Ares Capital Corporation is a business development company specializing in 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, consumer products, health care products and services, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $20 million and $200 million and a maximum of $400 million in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.

	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23
asset turnover	0.07 -	0.07 2.99%	0.05 30.95%	0.06 26.04%	0.06 1.78%	0.07 12.37%	0.06 18.90%	0.03 39.58%	0.08 141.01%	0.03 58.91%	0.07 107.78%
cash conversion cycle											-296.20 -
cash per share	28.57K -	29.57K 3.52%	28.81K 2.57%	0.71 100.00%	0.74 4.69%	0.69 6.55%	0.41 40.68%	0.60 45.34%	0.83 39.23%	0.61 27.05%	0.97 58.72%
company equity multiplier	1.66 -	1.80 8.28%	1.84 2.49%	1.79 2.85%	1.74 2.82%	1.77 1.55%	2.00 13.00%	2.26 13.07%	2.35 4.14%	2.34 0.27%	2.12 9.36%
days of inventory outstanding											-657.65 -
days of payables outstanding											-303.22 -
days of sales outstanding	170.28 -	90.82 46.66%	111.74 23.03%	93.40 16.41%	45.81 50.96%	42.77 6.63%	58.03 35.67%	150.45 159.28%	48.29 67.90%	88.66 83.61%	58.23 34.32%
dividend yield	0.09 -	0.10 12.45%	0.11 11.67%	0.09 15.42%	0.10 4.31%	0.10 2.86%	0.09 11.83%	0.09 8.80%	0.07 22.55%	0.10 35.02%	0.09 6.29%
ebit per revenue	1.25 -	1.27 1.89%	1.38 9.01%	1.24 10.65%	1.22 1.59%	1.27 4.48%	0.98 22.74%	0.93 5.30%	0.95 2.30%	1.50 57.49%	0.79 47.52%
ebt per ebit	0.75 -	0.74 0.99%	0.64 13.86%	0.73 14.30%	0.75 3.60%	0.79 4.27%	1 27.37%	1 0%	1 0%	0.59 40.99%	1.20 103.20%
effective tax rate	0.03 -	0.03 7.20%	0.04 48.86%	0.04 5.26%	0.03 34.71%	0.02 21.78%	0.02 8.71%	0.04 90.99%	0.02 51.90%	0.08 362.12%	0.01 84.55%
enterprise value multiple	11.23 -	10.28 8.48%	13.39 30.26%	12.95 3.31%	12.30 4.97%	10.34 15.91%	18.39 77.80%	30.73 67.08%	12.67 58.78%	19.98 57.71%	17.49 12.43%
fixed asset turnover							8.77 -	14.24 62.41%	62.15 336.53%	37.05 40.38%	163.60 341.57%
free cash flow per share	-4.86 -	-2.16 55.58%	1.15 153.16%	2.25 96.18%	-4.82 314.02%	0.71 114.81%	-2.83 497.09%	-1.31 53.64%	-5.51 319.70%	-2.73 50.50%	0.92 133.80%
gross profit margin	1 -	1 0%	1 0%	1 0%	1 0%	1 0%	1 0%	1 0%	1 0%	1 0%	1.27 27.44%
interest coverage	3.93 -	3.82 2.81%	2.75 28.11%	3.66 33.30%	4.05 10.59%	4.65 14.95%	2.78 40.27%	1.59 42.92%	4.29 170.38%	2.44 43.14%	2.43 0.54%
inventory turnover											-0.56 -
long term debt to capitalization	0.38 -	0.43 12.61%	0.44 4.28%	0.43 3.57%	0.41 5.24%	0.42 2.59%	0.49 16.91%	0.54 11.61%	0.56 2.40%	0.56 1.17%	0.52 8.41%
net income per ebt	0.97 -	0.97 0.21%	0.96 1.52%	0.96 0.25%	0.97 1.54%	0.98 0.62%	0.98 0.19%	0.96 1.84%	0.98 2.04%	0.92 6.70%	0.99 7.75%
net profit margin	0.90 -	0.91 0.68%	0.84 7.52%	0.86 2.39%	0.89 3.52%	0.98 9.61%	0.96 1.41%	0.89 7.04%	0.93 4.38%	0.81 13.29%	0.93 14.89%
operating cash flow per share	-4.86 -	-2.16 55.58%	1.15 153.16%	2.25 96.18%	-4.82 314.02%	0.71 114.81%	-2.83 497.09%	-1.31 53.64%	-5.51 319.70%	-2.73 50.50%	0.92 133.80%
operating cycle											-599.42 -
operating profit margin	1.25 -	1.27 1.89%	1.38 9.01%	1.24 10.65%	1.22 1.59%	1.27 4.48%	0.98 22.74%	0.93 5.30%	0.95 2.30%	1.50 57.49%	0.79 47.52%
payables turnover											-1.20 -
pretax profit margin	0.93 -	0.94 0.89%	0.88 6.10%	0.90 2.13%	0.92 1.95%	1.00 8.94%	0.98 1.60%	0.93 5.30%	0.95 2.30%	0.88 7.06%	0.94 6.63%
price fair value	0.97 -	0.90 6.83%	0.86 4.01%	1.00 15.91%	0.94 6.11%	0.91 3.41%	1.07 17.30%	1.00 6.43%	1.07 6.79%	0.96 9.67%	0.99 2.91%
receivables turnover	2.14 -	4.02 87.49%	3.27 18.72%	3.91 19.63%	7.97 103.90%	8.53 7.10%	6.29 26.29%	2.43 61.43%	7.56 211.56%	4.12 45.54%	6.27 52.26%
return on assets	0.06 -	0.06 3.69%	0.04 36.15%	0.05 29.05%	0.05 5.36%	0.07 23.17%	0.05 20.04%	0.03 43.83%	0.08 151.58%	0.03 64.37%	0.06 138.72%
return on capital employed	0.08 -	0.09 4.93%	0.07 24.87%	0.07 12.54%	0.08 1.07%	0.09 16.77%	0.05 37.47%	0.03 42.78%	0.08 148.57%	0.05 35.76%	0.05 7.68%
return on equity	0.10 -	0.11 12.28%	0.07 34.55%	0.09 25.38%	0.09 2.40%	0.12 25.08%	0.11 9.64%	0.07 36.49%	0.18 161.99%	0.06 64.46%	0.14 116.39%
total debt to capitalization	0.38 -	0.43 12.61%	0.44 4.28%	0.43 3.57%	0.41 5.24%	0.42 2.59%	0.49 17.93%	0.55 11.00%	0.56 2.25%	0.56 1.10%	0.52 8.44%

NASDAQ:ARCC

Ares Capital Corporation

Last Close

21.15

17/05 20:00

Market Cap

11.71B

Beta: 1.06

Volume Today

4.35M

Avg: 3.47M

PE Ratio

8.75

PFCF: 22.31

Dividend Yield

9.61%

Payout:79.11%