Comprehensive Stock Comparison
Compare Brookfield Finance Inc. 4.625% (BNH) vs The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CGABL | 83.1% revenue growth vs BNH's -10.3% |
| Value | CGABL | Lower P/E (6.4x vs 76.7x) |
| Quality / Margins | CGABL | 18.8% net margin vs BNH's 0.7% |
| Stability / Safety | BNH | Beta 0.20 vs CGABL's 0.20 |
| Dividends | CGABL | 7.8% yield, vs BNH's 1.3% |
| Momentum (1Y) | CGABL | +4.0% vs BNH's -0.1% |
| Efficiency (ROA) | CGABL | 2.9% ROA vs BNH's 0.2%, ROIC 15.3% vs 3.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Brookfield Finance is a special purpose financing vehicle that issues debt securities to raise capital for its parent company's global investment operations. It generates revenue primarily through interest income from its debt portfolio — essentially borrowing money at one rate and lending it to Brookfield entities at a higher rate. Its key advantage is the backing and credit support from Brookfield Asset Management, which provides investor confidence through the parent company's strong balance sheet and diversified global asset base.
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 is a financing subsidiary that issues long-term debt securities to raise capital for The Carlyle Group's investment activities. It generates revenue through interest payments on these notes — which are subordinated to other debt — providing investors with fixed income while funding Carlyle's private equity, real estate, and credit investments. Its key advantage lies in being backed by The Carlyle Group's established global investment platform and creditworthiness, though the notes themselves represent a specific debt obligation rather than equity in the parent company.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CGABL leads in 3 of 6 categories — strongest in Financial Metrics and Profitability & Efficiency. 3 categories are tied.
Financial Metrics (TTM)
BNH is the larger business by revenue, generating $86.0B annually — 15.9x CGABL's $5.4B. CGABL is the more profitable business, keeping 18.8% of every revenue dollar as net income compared to BNH's 0.7%.
| Metric | BNHBrookfield Financ… | CGABLThe Carlyle Group… |
|---|---|---|
| RevenueTrailing 12 months | $86.0B | $5.4B |
| EBITDAEarnings before interest/tax | $28.0B | $249M |
| Net IncomeAfter-tax profit | $996M | $773M |
| Free Cash FlowCash after capex | -$2.8B | $1.1B |
| Gross MarginGross profit ÷ Revenue | +21.0% | +50.1% |
| Operating MarginEBIT ÷ Revenue | +20.9% | +25.2% |
| Net MarginNet income ÷ Revenue | +0.7% | +18.8% |
| FCF MarginFCF ÷ Revenue | -4.0% | +18.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | — | -81.6% |
Valuation Metrics
At 6.4x trailing earnings, CGABL trades at a 92% valuation discount to BNH's 76.7x P/E.
| Metric | BNHBrookfield Financ… | CGABLThe Carlyle Group… |
|---|---|---|
| Market CapShares × price | — | $6.3B |
| Enterprise ValueMkt cap + debt − cash | — | $5.1B |
| Trailing P/EPrice ÷ TTM EPS | 76.73x | 6.35x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 3.26x |
| Price / SalesMarket cap ÷ Revenue | — | 1.17x |
| Price / BookPrice ÷ Book value/share | 0.23x | 0.91x |
| Price / FCFMarket cap ÷ FCF | — | 6.26x |
Profitability & Efficiency
CGABL delivers a 9.6% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $1 for BNH.
| Metric | BNHBrookfield Financ… | CGABLThe Carlyle Group… |
|---|---|---|
| ROE (TTM)Return on equity | +0.6% | +9.6% |
| ROA (TTM)Return on assets | +0.2% | +2.9% |
| ROICReturn on invested capital | +3.4% | +15.3% |
| ROCEReturn on capital employed | +4.5% | +6.2% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 1.42x | — |
| Net DebtTotal debt minus cash | $219.7B | -$1.3B |
| Cash & Equiv.Liquid assets | $15.1B | $1.3B |
| Total DebtShort + long-term debt | $234.8B | $0 |
| Interest CoverageEBIT ÷ Interest expense | 1.17x | 2.60x |
Total Returns (with DRIP)
A $10,000 investment in BNH five years ago would be worth $9,352 today (with dividends reinvested), compared to $9,271 for CGABL. Over the past 12 months, CGABL leads with a +4.0% total return vs BNH's -0.1%. The 3-year compound annual growth rate (CAGR) favors CGABL at 4.6% vs BNH's 3.7% — a key indicator of consistent wealth creation.
| Metric | BNHBrookfield Financ… | CGABLThe Carlyle Group… |
|---|---|---|
| YTD ReturnYear-to-date | -0.4% | +2.9% |
| 1-Year ReturnPast 12 months | -0.1% | +4.0% |
| 3-Year ReturnCumulative with dividends | +11.5% | +14.4% |
| 5-Year ReturnCumulative with dividends | -6.5% | -7.3% |
| 10-Year ReturnCumulative with dividends | -12.8% | -7.3% |
| CAGR (3Y)Annualised 3-year return | +3.7% | +4.6% |
Risk & Volatility
BNH is the less volatile stock with a 0.20 beta — it tends to amplify market swings less than CGABL's 0.20 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | BNHBrookfield Financ… | CGABLThe Carlyle Group… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.20x | 0.20x |
| 52-Week HighHighest price in past year | $17.12 | $18.80 |
| 52-Week LowLowest price in past year | $14.50 | $16.43 |
| % of 52W HighCurrent price vs 52-week peak | +92.6% | +93.6% |
| RSI (14)Momentum oscillator 0–100 | 50.3 | 49.8 |
| Avg Volume (50D)Average daily shares traded | 25K | 34K |
Analyst Outlook
For income investors, CGABL offers the higher dividend yield at 7.77% vs BNH's 1.31%.
| Metric | BNHBrookfield Financ… | CGABLThe Carlyle Group… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | — |
| Price TargetConsensus 12-month target | — | — |
| # AnalystsCovering analysts | — | — |
| Dividend YieldAnnual dividend ÷ price | +1.3% | +7.8% |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $0.21 | $1.37 |
| Buyback YieldShare repurchases ÷ mkt cap | — | +8.8% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jun 21 | Feb 26 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 100 | 63.71 | -36.3% |
| The Carlyle Group I… (CGABL) | 102.09 | 69.85 | -31.6% |
Brookfield Finance … (BNH) returned -6% over 5 years vs The Carlyle Group I… (CGABL)'s -7%.
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | $19.9B | $86.0B | +331.9% |
| The Carlyle Group I… (CGABL) | $3.0B | $5.4B | +80.5% |
Brookfield Finance Inc. 4.625%'s revenue grew from $19.9B (2015) to $86.0B (2024) — a 17.7% CAGR. The Carlyle Group Inc. 4.625% Subordinated Notes due 2061's revenue grew from $3.0B (2015) to $5.4B (2024) — a 6.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 11.8% | 0.7% | -93.7% |
| The Carlyle Group I… (CGABL) | 13.3% | 18.8% | +41.3% |
Brookfield Finance Inc. 4.625%'s net margin went from 12% (2015) to 1% (2024). The Carlyle Group Inc. 4.625% Subordinated Notes due 2061's net margin went from 13% (2015) to 19% (2024).
Chart 4P/E Ratio History — 4 Years
| Stock | 2021 | 2024 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 15.8 | 80.9 | +412.0% |
| The Carlyle Group I… (CGABL) | 3 | 6.4 | +113.3% |
Brookfield Finance Inc. 4.625% has traded in a 16x–81x P/E range over 4 years; current trailing P/E is ~77x. The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 has traded in a 3x–6x P/E range over 3 years; current trailing P/E is ~6x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 1.01 | 0.21 | -79.5% |
| The Carlyle Group I… (CGABL) | 1.34 | 2.77 | +106.7% |
Brookfield Finance Inc. 4.625%'s EPS grew from $1.01 (2015) to $0.21 (2024) — a -16% CAGR. The Carlyle Group Inc. 4.625% Subordinated Notes due 2061's EPS grew from $1.34 (2015) to $2.77 (2024) — a 8% CAGR.
Chart 6Free Cash Flow — 5 Years
Brookfield Finance Inc. 4.625% generated $-3B FCF in 2024 (-448% vs 2021). The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 generated $1B FCF in 2024 (-42% vs 2021).
BNH vs CGABL: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is BNH or CGABL a better buy right now?
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) offers the better valuation at 6.4x trailing P/E, making it the more compelling value choice. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BNH or CGABL?
On trailing P/E, The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) is the cheapest at 6.4x versus Brookfield Finance Inc. 4.625% at 76.7x.
03Which is the better long-term investment — BNH or CGABL?
Over the past 5 years, Brookfield Finance Inc. 4.625% (BNH) delivered a total return of -6.5%, compared to -7.3% for The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL). A $10,000 investment in BNH five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CGABL returned -7.3% versus BNH's -12.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BNH or CGABL?
By beta (market sensitivity over 5 years), Brookfield Finance Inc. 4.625% (BNH) is the lower-risk stock at 0.20β versus The Carlyle Group Inc. 4.625% Subordinated Notes due 2061's 0.20β — meaning CGABL is approximately 2% more volatile than BNH relative to the S&P 500.
05Which has better profit margins — BNH or CGABL?
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) is the more profitable company, earning 18.8% net margin versus 0.7% for Brookfield Finance Inc. 4.625% — meaning it keeps 18.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CGABL leads at 25.2% versus 20.9% for BNH. At the gross margin level — before operating expenses — CGABL leads at 50.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — BNH or CGABL?
All stocks in this comparison pay dividends. The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) offers the highest yield at 7.8%, versus 1.3% for Brookfield Finance Inc. 4.625% (BNH).
07Is BNH or CGABL better for a retirement portfolio?
For long-horizon retirement investors, The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.20), 7.8% yield). Both have compounded well over 10 years (CGABL: -7.3%, BNH: -12.8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between BNH and CGABL?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BNH is a small-cap quality compounder stock; CGABL is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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