Carlyle Group Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Carlyle Group Inc reported revenue of $4.8B (-11.9% year on year) and net income of $944.7M (-13.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Fund management fees and incentive fees | $2.6B | $2.3B | $2.1B | $2.1B |
| Investment income | $1.3B | $2.3B | $44.8M | $1.9B |
| Interest and other income | $215.7M | $218.2M | $212.1M | $135.9M |
| Interest and other income of Consolidated Funds | $635.3M | $631.6M | $570.1M | $311.0M |
| Total revenues | $4.8B | $5.4B | $3.0B | $4.4B |
| Cash-based compensation and benefits | $895.2M | $875.5M | $1.0B | $1.1B |
| Equity-based compensation | $374.7M | $467.9M | $249.1M | $154.0M |
| Performance allocations and incentive fee related compensation | $936.3M | $1.4B | $1.1B | $719.9M |
| Total compensation and benefits | $2.2B | $2.7B | $2.4B | $1.9B |
| General, administrative and other expenses | $784.3M | $665.6M | $652.1M | $575.8M |
| Interest | $123.9M | $121.0M | $123.8M | $110.4M |
| Interest and other expenses of Consolidated Funds | $624.3M | $564.9M | $419.1M | $211.6M |
| Other non-operating (income) expenses | ($200.0K) | ($300.0K) | $200.0K | $1.0M |
| Total expenses | $3.7B | $4.1B | $3.6B | $2.8B |
| Net investment income of Consolidated Funds | $117.9M | — | — | ($41.5M) |
| Income (loss) before provision for income taxes | $1.2B | $1.4B | ($600.9M) | $1.6B |
| Provision (benefit) for income taxes | $214.5M | $302.6M | ($104.2M) | $287.8M |
| Net income (loss) | $944.7M | $1.1B | ($496.7M) | $1.3B |
| Net income attributable to non-controlling interests in consolidated entities | $136.0M | $70.7M | $111.7M | $59.7M |
| Net income (loss) attributable to The Carlyle Group Inc. | $808.7M | $1.0B | ($608.4M) | — |
| Basic (in dollars per share) | $2.25 | $2.85 | -$1.68 | $3.39 |
| Diluted (in dollars per share) | $2.18 | $2.77 | -$1.68 | $3.35 |
| Basic (in shares) | 359.7M | 358.6M | 361.4M | 361.3M |
| Diluted (in shares) | 370.9M | 368.0M | 361.4M | 365.7M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Fund management fees and incentive fees | $755.9M | $635.7M | $634.7M | $660.9M |
| Investment income (loss) | $113.9M | ($616.7M) | ($519.0M) | $694.0M |
| Interest and other income | $61.2M | $55.3M | $53.6M | $55.0M |
| Interest and other income of Consolidated Funds | $192.5M | $179.7M | $163.4M | $163.0M |
| Total revenues | $1.1B | $254.0M | $332.7M | $1.6B |
| Cash-based compensation and benefits | $261.9M | $227.1M | $216.2M | $238.4M |
| Equity-based compensation | $116.0M | $119.8M | $90.7M | $92.9M |
| Performance allocations and incentive fee related compensation | $93.6M | ($367.9M) | ($324.6M) | $443.6M |
| Total compensation and benefits | $471.5M | ($21.0M) | ($17.7M) | $774.9M |
| General, administrative and other expenses | $202.9M | $184.6M | $180.7M | $205.5M |
| Interest | $38.2M | $38.6M | $29.8M | $28.0M |
| Interest and other expenses of Consolidated Funds | $163.3M | $166.4M | $177.3M | $170.8M |
| Other non-operating income | $0 | — | $0 | ($100.0K) |
| Total expenses | $875.9M | $368.6M | $370.1M | $1.2B |
| Net investment income (loss) of Consolidated Funds | $26.2M | ($64.4M) | $123.2M | $46.8M |
| Income before provision for income taxes | $273.8M | ($179.0M) | $85.8M | $440.6M |
| Provision for income taxes | $49.0M | ($37.1M) | ($26.7M) | $112.5M |
| Net income | $224.8M | ($141.9M) | $112.5M | $328.1M |
| Net income attributable to non-controlling interests in consolidated entities | $87.7M | ($9.7M) | $111.6M | $8.4M |
| Net income attributable to The Carlyle Group Inc. | $137.1M | ($132.2M) | $900.0K | $319.7M |
| Basic (in dollars per share) | $0.38 | -$0.37 | $0.00 | $0.89 |
| Diluted (in dollars per share) | $0.37 | -$0.37 | $0.00 | $0.87 |
| Basic (in shares) | 357.8M | 359.2M | 360.1M | 360.4M |
| Diluted (in shares) | 367.3M | 359.2M | 376.5M | 367.0M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $2.0B | $1.3B | $1.4B | $1.4B |
| Cash and cash equivalents held at Consolidated Funds | $1.2B | $830.4M | $346.0M | $209.0M |
| Investments, including accrued performance allocations of $7,620.3 and $7,053.5 as of December 31, 2025 and 2024, respectively | $11.2B | $10.9B | $10.0B | $10.8B |
| Investments of Consolidated Funds | $12.5B | $7.8B | $7.3B | $6.9B |
| Due from affiliates and other receivables, net | $834.8M | $805.6M | $691.6M | $579.4M |
| Due from affiliates and other receivables of Consolidated Funds, net | $206.4M | $237.1M | $141.0M | $101.9M |
| Fixed assets, net | $224.9M | $185.3M | $161.5M | $139.9M |
| Lease right-of-use assets, net | $331.9M | $341.4M | $332.2M | $337.0M |
| Deposits and other | $100.9M | $56.4M | $70.6M | $78.4M |
| Intangible assets, net | $507.1M | $634.1M | $766.1M | $897.8M |
| Deferred tax assets | $32.2M | $27.6M | $16.5M | $15.8M |
| Total assets | $29.1B | $23.1B | $21.2B | $21.4B |
| Debt obligations | $3.0B | $2.1B | $2.3B | $2.3B |
| Loans payable of Consolidated Funds | $10.4B | $6.9B | $6.5B | $5.9B |
| Accounts payable, accrued expenses and other liabilities | $543.7M | $389.8M | $333.8M | $369.2M |
| Accrued compensation and benefits | $5.8B | $5.4B | $4.9B | $4.3B |
| Due to affiliates | $203.9M | $241.9M | $275.9M | $362.5M |
| Deferred revenue | $129.2M | $138.7M | $140.3M | $126.4M |
| Deferred tax liabilities | $106.3M | $137.0M | $45.3M | $402.7M |
| Other liabilities of Consolidated Funds | $1.3B | $861.6M | $374.4M | $279.3M |
| Lease liabilities | $470.2M | $488.6M | $488.1M | $502.9M |
| Accrued giveback obligations | $72.8M | $44.0M | $44.0M | $40.9M |
| Total liabilities | $22.1B | $16.8B | $15.4B | $14.6B |
| Common stock, $0.01 par value, 100,000,000,000 shares authorized (357,374,023 and 357,183,632 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | 3.6M | 3.6M | 3.6M | 3.6M |
| Additional paid-in capital | $4.3B | $3.9B | $3.4B | $3.1B |
| Retained earnings | $1.6B | $2.0B | $2.1B | $3.4B |
| Accumulated other comprehensive loss | ($170.2M) | ($329.8M) | ($297.3M) | ($322.2M) |
| Non-controlling interests in consolidated entities | $1.3B | $740.7M | $593.1M | $600.3M |
| Total equity | $7.1B | $6.3B | $5.8B | $6.8B |
| Total liabilities and equity | $29.1B | $23.1B | $21.2B | $21.4B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.3B | $1.7B | $2.2B | $1.3B |
| Cash and cash equivalents held at Consolidated Funds | $784.1M | $1.1B | $1.0B | $463.1M |
| Investments, including accrued performance allocations of $6,608.2 and $7,620.3 as of June 30, 2026 and December 31, 2025, respectively | $10.2B | $10.5B | $10.5B | $11.2B |
| Investments of Consolidated Funds | $13.3B | $14.3B | $11.1B | $9.9B |
| Due from affiliates and other receivables, net | $1.2B | $769.1M | $741.2M | $795.5M |
| Due from affiliates and other receivables of Consolidated Funds, net | $290.3M | $356.7M | $259.4M | $247.8M |
| Fixed assets, net | $248.3M | $234.9M | $199.1M | $191.7M |
| Lease right-of-use assets, net | $320.4M | $332.9M | $340.6M | $351.1M |
| Deposits and other | $91.8M | $98.4M | $89.6M | $82.9M |
| Intangible assets, net | $440.9M | $473.6M | $540.0M | $573.6M |
| Deferred tax assets | $30.2M | $30.1M | $28.3M | $25.7M |
| Total assets | $28.2B | $29.8B | $27.1B | $25.1B |
| Debt obligations | $3.0B | $3.0B | $3.0B | $2.2B |
| Loans payable of Consolidated Funds | $10.8B | $11.1B | $9.2B | $8.1B |
| Accounts payable, accrued expenses and other liabilities | $591.8M | $478.3M | $433.8M | $439.5M |
| Accrued compensation and benefits | $5.0B | $4.9B | $5.3B | $5.6B |
| Due to affiliates | $243.0M | $226.4M | $214.8M | $198.9M |
| Deferred revenue | $135.5M | $358.2M | $373.0M | $204.0M |
| Deferred tax liabilities | $16.0M | $55.2M | $80.7M | $128.3M |
| Other liabilities of Consolidated Funds | $642.8M | $1.7B | $1.1B | $1.0B |
| Lease liabilities | $450.5M | $466.8M | $479.6M | $493.7M |
| Accrued giveback obligations | $92.4M | $102.0M | $44.6M | $44.6M |
| Total liabilities | $21.0B | $22.5B | $20.2B | $18.4B |
| Common stock, $0.01 par value, 100,000,000,000 shares authorized (353,389,038 and 357,374,023 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively) | 3.5M | 3.6M | 3.6M | 3.6M |
| Additional paid-in-capital | $4.6B | $4.4B | $4.2B | $4.1B |
| Retained earnings | $873.8M | $1.2B | $1.6B | $1.9B |
| Accumulated other comprehensive loss | ($192.6M) | ($181.2M) | ($196.5M) | ($189.5M) |
| Non-controlling interests in consolidated entities | $2.0B | $2.0B | $1.2B | $857.1M |
| Total equity | $7.2B | $7.4B | $6.8B | $6.7B |
| Total liabilities and equity | $28.2B | $29.8B | $27.1B | $25.1B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $944.7M | $1.1B | ($496.7M) | $1.3B |
| Depreciation and amortization | $192.1M | $184.1M | $180.6M | $147.4M |
| Equity-based compensation | $374.7M | $467.9M | $249.1M | $154.0M |
| Non-cash performance allocations and incentive fees, net | ($278.5M) | ($359.3M) | $1.6B | $393.6M |
| Non-cash principal investment (income) loss | ($93.8M) | ($209.6M) | ($123.9M) | ($553.4M) |
| Other non-cash amounts | $33.9M | $1.8M | $23.8M | ($10.3M) |
| Realized/unrealized (gain) loss on investments of Consolidated Funds | ($16.5M) | ($96.4M) | ($246.9M) | $408.1M |
| Realized/unrealized (gain) loss from loans payable of Consolidated Funds | ($101.5M) | $72.4M | $240.0M | ($366.6M) |
| Purchases of investments by Consolidated Funds | ($11.7B) | ($7.4B) | ($3.1B) | ($3.8B) |
| Proceeds from sales and settlements of investments by Consolidated Funds | $6.4B | $5.5B | $2.3B | $2.9B |
| Non-cash interest income, net | ($29.2M) | ($20.8M) | ($27.2M) | ($12.1M) |
| Change in cash and cash equivalents held at Consolidated Funds | $119.3M | ($526.3M) | ($171.8M) | ($61.0M) |
| Change in other receivables held at Consolidated Funds | $50.2M | ($99.5M) | ($30.1M) | $19.3M |
| Change in other liabilities held at Consolidated Funds | $170.7M | $508.0M | $97.1M | ($336.8M) |
| Purchases of investments | ($403.6M) | ($385.9M) | ($301.2M) | ($629.9M) |
| Proceeds from the sale of investments | $832.9M | $498.0M | $472.2M | $474.9M |
| Payments of contingent consideration | ($2.7M) | ($4.1M) | ($68.6M) | ($5.7M) |
| Changes in deferred taxes, net | ($29.8M) | $91.2M | ($368.7M) | ($73.2M) |
| Change in due from affiliates and other receivables | $44.7M | ($27.6M) | ($33.4M) | ($82.5M) |
| Change in deposits and other | ($41.0M) | $8.5M | $6.3M | ($11.8M) |
| Change in accounts payable, accrued expenses and other liabilities | $149.7M | $58.8M | ($33.2M) | ($14.3M) |
| Change in accrued compensation and benefits | $95.1M | ($37.1M) | $10.6M | ($135.4M) |
| Change in due to affiliates | $27.0M | ($11.7M) | ($14.5M) | $1.7M |
| Change in lease right-of-use assets and lease liabilities | ($10.4M) | ($8.1M) | ($10.8M) | ($8.8M) |
| Change in deferred revenue | ($16.5M) | ($200.0K) | $15.3M | $4.5M |
| Net cash provided by (used in) operating activities | ($3.3B) | ($759.5M) | $204.9M | ($379.3M) |
| Purchases of corporate treasury investments | $0 | ($5.0M) | ($187.3M) | ($69.6M) |
| Proceeds from corporate treasury investments | $0 | $5.1M | $210.3M | $50.0M |
| Purchases of fixed assets, net | ($99.4M) | ($77.7M) | ($66.6M) | ($40.6M) |
| Net cash used in investing activities | ($99.4M) | ($77.6M) | ($43.6M) | ($828.8M) |
| Borrowings under credit facilities | $0 | $10.4M | $0 | $0 |
| Repayments under credit facilities | $0 | ($10.4M) | $0 | $0 |
| Issuance of 5.050% senior notes due 2035, net of financing costs | $794.9M | — | — | — |
| Proceeds from CLO borrowings, net of financing costs | $90.0M | $700.0K | $12.0M | $73.2M |
| Payments on CLO borrowings | ($56.5M) | ($120.5M) | ($17.2M) | ($16.7M) |
| Net borrowings on loans payable of Consolidated Funds | $4.0B | $1.8B | $700.6M | $624.2M |
| Dividends to common stockholders | ($505.1M) | ($503.0M) | ($497.7M) | ($443.6M) |
| Payment of deferred consideration for Carlyle Holdings units | $0 | ($68.8M) | ($68.8M) | ($68.8M) |
| Contributions from non-controlling interest holders | $711.7M | $319.5M | $177.0M | $391.2M |
| Distributions to non-controlling interest holders | ($340.8M) | ($178.4M) | ($139.7M) | ($216.8M) |
| Common shares repurchased and net share settlement of equity awards | -686.5M | -554.6M | -203.5M | -185.6M |
| Change in due to/from affiliates financing activities | ($29.8M) | ($37.1M) | ($62.3M) | ($81.2M) |
| Net cash provided by (used in) financing activities | $4.0B | $682.8M | ($99.6M) | $114.8M |
| Effect of foreign exchange rate changes | $91.6M | ($21.3M) | $18.9M | ($20.3M) |
| Increase (decrease) in cash, cash equivalents and restricted cash | $707.1M | ($175.6M) | $80.6M | ($1.1B) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $82.9M | ($141.9M) | $599.2M | $486.7M |
| Depreciation and amortization | $101.8M | $50.5M | $143.1M | $94.6M |
| Equity-based compensation | $235.8M | $119.8M | $287.1M | $196.4M |
| Non-cash performance allocations and incentive fees, net | $338.9M | $283.1M | $13.1M | ($250.6M) |
| Non-cash principal investment (income) loss | ($121.5M) | ($39.6M) | ($50.2M) | $32.6M |
| Other non-cash amounts | ($6.4M) | ($2.1M) | $35.9M | $36.8M |
| Realized/unrealized (gain) loss on investments of Consolidated Funds | $102.0M | $248.6M | ($100.1M) | ($11.6M) |
| Realized/unrealized (gain) loss from loans payable of Consolidated Funds | ($63.8M) | ($184.2M) | ($76.0M) | ($41.3M) |
| Purchases of investments by Consolidated Funds | ($6.1B) | ($4.1B) | ($9.0B) | ($4.0B) |
| Proceeds from sales and settlements of investments by Consolidated Funds | $4.4B | $2.2B | $5.2B | $2.3B |
| Non-cash interest income, net | ($9.5M) | ($4.2M) | ($13.0M) | ($8.7M) |
| Change in cash and cash equivalents held at Consolidated Funds | $658.4M | $169.0M | $317.1M | $405.4M |
| Change in other receivables held at Consolidated Funds | ($81.1M) | ($143.6M) | ($8.0M) | $10.5M |
| Change in other liabilities held at Consolidated Funds | ($461.0M) | $606.6M | $65.3M | ($14.0M) |
| Purchases of investments | ($283.6M) | ($148.2M) | ($251.1M) | ($144.3M) |
| Proceeds from the sale of investments | $321.1M | $160.8M | $664.0M | $469.6M |
| Payments of contingent consideration | $0 | $0 | ($2.7M) | ($1.0M) |
| Change in deferred taxes, net | ($72.4M) | ($45.4M) | ($67.5M) | ($16.5M) |
| Change in due from affiliates and other receivables | ($65.4M) | ($1.7M) | ($8.7M) | ($16.3M) |
| Change in deposits and other | $7.5M | $7.1M | ($25.4M) | ($24.9M) |
| Change in accounts payable, accrued expenses and other liabilities | $55.1M | ($66.1M) | $37.8M | $39.1M |
| Change in accrued compensation and benefits | ($243.1M) | ($461.2M) | ($61.4M) | ($116.2M) |
| Change in due to affiliates | $3.9M | $18.0M | $25.1M | $23.6M |
| Change in lease right-of-use assets and lease liabilities | ($7.9M) | ($4.5M) | ($9.7M) | ($6.3M) |
| Change in deferred revenue | $7.3M | $229.8M | $226.7M | $57.6M |
| Net cash used in operating activities | ($1.2B) | ($1.2B) | ($2.1B) | ($520.9M) |
| Purchases of fixed assets, net | ($60.1M) | ($28.1M) | ($57.4M) | ($34.2M) |
| Net cash used in investing activities | ($60.1M) | ($28.1M) | ($57.4M) | ($34.2M) |
| Payments on CLO borrowings | ($37.6M) | ($22.5M) | ($52.0M) | ($40.1M) |
| Proceeds from CLO borrowings, net of financing costs | $47.8M | $32.4M | $64.8M | $15.1M |
| Net borrowings on loans payable of Consolidated Funds | $949.6M | $579.8M | $2.8B | $1.1B |
| Dividends to common stockholders | ($252.1M) | ($126.4M) | ($379.2M) | ($252.7M) |
| Contributions from non-controlling interest holders | $799.5M | $783.9M | $599.1M | $231.3M |
| Distributions to non-controlling interest holders | ($161.1M) | ($89.8M) | ($308.1M) | ($198.4M) |
| Common shares repurchased and net share settlement of equity-based awards | -508.9M | -204.8M | -482.8M | -280.1M |
| Change in due to/from affiliates financing activities | ($208.7M) | $35.7M | $25.6M | ($3.4M) |
| Net cash provided by financing activities | $628.5M | $988.3M | $3.0B | $526.8M |
| Effect of foreign exchange rate changes | ($41.1M) | ($8.7M) | $82.3M | $38.7M |
| Increase (decrease) in cash, cash equivalents and restricted cash | ($715.6M) | ($290.9M) | $959.9M | $10.4M |
| Cash, cash equivalents and restricted cash, beginning of period | $2.0B | $2.0B | $1.3B | $1.3B |
| Cash, cash equivalents and restricted cash, end of period | $1.3B | $1.7B | $2.2B | $1.3B |
| Initial consolidation of Consolidated Funds | $750.2M | ($8.9M) | $55.0M | $55.0M |
| Net asset impact of deconsolidation of Consolidated Funds | ($731.8M) | — | ($512.5M) | ($26.6M) |
| Cash and cash equivalents | $1.3B | $1.7B | $2.2B | $1.3B |
| Restricted cash | $1.5M | $9.5M | $4.7M | $1.1M |
Carlyle Group Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.