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Carlyle Group

Nasdaq:CG
Snowflake Description

Undervalued with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CG
Nasdaq
$7B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
  • Carlyle Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Carlyle Group has significant price volatility in the past 3 months.
CG Share Price and Events
7 Day Returns
-12.5%
NasdaqGS:CG
-1.2%
US Capital Markets
-2%
US Market
1 Year Returns
7.5%
NasdaqGS:CG
-14.1%
US Capital Markets
-15.1%
US Market
CG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Carlyle Group (CG) -12.5% -24.6% -36.8% 7.5% 25.5% -28.5%
US Capital Markets -1.2% -19.8% -24.6% -14.1% 1% 18.8%
US Market -2% -19.7% -23.2% -15.1% 3.7% 14.4%
1 Year Return vs Industry and Market
  • CG outperformed the Capital Markets industry which returned -14.1% over the past year.
  • CG outperformed the Market in United States of America which returned -15.1% over the past year.
Price Volatility
CG
Industry
5yr Volatility vs Market

Value

 Is Carlyle Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Carlyle Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Carlyle Group.

NasdaqGS:CG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $18.18 * 24.7%
$4.49
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $18.18
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:CG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.745 (1 + (1- 21%) (100.3%))
1.225
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.225 * 5.44%)
8.41%

Discounted Cash Flow Calculation for NasdaqGS:CG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Carlyle Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:CG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (24.7% – 8.41%) * $18.18)
$2.97
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $2.97 / (8.41% - 1.74%)
$44.51
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $18.18 + $44.51
$62.69
NasdaqGS:CG Discount to Share Price
Calculation Result
Value per share (USD) From above. $62.69
Current discount Discount to share price of $19.89
= -1 x ($19.89 - $62.69) / $62.69
68.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Carlyle Group is available for.
Intrinsic value
>50%
Share price is $19.89 vs Future cash flow value of $62.69
Current Discount Checks
For Carlyle Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Carlyle Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Carlyle Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Carlyle Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Carlyle Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:CG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $3.05
NasdaqGS:CG Share Price ** NasdaqGS (2020-04-03) in USD $19.89
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 33.79x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.4x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Carlyle Group.

NasdaqGS:CG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:CG Share Price ÷ EPS (both in USD)

= 19.89 ÷ 3.05

6.51x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carlyle Group is good value based on earnings compared to the US Capital Markets industry average.
  • Carlyle Group is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Carlyle Group's expected growth come at a high price?
Raw Data
NasdaqGS:CG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-9.3%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 36 Publicly-Listed Capital Markets Companies 2.07x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.89x

*Line of best fit is calculated by linear regression .

NasdaqGS:CG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.51x ÷ -9.3%

-0.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carlyle Group earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Carlyle Group's assets?
Raw Data
NasdaqGS:CG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $5.25
NasdaqGS:CG Share Price * NasdaqGS (2020-04-03) in USD $19.89
United States of America Capital Markets Industry PB Ratio Median Figure of 182 Publicly-Listed Capital Markets Companies 7.67x
United States of America Market PB Ratio Median Figure of 5,144 Publicly-Listed Companies 1.2x
NasdaqGS:CG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:CG Share Price ÷ Book Value per Share (both in USD)

= 19.89 ÷ 5.25

3.79x

* Primary Listing of Carlyle Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carlyle Group is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Carlyle Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Carlyle Group has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Carlyle Group expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-9.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Carlyle Group expected to grow at an attractive rate?
  • Carlyle Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Carlyle Group's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Carlyle Group's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:CG Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:CG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -9.3%
NasdaqGS:CG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -11.3%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:CG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:CG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 2,737 304 7
2020-12-31 2,396 248 5
2020-04-05
NasdaqGS:CG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 3,377 359 345
2019-09-30 3,068 486 338
2019-06-30 2,979 464 281
2019-03-31 2,811 20 196
2018-12-31 2,427 -344 93
2018-09-30 3,283 -484 162
2018-06-30 3,244 -918 195
2018-03-31 3,259 -545 189
2017-12-31 3,676 -7 238
2017-09-30 3,244 144 176
2017-06-30 3,212 467 133
2017-03-31 2,911 195 81

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Carlyle Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Carlyle Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:CG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Carlyle Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.00 3.00 3.00 1.00
2021-12-31 2.56 2.65 2.46 3.00
2020-12-31 2.12 2.20 2.04 4.00
2020-04-05
NasdaqGS:CG Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 3.05
2019-09-30 3.05
2019-06-30 2.59
2019-03-31 1.84
2018-12-31 0.89
2018-09-30 1.59
2018-06-30 1.96
2018-03-31 1.97
2017-12-31 2.58
2017-09-30 1.99
2017-06-30 1.55
2017-03-31 0.97

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Carlyle Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Carlyle Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Carlyle Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Carlyle Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Carlyle Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Carlyle Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Carlyle Group's 1-year earnings growth exceeds its 5-year average (271.7% vs 43%)
  • Carlyle Group's earnings growth has exceeded the US Capital Markets industry average in the past year (271.7% vs 9.7%).
Earnings and Revenue History
Carlyle Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Carlyle Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 3,377.00 345.30 494.40
2019-09-30 3,068.40 337.60 449.10
2019-06-30 2,978.90 280.80 493.60
2019-03-31 2,811.40 196.10 509.70
2018-12-31 2,427.20 92.90 492.20
2018-09-30 3,283.30 161.80 602.80
2018-06-30 3,244.10 194.80 511.00
2018-03-31 3,258.90 188.90 444.70
2017-12-31 3,676.20 238.10 478.80
2017-09-30 3,244.30 176.30 447.50
2017-06-30 3,211.70 132.50 562.00
2017-03-31 2,911.30 81.00 592.90
2016-12-31 2,274.30 6.40 521.10
2016-09-30 2,414.20 10.70 514.20
2016-06-30 2,104.40 -73.05 428.30
2016-03-31 2,352.50 -48.91 469.70
2015-12-31 3,006.20 -18.23 492.40
2015-09-30 3,129.50 2.46 461.60
2015-06-30 3,587.00 110.50 470.00
2015-03-31 3,869.70 99.42 455.90
2014-12-31 3,880.30 84.52 460.60
2014-09-30 4,680.00 139.31 440.80
2014-06-30 4,813.10 116.29 465.80
2014-03-31 4,443.60 93.82 467.90
2013-12-31 4,441.20 103.45 475.60
2013-09-30 3,557.70 44.57 470.10
2013-06-30 3,528.10 61.10 426.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Carlyle Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Carlyle Group used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Carlyle Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Carlyle Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Carlyle Group has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Carlyle Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Carlyle Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Carlyle Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Carlyle Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Carlyle Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Carlyle Group Company Filings, last reported 3 months ago.

NasdaqGS:CG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,969.60 6,683.00 969.80
2019-09-30 3,295.50 6,598.70 1,667.70
2019-06-30 3,618.30 6,038.10 946.10
2019-03-31 3,135.80 5,287.20 994.30
2018-12-31 2,836.30 6,390.50 926.40
2018-09-30 3,079.20 6,333.00 1,542.80
2018-06-30 3,123.30 6,427.00 1,330.60
2018-03-31 3,043.00 6,158.40 1,485.30
2017-12-31 2,949.00 5,877.40 1,431.80
2017-09-30 2,771.80 5,310.40 1,609.60
2017-06-30 2,121.80 5,230.90 1,256.30
2017-03-31 1,778.00 4,997.00 1,232.20
2016-12-31 1,454.00 5,210.90 1,471.80
2016-09-30 1,578.20 4,638.10 1,257.30
2016-06-30 1,786.70 4,661.60 1,259.90
2016-03-31 1,732.30 3,808.00 1,101.20
2015-12-31 8,923.50 18,275.80 2,654.60
2015-09-30 9,364.40 17,919.80 2,497.80
2015-06-30 11,344.10 17,987.40 2,354.00
2015-03-31 12,098.30 17,841.90 2,524.60
2014-12-31 12,856.00 17,345.30 2,855.60
2014-09-30 14,916.90 17,732.60 3,377.20
2014-06-30 15,030.60 17,437.90 3,609.60
2014-03-31 14,587.70 16,958.70 3,239.50
2013-12-31 14,729.40 16,283.40 2,414.70
2013-09-30 13,757.10 16,117.60 2,401.00
2013-06-30 13,809.60 15,943.00 2,836.30
  • Carlyle Group's level of debt (225%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (135.1% vs 225% today).
  • Debt is not well covered by operating cash flow (5.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.9x coverage).
X
Financial health checks
We assess Carlyle Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Carlyle Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Carlyle Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.93%
Current annual income from Carlyle Group dividends. Estimated to be 6.15% next year.
If you bought $2,000 of Carlyle Group shares you are expected to receive $119 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Carlyle Group's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.05%).
  • Carlyle Group's dividend is above the markets top 25% of dividend payers in United States of America (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:CG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1938 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:CG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.54 4.00
2021-12-31 1.21 12.00
2020-12-31 1.14 13.00
2020-04-05
NasdaqGS:CG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-05 1.180 4.718
2019-02-06 1.340 5.734
2018-02-15 1.410 6.764
2018-02-07 1.410 5.996
2017-02-10 1.550 7.824
2016-02-24 2.070 12.871
2016-02-10 2.070 15.016
2015-02-26 2.090 9.937
2015-02-11 2.090 7.695
2014-02-27 1.880 6.128
2014-02-19 1.880 5.116
2013-11-06 0.640 1.882
2013-02-21 3.400 11.917
2012-11-08 0.640 2.332
2012-08-08 0.640 2.479

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carlyle Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Carlyle Group only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Carlyle Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Carlyle Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Carlyle Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Carlyle Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Carlyle Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Glenn Youngkin
COMPENSATION $16,723,012
AGE 53
TENURE AS CEO 2.3 years
CEO Bio

Mr. Glenn A. Youngkin has been a Co-Chief Executive Officer of Carlyle Group Management L.L.C.- General Partner of Carlyle Group Inc. since January 1, 2018. Mr. Youngkin served as President and Chief Operating Officer at The Carlyle Group Inc. from June 2015 to December 31, 2018. Mr. Youngkin supervises the Energy and Natural Resources group. Mr. Youngkin helps develop and implement Carlyle's strategic growth initiatives and manage Carlyle's global operations on a day-to-day basis. He served as its Co-Chief Operating Officer of Carlyle Group Management LLC since 2011 to May 2014 and served as its Managing Director. He is also responsible for the energy and natural resources group at the firm. He joined The Carlyle Group Inc. in 1995. He also served as an Interim Principal Financial Officer from October 2010 until March 201. He was the Global Head of the Industrial Investment Team from 2005 to early 2008. Mr. Youngkin led Carlyle's buyout activities in the United Kingdom from 2000 to 2005 and he was part of the United States Buyout team from 1995 to 2000. He is employed at TCG Gestor Ltda. He served as the Managing Director and Member of the Board of AlpInvest Partners B.V. Previously, he was a Management Consultant at McKinsey & Company, Inc. where he worked on a variety of strategic and operating issues in the energy, consumer product and healthcare industries. He served at Credit Suisse Investment Holdings (UK). He served as a Manager of Kinder Morgan, Inc. since May 2007. Prior to McKinsey, Mr. Youngkin served with CS First Boston's Natural Resource Group, where he structured and executed both mergers & acquisition transactions and capital market financings. At CS First Boston, he was part of the Investment Banking Group. Mr. Youngkin serves on the Board of Directors of Britax Childcare, Scalina S.A., Rice Management Company, Ri-Happy Brinquedos S.A., Forgings International, Knight Holdings, CVC Brasil Operadora e Agência de Viagens S.A., Scalina S.A., Kuhlman Corporation, QinetiQ Limited, PQ Corporation, Veyance Technologies and John Maneely Company (Wheatland Pipe and Tubing). He serves as Director for Pq Holdings Inc. since 2007. He serves as a Non-Executive Director of QinetiQ North America, Inc. Mr. Youngkin serves as a Member of the Board of Directors of Imagitas, Inc. He also serves on the Board of Trustees for the National Cathedral School, Vestry of Holy Trinity Church, Norfolk Academy, The Langley School and AlphaUSA. He also serves on the Board of Governors the Dean's Advisory Board at Harvard Business School and the Board of Directors of Meadowkirk, Inc., He served as a Director of Firth Rixson Limited and Insight Health Services Holdings Corp. since October 1997. He served as a Director of Empi, Inc. since August 1999. He served as a Director of Kinder Morgan Kansas, Inc. since February 2011. He served as a Director of QinetiQ Group Plc until February 08, 2007 and Dr. Pepper Snapple Bottling Group, Inc. Mr. Youngkin has been registered with FSA for CF30 controlled function since 2007. Mr. Youngkin holds a M.B.A. from the Harvard Business School, where he was a Baker Scholar, a B.S. degree in Mechanical Engineering and a B.A. degree in Managerial Studies from Rice University.

CEO Compensation
  • Glenn's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Glenn's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Carlyle Group management team in years:

2.3
Average Tenure
54
Average Age
  • The tenure for the Carlyle Group management team is about average.
Management Team

Glenn Youngkin

TITLE
Co-CEO & Director of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$17M
AGE
53
TENURE
2.3 yrs

Kewsong Lee

TITLE
Co-CEO & Director of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$16M
AGE
53
TENURE
2.3 yrs

Curt Buser

TITLE
Former CFO & Director
COMPENSATION
$6M
AGE
56
TENURE
5.9 yrs

Christopher Finn

TITLE
Chief Operating Officer
COMPENSATION
$6M
TENURE
0.3 yrs

Peter Clare

TITLE
Chief Investment Officer
COMPENSATION
$3M
AGE
54
TENURE
0.3 yrs

Jeffrey Ferguson

TITLE
General Counsel
COMPENSATION
$4M
AGE
53
TENURE
21.3 yrs

Jim Hance

TITLE
Director of Carlyle Group Management L.L.C.- General Partner
AGE
75

Bill Conway

TITLE
Co-Founder & Co-Executive Chairman
COMPENSATION
$282K
AGE
69
TENURE
32.7 yrs

George Iain Main

TITLE
Chief Executive Officer of Solutions

Pamela Bentley

TITLE
Chief Accounting Officer
Board of Directors Tenure

Average tenure and age of the Carlyle Group board of directors in years:

2.3
Average Tenure
68
Average Age
  • The average tenure for the Carlyle Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

David Rubenstein

TITLE
Co-Founder & Co-Executive Chairman of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$282K
AGE
70
TENURE
2.3 yrs

Glenn Youngkin

TITLE
Co-CEO & Director of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$17M
AGE
53
TENURE
2.3 yrs

Kewsong Lee

TITLE
Co-CEO & Director of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$16M
AGE
53
TENURE
2.3 yrs

Daniel D'Aniello

TITLE
Co-Founder & Chairman Emeritus of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$282K
AGE
72
TENURE
2.3 yrs

Peter Clare

TITLE
Chief Investment Officer
COMPENSATION
$3M
AGE
54
TENURE
2.3 yrs

Jim Hance

TITLE
Director of Carlyle Group Management L.L.C.- General Partner
AGE
75
TENURE
7.9 yrs

Bill Conway

TITLE
Co-Founder & Co-Executive Chairman
COMPENSATION
$282K
AGE
69
TENURE
2.3 yrs

Allan Holt

TITLE
MD, Senior Partner & Chairman of the United States Buyout Group
AGE
67
TENURE
3.8 yrs

X.D. Yang

TITLE
MD, Co-Head of the Asia Buyout & Chairman of Carlyle Asia
AGE
54

Bill Shaw

TITLE
Director of Carlyle Group Management L.L.C.- General Partner
COMPENSATION
$265K
AGE
73
TENURE
7.9 yrs
Who owns this company?
Recent Insider Trading
  • Carlyle Group individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
06. Mar 20 Sell Pamela Bentley Individual 05. Mar 20 05. Mar 20 -20,000 $28.44 $-568,800
12. Feb 20 Sell Christopher Finn Individual 10. Feb 20 10. Feb 20 -73,594 $33.07 $-2,433,754
12. Feb 20 Sell Curtis Buser Individual 10. Feb 20 10. Feb 20 -36,773 $33.07 $-1,216,083
12. Feb 20 Sell Jeffrey Ferguson Individual 10. Feb 20 10. Feb 20 -55,026 $33.07 $-1,819,710
X
Management checks
We assess Carlyle Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Carlyle Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Want To Invest In The Carlyle Group LP (NASDAQ:CG)? Here's How It Performed Lately

Today I will examine The Carlyle Group LP's (NASDAQ:CG) latest earnings update (31 March 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of CG's industry performed. … View out our latest analysis for Carlyle Group? … CG's trailing twelve-month earnings (from 31 March 2018) of US$188.90m has

Simply Wall St -

Why I Like The Carlyle Group LP (NASDAQ:CG)

The Carlyle Group LP (NASDAQ:CG) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of CG, it

Simply Wall St -

Is Buying The Carlyle Group LP. (NASDAQ:CG) For Its Upcoming $0.27 Dividend A Good Choice?

See our latest analysis for Carlyle Group 5 questions to ask before buying a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is their annual yield among the top 25% of dividend payers? … NasdaqGS:CG Historical Dividend Yield May 6th 18 How does Carlyle Group fare? … Unfortunately, it is really too early to view Carlyle Group as a dividend investment.

Simply Wall St -

Should The Carlyle Group LP. (NASDAQ:CG) Be Part Of Your Dividend Portfolio?

See our latest analysis for Carlyle Group 5 checks you should use to assess a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … NasdaqGS:CG Historical Dividend Yield May 1st 18 Does Carlyle Group pass our checks? … Compared to its peers, Carlyle Group generates a yield of 6.88%, which is high for Capital Markets stocks.Next Steps: Keeping in mind the dividend characteristics above, Carlyle Group is definitely worth considering for investors looking to build a dedicated income portfolio.

Simply Wall St -

Should You Buy The Carlyle Group LP. (NASDAQ:CG) At $20.5?

This is based on its high beta, which is a good indicator for share price volatility. … However, with an expected decline of -9.41% in revenues over the next couple of years, near-term growth certainly doesn’t appear to be a driver for a buy decision for Carlyle Group. … If you are no longer interested in Carlyle Group, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

The Carlyle Group LP (NASDAQ:CG): Dividend Is Coming In 3 Days, Should You Buy?

Check out our latest analysis for Carlyle Group How I analyze a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … NasdaqGS:CG Historical Dividend Yield Feb 12th 18 How well does Carlyle Group fit our criteria? … Unfortunately, it is really too early to view Carlyle Group as a dividend investment.

Simply Wall St -

An Intrinsic Value Calculation For The Carlyle Group LP (NASDAQ:CG) Shows Investors Are Overpaying

NasdaqGS:CG Intrinsic Value Feb 7th 18 Deriving CG's Intrinsic Value The key belief for Excess Returns is, the value of the company is how much money it can generate from its current level of equity capital, in excess of the cost of that capital. … The returns above the cost of equity is known as excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (33.76% – 11.21%) * $6.04 = $1.36 Excess Return Per Share is used to calculate the terminal value of CG, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $1.36 / (11.21% – 2.47%) = $15.58 These factors are combined to calculate the true value of CG's stock: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $6.04 + $15.58 = $21.62 Relative to today's price of $24.35, CG is priced in-line with its intrinsic value.

Simply Wall St -

With An ROE Of 26.42%, Has The Carlyle Group LP's (CG) Management Done A Good Job?

However, ROE only measures returns against equity, not debt. … Return on Equity = Net Profit ÷ Shareholders Equity Returns are usually compared to costs to measure the efficiency of capital. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:CG Last Perf Nov 1st 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient CG is with its cost management.

Simply Wall St -

Company Info

Description

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

Details
Name: The Carlyle Group Inc.
CG
Exchange: NasdaqGS
Founded:
$6,950,541,803
349,449,060
Website: http://www.carlyle.com
Address: The Carlyle Group Inc.
1001 Pennsylvania Avenue, NW,
Washington,
District Of Columbia, 20004-2505,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS CG Common Stock Nasdaq Global Select US USD 03. May 2012
DB 3VU Common Stock Deutsche Boerse AG DE EUR 03. May 2012
BMV CG * Common Stock Bolsa Mexicana de Valores MX MXN 03. May 2012
Number of employees
Current staff
Staff numbers
1,775
Carlyle Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 01:05
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.