The Carlyle Group Inc. (CG) Revenue History
Annual and quarterly revenue from 2009 to present
CG Revenue Over Time (2009–2025)
CG Revenue Growth History
7 of 16 years with positive growth- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- +62.4%
- FY2011 revenue growth
- -10.6%
- FY2012 revenue growth
- +130.7%
- FY2013 revenue growth
- -10.4%
- FY2014 revenue growth
- -1.5%
- FY2015 revenue growth
- -13.7%
- FY2016 revenue growth
- -42.4%
- FY2017 revenue growth
- +43.5%
- FY2018 revenue growth
- -26.0%
- FY2019 revenue growth
- +41.9%
- FY2020 revenue growth
- -26.8%
- FY2021 revenue growth
- +172.9%
- FY2022 revenue growth
- -36.9%
- FY2023 revenue growth
- -49.2%
- FY2024 revenue growth
- +119.0%
- FY2025 revenue growth
- +19.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $189.6M | — |
| Q4 2025 | $1.84B | — |
| Q3 2025 | $780.5M | — |
| Q2 2025 | $1.18B | — |
| Q1 2025 | $807.8M | — |
| Q4 2024 | $927.0M | — |
| Q3 2024 | $1.49B | — |
| Q2 2024 | $920.4M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
CG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
CG Revenue Analysis (2009–2025)
Current Revenue & Growth
As of June 21, 2026, The Carlyle Group Inc. (CG) generated trailing twelve-month (TTM) revenue of $3.99 billion, reflecting significant decline in growth of -76.5% year-over-year. The most recent quarter (Q1 2026) recorded $189.6 million in revenue, down 89.7% sequentially.
Historical Growth Trajectory
CG's 5-year compound annual growth rate (CAGR) stands at +18.1%, indicating consistent double-digit revenue growth. The 3-year CAGR of +10.0% is below the 5-year average, signalling a growth deceleration in recent years. The Carlyle Group Inc.'s highest annual revenue of $5.82 billion was recorded in 2021.
Revenue by Segment
CG's revenue is primarily driven by Fund Management Fee (57%), Performance Allocations (29%), and Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment (7%). With over half of revenue concentrated in Fund Management Fee, the company has a focused business model while developing other growth vectors.
Peer Comparison
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 | $4.0B | -76.5% | +18.1% | 26.2% | |
 BX | $13.8B | - | - | 51.9% | |
 KKR | $19.3B | - | - | 2.4% | |
 APO | $30.3B | - | - | 34.4% | |
 ARES | $6.5B | - | - | 27.2% | |
 TPG | $4.7B | - | - | 14.7% |
CG Historical Revenue Data (2009–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.90B | - | $3.23B | 65.9% | $1.28B | 26.2% |
| 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% |
| 2014 | $3.89B | - | $2.62B | 67.3% | $991.9M | 25.5% |
| 2013 | $3.95B | - | $2.98B | 75.5% | $1.44B | 36.5% |
| 2012 | $4.41B | - | $3.63B | 82.3% | $2.44B | 55.3% |
| 2011 | $1.91B | - | $1.62B | 84.6% | $1.50B | 78.3% |
Full Stock Analysis
Deep dive into CG consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
17+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
CG — Frequently Asked Questions
Quick answers to the most common questions about buying CG stock.
Is CG's revenue growth accelerating or slowing?
CG revenue is declining -76.5% year-over-year. TTM revenue fell to $4.0B, contrasting with the 5-year CAGR of +18.1%. The reversal reflects either macro headwinds or company-specific challenges.
What is CG's revenue history from 2009 to 2026?
The Carlyle Group Inc. (CG) revenue history spans 2009 to 2026. TTM revenue as of 2026 is $4.0B, growing at -76.5% YoY. The 5-year CAGR is +18.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CG's long-term revenue growth rate (CAGR)?
The Carlyle Group Inc.'s 5-year revenue CAGR of +18.1% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -76.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CG.
Why does CG's quarterly revenue fluctuate?
CG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. The Carlyle Group Inc.'s revenue data from 2009 to 2026 shows full historical quarterly detail on this page.
How is CG's revenue distributed by segment?
CG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CG's revenue compare to industry peers?
The Carlyle Group Inc. (CG) with TTM revenue of $4.0B and -76.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.