The Carlyle Group Inc.
- Open
- 45.94
- Day high
- 47.01
- Day low
- 45.85
- Prev close
- 45.40
- Volume
- 1.1M
- Mkt cap
- $16.7B
- P/E (TTM)
- 30.5
- EPS (TTM)
- $1.52
- P/B
- 3.1
- P/S
- 4.2
- Yield
- 3.02%
- Per share
- $1.40
The Carlyle Group Inc. (CG) is a Financial Services company listed on NASDAQ. The stock is down 29% over the past year. Drillr has 1 published research article covering CG.
The Carlyle Group Inc. (CG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.91 | $0.89 | -2.2% | $751M | -25.8% |
| Feb 6, 2026 | $1.03 | $1.01 | -1.9% | $1.8B | +72.7% |
| Oct 31, 2025 | $1.02 | $0.98 | -3.9% | $781M | -21.2% |
| May 9, 2025 | $0.95 | $1.14 | +19.4% | $808M | -18.6% |
| May 1, 2024 | $0.97 | $1.01 | +4.4% | $599M | -40.6% |
| Feb 7, 2024 | $0.75 | $0.86 | +14.7% | $921M | +8.3% |
| Aug 2, 2023 | $0.65 | $0.88 | +35.4% | $462M | -43.8% |
| May 4, 2023 | $0.65 | $0.63 | -3.1% | $859M | +5.6% |
| Feb 7, 2023 | $0.96 | $1.01 | +5.2% | $647M | -37.4% |
| Jul 28, 2022 | $1.11 | $1.17 | +5.4% | $751M | -28.3% |
| Apr 28, 2022 | $0.98 | $0.74 | -24.5% | $1.1B | +7.0% |
| Feb 3, 2022 | $1.21 | $2.01 | +66.1% | $1.3B | +13.5% |
CG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | Andrews Charles Elliott Jr.officer: Chief Accounting Officer | Grant | 409 | — |
| May 29, 2026 | LoBue Lindsayofficer: Chief Operating Officer | Grant | 3,120 | — |
| May 29, 2026 | Jenkins Mark Davidofficer: Co-President | Grant | 7,634 | — |
| May 29, 2026 | Nedelman Jeffreyofficer: Co-President | Grant | 7,733 | — |
| May 29, 2026 | SCHWARTZ HARVEY Mdirector, officer: Chief Executive Officer | Grant | 20,743 | — |
| May 29, 2026 | Ferguson Jeffrey W.officer: General Counsel | Grant | 1,274 | — |
| May 29, 2026 | Redett John C.officer: Co-President | Grant | 10,830 | — |
| May 29, 2026 | Plouffe Justinofficer: Chief Financial Officer | Grant | 4,077 | — |
| May 1, 2026 | SHAW WILLIAM JOSEPHdirector | Grant | 4,450 | — |
| May 1, 2026 | ORDAN MARK Sdirector | Grant | 4,450 | — |
| May 1, 2026 | Cherwoo Shardadirector | Grant | 4,450 | — |
| May 1, 2026 | FILLER LINDAdirector | Grant | 4,450 | — |
| May 1, 2026 | Rice Derica Wdirector | Grant | 4,450 | — |
| May 1, 2026 | BESCHLOSS AFSANEH MASHAYEKHIdirector | Grant | 4,450 | — |
| May 1, 2026 | HANCE JAMES H JRdirector | Grant | 4,450 | — |
Source: CG SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full CG insider & 13F page →The Carlyle Group Inc. company profile
Overview
The Carlyle Group Inc. (NASDAQ:CG) is a prominent global investment management firm founded in 1987 and headquartered in Washington, D.C. The company operates as one of the world's largest alternative asset managers, with offices spanning 21 countries across five continents. Since going public in 2012, Carlyle has evolved from a traditional private equity firm into a diversified investment platform managing $453 billion in assets under management as of Q1 2025. The firm has undergone significant strategic transformation in recent years, expanding beyond its private equity roots to become a comprehensive alternative investment manager serving institutional and individual investors worldwide.
Business
The Carlyle Group operates in the alternative asset management industry, which involves managing investment funds that pursue strategies outside of traditional stocks and bonds. Alternative investments typically include private equity, credit, real estate, and other specialized investment approaches that are generally less liquid but potentially offer higher returns than public markets. Carlyle's business is organized into four main segments: Global Private Equity represents the firm's traditional core business, managing leveraged buyout funds that acquire controlling stakes in companies, improve their operations, and sell them for a profit typically within 4-6 years. This segment manages approximately $105 billion in assets and focuses on middle-market and large-cap companies across various industries including healthcare, technology, aerospace, and consumer goods. Global Credit has become Carlyle's largest segment with nearly $190 billion in assets under management, representing significant growth of 300% over the past four years. This division manages various credit strategies including direct lending, distressed debt, structured credit, and asset-based finance. Credit investments involve lending money to companies or purchasing debt securities, generating returns through interest payments and capital appreciation. Investment Solutions manages $77 billion in assets and includes specialized strategies such as real estate, infrastructure, natural resources, and insurance solutions. This segment has grown 70% over the past four years and includes the firm's partnership with Fortitude, an insurance reinsurance company that added $29 billion in assets in 2023. AlpInvest operates as a fund-of-funds and co-investment platform with $89 billion in assets under management. This segment invests in other private equity funds and directly co-invests alongside those funds, providing diversification and access to deals that might be too large for individual investors. The firm also operates a growing Wealth Management division that makes these alternative investment strategies accessible to high-net-worth individuals and family offices, with assets under management growing 70% year-over-year to reach record inflows of $1.8 billion in Q3 2024.
Revenue model
Carlyle generates revenue through a traditional "2 and 20" fee structure common in alternative asset management, though specific terms vary by fund and strategy. The firm earns money through two primary mechanisms: Management Fees are ongoing annual fees typically ranging from 1-2% of committed capital or assets under management. These fees provide steady, predictable income regardless of investment performance and are used to cover operational expenses and generate profits. Management fees totaled $516 million in Q4 2024, representing the foundation of Carlyle's fee-related earnings. Performance Fees (Carried Interest) represent a share of investment profits, typically 15-20% of gains above a hurdle rate. These fees are only earned when investments perform well and are realized when portfolio companies are sold or go public. Carried interest creates significant upside potential but can be volatile based on market conditions and investment performance. Capital Markets Fees are generated when Carlyle provides advisory services for mergers, acquisitions, and capital raising activities for its portfolio companies. These fees have grown significantly, increasing over 80% year-to-date in 2024. The firm's customers are primarily institutional investors including pension funds, sovereign wealth funds, insurance companies, endowments, and family offices. Increasingly, Carlyle is expanding into the wealth management channel to serve high-net-worth individuals. Several factors influence Carlyle's profitability margins. Positive factors include rising interest rates that benefit credit strategies, increased M&A activity that drives more deal flow and capital markets fees, strong public market performance that lifts portfolio valuations, and successful fundraising that grows the management fee base. Negative factors include economic downturns that reduce deal activity and portfolio valuations, increased competition for deals that compresses returns, regulatory changes that could limit fee structures, and market volatility that affects investor appetite for alternative investments. The firm has focused heavily on improving fee-related earnings margins, achieving a record 48% margin in Q1 2025 through operational efficiency improvements and compensation restructuring.
Competitive moat
Carlyle's competitive moat is moderately strong but faces ongoing challenges in an increasingly competitive alternative investment landscape. The firm's primary moat stems from its scale and diversification across multiple investment strategies and geographies, which provides stability and cross-selling opportunities that smaller competitors cannot match. With $453 billion in assets under management, Carlyle has the resources to pursue large, complex transactions and maintain global infrastructure that would be cost-prohibitive for smaller firms. The company benefits from established relationships with institutional investors built over nearly four decades, creating some switching costs as these investors have committed capital in multi-year fund structures. Carlyle's brand recognition and track record in alternative investments provides credibility when competing for new mandates, particularly in international markets where local expertise and global reach are valued. However, Carlyle's moat is not insurmountable. The alternative asset management industry has relatively low barriers to entry for experienced investment professionals, and successful teams frequently leave to start competing firms. Key person risk remains significant, as the departure of successful investment professionals can impact fund performance and fundraising ability. The industry is also experiencing increasing competition from both traditional asset managers expanding into alternatives and new entrants, which has led to compressed fees and increased pressure on returns. Potential disruption comes from several sources: large institutional investors increasingly building internal capabilities to invest directly rather than paying external management fees; technology platforms that could democratize access to alternative investments; and regulatory changes that might limit fee structures or increase transparency requirements. Additionally, the firm faces cyclical challenges as private equity fundraising has become more difficult, with many funds targeting smaller sizes due to investor fatigue and performance concerns. The strength of Carlyle's moat ultimately depends on its ability to consistently generate superior investment returns across market cycles, as performance remains the primary driver of investor allocation decisions in the alternative investment space.
Risks & safety
Carlyle maintains a relatively strong financial position with moderate margin of safety considerations: Overall Assessment: The firm demonstrates solid financial stability with strong liquidity and manageable leverage, though earnings volatility from carried interest creates some uncertainty. Liquidity and Solvency: • Cash and short-term investments: $1.19 billion (Q1 2025) • Current ratio: 4.7x indicating strong short-term liquidity • No meaningful debt-to-equity ratio (0.0 in recent quarters) • Strong free cash flow generation: $147.5 million in Q1 2025 Valuation Metrics: • P/E ratio: 30.1x (Q1 2025) - elevated but typical for asset managers • EV/EBITDA: 16.6x - reasonable for a growing alternative asset manager • Price-to-book: 2.45x - reflects intangible value of management contracts • Graham number suggests potential undervaluation at current levels Other Considerations: • Fee-related earnings provide stable base income with 48% margins • Significant dry powder ($84 billion) provides deployment opportunities • Carried interest creates earnings volatility but substantial upside potential • Share buyback program demonstrates capital allocation discipline with $1.1 billion remaining authorization
Recent development
Over the past few years, Carlyle has undergone significant strategic transformation focused on diversification, operational efficiency, and margin expansion. The firm has dramatically expanded its credit platform, growing Global Credit assets under management by 300% over four years to become the largest segment at nearly $190 billion. This shift toward credit strategies provides more stable, fee-generating assets compared to traditional private equity. The company has made strategic moves in insurance solutions, most notably through its partnership with Fortitude, which added $29 billion in assets under management in 2023. This expansion into insurance-linked strategies represents a significant growth opportunity as insurance companies seek higher-yielding investments for their reserves. Wealth management expansion has been a key priority, with the firm developing products like CTAC (private credit) and CAPM (private equity) to serve high-net-worth individuals. This channel has shown remarkable growth with 70% year-over-year AUM growth and record inflows of $1.8 billion in Q3 2024. Carlyle has implemented significant operational improvements including realigning its compensation model and appointing new leadership. These changes have driven fee-related earnings margins from 35% to a record 48%, demonstrating improved operational efficiency. The firm has also enhanced its capital markets capabilities, with fees growing over 80% year-to-date in 2024. The company has maintained disciplined capital allocation through an active share repurchase program, buying back $330 million in shares year-to-date in 2024. Management has also focused on technology and AI initiatives to improve investment processes and operational efficiency. Looking forward, Carlyle is preparing to launch Fund IX in the fourth quarter and continues to target approximately $40 billion in annual fundraising across its diversified platform.
CG company profile · for informational purposes only — not investment advice.
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