CGBD (Carlyle Secured Lending, Inc.) Stock Financials & Earnings | Market Cap Arena

CGBD (Carlyle Secured Lending, Inc.) Stock Financials & Earnings | Market Cap Arena

CGBDCarlyle Secured Lending, Inc.

Mkt Cap$799M

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Revenue (TTM)$198M

Net Income (TTM)$70M

EPS (TTM)$1.02

Free Cash Flow (TTM)-$40M

Gross Margin70.9%

Op. Margin49.7%

Net Margin35.4%

FCF Margin-20.4%

P/S Ratio (TTM)4.0x

P/E Ratio (TTM)11.4x

YoY Rev Growth+17.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$47M	$30M	$29M
Q2 23	$25M	$7M	$5M
Q3 23	$51M	$33M	$31M
Q4 23	$50M	$30M	$30M
Q1 24	$50M	$32M	$30M
Q2 24	$38M	$21M	$20M
Q3 24	$39M	$22M	$20M
Q4 24	$41M	$24M	$22M
Q1 25	$35M	$17M	$15M
Q2 25	$39M	$17M	$15M
Q3 25	$49M	$27M	$24M
Q4 25	$75M	$80M	$44M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	5.5x	9.6x
Q2 23	5.2x	9.6x
Q3 23	5.2x	10.6x
Q4 23	4.6x	8.7x
Q1 24	4.5x	8.5x
Q2 24	4.2x	7.4x
Q3 24	4.5x	8.2x
Q4 24	4.8x	9.0x
Q1 25	5.2x	10.8x
Q2 25	5.2x	11.5x
Q3 25	4.9x	10.8x
Q4 25	4.0x	11.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$26M	$26M
Q2 23	$92M	$92M
Q3 23	$57M	$57M
Q4 23	$56M	$56M
Q1 24	$15M	$15M
Q2 24	$71M	$71M
Q3 24	$21M	$21M
Q4 24	$18M	$18M
Q1 25	$146M	$146M
Q2 25	-$231M	-$231M
Q3 25	$14M	$14M
Q4 25	$31M	$31M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+16.6%	+98.5%
Q2 23	+57.2%	+77.7%
Q3 23	-2.6%	+44.1%
Q4 23	+65.2%	+18.1%
Q1 24	+6.3%	+7.5%
Q2 24	+52.8%	-6.4%
Q3 24	-23.2%	-6.5%
Q4 24	-18.7%	-4.5%
Q1 25	-29.5%	+2.9%
Q2 25	+3.0%	+32.1%
Q3 25	+25.2%	+31.0%
Q4 25	+83.1%	+58.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 23	$1M
Q2 23	$2M
Q3 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$2M
Q4 24	$2M
Q1 25	$2M
Q2 25	$2M
Q3 25	$2M
Q4 25	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$23M	$0	$23M
Q2 23	$38M	$0	$38M
Q3 23	$20M	$0	$20M
Q4 23	$23M	$0	$23M
Q1 24	$29M	$0	$29M
Q2 24	$29M	$0	$29M
Q3 24	$26M	$0	$26M
Q4 24	$30M	$0	$30M
Q1 25	$146M	$0	$146M
Q2 25	$29M	$0	$29M
Q3 25	$52M	$0	$52M
Q4 25	$76M	$0	$76M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	56M	-5.4%
Q2 23	51M	-9.8%
Q3 23	56M	+10.2%
Q4 23	56M	+0.7%
Q1 24	56M	-0.1%
Q2 24	56M	+0.1%
Q3 24	56M	+0.1%
Q4 24	56M	+0.0%
Q1 25	57M	+1.6%
Q2 25	73M	+27.1%
Q3 25	73M	+0.0%
Q4 25	73M	+0.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$9K	2K
FY 15	$18K	2K
FY 16	$585K	150
FY 17	$852K	130
FY 18	$52K	2K
FY 19	$68K	2K
FY 20	$29K	2K
FY 21	$109K	2K
FY 22	$76K	2K
FY 23	$79K	2K
FY 24	$73K	2K
FY 25	$79K	3K