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
DateValue
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