The Carlyle Group Inc. (CG)
NEUTRAL基本面
58
价格
$48.82
市值
$17.59B
第一部分 · 这家公司值多少
概览
Carlyle raises money from pension funds, insurers and wealthy individuals and puts it to work through investment funds it manages, buying companies, lending to them, or backing other funds. It earns fees for managing that money and, when investments are eventually sold at a profit, a cut of the gains. Its own balance sheet stays relatively small; the assets that matter belong to the funds, and Carlyle is paid for running them well.
盈利方式
Most revenue comes from management fees charged as a percentage of the capital investors have committed, which keeps coming in whether markets are up or down. On top of that, Carlyle earns performance fees only when a fund's investments are sold above an agreed return threshold, so this part of revenue swings with deal activity and market conditions. Growth depends on raising ever-larger new funds and on the pace at which existing investments can be profitably sold.
分部营收
Buyout, growth, real estate and infrastructure funds that take ownership stakes in companies and assets to improve and later sell them.
Funds that lend directly to companies or buy debt, spanning direct lending, opportunistic credit, asset-backed and insurance-related strategies.
Buys stakes in existing private equity funds from other investors and co-invests alongside them, rather than running buyout deals directly.
护城河
专利与许可 · 狭窄Carlyle's edge is its track record and relationships with large institutional investors, built up over decades of fundraising — a reputation asset that is real but not exclusive. Rival firms with similarly long records compete for the same pool of capital, and an investor unhappy with returns can simply not commit to the next fund.
需求驱动因素
周期性Both fundraising and the pace of profitable exits track the broader investment cycle: institutions commit more capital and deals get sold at better prices when markets are strong, and both slow when markets turn. Management fees on already-committed capital cushion the swings, but performance-related revenue moves with the cycle.
主要风险
- Dependence on senior professionals — The company states that its business depends on senior investment professionals, including its chief executive, and that losing them or a loss of investor confidence in them could materially hurt results.
- Revenue variability — Revenue, earnings and cash flow can vary materially from period to period because performance fees depend on when and at what price investments are sold, making steady quarterly growth difficult to achieve.
- Fundraising is never guaranteed — Future fee revenue depends on raising successor funds of comparable or larger size. Investors are free to reduce commitments or move to competitors if past returns or terms disappoint them.
- Priority on investor interests over near-term results — The company may reduce fees, restrain the growth of assets under management, or otherwise act in the interest of fund investors even when that works against near-term shareholder results.
看多理由
Buyers argue that growing fee-related earnings and record fee-earning assets under management show the business scaling profitably, that diversification across private equity, credit and fund-of-funds smooths the cycle, and that a decades-long fundraising record gives Carlyle an edge in attracting the next round of institutional capital.
看空理由
Sellers fear that performance-related revenue can swing sharply when deal markets slow, that the business leans heavily on a small group of senior professionals whose departure would be hard to replace, and that fundraising success is never assured from one fund cycle to the next.
Written by the editors, published on 2026年8月18日
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资产负债表与流动性
营收
$3.61B
最近12个月（截至2026/6/30）
净利润
$364M
最近12个月（截至2026/6/30）
自由现金流
$-3.37B
股东权益合计
$7.06B
负债合计
$22.06B
流动比率
0.56
利息覆盖率
-
债务/EBITDA
-
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$72.90
当前价格
$48.82
安全边际
+33.0%
公允价值区间
$47.38 - $98.41
估算方法
估值指标
市盈率（P/E）
51.19
ROE
11.5%
市净率（P/B）
2.43
P/FCF
-
毛利率
-
ROIC
-
盈利能力雷达图
Value Creation (Economic Moat)
ROIC
-
WACC
12.9%
ROIC − WACC
-
基本面分析标准
通过（12）
- EPS shows upward trend
- EPS CAGR 13.72%
- Price CAGR 12.47%
- P/B Ratio 2.43
- Debt/Equity ratio
- Low reliance on intangibles
- DCF valuation (Undervalued)
- ROE 9.7%
- Revenue Growth 5Y 10.3%
- Analyst Consensus 58% Buy
- PEG Ratio 1.91
- Share Dilution 0.7%
未通过（7）
- Positive Free Cash Flow
- Return on Tangible Assets
- Price below Graham Number
- Earnings Surprise avg -1.1%
- Earnings Quality (OCF/NI) -10.99
- Net Margin Trend 10.1% vs 20.2%
- Piotroski F-Score 2/9
不可用（9）
- ROIC NaN%
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Operating Margin NaN%
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
Piotroski F-评分
存在严重财务隐患
盈利质量
低质量：需深入审查会计处理
股权稀释
股份数量稳定
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Harvey Mitchell Schwartz | Partner, CEO & Director | 60 |
| Ms. Lindsay P. Lobue | Chief Operating Officer | 50 |
| Ms. Kate Marsh | Principal and Head of Client Service Operations in Investor Relations | - |
审计风险
2
董事会风险
5
薪酬风险
9
股东权利风险
7
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
Latest News
Recent headlines for CG, sourced from Markets Gazette.
- 20d agoNEUTRALCarlyle Says PE Exit Market Open for Sellers of ‘Good Companies’
Carlyle Group Inc. (CG) is observing an improvement in the private equity exit market, according to CFO Justin Plouffe. The firm is noting an accelerated pace for divesting investments across various sectors, indicating a more favorable environment for sellers of well-performing companies. This suggests that capital markets are becoming more receptive to transactions, potentially leading to increased deal activity and liquidity for private equity firms and their portfolio companies. Investors in Carlyle may see this as a positive sign for future returns, though the overall market impact remains to be seen.
- 7/21/2026NEUTRALCarlyle in Talks to Hand ESG Consulting Firm Over to Bridgepoint
Carlyle Group Inc. is reportedly in negotiations to transfer its sustainability consultancy, Anthesis Group, to its private credit provider, Bridgepoint Group Plc. This potential transaction suggests a restructuring or deleveraging effort by Carlyle, aiming to offload a non-core asset or manage its debt obligations. For investors, the outcome could impact Carlyle's balance sheet and its strategic focus. The news does not provide immediate financial figures or performance indicators for either company, thus presenting a neutral outlook pending further details on the deal's terms and implications.
- 7/3/2026NEUTRALCarlyle Hires Banks for $400 Million India IPO of RCM Business
Carlyle Group Inc. is reportedly preparing for a potential initial public offering (IPO) of its India-based healthcare revenue cycle management business, aiming for a valuation of approximately $400 million. The private equity giant has enlisted JM Financial Ltd. and Goldman Sachs Group Inc. to manage the process. While the IPO itself is a positive step for the business unit, the news primarily concerns the strategic divestment plans of Carlyle and the preparation for a new listing, rather than an immediate impact on Carlyle's current stock performance. Investors will await further details on the IPO's progress and valuation.
- 6/22/2026NEUTRALCarlyle Rethinks Portfolio Risk to Give Weather Insurance a Bigger Role
Carlyle Group Inc. is implementing a new framework to assess portfolio risk, explicitly incorporating the financial implications of severe weather events. This strategic shift aims to better reflect the impact of climate-related shocks on asset valuations. While the specific details of the framework and its immediate impact on Carlyle's portfolio are yet to be fully disclosed, the move signals a proactive approach to managing climate-related financial risks. Investors will be watching for how this integration affects performance metrics and future investment strategies.
- 6/12/2026NEUTRALDeal Dispatch: Carlyle Buys Chung Ho Group, Second Nature Brands Acquires Tillamook Country Smoker, GoHealth Bankruptcy
Carlyle Group Inc. has announced its acquisition of Chung Ho Group, a significant move in the private equity landscape. This deal, alongside other strategic transactions like Second Nature Brands acquiring Tillamook Country Smoker and Arcline acquiring Continental, highlights active deal-making. SGMO is exploring strategic alternatives, and ZOOZ is considering complementing its Bitcoin strategy, indicating varied corporate strategies. Mill Point's acquisition of Total Safety further underscores the dynamic M&A environment. Investors should monitor Carlyle's integration strategy for Chung Ho Group and the broader implications of these diverse corporate actions.
- 6/10/2026NEUTRALCarlyle Seeks Banks for India IPO of Healthcare RCM Provider
Carlyle Group Inc. is reportedly preparing for a potential initial public offering (IPO) in India for its recently acquired healthcare billing service business. The private equity giant has invited investment banks to pitch for advisory roles. This move signals Carlyle's strategy to monetize its investments through public markets, potentially unlocking significant value for its stakeholders. The specific details of the healthcare business and its valuation are yet to be disclosed, but the intention to list in India highlights the growing attractiveness of the Indian market for global investors and healthcare services.
- 5/7/2026NEGATIVECarlyle Hit By Massive Investment Losses, Revenue Plunges Nearly 74%
Carlyle Group Inc. reported a significant revenue decline of nearly 74%, falling from $973 million in Q1 2025 to $254 million in Q1 2026. This sharp drop in revenue indicates substantial investment losses and a considerable downturn in the company's financial performance. Investors will be closely monitoring the company's strategies to address these losses and stabilize its revenue streams. The magnitude of the decline suggests potential headwinds for the private equity firm and its portfolio.
- 5/5/2026NEUTRALCarlyle’s $5B Private Equity Shakeup
Carlyle Co-President John Redett discussed a significant $5 billion liquidity strategy at the Milken Conference, aimed at fundamentally altering the private equity landscape. Redett addressed the underlying causes of the industry's current exit slowdown and cautioned against the prevailing AI investment fervor, advocating for diversification over speculative hype. This strategic discussion highlights Carlyle's proactive approach to navigating market challenges and its perspective on sustainable investment practices within private equity.
via Markets Gazette