Carlyle Group Inc (The) Stock Research

Market Summary

USD35.43+0.13

Market Closed

0.37%

CG Stock Price

CG RSI Chart

CG Valuation

Market Cap

12.9B

Price/Earnings (Trailing)

7.5

Price/Sales (Trailing)

2.25

EV/EBITDA

5.41

Price/Free Cashflow

67.51

CG Price/Sales (Trailing)

CG Profitability

EBT Margin

40.40%

Return on Equity

25.79%

Return on Assets

8.14%

Free Cashflow Yield

1.48%

CG Fundamentals

CG Revenue

Revenue (TTM)

5.7B

Revenue Y/Y

-33.61%

Revenue Q/Q

3.77%

CG Earnings

Earnings (TTM)

1.7B

Earnings Y/Y

-48.41%

Earnings Q/Q

13.46%

Price Action

52 Week Range

24.3252.27

(Low)(High)

Last 7 days

4.6%

Last 30 days

22.1%

Last 90 days

24.5%

Trailing 12 Months

-21.9%

CG Financial Health

Debt/Equity

0.34

Debt/Cashflow

0.1

CG Investor Care

Dividend Yield

3.78%

Shares Dilution (1Y)

2.08%

Diluted EPS (TTM)

4.79

Peers (Alternatives to Carlyle Group The)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BX	68.0B	12.6B	32.84%	-15.74%	26.26	5.4	-38.48%	-50.30%
KKR	44.6B	7.2B	10.72%	-30.31%	-106.97	6.15	-48.93%	-107.37%
AMP	33.8B	-	13.10%	15.34%	10.39	2.44	6.62%	23.70%
BEN	15.3B	8.3B	18.79%	1.50%	11.88	1.85	-1.78%	-29.45%
MID-CAP
IVZ	8.3B	-	2.35%	-11.79%	9.02	1.05	2.53%	-21.61%
AMG	6.4B	2.5B	7.50%	21.24%	11.73	2.58	9.09%	8.59%
HLI	6.2B	1.2B	10.61%	-4.48%	26.59	5.27	-39.99%	-44.40%
EVR	5.0B	3.1B	17.30%	12.82%	7.91	1.63	-1.79%	-4.92%
JHG	4.3B	2.4B	11.36%	-23.48%	13.4	1.79	-12.52%	-53.48%
LAZ	3.8B	3.1B	17.84%	2.83%	7.26	1.22	-0.74%	3.54%
SMALL-CAP
AMK	2.0B	597.8M	16.04%	14.93%	21.72	3.27	20.12%	2505.47%
DHIL	570.3M	162.6M	6.10%	11.13%	13.09	3.51	-6.65%	-38.27%
VALU	506.5M	40.4M	6.98%	3.46%	27.82	12.54	1.01%	-33.76%
SCU	233.1M	554.5M	12.43%	-49.38%	92.91	0.42	-42.93%	-98.83%
PZN	161.6M	197.7M	0.84%	-7.62%	4	0.82	5.01%	-33.91%

Financials for Carlyle Group The

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	-8.8%	5,718	6,269	7,927	8,782	8,298
S&GA Expenses	10.6%	519	469	446	432	409
Costs and Expenses	-6.6%	3,350	3,589	4,314	4,757	4,510
EBITDA	-11.0%	2,543	2,858	3,782	-	-
EBITDA Margin	-2.4%	0.44*	0.46*	0.48*	-	-
Earnings Before Taxes	-12.9%	2,310	2,653	3,606	4,028	3,815
EBT Margin	-4.5%	0.40*	0.42*	0.45*	-	-
Interest Expenses	-0.5%	119	120	118	113	98
Net Income	-13.4%	1,716	1,981	2,679	2,975	2,939
Net Income Margin	-5.0%	0.30*	0.32*	0.34*	-	-
Free Cahsflow	-68.0%	191	596	1,306	-	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-1.6%	21,092	21,425	21,736	21,250	20,789
Cash Equivalents	4.0%	1,362	1,309	1,290	2,470	2,399
Net PPE	-2.9%	134	138	145	144	139
Goodwill	711.0%	103	13	13	13	-
Liabilities	-3.7%	14,438	14,993	15,382	15,544	15,756
Long Term Debt	-0.2%	2,235	2,239	2,255	2,072	2,371
LT Debt, Non Current	-0.2%	2,235	2,239	2,255	2,072	2,371
Shareholder's Equity	3.5%	6,655	6,432	6,354	5,706	5,033
Retained Earnings	3.7%	3,431	3,310	3,207	2,805	2,324
Additional Paid-In Capital	2.9%	3,123	3,034	2,982	2,718	2,672
Shares Outstanding	0.6%	363	361	362	355	356
Minority Interest	20.4%	537	446	444	427	274

* denotes actual numbers (not divided by Millions)

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-63.9%	230	637	1,350	1,791	1,244
Share Based Compensation	7.0%	180	169	170	163	149
Cashflow From Investing	-33.7%	-877.60	-656.30	-653.20	-32.20	-41.70
Cashflow From Financing	-31.8%	-311.50	-236.30	-255.80	-242.50	276
Dividend Payments	7.5%	415	386	357	356	355
Buy Backs	-7.4%	224	242	232	162	85

Risks for CG

What is the probability of a big loss on CG?

71.2%

Probability that Carlyle Group The stock will be more than 20% underwater in next one year

50%

Probability that Carlyle Group The stock will be more than 30% underwater in next one year.

30.4%

Probability that Carlyle Group The stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CG drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Carlyle Group The was unfortunately bought at previous high price.

Drawdowns

Returns for CG

Cumulative Returns on CG

7.9%

10-Year Cumulative Returns

21.0%

7-Year Cumulative Returns

11.3%

5-Year Cumulative Returns

5.4%

3-Year Cumulative Returns

What are the long-term rolling returns for CG?

FIve years rolling returns for Carlyle Group The.

Annualized Returns

Which funds bought or sold CG recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-26	STRS OHIO	unchanged	-	172,000	1,283,000	0.01%
2023-01-26	Riverview Trust Co	sold off	-100	-10,000	-	-%
2023-01-26	Sumitomo Mitsui DS Asset Management Company, Ltd	unchanged	-	42,602	318,602	0.01%
2023-01-26	Yorktown Management & Research Co Inc	unchanged	-	42,304	316,304	0.39%
2023-01-25	FIFTH THIRD BANCORP	unchanged	-	9,200	65,200	-%
2023-01-25	Steel Peak Wealth Management LLC	sold off	-100	-438,000	-	-%
2023-01-25	STEPHENS INC /AR/	reduced	-1.45	267,000	2,202,000	0.04%
2023-01-24	XPONANCE, INC.	new	-	217,713	217,713	-%
2023-01-24	NATIONAL BANK OF CANADA /FI/	added	84.44	33,046,200	62,292,200	0.16%
2023-01-24	Sigma Planning Corp	added	0.55	206,402	1,485,400	0.05%

Latest Funds Activity

Are funds buying CG calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CG

No. of Funds

Carlyle Group The News

Schedule 13G FIlings of Carlyle Group The

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jun 14, 2022	carlyle group management l.l.c.	42.1%	152,131,004	SC 13D/A
Feb 14, 2022	vulcan value partners, llc	4.66%	16,609,123	SC 13G/A
Feb 11, 2022	conway william e jr	9.0%	31,999,644	SC 13G/A
Feb 11, 2022	capital world investors	5.4%	19,315,259	SC 13G
Feb 11, 2022	d'aniello daniel a.	9.3%	32,999,644	SC 13G/A
Feb 11, 2022	rubenstein david m.	8.8%	31,249,644	SC 13G/A
Feb 10, 2022	morgan stanley	5.1%	18,224,322	SC 13G
Feb 09, 2022	vanguard group inc	5.31%	18,920,948	SC 13G
Nov 19, 2021	carlyle group management l.l.c.	43.7%	155,855,386	SC 13D/A
Aug 31, 2021	carlyle group management l.l.c.	45.4%	162,010,246	SC 13D/A

CG Fair Value

Recent SEC filings of Carlyle Group The

View All Filings

Date Filed	Form Type	Document
Jan 23, 2023	SC 13D	13D - Major Acquisition
Jan 23, 2023	3	Insider Trading
Jan 20, 2023	S-8	Employee Benefits Plan
Jan 03, 2023	4	Insider Trading
Dec 20, 2022	SC 13D/A	13D - Major Acquisition
Dec 01, 2022	40-6B/A	40-6B/A
Nov 10, 2022	13F-HR	Fund Holdings Report
Nov 08, 2022	8-K	Current Report
Nov 08, 2022	10-Q	Quarterly Report

Latest Insider Trading transactions for CG

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-08-01	Finn Christopher	sold	-1,288,940	37.85	-34,054	chief operating officer
2022-08-01	Larson Bruce M.	sold	-330,923	37.85	-8,743	chief human resources officer
2022-08-01	Ferguson Jeffrey W.	sold	-343,300	37.85	-9,070	general counsel
2022-08-01	Buser Curtis L.	sold	-1,471,990	37.85	-38,890	chief financial officer
2022-08-01	Andrews Charles Elliott Jr.	sold	-177,819	37.85	-4,698	chief accounting officer
2022-07-15	CLARE PETER J	acquired	-	-	14,404	see remarks.
2022-06-09	CLARE PETER J	acquired	-	-	13,262	see remarks.
2022-06-06	Rubenstein David M.	sold	-77,340,000	38.67	-2,000,000	-
2022-05-01	ORDAN MARK S	acquired	-	-	5,236	-
2022-05-01	HANCE JAMES H JR	acquired	-	-	5,236	-

About Carlyle Group The

Kewsong Lee

www.carlyle.com

1850

The Carlyle Group Inc. is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES. The firm invests across four segments which include Corporate Private Equity, Real Assets, Global Market Strategies, and Solutions. The firm typically invests in industrial, agribusiness, ecological sector, fintech, airports, parking, Plastics, Rubber, diversified natural resources, minerals, farming, aerospace, defense, automotive, consumer, retail, industrial, infrastructure, energy, power, healthcare, software, software enabled services, semiconductors, communications infrastructure, financial technology, utilities, gaming, systems and related supply chain, electronic systems, systems, oil and gas, processing facilities, power generation assets, technology, systems, real estate, financial services, transportation, business services, telecommunications, media, and logistics sectors. Within the industrial sector, the firm invests in manufacturing, building products, packaging, chemicals, metals and mining, forestry and paper products, and industrial consumables and services. In consumer and retail sectors, it invests in food and beverage, retail, restaurants, consumer products, domestic consumption, consumer services, personal care products, direct marketing, and education. Within aerospace, defense, business services, and government services sectors, it seeks to invest in defense electronics, manufacturing and services, government contracting and services, information technology, distribution companies. In telecommunication and media sectors, it invests in cable TV, directories, publishing, entertainment and content delivery services, wireless infrastructure/services, fixed line networks, satellite services, broadband and Internet, and infrastructure. Within real estate, the firm invests in office, hotel, industrial, retail, for sale residential, student housing, hospitality, multifamily residential, homebuilding and building products, and senior living sectors. The firm seeks to make investments in growing business including those with overleveraged balance sheets. The firm seeks to hold its investments for four to six years. In the healthcare sector, it invests in healthcare services, outsourcing services, companies running clinical trials for pharmaceutical companies, managed care, pharmaceuticals, pharmaceutical related services, healthcare IT, medical, products, and devices. It seeks to invest in companies based in Sub-Saharan focusing on Ghana, Kenya, Mozambique, Botswana, Nigeria, Uganda, West Africa, North Africa and South Africa focusing on Tanzania and Zambia; Asia focusing on Pakistan, India, South East Asia, Indonesia, Philippines, Vietnam, Korea, and Japan; Australia; New Zealand; Europe focusing on France, Italy, Denmark, United Kingdom, Germany, Austria, Belgium, Finland, Iceland, Ireland, Netherlands, Norway, Portugal, Spain, Benelux , Sweden, Switzerland, Hungary, Poland, and Russia; Middle East focusing on Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Turkey, and UAE; North America focusing on United States which further invest in Southeastern United States, Texas, Boston, San Francisco Bay Area and Pacific Northwest; Asia Pacific; Soviet Union, Central-Eastern Europe, and Israel; Nordic region; and South America focusing on Mexico, Argentina, Brazil, Chile, and Peru. The firm seeks to invest in food, financial, and healthcare industries in Western China. In the real estate sector, the firm seeks to invest in various locations a

CG Income Statement

2022-09-30

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Investment income	$ 422,300,000	$ 1,134,900,000	$ 1,846,700,000	$ 5,318,500,000
Interest and other income	35,500,000	21,900,000	92,500,000	63,300,000
Interest and other income of Consolidated Funds	79,700,000	62,100,000	204,600,000	185,300,000
Total revenues	1,088,500,000	1,639,500,000	3,719,300,000	6,783,000,000
Compensation and benefits
Cash-based compensation and benefits	251,400,000	224,900,000	779,700,000	685,200,000
Equity-based compensation	54,200,000	42,400,000	139,300,000	122,000,000.0
Performance allocations and incentive fee related compensation	163,500,000	495,200,000	741,200,000	2,355,800,000
Total compensation and benefits	469,100,000	762,500,000	1,660,200,000	3,163,000,000
General, administrative and other expenses	149,200,000	99,600,000	387,200,000	300,400,000
Interest	27,300,000	27,900,000	82,000,000.0	76,400,000
Interest and other expenses of Consolidated Funds	53,700,000	44,600,000	137,100,000	133,500,000
Other non-operating expenses	300,000	3,500,000	800,000	1,000,000.0
Total expenses	699,600,000	938,100,000	2,267,300,000	3,674,300,000
Other income
Net investment income (loss) of Consolidated Funds	(30,300,000)	(100,000)	(51,000,000.0)	9,600,000
Income before provision for income taxes	358,600,000	701,300,000	1,401,000,000	3,118,300,000
Provision for income taxes	76,200,000	153,900,000	274,900,000	733,500,000
Net income	282,400,000	547,400,000	1,126,100,000	2,384,800,000
Net income attributable to non-controlling interests in consolidated entities	1,600,000	14,600,000	28,300,000	57,700,000
Net income attributable to common shares	$ 280,800,000	$ 532,800,000	$ 1,097,800,000	$ 2,327,100,000
Net income attributable to The Carlyle Group Inc. per common share (see Note 14)
Basic (in dollars per share)	$ 0.77	$ 1.50	$ 3.04	$ 6.56
Diluted (in dollars per share)	$ 0.77	$ 1.46	$ 3.00	$ 6.42
Weighted-average common shares
Basic (in shares)	362,895,064	355,954,734	360,657,999	354,903,371
Diluted (in shares)	366,787,149	364,740,675	365,389,217	362,471,998
Fund management fees
Revenues
Fund management fees and incentive fees	$ 535,900,000	$ 407,500,000	$ 1,532,900,000	$ 1,182,900,000
Incentive fees
Revenues
Fund management fees and incentive fees	15,100,000	13,100,000	42,600,000	33,000,000.0
Performance allocations
Revenues
Investment income	298,100,000	974,500,000	1,346,200,000	4,841,300,000
Principal investment income
Revenues
Investment income	$ 124,200,000	$ 160,400,000	$ 500,500,000	$ 477,200,000

CG Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 1,361.9	$ 2,469.5
Cash and cash equivalents held at Consolidated Funds	177.2	147.8
Restricted cash	0.6	5.6
Corporate treasury investments	69.5	0.0
Investments, including accrued performance allocations of $7,428.7 million and $8,133.0 million as of September 30, 2022 and December 31, 2021, respectively	10,998.2	10,832.0
Investments of Consolidated Funds	6,409.7	6,661.0
Due from affiliates and other receivables, net	486.4	379.6
Due from affiliates and other receivables of Consolidated Funds, net	108.6	138.8
Fixed assets, net	134.4	143.9
Lease right-of-use assets, net	333.5	361.1
Deposits and other	69.4	61.7
Intangible assets, net	925.1	34.9
Deferred tax assets	17.9	14.5
Total assets	21,092.4	21,250.4
Liabilities and equity
Debt obligations	2,235.0	2,071.6
Loans payable of Consolidated Funds	5,516.9	5,890.0
Accounts payable, accrued expenses and other liabilities	379.4	379.7
Accrued compensation and benefits	4,347.7	4,955.0
Due to affiliates	351.6	388.1
Deferred revenue	394.2	120.8
Deferred tax liabilities	449.9	487.1
Other liabilities of Consolidated Funds	222.0	683.9
Lease liabilities	499.9	537.8
Accrued giveback obligations	40.9	30.2
Total liabilities	14,437.5	15,544.2
Commitments and contingencies
Common stock, $0.01 par value, 100,000,000,000 shares authorized (363,372,564 and 355,367,876 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively)	3.6	3.6
Additional paid-in-capital	3,123.0	2,717.6
Retained earnings	3,430.8	2,805.3
Accumulated other comprehensive loss	(439.7)	(247.5)
Non-controlling interests in consolidated entities	537.2	427.2
Total equity	6,654.9	5,706.2
Total liabilities and equity	$ 21,092.4	$ 21,250.4