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Financials · CG

The Carlyle Group Inc. (CG) financials

For the twelve months ended Sep 30, 2026, The Carlyle Group Inc. reported $3.61B of revenue and $355.30M of net income.

Revenue, TTM
$3.61B
Revenue growth, YoY
-7.6%
Net income, TTM
$355.30M
Net income growth, YoY
-46.3%
Net margin
9.8%
Free cash flow, TTM
-$2.21B
EPS, diluted, TTM
$0.94
EPS growth, YoY
-47.2%
Cash
$1.58B
P/E
39.81
P/S
3.92
Market cap
$14.14B
Annual revenue$4.78B
FY2016FY2025
Annual net income$808.70M
FY2016FY2025
Annual free cash flow-$3.37B
FY2016FY2025

CG revenue and earnings growth

CG revenueQ3 2026$334.10M

Quarter YoY
+0.4%
QoQ
-70.3%
FY YoY
-11.9%
5Y CAGR
+10.2%
10Y CAGR
+4.7%

CG revenue was $334.10M in fiscal Q3 2026 (ended Sep 30, 2026), up 0.4% from a year earlier and down 70.3% from the prior quarter. For the full fiscal 2025 it was $4.78B, down 11.9% from fiscal 2024. Compound annual growth was +10.2% over 5 years and +4.7% over 10 years. It rose in 4 of the last 10 fiscal years.

CG net incomeQ3 2026-$7.70M

FY YoY
-20.7%
5Y CAGR
+18.4%

CG net income was -$7.70M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $900.0K a year earlier. For the full fiscal 2025 it was $808.70M, down 20.7% from fiscal 2024. Compound annual growth was +18.4% over 5 years.

CG EPSQ3 2026-$0.02

FY YoY
-21.3%
5Y CAGR
+17.6%

CG diluted EPS was -$0.02 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0.00 a year earlier. For the full fiscal 2025 it was $2.18, down 21.3% from fiscal 2024. Compound annual growth was +17.6% over 5 years.

CG free cash flowQ3 2026$333.70M

CG free cash flow was $333.70M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.58B a year earlier. For the full fiscal 2025 it was -$3.37B, compared with -$837.20M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$4.78B$5.43B$2.96B$4.44B$8.78B$2.93B$3.38B$2.43B$3.68B$2.27B
Cost of revenue--------$64.40M$31.30M
Gross profit--------$3.61B$2.24B
Selling, general and admin---$575.80M$431.70M$349.30M$494.40M$460.70M$276.80M$521.10M
Interest expense$123.90M$121.00M$123.80M$110.40M$113.30M$94.00M$82.10M$82.20M$65.50M$61.30M
Pre-tax income$1.16B$1.39B-$600.90M$1.57B$4.03B$580.00M$1.23B$360.20M$1.13B$45.30M
Income tax$214.50M$302.60M-$104.20M$287.80M$982.30M$197.20M$49.00M$31.30M$124.90M$30.00M
Net income$808.70M$1.02B-$608.40M$1.23B$2.97B$348.20M$380.90M$116.50M$244.10M$6.40M
EPS, basic$2.25$2.85-$1.68$3.39$8.37$0.99$3.05$0.89$2.58$0.08
EPS, diluted$2.18$2.77-$1.68$3.35$8.20$0.97$2.82$0.82$2.38-$0.08
Diluted shares370.9M368.0M361.4M365.7M362.6M358.4M122.6M113.4M100.1M308.5M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.97B$1.27B$1.44B$1.36B$2.48B$989.60M$828.00M$638.30M$1.03B$684.00M
Goodwill$104.60M$103.60M$104.00M$103.90M$13.30M$16.80M$16.10M$15.30M$11.10M$10.10M
Total assets$29.12B$23.10B$21.18B$21.40B$21.25B$15.64B$13.81B$12.91B$12.28B$9.97B
Long-term debt---$2.27B$2.07B$1.97B$1.98B$1.55B$1.57B$1.27B
Total debt---$2.27B$2.07B$1.97B$1.98B$1.55B$1.57B$1.27B
Total liabilities$22.06B$16.76B$15.39B$14.58B$15.54B$12.71B$10.84B$10.08B$9.33B$8.52B
Shareholders' equity$7.06B$6.35B$5.78B$6.82B$5.71B$2.93B$2.97B$2.84B--

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$3.28B-$759.50M$204.90M-$379.30M$1.79B-$169.20M$358.60M-$343.50M-$7.10M-$300.60M
Capital expenditures$99.40M$77.70M$66.60M$40.60M$41.40M$61.20M$27.80M$31.30M$34.00M$25.40M
Free cash flow-$3.37B-$837.20M$138.30M-$419.90M$1.75B-$230.40M$330.80M-$374.80M-$41.10M-$326.00M
Investing cash flow-$99.40M-$77.60M-$43.60M-$828.80M-$32.20M-$61.20M-$27.80M-$99.10M-$34.00M-$25.40M
Financing cash flow$3.99B$682.80M-$99.60M$114.80M-$242.50M$370.30M-$149.20M$72.00M$318.60M$15.30M
Dividends paid$505.10M$503.00M$497.70M$443.60M$355.80M$351.30M$154.90M$129.80M$118.10M$140.90M
Share repurchases$686.50M$554.60M$203.50M$185.60M$161.80M$26.40M$34.50M$107.50M$200.0K$58.90M
Stock-based compensation$374.70M$467.90M$249.10M$154.00M$163.10M$105.00M$140.00M$239.90M$320.30M$334.60M
Depreciation and amortization$192.10M$184.10M$180.60M$147.40M$52.00M$52.10M$65.60M$46.90M$41.30M-

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-11.9%83.1%-33.2%-49.5%199.3%-13.1%39.1%-34.0%61.6%-24.3%
Net income growth, YoY-20.7%---58.8%754.3%-8.6%227.0%-52.3%3714.1%-
EPS growth, YoY-21.3%---59.1%745.4%-243.9%-65.5%--
Gross margin--------98.2%98.6%
Net margin16.9%18.8%-20.5%27.6%33.9%11.9%11.3%4.8%6.6%0.3%
Free cash flow margin-70.6%-15.4%4.7%-9.5%19.9%-7.9%9.8%-15.4%-1.1%-14.3%
Return on equity11.5%16.1%-10.5%18.0%52.1%11.9%12.8%4.1%--
Return on assets2.8%4.4%-2.9%5.7%14.0%2.2%2.8%0.9%2.0%0.1%
Debt to equity---0.330.360.670.670.55--

Source: XBRL data The Carlyle Group Inc. files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

CG peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CG$3.61B-7.6%$355.30M9.8%$14.14B
GS$69.70B+18.7%$22.17B31.8%$249.73B
BLK$28.54B+24.7%$6.91B24.2%$182.05B
BX$16.08B+22.1%$3.56B22.1%$89.70B
KKR$21.31B+31.1%$3.15B14.8%$86.60B
APO$30.82B+12.2%-$918.00M-3.0%$68.94B

CG FAQ

8 questions
  • What is CG revenue?
    The Carlyle Group Inc. (CG) reported $3.61B of revenue for the twelve months ended Sep 30, 2026. That is down 7.6% from the year before. Revenue for fiscal 2025 was $4.78B.
  • Is CG profitable?
    Yes. The Carlyle Group Inc. earned $355.30M in net income for the twelve months ended Sep 30, 2026, a net margin of 9.8%.
  • How much cash and debt does CG have?
    The Carlyle Group Inc. reported $1.58B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is CG revenue growing?
    The Carlyle Group Inc.'s revenue changed -11.9% in fiscal 2025, to $4.78B. Its compound annual growth rate was +10.2% over 5 years and +4.7% over 10 years.
  • What is CG free cash flow?
    The Carlyle Group Inc. generated -$2.21B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$2.08B less capital expenditures.
  • What is CG earnings per share?
    Diluted earnings per share were $0.94 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did CG last report financial results?
    The latest statements here come from The Carlyle Group Inc.'s 10-Q filed on Nov 6, 2026, covering the period ended Sep 30, 2026.
  • Where does this CG financial data come from?
    Quantisnow builds these statements from the structured XBRL data The Carlyle Group Inc. files with the SEC. It is provided for information only and is not investment advice.