NASDAQ : CGBD
Carlyle Secured Lending, Inc. — Financial statements
Financials · Asset Management · United States
Last price 10.81 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 743.78M
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Financial statements
Carlyle Secured Lending, Inc. (CGBD) reported revenue of 259.59M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Other Revenue | 259.59M | 255.57M | 232.59M | 241.63M | 207.26M | 171.24M |
| Revenue | 259.59M | 255.57M | 232.59M | 241.63M | 207.26M | 171.24M |
| Gross Profit | 259.59M | 255.57M | 232.59M | 241.63M | 207.26M | 171.24M |
| Selling, General & Admin | 66.74M | 64.83M | 56.11M | 57.51M | 57.42M | 52.85M |
| Operating Expenses | 66.74M | 64.83M | 56.11M | 57.51M | 57.42M | 52.85M |
| Operating Income | 192.85M | 190.74M | 176.48M | 184.12M | 149.83M | 118.39M |
| Interest Expense | -3.92M | -1.02M | -856.00K | -763.00K | -855.00K | -763.00K |
| Currency Exchange Gain (Loss) | 7.27M | -11.88M | 3.70M | -3.54M | 6.23M | 1.78M |
| Other Non Operating Income (Expenses) | -86.89M | -87.06M | -67.63M | -70.95M | -43.11M | -29.99M |
| EBT Excluding Unusual Items | 109.31M | 90.77M | 111.69M | 108.87M | 112.10M | 89.42M |
| Gain (Loss) on Sale of Investments | -70.33M | -18.89M | -19.97M | -14.15M | -24.63M | 71.72M |
| Pretax Income | 38.98M | 71.88M | 91.72M | 94.72M | 87.47M | 161.13M |
| Income Tax Expense | 1.97M | 1.91M | 2.74M | 2.44M | 1.83M | 782.00K |
| Net Income | 37.01M | 69.97M | 88.98M | 92.28M | 85.64M | 160.35M |
| Preferred Dividends & Other Adjustments | 826.00K | 3.50M | 3.50M | 3.50M | 3.50M | |
| Net Income to Common | 37.01M | 69.15M | 85.48M | 88.78M | 82.14M | 156.85M |
| Shares Outstanding (Basic) | 71.59M | 67.72M | 50.83M | 50.82M | 52.11M | 54.24M |
| Shares Outstanding (Diluted) | 71.59M | 69.04M | 56.47M | 56.31M | 57.48M | 59.53M |
| EPS (Basic) | 0.52 | 1.02 | 1.68 | 1.75 | 1.58 | 2.89 |
| EPS (Diluted) | 0.52 | 1.01 | 1.58 | 1.64 | 1.49 | 2.69 |
| Dividend Per Share | 1.55 | 1.60 | 1.60 | 1.48 | 1.34 | 1.28 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Margin | 74.29% | 74.63% | 75.87% | 76.20% | 72.29% | 69.14% |
| Profit Margin | 14.26% | 27.06% | 36.75% | 36.74% | 39.63% | 91.60% |
| EBIT | 192.85M | 190.74M | 176.48M | 184.12M | 149.83M | 118.39M |
| EBIT Margin | 74.29% | 74.63% | 75.87% | 76.20% | 72.29% | 69.14% |
| Effective Tax Rate | 5.06% | 2.65% | 2.99% | 2.57% | 2.09% | 0.48% |
| Revenue as Reported | 259.59M | 255.57M | 232.59M | 241.63M | 207.26M | 171.24M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 25.94M | 45.02M | 29.67M | 22.56M | 16.09M | 22.99M |
| Trading Asset Securities | 298.00K | 164.00K | 985.00K | |||
| Cash & Short-Term Investments | 25.94M | 45.32M | 29.84M | 23.54M | 16.09M | 22.99M |
| Receivables | 24.98M | 239.44M | 57.84M | 33.76M | 25.55M | 20.67M |
| Prepaid Expenses | 9.09M | 10.02M | 6.17M | 5.50M | 5.76M | 4.55M |
| Restricted Cash | 22.92M | 31.47M | 26.90M | 37.89M | 14.41M | 70.08M |
| Other Current Assets | 765.00K | 1.70M | ||||
| Total Current Assets | 83.69M | 326.25M | 122.45M | 100.70M | 61.82M | 118.30M |
| Long-Term Investments | 2.36B | 2.46B | 1.80B | 1.84B | 1.98B | 1.91B |
| Total Assets | 2.44B | 2.79B | 1.93B | 1.94B | 2.04B | 2.03B |
| Accounts Payable | 21.55M | 1.35M | 287.00K | 323.00K | ||
| Accrued Expenses | 37.49M | 39.86M | 28.70M | 27.26M | 24.35M | 17.50M |
| Current Portion of Long-Term Debt | 190.00M | |||||
| Other Current Liabilities | 24.21M | 28.72M | 22.91M | 22.32M | 22.45M | 20.70M |
| Total Current Liabilities | 61.70M | 90.13M | 52.97M | 239.58M | 47.08M | 38.52M |
| Long-Term Debt | 1.30B | 1.53B | 967.82M | 790.18M | 1.08B | 1.04B |
| Total Liabilities | 1.36B | 1.62B | 1.02B | 1.03B | 1.12B | 1.08B |
| Common Stock | 692.00K | 718.00K | 509.00K | 508.00K | 511.00K | 532.00K |
| Additional Paid-In Capital | 1.33B | 1.36B | 1.01B | 1.02B | 1.02B | 1.05B |
| Retained Earnings | -252.31M | -195.69M | -157.98M | -151.74M | -153.68M | -152.52M |
| Comprehensive Income & Other | -1.63M | -1.63M | -1.63M | -1.63M | -1.63M | -1.63M |
| Total Common Equity | 1.08B | 1.17B | 855.20M | 862.81M | 867.42M | 898.80M |
| Shareholders' Equity | 1.08B | 1.17B | 905.20M | 912.81M | 917.42M | 948.80M |
| Total Liabilities & Equity | 2.44B | 2.79B | 1.93B | 1.94B | 2.04B | 2.03B |
| Total Debt | 1.30B | 1.53B | 967.82M | 980.18M | 1.08B | 1.04B |
| Net Cash (Debt) | -1.28B | -1.49B | -937.99M | -956.64M | -1.06B | -1.02B |
| Net Cash Per Share | -17.83 | -21.54 | -16.61 | -16.99 | -18.46 | -17.15 |
| Filing Date Shares Outstanding | 68.80M | 70.68M | 50.96M | 50.79M | 50.82M | 52.84M |
| Total Common Shares Outstanding | 69.16M | 71.81M | 50.91M | 50.79M | 51.06M | 53.14M |
| Working Capital | 21.99M | 236.11M | 69.48M | -138.89M | 14.74M | 79.77M |
| Book Value Per Share | 15.61 | 16.26 | 16.80 | 16.99 | 16.99 | 16.91 |
| Tangible Book Value | 1.08B | 1.17B | 855.20M | 862.81M | 867.42M | 898.80M |
| Tangible Book Value Per Share | 15.61 | 16.26 | 16.80 | 16.99 | 16.99 | 16.91 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 37.01M | 69.97M | 88.98M | 92.28M | 85.64M | 160.35M |
| Other Amortization | 5.52M | 5.30M | 3.49M | 1.29M | 1.38M | 1.34M |
| Loss (Gain) From Sale of Investments | 48.90M | 13.54M | 8.97M | 5.72M | 14.64M | -81.10M |
| Other Operating Activities | 55.81M | -309.83M | -5.99M | 138.00M | -89.20M | -4.90M |
| Change in Accounts Receivable | 4.62M | 18.40M | 1.29M | -9.70M | -3.88M | -461.00K |
| Change in Other Net Operating Assets | 14.71M | -1.94M | 7.53M | 3.02M | 5.94M | 202.00K |
| Operating Cash Flow | 166.57M | -204.56M | 104.27M | 230.61M | 14.51M | 75.43M |
| Long-Term Debt Issued | 1.67B | 1.17B | 251.79M | 372.25M | 419.20M | |
| Long-Term Debt Repaid | -1.32B | -1.17B | -350.41M | -332.76M | -357.50M | |
| Net Debt Issued (Repaid) | 398.00K | 349.56M | -4.16M | -98.62M | 39.49M | 61.70M |
| Issuance of Common Stock | 101.00K | |||||
| Repurchase of Common Stock | -44.90M | -13.87M | -3.99M | -28.46M | -28.44M | |
| Dividends Paid | -104.04M | -96.00M | -93.02M | -86.82M | -83.66M | |
| Other Financing Activities | -122.43M | -7.27M | -7.98M | -5.04M | -1.29M | -382.00K |
| Financing Cash Flow | -166.94M | 224.48M | -108.14M | -200.67M | -77.08M | -50.78M |
| Net Cash Flow | -362.00K | 19.92M | -3.87M | 29.94M | -62.57M | 24.66M |
| Levered Free Cash Flow | 270.54M | -27.27M | 101.17M | 86.96M | 152.63M | 21.74M |
| Unlevered Free Cash Flow | 267.47M | -31.93M | 98.22M | 86.14M | 151.78M | 20.88M |
| Cash Interest Paid | 81.11M | 77.33M | 63.63M | 68.36M | 38.48M | 29.36M |
| Cash Income Tax Paid | 2.09M | 2.73M | 2.43M | 1.84M | 774.00K | 641.00K |
| Change in Working Capital | 19.33M | 16.46M | 8.82M | -6.68M | 2.06M | -259.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 755.47M | 910.56M | 912.75M | 759.89M | 735.02M | 735.22M |
| Enterprise Value | 2.03B | 2.19B | 1.79B | 1.79B | 1.81B | 1.82B |
| Last Close Price | 10.78 | 11.29 | 14.39 | 10.78 | 9.13 | 7.76 |
| PE Ratio | 21.24 | 13.17 | 10.68 | 8.56 | 8.95 | 4.69 |
| Forward PE | 7.62 | 8.38 | 10.24 | 7.48 | 7.69 | 8.78 |
| PS Ratio | 2.89 | 3.56 | 3.92 | 3.15 | 3.55 | 4.29 |
| PB Ratio | 0.69 | 0.78 | 1.01 | 0.83 | 0.80 | 0.78 |
| P/TBV Ratio | 0.70 | 0.78 | 1.07 | 0.88 | 0.85 | 0.82 |
| P/OCF Ratio | 4.51 | 8.75 | 3.29 | 50.65 | 9.75 | |
| PEG Ratio | 4.55 | 4.55 | 4.55 | 4.55 | 4.55 | |
| EV/Sales Ratio | 7.81 | 8.57 | 7.67 | 7.42 | 8.72 | 10.64 |
| EV/EBIT Ratio | 10.51 | 11.49 | 10.12 | 9.74 | 12.06 | 15.40 |
| Debt / Equity Ratio | 1.21 | 1.31 | 1.07 | 1.07 | 1.17 | 1.10 |
| Net Debt / Equity Ratio | 1.18 | 1.27 | 1.04 | 1.05 | 1.16 | 1.08 |
| Asset Turnover | 0.10 | 0.11 | 0.12 | 0.12 | 0.10 | 0.09 |
| Quick Ratio | 0.82 | 3.16 | 1.66 | 0.24 | 0.89 | 1.13 |
| Current Ratio | 1.36 | 3.62 | 2.31 | 0.42 | 1.31 | 3.07 |
| Return on Equity (ROE) | 3.25% | 6.75% | 9.79% | 10.08% | 9.18% | 17.33% |
| Return on Assets (ROA) | 4.80% | 5.05% | 5.70% | 5.78% | 4.60% | 3.74% |
| Return on Invested Capital (ROIC) | 7.65% | 8.26% | 9.22% | 9.32% | 7.43% | 6.20% |
| Return on Capital Employed (ROCE) | 8.10% | 7.10% | 9.40% | 10.80% | 7.50% | 5.90% |
| Earnings Yield | 4.71% | 7.69% | 9.75% | 12.14% | 11.65% | 21.81% |
| Dividend Yield | 15.03% | 12.62% | 8.92% | 9.89% | 9.31% | 9.25% |
| Payout Ratio | 290.16% | 148.69% | 107.89% | 100.80% | 101.38% | 52.17% |
| Buyback Yield / Dilution | -17.61% | -22.26% | -0.28% | 2.04% | 3.44% | -5.51% |
| Total Shareholder Return | -2.52% | -9.64% | 8.65% | 11.93% | 12.75% | 3.74% |