The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Cash from Operations | 34.9M | 116.5M | 441.9M | 366M | 164.2M | 221.6M | 753.1M | 0 | 114.2M | 800.9M | -24.4M | -120.8M | 300M | -186.8M | -371.7M | 489M | 707M | 595M | 50.6M | 212.1M |
| Operating CF Margin % | 13.74% | 6.13% | 132.82% | 23.27% | 16.87% | 12.07% | 41.12% | - | 16.59% | 86.47% | -2.84% | -5.25% | 27.56% | -17.81% | -15.44% | 11.02% | 43.14% | 21.99% | 2.08% | 7.23% |
| Operating CF Growth % | -78.75% | -47.43% | -41.32% | - | 43.78% | -72.33% | - | - | 568.03% | 763% | 93.44% | -124.7% | -57.57% | -131.39% | -834.59% | 130.55% | - | - | -65.48% | 213.42% |
| Net Income | -139.4M | 348.9M | 21.2M | 314.2M | 130M | 235.3M | 761M | 0 | 65.6M | -857.4M | 108.1M | 158.6M | 11.4M | 245.4M | 869.3M | 1.55B | 547M | 946M | 891M | 511.3M |
| Depreciation & Amortization | 50.5M | 49M | 48.5M | 47.7M | 46.9M | 47.1M | 85.2M | 6.5M | 45.3M | 49.1M | 44M | 44.7M | 42.8M | 40.5M | 19.4M | 12M | 14M | 26M | 13.4M | 14M |
| Stock-Based Compensation | 119.8M | -108.8M | 287.1M | 92.9M | 103.5M | 112.8M | 142.9M | 103.9M | 108.3M | 125.8M | 54.4M | 14.7M | 0 | 0 | 39.7M | 8.7M | 0 | 0 | 32.4M | -45M |
| Deferred Taxes | -45.4M | 54.2M | -67.5M | 12.9M | -29.4M | -7.1M | 145.4M | 0 | -47.1M | -224.5M | -15.1M | -70.9M | -58.2M | -55M | 110.9M | -232.9M | 0 | 481M | 260.3M | 223.6M |
| Other Non-Cash Items | 49.4M | -166.6M | 92.4M | -101.7M | -86.8M | -166.5M | -381.4M | -110.4M | -57.9M | 1.63B | -151.9M | 2.56B | 0 | -271M | -2.9B | -12.62B | -453M | -295M | -1.08B | -653M |
| Working Capital Changes | 0 | -60.2M | 60.2M | 0 | 0 | 0 | 0 | 0 | 0 | 82M | -63.9M | -267.9M | 249.8M | -192.1M | 1.49B | 11.5B | 556M | -642M | -69.1M | 161.2M |
| Change in Receivables | 0 | -16.5M | 16.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 99M | 0 | -99M | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -66.1M | 72.8M | 37.8M | 64.5M | -25.4M | 43.4M | -26.1M | 0 | 41.5M | -22.2M | -63.9M | 13.4M | 39.5M | -52.9M | -14.3M | -10M | 90M | 25M | -69.1M | 157.2M |
| Cash from Investing | -28.1M | -42M | -23.2M | -17.5M | -16.7M | -26.7M | -36.7M | 0 | -14.2M | 243.3M | -93.9M | 34.4M | -227.4M | -5.1M | -630.7M | -15M | -6M | -11M | -9.7M | -36.2M |
| Capital Expenditures | -28.1M | -42M | -23.2M | -17.5M | -16.7M | -26.7M | -36.8M | 0 | -14.2M | -30.5M | -12.9M | -15.6M | -7.6M | -5.1M | -12.3M | -14M | -10M | -17M | -9.7M | -36.2M |
| CapEx % of Revenue | 11.06% | 2.21% | 6.97% | 1.11% | 1.72% | 1.45% | 2.01% | - | 2.06% | 3.29% | 1.5% | 0.68% | 0.7% | 0.49% | 0.51% | 0.32% | 0.61% | 0.63% | 0.4% | 1.23% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20M | 69.5M | 11.51B | 11.92B | 10.83B | 0 | 0 | 0 | 0 |
| Other Investing | -30.1M | 351.8M | -70.8M | -153.5M | 135.8M | 105.5M | -58M | 0 | 106.8M | -393.7M | -39.8M | 327.8M | 175.9M | 455.5M | 61.4M | 2.71B | -2.46B | 280M | -92.7M | 312.2M |
| Cash from Financing | 36.9M | -569.1M | 544.9M | -42.8M | 42.3M | -37.7M | -43.4M | 0 | 56.7M | -35.7M | 73M | -68M | 14.5M | -60.8M | 33.1M | -89M | 9M | 12M | 71.1M | -118.5M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -126.4M | -125.9M | -126.5M | -126.3M | -126.4M | -125.2M | -251.1M | 0 | -126.7M | -142.8M | -118.4M | -118.2M | 0 | 0 | -89.5M | -1.1M | 0 | 0 | -88.7M | -351.3M |
| Share Repurchases | -204.8M | -203.7M | -202.7M | -103.6M | -176.5M | -75.8M | -328.8M | 0 | -150M | -22.9M | -100.3M | -116M | 35.7M | -24.9M | -80.4M | -77M | -59M | -25M | -10M | 0 |
| Other Financing | 163.3M | -443.2M | 671.4M | 83.5M | 168.7M | 87.5M | 207.7M | 0 | 183.4M | 107.1M | 191.4M | -324.8M | 14.5M | -60.8M | 122.6M | -159.7M | 9M | 12M | 159.8M | 232.8M |
| Net Change in Cash | -290.9M | -252.8M | 949.5M | 77.6M | -67.2M | -112.4M | 673M | 0 | -164.2M | 415.2M | -334.6M | -1M | 52.7M | 19M | -1.18B | 70M | 788M | 628M | -102.6M | -18.9M |
| Free Cash Flow | 6.8M | 74.5M | 418.7M | 348.5M | 147.5M | 194.9M | 716.3M | 0 | 100M | 770.4M | -37.3M | -136.4M | 292.4M | -191.9M | -384M | 475M | 697M | 578M | 40.9M | 175.9M |
| FCF Margin % | 2.68% | 3.92% | 125.85% | 22.16% | 15.16% | 10.61% | 39.11% | - | 14.53% | 83.18% | -4.34% | -5.93% | 26.86% | -18.29% | -15.95% | 10.71% | 42.53% | 21.36% | 1.68% | 6% |
| FCF Growth % | -95.39% | -61.78% | -41.55% | - | 47.5% | -74.7% | - | - | 368.1% | 664.81% | 90.29% | -128.72% | -58.05% | -133.2% | -1038.88% | 170.04% | - | - | -69.34% | 188.26% |
| FCF per Share | 0.02 | 0.20 | 1.11 | 0.95 | 0.40 | 0.53 | 1.96 | - | 0.28 | 2.13 | -0.10 | -0.38 | 0.80 | -0.52 | -1.06 | 1.31 | 1.91 | 1.60 | 0.11 | 0.49 |
| FCF Conversion (FCF/Net Income) | -0.26x | 0.47x | 3.93x | 1.14x | 1.26x | 1.05x | 1.26x | - | 1.74x | -1.12x | -0.19x | 0.88x | 1.06x | -0.75x | -0.42x | 0.32x | 1.29x | 0.63x | 0.06x | 0.56x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |