Ares Capital (ARCC) Operating Expenses (2021 - 2026)
Ares Capital (ARCC) reported Operating Expenses of $359.0 million for Q1 2026, little changed year-over-year from $360.0 million in Q1 2025, and down 11.58% quarter-over-quarter from $406.0 million in Q4 2025.
Ares Capital (ARCC) Operating Expenses (2021 - 2026) Analysis & Trends
Ares Capital (ARCC) has 6 years of Operating Expenses data on file, last reported at $359.0 million in Q1 2026.
- Operating Expenses for Q1 2026 came in at $359.0 million, changed 0.28% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.6 billion (up 5.85% YoY), and the FY2025 annual result was $1.6 billion, up 5.28% from the prior year.
- Operating Expenses slipped to $359.0 million in Q1 2026 per ARCC's latest filing, from $406.0 million in the prior quarter.
- Over five years, Operating Expenses peaked at $433.0 million in Q3 2025 and troughed at $212.0 million in Q2 2022.
- A 5-year average of $337.9 million and a median of $359.0 million in 2026 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses fell 7.11% in 2022, then soared 54.47% in 2023.
- A 5-year view of Operating Expenses shows it stood at $273.0 million in 2022, then climbed by 29.3% to $353.0 million in 2023, then rose by 9.63% to $387.0 million in 2024, then advanced by 4.91% to $406.0 million in 2025, then slipped by 11.58% to $359.0 million in 2026.
- Business Quant data shows ARCC's Operating Expenses at $359.0 million in Q1 2026, $406.0 million in Q4 2025, and $433.0 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | 3.88 Bn |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 2.26 Bn |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 3.87 Bn |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 4.68 Bn |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 3.12 Bn |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 1.17 Bn |
| 10 | Ares Capital | 12.95 Bn | 10.20 Bn | - | 359.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 359.00 Mn |
| Dec 31, 2025 | 406.00 Mn |
| Sep 30, 2025 | 433.00 Mn |
| Jun 30, 2025 | 395.00 Mn |
| Mar 31, 2025 | 360.00 Mn |
| Dec 31, 2024 | 387.00 Mn |
| Sep 30, 2024 | 402.00 Mn |
| Jun 30, 2024 | 356.00 Mn |
| Mar 31, 2024 | 369.00 Mn |
| Dec 31, 2023 | 353.00 Mn |
| Sep 30, 2023 | 363.00 Mn |
| Jun 30, 2023 | 314.00 Mn |
| Mar 31, 2023 | 298.00 Mn |
| Dec 31, 2022 | 273.00 Mn |
| Sep 30, 2022 | 235.00 Mn |
| Jun 30, 2022 | 212.00 Mn |
| Mar 31, 2022 | 229.00 Mn |
| Dec 31, 2021 | 279.00 Mn |
| Sep 30, 2021 | 253.00 Mn |