Carlyle Secured Lending (CGBD) Financials

$13.81 0.00 (0.00%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$13.81 0.00 (0.00%)

As of 05/23/2025 05:29 PM Eastern

Annual Income Statements for Carlyle Secured Lending

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

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Net Income / (Loss) Attributable to Common Shareholders	85	89	82	157
Consolidated Net Income / (Loss)	72	88	114	92
Net Income / (Loss) Continuing Operations	72	88	114	92
Total Pre-Tax Income	72	88	9.85	5.03
Total Operating Income	172	179	148	111
Total Gross Profit	228	237	207	165
Total Revenue	228	237	207	165
Operating Revenue	228	237	207	165
Total Cost of Revenue	0.00	0.00	0.00	0.00
Total Operating Expenses	56	58	59	54
Selling, General & Admin Expense	6.96	5.93	6.57	6.27
Other Operating Expenses / (Income)	49	52	53	47
Total Other Income / (Expense), net	-100	-91	-138	-106
Interest Expense	68	72	44	31
Interest & Investment Income	-38	-21	-100	-84
Other Income / (Expense), net	6.68	1.47	6.23	8.18
Preferred Stock Dividends Declared	3.50	3.50	3.50	3.50
Basic Earnings per Share	$1.68	$1.75	$1.58	$2.89
Weighted Average Basic Shares Outstanding	50.83M	50.82M	52.11M	54.24M
Diluted Earnings per Share	$1.58	$1.64	$1.49	$2.69
Weighted Average Diluted Shares Outstanding	56.47M	56.31M	57.48M	59.53M
Weighted Average Basic & Diluted Shares Outstanding	50.96M	101.59M	101.64M	-

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	20	19	18	28	19	29	14	27	12	37
Consolidated Net Income / (Loss)	4.83	17	28	26	26	24	14	21	44	36
Net Income / (Loss) Continuing Operations	4.83	17	28	26	26	24	14	21	31	36
Total Pre-Tax Income	16	-8.33	0.82	-2.61	49	-2.73	14	-6.00	-60	4.49
Total Operating Income	148	41	43	45	125	45	20	43	89	43
Total Gross Profit	186	55	58	60	157	60	28	57	105	59
Total Revenue	186	55	58	60	157	60	28	57	105	59
Operating Revenue	186	55	58	60	157	60	28	57	105	59
Total Operating Expenses	38	14	15	16	33	15	8.31	15	28	16
Selling, General & Admin Expense	2.79	1.61	1.44	1.96	2.17	1.61	1.01	1.17	2.53	1.72
Other Operating Expenses / (Income)	36	13	13	14	31	14	7.29	13	26	14
Total Other Income / (Expense), net	-116	-49	-43	-47	-71	-47	-5.59	-49	-119	-39
Interest Expense	17	17	17	18	-	18	-	17	-	12
Interest & Investment Income	-54	-30	-26	-33	-	-33	-	-31	-82	-32
Other Income / (Expense), net	-45	-1.84	0.16	3.45	-25	3.47	-5.59	-0.32	-13	5.39
Preferred Stock Dividends Declared	0.88	0.88	0.88	0.88	-	0.88	-	0.88	0.88	0.88
Basic Earnings per Share	$0.40	$0.37	$0.35	$0.56	$0.57	$0.57	$0.08	$0.53	$0.24	$0.71
Weighted Average Basic Shares Outstanding	50.83M	50.84M	50.79M	50.79M	50.82M	50.79M	50.79M	50.89M	52.11M	51.86M
Diluted Earnings per Share	$0.38	$0.35	$0.33	$0.52	-	$0.54	-	$0.50	$0.23	$0.66
Weighted Average Diluted Shares Outstanding	56.47M	56.45M	56.37M	56.33M	56.31M	55.99M	50.79M	56.29M	57.48M	57.18M
Weighted Average Basic & Diluted Shares Outstanding	50.96M	50.91M	50.85M	50.79M	101.59M	50.79M	50.79M	50.79M	101.64M	51.36M

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

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Net Change in Cash & Equivalents	-3.87	30	-63	25
Net Cash From Operating Activities	104	231	15	75
Net Cash From Continuing Operating Activities	104	231	15	75
Net Income / (Loss) Continuing Operations	89	92	86	160
Consolidated Net Income / (Loss)	89	92	86	160
Depreciation Expense	-18	-7.08	26	-53
Amortization Expense	-7.52	-7.15	-8.61	-8.04
Non-Cash Adjustments To Reconcile Net Income	42	152	-88	-24
Changes in Operating Assets and Liabilities, net	-0.85	0.50	-0.44	-0.49
Net Cash From Investing Activities	0.00	0.00	0.00	0.00
Net Cash From Continuing Investing Activities	0.00	0.00	0.00	0.00
Net Cash From Financing Activities	-108	-201	-77	-51
Net Cash From Continuing Financing Activities	-108	-201	-77	-51
Repayment of Debt	-1,183	-355	-334	-358
Repurchase of Common Equity	0.00	-3.99	-28	-28
Payment of Dividends	-96	-93	-87	-84
Issuance of Debt	1,171	252	372	419
Cash Interest Paid	64	68	38	29
Cash Income Taxes Paid	2.43	1.84	0.77	0.64

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-12	-24	22	9.47	5.23	1.07	11	12	-38	29
Net Cash From Operating Activities	-111	63	71	81	56	57	92	26	-20	72
Net Cash From Continuing Operating Activities	-111	63	71	81	56	57	92	26	-20	72
Net Income / (Loss) Continuing Operations	21	20	19	29	30	30	4.71	28	12	38
Consolidated Net Income / (Loss)	21	20	19	29	30	30	4.71	28	12	38
Depreciation Expense	-3.42	-9.09	12	-18	-3.40	-0.32	13	-16	6.87	-5.80
Amortization Expense	-1.55	-0.86	-2.47	-2.64	-2.26	-1.69	-1.63	-1.56	-1.77	-2.25
Non-Cash Adjustments To Reconcile Net Income	-125	51	41	76	30	29	76	17	-39	44
Changes in Operating Assets and Liabilities, net	-2.26	2.66	2.12	-3.38	2.25	-0.06	0.38	-2.07	1.60	-1.57
Net Cash From Financing Activities	99	-86	-49	-72	-51	-56	-81	-13	-18	-43
Net Cash From Continuing Financing Activities	99	-86	-49	-72	-51	-56	-81	-13	-18	-43
Repayment of Debt	-441	-553	-91	-97	-170	-67	-88	-31	-48	-125
Payment of Dividends	-24	-24	-25	-23	-23	-23	-23	-23	-22	-22
Issuance of Debt	564	491	67	49	143	34	30	45	59	111
Cash Interest Paid	15	17	14	18	17	18	17	17	14	9.46

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

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Total Assets	1,926	1,943	2,042	2,031
Total Current Assets	6.17	5.50	5.76	4.55
Prepaid Expenses	6.17	5.50	5.76	4.55
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00
Total Noncurrent Assets	299	277	56	298
Long-Term Investments	25	0.04	1.53	0.53
Other Noncurrent Operating Assets	274	277	55	297
Total Liabilities & Shareholders' Equity	1,926	1,943	2,042	2,031
Total Liabilities	1,021	1,030	1,124	1,083
Total Current Liabilities	28	25	26	23
Accrued Expenses	5.06	2.61	3.21	2.73
Dividends Payable	23	22	22	21
Total Noncurrent Liabilities	993	1,005	1,099	1,059
Long-Term Debt	972	989	1,084	1,046
Other Noncurrent Operating Liabilities	21	16	15	13
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	905	913	917	949
Total Preferred & Common Equity	905	913	917	949
Preferred Stock	50	50	50	50
Total Common Equity	855	863	867	899
Common Stock	1,015	1,016	1,023	1,053
Retained Earnings	-158	-152	-154	-153
Other Equity Adjustments	-1.63	-1.63	-1.63	-1.63

This table presents Carlyle Secured Lending'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 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,817	1,867	1,895	1,957	1,983	2,055	2,054
Total Current Assets	7.04	6.34	6.25	7.52	5.93	5.89	3.66
Prepaid Expenses	7.04	6.34	6.25	7.52	5.93	5.89	3.66
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	110	143	113	98	90	86	111
Long-Term Investments	1.16	9.64	0.07	0.00	1.40	6.91	-
Other Noncurrent Operating Assets	109	134	113	98	89	79	106
Total Liabilities & Shareholders' Equity	1,817	1,867	1,895	1,957	1,983	2,055	2,054
Total Liabilities	910	956	978	1,050	1,083	1,137	1,118
Total Current Liabilities	29	27	25	24	24	24	23
Accrued Expenses	5.19	2.91	0.18	2.14	2.07	1.45	2.87
Dividends Payable	24	24	24	22	22	22	21
Total Noncurrent Liabilities	881	929	954	1,026	1,059	1,113	1,095
Long-Term Debt	857	916	938	1,011	1,044	1,099	619
Other Noncurrent Operating Liabilities	24	13	16	15	14	14	476
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	907	911	917	906	900	918	936
Total Preferred & Common Equity	907	911	917	906	900	918	936
Preferred Stock	50	50	50	50	50	50	50
Total Common Equity	857	861	867	856	850	868	886
Common Stock	1,017	1,016	1,016	1,019	1,019	1,019	1,032
Retained Earnings	-159	-154	-148	-161	-167	-149	-145
Other Equity Adjustments	-1.63	-1.63	-1.63	-1.63	-1.63	-1.63	-1.63

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

Metric	2024	2023	2022	2021
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Growth Metrics	-	-	-	-
Revenue Growth	-3.68%	14.17%	21.03%	84.43%
EBITDA Growth	-8.26%	-2.84%	191.85%	58.98%
EBIT Growth	-1.16%	17.08%	29.18%	223.52%
NOPAT Growth	-4.09%	21.02%	25.85%	100.53%
Net Income Growth	-18.21%	-23.06%	2.68%	148.98%
EPS Growth	-3.66%	10.07%	-44.61%	0.00%
Operating Cash Flow Growth	-54.79%	1,489.09%	-80.76%	-75.28%
Free Cash Flow Firm Growth	518.00%	-157.32%	25.85%	0.00%
Invested Capital Growth	-69.26%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	14.35%	28.69%	0.00%	0.00%
EBITDA Q/Q Growth	2.12%	8.91%	0.00%	0.00%
EBIT Q/Q Growth	1.41%	15.59%	0.00%	0.00%
NOPAT Q/Q Growth	15.51%	78.49%	0.00%	0.00%
Net Income Q/Q Growth	-22.95%	-16.54%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-61.55%	48.97%	-88.70%	0.00%
Free Cash Flow Firm Q/Q Growth	138.43%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	66.96%	70.30%	82.61%	35.59%
Operating Margin	75.38%	75.70%	71.41%	67.46%
EBIT Margin	78.31%	76.32%	74.42%	72.43%
Profit (Net Income) Margin	31.45%	37.03%	54.95%	55.74%
Tax Burden Percent	100.00%	100.00%	1,156.37%	1,827.00%
Interest Burden Percent	40.16%	48.53%	6.39%	4.21%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	99.57%	135.72%	0.00%	77.62%
ROIC Less NNEP Spread (ROIC-NNEP)	113.16%	163.92%	0.00%	83.45%
Return on Net Nonoperating Assets (RNNOA)	-91.68%	-116.52%	0.00%	-58.25%
Return on Equity (ROE)	7.89%	19.20%	0.00%	19.37%
Cash Return on Invested Capital (CROIC)	205.53%	-64.28%	0.00%	-122.38%
Operating Return on Assets (OROA)	9.23%	9.30%	0.00%	5.88%
Return on Assets (ROA)	3.71%	4.51%	0.00%	4.52%
Return on Common Equity (ROCE)	7.45%	18.15%	0.00%	18.35%
Return on Equity Simple (ROE_SIMPLE)	7.92%	9.60%	0.00%	9.68%
Net Operating Profit after Tax (NOPAT)	172	179	148	111
NOPAT Margin	75.38%	75.70%	71.41%	67.46%
Net Nonoperating Expense Percent (NNEP)	-13.59%	-28.20%	0.00%	-5.84%
Return On Investment Capital (ROIC_SIMPLE)	9.15%	9.42%	-	5.57%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	3.05%	2.51%	3.17%	3.80%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.62%	24.30%	28.59%	32.54%
Earnings before Interest and Taxes (EBIT)	178	181	154	119
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	153	166	171	59
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	1.07	0.79	0.00	0.00
Price to Tangible Book Value (P/TBV)	1.07	0.79	0.00	0.00
Price to Revenue (P/Rev)	4.00	2.88	2.82	0.00
Price to Earnings (P/E)	10.68	7.69	7.12	0.00
Dividend Yield	8.20%	11.02%	11.77%	7.54%
Earnings Yield	9.36%	13.01%	14.04%	0.00%
Enterprise Value to Invested Capital (EV/IC)	23.53	6.52	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	8.38	7.27	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	12.51	10.35	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	10.70	9.53	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	11.11	9.61	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.31	7.46	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	5.38	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	1.07	1.08	0.00	1.10
Long-Term Debt to Equity	1.07	1.08	0.00	1.10
Financial Leverage	-0.81	-0.71	0.00	-0.70
Leverage Ratio	2.13	2.13	0.00	2.14
Compound Leverage Factor	0.85	1.03	0.00	0.09
Debt to Total Capital	51.77%	52.00%	0.00%	52.45%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	51.77%	52.00%	0.00%	52.45%
Preferred Equity to Total Capital	2.66%	2.63%	0.00%	2.51%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.56%	45.37%	0.00%	45.05%
Debt to EBITDA	6.37	5.94	0.00	17.84
Net Debt to EBITDA	6.20	5.94	0.00	17.83
Long-Term Debt to EBITDA	6.37	5.94	0.00	17.84
Debt to NOPAT	5.66	5.52	0.00	9.41
Net Debt to NOPAT	5.51	5.52	0.00	9.41
Long-Term Debt to NOPAT	5.66	5.52	0.00	9.41
Altman Z-Score	0.83	0.70	0.00	0.00
Noncontrolling Interest Sharing Ratio	5.50%	5.48%	0.00%	5.27%
Liquidity Ratios	-	-	-	-
Current Ratio	0.22	0.22	0.00	0.19
Quick Ratio	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	355	-85	148	-175
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	5.18	-1.18	3.37	-5.70
Operating Cash Flow to Interest Expense	1.52	3.22	0.33	2.45
Operating Cash Flow Less CapEx to Interest Expense	1.52	3.22	0.33	2.45
Efficiency Ratios	-	-	-	-
Asset Turnover	0.12	0.12	0.00	0.08
Accounts Receivable Turnover	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-
Invested Capital	81	264	0.00	287
Invested Capital Turnover	1.32	1.79	0.00	1.15
Increase / (Decrease) in Invested Capital	-183	264	0.00	287
Enterprise Value (EV)	1,909	1,721	0.00	0.00
Market Capitalization	913	682	585	0.00
Book Value per Share	$16.80	$16.99	$0.00	$16.57
Tangible Book Value per Share	$16.80	$16.99	$0.00	$16.57
Total Capital	1,877	1,902	0.00	1,995
Total Debt	972	989	0.00	1,046
Total Long-Term Debt	972	989	0.00	1,046
Net Debt	946	989	0.00	1,046
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-22	-19	0.00	-19
Debt-free Net Working Capital (DFNWC)	-22	-19	0.00	-19
Net Working Capital (NWC)	-22	-19	0.00	-19
Net Nonoperating Expense (NNE)	100	91	34	19
Net Nonoperating Obligations (NNO)	-824	-649	0.00	-662
Total Depreciation and Amortization (D&A)	-26	-14	17	-61
Debt-free, Cash-free Net Working Capital to Revenue	-9.56%	-8.21%	0.00%	-11.46%
Debt-free Net Working Capital to Revenue	-9.56%	-8.21%	0.00%	-11.46%
Net Working Capital to Revenue	-9.56%	-8.21%	0.00%	-11.46%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$1.68	$1.75	$1.58	$0.00
Adjusted Weighted Average Basic Shares Outstanding	50.83M	50.82M	52.11M	0.00
Adjusted Diluted Earnings per Share	$1.58	$1.64	$1.49	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	56.47M	56.31M	57.48M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.96M	101.59M	101.64M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	120	125	104	78
Normalized NOPAT Margin	52.77%	52.99%	49.99%	47.22%
Pre Tax Income Margin	31.45%	37.03%	4.75%	3.05%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	2.61	2.52	3.51	3.88
NOPAT to Interest Expense	2.51	2.50	3.37	3.62
EBIT Less CapEx to Interest Expense	2.61	2.52	3.51	3.88
NOPAT Less CapEx to Interest Expense	2.51	2.50	3.37	3.62
Payout Ratios	-	-	-	-
Dividend Payout Ratio	133.94%	106.15%	76.23%	91.05%
Augmented Payout Ratio	133.94%	110.71%	101.22%	122.01%

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.18%	-8.05%	109.39%	4.90%	50.43%	1.00%	0.00%	26.81%	0.00%	35.15%
EBITDA Growth	3.36%	-37.13%	115.23%	8.07%	16.85%	13.84%	56.68%	-29.70%	0.00%	36.57%
EBIT Growth	2.48%	-19.05%	213.43%	12.72%	32.20%	-0.92%	497.80%	21.51%	0.00%	63.76%
NOPAT Growth	18.51%	-8.61%	122.79%	3.83%	100.35%	-27.60%	299.18%	-2.84%	0.00%	45.55%
Net Income Growth	-81.54%	-32.11%	98.84%	25.58%	-39.87%	-31.59%	0.00%	-34.26%	0.00%	-26.03%
EPS Growth	0.00%	-35.19%	0.00%	4.00%	0.00%	-18.18%	0.00%	-5.66%	0.00%	-17.50%
Operating Cash Flow Growth	-299.12%	9.88%	-22.29%	216.95%	379.13%	-20.75%	203.93%	-49.69%	-121.28%	0.00%
Free Cash Flow Firm Growth	337.16%	107.02%	96.21%	92.14%	0.00%	-203.36%	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	-69.26%	-1.16%	58.39%	49.44%	0.00%	124.16%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	2,501.18%	-5.73%	-3.26%	-61.73%	160.11%	114.67%	-51.53%	-45.12%	76.88%	797.44%
EBITDA Q/Q Growth	6,236.84%	-46.08%	98.73%	-71.38%	104.98%	84.59%	-0.21%	-69.05%	99.70%	154.06%
EBIT Q/Q Growth	792.41%	-10.92%	-9.02%	-52.02%	108.18%	244.91%	-67.28%	-43.73%	56.03%	1,484.75%
NOPAT Q/Q Growth	1,710.98%	-34.45%	39.52%	-74.98%	292.64%	59.81%	-34.98%	-51.73%	44.32%	539.69%
Net Income Q/Q Growth	-65.87%	-40.21%	7.17%	-1.33%	8.01%	75.09%	-32.31%	-52.75%	22.16%	788.29%
EPS Q/Q Growth	8.57%	6.06%	-36.54%	0.00%	0.00%	0.00%	0.00%	117.39%	-65.15%	842.86%
Operating Cash Flow Q/Q Growth	-276.70%	-12.03%	-11.74%	45.15%	-2.50%	-37.79%	259.98%	227.83%	-127.68%	181.59%
Free Cash Flow Firm Q/Q Growth	3,705.53%	1,424.35%	27.79%	97.78%	-539.14%	-616.08%	-49.65%	0.00%	-100.00%	0.00%
Invested Capital Q/Q Growth	0.00%	-29.89%	19.76%	-60.77%	0.00%	12.35%	12.99%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	52.44%	52.69%	92.11%	44.84%	59.96%	77.06%	89.62%	43.53%	77.19%	68.36%
Operating Margin	79.40%	74.15%	74.64%	73.94%	79.18%	74.61%	70.15%	74.70%	84.92%	72.86%
EBIT Margin	55.11%	70.80%	74.92%	79.67%	63.55%	80.42%	50.05%	74.14%	72.31%	81.97%
Profit (Net Income) Margin	2.60%	30.14%	47.53%	42.90%	16.64%	40.82%	50.05%	35.84%	41.63%	60.27%
Tax Burden Percent	30.32%	-198.80%	3,381.20%	-990.00%	52.92%	-894.53%	100.00%	-343.20%	-72.14%	793.21%
Interest Burden Percent	15.56%	-21.42%	1.88%	-5.44%	49.48%	-5.67%	100.00%	-14.08%	-79.81%	9.27%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	104.88%	157.32%	199.13%	143.39%	141.96%	0.00%	0.00%	331.10%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	124.28%	158.78%	201.10%	144.03%	172.29%	0.00%	0.00%	333.33%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-100.69%	-143.46%	-178.62%	-130.46%	-122.47%	0.00%	0.00%	-308.17%	0.00%	0.00%
Return on Equity (ROE)	4.20%	13.86%	20.51%	12.93%	19.49%	10.50%	0.00%	22.93%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	205.53%	230.87%	157.19%	169.50%	-64.28%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	6.49%	9.95%	10.51%	9.66%	7.74%	9.05%	0.00%	7.91%	0.00%	0.00%
Return on Assets (ROA)	0.31%	4.23%	6.66%	5.20%	2.03%	4.60%	0.00%	3.83%	0.00%	0.00%
Return on Common Equity (ROCE)	3.96%	13.09%	19.37%	12.22%	18.42%	9.93%	0.00%	21.68%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	10.90%	11.71%	10.13%	0.00%	10.67%	0.00%	11.24%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	148	29	43	31	125	31	20	30	62	43
NOPAT Margin	79.40%	51.90%	74.64%	51.76%	79.18%	52.22%	70.15%	52.29%	59.45%	72.86%
Net Nonoperating Expense Percent (NNEP)	-19.39%	-1.46%	-1.96%	-0.64%	-30.33%	-0.64%	-1.36%	-2.23%	0.00%	-1.15%
Return On Investment Capital (ROIC_SIMPLE)	7.87%	1.62%	2.38%	1.68%	6.55%	1.63%	1.00%	1.49%	-	2.77%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	1.50%	2.93%	2.47%	3.25%	1.38%	2.69%	3.64%	2.04%	2.41%	2.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.60%	25.85%	25.36%	26.06%	20.82%	25.39%	29.85%	25.30%	27.16%	27.14%
Earnings before Interest and Taxes (EBIT)	102	39	44	48	100	48	14	43	76	48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	98	29	54	27	94	46	25	25	81	40
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.07	0.98	0.99	0.88	0.79	0.75	0.74	0.66	0.00	0.00
Price to Tangible Book Value (P/TBV)	1.07	0.98	0.99	0.88	0.79	0.75	0.74	0.66	0.00	0.00
Price to Revenue (P/Rev)	4.00	3.18	3.17	3.19	2.88	2.85	0.00	2.59	2.82	0.00
Price to Earnings (P/E)	10.68	10.07	9.10	8.49	7.69	8.42	0.00	7.16	7.12	0.00
Dividend Yield	8.20%	8.40%	7.66%	7.90%	11.02%	11.62%	11.68%	12.42%	11.77%	14.73%
Earnings Yield	9.36%	9.94%	10.99%	11.78%	13.01%	11.88%	0.00%	13.97%	14.04%	0.00%
Enterprise Value to Invested Capital (EV/IC)	23.53	20.10	14.61	16.93	6.52	19.36	21.95	24.69	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	8.38	6.59	6.71	7.32	7.27	7.54	0.00	7.80	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	12.51	9.71	9.19	10.41	10.35	10.47	0.00	10.65	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	10.70	8.46	8.40	9.42	9.53	10.26	0.00	10.58	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	11.11	8.70	8.85	9.70	9.61	14.54	0.00	15.28	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.31	6.44	6.82	6.13	7.46	11.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	5.38	8.66	11.40	11.97	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.07	0.95	1.01	1.02	1.08	1.11	1.16	1.20	0.00	0.66
Long-Term Debt to Equity	1.07	0.95	1.01	1.02	1.08	1.11	1.16	1.20	0.00	0.66
Financial Leverage	-0.81	-0.90	-0.89	-0.91	-0.71	-1.15	-0.91	-0.92	0.00	-1.39
Leverage Ratio	2.13	2.08	2.13	2.15	2.13	2.18	2.20	2.24	0.00	2.20
Compound Leverage Factor	0.33	-0.45	0.04	-0.12	1.05	-0.12	2.20	-0.32	0.00	0.20
Debt to Total Capital	51.77%	48.59%	50.15%	50.58%	52.00%	52.72%	53.72%	54.49%	0.00%	39.81%
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	51.77%	48.59%	50.15%	50.58%	52.00%	52.72%	53.72%	54.49%	0.00%	39.81%
Preferred Equity to Total Capital	2.66%	2.84%	2.74%	2.70%	2.63%	2.61%	2.57%	2.48%	0.00%	3.22%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.56%	48.57%	47.12%	46.73%	45.37%	44.67%	43.71%	43.03%	0.00%	56.97%
Debt to EBITDA	6.37	4.76	4.65	5.57	5.94	6.21	0.00	6.84	0.00	0.00
Net Debt to EBITDA	6.20	4.75	4.60	5.57	5.94	6.21	0.00	6.80	0.00	0.00
Long-Term Debt to EBITDA	6.37	4.76	4.65	5.57	5.94	6.21	0.00	6.84	0.00	0.00
Debt to NOPAT	5.66	4.27	4.47	5.19	5.52	8.63	0.00	9.82	0.00	0.00
Net Debt to NOPAT	5.51	4.26	4.43	5.19	5.52	8.63	0.00	9.76	0.00	0.00
Long-Term Debt to NOPAT	5.66	4.27	4.47	5.19	5.52	8.63	0.00	9.82	0.00	0.00
Altman Z-Score	0.70	0.63	0.63	0.56	0.57	0.44	0.24	0.36	0.00	0.00
Noncontrolling Interest Sharing Ratio	5.50%	5.52%	5.52%	5.45%	5.48%	5.43%	5.56%	5.45%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.22	0.24	0.24	0.25	0.22	0.31	0.24	0.25	0.00	0.16
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	330	30	-2.23	-3.09	-139	-421	-59	-39	0.00	407
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	19.30	1.75	-0.13	-0.17	0.00	-23.10	0.00	-2.27	0.00	34.11
Operating Cash Flow to Interest Expense	-6.49	3.73	4.30	4.53	0.00	3.14	0.00	1.48	0.00	6.05
Operating Cash Flow Less CapEx to Interest Expense	-6.49	3.73	4.30	4.53	0.00	3.14	0.00	1.48	0.00	6.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.14	0.14	0.12	0.12	0.11	0.00	0.11	0.00	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	81	87	124	104	264	88	78	69	0.00	-364
Invested Capital Turnover	1.32	3.03	2.67	2.77	1.79	-1.64	0.00	6.33	0.00	0.00
Increase / (Decrease) in Invested Capital	-183	-1.02	46	34	264	452	78	69	0.00	-364
Enterprise Value (EV)	1,909	1,748	1,812	1,753	1,721	1,703	1,719	1,711	0.00	0.00
Market Capitalization	913	842	855	765	682	643	626	569	585	0.00
Book Value per Share	$16.80	$16.85	$16.95	$17.07	$16.99	$16.86	$16.73	$17.08	$0.00	$17.08
Tangible Book Value per Share	$16.80	$16.85	$16.95	$17.07	$16.99	$16.86	$16.73	$17.08	$0.00	$17.08
Total Capital	1,877	1,764	1,827	1,855	1,902	1,917	1,944	2,018	0.00	1,555
Total Debt	972	857	916	938	989	1,011	1,044	1,099	0.00	619
Total Long-Term Debt	972	857	916	938	989	1,011	1,044	1,099	0.00	619
Net Debt	946	856	906	938	989	1,011	1,043	1,093	0.00	619
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-22	-22	-20	-18	-19	-17	-18	-18	0.00	-20
Debt-free Net Working Capital (DFNWC)	-22	-22	-20	-18	-19	-17	-18	-18	0.00	-20
Net Working Capital (NWC)	-22	-22	-20	-18	-19	-17	-18	-18	0.00	-20
Net Nonoperating Expense (NNE)	143	12	16	5.33	98	6.81	5.59	9.45	19	7.44
Net Nonoperating Obligations (NNO)	-824	-820	-787	-813	-649	-818	-821	-849	0.00	-1,300
Total Depreciation and Amortization (D&A)	-4.96	-9.95	10	-21	-5.65	-2.01	11	-18	5.10	-8.05
Debt-free, Cash-free Net Working Capital to Revenue	-9.56%	-8.32%	-7.56%	-7.64%	-8.21%	-7.50%	0.00%	-8.15%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	-9.56%	-8.32%	-7.56%	-7.64%	-8.21%	-7.50%	0.00%	-8.15%	0.00%	0.00%
Net Working Capital to Revenue	-9.56%	-8.32%	-7.56%	-7.64%	-8.21%	-7.50%	0.00%	-8.15%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.40	$0.37	$0.35	$0.56	$0.57	$0.57	$0.08	$0.53	$0.24	$0.71
Adjusted Weighted Average Basic Shares Outstanding	50.83M	50.84M	50.79M	50.79M	50.82M	50.79M	50.79M	50.89M	52.11M	51.86M
Adjusted Diluted Earnings per Share	$0.38	$0.35	$0.33	$0.52	$0.00	$0.54	$0.00	$0.50	$0.23	$0.66
Adjusted Weighted Average Diluted Shares Outstanding	56.47M	56.45M	56.37M	56.33M	56.31M	55.99M	50.79M	56.29M	57.48M	57.18M
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	50.96M	50.91M	50.85M	50.79M	101.59M	50.79M	50.79M	50.79M	101.64M	51.36M
Normalized Net Operating Profit after Tax (NOPAT)	103	29	30	31	87	31	14	30	62	30
Normalized NOPAT Margin	55.58%	51.90%	52.25%	51.76%	55.42%	52.22%	49.11%	52.29%	59.45%	51.00%
Pre Tax Income Margin	8.57%	-15.16%	1.41%	-4.33%	31.44%	-4.56%	50.05%	-10.44%	-57.71%	7.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.98	2.30	2.63	2.69	0.00	2.64	0.00	2.46	0.00	4.06
NOPAT to Interest Expense	8.62	1.69	2.62	1.75	0.00	1.71	0.00	1.74	0.00	3.61
EBIT Less CapEx to Interest Expense	5.98	2.30	2.63	2.69	0.00	2.64	0.00	2.46	0.00	4.06
NOPAT Less CapEx to Interest Expense	8.62	1.69	2.62	1.75	0.00	1.71	0.00	1.74	0.00	3.61
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	133.94%	96.61%	89.00%	100.00%	106.15%	94.47%	0.00%	85.84%	76.23%	0.00%
Augmented Payout Ratio	133.94%	96.61%	89.00%	100.00%	110.71%	106.18%	0.00%	110.50%	101.22%	0.00%

Frequently Asked Questions About Carlyle Secured Lending's Financials

When does Carlyle Secured Lending's fiscal year end?

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

How has Carlyle Secured Lending's net income changed over the last 3 years?

Carlyle Secured Lending's net income appears to be on a downward trend, with a most recent value of $71.68 million in 2024, falling from $91.88 million in 2021. The previous period was $87.63 million in 2023. View Carlyle Secured Lending's forecast to see where analysts expect Carlyle Secured Lending to go next.

What is Carlyle Secured Lending's operating income?

Carlyle Secured Lending's total operating income in 2024 was $171.80 million, based on the following breakdown:

Total Gross Profit: $227.91 million
Total Operating Expenses: $56.11 million

How has Carlyle Secured Lending revenue changed over the last 3 years?

Over the last 3 years, Carlyle Secured Lending's total revenue changed from $164.84 million in 2021 to $227.91 million in 2024, a change of 38.3%.

How much debt does Carlyle Secured Lending have?

Carlyle Secured Lending's total liabilities were at $1.02 billion at the end of 2024, a 0.9% decrease from 2023, and a 5.7% decrease since 2021.

How has Carlyle Secured Lending's book value per share changed over the last 3 years?

Over the last 3 years, Carlyle Secured Lending's book value per share changed from 16.57 in 2021 to 16.80 in 2024, a change of 1.4%.

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This page (NASDAQ:CGBD) was last updated on 5/24/2025 by MarketBeat.com Staff

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Carlyle Secured Lending (CGBD) Financials

Frequently Asked Questions About Carlyle Secured Lending's Financials

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Carlyle Secured Lending (CGBD) Financials

Annual Income Statements for Carlyle Secured Lending

Quarterly Income Statements for Carlyle Secured Lending

Annual Cash Flow Statements for Carlyle Secured Lending

Quarterly Cash Flow Statements for Carlyle Secured Lending

Annual Balance Sheets for Carlyle Secured Lending

Quarterly Balance Sheets for Carlyle Secured Lending

Annual Metrics And Ratios for Carlyle Secured Lending

Quarterly Metrics And Ratios for Carlyle Secured Lending

Frequently Asked Questions About Carlyle Secured Lending's Financials

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