Ares Capital annual net debt
2021
2022
2023
2024
2025
Ares Capital Net Debt Growth & History (ARCC)
Ares Capital's net debt was $15.35B for fiscal 2025.
View full Ares Capital company overviewAres Capital annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $15.35B | $2.26B | +17.27% |
| 2024 | 2024-12-31 | $13.09B | $1.73B | +15.19% |
| 2023 | 2023-12-31 | $11.37B | −$572.0M | −4.79% |
| 2022 | 2022-12-31 | $11.94B | $1.25B | +11.66% |
| 2021 | 2021-12-31 | $10.69B | — | — |
Ares Capital quarterly net debt
Q4.21
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $15.39B | $1.73B | +12.65% |
| Q1 2026 | 2026-03-31 | $15.34B | $2.07B | +15.58% |
| Q4 2025 | 2025-12-31 | $15.35B | $2.26B | +17.27% |
| Q3 2025 | 2025-09-30 | $14.57B | $1.54B | +11.84% |
| Q2 2025 | 2025-06-30 | $13.66B | $1.29B | +10.42% |
| Q1 2025 | 2025-03-31 | $13.28B | $2.07B | +18.52% |
| Q4 2024 | 2024-12-31 | $13.09B | $1.73B | +15.19% |
| Q3 2024 | 2024-09-30 | $13.03B | $2.02B | +18.32% |
| Q2 2024 | 2024-06-30 | $12.37B | $1.39B | +12.65% |
| Q1 2024 | 2024-03-31 | $11.20B | $368.0M | +3.40% |
| Q4 2023 | 2023-12-31 | $11.37B | −$572.0M | −4.79% |
| Q3 2023 | 2023-09-30 | $11.01B | −$582.0M | −5.02% |
| Q2 2023 | 2023-06-30 | $10.98B | — | — |
| Q1 2023 | 2023-03-31 | $10.83B | — | — |
| Q4 2022 | 2022-12-31 | $11.94B | $1.25B | +11.66% |
| Q3 2022 | 2022-09-30 | $11.59B | — | — |
| Q4 2021 | 2021-12-31 | $10.69B | — | — |
Ares Capital net debt trends
Between the periods ended 2021-12-31 and 2025-12-31, Ares Capital's net debt increased from $10.69B to $15.35B, a change of $4.66B. The latest reported quarter, Q2 2026, shows $15.39B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Ares Capital source filings ↗