NASDAQ : CG

The Carlyle Group Inc. — Financial statements

Financials · Asset Management · United States

Last price 40.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 14.32B

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Financial statements

The Carlyle Group Inc. (CG) reported revenue of 2.80B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Interest and Dividend Income937.70M851.00M849.80M782.20M446.90M343.90M
Total Interest Expense814.60M748.20M685.90M542.90M322.00M291.80M
Net Interest Income123.10M102.80M163.90M239.30M124.90M52.10M
Trading & Principal Transactions260.70M119.20M238.70M133.40M570.50M637.30M
Asset Management Fee2.69B2.59B2.32B2.14B2.09B1.72B
Other Revenue-275.60M1.22B2.02B-88.60M1.33B6.08B
Revenue2.80B4.03B4.74B2.42B4.12B8.49B
Salaries & Employee Benefits927.40M895.20M875.50M1.02B1.05B908.00M
Cost of Services Provided839.70M1.72B2.03B1.76B1.30B3.39B
Total Operating Expenses2.18B2.99B3.37B3.03B2.50B4.46B
Operating Income615.50M1.04B1.37B-607.60M1.61B4.03B
Other Non-Operating Income (Expenses)100.00K200.00K300.00K-200.00K-1.00M-1.50M
EBT Excluding Unusual Items615.60M1.04B1.37B-607.80M1.61B4.03B
Gain (Loss) on Sale of Investments26.80M117.90M24.00M6.90M-41.50M2.50M
Pretax Income642.40M1.16B1.39B-600.90M1.57B4.03B
Income Tax Expense101.50M214.50M302.60M-104.20M287.80M982.30M
Earnings From Continuing Ops.540.90M944.70M1.09B-496.70M1.28B3.05B
Minority Interest in Earnings-177.00M-136.00M-70.70M-111.70M-59.70M-70.50M
Net Income363.90M808.70M1.02B-608.40M1.23B2.97B
Net Income to Common363.90M808.70M1.02B-608.40M1.23B2.97B
Shares Outstanding (Basic)358.96M359.68M358.58M361.40M361.28M355.24M
Shares Outstanding (Diluted)371.63M370.91M368.02M361.40M365.71M362.57M
EPS (Basic)1.012.252.85-1.683.398.37
EPS (Diluted)0.972.182.77-1.683.358.20
Free Cash Flow-4.12B-3.37B-837.20M138.30M-419.90M1.75B
Free Cash Flow Per Share-11.09-9.10-2.270.38-1.154.83
Dividend Per Share1.401.401.401.401.301.00
Operating Margin22.01%25.82%28.89%-25.10%39.23%47.42%
Profit Margin13.01%20.06%21.53%-25.13%29.76%35.04%
Free Cash Flow Margin-147.42%-83.71%-17.66%5.71%-10.20%20.61%
Effective Tax Rate15.80%18.50%21.71%18.30%24.39%
Revenue as Reported3.61B4.78B5.43B2.96B4.44B8.78B

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents2.04B3.21B2.10B1.79B1.57B2.62B
Trading Asset Securities20.00M
Accounts Receivable6.99B7.94B7.40B6.48B7.36B8.49B
Other Receivables340.60M240.40M283.30M185.20M143.40M164.10M
Property, Plant & Equipment568.70M556.80M526.70M493.70M476.90M505.00M
Goodwill104.60M103.60M104.00M103.90M13.30M
Other Intangible Assets440.90M402.50M530.50M662.10M793.90M21.60M
Investments in Debt & Equity Securities13.87B13.17B8.37B8.01B7.62B7.23B
Restricted Cash1.50M1.80M800.00K5.60M
Other Current Assets750.60M477.00M417.80M335.20M290.70M
Long-Term Deferred Tax Assets30.20M32.20M27.60M16.50M15.80M14.50M
Other Long-Term Assets3.16B2.98B3.35B3.09B3.00B2.19B
Total Assets28.20B29.12B23.10B21.18B21.40B21.25B
Accounts Payable513.00M360.90M305.60M244.60M290.20M256.00M
Accrued Expenses5.01B5.85B5.45B4.91B4.23B4.92B
Current Portion of Leases74.60M
Other Current Liabilities76.50M6.30M
Long-Term Debt13.80B13.42B9.01B8.77B8.18B7.96B
Long-Term Leases450.50M395.60M488.60M488.10M502.90M537.80M
Long-Term Unearned Revenue135.50M129.20M138.70M140.30M126.40M120.80M
Long-Term Deferred Tax Liabilities16.00M106.30M137.00M45.30M402.70M487.10M
Other Long-Term Liabilities978.20M1.58B1.19B736.60M722.00M1.13B
Total Liabilities20.98B22.06B16.76B15.39B14.58B15.54B
Common Stock3.50M3.60M3.60M3.60M3.60M3.60M
Additional Paid-In Capital4.56B4.29B3.89B3.40B3.14B2.72B
Retained Earnings873.80M1.64B2.04B2.08B3.40B2.81B
Comprehensive Income & Other-192.60M-170.20M-329.80M-297.30M-322.20M-247.50M
Total Common Equity5.24B5.76B5.61B5.19B6.22B5.28B
Minority Interest1.97B1.30B740.70M593.10M600.30M427.20M
Shareholders' Equity7.21B7.06B6.35B5.78B6.82B5.71B
Total Liabilities & Equity28.20B29.12B23.10B21.18B21.40B21.25B
Total Debt14.25B13.89B9.50B9.26B8.68B8.50B
Net Cash (Debt)-12.21B-10.69B-7.40B-7.47B-7.09B-5.88B
Net Cash Per Share-32.86-28.82-20.11-20.67-19.39-16.22
Filing Date Shares Outstanding356.33M361.17M361.20M362.11M364.22M356.32M
Total Common Shares Outstanding353.39M357.37M357.18M361.33M362.30M355.37M
Working Capital4.52B5.44B4.39B3.59B4.75B6.00B
Book Value Per Share14.8316.1215.7014.3717.1714.86
Tangible Book Value4.80B5.25B4.97B4.43B5.32B5.24B
Tangible Book Value Per Share13.5914.7013.9212.2514.6914.76

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income363.90M808.70M1.02B-608.40M1.23B2.97B
Depreciation & Amortization, Total199.30M192.10M184.10M180.60M147.40M52.00M
Gain (Loss) On Sale of Investments97.10M-16.50M-96.40M-246.90M-145.30M-695.10M
Stock-Based Compensation414.10M374.70M467.90M249.10M154.00M163.10M
Change in Accounts Payable165.70M149.70M58.80M-33.20M-14.30M105.70M
Change in Other Net Operating Assets5.10M455.60M-193.80M-146.60M-615.30M305.70M
Other Operating Activities-5.09B-5.19B-2.29B1.16B-1.06B-1.68B
Operating Cash Flow-4.00B-3.28B-759.50M204.90M-379.30M1.79B
Capital Expenditures-125.30M-99.40M-77.70M-66.60M-40.60M-41.40M
Cash Acquisitions-150.20M
Sale (Purchase) of Intangibles-618.40M
Investment in Securities100.00K23.00M-19.60M
Investing Cash Flow-125.30M-99.40M-77.60M-43.60M-828.80M-32.20M
Short-Term Debt Issued10.40M70.00M
Long-Term Debt Issued4.90B1.83B712.60M697.40M778.70M
Total Debt Issued4.82B4.90B1.84B712.60M697.40M848.70M
Short-Term Debt Repaid-10.40M-70.00M
Long-Term Debt Repaid-56.50M-120.50M-17.20M-16.70M-492.40M
Total Debt Repaid-54.00M-56.50M-130.90M-17.20M-16.70M-562.40M
Net Debt Issued (Repaid)4.77B4.84B1.71B695.40M680.70M286.30M
Issuance of Common Stock38.90M4.80M
Repurchase of Common Stock-915.30M-686.50M-554.60M-203.50M-185.60M-161.80M
Common Dividends Paid-504.50M-505.10M-503.00M-497.70M-443.60M-355.80M
Dividends Paid-504.50M-505.10M-503.00M-497.70M-443.60M-355.80M
Other Financing Activities741.30M341.10M35.20M-93.80M24.40M-16.00M
Financing Cash Flow4.09B3.99B682.80M-99.60M114.80M-242.50M
Foreign Exchange Rate Adjustments11.80M91.60M-21.30M18.90M-20.30M-30.80M
Net Cash Flow-18.90M707.10M-175.60M80.60M-1.11B1.49B
Free Cash Flow-4.12B-3.37B-837.20M138.30M-419.90M1.75B
Free Cash Flow Margin-147.42%-83.71%-17.66%5.71%-10.20%20.61%
Free Cash Flow Per Share-11.09-9.10-2.270.38-1.154.83
Cash Interest Paid91.70M91.70M93.60M91.80M91.50M92.70M
Cash Income Tax Paid153.10M153.10M218.80M250.10M402.10M402.60M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization14.32B21.30B18.06B14.68B10.85B19.57B
Last Close Price40.1857.8948.1637.6126.3846.93
PE Ratio41.3326.3417.708.866.58
PS Ratio5.125.283.816.062.642.31
PB Ratio2.713.022.852.541.593.43
P/FCF Ratio106.1511.19
P/OCF Ratio71.6510.93
Debt / Equity Ratio1.981.971.501.601.271.49
Debt / FCF Ratio66.924.86
Net Debt / Equity Ratio1.691.511.171.291.041.03
Net Debt / FCF Ratio-2.96-3.17-8.8454.01-16.893.36
Asset Turnover0.100.150.210.110.190.46
Quick Ratio1.671.771.691.631.962.13
Current Ratio1.811.851.761.692.022.14
Return on Equity (ROE)7.77%14.09%17.99%-7.88%20.51%70.52%
Return on Assets (ROA)2.03%3.62%4.93%-2.33%6.02%16.51%
Return on Invested Capital (ROIC)2.38%4.61%6.94%-3.98%8.88%24.18%
Earnings Yield2.42%3.80%5.65%-4.14%11.29%15.20%
FCF Yield-28.80%-15.84%-4.64%0.94%-3.87%8.94%
Dividend Yield3.48%2.35%2.77%3.45%4.34%1.82%
Payout Ratio144.01%62.46%49.29%36.21%11.96%
Buyback Yield / Dilution-1.18%-0.78%-1.83%1.18%-0.86%-1.17%
Total Shareholder Return2.30%1.56%0.94%4.62%3.48%0.65%