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Carlyle Group (CG) Financials

Carlyle Group logo
$64.71 +2.41 (+3.87%)
Closing price 08/22/2025 04:00 PM Eastern
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$64.74 +0.04 (+0.05%)
As of 08/22/2025 06:46 PM Eastern
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Annual Income Statements for Carlyle Group

Annual Income Statements for Carlyle Group

This table shows Carlyle Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -18 6.40 238 93 345 348 2,975 1,225 -608 1,020
Consolidated Net Income / (Loss)		 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Net Income / (Loss) Continuing Operations		 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Total Pre-Tax Income 		402 45 1,132 360 1,233 580 4,028 1,573 -601 1,394
Total Revenue		 3,871 2,274 3,676 2,427 3,271 2,913 8,669 4,328 2,840 5,305
Net Interest Income / (Expense)		 0.00 912 35 839 -82 0.00 -113 -110 -124 -121
Total Interest Income		 0.00 912 35 839 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 0.00 82 0.00 113 110 124 121
Long-Term Debt Interest Expense		 - - - - 82 - 113 110 124 121
Total Non-Interest Income		 3,871 1,362 3,641 1,588 3,353 2,913 8,782 4,439 2,964 5,426
Other Service Charges		 976 - - 215 1,711 1,750 1,970 2,405 2,707 2,953
Investment Banking Income		 1,085 - - - 1,568 - 6,722 1,898 45 2,254
Other Non-Interest Income		 930 1,362 1,350 1,373 97 1,185 91 136 212 218
Total Non-Interest Expense		 3,468 2,242 2,632 2,070 2,036 2,333 4,641 2,755 3,441 3,911
Salaries and Employee Benefits		 1,521 1,335 1,961 1,363 1,410 1,734 4,032 1,926 2,377 2,705
Other Operating Expenses		 1,947 907 671 708 626 600 612 787 1,071 1,231
Other Special Charges		 - - - - - - -2.50 42 -6.90 -24
Nonoperating Income / (Expense), net		 - 13 -88 3.40 -1.30 - - -1.00 -0.20 0.30
Income Tax Expense		 2.10 30 125 31 49 197 982 288 -104 303
Net Income / (Loss) Attributable to Noncontrolling Interest		 538 41 73 34 56 35 71 60 112 71
Basic Earnings per Share		 ($0.24) $0.08 $2.58 $0.89 $3.05 $0.99 $8.37 $3.39 ($1.68) $2.85
Weighted Average Basic Shares Outstanding		 74.52M 82.71M 92.14M 104.20M 113.08M 350.46M 355.24M 361.28M 361.40M 358.58M
Diluted Earnings per Share		 ($0.30) ($0.08) $2.38 $0.82 $2.82 $0.97 $8.20 $3.35 ($1.68) $2.77
Weighted Average Diluted Shares Outstanding		 298.74M 308.52M 100.08M 113.39M 122.63M 358.39M 362.57M 365.71M 361.40M 368.02M
Weighted Average Basic & Diluted Shares Outstanding		 76.70M 80M 92.30M 108.95M 348.23M 354.19M 356.32M 364.22M 362.11M 361.20M
Cash Dividends to Common per Share		 $3.39 $1.68 $1.24 $1.24 $1.36 $1.00 - - $1.40 $1.40

Quarterly Income Statements for Carlyle Group

This table shows Carlyle Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 281 127 101 -98 81 -692 66 148 596 211
Consolidated Net Income / (Loss)		 282 159 125 -63 111 -670 99 149 616 227
Net Income / (Loss) Continuing Operations		 282 159 125 -63 111 -670 99 149 616 227
Total Pre-Tax Income 		359 172 160 -70 152 -843 121 219 789 265
Total Revenue		 1,031 745 833 447 676 884 651 1,034 2,607 1,013
Net Interest Income / (Expense)		 -27 -28 -30 -31 -31 -32 -31 -30 -30 -30
Total Interest Expense		 27 28 30 31 31 32 31 30 30 30
Long-Term Debt Interest Expense		 27 28 30 31 31 32 31 30 30 30
Total Non-Interest Income		 1,058 773 863 478 707 916 681 1,065 2,638 1,042
Other Service Charges		 631 625 643 666 676 722 715 731 752 756
Other Non-Interest Income		 36 43 44 50 40 78 58 52 1,884 -1,775
Total Non-Interest Expense		 672 572 673 517 524 1,727 530 816 1,819 747
Salaries and Employee Benefits		 469 266 420 246 278 1,432 257 476 1,480 492
Other Operating Expenses		 203 262 253 271 246 302 273 340 339 279
Income Tax Expense		 76 13 34 -7.30 41 -172 22 70 173 38
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.60 31 25 36 30 22 33 1.10 20 16
Basic Earnings per Share		 $0.77 $0.34 $0.28 ($0.27) $0.23 ($1.92) $0.18 $0.41 $1.67 $0.59
Weighted Average Basic Shares Outstanding		 362.90M 361.28M 362.94M 361.26M 360.57M 361.40M 360.91M 358.32M 357.69M 358.58M
Diluted Earnings per Share		 $0.77 $0.34 $0.28 ($0.27) $0.22 ($1.91) $0.18 $0.40 $1.63 $0.56
Weighted Average Diluted Shares Outstanding		 366.79M 365.71M 365.36M 361.26M 363.66M 361.40M 369.34M 366.90M 364.79M 368.02M
Weighted Average Basic & Diluted Shares Outstanding		 363.61M 364.22M 362.11M 359.95M 360.80M 362.11M 359.88M 356.38M 357.68M 361.20M

Annual Cash Flow Statements for Carlyle Group

This table details how cash moves in and out of Carlyle Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -251 -326 345 -391 190 162 1,486 -1,114 81 -176
Net Cash From Operating Activities		 3,903 -301 -7.10 -344 359 -169 1,791 -379 205 -760
Net Cash From Continuing Operating Activities		 3,903 -301 -7.10 -344 359 -169 1,791 -379 205 -760
Net Income / (Loss) Continuing Operations		 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Consolidated Net Income / (Loss)		 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Depreciation Expense		 323 72 41 47 66 52 52 147 181 184
Non-Cash Adjustments to Reconcile Net Income		 1,334 -1,339 -960 -991 -810 -1,151 -2,261 -1,109 1,054 -1,991
Changes in Operating Assets and Liabilities, net		 1,846 951 -96 272 -82 547 955 -703 -533 -44
Net Cash From Investing Activities		 -22 -25 -34 -99 -28 -61 -32 -829 -44 -78
Net Cash From Continuing Investing Activities		 -22 -25 -34 -99 -28 -61 -23 -829 -44 -78
Purchase of Property, Leasehold Improvements and Equipment		 -62 -25 -34 -31 -28 -61 -41 -41 -67 -78
Purchase of Investment Securities		 - 0.00 0.00 - - 0.00 0.00 -838 -187 -5.00
Sale and/or Maturity of Investments		 - - - - - 0.00 0.00 50 210 5.10
Net Cash From Financing Activities		 -4,011 15 319 72 -149 370 -243 115 -100 683
Net Cash From Continuing Financing Activities		 -4,011 15 319 72 -149 370 -243 115 -100 683
Issuance of Debt		 734 615 663 1,205 779 1,019 849 697 713 1,836
Issuance of Common Equity		 210 - - 31 0.00 0.00 4.80 39 0.00 0.00
Repayment of Debt		 -65 -44 -286 -412 -127 -334 -562 -17 -17 -131
Repurchase of Common Equity		 0.00 -59 -0.20 -108 -35 -26 -162 -186 -204 -555
Payment of Dividends		 -6,367 -564 -420 -547 -486 -351 -356 -444 -498 -503
Other Financing Activities, Net		 1,476 66 -26 -97 125 63 -16 24 -94 35
Effect of Exchange Rate Changes		 -121 -16 67 -20 8.10 22 -31 -20 19 -21
Cash Interest Paid		 56 59 60 61 63 80 93 92 92 94
Cash Income Taxes Paid		 42 35 25 47 31 35 403 402 250 219

Quarterly Cash Flow Statements for Carlyle Group

This table details how cash moves in and out of Carlyle Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 53 -1.00 -335 -151 397 170 -164 -361 462 -112
Net Cash From Operating Activities		 300 -121 -113 -737 800 254 71 -1,270 792 -353
Net Cash From Continuing Operating Activities		 300 -121 -113 -737 800 254 71 -1,270 792 -353
Net Income / (Loss) Continuing Operations		 282 159 125 -63 111 -670 99 149 616 227
Consolidated Net Income / (Loss)		 282 159 125 -63 111 -670 99 149 616 227
Depreciation Expense		 43 45 44 44 49 44 45 46 46 47
Non-Cash Adjustments to Reconcile Net Income		 -105 -116 -49 -448 301 1,251 -19 -932 -445 -595
Changes in Operating Assets and Liabilities, net		 80 -209 -233 -270 339 -370 -54 -532 575 -33
Net Cash From Investing Activities		 -227 34 -94 39 -29 41 -14 -23 -14 -27
Net Cash From Continuing Investing Activities		 -227 34 -94 39 -29 41 -14 -23 -14 -27
Purchase of Property, Leasehold Improvements and Equipment		 -7.60 -16 -13 -20 -17 -17 -14 -18 -19 -27
Net Cash From Financing Activities		 13 26 -137 545 -355 -152 -217 934 -347 312
Net Cash From Continuing Financing Activities		 13 26 -137 545 -355 -152 -217 934 -347 312
Issuance of Debt		 58 193 69 807 -89 -75 45 1,294 -108 605
Repayment of Debt		 0.10 -7.80 -1.10 -3.40 -2.80 -9.90 -14 -33 -37 -47
Repurchase of Common Equity		 -42 -39 -100 -61 -43 0.20 -150 -178 -151 -76
Payment of Dividends		 -118 -118 -118 -127 -126 -126 -127 -126 -126 -125
Other Financing Activities, Net		 113 -2.20 15 -72 -95 58 29 -23 74 -44
Effect of Exchange Rate Changes		 -33 60 8.30 2.20 -19 27 -4.40 -2.30 30 -45

Annual Balance Sheets for Carlyle Group

This table presents Carlyle Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 32,182 9,973 12,281 12,914 13,809 15,645 21,250 21,403 21,176 23,104
Cash and Due from Banks		 2,604 1,432 1,378 877 916 1,136 2,617 1,570 1,786 2,096
Restricted Cash		 37 13 29 8.70 35 2.00 5.60 0.80 1.80 0.50
Trading Account Securities		 886 1,107 5,289 5,698 6,804 7,381 10,832 10,768 9,955 10,937
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 961 257 314 577 348 362 518 681 833 1,043
Premises and Equipment, Net		 111 106 100 95 108 149 144 140 162 185
Intangible Assets		 136 42 36 77 62 49 35 898 766 634
Other Assets		 24,458 4,535 5,135 5,582 5,535 6,566 7,098 7,346 7,672 8,208
Total Liabilities & Shareholders' Equity		 32,182 9,973 12,281 12,914 13,809 15,645 21,250 21,403 21,176 23,104
Total Liabilities		 23,258 8,519 9,332 10,078 10,839 12,715 15,544 14,582 15,392 16,756
Other Short-Term Payables		 2,417 2,032 - 2,665 2,851 3,509 5,335 4,690 5,256 5,836
Long-Term Debt		 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Other Long-Term Liabilities		 2,565 1,277 3,454 1,023 1,305 1,672 2,248 1,715 1,368 1,912
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 6,078 1,454 2,949 2,836 2,970 2,930 5,706 6,821 5,785 6,348
Total Preferred & Common Equity		 517 308 629 978 619 2,689 5,279 6,221 5,191 5,607
Total Common Equity		 517 308 629 590 619 2,689 5,279 6,221 5,191 5,607
Common Stock		 486 403 702 673 704 2,550 2,721 3,142 3,407 3,896
Retained Earnings		 - - - - 0.00 348 2,805 3,401 2,082 2,041
Accumulated Other Comprehensive Income / (Loss)		 -90 -95 -73 -83 -85 -209 -248 -322 -297 -330
Noncontrolling Interest		 5,561 1,146 2,320 1,859 2,351 241 427 600 593 741

Quarterly Balance Sheets for Carlyle Group

This table presents Carlyle Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 21,092 21,274 21,381 20,957 20,850 22,284 22,658
Cash and Due from Banks		 1,539 1,239 1,407 1,620 1,703 1,962 1,865
Restricted Cash		 0.60 17 5.40 4.50 1.40 2.30 2.10
Trading Account Securities		 10,998 10,784 10,218 9,975 9,473 9,598 11,095
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 595 600 723 820 828 944 976
Premises and Equipment, Net		 134 142 151 155 163 168 174
Intangible Assets		 925 866 835 796 733 700 671
Other Assets		 6,900 7,626 8,043 7,587 7,949 8,910 7,876
Total Liabilities & Shareholders' Equity		 21,092 21,274 21,381 20,957 20,850 22,284 22,658
Total Liabilities		 14,438 14,462 14,736 14,453 15,110 16,555 16,323
Other Short-Term Payables		 4,727 4,199 - 3,958 4,549 4,699 5,785
Long-Term Debt		 7,752 8,362 8,774 8,695 8,794 10,036 8,742
Other Long-Term Liabilities		 1,959 1,902 5,963 1,800 1,766 1,819 1,796
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 6,655 6,812 6,645 6,505 5,740 5,729 6,335
Total Preferred & Common Equity		 6,118 6,175 5,964 5,920 5,071 5,030 5,547
Total Common Equity		 6,118 6,175 5,964 5,920 5,071 5,030 5,547
Common Stock		 3,127 3,199 3,270 3,341 3,518 3,646 3,778
Retained Earnings		 3,431 3,281 2,993 2,903 1,868 1,708 2,035
Accumulated Other Comprehensive Income / (Loss)		 -440 -305 -299 -324 -315 -324 -266
Noncontrolling Interest		 537 637 681 585 669 700 789

Annual Metrics And Ratios for Carlyle Group

This table displays calculated financial ratios and metrics derived from Carlyle Group's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -18.81% -41.24% 61.64% -33.98% 34.76% -10.94% 197.56% -50.07% -34.38% 86.78%
EBITDA Growth		 -37.16% -85.63% 941.46% -62.80% 222.10% -51.39% 545.39% -57.82% -124.41% 475.51%
EBIT Growth		 -58.17% -91.99% 3,141.93% -65.82% 246.05% -53.03% 594.40% -60.93% -138.18% 331.96%
NOPAT Growth		 -54.90% -97.28% 9,886.20% -70.00% 263.92% -67.71% 695.51% -57.79% -132.71% 359.43%
Net Income Growth		 -56.28% -96.18% 6,484.31% -67.35% 260.11% -67.68% 695.51% -57.81% -138.66% 319.67%
EPS Growth		 -124.39% 73.33% 3,075.00% -65.55% 243.90% -65.60% 745.36% -59.15% -150.15% 264.88%
Operating Cash Flow Growth		 47.51% -107.70% 97.64% -4,738.03% 204.40% -147.18% 1,158.51% -121.18% 154.02% -470.67%
Free Cash Flow Firm Growth		 100.28% 503.90% -105.23% 93.06% 1,118.50% -156.42% 63.03% 71.68% 157.28% 1,018.50%
Invested Capital Growth		 -9.94% -75.50% 32.43% 4.54% 4.61% 8.41% 30.62% 9.73% -2.98% 5.52%
Revenue Q/Q Growth		 -2.20% -3.05% 22.90% -31.30% 8.40% 427.01% -8.46% -23.59% 5.17% 2.48%
EBITDA Q/Q Growth		 6.06% 663.24% 136.22% -63.45% 3.45% 147.69% -20.63% -27.91% -170.59% 238.74%
EBIT Q/Q Growth		 19.99% 128.70% 155.17% -66.33% 2.94% 141.87% -20.18% -31.98% -245.31% 388.74%
NOPAT Q/Q Growth		 28.30% 112.46% 133.16% -66.00% 2.96% 138.25% -27.70% -28.04% -226.58% 463.75%
Net Income Q/Q Growth		 18.41% 110.40% 116.27% -65.68% 2.85% 125.79% -27.70% -28.09% -249.52% 463.88%
EPS Q/Q Growth		 -900.00% -700.00% 33.71% -42.25% 0.00% 244.78% 3.54% -30.06% -394.74% 823.33%
Operating Cash Flow Q/Q Growth		 -14.64% 27.11% -104.94% 29.01% -26.14% 74.97% -34.36% 69.77% 220.53% -397.71%
Free Cash Flow Firm Q/Q Growth		 -40.03% -2.07% 23.19% 79.93% -29.32% 64.07% -129.69% -106.08% 105.58% -8.77%
Invested Capital Q/Q Growth		 -0.31% 7.22% 9.21% -1.97% 1.73% 8.09% 2.31% 4.11% -4.26% 1.84%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 18.73% 4.58% 29.52% 16.63% 39.75% 21.70% 47.06% 39.76% -14.79% 29.74%
EBIT Margin		 10.39% 1.42% 28.40% 14.70% 37.75% 19.91% 46.46% 36.35% -21.15% 26.27%
Profit (Net Income) Margin		 10.34% 0.67% 27.40% 13.55% 36.21% 13.14% 35.13% 29.68% -17.49% 20.57%
Tax Burden Percent		 99.48% 33.77% 88.97% 91.31% 96.03% 66.00% 75.61% 81.70% 82.66% 78.29%
Interest Burden Percent		 100.00% 140.68% 108.47% 100.95% 99.89% 100.00% 100.00% 99.94% 100.03% 100.02%
Effective Tax Rate		 0.52% 66.23% 11.03% 8.69% 3.97% 34.00% 24.39% 18.30% 0.00% 21.71%
Return on Invested Capital (ROIC)		 1.39% 0.06% 14.02% 3.61% 12.56% 3.81% 25.24% 8.97% -2.85% 7.30%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.39% 0.10% 12.60% 3.66% 12.54% 3.81% 25.24% 8.96% -3.75% 7.30%
Return on Net Nonoperating Assets (RNNOA)		 2.28% 0.23% 31.74% 7.76% 28.24% 9.17% 45.28% 11.54% -5.03% 10.69%
Return on Equity (ROE)		 3.67% 0.29% 45.76% 11.37% 40.80% 12.98% 70.52% 20.51% -7.88% 17.99%
Cash Return on Invested Capital (CROIC)		 11.85% 121.34% -13.88% -0.83% 8.05% -4.26% -1.31% -0.31% 0.17% 1.92%
Operating Return on Assets (OROA)		 1.18% 0.15% 9.38% 2.83% 9.24% 3.94% 21.83% 7.38% -2.82% 6.29%
Return on Assets (ROA)		 1.17% 0.07% 9.05% 2.61% 8.86% 2.60% 16.51% 6.02% -2.33% 4.93%
Return on Common Equity (ROCE)		 0.21% 0.02% 9.74% 2.40% 8.49% 7.28% 65.06% 18.83% -7.13% 16.01%
Return on Equity Simple (ROE_SIMPLE)		 77.45% 4.97% 160.13% 33.64% 191.46% 14.23% 57.69% 20.65% -9.57% 19.46%
Net Operating Profit after Tax (NOPAT)		 400 11 1,086 326 1,186 383 3,045 1,286 -420 1,091
NOPAT Margin		 10.34% 0.48% 29.54% 13.42% 36.25% 13.14% 35.13% 29.70% -14.81% 20.56%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.04% 1.42% -0.05% 0.02% 0.00% 0.00% 0.01% 0.90% 0.00%
SG&A Expenses to Revenue		 39.30% 58.69% 53.35% 56.15% 43.11% 59.51% 46.51% 44.50% 83.68% 50.99%
Operating Expenses to Revenue		 89.61% 98.58% 71.60% 85.30% 62.25% 80.09% 53.54% 63.65% 121.15% 73.73%
Earnings before Interest and Taxes (EBIT)		 402 32 1,044 357 1,235 580 4,028 1,574 -601 1,393
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 725 104 1,085 404 1,300 632 4,080 1,721 -420 1,578
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.59 3.05 2.76 2.36 5.31 3.74 3.40 1.61 2.75 3.26
Price to Tangible Book Value (P/TBV)		 2.15 3.54 2.93 2.71 5.90 3.81 3.42 1.88 3.22 3.67
Price to Revenue (P/Rev)		 0.21 0.41 0.47 0.57 1.00 3.45 2.07 2.31 5.02 3.44
Price to Earnings (P/E)		 0.00 146.88 7.30 14.98 9.51 28.87 6.04 8.15 0.00 17.90
Dividend Yield		 33.22% 15.12% 6.98% 9.60% 4.86% 3.51% 1.99% 4.46% 3.51% 2.79%
Earnings Yield		 0.00% 0.68% 13.70% 6.67% 10.52% 3.46% 16.56% 12.26% 0.00% 5.59%
Enterprise Value to Invested Capital (EV/IC)		 0.91 0.88 0.97 0.99 1.18 1.59 1.74 1.15 1.50 1.69
Enterprise Value to Revenue (EV/Rev)		 6.42 2.57 2.32 3.77 3.48 5.73 2.74 3.97 7.69 4.89
Enterprise Value to EBITDA (EV/EBITDA)		 34.29 56.16 7.86 22.65 8.74 26.40 5.82 9.99 0.00 16.43
Enterprise Value to EBIT (EV/EBIT)		 61.81 181.72 8.17 25.62 9.21 28.77 5.89 10.93 0.00 18.60
Enterprise Value to NOPAT (EV/NOPAT)		 62.13 538.05 7.85 28.06 9.59 43.59 7.79 13.38 0.00 23.76
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.37 0.00 0.00 0.00 31.70 0.00 13.25 0.00 106.57 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.31 0.28 0.00 0.00 14.96 0.00 0.00 0.00 849.35 90.13
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 2.05 3.58 1.99 2.25 2.25 2.57 1.40 1.20 1.52 1.42
Long-Term Debt to Equity		 2.05 3.58 1.99 2.25 2.25 2.57 1.40 1.20 1.52 1.42
Financial Leverage		 1.64 2.26 2.52 2.12 2.25 2.41 1.79 1.29 1.34 1.47
Leverage Ratio		 3.13 4.06 5.05 4.36 4.60 4.99 4.27 3.40 3.38 3.65
Compound Leverage Factor		 3.13 5.71 5.48 4.40 4.60 4.99 4.27 3.40 3.38 3.65
Debt to Total Capital		 67.19% 78.18% 66.59% 69.26% 69.24% 72.00% 58.25% 54.52% 60.25% 58.66%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 67.19% 78.18% 66.59% 69.26% 69.24% 72.00% 58.25% 54.52% 60.25% 58.66%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 4.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 30.91% 17.20% 26.28% 20.14% 24.36% 2.30% 3.13% 4.00% 4.08% 4.82%
Common Equity to Total Capital		 1.90% 4.62% 7.13% 6.40% 6.41% 25.70% 38.62% 41.48% 35.67% 36.51%
Debt to EBITDA		 25.21 50.01 5.42 15.83 5.14 11.92 1.95 4.75 -20.87 5.71
Net Debt to EBITDA		 21.56 36.14 4.12 13.64 4.41 10.12 1.31 3.84 -16.61 4.38
Long-Term Debt to EBITDA		 25.21 50.01 5.42 15.83 5.14 11.92 1.95 4.75 -20.87 5.71
Debt to NOPAT		 45.68 479.14 5.41 19.62 5.64 19.68 2.61 6.36 -20.85 8.26
Net Debt to NOPAT		 39.08 346.23 4.12 16.90 4.84 16.71 1.75 5.14 -16.60 6.34
Long-Term Debt to NOPAT		 45.68 479.14 5.41 19.62 5.64 19.68 2.61 6.36 -20.85 8.26
Noncontrolling Interest Sharing Ratio		 94.36% 92.05% 78.72% 78.93% 79.18% 43.93% 7.74% 8.20% 9.47% 10.99%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 3,402 20,545 -1,075 -75 760 -429 -159 -45 26 288
Operating Cash Flow to CapEx		 6,264.53% -1,183.46% -20.88% -1,097.44% 1,289.93% -276.47% 4,326.09% -934.24% 307.66% -977.48%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 9.26 0.00 -1.40 -0.41 0.21 2.38
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 4.37 0.00 15.81 -3.44 1.66 -6.28
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 4.03 0.00 15.44 -3.80 1.12 -6.92
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.11 0.11 0.33 0.19 0.24 0.20 0.47 0.20 0.13 0.24
Fixed Asset Turnover		 41.55 20.96 35.60 24.83 32.18 22.64 59.15 30.50 18.85 30.59
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 27,199 6,665 8,826 9,227 9,653 10,464 13,668 14,998 14,552 15,355
Invested Capital Turnover		 0.13 0.13 0.47 0.27 0.35 0.29 0.72 0.30 0.19 0.35
Increase / (Decrease) in Invested Capital		 -3,002 -20,534 2,162 400 426 812 3,204 1,330 -446 803
Enterprise Value (EV)		 24,860 5,852 8,528 9,143 11,367 16,688 23,726 17,196 21,837 25,917
Market Capitalization		 819 940 1,737 1,392 3,283 10,051 17,960 9,990 14,264 18,266
Book Value per Share		 $6.44 $3.64 $6.43 $5.48 $5.28 $7.61 $14.81 $17.11 $14.39 $15.68
Tangible Book Value per Share		 $4.75 $3.14 $6.07 $4.76 $4.74 $7.47 $14.71 $14.64 $12.27 $13.90
Total Capital		 27,199 6,665 8,826 9,227 9,653 10,464 13,668 14,998 14,552 15,355
Total Debt		 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Total Long-Term Debt		 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Net Debt		 15,634 3,765 4,471 5,505 5,733 6,396 5,339 6,606 6,979 6,911
Capital Expenditures (CapEx)		 62 25 34 31 28 61 41 41 67 78
Net Nonoperating Expense (NNE)		 0.00 -4.42 79 -3.10 1.25 0.00 0.00 0.82 76 -0.23
Net Nonoperating Obligations (NNO)		 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Total Depreciation and Amortization (D&A)		 323 72 41 47 66 52 52 147 181 184
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.24) $0.08 $2.58 $0.89 $3.05 $0.99 $8.37 $0.00 ($1.68) $2.85
Adjusted Weighted Average Basic Shares Outstanding		 74.52M 82.71M 92.14M 104.20M 113.08M 350.46M 355.24M 0.00 361.40M 358.58M
Adjusted Diluted Earnings per Share		 ($0.30) ($0.08) $2.38 $0.82 $2.82 $0.97 $8.20 $0.00 ($1.68) $2.77
Adjusted Weighted Average Diluted Shares Outstanding		 298.74M 308.52M 100.08M 113.39M 122.63M 358.39M 362.57M 0.00 361.40M 368.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $3.05 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 81.34M 85.65M 100.47M 108.95M 348.23M 354.19M 356.32M 0.00 362.11M 361.20M
Normalized Net Operating Profit after Tax (NOPAT)		 400 23 1,086 326 1,186 383 3,043 1,319 -425 1,072
Normalized NOPAT Margin		 10.34% 0.99% 29.54% 13.42% 36.25% 13.14% 35.11% 30.48% -14.98% 20.21%
Pre Tax Income Margin		 10.39% 1.99% 30.80% 14.84% 37.71% 19.91% 46.46% 36.33% -21.16% 26.27%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 15.04 0.00 35.55 14.25 -4.85 11.52
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 14.44 0.00 26.88 11.64 -3.40 9.02
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 14.70 0.00 35.18 13.89 -5.39 10.87
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 14.10 0.00 26.51 11.28 -3.93 8.37
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 1,591.23% 3,683.01% 41.66% 166.43% 41.03% 91.77% 11.68% 34.53% -100.20% 46.10%
Augmented Payout Ratio		 1,591.23% 4,067.97% 41.68% 199.12% 43.94% 98.67% 17.00% 48.98% -141.17% 96.93%

Quarterly Metrics And Ratios for Carlyle Group

This table displays calculated financial ratios and metrics derived from Carlyle Group's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -36.03% -62.09% -46.40% -55.24% -34.44% 18.73% -21.89% 131.36% 285.77% 14.51%
EBITDA Growth		 -46.87% -75.41% -73.28% -107.61% -49.88% -467.86% -18.47% 1,119.31% 314.96% 139.12%
EBIT Growth		 -48.87% -81.09% -78.51% -123.36% -57.53% -588.46% -24.37% 412.14% 417.86% 131.51%
NOPAT Growth		 -48.41% -75.98% -78.93% -119.69% -60.67% -471.94% -21.15% 404.28% 454.25% 138.53%
Net Income Growth		 -48.41% -75.98% -78.93% -125.19% -60.69% -522.64% -21.15% 338.12% 454.68% 133.91%
EPS Growth		 -47.26% -80.90% -82.17% -140.30% -71.43% -661.76% -35.71% 248.15% 640.91% 129.32%
Operating Cash Flow Growth		 -86.31% 87.88% 69.73% -294.27% 166.60% 310.35% 163.20% -72.40% -0.99% -238.84%
Free Cash Flow Firm Growth		 75.54% 53.93% 72.40% 44.12% 10.97% 87.74% 202.09% 80.89% 208.17% -300.86%
Invested Capital Growth		 7.85% 9.73% 5.92% 6.85% 5.50% -2.98% -4.21% 2.25% -0.80% 5.52%
Revenue Q/Q Growth		 3.23% -27.75% 11.83% -46.33% 51.21% 30.83% -26.73% 58.96% 152.12% -61.16%
EBITDA Q/Q Growth		 17.99% -45.89% -5.83% -112.72% 876.83% -497.12% 120.77% 59.04% 216.25% -62.56%
EBIT Q/Q Growth		 19.65% -51.90% -6.94% -143.86% 317.57% -653.25% 114.32% 81.03% 260.96% -66.34%
NOPAT Q/Q Growth		 13.46% -43.84% -21.00% -139.11% 326.68% -631.08% 116.75% 50.91% 312.91% -63.08%
Net Income Q/Q Growth		 13.46% -43.84% -21.00% -150.04% 277.03% -703.87% 114.74% 51.11% 312.39% -63.08%
EPS Q/Q Growth		 14.93% -55.84% -17.65% -196.43% 181.48% -968.18% 109.42% 122.22% 307.50% -65.64%
Operating Cash Flow Q/Q Growth		 260.60% -140.27% 6.87% -554.67% 208.59% -68.23% -72.02% -1,885.79% 162.37% -144.55%
Free Cash Flow Firm Q/Q Growth		 58.79% -53.06% 38.33% -43.65% 34.33% 78.92% 613.40% -126.90% 471.63% -178.12%
Invested Capital Q/Q Growth		 -0.16% 4.11% 1.17% 1.62% -1.42% -4.26% -0.12% 8.47% -4.36% 1.84%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 38.94% 29.16% 24.44% -5.79% 29.77% -90.35% 25.51% 25.53% 32.02% 30.87%
EBIT Margin		 34.79% 23.16% 19.16% -15.66% 22.53% -95.28% 18.55% 21.13% 30.25% 26.22%
Profit (Net Income) Margin		 27.39% 21.29% 15.04% -14.03% 16.42% -75.80% 15.19% 14.44% 23.61% 22.45%
Tax Burden Percent		 78.75% 92.48% 78.51% 89.57% 72.93% 79.54% 81.86% 68.24% 78.06% 85.64%
Interest Burden Percent		 100.00% 99.42% 100.00% 100.00% 99.93% 100.01% 100.00% 100.14% 100.01% 99.96%
Effective Tax Rate		 21.25% 7.52% 21.49% 0.00% 27.07% 0.00% 18.14% 31.76% 21.94% 14.36%
Return on Invested Capital (ROIC)		 11.18% 6.43% 3.68% -2.24% 3.00% -12.82% 2.72% 3.00% 8.07% 7.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.18% 6.43% 3.68% -2.41% 3.00% -13.77% 2.72% 3.00% 8.07% 7.96%
Return on Net Nonoperating Assets (RNNOA)		 15.37% 8.28% 4.56% -3.09% 3.75% -18.51% 3.71% 4.56% 10.96% 11.67%
Return on Equity (ROE)		 26.55% 14.71% 8.24% -5.33% 6.74% -31.33% 6.43% 7.56% 19.04% 19.63%
Cash Return on Invested Capital (CROIC)		 5.32% -0.31% -0.22% -3.25% -3.11% 0.17% 1.29% -3.80% 2.08% 1.92%
Operating Return on Assets (OROA)		 9.41% 4.70% 3.21% -2.24% 2.89% -12.71% 2.34% 3.14% 7.18% 6.28%
Return on Assets (ROA)		 7.41% 4.32% 2.52% -2.00% 2.11% -10.11% 1.92% 2.15% 5.61% 5.38%
Return on Common Equity (ROCE)		 24.71% 13.51% 7.57% -4.87% 6.17% -28.37% 5.76% 6.72% 17.00% 17.47%
Return on Equity Simple (ROE_SIMPLE)		 29.20% 0.00% 13.20% 8.44% 5.61% 0.00% -10.32% -6.19% 3.49% 0.00%
Net Operating Profit after Tax (NOPAT)		 282 159 125 -49 111 -590 99 149 616 227
NOPAT Margin		 27.39% 21.29% 15.04% -10.96% 16.43% -66.71% 15.19% 14.42% 23.61% 22.45%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.16% 0.00% 0.95% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 45.50% 35.67% 50.46% 55.12% 41.15% 161.90% 39.56% 46.00% 56.77% 48.56%
Operating Expenses to Revenue		 65.21% 76.84% 80.84% 115.66% 77.47% 195.28% 81.45% 78.87% 69.75% 73.78%
Earnings before Interest and Taxes (EBIT)		 359 173 160 -70 152 -843 121 219 789 266
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 401 217 204 -26 201 -799 166 264 835 313
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.44 1.61 1.76 1.88 1.79 2.75 3.37 2.91 2.83 3.26
Price to Tangible Book Value (P/TBV)		 1.70 1.88 2.04 2.18 2.07 3.22 3.94 3.38 3.22 3.67
Price to Revenue (P/Rev)		 1.56 2.31 3.00 3.67 3.93 5.02 6.43 4.51 3.03 3.44
Price to Earnings (P/E)		 5.06 8.15 14.37 27.30 50.29 0.00 0.00 0.00 133.47 17.90
Dividend Yield		 4.70% 4.46% 4.37% 4.31% 4.64% 3.51% 2.98% 3.49% 3.25% 2.79%
Earnings Yield		 19.76% 12.26% 6.96% 3.66% 1.99% 0.00% 0.00% 0.00% 0.75% 5.59%
Enterprise Value to Invested Capital (EV/IC)		 1.08 1.15 1.22 1.25 1.20 1.50 1.71 1.48 1.55 1.69
Enterprise Value to Revenue (EV/Rev)		 2.75 3.97 5.15 6.30 6.76 7.69 9.35 7.21 4.51 4.89
Enterprise Value to EBITDA (EV/EBITDA)		 6.53 9.99 16.00 24.20 30.68 0.00 0.00 0.00 50.13 16.43
Enterprise Value to EBIT (EV/EBIT)		 6.74 10.93 18.78 31.05 44.16 0.00 0.00 0.00 81.89 18.60
Enterprise Value to NOPAT (EV/NOPAT)		 8.72 13.38 22.79 38.21 54.95 0.00 0.00 0.00 120.66 23.76
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 106.57 63.95 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 21.10 0.00 0.00 0.00 0.00 849.35 130.05 0.00 74.07 90.13
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.16 1.20 1.23 1.32 1.34 1.52 1.53 1.75 1.38 1.42
Long-Term Debt to Equity		 1.16 1.20 1.23 1.32 1.34 1.52 1.53 1.75 1.38 1.42
Financial Leverage		 1.38 1.29 1.24 1.28 1.25 1.34 1.37 1.52 1.36 1.47
Leverage Ratio		 3.58 3.40 3.27 3.27 3.20 3.38 3.36 3.53 3.40 3.65
Compound Leverage Factor		 3.58 3.39 3.27 3.27 3.19 3.38 3.36 3.53 3.40 3.65
Debt to Total Capital		 53.81% 54.52% 55.11% 56.90% 57.20% 60.25% 60.51% 63.66% 57.98% 58.66%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 53.81% 54.52% 55.11% 56.90% 57.20% 60.25% 60.51% 63.66% 57.98% 58.66%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 3.73% 4.00% 4.20% 4.42% 3.85% 4.08% 4.61% 4.44% 5.23% 4.82%
Common Equity to Total Capital		 42.46% 41.48% 40.70% 38.68% 38.95% 35.67% 34.89% 31.90% 36.79% 36.51%
Debt to EBITDA		 3.25 4.75 7.20 11.03 14.61 -20.87 -19.21 -59.74 18.77 5.71
Net Debt to EBITDA		 2.60 3.84 6.12 9.26 11.88 -16.61 -15.48 -48.05 14.76 4.38
Long-Term Debt to EBITDA		 3.25 4.75 7.20 11.03 14.61 -20.87 -19.21 -59.74 18.77 5.71
Debt to NOPAT		 4.34 6.36 10.26 17.42 26.17 -20.85 -19.64 -40.85 45.18 8.26
Net Debt to NOPAT		 3.48 5.14 8.72 14.62 21.28 -16.60 -15.83 -32.85 35.53 6.34
Long-Term Debt to NOPAT		 4.34 6.36 10.26 17.42 26.17 -20.85 -19.64 -40.85 45.18 8.26
Noncontrolling Interest Sharing Ratio		 6.94% 8.20% 8.21% 8.62% 8.53% 9.47% 10.41% 11.16% 10.70% 10.99%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -766 -1,172 -723 -1,038 -682 -144 738 -198 737 -576
Operating Cash Flow to CapEx		 3,947.37% -774.36% -872.09% -3,757.65% 4,677.19% 1,494.71% 500.70% -7,173.45% 4,146.07% -1,321.35%
Free Cash Flow to Firm to Interest Expense		 -28.04 -41.26 -24.33 -33.81 -21.71 -4.49 23.95 -6.53 24.33 -19.53
Operating Cash Flow to Interest Expense		 10.99 -4.25 -3.79 -23.99 25.47 7.94 2.31 -41.77 26.14 -11.96
Operating Cash Flow Less CapEx to Interest Expense		 10.71 -4.80 -4.22 -24.63 24.93 7.41 1.85 -42.35 25.51 -12.86
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.27 0.20 0.17 0.14 0.13 0.13 0.13 0.15 0.24 0.24
Fixed Asset Turnover		 41.41 30.50 25.14 21.15 18.68 18.85 17.45 20.41 31.48 30.59
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 14,407 14,998 15,173 15,418 15,200 14,552 14,534 15,766 15,078 15,355
Invested Capital Turnover		 0.41 0.30 0.24 0.20 0.18 0.19 0.18 0.21 0.34 0.35
Increase / (Decrease) in Invested Capital		 1,048 1,330 848 989 793 -446 -639 348 -122 803
Enterprise Value (EV)		 15,581 17,196 18,579 19,243 18,256 21,837 24,845 23,395 23,347 25,917
Market Capitalization		 8,832 9,990 10,837 11,201 10,601 14,264 17,086 14,623 15,683 18,266
Book Value per Share		 $16.93 $17.11 $17.01 $16.47 $16.45 $14.39 $14.05 $13.98 $15.56 $15.68
Tangible Book Value per Share		 $14.37 $14.64 $14.63 $14.16 $14.24 $12.27 $12.02 $12.03 $13.68 $13.90
Total Capital		 14,407 14,998 15,173 15,418 15,200 14,552 14,534 15,766 15,078 15,355
Total Debt		 7,752 8,177 8,362 8,774 8,695 8,768 8,794 10,036 8,742 9,008
Total Long-Term Debt		 7,752 8,177 8,362 8,774 8,695 8,768 8,794 10,036 8,742 9,008
Net Debt		 6,212 6,606 7,106 7,362 7,070 6,979 7,090 8,072 6,875 6,911
Capital Expenditures (CapEx)		 7.60 16 13 20 17 17 14 18 19 27
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 14 0.07 80 0.00 -0.20 -0.08 0.00
Net Nonoperating Obligations (NNO)		 7,752 8,177 8,362 8,774 8,695 8,768 8,794 10,036 8,742 9,008
Total Depreciation and Amortization (D&A)		 43 45 44 44 49 44 45 46 46 47
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.77 $0.34 $0.28 ($0.27) $0.23 ($1.92) $0.18 $0.41 $1.67 $0.59
Adjusted Weighted Average Basic Shares Outstanding		 362.90M 361.28M 362.94M 361.26M 360.57M 361.40M 360.91M 358.32M 357.69M 358.58M
Adjusted Diluted Earnings per Share		 $0.77 $0.34 $0.28 ($0.27) $0.22 ($1.91) $0.18 $0.40 $1.63 $0.56
Adjusted Weighted Average Diluted Shares Outstanding		 366.79M 365.71M 365.36M 361.26M 363.66M 361.40M 369.34M 366.90M 364.79M 368.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 363.61M 364.22M 362.11M 359.95M 360.80M 362.11M 359.88M 356.38M 357.68M 361.20M
Normalized Net Operating Profit after Tax (NOPAT)		 282 159 125 -49 111 -590 99 149 616 227
Normalized NOPAT Margin		 27.39% 21.29% 15.04% -10.96% 16.43% -66.71% 15.19% 14.42% 23.61% 22.45%
Pre Tax Income Margin		 34.79% 23.03% 19.16% -15.66% 22.52% -95.30% 18.55% 21.16% 30.25% 26.21%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 13.14 6.07 5.37 -2.28 4.85 -26.33 3.92 7.19 26.03 9.00
NOPAT to Interest Expense		 10.34 5.58 4.22 -1.60 3.54 -18.43 3.21 4.90 20.32 7.71
EBIT Less CapEx to Interest Expense		 12.86 5.52 4.94 -2.92 4.31 -26.86 3.46 6.61 25.40 8.09
NOPAT Less CapEx to Interest Expense		 10.07 5.04 3.78 -2.23 2.99 -18.97 2.75 4.32 19.69 6.80
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 8.27% 34.53% 57.96% 95.63% 147.38% -100.20% -96.71% -162.24% 260.52% 46.10%
Augmented Payout Ratio		 16.09% 48.98% 83.17% 143.51% 220.35% -141.17% -145.11% -281.46% 507.86% 96.93%

Key Financial Trends

The financial results of Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (NASDAQ: CGABL) over the last four years show a mixed but improving trend by the end of 2024. Here are the key insights:

  • Net Income has recovered from significant losses in Q4 2023 (-$670.3 million) to solid profitability in Q4 2024 ($227.3 million), showing marked improvement in the company's earnings across one year.
  • Total Revenue showed strong growth, with Q4 2024 revenue reaching $1.01 billion compared to $884 million in Q4 2023, driven by increased Non-Interest Income.
  • Total Non-Interest Income increased to over $1 billion in Q4 2024 from $916 million in Q4 2023, indicating growth in fee and other service-related revenues.
  • Operating cash flow, while negative in Q4 2024 (-$353 million), has shown significant quarterly fluctuations with some large positive quarters, indicating active capital and operating asset management.
  • Debt management shows active refinancing and repayment strategies with significant debt issuance in recent quarters, e.g., $604.7 million issued in Q4 2024 and repayments, potentially optimizing interest costs.
  • Long-Term Debt remains elevated, around $8.7 to $10 billion, indicating substantial leverage but consistent with the company's business model and financing strategy.
  • Salaries and employee benefits remain a significant operating expense, around $490 million in Q4 2024, reflecting Carlyle’s reliance on its specialist workforce.
  • Total Non-Interest Expenses reported very high levels (over $747 million in Q4 2024), which offset some revenue gains, pressuring pre-tax income.
  • Net Interest Expense has consistently been around $29-$32 million quarterly, marginally reducing income and indicating debt servicing costs remain an ongoing expense.
  • Cash and equivalents fluctuated, with a net decrease of $112 million in Q4 2024, reflecting volatility in liquidity possibly due to investment and financing activities.

Summary: Carlyle Group has demonstrated a strong earnings recovery from a challenging Q4 2023 loss position to profitability in 2024. Revenue growth driven by non-interest income has supported this improvement. However, the company continues to operate with significant leverage and high expenses, which bears monitoring. Cash flow volatility suggests active asset and debt management strategies. Overall, recent trends are positive for CGABL holders, but leverage and expense levels remain key risk factors.

08/23/25 07:51 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Carlyle Group's Financials

When does Carlyle Group's financial year end?

According to the most recent income statement we have on file, Carlyle Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Carlyle Group's net income changed over the last 9 years?

Carlyle Group's net income appears to be on an upward trend, with a most recent value of $1.09 billion in 2024, rising from $400.10 million in 2015. The previous period was -$496.70 million in 2023. Check out Carlyle Group's forecast to explore projected trends and price targets.

How has Carlyle Group's revenue changed over the last 9 years?

Over the last 9 years, Carlyle Group's total revenue changed from $3.87 billion in 2015 to $5.30 billion in 2024, a change of 37.1%.

How much debt does Carlyle Group have?

Carlyle Group's total liabilities were at $16.76 billion at the end of 2024, a 8.9% increase from 2023, and a 28.0% decrease since 2015.

How much cash does Carlyle Group have?

In the past 9 years, Carlyle Group's cash and equivalents has ranged from $877.10 million in 2018 to $2.62 billion in 2021, and is currently $2.10 billion as of their latest financial filing in 2024.

How has Carlyle Group's book value per share changed over the last 9 years?

Over the last 9 years, Carlyle Group's book value per share changed from 6.44 in 2015 to 15.68 in 2024, a change of 143.5%.


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This page (NASDAQ:CG) was last updated on 8/23/2025 by MarketBeat.com Staff
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