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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.06
ARCC's Cash-to-Debt is ranked lower than
95% of the 1151 Companies
in the Global Asset Management industry.

( Industry Median: 9999.00 vs. ARCC: 0.06 )
Ranked among companies with meaningful Cash-to-Debt only.
ARCC' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.02  Med: 0.07 Max: No Debt
Current: 0.06
0.02
No Debt
Equity-to-Asset 0.57
ARCC's Equity-to-Asset is ranked lower than
65% of the 1010 Companies
in the Global Asset Management industry.

( Industry Median: 0.76 vs. ARCC: 0.57 )
Ranked among companies with meaningful Equity-to-Asset only.
ARCC' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.52  Med: 0.59 Max: 0.96
Current: 0.57
0.52
0.96
Debt-to-Equity 0.71
ARCC's Debt-to-Equity is ranked lower than
72% of the 554 Companies
in the Global Asset Management industry.

( Industry Median: 0.27 vs. ARCC: 0.71 )
Ranked among companies with meaningful Debt-to-Equity only.
ARCC' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.23  Med: 0.65 Max: 1.62
Current: 0.71
0.23
1.62
Debt-to-EBITDA 4.91
ARCC's Debt-to-EBITDA is ranked lower than
64% of the 533 Companies
in the Global Asset Management industry.

( Industry Median: 3.03 vs. ARCC: 4.91 )
Ranked among companies with meaningful Debt-to-EBITDA only.
ARCC' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -8.89  Med: 4.52 Max: 6.58
Current: 4.91
-8.89
6.58
Interest Coverage 3.53
ARCC's Interest Coverage is ranked lower than
89% of the 1048 Companies
in the Global Asset Management industry.

( Industry Median: 368.00 vs. ARCC: 3.53 )
Ranked among companies with meaningful Interest Coverage only.
ARCC' s Interest Coverage Range Over the Past 10 Years
Min: 3.11  Med: 3.56 Max: 6.52
Current: 3.53
3.11
6.52
Piotroski F-Score: 5
Altman Z-Score: 1.13
Beneish M-Score: -2.36
WACC vs ROIC
6.64%
6.85%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % 67.64
ARCC's Operating Margin % is ranked higher than
58% of the 1040 Companies
in the Global Asset Management industry.

( Industry Median: 33.18 vs. ARCC: 67.64 )
Ranked among companies with meaningful Operating Margin % only.
ARCC' s Operating Margin % Range Over the Past 10 Years
Min: 62.18  Med: 67.6 Max: 73.46
Current: 67.64
62.18
73.46
Net Margin % 65.81
ARCC's Net Margin % is ranked higher than
67% of the 1039 Companies
in the Global Asset Management industry.

( Industry Median: 27.66 vs. ARCC: 65.81 )
Ranked among companies with meaningful Net Margin % only.
ARCC' s Net Margin % Range Over the Past 10 Years
Min: -57.99  Med: 56.46 Max: 143.12
Current: 65.81
-57.99
143.12
ROE % 11.18
ARCC's ROE % is ranked higher than
60% of the 1134 Companies
in the Global Asset Management industry.

( Industry Median: 6.97 vs. ARCC: 11.18 )
Ranked among companies with meaningful ROE % only.
ARCC' s ROE % Range Over the Past 10 Years
Min: -12.57  Med: 10.94 Max: 32.12
Current: 11.18
-12.57
32.12
ROA % 6.44
ARCC's ROA % is ranked higher than
61% of the 1162 Companies
in the Global Asset Management industry.

( Industry Median: 3.50 vs. ARCC: 6.44 )
Ranked among companies with meaningful ROA % only.
ARCC' s ROA % Range Over the Past 10 Years
Min: -7.11  Med: 6.56 Max: 20.12
Current: 6.44
-7.11
20.12
3-Year Revenue Growth Rate -5.60
ARCC's 3-Year Revenue Growth Rate is ranked lower than
67% of the 799 Companies
in the Global Asset Management industry.

( Industry Median: 4.00 vs. ARCC: -5.60 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
ARCC' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -5.6  Med: 1.5 Max: 91.7
Current: -5.6
-5.6
91.7
3-Year EBITDA Growth Rate -7.50
ARCC's 3-Year EBITDA Growth Rate is ranked lower than
69% of the 730 Companies
in the Global Asset Management industry.

( Industry Median: 6.10 vs. ARCC: -7.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
ARCC' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: -4.9 Max: 97.3
Current: -7.5
0
97.3
3-Year EPS without NRI Growth Rate -6.80
ARCC's 3-Year EPS without NRI Growth Rate is ranked lower than
67% of the 673 Companies
in the Global Asset Management industry.

( Industry Median: 8.00 vs. ARCC: -6.80 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
ARCC' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: -6.2 Max: 66.6
Current: -6.8
0
66.6
GuruFocus has detected 7 Warning Signs with Ares Capital Corp ARCC.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» ARCC's 30-Y Financials

Financials (Next Earnings Date: 2018-08-02)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2017

ARCC Guru Trades in Q2 2017

Paul Singer 1,119,863 sh (New)
Paul Tudor Jones 53,460 sh (+60.94%)
Murray Stahl 14,185 sh (+18.36%)
NWQ Managers 1,114,793 sh (+5.99%)
Manning & Napier Advisors, Inc 31,212 sh (unchged)
David Dreman 15,670 sh (unchged)
Columbia Wanger 2,267,080 sh (unchged)
John Paulson Sold Out
George Soros Sold Out
Scott Black 143,040 sh (-0.74%)
Pioneer Investments 223,604 sh (-37.65%)
» More
Q3 2017

ARCC Guru Trades in Q3 2017

NWQ Managers 1,175,628 sh (+5.46%)
Scott Black 149,863 sh (+4.77%)
Murray Stahl 14,485 sh (+2.11%)
David Dreman 15,670 sh (unchged)
Paul Singer Sold Out
Paul Tudor Jones Sold Out
Columbia Wanger 2,254,046 sh (-0.57%)
Pioneer Investments 218,392 sh (-2.33%)
Manning & Napier Advisors, Inc 28,597 sh (-8.38%)
» More
Q4 2017

ARCC Guru Trades in Q4 2017

Paul Tudor Jones 30,334 sh (New)
Columbia Wanger 2,549,524 sh (+13.11%)
Scott Black 150,750 sh (+0.59%)
Murray Stahl 14,485 sh (unchged)
David Dreman 15,670 sh (unchged)
Pioneer Investments Sold Out
NWQ Managers 1,160,993 sh (-1.24%)
» More
Q1 2018

ARCC Guru Trades in Q1 2018

Chase Coleman 719,620 sh (New)
Murray Stahl 15,985 sh (+10.36%)
David Dreman 15,670 sh (unchged)
Paul Tudor Jones Sold Out
Scott Black 142,476 sh (-5.49%)
NWQ Managers 1,047,195 sh (-9.80%)
» More
» Details

Insider Trades

Latest Guru Trades with NAS:ARCC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
NWQ Managers 2018-03-31 Reduce -9.80%0.03%$15.25 - $16.28 $ 16.746%1,047,195
NWQ Managers 2017-12-31 Reduce -1.24%$15.69 - $16.61 $ 16.743%1,160,993
NWQ Managers 2017-09-30 Add 5.46%0.01%$15.67 - $16.52 $ 16.743%1,175,628
NWQ Managers 2017-06-30 Add 5.99%0.01%$16.18 - $17.64 $ 16.74-1%1,114,793
George Soros 2017-06-30 Sold Out 0.01%$16.18 - $17.64 $ 16.74-1%0
John Paulson 2017-06-30 Sold Out $16.18 - $17.64 $ 16.74-1%0
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Peter Lynch Chart ( What is Peter Lynch Charts )

Business Description

Industry: Asset Management » Asset Management    NAICS: 523999    SIC: 6799
Compare:OSTO:LATO B, NAS:CG, BSP:BPAC3, XPAR:MF, NYSE:EV, HKSE:01031, XPAR:RF, NYSE:JHG, NYSE:OAK, TSX:IGM, XBRU:ACKB, XBRU:SOF, SHSE:601108, TSX:CIX, TSE:8473, LSE:INVP, TPE:2883, XTER:GLJ, SHSE:600816, ASX:CGF » details
Traded in other countries:9A2.Germany,
Headquarter Location:USA
Ares Capital Corp is a specialty finance company that is a closed-end, non-diversified management investment company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments.

Ares Capital Corp is a US-based closed-ended specialty finance company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. The company focuses on investing primarily in U.S. middle-market companies with investment opportunities as well as in larger companies. Its portfolio comprises of first lien senior secured loans, second lien senior secured loans and mezzanine debt (subordinated unsecured loan) which may include equity components which are diversified by industry and sector. The company may invest in preferred and common equity investments to the lesser proportion. Its revenue mainly consists of interest and dividend income received from the investment made.

Ratios

vs
industry
vs
history
PE Ratio 9.00
ARCC's PE Ratio is ranked higher than
64% of the 864 Companies
in the Global Asset Management industry.

( Industry Median: 13.60 vs. ARCC: 9.00 )
Ranked among companies with meaningful PE Ratio only.
ARCC' s PE Ratio Range Over the Past 10 Years
Min: 3.47  Med: 9.24 Max: 107.64
Current: 9
3.47
107.64
Forward PE Ratio 10.40
ARCC's Forward PE Ratio is ranked higher than
76% of the 121 Companies
in the Global Asset Management industry.

( Industry Median: 12.18 vs. ARCC: 10.40 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 9.00
ARCC's PE Ratio without NRI is ranked higher than
64% of the 862 Companies
in the Global Asset Management industry.

( Industry Median: 13.86 vs. ARCC: 9.00 )
Ranked among companies with meaningful PE Ratio without NRI only.
ARCC' s PE Ratio without NRI Range Over the Past 10 Years
Min: 3.47  Med: 9.24 Max: 107.64
Current: 9
3.47
107.64
PB Ratio 0.99
ARCC's PB Ratio is ranked higher than
63% of the 1124 Companies
in the Global Asset Management industry.

( Industry Median: 1.05 vs. ARCC: 0.99 )
Ranked among companies with meaningful PB Ratio only.
ARCC' s PB Ratio Range Over the Past 10 Years
Min: 0.3  Med: 1 Max: 1.38
Current: 0.99
0.3
1.38
PS Ratio 5.91
ARCC's PS Ratio is ranked lower than
57% of the 935 Companies
in the Global Asset Management industry.

( Industry Median: 4.74 vs. ARCC: 5.91 )
Ranked among companies with meaningful PS Ratio only.
ARCC' s PS Ratio Range Over the Past 10 Years
Min: 1.31  Med: 5.2 Max: 6.88
Current: 5.91
1.31
6.88
Price-to-Free-Cash-Flow 38.73
ARCC's Price-to-Free-Cash-Flow is ranked lower than
99.99% of the 309 Companies
in the Global Asset Management industry.

( Industry Median: 15.34 vs. ARCC: 38.73 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
ARCC' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 5.97  Med: 13.81 Max: 59
Current: 38.73
5.97
59
Price-to-Operating-Cash-Flow 38.73
ARCC's Price-to-Operating-Cash-Flow is ranked lower than
99.99% of the 535 Companies
in the Global Asset Management industry.

( Industry Median: 13.15 vs. ARCC: 38.73 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
ARCC' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 5.97  Med: 13.81 Max: 59
Current: 38.73
5.97
59
EV-to-EBIT 11.45
ARCC's EV-to-EBIT is ranked lower than
55% of the 815 Companies
in the Global Asset Management industry.

( Industry Median: 11.14 vs. ARCC: 11.45 )
Ranked among companies with meaningful EV-to-EBIT only.
ARCC' s EV-to-EBIT Range Over the Past 10 Years
Min: -70.7  Med: 10.6 Max: 72.4
Current: 11.45
-70.7
72.4
EV-to-EBITDA 11.45
ARCC's EV-to-EBITDA is ranked lower than
57% of the 830 Companies
in the Global Asset Management industry.

( Industry Median: 10.42 vs. ARCC: 11.45 )
Ranked among companies with meaningful EV-to-EBITDA only.
ARCC' s EV-to-EBITDA Range Over the Past 10 Years
Min: -71.8  Med: 10.6 Max: 71.3
Current: 11.45
-71.8
71.3
EV-to-Revenue 9.92
ARCC's EV-to-Revenue is ranked lower than
71% of the 904 Companies
in the Global Asset Management industry.

( Industry Median: 5.08 vs. ARCC: 9.92 )
Ranked among companies with meaningful EV-to-Revenue only.
ARCC' s EV-to-Revenue Range Over the Past 10 Years
Min: -1.4  Med: 8.5 Max: 12.4
Current: 9.92
-1.4
12.4
Shiller PE Ratio 9.42
ARCC's Shiller PE Ratio is ranked higher than
78% of the 258 Companies
in the Global Asset Management industry.

( Industry Median: 19.53 vs. ARCC: 9.42 )
Ranked among companies with meaningful Shiller PE Ratio only.
ARCC' s Shiller PE Ratio Range Over the Past 10 Years
Min: 7.54  Med: 9.24 Max: 10.63
Current: 9.42
7.54
10.63
Current Ratio 1.24
ARCC's Current Ratio is ranked lower than
83% of the 882 Companies
in the Global Asset Management industry.

( Industry Median: 3.47 vs. ARCC: 1.24 )
Ranked among companies with meaningful Current Ratio only.
ARCC' s Current Ratio Range Over the Past 10 Years
Min: 0.36  Med: 1.3 Max: 4.13
Current: 1.24
0.36
4.13
Quick Ratio 1.24
ARCC's Quick Ratio is ranked lower than
80% of the 882 Companies
in the Global Asset Management industry.

( Industry Median: 3.27 vs. ARCC: 1.24 )
Ranked among companies with meaningful Quick Ratio only.
ARCC' s Quick Ratio Range Over the Past 10 Years
Min: 0.36  Med: 1.3 Max: 4.13
Current: 1.24
0.36
4.13
Days Sales Outstanding 28.24
ARCC's Days Sales Outstanding is ranked higher than
60% of the 520 Companies
in the Global Asset Management industry.

( Industry Median: 43.55 vs. ARCC: 28.24 )
Ranked among companies with meaningful Days Sales Outstanding only.
ARCC' s Days Sales Outstanding Range Over the Past 10 Years
Min: 0.06  Med: 0.32 Max: 53.22
Current: 28.24
0.06
53.22
Days Payable 392.62
ARCC's Days Payable is ranked higher than
89% of the 204 Companies
in the Global Asset Management industry.

( Industry Median: 56.91 vs. ARCC: 392.62 )
Ranked among companies with meaningful Days Payable only.
ARCC' s Days Payable Range Over the Past 10 Years
Min: 58.71  Med: 162.37 Max: 392.62
Current: 392.62
58.71
392.62

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 9.08
ARCC's Dividend Yield % is ranked higher than
89% of the 1118 Companies
in the Global Asset Management industry.

( Industry Median: 3.61 vs. ARCC: 9.08 )
Ranked among companies with meaningful Dividend Yield % only.
ARCC' s Dividend Yield % Range Over the Past 10 Years
Min: 7.91  Med: 9.41 Max: 49.85
Current: 9.08
7.91
49.85
Dividend Payout Ratio 0.82
ARCC's Dividend Payout Ratio is ranked higher than
55% of the 640 Companies
in the Global Asset Management industry.

( Industry Median: 9999.00 vs. ARCC: 0.82 )
Ranked among companies with meaningful Dividend Payout Ratio only.
ARCC' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.36  Med: 0.83 Max: 1.27
Current: 0.82
0.36
1.27
Forward Dividend Yield % 9.08
ARCC's Forward Dividend Yield % is ranked higher than
87% of the 1046 Companies
in the Global Asset Management industry.

( Industry Median: 4.02 vs. ARCC: 9.08 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 9.17
ARCC's 5-Year Yield-on-Cost % is ranked higher than
82% of the 1387 Companies
in the Global Asset Management industry.

( Industry Median: 4.29 vs. ARCC: 9.17 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
ARCC' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 7.99  Med: 9.5 Max: 50.35
Current: 9.17
7.99
50.35
3-Year Average Share Buyback Ratio -10.70
ARCC's 3-Year Average Share Buyback Ratio is ranked lower than
76% of the 628 Companies
in the Global Asset Management industry.

( Industry Median: -1.50 vs. ARCC: -10.70 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
ARCC' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -87.3  Med: -28.3 Max: -1.8
Current: -10.7
-87.3
-1.8

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 0.99
ARCC's Price-to-Tangible-Book is ranked higher than
65% of the 1064 Companies
in the Global Asset Management industry.

( Industry Median: 1.08 vs. ARCC: 0.99 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
ARCC' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.43  Med: 1.04 Max: 1.35
Current: 0.99
0.43
1.35
Price-to-Intrinsic-Value-Projected-FCF 13.72
ARCC's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
95% of the 306 Companies
in the Global Asset Management industry.

( Industry Median: 1.16 vs. ARCC: 13.72 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
ARCC' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 2.99  Med: 13.01 Max: 1638
Current: 13.72
2.99
1638
Price-to-Median-PS-Value 1.14
ARCC's Price-to-Median-PS-Value is ranked lower than
59% of the 629 Companies
in the Global Asset Management industry.

( Industry Median: 1.02 vs. ARCC: 1.14 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
ARCC' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.36  Med: 1.02 Max: 2.26
Current: 1.14
0.36
2.26
Price-to-Graham-Number 0.63
ARCC's Price-to-Graham-Number is ranked higher than
67% of the 635 Companies
in the Global Asset Management industry.

( Industry Median: 0.91 vs. ARCC: 0.63 )
Ranked among companies with meaningful Price-to-Graham-Number only.
ARCC' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.37  Med: 0.67 Max: 2.1
Current: 0.63
0.37
2.1
Earnings Yield (Greenblatt) % 8.74
ARCC's Earnings Yield (Greenblatt) % is ranked higher than
62% of the 1174 Companies
in the Global Asset Management industry.

( Industry Median: 4.82 vs. ARCC: 8.74 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
ARCC' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -1273.5  Med: 9 Max: 40847
Current: 8.74
-1273.5
40847
Forward Rate of Return (Yacktman) % -16.89
ARCC's Forward Rate of Return (Yacktman) % is ranked lower than
85% of the 380 Companies
in the Global Asset Management industry.

( Industry Median: 9.15 vs. ARCC: -16.89 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
ARCC' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -22.6  Med: -16.8 Max: 7.2
Current: -16.89
-22.6
7.2

More Statistics

Revenue (TTM) (Mil) $1,202.00
EPS (TTM) $ 1.87
Beta0.73
Volatility8.79%
52-Week Range $15.03 - 16.96
Shares Outstanding (Mil)426.30

Analyst Estimate

Dec18 Dec19
Revenue (Mil $) 1,006 1,056
EBIT (Mil $)
EBITDA (Mil $)
EPS ($) 1.61 1.67
EPS without NRI ($) 1.61 1.67
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 1.52 1.52

Piotroski F-Score Details

Piotroski F-Score: 55
Positive ROAY
Positive CFROAY
Higher ROA yoyY
CFROA > ROAN
Lower Leverage yoyY
Higher Current Ratio yoyY
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

Personalized Checklist

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