ares Capital: Still Cheap Even As The Fed Shifts Down
Oct 19The Battle Of Two Goliaths: Ares Capital Vs. FS KKR, Update
Sep 30I Made Ares Capital One Of My Top BDC Positions
Sep 20Ares Capital: Reduced Portfolio Risk At This 9%+ Yielder
Sep 06Ares Capital: Why Investors Should Be Wary Of Rising Recession Risks
Aug 20My Favorite Recession BDC: Ares Capital
Aug 12Ares Capital: The Pros And Cons After Q2 FY24 Results (Rating Upgrade)
Aug 06Ares Capital Q2 Earnings: Buy, Sell, Or Hold?
Jul 31Ares Capital: One Of The Best Buys In The BDC Sector
Jul 21Ares Capital: Keep Riding On Your Winning BDC Bets
Jun 30Ares Capital: Another Strong Quarter Despite A Decline In Net Income
Jun 05Ares Capital: Strong Performance And Low Leverage Signal Higher Dividends
May 24Ares Capital: Building A Big-Yield Portfolio (BDCs, CEFs, REITs)
May 10Ares Capital: A 9.2% Yielding BDC Cash Cow
May 03Ares Capital: High Quality But Awaiting Better Entry (Downgrade)
Apr 26Ares Capital: Attractive For Income Investors Yielding 9.6% Heading Into A Lower Rate Environment
Mar 25Ares Capital's NAV, Valuation, And Dividend Versus 14 BDC Peers - Part 1 (Includes Recommendations As Of 3/8/2024)
Mar 13Looking At Ares Capital's Financials Under Lower Interest Rates
Feb 20Ares Capital: The Only 10% Yielding BDC You Need
Feb 12Ares Capital: Dividend Looks Secure
Jan 30Better Buy: Ares Capital Or Oaktree Specialty Lending? - Big Yields +10%
Oct 17Ares Capital: A More Aggressive Fed Is Good For Its Earnings
Oct 07Where Prospect Capital Clearly Beats Ares Capital
Sep 28Better Buy: Ares Capital's 9.3% Yield Or FS KKR's 12.6%
Sep 16Why We Own Ares Capital Instead Of Owl Rock Capital
Sep 07Better Buy: Ares Capital's 8.8% Yield Or SLR Investment's 11%
Aug 24More Attractive After Quarterly Results: Ares Capital Or Oaktree Specialty Lending?
Aug 09Ares Capital Is Sliding And I Am Buying This 8% Yielding BDC
Aug 01Ares Capital Non-GAAP EPS of $0.46 beats by $0.02, TII of $479M beats by $12.79M
Jul 26Better 9%+ Yield Buy: Owl Rock Vs. Ares Capital
Jul 15Load Up The Truck With 9.3% Yielding Ares Capital
Jun 28Ares Capital: 10% Yield, Benefits From Rising Rates, Analyst Upgrades, 5% Discount
Jun 17Ares Capital Stock: 2 Reasons A Dividend Cut Could Be Coming
Jun 02Ares Capital Stock: Our Top Pick For The Rising Interest Rate Environment
May 12Ares Capital: Bag This 8% Yield And Call It A Day
Apr 28Ares Capital's NAV, Dividend, And Valuation Versus 15 BDC Peers - Part 2 (Includes Q2 + Q3 2022 Dividend Projection)
Mar 28Ares Capital Stock: 3 Reasons Why Dividend Growth Is Set To Continue
Mar 11Ares Capital Corp: The BDC King Retains Its Crown
Feb 20Ares Capital: Best-Of-Breed BDC's 7.4% Yield Is A Buy
Feb 08Ares Capital Yielding 7.7% Hits It Out Of The Park
Jan 23Ares Capital: Dividend Strategy To Help Prepare For The New Market Realities
Jan 14Ares Capital's NAV, Dividend, And Valuation Vs. 14 BDC Peers - Part 2 (Includes Q1 + Q2 2022 Dividend Projection)
Dec 16Ares Capital's NAV, Dividend, And Valuation Vs. 14 BDC Peers - Part 1 (Post Q3 2021 Earnings)
Dec 08Ares Capital: A Smart, Safe, Growing 8% Yielder You Can Count On
Nov 29Ares Capital: 7.6% Yield, Outperforming The Market
Oct 29Ares Capital: Book Value Premium And Growing Credit Risks Exacerbate Downside Risk
Oct 21Why Buy A CD When I Can Buy Ares Capital?
Oct 15Ares Capital's NAV, Dividend, And Valuation Vs. 14 BDC Peers - Part 2 (Includes Q4 2021 Dividend Projection)
Sep 17Ares Capital's NAV, Dividend And Valuation Vs. 14 BDC Peers - Part 1 (Post Q2 2021 Earnings)
Sep 10Ares Capital: 8.2% Yield, Have Your Cake And Eat It Too
Sep 01Ares Capital Scores Big, Again, But ...
Aug 23Ares Capital: A Monster Dividend With Plenty Of Potential
Jul 29Invest In The American Dream With This Blue-Chip BDC: Ares Capital - Yield 8.1%
Jul 06Ares Capital: Despite The Risks, This 8.0% Yield BDC Is Compelling
Jun 14Ares Capital Q1 2021 Earnings Preview
Apr 27Ares Capital's NAV, Dividend, And Valuation Vs. 14 BDC Peers - Part 2 (Includes Q1 2021 Dividend Projection)
Jan 10Ares Capital prices $650M debt offering
Jan 07Ares Capital's NAV, Dividend And Valuation Vs. 14 BDC Peers (Post Q3 2020 Earnings - Remains Attractively Valued)
Dec 29Ares Capital: An Excellent Portfolio Income Booster With 9.4% Yield
Dec 14Ares Capital (ARCC) Investor Presentation - Slideshow
Nov 19Revenue & Expenses Breakdown
How Ares Capital makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Sep 24 | 2,938 | 1,578 | 795 | 0 |
| 30 Jun 24 | 2,818 | 1,684 | 806 | 0 |
| 31 Mar 24 | 2,697 | 1,693 | 797 | 0 |
| 31 Dec 23 | 2,614 | 1,522 | 746 | 0 |
| 30 Sep 23 | 2,547 | 1,283 | 682 | 0 |
| 30 Jun 23 | 2,429 | 887 | 579 | 0 |
| 31 Mar 23 | 2,274 | 667 | 517 | 0 |
| 31 Dec 22 | 2,096 | 600 | 494 | 0 |
| 30 Sep 22 | 1,985 | 808 | 536 | 0 |
| 30 Jun 22 | 1,890 | 1,038 | 580 | 0 |
| 31 Mar 22 | 1,870 | 1,405 | 659 | 0 |
| 31 Dec 21 | 1,820 | 1,567 | 678 | 0 |
| 30 Sep 21 | 1,731 | 1,563 | 626 | 0 |
| 30 Jun 21 | 1,641 | 1,670 | 572 | 0 |
| 31 Mar 21 | 1,532 | 1,469 | 486 | 0 |
| 31 Dec 20 | 1,511 | 484 | 381 | 0 |
| 30 Sep 20 | 1,457 | 310 | 373 | 0 |
| 30 Jun 20 | 1,492 | 44 | 362 | 0 |
| 31 Mar 20 | 1,524 | -33 | 359 | 0 |
| 31 Dec 19 | 1,528 | 793 | 410 | 0 |
| 30 Sep 19 | 1,487 | 742 | 376 | 0 |
| 30 Jun 19 | 1,442 | 776 | 374 | 0 |
| 31 Mar 19 | 1,393 | 830 | 377 | 0 |
| 31 Dec 18 | 1,337 | 858 | 384 | 0 |
| 30 Sep 18 | 1,299 | 937 | 404 | 0 |
| 30 Jun 18 | 1,251 | 867 | 388 | 0 |
| 31 Mar 18 | 1,202 | 791 | 370 | 0 |
| 31 Dec 17 | 1,160 | 667 | 405 | 0 |
| 30 Sep 17 | 1,113 | 510 | 323 | 0 |
| 30 Jun 17 | 1,078 | 481 | 318 | 0 |
| 31 Mar 17 | 1,039 | 460 | 315 | 0 |
| 31 Dec 16 | 1,012 | 474 | 296 | 0 |
| 30 Sep 16 | 1,013 | 414 | 281 | 0 |
| 30 Jun 16 | 1,015 | 421 | 283 | 0 |
| 31 Mar 16 | 1,020 | 410 | 282 | 0 |
| 31 Dec 15 | 1,025 | 379 | 272 | 0 |
| 30 Sep 15 | 1,035 | 517 | 308 | 0 |
| 30 Jun 15 | 1,027 | 578 | 322 | 0 |
| 31 Mar 15 | 1,002 | 575 | 317 | 0 |
| 31 Dec 14 | 989 | 591 | 317 | 0 |
| 30 Sep 14 | 952 | 571 | 305 | 0 |
| 30 Jun 14 | 945 | 535 | 291 | 0 |
| 31 Mar 14 | 926 | 525 | 282 | 0 |
Quality Earnings: ARCC has high quality earnings.
Growing Profit Margin: ARCC's current net profit margins (53.7%) are higher than last year (50.4%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: ARCC's earnings have grown by 19.9% per year over the past 5 years.
Accelerating Growth: ARCC's earnings growth over the past year (23%) exceeds its 5-year average (19.9% per year).
Earnings vs Industry: ARCC earnings growth over the past year (23%) exceeded the Capital Markets industry 12.8%.
Return on Equity
High ROE: ARCC's Return on Equity (12.4%) is considered low.
Return on Assets
Return on Capital Employed
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/01/02 23:16 |
| End of Day Share Price | 2025/01/02 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
Ares Capital Corporation is covered by 33 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Kannan Venkateshwar | Barclays |
| Vernon Plack | BB&T Capital Markets |
| David Chiaverini | BMO Capital Markets Equity Research |