Ares Capital Corp reported results; disclosed a material event
SEC 8-KRead source ↗
Ares Capital Corp is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$23
Valuation models combined (5)
Base case. Range ~$18–$29. Weighted average of 5 models (forward price-to-earnings vs peers, residual income, justified price-to-book, price-to-book vs peers, dividend discount (two-stage)), the forward price-to-earnings vs peers counting double.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Ares Capital Corp valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders4 buying, 0 selling6 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
- Funds370 adding, 345 cuttingOf 35 active managers that changed their stake, 9 added; quarter to June 30, 2026Fund buyers and sellers
- Congress0 purchases, 1 saleBy 1 member of Congress, last 12 months, as disclosedTrades by members of Congress
The Fundamentalytics view
Current signal Share count rising (dilution): Diluted shares outstanding rose 5.0% year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in Ares Capital Corp's latest figures clears our strength thresholds.
Things to watch
- Share dilution. Diluted shares rose 5.0% in a year.
- Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.
Latest results
- Earnings per share
- $0.46 against an average estimate of $0.48: missed by 3.3%
- Share reaction
- -0.4% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
- Next report
- October 27, 2026; average EPS estimate $0.48
Price chart
- 1 day+1.6%
- 1 week+4.4%
- 1 month+3.0%
- This year+3.6%
- 1 year+5.5%
- 5 years+48.9%
- S&P 500 this year+11.2%
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Third-party market data · may be delayed
At a glance
Profitability
- EPS (TTM, diluted)
- $1.22
Growth
- Share count change
- +5.0%
Earnings
- Last results
- October 27, 2026
- Next results (est.)
- February 3, 2027
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Results
- Agreement
Ares Capital Corp entered a material agreement; made a public disclosure
SEC 8-KRead source ↗ - Agreement
Ares Capital Corp entered a material agreement; took on a material financial obligation; disclosed a material event
SEC 8-KRead source ↗ - Shareholder vote
Ares Capital Corp reported shareholder vote results
SEC 8-KRead source ↗ - Results
Ares Capital Corp reported results; disclosed a material event
SEC 8-KRead source ↗ - Agreement
Ares Capital Corp entered a material agreement; took on a material financial obligation
SEC 8-KRead source ↗
Valuation models
We value Ares Capital Corp as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$18 ~$15–$23 | Primary model, counts double |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$23 ~$18–$30 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$24 ~$21–$28 | Included |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$29 ~$31–$78 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | ~$26 ~$22–$31 | Included |
| Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$23 ~$18–$29 | 5 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ares Capital Corp with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $1.88 | −6% | $3.1bn | +1% |
| Next | $1.94 | +3% | $3.3bn | +7% |
Next year's EPS estimate has moved +0.5% in 90 days, across 13 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −1.4% on 90 days ago. In the last 30 days, 1 analyst raised Ares Capital Corp's forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $1.91 | $1.93 |
| 60 days ago | $1.91 | $1.93 |
| 30 days ago | $1.91 | $1.93 |
| 7 days ago | $1.91 | $1.94 |
| Now | $1.88 | $1.94 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $0.48 | $0.46 | −3.3% |
| Jun 2026 | $0.47 | $0.47 | −0.6% |
| Mar 2026 | $0.48 | $0.47 | −2.5% |
| Dec 2025 | $0.50 | $0.50 | +0.4% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 5.6% of tradable shares
- Days to cover
- 8.66 at average volume
- Short interest, 1 month
- −4% to October 15, 2026
- Held by institutions
- 36% of shares
- Held by insiders
- 0.6% of shares
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| ARCC | +36% | −4% | +20% | +20% | +1% | +4% |
| Industry peers (median) | +33% | −17% | +19% | +15% | −4% | −6% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| ARCC | 83% | 42% | 67% | 75% | 50% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| ARCC | −8% | −22% | −12% | −7% | −19% | −15% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 57% from February 7, 2020 to March 23, 2020. Getting back needed a 131% gain, reached on January 19, 2021, 302 days after the low.
Price behaviour
- 52-week range
- $16.60 – $19.70
- From 52-week high
- −1.4%
- vs 50-day average
- +1.8%
- vs 200-day average
- +6.1%
- Volatility (1 year)
- 19%
- Beta vs S&P 500
- 0.59
Share price after results
- Next day
- 4 up, 8 down typical move ±1.3%
- After a week
- 5 up, 6 down typical move ±2.1%
- After a month
- 8 up, 3 down typical move ±2.5%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 27, 2026 | −0.4% | +0.9% | — | — |
| July 29, 2026 | −1.1% | +0.1% | +1.5% | +4.4% |
| April 28, 2026 | +0.3% | −0.5% | +4.0% | +1.1% |
| February 4, 2026 | −1.8% | −1.7% | +4.1% | −2.0% |
| October 28, 2025 | +1.4% | +0.3% | −0.2% | +0.9% |
| July 29, 2025 | −0.3% | −0.4% | −1.0% | −1.7% |
| April 29, 2025 | −2.8% | +0.7% | −2.7% | +3.5% |
| February 5, 2025 | −4.5% | +0.8% | −3.8% | −3.4% |
| October 30, 2024 | −2.0% | −2.3% | −0.8% | +2.7% |
| July 30, 2024 | +0.2% | +1.1% | −2.6% | +0.4% |
| May 1, 2024 | −0.3% | +0.6% | +0.8% | +4.7% |
| February 7, 2024 | +0.4% | +0.9% | +1.5% | +2.9% |
Fundamentals
Dividends, buybacks and capital spending
- Dividends (TTM)
- $1.4B
- Diluted share count
- +5.0%
- year over year
- Dividend payout ratio
- 155%
- of net income paid out
Who owns it
Funds buying and selling- Reported value
- $4.5B
- Institutions reporting
- 780
- Shares held vs prior quarter
- ▼ 1.0%
- Positions opened / closed
- 66 / 88
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Morgan Stanley | $315M | 17.0M | 7.0% | ▲ 4.1% |
| UBS Group AG | $255M | 13.8M | 5.7% | ▼ 3.8% |
| Van Eck Associates Corp | $247M | 13.3M | 5.5% | ▲ 22.2% |
| Strs Ohio | $197M | 10.7M | 4.4% | ▲ 1.5% |
| Bank Of America Corp | $166M | 8.9M | 3.7% | ▼ 2.2% |
| Jpmorgan Chase & Co | $145M | 7.9M | 3.2% | ▲ 2.0% |
| Generali Asset Management Spa Sgr | $140M | 7.5M | 3.1% | 0.0% |
| Legal & General Group PLC | $121M | 6.5M | 2.7% | ▲ 9.0% |
| Two Sigma Investments, LP | $109M | 5.9M | 2.4% | ▼ 19.4% |
| Wells Fargo & Company | $82.2M | 4.4M | 1.8% | ▼ 1.1% |
| Ameriprise Financial Inc | $76.4M | 4.1M | 1.7% | ▲ 9.2% |
| LPL Financial LLC | $74.7M | 4.0M | 1.7% | ▼ 0.2% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ares Capital Corp's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chart Insider purchases History → $988,998 6 trades by 4 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $988,998 net buying
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Henson Mary Beth Director | October 28, 2026 | Buy | 2,500 | $18.46 | $46,150 |
| Markowicz Jana Chief Operating Officer | February 9, 2026 | Buy | 15,000 | $19.20 | $288,000 |
| Lem Scott C CFO and Treasurer | February 6, 2026 | Buy | 5,186 | $19.29 | $100,038 |
| Schnabel Michael Kort Chief Executive Officer | February 5, 2026 | Buy | 12,500 | $19.13 | $239,125 |
| Henson Mary Beth Director | February 5, 2026 | Buy | 4,000 | $19.14 | $76,560 |
| Schnabel Michael Kort Chief Executive Officer | February 5, 2026 | Buy | 12,500 | $19.13 | $239,125 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Trades by members of Congress
All 28 trades and filingsIn the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of Ares Capital Corp shares.
- Pete SessionsSale (full), $1,001 - $15,000, traded July 24, 2026, filed July 24, 2026
- Pete SessionsSale (full), $1,001 - $15,000, traded November 1, 2023, filed November 7, 2023
- Pete SessionsPurchase, $569.25, traded October 6, 2023, filed October 13, 2023
Earnings dates and SEC filings
Results announcements
Next expected around February 3, 2027 estimated from the company's past filing pattern, not announced
- October 27, 2026
- July 29, 2026
- April 28, 2026
- February 4, 2026
- October 28, 2025
- July 29, 2025
Recent SEC filings
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Ares Capital Corp in brief
- What does Ares Capital Corp do?
- Ares Capital Corp is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
- What is Ares Capital Corp's stock ticker?
- Ares Capital Corp trades under the ticker ARCC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Ares Capital Corp's largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Morgan Stanley, UBS Group AG and Van Eck Associates Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Does Ares Capital Corp pay a dividend?
- Yes: Ares Capital Corp paid $1.4B in dividends over the trailing twelve months and a payout ratio of 154.9%.
- Are insiders buying or selling Ares Capital Corp stock?
- Over the last 12 months, Ares Capital Corp's directors and officers reported 6 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
- When is Ares Capital Corp's next earnings date?
- Around February 3, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ares Capital Corp announces its own schedule.
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