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Ares Capital ARCC Investment, Tax Basis, Unrealized Gain (Loss)

Discontinued — last reported Q4 '25

Investment, Tax Basis, Unrealized Gain (Loss) at other companies

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Segments

By segment

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Consolidated IHAM Vehicles-$292M-104%

Other financials

Income statement

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Net income$92.0M-61.8%
EPS (diluted)$0.13-63.9%

Balance sheet

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Cash & equivalents$505.0M-31.9%
Total debt$15.8B+13.8%
Total equity$14.1B+2.9%
Total assets$30.7B+8.3%

Cash flow

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Operating cash flow$184.0M+162%

Valuation

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Market cap$13.87B-12.4%
Enterprise value$29.22B-0.2%
P/E12.1×+0.4×

Returns & leverage

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Return on equity8.3%-2.0pp
Debt / equity1.1×+0.1×

Where this comes from

Reported directly by Ares Capital in its filing.

Tagged under the XBRL concept us-gaap:TaxBasisOfInvestmentsUnrealizedAppreciationDepreciationNet.

The source filing: Ares Capital’s 10-K, filed February 4, 2026.

Filed
Feb 4, 2026, 6:18 AM EST
Fiscal year
FY2025
Accession
0001287750-26-000006

(17) As of December 31, 2025, the estimated net unrealized gain for federal tax purposes was approximately $300 million based on a tax cost basis of $29.2 billion. As of December 31, 2025, the estimated aggregate gross unrealized gain for federal income tax purposes was approximately $1.3 billion and the estimated aggregate gross unrealized loss for federal income tax purposes was approximately $1.0 billion.

Item 1. Financial Statements

FAQ

What is Ares Capital's investment, tax basis, unrealized gain (loss)?
Ares Capital (ARCC) reported investment, tax basis, unrealized gain (loss) of $300M in Q4 2025.
How has Ares Capital's investment, tax basis, unrealized gain (loss) changed year-over-year?
Ares Capital's investment, tax basis, unrealized gain (loss) increased by 250.0% year-over-year, from -$200M to $300M.
What is the long-term trend for Ares Capital's investment, tax basis, unrealized gain (loss)?
Over 4 years (2021 to 2025), Ares Capital's investment, tax basis, unrealized gain (loss) has grown at a 31.6% compound annual growth rate (CAGR), from $100M to $300M.
What does investment, tax basis, unrealized gain (loss) mean?
The net difference between the fair value and the tax cost basis of the investment portfolio. This metric is critical for understanding the potential tax liabilities associated with future investment exits.

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