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The Carlyle Group Inc.

The Carlyle Group Inc.

NASDAQ•CG
CEO: Mr. William E. Conway Jr.
Sector: Financial Services
Industry: Asset Management
Listing Date: 2012-05-03
The Carlyle Group Inc. is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES. The firm invests across four segments which include Corporate Private Equity, Real Assets, Global Market Strategies, and Solutions. The firm typically invests in industrial, agribusiness, ecological sector, fintech, airports, parking, Plastics, Rubber, diversified natural resources, minerals, farming, aerospace, defense, automotive, consumer, retail, industrial, infrastructure, energy, power, healthcare, software, software enabled services, semiconductors, communications infrastructure, financial technology, utilities, gaming, systems and related supply chain, electronic systems, systems, oil and gas, processing facilities, power generation assets, technology, systems, real estate, financial services, transportation, business services, telecommunications, media, and logistics sectors. Within the industrial sector, the firm invests in manufacturing, building products, packaging, chemicals, metals and mining, forestry and paper products, and industrial consumables and services. In consumer and retail sectors, it invests in food and beverage, retail, restaurants, consumer products, domestic consumption, consumer services, personal care products, direct marketing, and education. Within aerospace, defense, business services, and government services sectors, it seeks to invest in defense electronics, manufacturing and services, government contracting and services, information technology, distribution companies. In telecommunication and media sectors, it invests in cable TV, directories, publishing, entertainment and content delivery services, wireless infrastructure/services, fixed line networks, satellite services, broadband and Internet, and infrastructure. Within real estate, the firm invests in office, hotel, industrial, retail, for sale residential, student housing, hospitality, multifamily residential, homebuilding and building products, and senior living sectors. The firm seeks to make investments in growing business including those with overleveraged balance sheets. The firm seeks to hold its investments for four to six years. In the healthcare sector, it invests in healthcare services, outsourcing services, companies running clinical trials for pharmaceutical companies, managed care, pharmaceuticals, pharmaceutical related services, healthcare IT, medical, products, and devices. It seeks to invest in companies based in Sub-Saharan focusing on Ghana, Kenya, Mozambique, Botswana, Nigeria, Uganda, West Africa, North Africa and South Africa focusing on Tanzania and Zambia; Asia focusing on Pakistan, India, South East Asia, Indonesia, Philippines, Vietnam, Korea, and Japan; Australia; New Zealand; Europe focusing on France, Italy, Denmark, United Kingdom, Germany, Austria, Belgium, Finland, Iceland, Ireland, Netherlands, Norway, Portugal, Spain, Benelux , Sweden, Switzerland, Hungary, Poland, and Russia; Middle East focusing on Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Turkey, and UAE; North America focusing on United States which further invest in Southeastern United States, Texas, Boston, San Francisco Bay Area and Pacific Northwest; Asia Pacific; Soviet Union, Central-Eastern Europe, and Israel; Nordic region; and South America focusing on Mexico, Argentina, Brazil, Chile, and Peru. The firm seeks to invest in food, financial, and healthcare industries in Western China. In the real estate sector, the firm seeks to invest in various locations across Europe focusing on France and Central Europe, United States, Asia focusing on China, and Latin America. It typically invests between $2.24 million and $50 million for venture investments and between $50 million and $2 billion for buyouts in companies with enterprise value of between $31.57 million and $1000 million and sales value of $50 million and $300 million. It seeks to invest in companies with market capitalization greater than $50 million and EBITDA between $5 million to $25 million. It prefers to take a majority or a minority stake. While investing in Japan, it does not invest in companies with more than 1,000 employees and prefers companies' worth between $100 million and $150 million. The firm originates, structures, and acts as lead equity investor in the transactions. The Carlyle Group Inc. was founded in 1987 and is based in Washington, District of Columbia with additional offices across North America, South America, Asia, Australia and Europe.
Contact Information
1001 Pennsylvania Avenue, NW, Suite 220 South, Washington, DC, 20004-2505, United States
(202)-729-5626
www.carlyle.com
Market Cap
$21.03B
P/E (TTM)
31.8
0
Dividend Yield
2.4%
52W High
$69.85
52W Low
$33.02
52W Range
69%
Rank65Top 87.9%
2.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$780.50M-57.38%
4-Quarter Trend

EPS

$0.00-99.85%
4-Quarter Trend

FCF

-$2.63B-440.81%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Core Fee Revenue Growth Fund management fees increased 13% to $1.79B for nine months, indicating strong recurring revenue generation across segments.
Nine Months Net Income Down Net income attributable to Carlyle Group Inc. decreased 44% to $450.6M for nine months, reflecting investment performance challenges.
Quarterly Net Income Plummets Net income attributable to Group dropped 100% to $0.9M in Q3 2025, compared to $595.7M last year due to performance allocations.
Total Revenues Decline Total revenues fell 34% to $2.88B for nine months ended Sep 30, 2025, driven by significant investment income volatility.

Risk Factors

Investment Income Volatility High Q3 investment income loss was $(519.0)M, reversing prior period gains due to significant negative performance allocations.
NGP Restructuring Impairment NGP restructuring led to impairment charge, reducing investment income allocation and impacting current period performance results.
Rising Debt Obligations Total debt obligations increased to $3.01B as of Sep 30, 2025, driven by new senior note issuance during the quarter.
Ongoing Legal Proceedings Risk Company faces ongoing litigation, including Tax Receivable Agreement matter, with uncertain financial outcomes despite current accruals.

Outlook

Strong Liquidity Maintained Cash and equivalents totaled $2.2B at period end, supported by $1.0B available capacity on the senior credit facility.
Continued Capital Deployment Deployed $11.8B across platform in Q3 2025, focusing on liquid credit products and closed reinsurance transactions at Fortitude.
Quarterly Dividend Maintained Board declared $0.35 per share quarterly dividend for Q4 2025, maintaining consistent capital return policy for common stockholders.
Fee Earning AUM Expansion Total Fee-earning AUM grew to $332.0B by Sep 30, 2025, reflecting capital deployment across Global Credit and AlpInvest segments.

Peer Comparison

Revenue (TTM)

Apollo Global Management, Inc.APO
$27.47B
-13.8%
BlackRock, Inc.BLK
$22.89B
+18.2%
KKR & Co. Inc.KKR
$16.72B
-26.7%

Gross Margin (Latest Quarter)

Golub Capital BDC, Inc.GBDC
176.7%
+117.2pp
Blackstone Inc.BX
100.0%
+3.7pp
Blue Owl Capital Inc.OWL
100.0%
+45.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BX$181.36B43.732.9%29.7%
BLK$168.73B27.712.2%1.4%
KKR$121.76B37.08.5%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-29.8%
Growth Under Pressure
4Q Net Income CAGR
-83.8%
Declining Profitability
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:$1.05
|
Revenue:$1.10B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $780.50M-57.4%
    |
    EPS: $0.00-99.9%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $1.18B+9.9%
    |
    EPS: $0.89+117.1%
    Meet
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $973.10M-9.0%
    |
    EPS: $0.36+100.0%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $4.09B+119.0%
    |
    EPS: $2.85+269.6%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $1.83B+155.6%
    |
    EPS: $1.67+626.1%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $1.07B+131.5%
    |
    EPS: $0.41-251.9%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $1.07B+24.5%
    |
    EPS: $0.18-35.7%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 22, 2024|
    Revenue: $2.96B-49.2%
    |
    EPS: $-1.68-149.6%
    Miss