What is The Carlyle Group Inc.'s earnings per share (EPS)?

The Carlyle Group Inc. (CG) reported diluted earnings per share of $2.18 for fiscal year 2025. This represents a -21.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

The Carlyle Group Inc. Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows The Carlyle Group Inc. (CG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 22/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

The Carlyle Group Inc.'s revenue declined 11.9% year-over-year, from $5.4B to $4.8B. This contraction results in a growth score of 13/100.

Leverage

The Carlyle Group Inc. has a moderate D/E ratio of 3.13. This balance of debt and equity financing earns a leverage score of 38/100.

Cash Flow

While The Carlyle Group Inc. generated -$3.3B in operating cash flow, capex of $99.4M consumed most of it, leaving -$3.4B in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

The Carlyle Group Inc.'s ROE of 11.5% shows moderate profitability relative to equity, earning a score of 37/100. This is down from 16.1% the prior year.

Piotroski F-Score Weak

1/9

The Carlyle Group Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

-4.05x

For every $1 of reported earnings, The Carlyle Group Inc. generates $-4.05 in operating cash flow (-$3.3B OCF vs $808.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.8B

YoY-11.9%

5Y CAGR+10.2%

10Y CAGR+4.7%

The Carlyle Group Inc. generated $4.8B in revenue in fiscal year 2025. This represents a decrease of 11.9% from the prior year.

EBITDA

N/A

Net Income

$808.7M

YoY-20.7%

5Y CAGR+18.4%

The Carlyle Group Inc. reported $808.7M in net income in fiscal year 2025. This represents a decrease of 20.7% from the prior year.

EPS (Diluted)

$2.18

YoY-21.3%

5Y CAGR+17.6%

The Carlyle Group Inc. earned $2.18 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 21.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$3.4B

YoY-303.1%

The Carlyle Group Inc. generated -$3.4B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 303.1% from the prior year.

Cash & Debt

$2.0B

YoY+55.6%

5Y CAGR+14.8%

10Y CAGR+7.1%

The Carlyle Group Inc. held $2.0B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.40

YoY+0.0%

The Carlyle Group Inc. paid $1.40 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

357M

YoY+0.1%

5Y CAGR+0.2%

The Carlyle Group Inc. had 357M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

16.9%

YoY-1.9pp

5Y CAGR+5.0pp

10Y CAGR+17.5pp

The Carlyle Group Inc.'s net profit margin was 16.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.

Return on Equity

11.5%

YoY-4.6pp

5Y CAGR-0.4pp

10Y CAGR+11.7pp

The Carlyle Group Inc.'s ROE was 11.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$686.5M

YoY+23.8%

5Y CAGR+91.9%

The Carlyle Group Inc. spent $686.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 23.8% from the prior year.

Capital Expenditures

$99.4M

YoY+27.9%

5Y CAGR+10.2%

10Y CAGR+4.8%

The Carlyle Group Inc. invested $99.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 27.9% from the prior year.

CG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$4.8B-11.9%	$5.4B+83.1%	$3.0B-33.2%	$4.4B-49.5%	$8.8B+199.3%	$2.9B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	$575.8M+33.4%	$431.7M+23.6%	$349.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$123.9M+2.4%	$121.0M-2.3%	$123.8M+12.1%	$110.4M-2.6%	$113.3M+20.5%	$94.0M
Income Tax	$214.5M-29.1%	$302.6M+390.4%	-$104.2M-136.2%	$287.8M-70.7%	$982.3M+398.1%	$197.2M
Net Income	$808.7M-20.7%	$1.0B+267.7%	-$608.4M-149.7%	$1.2B-58.8%	$3.0B+754.3%	$348.2M
EPS (Diluted)	$2.18-21.3%	$2.77+264.9%	$-1.68-150.1%	$3.35-59.1%	$8.20+745.4%	$0.97

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$1.9B+471.4%	$332.7M-78.8%	$1.6B+61.6%	$973.1M-5.8%	$1.0B-60.8%	$2.6B+146.3%	$1.1B+55.4%	$688.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$38.3M+28.5%	$29.8M+6.4%	$28.0M+0.7%	$27.8M-5.8%	$29.5M-2.6%	$30.3M-0.3%	$30.4M-1.3%	$30.8M
Income Tax	$116.3M+535.6%	-$26.7M-123.7%	$112.5M+807.3%	$12.4M-67.5%	$38.1M-78.0%	$173.1M+149.1%	$69.5M+217.4%	$21.9M
Net Income	$358.1M+39688.9%	$900K-99.7%	$319.7M+145.9%	$130.0M-38.4%	$210.9M-64.6%	$595.7M+302.0%	$148.2M+125.9%	$65.6M
EPS (Diluted)	N/A	$0.00-100.0%	$0.87+148.6%	$0.35	N/A	$1.63+307.5%	$0.40+122.2%	$0.18

CG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$29.1B+26.0%	$23.1B+9.1%	$21.2B-1.1%	$21.4B+0.7%	$21.3B+35.8%	$15.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$2.0B+55.6%	$1.3B-12.1%	$1.4B+5.8%	$1.4B-44.9%	$2.5B+150.1%	$987.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$104.6M+1.0%	$103.6M-0.4%	$104.0M+0.1%	$103.9M+681.2%	$13.3M-20.8%	$16.8M
Total Liabilities	$22.1B+31.6%	$16.8B+8.9%	$15.4B+5.6%	$14.6B-6.2%	$15.5B+22.3%	$12.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	$2.3B+9.7%	$2.1B+5.1%	$2.0B
Total Equity	$7.1B+11.2%	$6.3B+9.7%	$5.8B-15.2%	$6.8B+19.5%	$5.7B+94.7%	$2.9B
Retained Earnings	$1.6B-19.5%	$2.0B-2.0%	$2.1B-38.8%	$3.4B+21.2%	$2.8B+705.7%	$348.2M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$29.1B+7.6%	$27.1B+7.9%	$25.1B+4.0%	$24.1B+4.3%	$23.1B+2.0%	$22.7B+1.7%	$22.3B+6.9%	$20.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$2.0B-11.3%	$2.2B+74.1%	$1.3B+7.2%	$1.2B-6.0%	$1.3B-8.0%	$1.4B+50.5%	$914.8M-28.3%	$1.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$104.6M0.0%	$104.6M+0.1%	$104.5M+0.6%	$103.9M+0.3%	$103.6M-0.5%	$104.1M+0.2%	$103.9M0.0%	$103.9M
Total Liabilities	$22.1B+9.1%	$20.2B+10.1%	$18.4B+3.6%	$17.7B+5.7%	$16.8B+2.7%	$16.3B-1.4%	$16.6B+9.6%	$15.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.1B+3.1%	$6.8B+1.9%	$6.7B+5.2%	$6.4B+0.6%	$6.3B+0.2%	$6.3B+10.6%	$5.7B-0.2%	$5.7B
Retained Earnings	$1.6B+1.5%	$1.6B-17.0%	$1.9B+4.6%	$1.9B-8.6%	$2.0B+0.3%	$2.0B+19.1%	$1.7B-8.6%	$1.9B

CG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$3.3B-331.3%	-$759.5M-470.7%	$204.9M+154.0%	-$379.3M-121.2%	$1.8B+1158.5%	-$169.2M
Capital Expenditures	$99.4M+27.9%	$77.7M+16.7%	$66.6M+64.0%	$40.6M-1.9%	$41.4M-32.4%	$61.2M
Free Cash Flow	-$3.4B-303.1%	-$837.2M-705.4%	$138.3M+132.9%	-$419.9M-124.0%	$1.7B+859.4%	-$230.4M
Investing Cash Flow	-$99.4M-28.1%	-$77.6M-78.0%	-$43.6M+94.7%	-$828.8M-2473.9%	-$32.2M+47.4%	-$61.2M
Financing Cash Flow	$4.0B+484.4%	$682.8M+785.5%	-$99.6M-186.8%	$114.8M+147.3%	-$242.5M-165.5%	$370.3M
Dividends Paid	$505.1M+0.4%	$503.0M+1.1%	$497.7M+12.2%	$443.6M+24.7%	$355.8M+1.3%	$351.3M
Share Buybacks	$686.5M+23.8%	$554.6M+172.5%	$203.5M+9.6%	$185.6M+14.7%	$161.8M+512.9%	$26.4M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$1.2B+23.4%	-$1.6B-823.9%	-$168.8M+52.1%	-$352.1M+0.2%	-$352.8M-144.6%	$791.9M+162.4%	-$1.3B-1885.8%	$71.1M
Capital Expenditures	$42.0M+81.0%	$23.2M+32.6%	$17.5M+4.8%	$16.7M-37.5%	$26.7M+39.8%	$19.1M+7.9%	$17.7M+24.6%	$14.2M
Free Cash Flow	-$1.2B+21.8%	-$1.6B-749.5%	-$186.3M+49.5%	-$368.8M+2.8%	-$379.5M-149.1%	$772.8M+160.0%	-$1.3B-2362.6%	$56.9M
Investing Cash Flow	-$42.0M-81.0%	-$23.2M-32.6%	-$17.5M-4.8%	-$16.7M+37.5%	-$26.7M-90.7%	-$14.0M+38.3%	-$22.7M-59.9%	-$14.2M
Financing Cash Flow	$975.0M-60.8%	$2.5B+981.1%	$230.2M-22.4%	$296.6M-5.0%	$312.1M+190.1%	-$346.5M-137.1%	$933.9M+531.0%	-$216.7M
Dividends Paid	$125.9M-0.5%	$126.5M+0.2%	$126.3M-0.1%	$126.4M+1.0%	$125.2M-0.2%	$125.5M-0.1%	$125.6M-0.9%	$126.7M
Share Buybacks	$203.7M+0.5%	$202.7M+95.7%	$103.6M-41.3%	$176.5M+132.8%	$75.8M-49.6%	$150.5M-15.6%	$178.3M+18.9%	$150.0M

CG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	16.9%-1.9pp	18.8%+39.3pp	-20.5%-48.1pp	27.6%-6.3pp	33.9%+22.0pp	11.9%
Return on Equity	11.5%-4.6pp	16.1%+26.6pp	-10.5%-28.5pp	18.0%-34.2pp	52.1%+40.3pp	11.9%
Return on Assets	2.8%-1.6pp	4.4%+7.3pp	-2.9%-8.6pp	5.7%-8.3pp	14.0%+11.8pp	2.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.13+0.5	2.64-0.0	2.66+2.3	0.33-0.0	0.36-0.3	0.67
FCF Margin	-70.6%-55.2pp	-15.4%-20.1pp	4.7%+14.1pp	-9.5%-29.4pp	19.9%+27.8pp	-7.8%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	18.8%+18.6pp	0.3%-20.1pp	20.3%+7.0pp	13.4%-7.1pp	20.4%-2.2pp	22.6%+8.8pp	13.9%+4.3pp	9.5%
Return on Equity	5.1%+5.1pp	0.0%-4.8pp	4.8%+2.7pp	2.0%-1.3pp	3.3%-6.1pp	9.4%+6.8pp	2.6%+1.4pp	1.1%
Return on Assets	1.2%+1.2pp	0.0%-1.3pp	1.3%+0.7pp	0.5%-0.4pp	0.9%-1.7pp	2.6%+2.0pp	0.7%+0.4pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.13+0.2	2.95+0.2	2.73-0.0	2.77+0.1	2.64+0.1	2.58-0.3	2.89+0.3	2.63
FCF Margin	-65.1%+410.6pp	-475.7%-463.9pp	-11.8%+26.1pp	-37.9%-1.1pp	-36.8%-66.1pp	29.3%+149.7pp	-120.3%-128.6pp	8.3%

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Frequently Asked Questions

What is The Carlyle Group Inc.'s annual revenue?

The Carlyle Group Inc. (CG) reported $4.8B in total revenue for fiscal year 2025. This represents a -11.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is The Carlyle Group Inc.'s revenue growing?

The Carlyle Group Inc. (CG) revenue declined by 11.9% year-over-year, from $5.4B to $4.8B in fiscal year 2025.

Is The Carlyle Group Inc. profitable?

Yes, The Carlyle Group Inc. (CG) reported a net income of $808.7M in fiscal year 2025, with a net profit margin of 16.9%.

What is The Carlyle Group Inc.'s net profit margin?

The Carlyle Group Inc. (CG) had a net profit margin of 16.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does The Carlyle Group Inc. pay dividends?

Yes, The Carlyle Group Inc. (CG) paid $1.40 per share in dividends during fiscal year 2025.

What is The Carlyle Group Inc.'s return on equity (ROE)?

The Carlyle Group Inc. (CG) has a return on equity of 11.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is The Carlyle Group Inc.'s free cash flow?

The Carlyle Group Inc. (CG) generated -$3.4B in free cash flow during fiscal year 2025. This represents a -303.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is The Carlyle Group Inc.'s operating cash flow?

The Carlyle Group Inc. (CG) generated -$3.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are The Carlyle Group Inc.'s total assets?

The Carlyle Group Inc. (CG) had $29.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are The Carlyle Group Inc.'s capital expenditures?

The Carlyle Group Inc. (CG) invested $99.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does The Carlyle Group Inc. buy back shares?

Yes, The Carlyle Group Inc. (CG) spent $686.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does The Carlyle Group Inc. have outstanding?

The Carlyle Group Inc. (CG) had 357M shares outstanding as of fiscal year 2025.

What is The Carlyle Group Inc.'s debt-to-equity ratio?

The Carlyle Group Inc. (CG) had a debt-to-equity ratio of 3.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is The Carlyle Group Inc.'s return on assets (ROA)?

The Carlyle Group Inc. (CG) had a return on assets of 2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is The Carlyle Group Inc.'s cash runway?

Based on fiscal year 2025 data, The Carlyle Group Inc. (CG) had $2.0B in cash against an annual operating cash burn of $3.3B. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is The Carlyle Group Inc.'s Piotroski F-Score?

The Carlyle Group Inc. (CG) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are The Carlyle Group Inc.'s earnings high quality?

The Carlyle Group Inc. (CG) has an earnings quality ratio of -4.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is The Carlyle Group Inc.?

The Carlyle Group Inc. (CG) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.