Carlyle Secured Financials
This page shows Carlyle Secured (CGBD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
FY2025 balance-sheet expansion increased assets and borrowing, but operating cash turned sharply negative while accounting profit stayed positive.
Between FY2024 and FY2025, total assets jumped from$1.93B to$2.79B and debt-to-equity rose from 1.1x to 1.3x, yet operating cash flow swung from$104M to-$205M while net income remained positive at$70M . That combination means the year’s expansion was funded through the balance sheet, not through cash generated inside the period.
The business is earning less on each dollar of capital even before considering the bigger balance sheet: ROE fell from
Cash on hand was only
Financial Health Signals
Carlyle Secured does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Carlyle Secured passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Carlyle Secured used $2.92 of operating cash (-$204.6M OCF vs $70.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Carlyle Secured reported $70.0M in net income in fiscal year 2025. This represents a decrease of 21.4% from the prior year.
Carlyle Secured earned $1.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 36.1% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Carlyle Secured held $76.5M in cash against $1.5B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Carlyle Secured's ROE was 6.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Carlyle Secured spent $13.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
CGBD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Interest Expense | N/A | N/A | N/A | N/A | $44.0M+42.9% | $30.8M-22.3% | $39.6M |
| Net Income | N/A | $70.0M-21.4% | $89.0M-3.6% | $92.3M+7.8% | $85.6M-46.6% | $160.4M+2248.1% | $6.8M |
| EPS (Diluted) | — | $1.01-36.1% | $1.58-3.7% | $1.64+10.1% | $1.49-44.6% | $2.69+3262.5% | $0.08 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Income Tax.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CGBD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $2.8B+44.9% | $1.9B-0.9% | $1.9B-4.9% | $2.0B+0.5% | $2.0B | N/A |
| Cash & Equivalents | $76.5M+35.2% | $56.6M-6.4% | $60.4M+98.1% | $30.5M-67.2% | $93.1M+36.0% | $68.4M |
| Total Liabilities | $1.6B+59.0% | $1.0B-0.9% | $1.0B-8.4% | $1.1B+3.9% | $1.1B | N/A |
| Long-Term Debt | $1.5B+59.3% | $960.9M-2.0% | $980.2M-9.0% | $1.1B+3.2% | $1.0B | N/A |
| Total Equity | $1.2B+29.0% | $905.2M-0.8% | $912.8M-0.5% | $917.4M-3.3% | $948.8M+5.3% | $901.4M |
| Retained Earnings | -$195.7M-23.9% | -$158.0M-4.1% | -$151.7M+1.3% | -$153.7M-0.8% | -$152.5M | N/A |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.
CGBD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $166.6M | -$204.6M-296.2% | $104.3M-54.8% | $230.6M+1489.1% | $14.5M-80.8% | $75.4M-75.3% | $305.2M |
| Financing Cash Flow | -$166.9M | $224.5M+307.6% | -$108.1M+46.1% | -$200.7M-160.3% | -$77.1M-51.8% | -$50.8M+81.4% | -$273.5M |
| Dividends Paid | $111.3M | $104.0M+8.4% | $96.0M+3.2% | $93.0M+7.1% | $86.8M+3.8% | $83.7M-13.4% | $96.6M |
| Share Buybacks | N/A | $13.9M | $0-100.0% | $4.0M-86.0% | $28.5M+0.1% | $28.4M+4.3% | $27.3M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CGBD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Return on Equity | 6.0%-3.8pp | 9.8%-0.3pp | 10.1%+0.8pp | 9.3%-7.6pp | 16.9%+16.1pp | 0.8% |
| Return on Assets | 2.5%-2.1pp | 4.6%-0.1pp | 4.8%+0.6pp | 4.2%-3.7pp | 7.9% | N/A |
| Debt-to-Equity | 1.31+0.3x | 1.060.0x | 1.07-0.1x | 1.17+0.1x | 1.10 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.
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Where Carlyle Secured Ranks
Frequently Asked Questions
Is Carlyle Secured profitable?
Yes, Carlyle Secured (CGBD) reported a net income of $70.0M in fiscal year 2025.
How much debt does Carlyle Secured have?
As of fiscal year 2025, Carlyle Secured (CGBD) had $76.5M in cash and equivalents against $1.5B in long-term debt.
What is Carlyle Secured's return on equity (ROE)?
Carlyle Secured (CGBD) has a return on equity of 6.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Carlyle Secured's operating cash flow?
Carlyle Secured (CGBD) recorded an outflow of $204.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Carlyle Secured's total assets?
Carlyle Secured (CGBD) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Carlyle Secured's debt-to-equity ratio?
Carlyle Secured (CGBD) had a debt-to-equity ratio of 1.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Carlyle Secured's return on assets (ROA)?
Carlyle Secured (CGBD) had a return on assets of 2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Carlyle Secured's cash runway?
Based on fiscal year 2025 data, Carlyle Secured (CGBD) had $76.5M in cash against an annual operating cash burn of $204.6M. This gives an estimated cash runway of approximately 4 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 Carlyle Secured's Piotroski F-Score?
Carlyle Secured (CGBD) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Carlyle Secured's earnings high quality?
For every $1 of reported earnings, Carlyle Secured (CGBD) used $2.92 of operating cash (-$204.6M OCF vs $70.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.