Carlyle Group Inc. CG
Carlyle is one of the world's largest global investment firms that deploys private capital across three business
segments: Global Private Equity, Global Credit, and Carlyle AlpInvest (formerly, Global Investment Solutions). Our teams
invest across a range of strategies that leverage our deep industry expertise, local insights, and global resources to deliver
attractive returns throughout an investment cycle. Since our firm was founded in Washington, D.C. in 1987, we have grown to
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.78B | $5.43B | $2.96B | $4.44B | $8.78B | $2.93B | $3.38B | $2.43B | $3.68B | $2.27B |
| Cost of revenue | — | — | — | — | — | — | — | — | $64.4M | $31.3M |
| Gross profit | — | — | — | — | — | — | — | — | $3.61B | $2.24B |
| SG&A | — | — | — | $575.8M | $431.7M | $349.3M | $494.4M | $460.7M | $276.8M | $521.1M |
| Total operating expenses | $3.74B | $4.06B | $3.57B | $2.82B | $4.76B | $2.33B | $2.12B | $2.07B | $2.63B | $2.24B |
| Interest expense | $123.9M | $121.0M | $123.8M | $110.4M | $113.3M | $94.0M | $82.1M | $82.2M | $65.5M | $61.3M |
| Pre-tax income | $1.16B | $1.39B | -$600.9M | $1.57B | $4.03B | $580.0M | $1.23B | $360.2M | $1.13B | $45.3M |
| Income tax | $214.5M | $302.6M | $104.2M | $287.8M | $982.3M | $197.2M | $49.0M | $31.3M | $124.9M | $30.0M |
| Net income | $944.7M | $1.09B | -$496.7M | $1.28B | $3.05B | $348.2M | $380.9M | $116.5M | $244.1M | $6.4M |
| EPS, basic | 2.25 | 2.85 | -1.68 | 3.39 | 8.37 | 0.99 | 3.05 | 0.89 | 2.58 | 0.08 |
| EPS, diluted | 2.18 | 2.77 | -1.68 | 3.35 | 8.20 | 0.97 | 2.82 | 0.82 | 2.38 | -0.08 |
| Shares, diluted (wtd. avg.) | $370.9M | $368.0M | $361.4M | $365.7M | $362.6M | $358.4M | $122.6M | $113.4M | $100.1M | $308.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.97B | $1.27B | $1.44B | $1.36B | $2.48B | $989.6M | $828.0M | $638.3M | $1.03B | $684.0M |
| Property, plant and equipment | $224.9M | $185.3M | $161.5M | $139.9M | $143.9M | $149.2M | $108.2M | $95.1M | $100.4M | $106.1M |
| Goodwill | $104.6M | $103.6M | $104.0M | $103.9M | $13.3M | $16.8M | $16.1M | $15.3M | $11.1M | $10.1M |
| Other intangibles | $402.5M | $530.5M | $662.1M | $793.9M | $21.6M | $31.9M | $46.2M | $62.0M | $24.8M | $31.9M |
| Total assets | $29.12B | $23.10B | $21.18B | $21.40B | $21.25B | $15.64B | $13.81B | $12.91B | $12.28B | $9.97B |
| Long-term debt | — | — | — | — | — | — | — | — | — | $144.4M |
| Total liabilities | $22.06B | $16.76B | $15.39B | $14.58B | $15.54B | $12.71B | $10.84B | $10.08B | $9.33B | $8.52B |
| Retained earnings | $1.64B | $2.04B | $2.08B | $3.40B | $2.81B | $348.2M | $0 | — | — | — |
| Total equity | $7.06B | $6.35B | $5.78B | $6.82B | $5.71B | $2.93B | $2.97B | — | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.28B | -$759.5M | $204.9M | -$379.3M | $1.79B | -$169.2M | $358.6M | -$343.5M | -$7.1M | -$300.6M |
| Depreciation and amortisation | $192.1M | $184.1M | $180.6M | $147.4M | $52.0M | $52.1M | $65.6M | $46.9M | $41.3M | — |
| Stock-based compensation | $374.7M | $467.9M | $249.1M | $154.0M | $163.1M | $105.0M | $140.0M | $239.9M | $320.3M | $334.6M |
| Capital expenditure | $99.4M | $77.7M | $66.6M | $40.6M | $41.4M | $61.2M | $27.8M | $31.3M | $34.0M | $25.4M |
| Investing cash flow | -$99.4M | -$77.6M | -$43.6M | -$828.8M | -$32.2M | -$61.2M | -$27.8M | -$99.1M | -$34.0M | -$25.4M |
| Financing cash flow | $3.99B | $682.8M | -$99.6M | $114.8M | -$242.5M | $370.3M | -$149.2M | $72.0M | $318.6M | $15.3M |
| Dividends paid | $505.1M | $503.0M | $497.7M | $443.6M | $355.8M | $351.3M | $154.9M | $129.8M | $118.1M | $140.9M |
| Buybacks | $686.5M | $554.6M | $203.5M | $185.6M | $161.8M | $26.4M | $34.5M | $107.5M | $200.0K | $58.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001527166-26-000017.
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