Question 1

What is Ares Capital's EV/EBITDA ratio?

Accepted Answer

Ares Capital (ARCC) EV/EBITDA ratio is 14.1× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Ares Capital?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Ares Capital specifically, the relevant sector benchmark is the current sector median of 9.3×.

Question 5

Is Ares Capital's EV/EBITDA ratio high or low?

Accepted Answer

Ares Capital's EV/EBITDA ratio of 14.1× is below its own 5-year average of 18.2× and above the sector median of 9.3×. That places the current reading at the 28th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Ares Capital's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Ares Capital (ARCC) EV/EBITDA ratio has ranged from a low of -625.6× in 2015 to a high of 224.0× in 2020. The 5-year average is 18.2× and the 5-year median is 17.1×.

Question 7

What was Ares Capital's EV/EBITDA ratio in 2025?

Accepted Answer

Ares Capital (ARCC) EV/EBITDA ratio at the end of 2025 was 18.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Ares Capital's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$14.14B	$1.59B	18.4×	+1.0×	Dec 31, 2025
2024	$14.34B	$1.58B	17.4×	+2.8×	Dec 31, 2024
2023	$11.10B	$1.54B	14.6×	-18.3×	Dec 31, 2023
2022	$9.49B	$655.00M	32.9×	+20.0×	Dec 31, 2022
2021	$9.81B	$1.60B	12.9×	-17.8×	Dec 31, 2021
2020	$7.11B	$503.00M	30.7×	+12.3×	Dec 31, 2020
2019	$8.00B	$809.00M	18.5×	+5.3×	Dec 31, 2019
2018	$6.64B	$877.00M	13.2×	-3.2×	Dec 31, 2018
2017	$6.68B	$686.00M	16.4×	-1.4×	Dec 31, 2017
2016	$5.18B	$496.05M	17.8×	+643.4×	Dec 31, 2016
2015	$4.46B	$397.16M	-625.6×	-639.7×	Dec 31, 2015
2014	$4.89B	$610.08M	14.1×	+296.0×	Dec 31, 2014
2013	$4.74B	$503.43M	-281.9×	-315.1×	Dec 31, 2013
2012	$4.03B	$178.91M	33.3×	—	Dec 31, 2012
2011	$3.17B	$0.00	—	—	Dec 31, 2011
2010	$3.14B	$0.00	—	—	Dec 31, 2010
2009	$1.27B	−$672.00K	—	—	Dec 31, 2009
2008	$567.59M	$0.00	—	—	Dec 31, 2008
2007	$1.06B	$57.73M	-0.9×	—	Dec 31, 2007
2006	$1.01B	$0.00	—	—	Dec 31, 2006
2005	$610.48M	$8.50M	72.0×	—	Dec 31, 2005


Wells Fargo (WFC)	2.9×
Farmers & Merchants Bancorp (FMCB)	2.8×
JPMorgan Chase (JPM)	2.3×
AXIS Capital Holdings (AXS)	2.2×
American International Group (AIG)	1.9×
Ally Financial (ALLY)	1.7×
United Bankshares (UBSI)	1.6×
Commerce Bancshares (CBSH)	0.7×
W. R. Berkley (WRB)	-0.0×
Morgan Stanley (MS)	-0.3×
M&T Bank (MTB)	-0.6×
Capital One Financial (COF)	-0.6×
Everest Re Group (EG)	-0.7×
Travelers Companies (TRV)	-2.5×
Globe Life (GL-PD)	-2.6×
RenaissanceRe Holdings (RNR)	-3.5×
PNC Financial Services Group (PNC)	-3.8×
BancFirst (BANF)	-5.5×
U.S. Bancorp (USB)	-5.5×
KeyCorp (KEY)	-9.2×
Bank of New York Mellon (BNY)	-13.3×
Bank of New York Mellon (BK)	-13.3×
Ames National (ATLO)	-14.6×
State Street (STT)	-17.7×
MetLife (MET)	-46.3×

EV/EBITDA for Ares Capital (ARCC)

EV/EBITDA daily chart for Ares Capital (ARCC)

Historical EV/EBITDA for Ares Capital (ARCC) from 2005 to 2025

About EV/EBITDA at Ares Capital (ARCC)

Ares Capital EV/EBITDA by Year

Ares Capital EV/EBITDA 2025: 18.4×

Ares Capital EV/EBITDA 2024: 17.4×

Ares Capital EV/EBITDA 2023: 14.6×

Ares Capital EV/EBITDA 2022: 32.9×

Ares Capital EV/EBITDA 2021: 12.9×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Ares Capital (ARCC) Key Financials

EV/EBITDA daily chart for Ares Capital (ARCC)

Historical EV/EBITDA for Ares Capital (ARCC) from 2005 to 2025

About EV/EBITDA at Ares Capital (ARCC)

Ares Capital EV/EBITDA by Year

Ares Capital EV/EBITDA 2025: 18.4×

Ares Capital EV/EBITDA 2024: 17.4×

Ares Capital EV/EBITDA 2023: 14.6×

Ares Capital EV/EBITDA 2022: 32.9×

Ares Capital EV/EBITDA 2021: 12.9×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Ares Capital's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Ares Capital?

+Is Ares Capital's EV/EBITDA ratio high or low?

+What is Ares Capital's historical EV/EBITDA ratio range?

+What was Ares Capital's EV/EBITDA ratio in 2025?

+Why does Ares Capital's EV/EBITDA ratio change over time?

Ares Capital (ARCC) Key Financials