Ares Capital (ARCC) Operating Expenses (2021 - 2026)
Ares Capital's (ARCC) quarterly Operating Expenses came in at $401.0 million in Q2 2026, up 1.52% year-over-year from $395.0 million in Q2 2025, and up 11.7% quarter-over-quarter from $359.0 million in Q1 2026.
Analysis
Ares Capital (ARCC) Operating Expenses (2021 - 2026) Analysis & Trends
Ares Capital (ARCC) has reported Operating Expenses for 6 consecutive years, with $401.0 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses rose 1.52% year-over-year to $401.0 million in Q2 2026; TTM through Jun 2026 was $1.6 billion, a 3.56% increase from a year earlier, with the FY2025 full-year figure at $1.6 billion, up 5.28% from the prior year.
- Operating Expenses was $401.0 million for Q2 2026 at Ares Capital, up from $359.0 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 $341.4 million and a median of $359.5 million in 2025 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses declined 7.11% in 2022 and surged 54.47% in 2023, its largest moves.
- Over 5 years, Operating Expenses stood at $273.0 million in 2022, then advanced by 29.3% to $353.0 million in 2023, then increased by 9.63% to $387.0 million in 2024, then gained by 4.91% to $406.0 million in 2025, then fell by 1.23% to $401.0 million in 2026.
- The last three Operating Expenses figures came in at $401.0 million (Q2 2026), $359.0 million (Q1 2026), and $406.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.39 Bn | 14.01 Bn | - | 401.00 Mn |
| 2 | Blackstone Secured Lending Fund | 5.76 Bn | 5.49 Bn | - | 142.27 Mn |
| 3 | Blue Owl Capital | 5.62 Bn | 5.38 Bn | - | 224.46 Mn |
| 4 | Main Street Capital | 5.39 Bn | 5.33 Bn | - | 55.78 Mn |
| 5 | Blue Owl Technology Finance | 5.20 Bn | 4.99 Bn | - | 198.97 Mn |
| 6 | Hercules Capital | 4.68 Bn | 4.64 Bn | - | 61.10 Mn |
| 7 | FS KKR Capital | 3.48 Bn | 3.37 Bn | - | 179.00 Mn |
| 8 | Golub Capital Bdc | 3.38 Bn | 3.34 Bn | - | 102.51 Mn |
| 9 | PennantPark Floating Rate Capital | 2.47 Bn | -134.94 Mn | - | 40.19 Mn |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.02 Bn | - | 35.52 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 401.00 Mn |
| 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 |