CG financial statements

The full income statement, balance sheet, and cash-flow statement for The Carlyle Group Inc. (CG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 356.4M2024-09 357.7M2024-12 361.2M2025-03 361.1M2025-06 361.7M2025-09 360.4M2025-12 361.2M2026-03 360.0M2026-06 356.3M-0.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	4.78B YoY-11.9%	5.43B YoY+83.1%	2.96B YoY-33.2%	4.44B YoY-49.5%	8.78B YoY+199.3%
Selling, general & administrative	—	—	—	576M YoY+33.4%	432M YoY+23.6%
General & administrative	—	—	—	576M YoY+33.4%	432M YoY+23.6%
Amortization of intangibles	131M YoY+0.2%	131M YoY-3.1%	135M YoY+29.9%	104M YoY+918.6%	10.2M YoY-30.1%
Interest expense	124M YoY+2.4%	121M YoY-2.3%	124M YoY+12.1%	110M YoY-2.6%	113M YoY+20.5%
Interest & investment income	577M YoY-0.1%	578M YoY+12.7%	512M YoY+81.5%	282M YoY+22.0%	231M YoY+9.3%
Other non-operating income	200K YoY-33.3%	300K YoY+250.0%	-200K YoY+80.0%	-1.00M YoY+33.3%	-1.50M YoY-120.8%
Pre-tax income	1.16B YoY-16.8%	1.39B YoY+331.9%	-601M YoY-138.2%	1.57B YoY-61.0%	4.03B YoY+594.4%
Income tax	215M YoY-29.1%	303M YoY+390.4%	-104M YoY-136.2%	288M YoY-70.7%	982M YoY+398.1%
	809M YoY-20.7%	1.02B YoY+267.7%	-608M YoY-149.7%	1.23B YoY-58.8%	2.97B YoY+754.3%
Net income to non-controlling interest	136M YoY+92.4%	70.7M YoY-36.7%	112M YoY+87.1%	59.7M YoY-15.3%	70.5M YoY+103.8%
Net income to common	809M YoY-20.7%	1.02B YoY+267.7%	-608M YoY-149.7%	1.23B YoY-58.8%	2.97B YoY+754.3%
	$2.18 YoY-21.3%	$2.77 YoY+264.9%	-$1.68 YoY-150.1%	$3.35 YoY-59.1%	$8.20 YoY+745.4%
EPS (basic)	$2.25 YoY-21.1%	$2.85 YoY+269.6%	-$1.68 YoY-149.6%	$3.39 YoY-59.5%	$8.37 YoY+745.5%
	360M YoY+0.3%	359M YoY-0.8%	361M YoY+0.0%	361M YoY+1.7%	355M YoY+1.4%
	371M YoY+0.8%	368M YoY+1.8%	361M YoY-1.2%	366M YoY+0.9%	363M YoY+1.2%
Dividends per share	$1.40 YoY+0.0%	$1.40 YoY+0.0%	$1.40 YoY+14.9%	$1.22 YoY+22.0%	$1.00 YoY+0.7%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	1.97B YoY+55.6%	1.27B YoY-12.1%	1.44B YoY+5.8%	1.36B YoY-44.9%	2.47B YoY+150.1%
	29.1B YoY+26.0%	23.1B YoY+9.1%	21.2B YoY-1.1%	21.4B YoY+0.7%	21.3B YoY+35.8%
Property, plant & equipment	225M YoY+21.4%	185M YoY+14.7%	162M YoY+15.4%	140M YoY-2.8%	144M YoY-3.6%
Operating lease right-of-use	332M YoY-2.8%	341M YoY+2.8%	332M YoY-1.4%	337M YoY-6.7%	361M YoY+0.0%
Goodwill	105M YoY+1.0%	104M YoY-0.4%	104M YoY+0.1%	104M YoY+681.2%	13.3M YoY-20.8%
Intangible assets	403M YoY-24.1%	531M YoY-19.9%	662M YoY-16.6%	794M YoY+3575.5%	21.6M YoY-32.3%
Deferred tax assets	32.2M YoY+16.7%	27.6M YoY+67.3%	16.5M YoY+4.4%	15.8M YoY+9.0%	14.5M YoY-85.0%
	22.1B YoY+31.6%	16.8B YoY+8.9%	15.4B YoY+5.6%	14.6B YoY-6.2%	15.5B YoY+22.3%
Long-term debt	—	—	—	2.27B YoY+9.7%	2.07B YoY+5.1%
Operating lease liability (total)	470M YoY-3.8%	489M YoY+0.1%	488M YoY-2.9%	503M YoY-6.5%	538M YoY+4.7%
Deferred tax liabilities	106M YoY-22.4%	137M YoY+202.4%	45.3M YoY-88.8%	403M YoY-17.3%	487M YoY+742.7%
	7.06B YoY+11.2%	6.35B YoY+9.7%	5.78B YoY-15.2%	6.82B YoY+19.5%	5.71B YoY+94.7%
Common stock	3.60M YoY+0.0%	3.60M YoY+0.0%	3.60M YoY+0.0%	3.60M YoY+0.0%	3.60M YoY+2.9%
Additional paid-in capital	4.29B YoY+10.1%	3.89B YoY+14.4%	3.40B YoY+8.4%	3.14B YoY+15.5%	2.72B YoY+6.7%
Retained earnings	1.64B YoY-19.5%	2.04B YoY-2.0%	2.08B YoY-38.8%	3.40B YoY+21.2%	2.81B YoY+705.7%
Accumulated other comprehensive income	-170M YoY+48.4%	-330M YoY-10.9%	-297M YoY+7.7%	-322M YoY-30.2%	-248M YoY-18.6%
Non-controlling interest	1.30B YoY+74.9%	741M YoY+24.9%	593M YoY-1.2%	600M YoY+40.5%	427M YoY+77.3%
Total equity incl. non-controlling	7.06B YoY+11.2%	6.35B YoY+9.7%	5.78B YoY-15.2%	6.82B YoY+19.5%	5.71B YoY+94.7%
Total liabilities & equity	29.1B YoY+26.0%	23.1B YoY+9.1%	21.2B YoY-1.1%	21.4B YoY+0.7%	21.3B YoY+35.8%
	357M YoY+0.1%	357M YoY-1.1%	361M YoY-0.3%	362M YoY+2.0%	355M YoY+0.5%
	357M YoY+0.1%	357M YoY-1.1%	361M YoY-0.3%	362M YoY+2.0%	355M YoY+0.5%
	361M YoY-0.0%	361M YoY-0.3%	362M YoY-0.6%	364M YoY+2.2%	356M YoY+0.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-3.28B YoY-331.3%	-760M YoY-470.7%	205M YoY+154.0%	-379M YoY-121.2%	1.79B YoY+1158.5%
Depreciation & amortization	192M YoY+4.3%	184M YoY+1.9%	181M YoY+22.5%	147M YoY+183.5%	52.0M YoY-0.2%
Intangible amortization	131M YoY+0.2%	131M YoY-3.1%	135M YoY+29.9%	104M YoY+918.6%	10.2M YoY-30.1%
Share-based compensation	375M YoY-19.9%	468M YoY+87.8%	249M YoY+61.8%	154M YoY-5.6%	163M YoY+55.3%
Deferred income taxes	-28.5M YoY-132.4%	87.9M YoY+124.0%	-366M YoY-491.4%	-61.8M YoY-112.0%	515M YoY+259.8%
	-99.4M YoY-28.1%	-77.6M YoY-78.0%	-43.6M YoY+94.7%	-829M YoY-2473.9%	-32.2M YoY+47.4%
Capital expenditure	99.4M YoY+27.9%	77.7M YoY+16.7%	66.6M YoY+64.0%	40.6M YoY-1.9%	41.4M YoY-32.4%
Free cash flow	-3.37B YoY-303.1%	-837M YoY-705.4%	138M YoY+132.9%	-420M YoY-124.0%	1.75B YoY+859.4%
Acquisitions	0.00	0.00	0.00 YoY-100.0%	150M	0.00
	3.99B YoY+484.4%	683M YoY+785.5%	-99.6M YoY-186.8%	115M YoY+147.3%	-243M YoY-165.5%
Long-term debt issued	795M	0.00	0.00 YoY-100.0%	73.2M	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	687M YoY+23.8%	555M YoY+172.5%	204M YoY+9.6%	186M YoY+14.7%	162M YoY+512.9%
Dividends paid	505M YoY+0.4%	503M YoY+1.1%	498M YoY+12.2%	444M YoY+24.7%	356M YoY+1.3%
FX effect on cash	91.6M YoY+530.0%	-21.3M YoY-212.7%	18.9M YoY+193.1%	-20.3M YoY+34.1%	-30.8M YoY-241.9%
Net change in cash	707M YoY+502.7%	-176M YoY-317.9%	80.6M YoY+107.2%	-1.11B YoY-175.0%	1.49B YoY+819.2%
Interest paid	91.7M YoY-2.0%	93.6M YoY+2.0%	91.8M YoY+0.3%	91.5M YoY-1.3%	92.7M YoY+15.7%
Income taxes paid	153M YoY-30.0%	219M YoY-12.5%	250M YoY-37.8%	402M YoY-0.1%	403M YoY+1037.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	21.3B YoY+17.1%	18.2B YoY+24.2%	14.7B YoY+35.3%	10.8B YoY-44.5%	19.6B YoY+75.7%
P/E	26.4× YoY+47.7%	17.9× YoY-74.3%	69.6× YoY+1020.3%	6.2× YoY-5.5%	6.6× YoY-79.4%
P/S	4.5× YoY+32.9%	3.4× YoY-36.9%	5.3× YoY+180.6%	1.9× YoY-14.8%	2.2× YoY-41.3%
P/B	3.0× YoY+5.3%	2.9× YoY+27.3%	2.3× YoY+38.4%	1.6× YoY-52.4%	3.4× YoY-9.8%
P/FCF	—	—	—	56.9× YoY+408.9%	11.2×
	3.8% YoY-32.3%	5.6% YoY+289.7%	1.4% YoY-91.1%	16.1% YoY+5.8%	15.2% YoY+386.3%
	—	—	—	1.8% YoY-80.3%	8.9%
	2.4% YoY-14.6%	2.8% YoY-19.4%	3.4% YoY-15.7%	4.1% YoY+124.4%	1.8% YoY-42.3%
Source filing	10-K	10-K	10-K	10-K/A	10-K

About this data

Source: CG's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CG filings on SEC EDGAR → Not investment advice.