Revenue: As of FY2025 Q3, the actual value is USD 782 M, beating the estimate of USD 766.57 M.EPS: As of FY2025 Q3, the actual value is USD 0.57, beating the estimate of USD 0.5077.EBIT: As of FY2025 Q3, the actual value is USD -3 M.<h3>Operating Results</h3><ul><li>Net Investment Income: Ares Capital Corporation reported a net investment income of $338 million for Q3 2025, compared to $361 million in Q3 2024.</li><li>Net Realized Gains (Losses): The company recorded net realized gains of $162 million in Q3 2025, a significant increase from net realized losses of $24 million in Q3 2024.</li><li>Net Unrealized Gains (Losses): Ares Capital reported net unrealized losses of $96 million in Q3 2025, compared to net unrealized gains of $57 million in Q3 2024.</li><li>GAAP Net Income: The GAAP net income for Q3 2025 was $404 million, up from $394 million in Q3 2024.</li></ul><h3>Portfolio and Investment Activity</h3><ul><li>Gross Commitments: The company made gross commitments of $3.924 billion in Q3 2025, slightly up from $3.919 billion in Q3 2024.</li><li>Exits of Commitments: Ares Capital exited commitments worth $2.625 billion in Q3 2025, compared to $2.598 billion in Q3 2024.</li><li>Portfolio Investments at Fair Value: As of September 30, 2025, portfolio investments at fair value were $28.693 billion, up from $26.720 billion as of December 31, 2024.</li></ul><h3>Liquidity and Capital Resources</h3><ul><li>Cash and Cash Equivalents: The company had $1.0 billion in cash and cash equivalents as of September 30, 2025.</li><li>Total Debt: Ares Capital had a total aggregate principal amount of debt outstanding of $15.6 billion as of September 30, 2025.</li></ul><h3>Outlook / Guidance</h3><ul><li>Ares Capital Corporation anticipates benefiting from an improving market environment due to its origination strength and rigorous credit standards. The company aims to build upon its track record of leading investment performance.</li><li>The company has enhanced its balance sheet by raising over $1 billion of new debt capital, which supports its strategy of paying stable or increased regular quarterly dividends.</li></ul>

Ares Capital | 8-K: FY2025 Q3 Revenue Beats Estimate at USD 782 M