CGABL
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061
Financial - Credit Services
Market Cap$6.07B
5Y Perf.-30.2%
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Stock Comparison
CGABL vs TPG vs KKR vs APO
Revenue, margins, valuation, and 5-year total return — side by side.
TPG
TPG Inc.
Asset Management
Market Cap$17.05B
5Y Perf.+32.5%
KKR
KKR & Co. Inc.
Asset Management
Market Cap$89.45B
5Y Perf.+41.0%
APO
Apollo Global Management, Inc.
Asset Management - Global
Market Cap$73.67B
5Y Perf.+82.6%
CGABL vs TPG vs KKR vs APO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CGABL | TPG | KKR | APO |
|---|---|---|---|---|
| Industry | Financial - Credit Services | Asset Management | Asset Management | Asset Management - Global |
| Market Cap | $6.07B | $17.05B | $89.45B | $73.67B |
| Revenue (TTM) | $5.43B | $4.67B | $19.26B | $30.30B |
| Net Income (TTM) | $773M | $18M | $2.37B | $4.48B |
| Gross Margin | 50.1% | 96.9% | 41.8% | 88.5% |
| Operating Margin | 25.2% | 14.7% | 2.4% | 34.4% |
| Forward P/E | 6.1x | 16.1x | 16.4x | 14.4x |
| Total Debt | $0.00 | $1.72B | $54.77B | $13.36B |
| Cash & Equiv. | $1.27B | $826M | $6M | $19.24B |
CGABL vs TPG vs KKR vs APO — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CGABL
TPG
KKR
APO
| Stock | Jan 22 | May 26 | Return |
|---|---|---|---|
| The Carlyle Group I… (CGABL) | 100 | 69.8 | -30.2% |
| TPG Inc. (TPG) | 100 | 132.5 | +32.5% |
| KKR & Co. Inc. (KKR) | 100 | 141.0 | +41.0% |
| Apollo Global Manag… (APO) | 100 | 182.6 | +82.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CGABL vs TPG vs KKR vs APO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CGABL leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. TPG Inc. is the stronger pick specifically for dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
CGABL
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061
The Banking Pick
CGABL carries the broadest edge in this set and is the clearest fit for growth exposure and defensive.
- Rev growth 83.1%, EPS growth 264.9%
- Beta 0.71, yield 8.1%, current ratio 14.94x
- 83.1% NII/revenue growth vs KKR's -11.0%
- Lower P/E (6.1x vs 14.4x)
Best for: growth exposure and defensive
TPG
TPG Inc.
The Banking Pick
TPG is the #2 pick in this set and the best alternative if income & stability and bank quality is your priority.
- Dividend streak 2 yrs, beta 1.61, yield 18.1%
- NIM 0.7% vs KKR's 0.0%
- 18.1% yield, 2-year raise streak, vs KKR's 0.8%
Best for: income & stability and bank quality
KKR
KKR & Co. Inc.
The Financial Play
KKR plays a supporting role in this comparison — it may shine differently against other peers.
Best for: financial services exposure
APO
Apollo Global Management, Inc.
The Banking Pick
APO is the clearest fit if your priority is long-term compounding and sleep-well-at-night.
- 7.6% 10Y total return vs KKR's 7.2%
- Lower volatility, beta 1.43, Low D/E 31.4%, current ratio 0.78x
Best for: long-term compounding and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CGABL | 83.1% NII/revenue growth vs KKR's -11.0% |
| Value | CGABL | Lower P/E (6.1x vs 14.4x) |
| Quality / Margins | CGABL | Efficiency ratio 0.2% vs TPG's 0.8% (lower = leaner) |
| Stability / Safety | CGABL | Beta 0.71 vs KKR's 1.70 |
| Dividends | TPG | 18.1% yield, 2-year raise streak, vs KKR's 0.8% |
| Momentum (1Y) | CGABL | +4.6% vs KKR's -13.0% |
| Efficiency (ROA) | CGABL | Efficiency ratio 0.2% vs TPG's 0.8% |
CGABL vs TPG vs KKR vs APO — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
FY 2025
FY 2025
CGABL vs TPG vs KKR vs APO — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLAPOLAGGINGKKR
Who Leads Where
APO leads in 3 of 6 categories
CGABL leads 2 • TPG leads 0 • KKR leads 0 • 1 tied
Explore the data ↓KKRKKR & Co. Inc.
0leads
TPGTPG Inc.
0leads
CGABLThe Carlyle Group Inc…
2leads
APOApollo Global Managem…
3leads
6 Total Categories
CATEGORYLEADERvs CGABLvs TPGMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
APO2/5
Valuation MetricsMultiples, price ratios, and targets
CGABL5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
APO6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
APO4/6
Risk & VolatilityBeta, volatility, and downside exposure
CGABL2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
APO leads this category, winning 2 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
APO is the larger business by revenue, generating $30.3B annually — 6.5x TPG's $4.7B. CGABL is the more profitable business, keeping 18.8% of every revenue dollar as net income compared to TPG's 4.0%.
| Metric | CGABLThe Carlyle Group… | TPGTPG Inc. | KKRKKR & Co. Inc. | APOApollo Global Man… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $5.4B | $4.7B | $19.3B | $30.3B |
| EBITDAEarnings before interest/tax | $249M | $611M | $9.0B | $11.5B |
| Net IncomeAfter-tax profit | $773M | $18M | $2.4B | $4.5B |
| Free Cash FlowCash after capex | $1.1B | $972M | $7.5B | $5.4B |
| Gross MarginGross profit ÷ Revenue | +50.1% | +96.9% | +41.8% | +88.5% |
| Operating MarginEBIT ÷ Revenue | +25.2% | +14.7% | +2.4% | +34.4% |
| Net MarginNet income ÷ Revenue | +18.8% | +4.0% | +12.3% | +14.8% |
| FCF MarginFCF ÷ Revenue | +18.6% | +21.5% | +49.4% | +24.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -81.6% | — | -1.7% | +16.3% |
APO leads this category, winning 2 of 5 comparable metrics.
Valuation Metrics
CGABL leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 6.1x trailing earnings, CGABL trades at a 86% valuation discount to KKR's 42.9x P/E. On an enterprise value basis, CGABL's 3.1x EV/EBITDA is more attractive than TPG's 21.8x.
| Metric | CGABLThe Carlyle Group… | TPGTPG Inc. | KKRKKR & Co. Inc. | APOApollo Global Man… |
|---|---|---|---|---|
| Market CapShares × price | $6.1B | $17.1B | $89.4B | $73.7B |
| Enterprise ValueMkt cap + debt − cash | $4.8B | $17.9B | $144.2B | $67.8B |
| Trailing P/EPrice ÷ TTM EPS | 6.08x | 36.76x | 42.88x | 17.60x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 16.06x | 16.42x | 14.42x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | 0.23x |
| EV / EBITDAEnterprise value multiple | 3.09x | 21.81x | 20.24x | 5.92x |
| Price / SalesMarket cap ÷ Revenue | 1.12x | 3.65x | 4.64x | 2.43x |
| Price / BookPrice ÷ Book value/share | 0.87x | 1.64x | 1.17x | 1.83x |
| Price / FCFMarket cap ÷ FCF | 6.00x | 16.99x | 9.39x | 9.89x |
CGABL leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
APO leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
APO delivers a 12.1% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $0 for TPG. APO carries lower financial leverage with a 0.31x debt-to-equity ratio, signaling a more conservative balance sheet compared to KKR's 0.67x. On the Piotroski fundamental quality scale (0–9), TPG scores 8/9 vs APO's 3/9, reflecting strong financial health.
| Metric | CGABLThe Carlyle Group… | TPGTPG Inc. | KKRKKR & Co. Inc. | APOApollo Global Man… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +9.6% | +0.4% | +3.2% | +12.1% |
| ROA (TTM)Return on assets | +2.9% | +0.1% | +0.6% | +1.0% |
| ROICReturn on invested capital | +15.3% | +9.3% | +0.3% | +16.0% |
| ROCEReturn on capital employed | +6.2% | +7.4% | +0.1% | +8.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 8 | 6 | 3 |
| Debt / EquityFinancial leverage | — | 0.42x | 0.67x | 0.31x |
| Net DebtTotal debt minus cash | -$1.3B | $896M | $54.8B | -$5.9B |
| Cash & Equiv.Liquid assets | $1.3B | $826M | $6M | $19.2B |
| Total DebtShort + long-term debt | $0 | $1.7B | $54.8B | $13.4B |
| Interest CoverageEBIT ÷ Interest expense | 2.60x | 6.24x | 3.29x | 28.98x |
APO leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
APO leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in APO five years ago would be worth $23,514 today (with dividends reinvested), compared to $9,090 for CGABL. Over the past 12 months, CGABL leads with a +4.6% total return vs KKR's -13.0%. The 3-year compound annual growth rate (CAGR) favors APO at 29.2% vs CGABL's 3.5% — a key indicator of consistent wealth creation.
| Metric | CGABLThe Carlyle Group… | TPGTPG Inc. | KKRKKR & Co. Inc. | APOApollo Global Man… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +0.3% | -31.4% | -22.0% | -12.5% |
| 1-Year ReturnPast 12 months | +4.6% | +0.6% | -13.0% | +0.4% |
| 3-Year ReturnCumulative with dividends | +11.0% | +82.0% | +107.7% | +115.8% |
| 5-Year ReturnCumulative with dividends | -9.1% | +50.6% | +76.5% | +135.1% |
| 10-Year ReturnCumulative with dividends | -9.1% | +50.6% | +715.5% | +759.2% |
| CAGR (3Y)Annualised 3-year return | +3.5% | +22.1% | +27.6% | +29.2% |
APO leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
CGABL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
CGABL is the less volatile stock with a 0.71 beta — it tends to amplify market swings less than KKR's 1.70 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CGABL currently trades 89.6% from its 52-week high vs TPG's 63.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CGABLThe Carlyle Group… | TPGTPG Inc. | KKRKKR & Co. Inc. | APOApollo Global Man… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.71x | 1.61x | 1.70x | 1.43x |
| 52-Week HighHighest price in past year | $18.80 | $70.38 | $153.87 | $157.28 |
| 52-Week LowLowest price in past year | $6.86 | $36.95 | $82.67 | $99.56 |
| % of 52W HighCurrent price vs 52-week peak | +89.6% | +63.2% | +65.2% | +81.3% |
| RSI (14)Momentum oscillator 0–100 | 45.5 | 58.5 | 52.4 | 64.9 |
| Avg Volume (50D)Average daily shares traded | 31K | 3.2M | 6.5M | 5.2M |
CGABL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — TPG and KKR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: TPG as "Buy", KKR as "Buy", APO as "Buy". Consensus price targets imply 46.1% upside for TPG (target: $65) vs 23.1% for APO (target: $157). For income investors, TPG offers the higher dividend yield at 18.08% vs KKR's 0.80%.
| Metric | CGABLThe Carlyle Group… | TPGTPG Inc. | KKRKKR & Co. Inc. | APOApollo Global Man… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | — | $65.00 | $143.00 | $157.25 |
| # AnalystsCovering analysts | — | 17 | 26 | 28 |
| Dividend YieldAnnual dividend ÷ price | +8.1% | +18.1% | +0.8% | +1.7% |
| Dividend StreakConsecutive years of raises | 0 | 2 | 6 | 3 |
| Dividend / ShareAnnual DPS | $1.37 | $8.04 | $0.80 | $2.14 |
| Buyback YieldShare repurchases ÷ mkt cap | +9.1% | 0.0% | +0.1% | +1.0% |
Evenly matched — TPG and KKR each lead in 1 of 2 comparable metrics.
Key Takeaway
APO leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). CGABL leads in 2 (Valuation Metrics, Risk & Volatility). 1 tied.
Best OverallApollo Global Management, I… (APO)Leads 3 of 6 categories
Loading custom metrics...
CGABL vs TPG vs KKR vs APO: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is CGABL or TPG or KKR or APO a better buy right now?
For growth investors, The Carlyle Group Inc.
4. 625% Subordinated Notes due 2061 (CGABL) is the stronger pick with 83. 1% revenue growth year-over-year, versus -11. 0% for KKR & Co. Inc. (KKR). The Carlyle Group Inc. 4. 625% Subordinated Notes due 2061 (CGABL) offers the better valuation at 6. 1x trailing P/E, making it the more compelling value choice. Analysts rate TPG Inc. (TPG) a "Buy" — based on 17 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 — CGABL or TPG or KKR or APO?
On trailing P/E, The Carlyle Group Inc.
4. 625% Subordinated Notes due 2061 (CGABL) is the cheapest at 6. 1x versus KKR & Co. Inc. at 42. 9x. On forward P/E, Apollo Global Management, Inc. is actually cheaper at 14. 4x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — CGABL or TPG or KKR or APO?
Over the past 5 years, Apollo Global Management, Inc.
(APO) delivered a total return of +135. 1%, compared to -9. 1% for The Carlyle Group Inc. 4. 625% Subordinated Notes due 2061 (CGABL). Over 10 years, the gap is even starker: APO returned +759. 2% versus CGABL's -9. 1%. 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 — CGABL or TPG or KKR or APO?
By beta (market sensitivity over 5 years), The Carlyle Group Inc.
4. 625% Subordinated Notes due 2061 (CGABL) is the lower-risk stock at 0. 71β versus KKR & Co. Inc. 's 1. 70β — meaning KKR is approximately 140% more volatile than CGABL relative to the S&P 500. On balance sheet safety, Apollo Global Management, Inc. (APO) carries a lower debt/equity ratio of 31% versus 67% for KKR & Co. Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — CGABL or TPG or KKR or APO?
By revenue growth (latest reported year), The Carlyle Group Inc.
4. 625% Subordinated Notes due 2061 (CGABL) is pulling ahead at 83. 1% 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 — CGABL or TPG or KKR or APO?
The Carlyle Group Inc.
4. 625% Subordinated Notes due 2061 (CGABL) is the more profitable company, earning 18. 8% net margin versus 4. 0% for TPG Inc. — meaning it keeps 18. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: APO leads at 34. 4% 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 CGABL or TPG or KKR or APO more undervalued right now?
On forward earnings alone, Apollo Global Management, Inc.
(APO) trades at 14. 4x forward P/E versus 16. 4x for KKR & Co. Inc. — 2. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TPG: 46. 1% to $65. 00.
08Which pays a better dividend — CGABL or TPG or KKR or APO?
All stocks in this comparison pay dividends.
TPG Inc. (TPG) offers the highest yield at 18. 1%, versus 0. 8% for KKR & Co. Inc. (KKR).
09Is CGABL or TPG or KKR or APO 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. 71), 8. 1% yield). TPG Inc. (TPG) carries a higher beta of 1. 61 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (CGABL: -9. 1%, TPG: +50. 6%), 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 CGABL and TPG and KKR and APO?
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: CGABL is a small-cap high-growth stock; TPG is a mid-cap high-growth stock; KKR is a mid-cap quality compounder stock; APO is a mid-cap high-growth 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>
%
(CGABL: 83.1% · TPG: 77.9%)Net Margin>
%
(CGABL: 18.8% · TPG: 4.0%)P/E Ratio<
x
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