NASDAQ$ARCC
Ares Capital Corp · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Ares Capital reported Q4 2025 GAAP net income of $293M with core EPS of $0.50 and declared a $0.48 dividend.
GAAP net income was $293 million ($0.41 per share) for Q4; core EPS was $0.50. Net investment income was $370 million ($0.52 per share). The board declared a Q1 2026 dividend of $0.48 per share payable March 31, 2026.
- Q4 GAAP net income $293M; core EPS $0.50.
- Net investment income $370M; portfolio at fair value $29.5B.
- NAV per share $19.94; debt/equity 1.12x.
- Dividend $0.48 for Q1 2026.
Headline financials
Revenue & EPS history
Ares Capital · Revenue · Quarterly
$793M
Forward guidance
BDC outlook emphasizes portfolio yield, credit quality, and dividend coverage.
Tailwinds
- Net investment income supports distributions.
- Senior secured lending focus.
- Floating-rate income benefit.
Headwinds
- Credit losses in stressed borrowers.
- Spread compression.
- Market volatility affecting NAV.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+0.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.3%
Avg return
30 days after
56%
36 / 64 earnings
Positive
+6.5%
Q3 2022
Best reaction
-9.2%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +3.4% | +1.0% | |
| Q4 2025 | +0.5% | +1.8% | -2.0% | |
| Q3 2025 | +1.1% | +0.1% | +0.9% | |
| Q1 2025 | -2.7% | -2.1% | +3.5% | |
| Q4 2024 | -3.0% | -3.9% | -3.4% | |
| Q3 2024 | -2.0% | -3.2% | +2.7% | |
| Q2 2024 | +0.2% | -2.9% | +0.6% | |
| Q1 2024 | -0.3% | +1.4% | +4.7% | |
| Q4 2023 | +0.4% | +1.3% | +2.9% | |
| Q3 2023 | +0.5% | -0.8% | +5.5% | |
| Q2 2023 | +1.0% | -0.4% | -2.1% | |
| Q1 2023 | -3.5% | +0.1% | +1.1% | |
| Q4 2022 | +1.8% | +0.7% | -5.9% | |
| Q3 2022 | +6.5% | +7.8% | +8.3% | |
| Q2 2022 | +2.7% | +0.9% | +6.8% | |
| Q1 2022 | -4.1% | -6.6% | -10.6% | |
| Q4 2021 | -2.1% | -4.5% | -10.5% | |
| Q3 2021 | +1.2% | +0.7% | -3.1% | |
| Q2 2021 | -1.3% | -0.5% | +0.0% | |
| Q1 2021 | +0.1% | -2.4% | -0.7% | |
| Q4 2020 | -1.2% | -0.4% | +3.1% | |
| Q3 2020 | -0.8% | -1.3% | +19.9% | |
| Q2 2020 | +2.4% | +3.0% | -1.4% | |
| Q1 2020 | +6.4% | +9.3% | +25.9% | |
| Q4 2019 | -0.2% | -1.0% | -23.7% | |
| Q3 2019 | -1.2% | +0.1% | +1.1% | |
| Q2 2019 | +1.9% | +1.2% | +3.3% | |
| Q1 2019 | +0.2% | +0.4% | +0.4% | |
| Q4 2018 | +2.9% | +3.4% | +3.0% | |
| Q3 2018 | +6.0% | +6.5% | +4.7% | |
| Q2 2018 | +2.3% | +3.1% | +3.6% | |
| Q1 2018 | +1.3% | +2.6% | +5.7% | |
| Q4 2017 | +3.2% | +2.6% | -1.6% | |
| Q3 2017 | -0.3% | +0.9% | +1.0% | |
| Q2 2017 | -0.1% | +0.1% | -1.6% | |
| Q1 2017 | -4.8% | -5.4% | -4.0% | |
| Q4 2016 | +0.5% | +0.5% | -1.9% | |
| Q3 2016 | +0.4% | +0.7% | +6.1% | |
| Q2 2016 | +2.8% | +2.3% | +8.4% | |
| Q1 2016 | +0.1% | — | — | |
| Q4 2015 | +3.6% | — | — | |
| Q3 2015 | +1.2% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q1 2015 | -4.2% | — | — | |
| Q4 2014 | +1.6% | — | — | |
| Q3 2014 | +1.4% | — | — | |
| Q2 2014 | -1.4% | — | — | |
| Q1 2014 | -3.5% | — | — | |
| Q4 2013 | -0.9% | — | — | |
| Q3 2013 | +2.4% | — | — | |
| Q2 2013 | -3.9% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | +2.1% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2011 | +2.3% | — | — | |
| Q3 2011 | -3.1% | — | — | |
| Q2 2011 | -9.2% | — | — | |
| Q1 2011 | -1.3% | — | — | |
| Q4 2010 | -2.0% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q2 2010 | +2.4% | — | — | |
| Q1 2010 | +3.0% | — | — |
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