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Carlyle Group (CG) Financials

Carlyle Group logo
$58.48 +0.93 (+1.62%)
Closing price 04:00 PM Eastern
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$58.44 -0.04 (-0.08%)
As of 07:43 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 86 -18 6.40 238 93 345 348 2,975 1,225 -608 1,020
Consolidated Net Income / (Loss)		 915 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Net Income / (Loss) Continuing Operations		 915 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Total Pre-Tax Income 		992 402 45 1,132 360 1,233 580 4,028 1,573 -601 1,394
Total Revenue		 4,767 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 0.00 912 35 839 -82 0.00 -113 -110 -124 -121
Total Interest Income		 0.00 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 0.00 82 0.00 113 110 124 121
Long-Term Debt Interest Expense		 - - - - - 82 - 113 110 124 121
Total Non-Interest Income		 4,767 3,871 1,362 3,641 1,588 3,353 2,913 8,782 4,439 2,964 5,426
Other Service Charges		 956 976 - - 215 1,711 1,750 1,970 2,405 2,707 2,953
Investment Banking Income		 1,166 1,085 - - - 1,568 - 6,722 1,898 45 2,254
Other Non-Interest Income		 1,765 930 1,362 1,350 1,373 97 1,185 91 136 212 218
Total Non-Interest Expense		 3,806 3,468 2,242 2,632 2,070 2,036 2,333 4,641 2,755 3,441 3,911
Salaries and Employee Benefits		 2,006 1,521 1,335 1,961 1,363 1,410 1,734 4,032 1,926 2,377 2,705
Other Operating Expenses		 1,800 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		 30 - 13 -88 3.40 -1.30 - - -1.00 -0.20 0.30
Income Tax Expense		 77 2.10 30 125 31 49 197 982 288 -104 303
Net Income / (Loss) Attributable to Noncontrolling Interest		 486 538 41 73 34 56 35 71 60 112 71
Basic Earnings per Share		 $1.35 ($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		 62.79M 74.52M 82.71M 92.14M 104.20M 113.08M 350.46M 355.24M 361.28M 361.40M 358.58M
Diluted Earnings per Share		 $1.23 ($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		 68.46M 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		 63.60M 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		 $1.88 $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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 127 101 -98 81 -692 66 148 596 211 130 320
Consolidated Net Income / (Loss)		 159 125 -63 111 -670 99 149 616 227 159 328
Net Income / (Loss) Continuing Operations		 159 125 -63 111 -670 99 149 616 227 159 328
Total Pre-Tax Income 		172 160 -70 152 -843 121 219 789 265 171 441
Total Revenue		 745 833 447 676 884 651 1,034 2,607 1,013 951 1,592
Net Interest Income / (Expense)		 -28 -30 -31 -31 -32 -31 -30 -30 -30 -28 -28
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 28 30 31 31 32 31 30 30 30 28 28
Long-Term Debt Interest Expense		 28 30 31 31 32 31 30 30 30 28 28
Total Non-Interest Income		 773 863 478 707 916 681 1,065 2,638 1,042 979 1,620
Other Service Charges		 625 643 666 676 722 715 731 752 756 763 824
Net Realized & Unrealized Capital Gains on Investments		 - 176 -238 -9.30 - -91 -5.10 2.50 - 166 47
Investment Banking Income		 - - - - - - 286 - - - 694
Other Non-Interest Income		 43 44 50 40 78 58 52 1,884 -1,775 51 55
Total Non-Interest Expense		 572 673 517 524 1,727 530 816 1,819 747 780 1,151
Salaries and Employee Benefits		 266 420 246 278 1,432 257 476 1,480 492 493 775
Other Operating Expenses		 262 253 271 246 302 273 340 339 279 287 376
Nonoperating Income / (Expense), net		 - - 0.00 -0.10 - - 0.30 0.10 - - 0.10
Income Tax Expense		 13 34 -7.30 41 -172 22 70 173 38 12 113
Net Income / (Loss) Attributable to Noncontrolling Interest		 31 25 36 30 22 33 1.10 20 16 29 8.40
Basic Earnings per Share		 $0.34 $0.28 ($0.27) $0.23 ($1.92) $0.18 $0.41 $1.67 $0.59 $0.36 $0.89
Weighted Average Basic Shares Outstanding		 361.28M 362.94M 361.26M 360.57M 361.40M 360.91M 358.32M 357.69M 358.58M 359.46M 360.36M
Diluted Earnings per Share		 $0.34 $0.28 ($0.27) $0.22 ($1.91) $0.18 $0.40 $1.63 $0.56 $0.35 $0.87
Weighted Average Diluted Shares Outstanding		 365.71M 365.36M 361.26M 363.66M 361.40M 369.34M 366.90M 364.79M 368.02M 366.34M 366.97M
Weighted Average Basic & Diluted Shares Outstanding		 364.22M 362.11M 359.95M 360.80M 362.11M 359.88M 356.38M 357.68M 361.20M 361.14M 361.70M
Cash Dividends to Common per Share		 - - - $0.35 - $0.35 $0.35 $0.35 - $0.35 $0.35

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 275 -251 -326 345 -391 190 162 1,486 -1,114 81 -176
Net Cash From Operating Activities		 2,646 3,903 -301 -7.10 -344 359 -169 1,791 -379 205 -760
Net Cash From Continuing Operating Activities		 2,646 3,903 -301 -7.10 -344 359 -169 1,791 -379 205 -760
Net Income / (Loss) Continuing Operations		 915 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Consolidated Net Income / (Loss)		 915 400 15 1,007 329 1,184 383 3,045 1,285 -497 1,091
Depreciation Expense		 192 323 72 41 47 66 52 52 147 181 184
Non-Cash Adjustments to Reconcile Net Income		 -660 1,334 -1,339 -960 -991 -810 -1,151 -2,261 -1,109 1,054 -1,991
Changes in Operating Assets and Liabilities, net		 2,198 1,846 951 -96 272 -82 547 955 -703 -533 -44
Net Cash From Investing Activities		 37 -22 -25 -34 -99 -28 -61 -32 -829 -44 -78
Net Cash From Continuing Investing Activities		 37 -22 -25 -34 -99 -28 -61 -23 -829 -44 -78
Purchase of Property, Leasehold Improvements and Equipment		 -30 -62 -25 -34 -31 -28 -61 -41 -41 -67 -78
Purchase of Investment Securities		 -3.10 - 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		 -2,293 -4,011 15 319 72 -149 370 -243 115 -100 683
Net Cash From Continuing Financing Activities		 -2,293 -4,011 15 319 72 -149 370 -243 115 -100 683
Issuance of Debt		 211 734 615 663 1,205 779 1,019 849 697 713 1,836
Issuance of Common Equity		 450 210 - - 31 0.00 0.00 4.80 39 0.00 0.00
Repayment of Debt		 -1,068 -65 -44 -286 -412 -127 -334 -562 -17 -17 -131
Repurchase of Common Equity		 0.00 0.00 -59 -0.20 -108 -35 -26 -162 -186 -204 -555
Payment of Dividends		 -4,780 -6,367 -564 -420 -547 -486 -351 -356 -444 -498 -503
Other Financing Activities, Net		 2,894 1,476 66 -26 -97 125 63 -16 24 -94 35
Effect of Exchange Rate Changes		 -114 -121 -16 67 -20 8.10 22 -31 -20 19 -21
Cash Interest Paid		 52 56 59 60 61 63 80 93 92 92 94
Cash Income Taxes Paid		 59 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -1.00 -335 -151 397 170 -164 -361 462 -112 -67 78
Net Cash From Operating Activities		 -121 -113 -737 800 254 71 -1,270 792 -353 -352 -169
Net Cash From Continuing Operating Activities		 -121 -113 -737 800 254 71 -1,270 792 -353 -352 -169
Net Income / (Loss) Continuing Operations		 159 125 -63 111 -670 99 149 616 227 159 328
Consolidated Net Income / (Loss)		 159 125 -63 111 -670 99 149 616 227 159 328
Depreciation Expense		 45 44 44 49 44 45 46 46 47 47 48
Non-Cash Adjustments to Reconcile Net Income		 -116 -49 -448 301 1,251 -19 -932 -445 -595 -736 -709
Changes in Operating Assets and Liabilities, net		 -209 -233 -270 339 -370 -54 -532 575 -33 178 164
Net Cash From Investing Activities		 34 -94 39 -29 41 -14 -23 -14 -27 -17 -18
Net Cash From Continuing Investing Activities		 34 -94 39 -29 41 -14 -23 -14 -27 -17 -18
Purchase of Property, Leasehold Improvements and Equipment		 -16 -13 -20 -17 -17 -14 -18 -19 -27 -17 -18
Net Cash From Financing Activities		 26 -137 545 -355 -152 -217 934 -347 312 297 230
Net Cash From Continuing Financing Activities		 26 -137 545 -355 -152 -217 934 -347 312 297 230
Issuance of Debt		 193 69 807 -89 -75 45 1,294 -108 605 575 496
Repayment of Debt		 -7.80 -1.10 -3.40 -2.80 -9.90 -14 -33 -37 -47 -15 -26
Repurchase of Common Equity		 -39 -100 -61 -43 0.20 -150 -178 -151 -76 -177 -104
Payment of Dividends		 -118 -118 -127 -126 -126 -127 -126 -126 -125 -126 -126
Other Financing Activities, Net		 -2.20 15 -72 -95 58 29 -23 74 -44 40 -10
Effect of Exchange Rate Changes		 60 8.30 2.20 -19 27 -4.40 -2.30 30 -45 5.00 34

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 35,994 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		 2,793 2,604 1,432 1,378 877 916 1,136 2,617 1,570 1,786 2,096
Trading Account Securities		 932 886 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 0.00
Customer and Other Receivables		 1,413 961 257 314 577 348 362 518 681 833 1,043
Premises and Equipment, Net		 75 111 106 100 95 108 149 144 140 162 185
Intangible Assets		 442 136 42 36 77 62 49 35 898 766 634
Other Assets		 26,469 24,458 4,535 5,135 5,582 5,535 6,566 7,098 7,346 7,672 8,208
Total Liabilities & Shareholders' Equity		 35,994 32,182 9,973 12,281 12,914 13,809 15,645 21,250 21,403 21,176 23,104
Total Liabilities		 23,138 23,258 8,519 9,332 10,078 10,839 12,715 15,544 14,582 15,392 16,756
Other Short-Term Payables		 2,709 2,417 2,032 - 2,665 2,851 3,509 5,335 4,690 5,256 5,836
Long-Term Debt		 17,345 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Other Long-Term Liabilities		 3,084 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 0.00
Total Equity & Noncontrolling Interests		 9,095 6,078 1,454 2,949 2,836 2,970 2,930 5,706 6,821 5,785 6,348
Total Preferred & Common Equity		 712 517 308 629 978 619 2,689 5,279 6,221 5,191 5,607
Total Common Equity		 712 517 308 629 590 619 2,689 5,279 6,221 5,191 5,607
Common Stock		 566 486 403 702 673 704 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)		 -39 -90 -95 -73 -83 -85 -209 -248 -322 -297 -330
Noncontrolling Interest		 8,383 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 Q1 2025 Q2 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets		 21,092 21,274 21,381 20,957 20,850 22,284 22,658 24,096 25,068
Cash and Due from Banks		 1,539 1,239 1,407 1,620 1,703 1,962 1,865 1,761 1,739
Trading Account Securities		 10,998 10,784 10,218 9,975 9,473 9,598 11,095 10,740 11,203
Loans and Leases, Net of Allowance		 0.00 0.00 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 1,019 1,043
Premises and Equipment, Net		 134 142 151 155 163 168 174 188 192
Intangible Assets		 925 866 835 796 733 700 671 603 574
Other Assets		 6,900 7,626 8,043 7,587 7,949 8,910 7,876 9,776 10,317
Total Liabilities & Shareholders' Equity		 21,092 21,274 21,381 20,957 20,850 22,284 22,658 24,096 25,068
Total Liabilities		 14,438 14,462 14,736 14,453 15,110 16,555 16,323 17,710 18,350
Other Short-Term Payables		 4,727 4,199 - 3,958 4,549 4,699 5,785 5,431 6,038
Long-Term Debt		 7,752 8,362 8,774 8,695 8,794 10,036 8,742 9,958 10,211
Other Long-Term Liabilities		 1,959 1,902 5,963 1,800 1,766 1,819 1,796 2,322 2,100
Commitments & Contingencies		 0.00 0.00 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 6,385 6,718
Total Preferred & Common Equity		 6,118 6,175 5,964 5,920 5,071 5,030 5,547 5,577 5,861
Total Common Equity		 6,118 6,175 5,964 5,920 5,071 5,030 5,547 5,577 5,861
Common Stock		 3,127 3,199 3,270 3,341 3,518 3,646 3,778 4,001 4,100
Retained Earnings		 3,431 3,281 2,993 2,903 1,868 1,708 2,035 1,865 1,950
Accumulated Other Comprehensive Income / (Loss)		 -440 -305 -299 -324 -315 -324 -266 -289 -190
Noncontrolling Interest		 537 637 681 585 669 700 789 808 857

Annual Metrics And Ratios for Carlyle Group

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 -7.21% -18.81% -41.24% 61.64% -33.98% 34.76% -10.94% 197.56% -50.07% -34.38% 86.78%
EBITDA Growth		 -27.49% -37.16% -85.63% 941.46% -62.80% 222.10% -51.39% 545.39% -57.82% -124.41% 475.51%
EBIT Growth		 -32.64% -58.17% -91.99% 3,141.93% -65.82% 246.05% -53.03% 594.40% -60.93% -138.18% 331.96%
NOPAT Growth		 -33.42% -54.90% -97.28% 9,886.20% -70.00% 263.92% -67.71% 695.51% -57.79% -132.71% 359.43%
Net Income Growth		 -32.10% -56.28% -96.18% 6,484.31% -67.35% 260.11% -67.68% 695.51% -57.81% -138.66% 319.67%
EPS Growth		 -40.00% -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		 -11.64% 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		 209.27% 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		 -2.62% -9.94% -75.50% 32.43% 4.54% 4.61% 8.41% 30.62% 9.73% -2.98% 5.52%
Revenue Q/Q Growth		 -19.89% -2.20% -3.05% 22.90% -31.30% 8.40% 427.01% -8.46% -23.59% 5.17% 2.48%
EBITDA Q/Q Growth		 -43.13% 6.06% 663.24% 136.22% -63.45% 3.45% 147.69% -20.63% -27.91% -170.59% 238.74%
EBIT Q/Q Growth		 -48.60% 19.99% 128.70% 155.17% -66.33% 2.94% 141.87% -20.18% -31.98% -245.31% 388.74%
NOPAT Q/Q Growth		 -49.93% 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		 -49.23% 18.41% 110.40% 116.27% -65.68% 2.85% 125.79% -27.70% -28.09% -249.52% 463.88%
EPS Q/Q Growth		 -49.80% -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		 -10.44% -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		 270.04% -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		 -7.49% -0.31% 7.22% 9.21% -1.97% 1.73% 8.09% 2.31% 4.11% -4.26% 1.84%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 24.20% 18.73% 4.58% 29.52% 16.63% 39.75% 21.70% 47.06% 39.76% -14.79% 29.74%
EBIT Margin		 20.17% 10.39% 1.42% 28.40% 14.70% 37.75% 19.91% 46.46% 36.35% -21.15% 26.27%
Profit (Net Income) Margin		 19.20% 10.34% 0.67% 27.40% 13.55% 36.21% 13.14% 35.13% 29.68% -17.49% 20.57%
Tax Burden Percent		 92.26% 99.48% 33.77% 88.97% 91.31% 96.03% 66.00% 75.61% 81.70% 82.66% 78.29%
Interest Burden Percent		 103.15% 100.00% 140.68% 108.47% 100.95% 99.89% 100.00% 100.00% 99.94% 100.03% 100.02%
Effective Tax Rate		 7.74% 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)		 2.90% 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)		 3.06% 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)		 3.74% 2.28% 0.23% 31.74% 7.76% 28.24% 9.17% 45.28% 11.54% -5.03% 10.69%
Return on Equity (ROE)		 6.63% 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)		 5.55% 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)		 2.69% 1.18% 0.15% 9.38% 2.83% 9.24% 3.94% 21.83% 7.38% -2.82% 6.29%
Return on Assets (ROA)		 2.56% 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)		 0.37% 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)		 128.62% 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)		 887 400 11 1,086 326 1,186 383 3,045 1,286 -420 1,091
NOPAT Margin		 18.61% 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)		 -0.17% 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		 42.08% 39.30% 58.69% 53.35% 56.15% 43.11% 59.51% 46.51% 44.50% 83.68% 50.99%
Operating Expenses to Revenue		 79.83% 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)		 962 402 32 1,044 357 1,235 580 4,028 1,574 -601 1,393
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,154 725 104 1,085 404 1,300 632 4,080 1,721 -420 1,578
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.48 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)		 3.92 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)		 0.22 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)		 12.30 0.00 146.88 7.30 14.98 9.51 28.87 6.04 8.15 0.00 17.90
Dividend Yield		 13.02% 33.22% 15.12% 6.98% 9.60% 4.86% 3.51% 1.99% 4.46% 3.51% 2.79%
Earnings Yield		 8.13% 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)		 0.92 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)		 5.81 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)		 23.99 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)		 28.78 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)		 31.20 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)		 10.46 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)		 16.29 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		 1.35 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		 1.35 2.05 3.58 1.99 2.25 2.25 2.57 1.40 1.20 1.52 1.42
Financial Leverage		 1.22 1.64 2.26 2.52 2.12 2.25 2.41 1.79 1.29 1.34 1.47
Leverage Ratio		 2.60 3.13 4.06 5.05 4.36 4.60 4.99 4.27 3.40 3.38 3.65
Compound Leverage Factor		 2.68 3.13 5.71 5.48 4.40 4.60 4.99 4.27 3.40 3.38 3.65
Debt to Total Capital		 57.43% 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% 0.00%
Long-Term Debt to Total Capital		 57.43% 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% 0.00% 4.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 40.21% 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		 2.36% 1.90% 4.62% 7.13% 6.40% 6.41% 25.70% 38.62% 41.48% 35.67% 36.51%
Debt to EBITDA		 15.03 25.21 50.01 5.42 15.83 5.14 11.92 1.95 4.75 -20.87 5.71
Net Debt to EBITDA		 12.55 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		 15.03 25.21 50.01 5.42 15.83 5.14 11.92 1.95 4.75 -20.87 5.71
Debt to NOPAT		 19.55 45.68 479.14 5.41 19.62 5.64 19.68 2.61 6.36 -20.85 8.26
Net Debt to NOPAT		 16.32 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		 19.55 45.68 479.14 5.41 19.62 5.64 19.68 2.61 6.36 -20.85 8.26
Noncontrolling Interest Sharing Ratio		 94.49% 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)		 1,699 3,402 20,545 -1,075 -75 760 -429 -159 -45 26 288
Operating Cash Flow to CapEx		 8,908.08% 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 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 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 0.00 4.03 0.00 15.44 -3.80 1.12 -6.92
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.11 0.11 0.33 0.19 0.24 0.20 0.47 0.20 0.13 0.24
Fixed Asset Turnover		 66.12 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		 30,201 27,199 6,665 8,826 9,227 9,653 10,464 13,668 14,998 14,552 15,355
Invested Capital Turnover		 0.16 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		 -812 -3,002 -20,534 2,162 400 426 812 3,204 1,330 -446 803
Enterprise Value (EV)		 27,678 24,860 5,852 8,528 9,143 11,367 16,688 23,726 17,196 21,837 25,917
Market Capitalization		 1,056 819 940 1,737 1,392 3,283 10,051 17,960 9,990 14,264 18,266
Book Value per Share		 $10.56 $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		 $4.00 $4.75 $3.14 $6.07 $4.76 $4.74 $7.47 $14.71 $14.64 $12.27 $13.90
Total Capital		 30,201 27,199 6,665 8,826 9,227 9,653 10,464 13,668 14,998 14,552 15,355
Total Debt		 17,345 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Total Long-Term Debt		 17,345 18,276 5,211 5,877 6,391 6,683 7,534 7,962 8,177 8,768 9,008
Net Debt		 14,478 15,634 3,765 4,471 5,505 5,733 6,396 5,339 6,606 6,979 6,911
Capital Expenditures (CapEx)		 30 62 25 34 31 28 61 41 41 67 78
Net Nonoperating Expense (NNE)		 -28 0.00 -4.42 79 -3.10 1.25 0.00 0.00 0.82 76 -0.23
Net Nonoperating Obligations (NNO)		 17,345 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)		 192 323 72 41 47 66 52 52 147 181 184
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.35 ($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		 62.79M 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		 $1.23 ($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		 68.46M 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 $0.00 $3.05 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 68.91M 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)		 887 400 23 1,086 326 1,186 383 3,043 1,319 -425 1,072
Normalized NOPAT Margin		 18.61% 10.34% 0.99% 29.54% 13.42% 36.25% 13.14% 35.11% 30.48% -14.98% 20.21%
Pre Tax Income Margin		 20.81% 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 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 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 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 0.00 14.10 0.00 26.51 11.28 -3.93 8.37
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 522.35% 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		 522.35% 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -62.09% -46.40% -55.24% -34.44% 18.73% -21.89% 131.36% 285.77% 14.51% 46.23% 53.91%
EBITDA Growth		 -75.41% -73.28% -107.61% -49.88% -467.86% -18.47% 1,119.31% 314.96% 139.12% 31.27% 84.92%
EBIT Growth		 -81.09% -78.51% -123.36% -57.53% -588.46% -24.37% 412.14% 417.86% 131.51% 41.67% 101.60%
NOPAT Growth		 -75.98% -78.93% -119.69% -60.67% -471.94% -21.15% 404.28% 454.25% 138.53% 60.53% 120.01%
Net Income Growth		 -75.98% -78.93% -125.19% -60.69% -522.64% -21.15% 338.12% 454.68% 133.91% 60.53% 119.76%
EPS Growth		 -80.90% -82.17% -140.30% -71.43% -661.76% -35.71% 248.15% 640.91% 129.32% 94.44% 117.50%
Operating Cash Flow Growth		 87.88% 69.73% -294.27% 166.60% 310.35% 163.20% -72.40% -0.99% -238.84% -595.22% 86.71%
Free Cash Flow Firm Growth		 53.93% 72.40% 44.12% 10.97% 87.74% 202.09% 80.89% 208.17% -300.86% -323.71% -321.00%
Invested Capital Growth		 9.73% 5.92% 6.85% 5.50% -2.98% -4.21% 2.25% -0.80% 5.52% 12.45% 7.38%
Revenue Q/Q Growth		 -27.75% 11.83% -46.33% 51.21% 30.83% -26.73% 58.96% 152.12% -61.16% -6.04% 67.30%
EBITDA Q/Q Growth		 -45.89% -5.83% -112.72% 876.83% -497.12% 120.77% 59.04% 216.25% -62.56% -30.29% 124.05%
EBIT Q/Q Growth		 -51.90% -6.94% -143.86% 317.57% -653.25% 114.32% 81.03% 260.96% -66.34% -35.59% 157.60%
NOPAT Q/Q Growth		 -43.84% -21.00% -139.11% 326.68% -631.08% 116.75% 50.91% 312.91% -63.08% -30.22% 106.83%
Net Income Q/Q Growth		 -43.84% -21.00% -150.04% 277.03% -703.87% 114.74% 51.11% 312.39% -63.08% -30.22% 106.87%
EPS Q/Q Growth		 -55.84% -17.65% -196.43% 181.48% -968.18% 109.42% 122.22% 307.50% -65.64% -37.50% 148.57%
Operating Cash Flow Q/Q Growth		 -140.27% 6.87% -554.67% 208.59% -68.23% -72.02% -1,885.79% 162.37% -144.55% 0.20% 52.06%
Free Cash Flow Firm Q/Q Growth		 -53.06% 38.33% -43.65% 34.33% 78.92% 613.40% -126.90% 471.63% -178.12% -186.51% 49.39%
Invested Capital Q/Q Growth		 4.11% 1.17% 1.62% -1.42% -4.26% -0.12% 8.47% -4.36% 1.84% 6.43% 3.59%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 29.16% 24.44% -5.79% 29.77% -90.35% 25.51% 25.53% 32.02% 30.87% 22.90% 30.67%
EBIT Margin		 23.16% 19.16% -15.66% 22.53% -95.28% 18.55% 21.13% 30.25% 26.22% 17.97% 27.67%
Profit (Net Income) Margin		 21.29% 15.04% -14.03% 16.42% -75.80% 15.19% 14.44% 23.61% 22.45% 16.67% 20.61%
Tax Burden Percent		 92.48% 78.51% 89.57% 72.93% 79.54% 81.86% 68.24% 78.06% 85.64% 92.75% 74.47%
Interest Burden Percent		 99.42% 100.00% 100.00% 99.93% 100.01% 100.00% 100.14% 100.01% 99.96% 100.00% 100.02%
Effective Tax Rate		 7.52% 21.49% 0.00% 27.07% 0.00% 18.14% 31.76% 21.94% 14.36% 7.25% 25.53%
Return on Invested Capital (ROIC)		 6.43% 3.68% -2.24% 3.00% -12.82% 2.72% 3.00% 8.07% 7.96% 6.05% 7.77%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.43% 3.68% -2.41% 3.00% -13.77% 2.72% 3.00% 8.07% 7.96% 6.05% 7.77%
Return on Net Nonoperating Assets (RNNOA)		 8.28% 4.56% -3.09% 3.75% -18.51% 3.71% 4.56% 10.96% 11.67% 9.36% 12.64%
Return on Equity (ROE)		 14.71% 8.24% -5.33% 6.74% -31.33% 6.43% 7.56% 19.04% 19.63% 15.41% 20.41%
Cash Return on Invested Capital (CROIC)		 -0.31% -0.22% -3.25% -3.11% 0.17% 1.29% -3.80% 2.08% 1.92% -4.26% 1.02%
Operating Return on Assets (OROA)		 4.70% 3.21% -2.24% 2.89% -12.71% 2.34% 3.14% 7.18% 6.28% 4.48% 7.20%
Return on Assets (ROA)		 4.32% 2.52% -2.00% 2.11% -10.11% 1.92% 2.15% 5.61% 5.38% 4.16% 5.37%
Return on Common Equity (ROCE)		 13.51% 7.57% -4.87% 6.17% -28.37% 5.76% 6.72% 17.00% 17.47% 13.54% 17.86%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 13.20% 8.44% 5.61% 0.00% -10.32% -6.19% 3.49% 0.00% 20.64% 22.69%
Net Operating Profit after Tax (NOPAT)		 159 125 -49 111 -590 99 149 616 227 159 328
NOPAT Margin		 21.29% 15.04% -10.96% 16.43% -66.71% 15.19% 14.42% 23.61% 22.45% 16.67% 20.61%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.16% 0.00% 0.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 35.67% 50.46% 55.12% 41.15% 161.90% 39.56% 46.00% 56.77% 48.56% 51.85% 48.68%
Operating Expenses to Revenue		 76.84% 80.84% 115.66% 77.47% 195.28% 81.45% 78.87% 69.75% 73.78% 82.03% 72.33%
Earnings before Interest and Taxes (EBIT)		 173 160 -70 152 -843 121 219 789 266 171 441
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 217 204 -26 201 -799 166 264 835 313 218 488
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.61 1.76 1.88 1.79 2.75 3.37 2.91 2.83 3.26 2.85 3.19
Price to Tangible Book Value (P/TBV)		 1.88 2.04 2.18 2.07 3.22 3.94 3.38 3.22 3.67 3.19 3.54
Price to Revenue (P/Rev)		 2.31 3.00 3.67 3.93 5.02 6.43 4.51 3.03 3.44 2.83 3.04
Price to Earnings (P/E)		 8.15 14.37 27.30 50.29 0.00 0.00 0.00 133.47 17.90 14.64 14.90
Dividend Yield		 4.46% 4.37% 4.31% 4.64% 3.51% 2.98% 3.49% 3.25% 2.79% 3.21% 2.72%
Earnings Yield		 12.26% 6.96% 3.66% 1.99% 0.00% 0.00% 0.00% 0.75% 5.59% 6.83% 6.71%
Enterprise Value to Invested Capital (EV/IC)		 1.15 1.22 1.25 1.20 1.50 1.71 1.48 1.55 1.69 1.52 1.66
Enterprise Value to Revenue (EV/Rev)		 3.97 5.15 6.30 6.76 7.69 9.35 7.21 4.51 4.89 4.44 4.55
Enterprise Value to EBITDA (EV/EBITDA)		 9.99 16.00 24.20 30.68 0.00 0.00 0.00 50.13 16.43 15.26 15.13
Enterprise Value to EBIT (EV/EBIT)		 10.93 18.78 31.05 44.16 0.00 0.00 0.00 81.89 18.60 17.23 16.84
Enterprise Value to NOPAT (EV/NOPAT)		 13.38 22.79 38.21 54.95 0.00 0.00 0.00 120.66 23.76 21.61 21.10
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 106.57 63.95 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 849.35 130.05 0.00 74.07 90.13 0.00 168.57
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.20 1.23 1.32 1.34 1.52 1.53 1.75 1.38 1.42 1.56 1.52
Long-Term Debt to Equity		 1.20 1.23 1.32 1.34 1.52 1.53 1.75 1.38 1.42 1.56 1.52
Financial Leverage		 1.29 1.24 1.28 1.25 1.34 1.37 1.52 1.36 1.47 1.55 1.63
Leverage Ratio		 3.40 3.27 3.27 3.20 3.38 3.36 3.53 3.40 3.65 3.71 3.80
Compound Leverage Factor		 3.39 3.27 3.27 3.19 3.38 3.36 3.53 3.40 3.65 3.71 3.81
Debt to Total Capital		 54.52% 55.11% 56.90% 57.20% 60.25% 60.51% 63.66% 57.98% 58.66% 60.93% 60.32%
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% 0.00%
Long-Term Debt to Total Capital		 54.52% 55.11% 56.90% 57.20% 60.25% 60.51% 63.66% 57.98% 58.66% 60.93% 60.32%
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% 0.00%
Noncontrolling Interests to Total Capital		 4.00% 4.20% 4.42% 3.85% 4.08% 4.61% 4.44% 5.23% 4.82% 4.94% 5.06%
Common Equity to Total Capital		 41.48% 40.70% 38.68% 38.95% 35.67% 34.89% 31.90% 36.79% 36.51% 34.13% 34.62%
Debt to EBITDA		 4.75 7.20 11.03 14.61 -20.87 -19.21 -59.74 18.77 5.71 6.11 5.51
Net Debt to EBITDA		 3.84 6.12 9.26 11.88 -16.61 -15.48 -48.05 14.76 4.38 5.02 4.57
Long-Term Debt to EBITDA		 4.75 7.20 11.03 14.61 -20.87 -19.21 -59.74 18.77 5.71 6.11 5.51
Debt to NOPAT		 6.36 10.26 17.42 26.17 -20.85 -19.64 -40.85 45.18 8.26 8.65 7.68
Net Debt to NOPAT		 5.14 8.72 14.62 21.28 -16.60 -15.83 -32.85 35.53 6.34 7.11 6.37
Long-Term Debt to NOPAT		 6.36 10.26 17.42 26.17 -20.85 -19.64 -40.85 45.18 8.26 8.65 7.68
Noncontrolling Interest Sharing Ratio		 8.20% 8.21% 8.62% 8.53% 9.47% 10.41% 11.16% 10.70% 10.99% 12.18% 12.51%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,172 -723 -1,038 -682 -144 738 -198 737 -576 -1,650 -835
Operating Cash Flow to CapEx		 -774.36% -872.09% -3,757.65% 4,677.19% 1,494.71% 500.70% -7,173.45% 4,146.07% -1,321.35% -2,108.38% -964.57%
Free Cash Flow to Firm to Interest Expense		 -41.26 -24.33 -33.81 -21.71 -4.49 23.95 -6.53 24.33 -19.53 -59.36 -29.83
Operating Cash Flow to Interest Expense		 -4.25 -3.79 -23.99 25.47 7.94 2.31 -41.77 26.14 -11.96 -12.67 -6.03
Operating Cash Flow Less CapEx to Interest Expense		 -4.80 -4.22 -24.63 24.93 7.41 1.85 -42.35 25.51 -12.86 -13.27 -6.65
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.20 0.17 0.14 0.13 0.13 0.13 0.15 0.24 0.24 0.25 0.26
Fixed Asset Turnover		 30.50 25.14 21.15 18.68 18.85 17.45 20.41 31.48 30.59 31.94 34.32
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 14,998 15,173 15,418 15,200 14,552 14,534 15,766 15,078 15,355 16,343 16,929
Invested Capital Turnover		 0.30 0.24 0.20 0.18 0.19 0.18 0.21 0.34 0.35 0.36 0.38
Increase / (Decrease) in Invested Capital		 1,330 848 989 793 -446 -639 348 -122 803 1,809 1,163
Enterprise Value (EV)		 17,196 18,579 19,243 18,256 21,837 24,845 23,395 23,347 25,917 24,872 28,050
Market Capitalization		 9,990 10,837 11,201 10,601 14,264 17,086 14,623 15,683 18,266 15,876 18,721
Book Value per Share		 $17.11 $17.01 $16.47 $16.45 $14.39 $14.05 $13.98 $15.56 $15.68 $15.44 $16.23
Tangible Book Value per Share		 $14.64 $14.63 $14.16 $14.24 $12.27 $12.02 $12.03 $13.68 $13.90 $13.77 $14.64
Total Capital		 14,998 15,173 15,418 15,200 14,552 14,534 15,766 15,078 15,355 16,343 16,929
Total Debt		 8,177 8,362 8,774 8,695 8,768 8,794 10,036 8,742 9,008 9,958 10,211
Total Long-Term Debt		 8,177 8,362 8,774 8,695 8,768 8,794 10,036 8,742 9,008 9,958 10,211
Net Debt		 6,606 7,106 7,362 7,070 6,979 7,090 8,072 6,875 6,911 8,188 8,473
Capital Expenditures (CapEx)		 16 13 20 17 17 14 18 19 27 17 18
Net Nonoperating Expense (NNE)		 0.00 0.00 14 0.07 80 0.00 -0.20 -0.08 0.00 0.00 -0.07
Net Nonoperating Obligations (NNO)		 8,177 8,362 8,774 8,695 8,768 8,794 10,036 8,742 9,008 9,958 10,211
Total Depreciation and Amortization (D&A)		 45 44 44 49 44 45 46 46 47 47 48
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.34 $0.28 ($0.27) $0.23 ($1.92) $0.18 $0.41 $1.67 $0.59 $0.36 $0.89
Adjusted Weighted Average Basic Shares Outstanding		 361.28M 362.94M 361.26M 360.57M 361.40M 360.91M 358.32M 357.69M 358.58M 359.46M 360.36M
Adjusted Diluted Earnings per Share		 $0.34 $0.28 ($0.27) $0.22 ($1.91) $0.18 $0.40 $1.63 $0.56 $0.35 $0.87
Adjusted Weighted Average Diluted Shares Outstanding		 365.71M 365.36M 361.26M 363.66M 361.40M 369.34M 366.90M 364.79M 368.02M 366.34M 366.97M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 364.22M 362.11M 359.95M 360.80M 362.11M 359.88M 356.38M 357.68M 361.20M 361.14M 361.70M
Normalized Net Operating Profit after Tax (NOPAT)		 159 125 -49 111 -590 99 149 616 227 159 328
Normalized NOPAT Margin		 21.29% 15.04% -10.96% 16.43% -66.71% 15.19% 14.42% 23.61% 22.45% 16.67% 20.61%
Pre Tax Income Margin		 23.03% 19.16% -15.66% 22.52% -95.30% 18.55% 21.16% 30.25% 26.21% 17.97% 27.68%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.07 5.37 -2.28 4.85 -26.33 3.92 7.19 26.03 9.00 6.15 15.73
NOPAT to Interest Expense		 5.58 4.22 -1.60 3.54 -18.43 3.21 4.90 20.32 7.71 5.71 11.72
EBIT Less CapEx to Interest Expense		 5.52 4.94 -2.92 4.31 -26.86 3.46 6.61 25.40 8.09 5.55 15.11
NOPAT Less CapEx to Interest Expense		 5.04 3.78 -2.23 2.99 -18.97 2.75 4.32 19.69 6.80 5.10 11.09
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 34.53% 57.96% 95.63% 147.38% -100.20% -96.71% -162.24% 260.52% 46.10% 43.68% 37.86%
Augmented Payout Ratio		 48.98% 83.17% 143.51% 220.35% -141.17% -145.11% -281.46% 507.86% 96.93% 94.17% 75.94%

Financials Breakdown Chart

Key Financial Trends

Analysis of Carlyle Group Inc. (NASDAQ: CGABL) Financial Statements (Q2 2022 - Q2 2025)

The financial data for Carlyle Group Inc. shows several key trends over the last four years, reflecting its operational performance, liquidity, and capital structure changes. Below are some important observations for retail investors interested in understanding the company's financial health and trajectory.

  • Consolidated Net Income has shown recovery and improvement after a significant loss in Q4 2023. For example, the company reported a net income of $328.1 million in Q2 2025, up from a loss of $670.3 million in Q4 2023, indicating a positive turnaround.
  • Total Revenue has generally increased over time, with Q2 2025 showing $1.59 billion in total revenue, up from $447 million in Q2 2023 and $445 million in Q2 2022, reflecting business growth and strong non-interest income streams.
  • Other Service Charges and Investment Banking Income have been significant contributors to non-interest income, reaching approximately $824 million and $694 million respectively in Q2 2025, supporting overall revenue growth.
  • Net Cash From Financing Activities shows strong positive inflows in recent quarters, with $230.2 million in Q2 2025, reflecting healthy financing activity including debt issuance and equity management.
  • Cash and cash equivalents have generally increased from $1.24 billion in Q1 2023 up to $1.74 billion in Q2 2025, demonstrating improved liquidity.
  • Long-term Debt levels have fluctuated but generally increased to about $10.2 billion by Q2 2025 from $8.36 billion in Q1 2023, which suggests higher leverage but also capacity for growth investments and financing operations.
  • Diluted earnings per share (EPS) have recovered since the loss quarter in Q4 2023 (-$1.91 EPS) back to $0.87 EPS in Q2 2025, showing improved profitability per share.
  • The Company consistently paid a quarterly dividend of $0.35 per share from at least Q1 2023 through Q2 2025, signaling steady shareholder returns despite earnings volatility.
  • The company experienced a severe loss in Q4 2023, with a net loss of $670.3 million and negative pre-tax income (-$842.7 million), which may have worried investors at that time.
  • Net cash from continuing operating activities was negative in several quarters, including Q2 2025 (-$168.8 million) and Q2 2024 (-$1.27 billion), indicating periods of operating cash challenges that require attention.

Summary: Carlyle Group has shown considerable recovery and growth since the large loss in late 2023. The company’s revenue streams, especially from service charges and investment banking, have improved, as have net income and EPS figures. However, increased long-term debt and intermittent negative operating cash flow periods present risks. The consistent dividend payments and increasing cash reserves provide positive support for investor confidence. Retail investors should watch for sustained operating cash flow improvement and debt management to confirm the ongoing financial health of the company.

10/24/25 09:23 PM ETAI 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 10 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 $915.10 million in 2014. 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 10 years?

Over the last 10 years, Carlyle Group's total revenue changed from $4.77 billion in 2014 to $5.30 billion in 2024, a change of 11.3%.

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 27.6% decrease since 2014.

How much cash does Carlyle Group have?

In the past 10 years, Carlyle Group's cash and equivalents has ranged from $877.10 million in 2018 to $2.79 billion in 2014, 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 10 years?

Over the last 10 years, Carlyle Group's book value per share changed from 10.56 in 2014 to 15.68 in 2024, a change of 48.4%.


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This page (NASDAQ:CG) was last updated on 10/24/2025 by MarketBeat.com Staff
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