Ares Dynamic Credit Allocation Fund, Inc. (ARDC)
Ares Dynamic Credit Allocation Fund, Inc. operates as a closed-end mutual fund dedicated to fixed-income investments, initially launched by Ares Management LLC. Its investment management responsibilities are handled by Ares Capital Management II LLC. The fund strategically deploys capital across European fixed-income markets. Its holdings primarily consist of diverse debt instruments, including senior loans predominantly issued to companies with sub-investment grade credit ratings, high-yield corporate bonds also rated below investment grade, debt securities originating from Collateralized Loan Obligations (CLOs), and other various fixed-income products. The creation of its portfolio is driven by an in-depth evaluation of the global macroeconomic landscape, prevailing financial market dynamics, and specific company research and analysis. This fund was established on November 27, 2012, and is headquartered in the United States.
Industry: Asset Management
Ares Dynamic Credit Allocation Fund, Inc.
NYSE:ARDCFinancial Services · Asset Management
+2.69%$11.44
AH Close$11.44+0.00%vs close
AH Close$11.44+0.00%vs close
Mkt Cap$274.17M
Float23.96M
O/S23.97M
Inst Own34.6%
SI0.2%
Div Yield11.80%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$45.37M
Net Income$22.38M
Total Assets$584.07M
Free Cash Flow$21.55M
Debt & Equity
Debt 39%
Equity 61%
Total Debt$222.83M
Total Equity$343.56M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ARDC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$584.07M
Liabilities$240.52M
Accounts Receivable$18.28M
Accounts Payable$16.19M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 |
| Revenue | $45.37M | $41.2M | $32.26M | $24.09M | $45.24M | $5.73M | $19.27M | $20.56M | $53.21M | $6.96M |
| YoY Growth | 10.1% | 27.7% | 33.9% | -46.7% | 689.7% | -70.3% | -6.3% | -61.4% | 664.7% | - |
| Cost of Revenue | $6.86M | $5.42M | $7.73M | $6.45M | $6.85M | $6.25M | $6.75M | $7.16M | $7.18M | $7.21M |
| Gross Profit | $38.51M | $35.77M | $59.7M | $17.64M | $38.39M | -$523K | $12.51M | $13.4M | $46.03M | -$256K |
| Gross Margin | 84.9% | 86.8% | 185.1% | 73.2% | 84.9% | -9.1% | 65.0% | 65.2% | 86.5% | -3.7% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $2.3M | $2.83M | $2.41M | $2.04M | $2M | $417K | $1.95M | $2.11M | $0 |
| Other | $5.03M | $915K | $524K | $272K | $592K | $522K | $109K | $537K | $584K | $31.1M |
| Total Operating Expenses | $5.03M | $3.22M | $3.35M | $2.68M | $2.63M | $2.52M | $526K | $2.48M | $2.7M | $31.1M |
| Operating Income (EBIT) | $33.47M | $37.98M | $64.91M | -$41.72M | $39.39M | $11.11M | $18.74M | $22.84M | $53.78M | $30.84M |
| Operating Margin | 73.8% | 92.2% | 201.2% | -173.2% | 87.1% | 193.9% | 97.3% | 111.1% | 101.1% | 443.2% |
| Interest Expense | $9.46M | $10.27M | $7.73M | $5.7M | $2.8M | $2.33M | $708K | $4.76M | $3.27M | $0 |
| Interest Income | $46.67M | $50.26M | $50.44M | $43.91M | $39.55M | $36.86M | $6.07M | $44.07M | $42.38M | $0 |
| Other Income (Expense) | -$10.38M | -$9.82M | -$8.03M | -$4.11M | -$2.01M | -$3.54M | $0 | $6.59M | $2.25M | -$581K |
| Income Before Tax (EBT) | $23.1M | $38.9M | $56.88M | -$45.83M | $37.38M | $7.57M | $18.74M | $18.08M | $50.51M | $30.26M |
| Income Tax Expense | $720K | $915K | $524K | $272K | $250K | $190K | $0 | -$161K | $75K | $0 |
| Net Income | $22.38M | $37.98M | $56.35M | -$46.1M | $37.13M | $7.38M | $18.74M | $18.08M | $50.51M | $30.26M |
| Net Income Margin | 49.3% | 92.2% | 174.7% | -191.4% | 82.1% | 128.8% | 97.3% | 87.9% | 94.9% | 434.9% |
| Supplementary Data | ||||||||||
| EPS | 0.93 | 1.61 | 2.46 | -2.01 | 1.62 | 0.32 | 0.20 | 0.79 | 2.20 | 1.32 |
| Diluted EPS | 0.93 | 1.61 | 2.46 | -2.01 | 1.62 | 0.32 | 0.20 | 0.79 | 2.20 | 1.32 |
| Weighted Average OS | 23.97M | 23.54M | 22.91M | 22.91M | 22.91M | 22.91M | 22.91M | 22.88M | 22.96M | 22.99M |
| EBITDA | $32.56M | $49.16M | $64.91M | -$41.49M | $39.63M | $11.31M | $31.61M | $17.19M | $53.78M | $30.84M |
| EBITDA Margin | 71.8% | 119.3% | 201.2% | -172.2% | 87.6% | 197.5% | 164.1% | 83.6% | 101.1% | 443.2% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $7.51M | $5.4M | $9.41M | $7.2M | $2.78M | $8.81M | $4.25M | $6.46M | $6.13M | $8.65M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $7.51M | $5.4M | $9.41M | $7.2M | $2.78M | $8.81M | $4.25M | $6.46M | $6.13M | $8.65M |
| Accounts Receivable | $18.28M | $17.45M | $7.68M | $13.08M | $19.54M | $17.66M | $15.22M | $12.15M | $16.47M | $12.57M |
| Inventory | $0 | $0 | $0 | $0 | $25.83M | $0 | $0 | $19.2M | $22.76M | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | -$25.83M | $0 | $0 | -$19.2M | -$22.76M | -$21.22M |
| Total Current Assets | $25.8M | $22.85M | $17.09M | $20.29M | $22.32M | $26.46M | $19.48M | $18.6M | $22.61M | $0 |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $557.51M | $553.71M | $507.48M | $478.27M | $610.09M | $0 | $0 | $572.09M | $585.86M | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $766K | $554.36M | $28K | $478.4M | $626.22M | $529.66M | $553.23M | -$572.09M | -$585.86M | $0 |
| Total Long-Term Assets | $558.28M | $554.36M | $507.5M | $478.4M | $610.09M | $529.66M | $553.23M | $572.09M | $585.86M | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $103K | $0 | $0 | $0 | $67K | $594.09M |
| Total Assets | $584.07M | $577.21M | $524.59M | $498.68M | $632.51M | $556.12M | $572.7M | $590.7M | $608.54M | $594.09M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $16.19M | $22.17M | $27.56M | $22.65M | $31.87M | $22.59M | $18.14M | $22.72M | $23.54M | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $170.16M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$146.62M | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | -$1.72M | $0 | $0 | -$23.28M | -$24.23M | $0 |
| Total Current Liabilities | $16.62M | $22.17M | $28.31M | $22.65M | $31.87M | $22.59M | $18.14M | $23.54M | $23.54M | $0 |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $123.19M | $106.93M | $162.7M | $68.76M | $118.87M | $162.59M | $163.32M | $165.2M | $0 | $168.03M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $100.7M | $101.08M | $0 | $100.46M | $0 | $964K | $1.14M | -$165.2M | $0 | $34.28M |
| Total Long-Term Liabilities | $223.89M | $208.01M | $162.7M | $169.22M | $118.87M | $163.56M | $164.46M | $165.2M | $170.16M | $202.3M |
| Other Liabilities | $0 | $0 | $1.47M | $0 | $101.47M | $0 | $0 | $0 | $1.45M | $0 |
| Total Liabilities | $240.52M | $230.18M | $192.48M | $191.87M | $252.21M | $186.15M | $182.61M | $188.74M | $195.15M | $202.3M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $453.58M | $448.03M | $439.77M | $440.54M | $441.05M | $441.38M | $444.1M | $444.86M | $444.91M | $445.07M |
| Retained Earnings | $17.38M | -$101M | -$107.66M | -$133.72M | -$60.75M | -$71.4M | -$54.01M | -$42.91M | $1.97M | -$223K |
| Comprehensive Income & Other | -$127.41M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.97M | -$53.06M |
| Other Stockholders' Equity | -$127.41M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$33.5M | -$53.06M |
| Total Equity | $343.56M | $347.03M | $332.12M | $306.81M | $380.3M | $369.98M | $390.1M | $401.96M | $413.39M | $391.79M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $584.07M | $577.21M | $524.59M | $498.68M | $632.51M | $556.12M | $572.7M | $590.7M | $608.54M | $594.09M |
| Supplementary Data | ||||||||||
| Total Debt | $222.83M | $106.93M | $162.7M | $68.76M | $118.87M | $162.59M | $163.32M | $165.2M | $170.16M | $168.03M |
| Net Debt | $215.32M | $101.53M | $153.29M | $61.56M | $116.09M | $153.79M | $159.07M | $158.75M | $164.03M | $159.38M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 |
| Operating Activities | ||||||||||
| Net Income | $22.38M | $37.98M | $56.35M | -$46.1M | $37.13M | $7.38M | $18.74M | $18.08M | $50.51M | $30.26M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | -$1.03M | -$9.57M | $5.4M | $6.45M | -$1.88M | -$2.43M | -$2.6M | $4.33M | -$3.9M | $1.01M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $4.19M | $0 | $0 | $0 |
| Accounts Payable | -$5.4M | -$4.58M | $3.33M | -$11.38M | $10.58M | $4.59M | -$3.38M | -$796K | -$10.21M | -$21K |
| Other Working Capital | -$871K | -$2M | $2.28M | $881K | $569K | -$281K | $120K | -$655K | $972K | $81K |
| Total Working Capital Change | -$7.3M | -$16.14M | $11.02M | -$4.04M | $9.27M | $1.88M | -$1.67M | $2.87M | -$13.14M | $1.07M |
| Other Non-Cash Items | $6.48M | -$46.36M | -$21.12M | $125.67M | -$78.16M | $24.64M | -$6.11M | $13.57M | -$12.44M | -$2.32M |
| Net Cash from Operating | $21.55M | -$24.53M | $46.25M | $75.53M | -$31.75M | $33.9M | $10.96M | $34.52M | $24.93M | $29.99M |
| Investing Activities | ||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$311.22M | -$374.24M | -$257.13M | -$266.04M | -$506.39M | -$610.6M | -$441.05M | -$488.75M | -$583.92M | -$551.28M |
| Sales of Investments | $302.25M | $333.93M | $249.67M | $315.33M | $435.6M | $614.06M | $434.24M | $487.68M | $591.11M | $561.87M |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$8.97M | -$40.31M | -$7.46M | $49.29M | -$70.79M | $3.47M | -$6.81M | -$1.07M | $7.19M | $10.59M |
| Financing Activities | ||||||||||
| Debt Repaid | -$15.34M | -$43.92M | $5.53M | $47.24M | $42.81M | $2.03M | $6.19M | $4.03M | -$2.68M | $957K |
| Common Stock Issuance | $6.23M | $8.44M | $0 | $0 | $0 | $0 | $673K | $0 | $0 | -$6.36M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$673K | $0 | -$437K | $0 |
| Dividends Paid | -$32.05M | -$31.84M | -$31.05M | -$27.38M | -$26.81M | -$27.5M | -$4.93M | -$29.51M | -$28.48M | -$30.15M |
| Other Financing Activities | $0 | $0 | $0 | $0 | -$1.14M | $0 | $25.31M | $0 | $0 | $0 |
| Net Cash from Financing | -$10.47M | $20.52M | -$36.58M | -$74.62M | $29.24M | -$29.34M | -$11.12M | -$33.75M | -$26.24M | -$37.47M |
| Forex Effect | $0 | $0 | $0 | -$49.29M | $70.79M | -$3.47M | $6.81M | $0 | -$1.05M | $0 |
| Net Change in Cash | $2.11M | -$4.01M | $2.21M | $906K | -$2.51M | $4.56M | -$159K | $767K | -$2.36M | $3.11M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $21.55M | -$24.53M | $46.25M | $75.53M | -$31.75M | $33.9M | $10.96M | $34.52M | $24.93M | $29.99M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $3 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $21.55M | -$24.53M | $46.25M | $75.53M | -$31.75M | $33.9M | $10.96M | $34.52M | $24.93M | $29.99M |
| Cash at Beginning | $5.4M | $9.41M | $7.2M | $6.3M | $8.81M | $4.25M | $4.41M | $6.28M | $8.65M | $5.54M |
| Cash at End | $7.51M | $5.4M | $9.41M | $7.2M | $6.3M | $8.81M | $4.25M | $7.05M | $6.28M | $8.65M |