CG
The Carlyle Group Inc.
Asset Management
Market Cap$18.35B
5Y Perf.-0.5%
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Stock Comparison
CG vs TPG vs BX vs KKR
Revenue, margins, valuation, and 5-year total return — side by side.
TPG
TPG Inc.
Asset Management
Market Cap$17.26B
5Y Perf.+34.1%
BX
Blackstone Inc.
Asset Management
Market Cap$97.70B
5Y Perf.-5.5%
KKR
KKR & Co. Inc.
Asset Management
Market Cap$89.86B
5Y Perf.+41.6%
CG vs TPG vs BX vs KKR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CG | TPG | BX | KKR |
|---|---|---|---|---|
| Industry | Asset Management | Asset Management | Asset Management | Asset Management |
| Market Cap | $18.35B | $17.26B | $97.70B | $89.86B |
| Revenue (TTM) | $4.90B | $4.67B | $13.83B | $19.26B |
| Net Income (TTM) | $809M | $18M | $3.02B | $2.37B |
| Gross Margin | 65.9% | 96.9% | 86.0% | 41.8% |
| Operating Margin | 26.2% | 14.7% | 51.9% | 2.4% |
| Forward P/E | 11.8x | 16.3x | 20.9x | 16.5x |
| Total Debt | $13.89B | $1.72B | $13.31B | $54.77B |
| Cash & Equiv. | $3.21B | $826M | $2.63B | $6M |
CG vs TPG vs BX vs KKR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CG
TPG
BX
KKR
| Stock | Jan 22 | May 26 | Return |
|---|---|---|---|
| The Carlyle Group I… (CG) | 100 | 99.5 | -0.5% |
| TPG Inc. (TPG) | 100 | 134.1 | +34.1% |
| Blackstone Inc. (BX) | 100 | 94.5 | -5.5% |
| KKR & Co. Inc. (KKR) | 100 | 141.6 | +41.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CG vs TPG vs BX vs KKR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: BX leads in 3 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. The Carlyle Group Inc. is the stronger pick specifically for valuation and capital efficiency and recent price momentum and sentiment. TPG also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
CG
The Carlyle Group Inc.
The Banking Pick
CG is the #2 pick in this set and the best alternative if bank quality is your priority.
- NIM 7.1% vs KKR's 0.0%
- Lower P/E (11.8x vs 16.3x)
- +30.6% vs KKR's -10.7%
Best for: bank quality
TPG
TPG Inc.
The Banking Pick
TPG is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 2 yrs, beta 1.61, yield 17.9%
- Rev growth 77.9%, EPS growth 17.8%
- 77.9% NII/revenue growth vs KKR's -11.0%
- 17.9% yield, 2-year raise streak, vs KKR's 0.8%
Best for: income & stability and growth exposure
BX
Blackstone Inc.
The Banking Pick
BX carries the broadest edge in this set and is the clearest fit for sleep-well-at-night and valuation efficiency.
- Lower volatility, beta 1.53, Low D/E 60.8%, current ratio 0.91x
- PEG 1.00 vs CG's 1.33
- Beta 1.53, yield 6.2%, current ratio 0.91x
- Efficiency ratio 0.3% vs TPG's 0.8% (lower = leaner)
Best for: sleep-well-at-night and valuation efficiency
KKR
KKR & Co. Inc.
The Banking Pick
KKR is the clearest fit if your priority is long-term compounding.
- 7.1% 10Y total return vs BX's 487.1%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | TPG | 77.9% NII/revenue growth vs KKR's -11.0% |
| Value | CG | Lower P/E (11.8x vs 16.3x) |
| Quality / Margins | BX | Efficiency ratio 0.3% vs TPG's 0.8% (lower = leaner) |
| Stability / Safety | BX | Beta 1.53 vs CG's 1.88, lower leverage |
| Dividends | TPG | 17.9% yield, 2-year raise streak, vs KKR's 0.8% |
| Momentum (1Y) | CG | +30.6% vs KKR's -10.7% |
| Efficiency (ROA) | BX | Efficiency ratio 0.3% vs TPG's 0.8% |
CG vs TPG vs BX vs KKR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
FY 2025
CG vs TPG vs BX vs KKR — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCGLAGGINGKKR
Who Leads Where
BX leads in 2 of 6 categories
CG leads 2 • TPG leads 0 • KKR leads 0 • 2 tied
Explore the data ↓KKRKKR & Co. Inc.
0leads
TPGTPG Inc.
0leads
BXBlackstone Inc.
2leads
CGThe Carlyle Group Inc.
2leads
6 Total Categories
CATEGORYLEADERvs BXvs TPGMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
BX2/5
Valuation MetricsMultiples, price ratios, and targets
CG3/7
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
BX5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
CG4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
BX leads this category, winning 2 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
KKR is the larger business by revenue, generating $19.3B annually — 4.1x TPG's $4.7B. BX is the more profitable business, keeping 21.8% of every revenue dollar as net income compared to TPG's 4.0%.
| Metric | CGThe Carlyle Group… | TPGTPG Inc. | BXBlackstone Inc. | KKRKKR & Co. Inc. |
|---|---|---|---|---|
| RevenueTrailing 12 months | $4.9B | $4.7B | $13.8B | $19.3B |
| EBITDAEarnings before interest/tax | $1.4B | $611M | $7.2B | $9.0B |
| Net IncomeAfter-tax profit | $809M | $18M | $3.0B | $2.4B |
| Free Cash FlowCash after capex | -$1.7B | $972M | $3.5B | $7.5B |
| Gross MarginGross profit ÷ Revenue | +65.9% | +96.9% | +86.0% | +41.8% |
| Operating MarginEBIT ÷ Revenue | +26.2% | +14.7% | +51.9% | +2.4% |
| Net MarginNet income ÷ Revenue | +16.5% | +4.0% | +21.8% | +12.3% |
| FCF MarginFCF ÷ Revenue | +27.8% | +21.5% | +12.6% | +49.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +68.4% | — | +41.3% | -1.7% |
BX leads this category, winning 2 of 5 comparable metrics.
Valuation Metrics
CG leads this category, winning 3 of 7 comparable metrics.
Valuation Metrics
At 23.3x trailing earnings, CG trades at a 46% valuation discount to KKR's 43.1x P/E. Adjusting for growth (PEG ratio), CG offers better value at 1.33x vs BX's 1.54x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | CGThe Carlyle Group… | TPGTPG Inc. | BXBlackstone Inc. | KKRKKR & Co. Inc. |
|---|---|---|---|---|
| Market CapShares × price | $18.3B | $17.3B | $97.7B | $89.9B |
| Enterprise ValueMkt cap + debt − cash | $29.0B | $18.2B | $108.4B | $144.6B |
| Trailing P/EPrice ÷ TTM EPS | 23.30x | 37.21x | 32.14x | 43.07x |
| Forward P/EPrice ÷ next-FY EPS est. | 11.83x | 16.26x | 20.89x | 16.50x |
| PEG RatioP/E ÷ EPS growth rate | 1.33x | — | 1.54x | — |
| EV / EBITDAEnterprise value multiple | 21.72x | 22.07x | 15.02x | 20.30x |
| Price / SalesMarket cap ÷ Revenue | 3.75x | 3.70x | 7.07x | 4.67x |
| Price / BookPrice ÷ Book value/share | 2.67x | 1.66x | 4.45x | 1.18x |
| Price / FCFMarket cap ÷ FCF | 13.46x | 17.20x | 55.99x | 9.44x |
CG leads this category, winning 3 of 7 comparable metrics.
Profitability & Efficiency
BX leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
BX delivers a 14.3% return on equity — every $100 of shareholder capital generates $14 in annual profit, vs $0 for TPG. TPG carries lower financial leverage with a 0.42x debt-to-equity ratio, signaling a more conservative balance sheet compared to CG's 1.97x. On the Piotroski fundamental quality scale (0–9), TPG scores 8/9 vs CG's 4/9, reflecting strong financial health.
| Metric | CGThe Carlyle Group… | TPGTPG Inc. | BXBlackstone Inc. | KKRKKR & Co. Inc. |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +12.0% | +0.4% | +14.3% | +3.2% |
| ROA (TTM)Return on assets | +3.1% | +0.1% | +6.5% | +0.6% |
| ROICReturn on invested capital | +5.2% | +9.3% | +16.1% | +0.3% |
| ROCEReturn on capital employed | +5.0% | +7.4% | +16.9% | +0.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 8 | 5 | 6 |
| Debt / EquityFinancial leverage | 1.97x | 0.42x | 0.61x | 0.67x |
| Net DebtTotal debt minus cash | $10.7B | $896M | $10.7B | $54.8B |
| Cash & Equiv.Liquid assets | $3.2B | $826M | $2.6B | $6M |
| Total DebtShort + long-term debt | $13.9B | $1.7B | $13.3B | $54.8B |
| Interest CoverageEBIT ÷ Interest expense | 2.05x | 6.24x | 14.12x | 3.29x |
BX leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
CG leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in KKR five years ago would be worth $18,046 today (with dividends reinvested), compared to $12,787 for CG. Over the past 12 months, CG leads with a +30.6% total return vs KKR's -10.7%. The 3-year compound annual growth rate (CAGR) favors CG at 28.2% vs BX's 19.1% — a key indicator of consistent wealth creation.
| Metric | CGThe Carlyle Group… | TPGTPG Inc. | BXBlackstone Inc. | KKRKKR & Co. Inc. |
|---|---|---|---|---|
| YTD ReturnYear-to-date | -16.0% | -30.6% | -19.8% | -21.7% |
| 1-Year ReturnPast 12 months | +30.6% | +1.9% | -3.2% | -10.7% |
| 3-Year ReturnCumulative with dividends | +110.6% | +84.0% | +68.9% | +108.7% |
| 5-Year ReturnCumulative with dividends | +27.9% | +52.2% | +64.8% | +80.5% |
| 10-Year ReturnCumulative with dividends | +292.7% | +52.2% | +487.1% | +711.5% |
| CAGR (3Y)Annualised 3-year return | +28.2% | +22.5% | +19.1% | +27.8% |
CG leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — CG and BX each lead in 1 of 2 comparable metrics.
Risk & Volatility
BX is the less volatile stock with a 1.53 beta — it tends to amplify market swings less than CG's 1.88 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CG currently trades 72.7% from its 52-week high vs TPG's 64.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CGThe Carlyle Group… | TPGTPG Inc. | BXBlackstone Inc. | KKRKKR & Co. Inc. |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.88x | 1.61x | 1.53x | 1.70x |
| 52-Week HighHighest price in past year | $69.85 | $70.38 | $190.09 | $153.87 |
| 52-Week LowLowest price in past year | $39.48 | $36.95 | $101.73 | $82.67 |
| % of 52W HighCurrent price vs 52-week peak | +72.7% | +64.0% | +65.6% | +65.5% |
| RSI (14)Momentum oscillator 0–100 | 57.4 | 61.7 | 51.8 | 55.3 |
| Avg Volume (50D)Average daily shares traded | 3.1M | 3.3M | 7.2M | 6.6M |
Evenly matched — CG and BX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — TPG and KKR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: CG as "Buy", TPG as "Buy", BX as "Buy", KKR as "Buy". Consensus price targets imply 44.4% upside for TPG (target: $65) vs 25.3% for BX (target: $156). For income investors, TPG offers the higher dividend yield at 17.87% vs KKR's 0.80%.
| Metric | CGThe Carlyle Group… | TPGTPG Inc. | BXBlackstone Inc. | KKRKKR & Co. Inc. |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $67.33 | $65.00 | $156.29 | $143.00 |
| # AnalystsCovering analysts | 25 | 17 | 29 | 26 |
| Dividend YieldAnnual dividend ÷ price | +2.7% | +17.9% | +6.2% | +0.8% |
| Dividend StreakConsecutive years of raises | 0 | 2 | 2 | 6 |
| Dividend / ShareAnnual DPS | $1.36 | $8.04 | $7.70 | $0.80 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.7% | 0.0% | +0.3% | +0.1% |
Evenly matched — TPG and KKR each lead in 1 of 2 comparable metrics.
Key Takeaway
BX leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). CG leads in 2 (Valuation Metrics, Total Returns). 2 tied.
Best OverallThe Carlyle Group Inc. (CG)Leads 2 of 6 categories
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CG vs TPG vs BX vs KKR: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is CG or TPG or BX or KKR a better buy right now?
For growth investors, TPG Inc.
(TPG) is the stronger pick with 77. 9% revenue growth year-over-year, versus -11. 0% for KKR & Co. Inc. (KKR). The Carlyle Group Inc. (CG) offers the better valuation at 23. 3x trailing P/E (11. 8x forward), making it the more compelling value choice. Analysts rate The Carlyle Group Inc. (CG) a "Buy" — based on 25 analyst ratings — the highest consensus in this comparison. 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 — CG or TPG or BX or KKR?
On trailing P/E, The Carlyle Group Inc.
(CG) is the cheapest at 23. 3x versus KKR & Co. Inc. at 43. 1x. On forward P/E, The Carlyle Group Inc. is actually cheaper at 11. 8x.
03Which is the better long-term investment — CG or TPG or BX or KKR?
Over the past 5 years, KKR & Co.
Inc. (KKR) delivered a total return of +80. 5%, compared to +27. 9% for The Carlyle Group Inc. (CG). Over 10 years, the gap is even starker: KKR returned +711. 5% versus TPG's +52. 2%. 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 — CG or TPG or BX or KKR?
By beta (market sensitivity over 5 years), Blackstone Inc.
(BX) is the lower-risk stock at 1. 53β versus The Carlyle Group Inc. 's 1. 88β — meaning CG is approximately 23% more volatile than BX relative to the S&P 500. On balance sheet safety, TPG Inc. (TPG) carries a lower debt/equity ratio of 42% versus 197% for The Carlyle Group Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — CG or TPG or BX or KKR?
By revenue growth (latest reported year), TPG Inc.
(TPG) is pulling ahead at 77. 9% versus -11. 0% for KKR & Co. Inc. (KKR). On earnings-per-share growth, the picture is similar: TPG Inc. grew EPS 1779% year-over-year, compared to -28. 7% for KKR & Co. Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CG or TPG or BX or KKR?
Blackstone Inc.
(BX) is the more profitable company, earning 21. 8% net margin versus 4. 0% for TPG Inc. — meaning it keeps 21. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BX leads at 51. 9% versus 2. 4% for KKR. At the gross margin level — before operating expenses — TPG leads at 96. 9%, 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.
07Is CG or TPG or BX or KKR more undervalued right now?
On forward earnings alone, The Carlyle Group Inc.
(CG) trades at 11. 8x forward P/E versus 20. 9x for Blackstone Inc. — 9. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TPG: 44. 4% to $65. 00.
08Which pays a better dividend — CG or TPG or BX or KKR?
All stocks in this comparison pay dividends.
TPG Inc. (TPG) offers the highest yield at 17. 9%, versus 0. 8% for KKR & Co. Inc. (KKR).
09Is CG or TPG or BX or KKR better for a retirement portfolio?
For long-horizon retirement investors, Blackstone Inc.
(BX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (6. 2% yield, +487. 1% 10Y return). The Carlyle Group Inc. (CG) carries a higher beta of 1. 88 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BX: +487. 1%, CG: +292. 7%), 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.
10What are the main differences between CG and TPG and BX and KKR?
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: CG is a mid-cap high-growth stock; TPG is a mid-cap high-growth stock; BX is a mid-cap high-growth stock; KKR is a mid-cap quality compounder 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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Revenue Growth>
%
(CG: 19.8% · TPG: 77.9%)Net Margin>
%
(CG: 16.5% · TPG: 4.0%)P/E Ratio<
x
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