Financials Ares Capital Corporation

Equities

ARCC

US04010L1035

Closed End Funds

Market Closed - Nasdaq 04:00:00 2024-02-23 pm EST 5-day change 1st Jan Change
20.11 USD 0.00% Intraday chart for Ares Capital Corporation -0.20% +0.40%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,967 7,138 9,763 9,557 11,406 11,710 - -
Enterprise Value (EV) 1 14,762 15,303 20,371 21,509 22,760 23,889 24,754 11,710
P/E ratio 10 x 14.8 x 6.04 x 15.5 x 7.47 x 8.56 x 9.07 x -
Yield 9.01% 9.47% 7.65% 10.1% 9.59% 9.61% 9.66% 9.55%
Capitalization / Revenue 5.21 x 4.72 x 5.36 x 4.56 x 4.36 x 4.15 x 4.18 x -
EV / Revenue 9.66 x 10.1 x 11.2 x 10.3 x 8.71 x 8.47 x 8.83 x -
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.08 x 1 x 1.12 x 1 x 1.04 x 1.03 x 1.02 x -
Nbr of stocks (in thousands) 427,194 422,622 460,754 517,459 569,437 582,311 - -
Reference price 2 18.65 16.89 21.19 18.47 20.03 20.11 20.11 20.11
Announcement Date 2/12/20 2/10/21 2/9/22 2/7/23 2/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,528 1,511 1,820 2,096 2,614 2,822 2,804 -
EBITDA - - - - - - - -
EBIT - - - - - - - -
Operating Margin - - - - - - - -
Earnings before Tax (EBT) 1 - 813 - - 1,286 1,428 1,324 -
Net income 1 793 484 1,567 600 1,522 1,380 1,326 -
Net margin 51.9% 32.03% 86.1% 28.63% 58.22% 48.91% 47.28% -
EPS 2 1.860 1.140 3.510 1.190 2.680 2.350 2.217 -
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.680 1.600 1.620 1.870 1.920 1.933 1.943 1.920
Announcement Date 2/12/20 2/10/21 2/9/22 2/7/23 2/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 442 529 440 479 537 640 618 634 655 707 702.4 708.9 708.2 711.9 708.9
EBITDA - - - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) 1 189 250 211 267 302 367 320 320 292 354 356.2 362.5 352.8 356.8 343.8
Net income 1 334 382 211 111 104 174 278 331 500 413 344.9 348.5 347.2 347 339.8
Net margin 75.57% 72.21% 47.95% 23.17% 19.37% 27.19% 44.98% 52.21% 76.34% 58.42% 49.11% 49.16% 49.02% 48.74% 47.94%
EPS 2 0.7300 0.8300 0.4300 0.2200 0.2100 0.3300 0.5100 0.5900 0.8700 0.7000 0.5936 0.5924 0.5833 0.5828 0.5686
Dividend per Share 2 0.4100 0.4100 0.4200 0.4500 0.4600 0.5100 0.4800 0.4800 0.4800 0.4800 0.4800 0.4846 0.4846 0.4846 0.4888
Announcement Date 10/26/21 2/9/22 4/26/22 7/26/22 10/25/22 2/7/23 4/25/23 7/25/23 10/24/23 2/7/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,795 8,165 10,608 11,952 11,354 12,179 13,044 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 10.7% 10.8% 9.24% 11.9% 13.1% 12.1% 11% 10.3%
ROA (Net income/ Total Assets) 5.83% 5.11% 4% 5.05% 5.9% 5.63% 5.14% -
Assets 1 13,591 9,479 39,163 11,879 25,798 24,532 25,775 -
Book Value Per Share 2 17.30 17.00 19.00 18.40 19.20 19.60 19.70 -
Cash Flow per Share 2 -2.830 - -5.510 -2.620 0.8900 1.880 1.730 -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/12/20 2/10/21 2/9/22 2/7/23 2/7/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
20.11 USD
Average target price
21.62 USD
Spread / Average Target
+7.53%
Consensus
+229% on MICROSOFT CORPORATION since our purchase on January 11, 2019
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