Ares Capital Corporation

ARCCNASDAQFinancial Services● Active

$18.78

$-0.02(-0.08%)

Market Cap$13.5B

P/E Ratio—

52W High$23.42

52W Low$17.4

Avg Volume6.6M

Open$18.75

Beta0.62

Free Cash Flow Financials Revenue

Ares Capital Corporation (ARCC) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ARCC · free cash flow · updated Jun 8, 2026

Core FCF metrics

ARCC · FCF · TTM · margin & CAGR

Free cash flow was $1.14B for FY2025 (fiscal year ending 2025-12-31), down 10.9% year-over-year The FCF margin was 36.3%. Five-year CAGR stands at +9.2%.

FY2025 Free Cash Flow$1.14B▼ -10.9% YoY

Trailing 12M (TTM)$1.07Btrailing 4 quarters sum

FCF Margin36.3%$1.14B ÷ revenue

3-Year CAGR+15.3%FY2022 → FY2025

5-Year CAGR+9.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ARCC · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.14B(0M)$1.14B▼ 10.9%36.3%

FY2024$1.28B(0M)$1.28B▲ +28.2%54.2%

FY2023$1.00B(0M)$1.00B▲ +34.0%46.2%

FY2022$746.0M(0M)$746.0M▼ 20.2%62.4%

FY2021$935.0M(0M)$935.0M▲ +27.4%45.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ARCC · P/FCF · FCF yield · FCF per share

Ares Capital Corporation (ARCC) trades at a FCF yield of 8.01% and a price-to-free-cash-flow ratio of 12.2x. FCF per share stands at $1.54, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.01%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.54

TTM FCF ÷ Shares Outstanding

Price / FCF

x12.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ARCC · cash flow statement · operating / investing / financing

For FY2025, Ares Capital Corporation generated $1.14B in operating cash flow and spent 0M in capital expenditures, yielding $1.14B in free cash flow.

Operating Activities

+$1.14B

Cash from core business operations

2025-12-31

Investing Activities

−$2.86B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$1.78B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.14B) − |CapEx| (0M) = FCF ($1.14B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

ARCC vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Ares Capital CorporationYOU

ARCC

$1.14B-10.9%36.3%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Ares Capital Corporation (ARCC) reported free cash flow of $1.14B for FY2025 (fiscal year ending 2025-12-31), down 10.9% year-over-year. The FCF margin was 36.3%.

Based on available data, Ares Capital Corporation has maintained positive free cash flow for at least 8 fiscal year(s). FCF peaked at $1.28B in FY2024. The 5-year CAGR stands at +9.2%.

Ares Capital Corporation's FCF yield is 8.01% and price-to-FCF ratio is 12.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ARCC free cash flow · 8 questions

Ares Capital Corporation free cash flow was $1.14B for FY2025, down 10.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.07B.

ARCC free cash flowARCC FCFARCC FCF 2025ARCC free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Ares Capital Corporation · Ares Capital Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026