Ares Capital Corporation (ARCC) - Net Assets
Based on the latest financial reports, Ares Capital Corporation (ARCC) has net assets worth $14.32 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($31.23 Billion) and total liabilities ($16.92 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Ares Capital Corporation asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $14.32 Billion |
| % of Total Assets | 45.84% |
| Annual Growth Rate | 23.87% |
| 5-Year Change | 61.46% |
| 10-Year Change | 177.21% |
| Growth Volatility | 58.86 |
Ares Capital Corporation - Net Assets Trend (2004–2025)
This chart illustrates how Ares Capital Corporation's net assets have evolved over time, based on quarterly financial data. Also explore Ares Capital Corporation (ARCC) total assets for the complete picture of this company's asset base.
Annual Net Assets for Ares Capital Corporation (2004–2025)
The table below shows the annual net assets of Ares Capital Corporation from 2004 to 2025. For live valuation and market cap data, see ARCC market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $14.32 Billion | +7.21% |
| 2024-12-31 | $13.36 Billion | +19.23% |
| 2023-12-31 | $11.20 Billion | +17.23% |
| 2022-12-31 | $9.55 Billion | +7.75% |
| 2021-12-31 | $8.87 Billion | +23.58% |
| 2020-12-31 | $7.18 Billion | -3.90% |
| 2019-12-31 | $7.47 Billion | +2.29% |
| 2018-12-31 | $7.30 Billion | +2.85% |
| 2017-12-31 | $7.10 Billion | +37.42% |
| 2016-12-31 | $5.17 Billion | -0.16% |
| 2015-12-31 | $5.17 Billion | -2.09% |
| 2014-12-31 | $5.28 Billion | +7.73% |
| 2013-12-31 | $4.90 Billion | +22.97% |
| 2012-12-31 | $3.99 Billion | +26.72% |
| 2011-12-31 | $3.15 Billion | +3.17% |
| 2010-12-31 | $3.05 Billion | +142.51% |
| 2009-12-31 | $1.26 Billion | +14.89% |
| 2008-12-31 | $1.09 Billion | -2.64% |
| 2007-12-31 | $1.12 Billion | +42.45% |
| 2006-12-31 | $789.43 Million | +38.59% |
| 2005-12-31 | $569.61 Million | +256.66% |
| 2004-12-31 | $159.71 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ares Capital Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 95813641500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $958.00 Million | 6.69% |
| Common Stock | $1.00 Million | 0.01% |
| Other Components | $13.36 Billion | 93.30% |
| Total Equity | $14.32 Billion | 100.00% |
Ares Capital Corporation Competitors by Market Cap
The table below lists competitors of Ares Capital Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Pentair PLC
NYSE:PNR
|
$12.94 Billion |
|
IGM Financial Inc.
TO:IGM
|
$12.95 Billion |
|
Fidelity National Financial Inc
NYSE:FNF
|
$12.96 Billion |
|
Gaming & Leisure Properties
NASDAQ:GLPI
|
$12.97 Billion |
|
Shenzhen Sunway Communication
SHE:300136
|
$12.93 Billion |
|
IPSEN SA SP.ADR 1/4/ EO 1
F:I7G0
|
$12.92 Billion |
|
Tradeweb Markets Inc
NASDAQ:TW
|
$12.92 Billion |
|
BB Seguridade Participacoes SA
SA:BBSE3
|
$12.90 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ares Capital Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,355,000,000 to 14,318,000,000, a change of 963,000,000 (7.2%).
- Net income of 1,299,000,000 contributed positively to equity growth.
- Dividend payments of 268,000,000 reduced retained earnings.
- New share issuances of 928,000,000 increased equity.
- Other factors decreased equity by 996,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.30 Billion | +9.07% |
| Dividends Paid | $268.00 Million | -1.87% |
| Share Issuances | $928.00 Million | +6.48% |
| Other Changes | $-996.00 Million | -6.96% |
| Total Change | $- | 7.21% |
Book Value vs Market Value Analysis
This analysis compares Ares Capital Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.94x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.33x to 0.94x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | $14.43 | $19.25 | x |
| 2005-12-31 | $24.25 | $19.25 | x |
| 2006-12-31 | $17.95 | $19.25 | x |
| 2007-12-31 | $16.62 | $19.25 | x |
| 2008-12-31 | $12.21 | $19.25 | x |
| 2009-12-31 | $12.30 | $19.25 | x |
| 2010-12-31 | $17.26 | $19.25 | x |
| 2011-12-31 | $15.36 | $19.25 | x |
| 2012-12-31 | $17.33 | $19.25 | x |
| 2013-12-31 | $18.37 | $19.25 | x |
| 2014-12-31 | $17.31 | $19.25 | x |
| 2015-12-31 | $16.48 | $19.25 | x |
| 2016-12-31 | $16.45 | $19.25 | x |
| 2017-12-31 | $16.70 | $19.25 | x |
| 2018-12-31 | $17.14 | $19.25 | x |
| 2019-12-31 | $17.49 | $19.25 | x |
| 2020-12-31 | $16.92 | $19.25 | x |
| 2021-12-31 | $19.88 | $19.25 | x |
| 2022-12-31 | $18.45 | $19.25 | x |
| 2023-12-31 | $19.48 | $19.25 | x |
| 2024-12-31 | $21.40 | $19.25 | x |
| 2025-12-31 | $20.48 | $19.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ares Capital Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.07%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 41.30%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.18x
- Recent ROE (9.07%) is below the historical average (9.24%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 2.08% | 77.59% | 0.02x | 1.38x | $-12.64 Million |
| 2005 | 7.62% | 91.85% | 0.08x | 1.08x | $-13.58 Million |
| 2006 | 11.18% | 88.35% | 0.07x | 1.71x | $9.34 Million |
| 2007 | 8.08% | 46.48% | 0.11x | 1.63x | $-21.62 Million |
| 2008 | -12.74% | -72.47% | 0.09x | 1.91x | $-248.94 Million |
| 2009 | 16.11% | 101.34% | 0.09x | 1.84x | $76.90 Million |
| 2010 | 16.13% | 93.05% | 0.12x | 1.50x | $186.98 Million |
| 2011 | 10.15% | 43.70% | 0.14x | 1.71x | $4.73 Million |
| 2012 | 12.74% | 72.94% | 0.11x | 1.60x | $109.34 Million |
| 2013 | 9.96% | 68.53% | 0.09x | 1.66x | $-1.92 Million |
| 2014 | 11.19% | 68.24% | 0.09x | 1.80x | $62.63 Million |
| 2015 | 7.33% | 55.90% | 0.07x | 1.84x | $-138.33 Million |
| 2016 | 9.18% | 64.31% | 0.08x | 1.79x | $-42.50 Million |
| 2017 | 9.40% | 68.48% | 0.08x | 1.74x | $-42.80 Million |
| 2018 | 11.75% | 97.61% | 0.07x | 1.77x | $128.00 Million |
| 2019 | 10.62% | 96.24% | 0.06x | 2.00x | $46.30 Million |
| 2020 | 6.74% | 89.46% | 0.03x | 2.26x | $-233.60 Million |
| 2021 | 17.67% | 93.38% | 0.08x | 2.35x | $680.20 Million |
| 2022 | 6.28% | 50.17% | 0.05x | 2.34x | $-355.50 Million |
| 2023 | 11.30% | 60.72% | 0.09x | 2.12x | $145.90 Million |
| 2024 | 11.40% | 64.30% | 0.08x | 2.12x | $186.50 Million |
| 2025 | 9.07% | 41.30% | 0.10x | 2.18x | $-132.80 Million |
Industry Comparison
This section compares Ares Capital Corporation's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,282,182,370
- Average return on equity (ROE) among peers: -7.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ares Capital Corporation (ARCC) | $14.32 Billion | 2.08% | 1.18x | $12.93 Billion |
| Acadian Asset Management Inc (AAMI) | $384.40 Million | 74.58% | 2.59x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.60 Billion | 15.33% | 0.00x | $3.60 Billion |
| Associated Capital Group Inc (AC) | $948.70 Million | 4.12% | 0.07x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $141.30 Million | 14.06% | 0.03x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $2.99 Million | -170.94% | 0.46x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $17.85 Million | -32.96% | 4.15x | $368.87 Million |
| Affiliated Managers Group Inc (AMG) | $962.54 Million | 12.37% | 1.41x | $8.19 Billion |
| Ameriprise Financial Inc (AMP) | $9.71 Billion | 10.60% | 12.87x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $-303.04 Million | 0.00% | 0.00x | $44.19 Million |
| Artisan Partners Asset Management Inc (APAM) | $-641.09 Million | 0.00% | 0.00x | $2.65 Billion |
About Ares Capital Corporation
Ares Capital Corporation is a business development company specializing in growth capital, acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, c… Read more