Carlyle Secured Lending (CGBD) Financials

$14.70 +0.20 (+1.34%)

As of 10:29 AM Eastern

Annual Income Statements for Carlyle Secured Lending

This table shows Carlyle Secured Lending's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	157	82	89	85
Consolidated Net Income / (Loss)	92	114	88	72
Net Income / (Loss) Continuing Operations	92	114	88	72
Total Pre-Tax Income	5.03	9.85	88	72
Total Operating Income	111	148	179	172
Total Gross Profit	165	207	237	228
Total Revenue	165	207	237	228
Operating Revenue	165	207	237	228
Total Cost of Revenue	0.00	0.00	0.00	0.00
Total Operating Expenses	54	59	58	56
Selling, General & Admin Expense	6.27	6.57	5.93	6.96
Other Operating Expenses / (Income)	47	53	52	49
Total Other Income / (Expense), net	-106	-138	-91	-100
Interest Expense	31	44	72	68
Interest & Investment Income	-84	-100	-21	-38
Other Income / (Expense), net	8.18	6.23	1.47	6.68
Preferred Stock Dividends Declared	3.50	3.50	3.50	3.50
Basic Earnings per Share	$2.89	$1.58	$1.75	$1.68
Weighted Average Basic Shares Outstanding	54.24M	52.11M	50.82M	50.83M
Diluted Earnings per Share	$2.69	$1.49	$1.64	$1.58
Weighted Average Diluted Shares Outstanding	59.53M	57.48M	56.31M	56.47M
Weighted Average Basic & Diluted Shares Outstanding	-	101.64M	101.59M	50.96M

This table shows Carlyle Secured Lending's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	37	12	27	14	29	19	28	18	19	20
Consolidated Net Income / (Loss)	36	44	21	14	24	26	26	28	17	4.83
Net Income / (Loss) Continuing Operations	36	31	21	14	24	26	26	28	17	4.83
Total Pre-Tax Income	4.49	-60	-6.00	14	-2.73	49	-2.61	0.82	-8.33	16
Total Operating Income	43	89	43	20	45	125	45	43	41	148
Total Gross Profit	59	105	57	28	60	157	60	58	55	186
Total Revenue	59	105	57	28	60	157	60	58	55	186
Operating Revenue	59	105	57	28	60	157	60	58	55	186
Total Operating Expenses	16	28	15	8.31	15	33	16	15	14	38
Selling, General & Admin Expense	1.72	2.53	1.17	1.01	1.61	2.17	1.96	1.44	1.61	2.79
Other Operating Expenses / (Income)	14	26	13	7.29	14	31	14	13	13	36
Total Other Income / (Expense), net	-39	-119	-49	-5.59	-47	-71	-47	-43	-49	-116
Interest Expense	12	-	17	-	18	-	18	17	17	17
Interest & Investment Income	-32	-82	-31	-	-33	-	-33	-26	-30	-54
Other Income / (Expense), net	5.39	-13	-0.32	-5.59	3.47	-25	3.45	0.16	-1.84	-45
Preferred Stock Dividends Declared	0.88	0.88	0.88	-	0.88	-	0.88	0.88	0.88	0.88
Basic Earnings per Share	$0.71	$0.24	$0.53	$0.08	$0.57	$0.57	$0.56	$0.35	$0.37	$0.40
Weighted Average Basic Shares Outstanding	51.86M	52.11M	50.89M	50.79M	50.79M	50.82M	50.79M	50.79M	50.84M	50.83M
Diluted Earnings per Share	$0.66	$0.23	$0.50	-	$0.54	-	$0.52	$0.33	$0.35	$0.38
Weighted Average Diluted Shares Outstanding	57.18M	57.48M	56.29M	50.79M	55.99M	56.31M	56.33M	56.37M	56.45M	56.47M
Weighted Average Basic & Diluted Shares Outstanding	51.36M	101.64M	50.79M	50.79M	50.79M	101.59M	50.79M	50.85M	50.91M	50.96M

This table details how cash moves in and out of Carlyle Secured Lending's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Change in Cash & Equivalents	25	-63	30	-3.87
Net Cash From Operating Activities	75	15	231	104
Net Cash From Continuing Operating Activities	75	15	231	104
Net Income / (Loss) Continuing Operations	160	86	92	89
Consolidated Net Income / (Loss)	160	86	92	89
Depreciation Expense	-53	26	-7.08	-18
Amortization Expense	-8.04	-8.61	-7.15	-7.52
Non-Cash Adjustments To Reconcile Net Income	-24	-88	152	42
Changes in Operating Assets and Liabilities, net	-0.49	-0.44	0.50	-0.85
Net Cash From Investing Activities	0.00	0.00	0.00	0.00
Net Cash From Continuing Investing Activities	0.00	0.00	0.00	0.00
Net Cash From Financing Activities	-51	-77	-201	-108
Net Cash From Continuing Financing Activities	-51	-77	-201	-108
Repayment of Debt	-358	-334	-355	-1,183
Repurchase of Common Equity	-28	-28	-3.99	0.00
Payment of Dividends	-84	-87	-93	-96
Issuance of Debt	419	372	252	1,171
Cash Interest Paid	29	38	68	64
Cash Income Taxes Paid	0.64	0.77	1.84	2.43

This table details how cash moves in and out of Carlyle Secured Lending's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	29	-38	12	11	1.07	5.23	9.47	22	-24	-12
Net Cash From Operating Activities	72	-20	26	92	57	56	81	71	63	-111
Net Cash From Continuing Operating Activities	72	-20	26	92	57	56	81	71	63	-111
Net Income / (Loss) Continuing Operations	38	12	28	4.71	30	30	29	19	20	21
Consolidated Net Income / (Loss)	38	12	28	4.71	30	30	29	19	20	21
Depreciation Expense	-5.80	6.87	-16	13	-0.32	-3.40	-18	12	-9.09	-3.42
Amortization Expense	-2.25	-1.77	-1.56	-1.63	-1.69	-2.26	-2.64	-2.47	-0.86	-1.55
Non-Cash Adjustments To Reconcile Net Income	44	-39	17	76	29	30	76	41	51	-125
Changes in Operating Assets and Liabilities, net	-1.57	1.60	-2.07	0.38	-0.06	2.25	-3.38	2.12	2.66	-2.26
Net Cash From Financing Activities	-43	-18	-13	-81	-56	-51	-72	-49	-86	99
Net Cash From Continuing Financing Activities	-43	-18	-13	-81	-56	-51	-72	-49	-86	99
Repayment of Debt	-125	-48	-31	-88	-67	-170	-97	-91	-553	-441
Payment of Dividends	-22	-22	-23	-23	-23	-23	-23	-25	-24	-24
Issuance of Debt	111	59	45	30	34	143	49	67	491	564
Cash Interest Paid	9.46	14	17	17	18	17	18	14	17	15

This table presents Carlyle Secured Lending's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Total Assets	2,031	2,042	1,943	1,926
Total Current Assets	4.55	5.76	5.50	6.17
Prepaid Expenses	4.55	5.76	5.50	6.17
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00
Total Noncurrent Assets	298	56	277	126
Long-Term Investments	0.53	1.53	0.04	25
Other Noncurrent Operating Assets	297	55	277	101
Total Liabilities & Shareholders' Equity	2,031	2,042	1,943	1,926
Total Liabilities	1,083	1,124	1,030	1,021
Total Current Liabilities	23	26	25	28
Accrued Expenses	2.73	3.21	2.61	5.06
Dividends Payable	21	22	22	23
Total Noncurrent Liabilities	1,059	1,099	1,005	993
Long-Term Debt	1,046	1,084	989	972
Other Noncurrent Operating Liabilities	13	15	16	21
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	949	917	913	905
Total Preferred & Common Equity	949	917	913	905
Preferred Stock	50	50	50	50
Total Common Equity	899	867	863	855
Common Stock	1,053	1,023	1,016	1,015
Retained Earnings	-153	-154	-152	-158
Other Equity Adjustments	-1.63	-1.63	-1.63	-1.63

This table presents Carlyle Secured Lending's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	2,054	2,055	1,983	1,957	1,895	1,867	1,817
Total Current Assets	3.66	5.89	5.93	7.52	6.25	6.34	7.04
Prepaid Expenses	3.66	5.89	5.93	7.52	6.25	6.34	7.04
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	111	86	90	98	113	143	110
Long-Term Investments	-	6.91	1.40	0.00	0.07	9.64	1.16
Other Noncurrent Operating Assets	106	79	89	98	113	134	109
Total Liabilities & Shareholders' Equity	2,054	2,055	1,983	1,957	1,895	1,867	1,817
Total Liabilities	1,118	1,137	1,083	1,050	978	956	910
Total Current Liabilities	23	24	24	24	25	27	29
Accrued Expenses	2.87	1.45	2.07	2.14	0.18	2.91	5.19
Dividends Payable	21	22	22	22	24	24	24
Total Noncurrent Liabilities	1,095	1,113	1,059	1,026	954	929	881
Long-Term Debt	619	1,099	1,044	1,011	938	916	857
Other Noncurrent Operating Liabilities	476	14	14	15	16	13	24
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	936	918	900	906	917	911	907
Total Preferred & Common Equity	936	918	900	906	917	911	907
Preferred Stock	50	50	50	50	50	50	50
Total Common Equity	886	868	850	856	867	861	857
Common Stock	1,032	1,019	1,019	1,019	1,016	1,016	1,017
Retained Earnings	-145	-149	-167	-161	-148	-154	-159
Other Equity Adjustments	-1.63	-1.63	-1.63	-1.63	-1.63	-1.63	-1.63

This table displays calculated financial ratios and metrics derived from Carlyle Secured Lending's official financial filings.

Metric	2021	2022	2023	2024
Growth Metrics	-	-	-	-
Revenue Growth	84.43%	21.03%	14.17%	-3.68%
EBITDA Growth	58.98%	191.85%	-2.84%	-8.26%
EBIT Growth	223.52%	29.18%	17.08%	-1.16%
NOPAT Growth	100.53%	25.85%	21.02%	-4.09%
Net Income Growth	148.98%	2.68%	-23.06%	-18.21%
EPS Growth	0.00%	-44.61%	10.07%	-3.66%
Operating Cash Flow Growth	-75.28%	-80.76%	1,489.09%	-54.79%
Free Cash Flow Firm Growth	0.00%	25.85%	-157.32%	518.00%
Invested Capital Growth	0.00%	0.00%	0.00%	-69.26%
Revenue Q/Q Growth	0.00%	0.00%	28.69%	14.35%
EBITDA Q/Q Growth	0.00%	0.00%	8.91%	2.12%
EBIT Q/Q Growth	0.00%	0.00%	15.59%	1.41%
NOPAT Q/Q Growth	0.00%	0.00%	78.49%	15.51%
Net Income Q/Q Growth	0.00%	0.00%	-16.54%	-22.95%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	-88.70%	48.97%	-61.55%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	138.43%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	35.59%	82.61%	70.30%	66.96%
Operating Margin	67.46%	71.41%	75.70%	75.38%
EBIT Margin	72.43%	74.42%	76.32%	78.31%
Profit (Net Income) Margin	55.74%	54.95%	37.03%	31.45%
Tax Burden Percent	1,827.00%	1,156.37%	100.00%	100.00%
Interest Burden Percent	4.21%	6.39%	48.53%	40.16%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	77.62%	0.00%	135.72%	99.57%
ROIC Less NNEP Spread (ROIC-NNEP)	83.45%	0.00%	163.92%	113.16%
Return on Net Nonoperating Assets (RNNOA)	-58.25%	0.00%	-116.52%	-91.68%
Return on Equity (ROE)	19.37%	0.00%	19.20%	7.89%
Cash Return on Invested Capital (CROIC)	-122.38%	0.00%	-64.28%	205.53%
Operating Return on Assets (OROA)	5.88%	0.00%	9.30%	9.23%
Return on Assets (ROA)	4.52%	0.00%	4.51%	3.71%
Return on Common Equity (ROCE)	18.35%	0.00%	18.15%	7.45%
Return on Equity Simple (ROE_SIMPLE)	9.68%	0.00%	9.60%	7.92%
Net Operating Profit after Tax (NOPAT)	111	148	179	172
NOPAT Margin	67.46%	71.41%	75.70%	75.38%
Net Nonoperating Expense Percent (NNEP)	-5.84%	0.00%	-28.20%	-13.59%
Return On Investment Capital (ROIC_SIMPLE)	5.57%	-	9.42%	9.15%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	3.80%	3.17%	2.51%	3.05%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	32.54%	28.59%	24.30%	24.62%
Earnings before Interest and Taxes (EBIT)	119	154	181	178
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	59	171	166	153
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.79	1.07
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.79	1.07
Price to Revenue (P/Rev)	0.00	2.82	2.88	4.00
Price to Earnings (P/E)	0.00	7.12	7.69	10.68
Dividend Yield	7.54%	11.77%	11.02%	8.20%
Earnings Yield	0.00%	14.04%	13.01%	9.36%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	6.52	23.53
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	7.27	8.38
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	10.35	12.51
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	9.53	10.70
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	9.61	11.11
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	7.46	18.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	5.38
Leverage & Solvency	-	-	-	-
Debt to Equity	1.10	0.00	1.08	1.07
Long-Term Debt to Equity	1.10	0.00	1.08	1.07
Financial Leverage	-0.70	0.00	-0.71	-0.81
Leverage Ratio	2.14	0.00	2.13	2.13
Compound Leverage Factor	0.09	0.00	1.03	0.85
Debt to Total Capital	52.45%	0.00%	52.00%	51.77%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	52.45%	0.00%	52.00%	51.77%
Preferred Equity to Total Capital	2.51%	0.00%	2.63%	2.66%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.05%	0.00%	45.37%	45.56%
Debt to EBITDA	17.84	0.00	5.94	6.37
Net Debt to EBITDA	17.83	0.00	5.94	6.20
Long-Term Debt to EBITDA	17.84	0.00	5.94	6.37
Debt to NOPAT	9.41	0.00	5.52	5.66
Net Debt to NOPAT	9.41	0.00	5.52	5.51
Long-Term Debt to NOPAT	9.41	0.00	5.52	5.66
Altman Z-Score	0.00	0.00	0.70	0.83
Noncontrolling Interest Sharing Ratio	5.27%	0.00%	5.48%	5.50%
Liquidity Ratios	-	-	-	-
Current Ratio	0.19	0.00	0.22	0.22
Quick Ratio	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	-175	148	-85	355
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-5.70	3.37	-1.18	5.18
Operating Cash Flow to Interest Expense	2.45	0.33	3.22	1.52
Operating Cash Flow Less CapEx to Interest Expense	2.45	0.33	3.22	1.52
Efficiency Ratios	-	-	-	-
Asset Turnover	0.08	0.00	0.12	0.12
Accounts Receivable Turnover	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-
Invested Capital	287	0.00	264	81
Invested Capital Turnover	1.15	0.00	1.79	1.32
Increase / (Decrease) in Invested Capital	287	0.00	264	-183
Enterprise Value (EV)	0.00	0.00	1,721	1,909
Market Capitalization	0.00	585	682	913
Book Value per Share	$16.57	$0.00	$16.99	$16.80
Tangible Book Value per Share	$16.57	$0.00	$16.99	$16.80
Total Capital	1,995	0.00	1,902	1,877
Total Debt	1,046	0.00	989	972
Total Long-Term Debt	1,046	0.00	989	972
Net Debt	1,046	0.00	989	946
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-19	0.00	-19	-22
Debt-free Net Working Capital (DFNWC)	-19	0.00	-19	-22
Net Working Capital (NWC)	-19	0.00	-19	-22
Net Nonoperating Expense (NNE)	19	34	91	100
Net Nonoperating Obligations (NNO)	-662	0.00	-649	-824
Total Depreciation and Amortization (D&A)	-61	17	-14	-26
Debt-free, Cash-free Net Working Capital to Revenue	-11.46%	0.00%	-8.21%	-9.56%
Debt-free Net Working Capital to Revenue	-11.46%	0.00%	-8.21%	-9.56%
Net Working Capital to Revenue	-11.46%	0.00%	-8.21%	-9.56%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$1.58	$1.75	$1.68
Adjusted Weighted Average Basic Shares Outstanding	0.00	52.11M	50.82M	50.83M
Adjusted Diluted Earnings per Share	$0.00	$1.49	$1.64	$1.58
Adjusted Weighted Average Diluted Shares Outstanding	0.00	57.48M	56.31M	56.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	101.64M	101.59M	50.96M
Normalized Net Operating Profit after Tax (NOPAT)	78	104	125	120
Normalized NOPAT Margin	47.22%	49.99%	52.99%	52.77%
Pre Tax Income Margin	3.05%	4.75%	37.03%	31.45%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	3.88	3.51	2.52	2.61
NOPAT to Interest Expense	3.62	3.37	2.50	2.51
EBIT Less CapEx to Interest Expense	3.88	3.51	2.52	2.61
NOPAT Less CapEx to Interest Expense	3.62	3.37	2.50	2.51
Payout Ratios	-	-	-	-
Dividend Payout Ratio	91.05%	76.23%	106.15%	133.94%
Augmented Payout Ratio	122.01%	101.22%	110.71%	133.94%

This table displays calculated financial ratios and metrics derived from Carlyle Secured Lending's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.15%	0.00%	26.81%	0.00%	1.00%	50.43%	4.90%	109.39%	-8.05%	18.18%
EBITDA Growth	36.57%	0.00%	-29.70%	56.68%	13.84%	16.85%	8.07%	115.23%	-37.13%	3.36%
EBIT Growth	63.76%	0.00%	21.51%	497.80%	-0.92%	32.20%	12.72%	213.43%	-19.05%	2.48%
NOPAT Growth	45.55%	0.00%	-2.84%	299.18%	-27.60%	100.35%	3.83%	122.79%	-8.61%	18.51%
Net Income Growth	-26.03%	0.00%	-34.26%	0.00%	-31.59%	-39.87%	25.58%	98.84%	-32.11%	-81.54%
EPS Growth	-17.50%	0.00%	-5.66%	0.00%	-18.18%	0.00%	4.00%	0.00%	-35.19%	0.00%
Operating Cash Flow Growth	0.00%	-121.28%	-49.69%	203.93%	-20.75%	379.13%	216.95%	-22.29%	9.88%	-299.12%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	-203.36%	0.00%	92.14%	96.21%	107.02%	337.16%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	124.16%	0.00%	49.44%	58.39%	-1.16%	-69.26%
Revenue Q/Q Growth	797.44%	76.88%	-45.12%	-51.53%	114.67%	160.11%	-61.73%	-3.26%	-5.73%	2,501.18%
EBITDA Q/Q Growth	154.06%	99.70%	-69.05%	-0.21%	84.59%	104.98%	-71.38%	98.73%	-46.08%	6,236.84%
EBIT Q/Q Growth	1,484.75%	56.03%	-43.73%	-67.28%	244.91%	108.18%	-52.02%	-9.02%	-10.92%	792.41%
NOPAT Q/Q Growth	539.69%	44.32%	-51.73%	-34.98%	59.81%	292.64%	-74.98%	39.52%	-34.45%	1,710.98%
Net Income Q/Q Growth	788.29%	22.16%	-52.75%	-32.31%	75.09%	8.01%	-1.33%	7.17%	-40.21%	-65.87%
EPS Q/Q Growth	842.86%	-65.15%	117.39%	0.00%	0.00%	0.00%	0.00%	-36.54%	6.06%	8.57%
Operating Cash Flow Q/Q Growth	181.59%	-127.68%	227.83%	259.98%	-37.79%	-2.50%	45.15%	-11.74%	-12.03%	-276.70%
Free Cash Flow Firm Q/Q Growth	0.00%	-100.00%	0.00%	-49.65%	-616.08%	-539.14%	97.78%	27.79%	1,424.35%	3,705.53%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	12.99%	12.35%	0.00%	-60.77%	19.76%	-29.89%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	68.36%	77.19%	43.53%	89.62%	77.06%	59.96%	44.84%	92.11%	52.69%	52.44%
Operating Margin	72.86%	84.92%	74.70%	70.15%	74.61%	79.18%	73.94%	74.64%	74.15%	79.40%
EBIT Margin	81.97%	72.31%	74.14%	50.05%	80.42%	63.55%	79.67%	74.92%	70.80%	55.11%
Profit (Net Income) Margin	60.27%	41.63%	35.84%	50.05%	40.82%	16.64%	42.90%	47.53%	30.14%	2.60%
Tax Burden Percent	793.21%	-72.14%	-343.20%	100.00%	-894.53%	52.92%	-990.00%	3,381.20%	-198.80%	30.32%
Interest Burden Percent	9.27%	-79.81%	-14.08%	100.00%	-5.67%	49.48%	-5.44%	1.88%	-21.42%	15.56%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	331.10%	0.00%	0.00%	141.96%	143.39%	199.13%	157.32%	104.88%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	333.33%	0.00%	0.00%	172.29%	144.03%	201.10%	158.78%	124.28%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-308.17%	0.00%	0.00%	-122.47%	-130.46%	-178.62%	-143.46%	-100.69%
Return on Equity (ROE)	0.00%	0.00%	22.93%	0.00%	10.50%	19.49%	12.93%	20.51%	13.86%	4.20%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-64.28%	169.50%	157.19%	230.87%	205.53%
Operating Return on Assets (OROA)	0.00%	0.00%	7.91%	0.00%	9.05%	7.74%	9.66%	10.51%	9.95%	6.49%
Return on Assets (ROA)	0.00%	0.00%	3.83%	0.00%	4.60%	2.03%	5.20%	6.66%	4.23%	0.31%
Return on Common Equity (ROCE)	0.00%	0.00%	21.68%	0.00%	9.93%	18.42%	12.22%	19.37%	13.09%	3.96%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	11.24%	0.00%	10.67%	0.00%	10.13%	11.71%	10.90%	0.00%
Net Operating Profit after Tax (NOPAT)	43	62	30	20	31	125	31	43	29	148
NOPAT Margin	72.86%	59.45%	52.29%	70.15%	52.22%	79.18%	51.76%	74.64%	51.90%	79.40%
Net Nonoperating Expense Percent (NNEP)	-1.15%	0.00%	-2.23%	-1.36%	-0.64%	-30.33%	-0.64%	-1.96%	-1.46%	-19.39%
Return On Investment Capital (ROIC_SIMPLE)	2.77%	-	1.49%	1.00%	1.63%	6.55%	1.68%	2.38%	1.62%	7.87%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	2.90%	2.41%	2.04%	3.64%	2.69%	1.38%	3.25%	2.47%	2.93%	1.50%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.14%	27.16%	25.30%	29.85%	25.39%	20.82%	26.06%	25.36%	25.85%	20.60%
Earnings before Interest and Taxes (EBIT)	48	76	43	14	48	100	48	44	39	102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	81	25	25	46	94	27	54	29	98
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.66	0.74	0.75	0.79	0.88	0.99	0.98	1.07
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.66	0.74	0.75	0.79	0.88	0.99	0.98	1.07
Price to Revenue (P/Rev)	0.00	2.82	2.59	0.00	2.85	2.88	3.19	3.17	3.18	4.00
Price to Earnings (P/E)	0.00	7.12	7.16	0.00	8.42	7.69	8.49	9.10	10.07	10.68
Dividend Yield	14.73%	11.77%	12.42%	11.68%	11.62%	11.02%	7.90%	7.66%	8.40%	8.20%
Earnings Yield	0.00%	14.04%	13.97%	0.00%	11.88%	13.01%	11.78%	10.99%	9.94%	9.36%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	24.69	21.95	19.36	6.52	16.93	14.61	20.10	23.53
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	7.80	0.00	7.54	7.27	7.32	6.71	6.59	8.38
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	10.65	0.00	10.47	10.35	10.41	9.19	9.71	12.51
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	10.58	0.00	10.26	9.53	9.42	8.40	8.46	10.70
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	15.28	0.00	14.54	9.61	9.70	8.85	8.70	11.11
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	11.00	7.46	6.13	6.82	6.44	18.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	11.97	11.40	8.66	5.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.00	1.20	1.16	1.11	1.08	1.02	1.01	0.95	1.07
Long-Term Debt to Equity	0.66	0.00	1.20	1.16	1.11	1.08	1.02	1.01	0.95	1.07
Financial Leverage	-1.39	0.00	-0.92	-0.91	-1.15	-0.71	-0.91	-0.89	-0.90	-0.81
Leverage Ratio	2.20	0.00	2.24	2.20	2.18	2.13	2.15	2.13	2.08	2.13
Compound Leverage Factor	0.20	0.00	-0.32	2.20	-0.12	1.05	-0.12	0.04	-0.45	0.33
Debt to Total Capital	39.81%	0.00%	54.49%	53.72%	52.72%	52.00%	50.58%	50.15%	48.59%	51.77%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	39.81%	0.00%	54.49%	53.72%	52.72%	52.00%	50.58%	50.15%	48.59%	51.77%
Preferred Equity to Total Capital	3.22%	0.00%	2.48%	2.57%	2.61%	2.63%	2.70%	2.74%	2.84%	2.66%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	56.97%	0.00%	43.03%	43.71%	44.67%	45.37%	46.73%	47.12%	48.57%	45.56%
Debt to EBITDA	0.00	0.00	6.84	0.00	6.21	5.94	5.57	4.65	4.76	6.37
Net Debt to EBITDA	0.00	0.00	6.80	0.00	6.21	5.94	5.57	4.60	4.75	6.20
Long-Term Debt to EBITDA	0.00	0.00	6.84	0.00	6.21	5.94	5.57	4.65	4.76	6.37
Debt to NOPAT	0.00	0.00	9.82	0.00	8.63	5.52	5.19	4.47	4.27	5.66
Net Debt to NOPAT	0.00	0.00	9.76	0.00	8.63	5.52	5.19	4.43	4.26	5.51
Long-Term Debt to NOPAT	0.00	0.00	9.82	0.00	8.63	5.52	5.19	4.47	4.27	5.66
Altman Z-Score	0.00	0.00	0.36	0.24	0.44	0.57	0.56	0.63	0.63	0.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	5.45%	5.56%	5.43%	5.48%	5.45%	5.52%	5.52%	5.50%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.16	0.00	0.25	0.24	0.31	0.22	0.25	0.24	0.24	0.22
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	407	0.00	-39	-59	-421	-139	-3.09	-2.23	30	330
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	34.11	0.00	-2.27	0.00	-23.10	0.00	-0.17	-0.13	1.75	19.30
Operating Cash Flow to Interest Expense	6.05	0.00	1.48	0.00	3.14	0.00	4.53	4.30	3.73	-6.49
Operating Cash Flow Less CapEx to Interest Expense	6.05	0.00	1.48	0.00	3.14	0.00	4.53	4.30	3.73	-6.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.11	0.00	0.11	0.12	0.12	0.14	0.14	0.12
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-364	0.00	69	78	88	264	104	124	87	81
Invested Capital Turnover	0.00	0.00	6.33	0.00	-1.64	1.79	2.77	2.67	3.03	1.32
Increase / (Decrease) in Invested Capital	-364	0.00	69	78	452	264	34	46	-1.02	-183
Enterprise Value (EV)	0.00	0.00	1,711	1,719	1,703	1,721	1,753	1,812	1,748	1,909
Market Capitalization	0.00	585	569	626	643	682	765	855	842	913
Book Value per Share	$17.08	$0.00	$17.08	$16.73	$16.86	$16.99	$17.07	$16.95	$16.85	$16.80
Tangible Book Value per Share	$17.08	$0.00	$17.08	$16.73	$16.86	$16.99	$17.07	$16.95	$16.85	$16.80
Total Capital	1,555	0.00	2,018	1,944	1,917	1,902	1,855	1,827	1,764	1,877
Total Debt	619	0.00	1,099	1,044	1,011	989	938	916	857	972
Total Long-Term Debt	619	0.00	1,099	1,044	1,011	989	938	916	857	972
Net Debt	619	0.00	1,093	1,043	1,011	989	938	906	856	946
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-20	0.00	-18	-18	-17	-19	-18	-20	-22	-22
Debt-free Net Working Capital (DFNWC)	-20	0.00	-18	-18	-17	-19	-18	-20	-22	-22
Net Working Capital (NWC)	-20	0.00	-18	-18	-17	-19	-18	-20	-22	-22
Net Nonoperating Expense (NNE)	7.44	19	9.45	5.59	6.81	98	5.33	16	12	143
Net Nonoperating Obligations (NNO)	-1,300	0.00	-849	-821	-818	-649	-813	-787	-820	-824
Total Depreciation and Amortization (D&A)	-8.05	5.10	-18	11	-2.01	-5.65	-21	10	-9.95	-4.96
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	-8.15%	0.00%	-7.50%	-8.21%	-7.64%	-7.56%	-8.32%	-9.56%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	-8.15%	0.00%	-7.50%	-8.21%	-7.64%	-7.56%	-8.32%	-9.56%
Net Working Capital to Revenue	0.00%	0.00%	-8.15%	0.00%	-7.50%	-8.21%	-7.64%	-7.56%	-8.32%	-9.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.71	$0.24	$0.53	$0.08	$0.57	$0.57	$0.56	$0.35	$0.37	$0.40
Adjusted Weighted Average Basic Shares Outstanding	51.86M	52.11M	50.89M	50.79M	50.79M	50.82M	50.79M	50.79M	50.84M	50.83M
Adjusted Diluted Earnings per Share	$0.66	$0.23	$0.50	$0.00	$0.54	$0.00	$0.52	$0.33	$0.35	$0.38
Adjusted Weighted Average Diluted Shares Outstanding	57.18M	57.48M	56.29M	50.79M	55.99M	56.31M	56.33M	56.37M	56.45M	56.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	51.36M	101.64M	50.79M	50.79M	50.79M	101.59M	50.79M	50.85M	50.91M	50.96M
Normalized Net Operating Profit after Tax (NOPAT)	30	62	30	14	31	87	31	30	29	103
Normalized NOPAT Margin	51.00%	59.45%	52.29%	49.11%	52.22%	55.42%	51.76%	52.25%	51.90%	55.58%
Pre Tax Income Margin	7.60%	-57.71%	-10.44%	50.05%	-4.56%	31.44%	-4.33%	1.41%	-15.16%	8.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.06	0.00	2.46	0.00	2.64	0.00	2.69	2.63	2.30	5.98
NOPAT to Interest Expense	3.61	0.00	1.74	0.00	1.71	0.00	1.75	2.62	1.69	8.62
EBIT Less CapEx to Interest Expense	4.06	0.00	2.46	0.00	2.64	0.00	2.69	2.63	2.30	5.98
NOPAT Less CapEx to Interest Expense	3.61	0.00	1.74	0.00	1.71	0.00	1.75	2.62	1.69	8.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	76.23%	85.84%	0.00%	94.47%	106.15%	100.00%	89.00%	96.61%	133.94%
Augmented Payout Ratio	0.00%	101.22%	110.50%	0.00%	106.18%	110.71%	100.00%	89.00%	96.61%	133.94%

Frequently Asked Questions About Carlyle Secured Lending's Financials

When does Carlyle Secured Lending's fiscal year end?

According to the most recent income statement we have on file, Carlyle Secured Lending's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Carlyle Secured Lending's net income changed over the last 3 years?

Carlyle Secured Lending's net income appears to be on a downward trend, with a most recent value of $71.68 million in 2024, falling from $91.88 million in 2021. The previous period was $87.63 million in 2023.

What is Carlyle Secured Lending's operating income?

Carlyle Secured Lending's total operating income in 2024 was $171.80 million, based on the following breakdown:

Total Gross Profit: $227.91 million
Total Operating Expenses: $56.11 million

How has Carlyle Secured Lending revenue changed over the last 3 years?

Over the last 3 years, Carlyle Secured Lending's total revenue changed from $164.84 million in 2021 to $227.91 million in 2024, a change of 38.3%.

How much debt does Carlyle Secured Lending have?

Carlyle Secured Lending's total liabilities were at $1.02 billion at the end of 2024, a 0.9% decrease from 2023, and a 5.7% decrease since 2021.

How has Carlyle Secured Lending's book value per share changed over the last 3 years?

Over the last 3 years, Carlyle Secured Lending's book value per share changed from 16.57 in 2021 to 16.80 in 2024, a change of 1.4%.

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This page (NASDAQ:CGBD) was last updated on 4/24/2025 by MarketBeat.com Staff

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Carlyle Secured Lending (CGBD) Financials

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Carlyle Secured Lending (CGBD) Financials

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