The Carlyle Group Inc. (CG) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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CG Revenue Growth
Revenue Breakdown (FY 2024)
CG's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
CG Revenue Analysis (2013–2024)
As of May 6, 2026, The Carlyle Group Inc. (CG) generated trailing twelve-month (TTM) revenue of $3.69 billion, reflecting significant decline in growth of -47.5% year-over-year. The most recent quarter (Q3 2025) recorded $780.5 million in revenue, down 33.6% sequentially.
Looking at the longer-term picture, CG's 5-year compound annual growth rate (CAGR) stands at +7.0%, indicating steady revenue expansion. The company achieved its highest annual revenue of $5.82 billion in 2021.
Revenue diversification analysis shows CG's business is primarily driven by Fund Management Fee (50%), Performance Allocations (45%), and Principal Investment Income (Loss) (6%).
When compared to Financial Services sector peers including BX, KKR, and APO. Compare CG vs BX →
CG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CGCurrent | $3.7B | -47.5% | +7.0% | 34.1% | |
 BX | $13.8B | - | - | 51.9% | |
 KKR | $19.3B | - | - | 2.4% | |
 APO | $26.1B | - | - | 31.8% | |
 ARES | $6.5B | - | - | 27.2% | |
 TPG | $4.7B | - | - | 14.7% |
CG Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $4.09B | - | $3.40B | 83.2% | $1.39B | 34.1% |
| 2023 | $1.87B | - | $1.32B | 70.9% | $-600,900,000 | -32.2% |
| 2022 | $3.68B | - | $3.36B | 91.2% | $1.57B | 42.8% |
| 2021 | $5.82B | - | $5.53B | 95.0% | $4.03B | 69.2% |
| 2020 | $2.13B | - | $1.88B | 87.9% | $580.0M | 27.2% |
| 2019 | $2.92B | - | $2.70B | 92.7% | $1.23B | 42.3% |
| 2018 | $2.06B | - | $1.81B | 88.0% | $360.2M | 17.5% |
| 2017 | $2.78B | - | $2.31B | 83.2% | $1.13B | 40.8% |
| 2016 | $1.93B | - | $1.54B | 79.5% | $45.3M | 2.3% |
| 2015 | $3.36B | - | $2.12B | 63.0% | $402.2M | 12.0% |
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Start ComparisonCG — Frequently Asked Questions
Quick answers to the most common questions about buying CG stock.
Is CG's revenue growth accelerating or slowing?
CG revenue declined -47.5% year-over-year, contrasting with the 5-year CAGR of +7.0%. TTM revenue fell to $3.7B. This reverses the prior growth trend.
What is CG's long-term revenue growth rate?
The Carlyle Group Inc.'s 5-year revenue CAGR of +7.0% reflects the variable expansion pattern. Current YoY growth of -47.5% is below this long-term average.
How is CG's revenue distributed by segment?
CG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.