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Earnings transcript
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CG
The Carlyle Group Inc.
$45.68
0.54
(1.19%)
| Exchange: | NASDAQ |
| Market Cap: | 16.443B |
| Shares Outstanding: | 304.5M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Asset Management | |||||
| CEO: | Harvey Mitchell Schwartz | |||||
| Full Time Employees: | 2300 | |||||
| Address: |
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| Website: | https://www.carlyle.com |
The Carlyle Group Inc. is a leading global investment firm that employs both direct investment and fund-of-fund strategies. Its direct investment expertise is extensive, encompassing management-led leveraged buyouts, privatizations, and divestitures, as well as strategic minority equity investments. The firm also allocates capital to structured credit opportunities, global distressed and corporate situations, and small-to-middle market enterprises. Its venture and growth capital activities span the full spectrum, from seed/startup and early-stage funding to emerging growth, turnaround situations, mid-venture, late-venture, and Private Investment in Public Equity (PIPES). Carlyle structures its investments across four primary segments: Corporate Private Equity, Real Assets, Global Market Strategies, and Solutions. Carlyle’s investment interests are remarkably broad, covering an extensive array of sectors worldwide. These include major industries like industrials (such as manufacturing, building products, chemicals, and metals), consumer and retail (including food and beverage, consumer products, and services), aerospace and defense, technology (covering software, semiconductors, and communications infrastructure), healthcare (services, pharmaceuticals, and medical devices), energy and power, real estate (from office and hotel properties to residential and specialized segments like student housing and senior living), financial services, transportation, telecommunications, media, business services, agribusiness, fintech, utilities, and gaming. The firm actively seeks out growing businesses, including those with overleveraged balance sheets. Typically, Carlyle aims to hold its investments for four to six years, although some may be held for three to five years, with specific mandates for automotive and transportation sector holdings also falling within the four-to-six-year range. With a significant global footprint, Carlyle actively invests across North America (including specific U.S. regions, Mexico, Argentina, Brazil, Chile, and Peru), Europe (encompassing Western, Central-Eastern, and Nordic regions), Asia (including India, Southeast Asia, Korea, Japan, and China), Australia, New Zealand, the Middle East, and both Sub-Saharan and North Africa. The firm has particular geographic interests, such as focusing on the food, financial, and healthcare industries in Western China, and in Japan, it specifically targets companies valued between $100 million and $150 million, avoiding those with over 1,000 employees. Financially, Carlyle typically commits $1 million to $50 million for venture investments and $50 million to $2 billion for buyouts. It targets companies with an enterprise value between $31.57 million and $1 billion, sales ranging from $10 million to $500 million, a market capitalization exceeding $50 million, and EBITDA between $5 million and $25 million. Carlyle is flexible regarding its ownership stake, often taking either a majority or a minority position, and frequently acts as the lead equity investor, originating and structuring transactions. The Carlyle Group Inc. was founded in 1987 and is headquartered in Washington, D.C. It maintains a robust global presence with additional offices in 21 countries across five continents: North America, South America, Asia, Australia, and Europe.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,867,100 | 4,088,300 | 4,897,700 |
| Gross Profit | 1,324,200 | 3,402,400 | 3,229,100 |
| EBITDA | -420,300 | 1,577,800 | 1,336,900 |
| Operating Income | -600,900 | 1,393,700 | 1,282,900 |
| Net Income | -608,400 | 1,020,400 | 808,700 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 21,176,000 | 23,103,500 | 29,116,000 |
| Total Liabilities | 15,391,500 | 16,755,900 | 22,058,900 |
| Total Stockholders Equity | 5,191,400 | 5,606,900 | 7,057,100 |
| Total Debt | 9,255,600 | 9,496,300 | 14,363,400 |
| Cash and Cash Equivalents | 1,786,300 | 2,096,400 | 3,205,300 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 204,900 | 1,088,900 | 0 |
| Capital Expenditure | -66,600 | -77,700 | 0 |
| Free Cash Flow | 138,300 | 1,011,200 | 0 |
| Net Income | -608,400 | 1,082,400 | 808,700 |
| Net Change in Cash | 80,600 | -175,600 | -1,266,500 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 5,384,325.128 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 6,459,658.067 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 5,929,900 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,725,144.213 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 2,069,682.173 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,899,947.055 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 2,010,370.730 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 2,548,687.573 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 2,283,486.655 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,251,529.630 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,501,479.438 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,378,342.759 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 6.160 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 6.870 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 5.420 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates CG intrinsic value between $27.38 – $40.43 per share. This depends on revenue growth, margins, and discount rate.
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Common questions about CG valuation
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What is CG’s P/E ratio?
You can see CG’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
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CG
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Daily snapshot
1.19
Trading Metrics:
| Open: | 44.62 | Previous Close: | 45.14 | |
| Day Low: | 44.31 | Day High: | 45.75 | |
| Year Low: | 41.54 | Year High: | 69.85 | |
| Price Avg 50: | 47.9 | Price Avg 200: | 55.4 | |
| Volume: | 170609 | Average Volume: | 3.568M |
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