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.
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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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% |
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.