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CGBDCarlyle Secured Lending, Inc.
$10.95$761M
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CGBD logoCarlyle Secured Lending, Inc.(CGBD)Earnings, Financials & Key Ratios

CGBD•NASDAQ•Banking & Credit
10.8× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutTCG BDC, Inc. is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector. The fund seeks to invest across United States of America, Luxembourg, Cayman Islands, Cyprus, and United Kingdom. It invests in companies with EBITDA between $25 million and $100 million.Show more
  • Net Interest Income$118M+14.0%
  • Total Revenue$198M+17.9%
  • Net Income$70M-21.4%
  • Return on Equity6.75%-31.0%
  • Net Interest Margin4.21%-21.3%
  • Efficiency Ratio-15.28%-439.2%
  • ROA2.97%-35.5%
  • Equity / Assets41.84%-11.0%
  • Book Value per Share16.91+5.5%

CGBD Key Insights

Carlyle Secured Lending, Inc. (CGBD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 59.3%
  • ✓Strong NIM of 4.2%
  • ✓Efficient operations: -15.3% efficiency ratio
  • ✓Well capitalized: 41.8% equity/assets
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 22.3% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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CGBD Price & Volume

Carlyle Secured Lending, Inc. (CGBD) stock price & volume — 10-year historical chart

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CGBD Growth Metrics

Carlyle Secured Lending, Inc. (CGBD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years20.72%
5 Years30.16%
3 Years12.58%
TTM-

Profit CAGR

10 Years14.12%
5 Years59.26%
3 Years-6.51%
TTM-29.92%

EPS CAGR

10 Years6.08%
5 Years65.76%
3 Years-12.16%
TTM-45.76%

Return on Capital

10 Years4.54%
5 Years5.94%
3 Years5.7%
Last Year7.42%

CGBD Recent Earnings

Carlyle Secured Lending, Inc. (CGBD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 11, 2026
Metric
Actual
Est
EPS
$0.36+2.9%
$0.35
Rev
$64M-2.6%
$66M
Q1 2026
Feb 24, 2026
Metric
Actual
Est
EPS
$0.33-13.2%
$0.38
Rev
$67M+0.4%
$67M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.38-2.6%
$0.39
Rev
$49M-27.4%
$67M
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$0.39+0.0%
$0.39
Rev
$64M-3.4%
$67M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 11, 2026
$0.36vs $0.35+2.9%
$64Mvs $66M-2.6%
Q1 2026Feb 24, 2026
$0.33vs $0.38-13.2%
$67Mvs $67M+0.4%
Q4 2025Nov 4, 2025
$0.38vs $0.39-2.6%
$49Mvs $67M-27.4%
Q3 2025Aug 5, 2025
$0.39vs $0.39+0.0%
$64Mvs $67M-3.4%
Based on last 12 quarters of dataView full earnings history →

CGBD Peer Comparison

Carlyle Secured Lending, Inc. (CGBD) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor12.95B18.039.6932.87%43.69%8.11%1.12
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.22B12.358.7042.5%26.91%5.24%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor202.99M5.004.1036.55%-19.55%-3.39%1.33
MFIC logoMFICMidCap Financial Investment CorporationDirect Competitor915.66M9.9314.6021.25%18.08%2.51%1.53
OCSL logoOCSLOaktree Specialty Lending CorporationDirect Competitor1.02B11.5929.7260.93%17.43%3.45%1.01
TRIN logoTRINTrinity Capital Inc.Direct Competitor1.17B16.838.59-2.19%55.8%14.73%1.20
FSK logoFSKFS KKR Capital Corp.Product Competitor2.88B10.27261.325.5%-91.82%-9.39%1.31
PSEC logoPSECProspect Capital CorporationProduct Competitor1.11B2.21-1.64-159.23%-38%-1.12%0.70

Compare CGBD vs Peers

Carlyle Secured Lending, Inc. (CGBD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for CGBD.

Scale Benchmark

vs BX

Larger-name benchmark to compare CGBD against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARCC, GBDC, TPVG, MFIC

CGBD Income Statement

Carlyle Secured Lending, Inc. (CGBD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income
121.27M145.34M147.63M114.1M104.03M124.86M131.81M103.1M117.5M148.09M
NII Growth %
40.68%19.85%1.58%-22.72%-8.83%20.03%5.56%-21.78%13.97%122.68%
Net Interest Margin %
6%6.97%6.75%5.93%5.12%6.12%6.79%5.35%4.21%5.79%
Interest Income
145.78M183.14M198.22M149.92M134.78M168.82M203.52M171.58M205.59M239.34M
Interest Expense
24.51M37.8M50.59M35.82M30.75M43.96M71.71M68.48M88.09M91.25M
Loan Loss Provision
00000000-30.52M-37.68M
Non-Interest Income
-35.06M-97.56M-77.44M-96.98M63.94M-30.19M-30.72M-3.82M-7.8M-22.23M
Non-Interest Income %
-31.67%-114.01%-64.12%-183.2%32.18%-21.78%-17.78%-2.28%-3.94%-10.24%
Total Revenue
110.71M▲ 0%
85.58M▼ 22.7%
120.78M▲ 41.1%
52.94M▼ 56.2%
198.72M▲ 275.4%
138.63M▼ 30.2%
172.8M▲ 24.6%
167.76M▼ 2.9%
197.79M▲ 17.9%
217.11M▲ 0%
Revenue Growth %
26.22%-22.7%41.13%-56.17%275.38%-30.24%24.64%-2.92%17.9%166%
Non-Interest Expense
1.74M8.43M8.45M9.71M6.83M7.21M6.37M7.56M-30.23M65.85M
Efficiency Ratio
1.57%9.85%7%18.35%3.44%5.2%3.69%4.51%-15.28%30.33%
Operating Income
84.46M▲ 0%
39.34M▼ 53.4%
61.73M▲ 56.9%
7.4M▼ 88.0%
161.13M▲ 2076.9%
87.47M▼ 45.7%
94.72M▲ 8.3%
91.72M▼ 3.2%
170.46M▲ 85.9%
97.69M▲ 0%
Operating Margin %
76.29%45.98%51.11%13.98%81.09%63.09%54.81%54.67%86.18%44.99%
Operating Income Growth %
20.86%-53.42%56.9%-88.01%2076.91%-45.72%8.29%-3.17%85.85%-
Pretax Income
84.46M▲ 0%
39.34M▼ 53.4%
61.73M▲ 56.9%
7.4M▼ 88.0%
161.13M▲ 2076.9%
87.47M▼ 45.7%
94.72M▲ 8.3%
91.72M▼ 3.2%
71.88M▼ 21.6%
53.37M▲ 0%
Pretax Margin %
76.29%45.98%51.11%13.98%81.09%63.09%54.81%54.67%36.34%24.58%
Income Tax
264K230K404K573K782K1.83M2.44M2.74M1.91M1.67M
Effective Tax Rate %
0.31%0.58%0.65%7.74%0.49%2.09%2.57%2.99%2.65%3.13%
Net Income
84.2M▲ 0%
39.12M▼ 53.5%
61.33M▲ 56.8%
6.83M▼ 88.9%
160.35M▲ 2248.1%
85.64M▼ 46.6%
92.28M▲ 7.8%
88.98M▼ 3.6%
69.97M▼ 21.4%
51.7M▲ 0%
Net Margin %
76.05%45.71%50.78%12.9%80.69%61.77%53.4%53.04%35.38%23.81%
Net Income Growth %
20.61%-53.55%56.79%-88.87%2248.12%-46.59%7.76%-3.58%-21.36%-29.92%
Net Income (Continuing)
84.2M39.12M61.33M6.83M160.35M85.64M92.28M88.98M69.97M51.7M
EPS (Diluted)
1.59▲ 0%
0.63▼ 60.4%
1.02▲ 61.9%
0.08▼ 92.1%
2.69▲ 3233.3%
1.49▼ 44.6%
1.64▲ 10.1%
1.58▼ 3.7%
1.01▼ 36.1%
0.73▲ 0%
EPS Growth %
-21.67%-60.38%61.9%-92.09%3233.33%-44.61%10.07%-3.66%-36.08%-45.76%
EPS (Basic)
1.590.631.020.082.891.581.751.681.02-
Diluted Shares Outstanding
53M62.53M60.19M56.42M59.53M57.48M56.31M56.47M69.04M70.91M

CGBD Balance Sheet

Carlyle Secured Lending, Inc. (CGBD) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments
32.04M87.19M36.75M52.23M22.99M16.09M60.45M29.67M45.02M194.43M
Cash & Due from Banks
32.04M87.19M36.75M52.23M22.99M16.09M60.45M29.67M45.02M68.46M
Short Term Investments
0000000000
Total Investments
1.97B1.97B001.91B01.84B1.86M298K0
Investments Growth %
38.29%0.24%-100%---100%--99.9%-84%-184%
Long-Term Investments
1.97B1.97B001.91B01.84B1.86M298K2.42B
Accounts Receivables
0022.47M24M025.55M057.84M00
Goodwill & Intangibles
0000000000
Goodwill
0000000000
Intangible Assets
0000000000
PP&E (Net)
0000000000
Other Assets
-1.97B-1.97B2.13B1.85B-2.03B1.99B01.83B2.74B2.49B
Total Current Assets
18.11M21.32M59.54M77.05M113.75M47.41M102.33M93.68M45.02M68.46M
Total Non-Current Assets
2.02B2.08B2.13B1.85B1.91B1.99B1.84B1.83B2.75B2.49B
Total Assets
2.02B▲ 0%
2.08B▲ 3.1%
2.19B▲ 4.9%
1.92B▼ 12.1%
2.03B▲ 5.7%
2.04B▲ 0.5%
1.94B▼ 4.9%
1.93B▼ 0.9%
2.79B▲ 44.9%
2.56B▲ 0%
Asset Growth %
35.65%3.13%4.93%-12.11%5.66%0.51%-4.85%-0.85%44.87%124.52%
Return on Assets (ROA)
4.8%1.91%2.87%0.33%8.11%4.21%4.63%4.6%2.97%1.97%
Accounts Payable
45.3M44.87M38.52M23.14M23.5M29.48M30.91M35.11M69.36M38.09M
Total Debt
833.95M960.68M1.18B983.92M1.04B1.08B980.18M967.65M1.53B1.38B
Net Debt
801.91M873.49M1.14B931.69M1.02B1.06B919.74M937.98M1.49B1.32B
Long-Term Debt
833.95M960.68M1.18B983.92M1.04B1.08B980.18M967.65M1.53B1.38B
Short-Term Debt
0000000000
Other Liabilities
-833.95M-960.68M14.71M14.19M-1.04B17.6M018.03M5.4M2.49M
Total Current Liabilities
45.3M44.87M38.52M23.14M23.5M29.48M46.97M35.11M84.98M53.95M
Total Non-Current Liabilities
894.08M1.02B1.19B998.11M1.04B1.09B980.18M985.67M1.54B1.39B
Total Liabilities
894.08M1.02B1.23B1.02B1.08B1.12B1.03B1.02B1.62B1.44B
Total Equity
1.93B▲ 0%
1.94B▲ 0.4%
956.47M▼ 50.6%
901.36M▼ 5.8%
948.8M▲ 5.3%
917.42M▼ 3.3%
912.81M▼ 0.5%
905.2M▼ 0.8%
1.17B▲ 29.0%
1.12B▲ 0%
Equity Growth %
36.01%0.39%-50.61%-5.76%5.26%-3.31%-0.5%-0.83%28.96%84.12%
Equity / Assets (Capital Ratio)
95.44%92.9%43.72%46.88%46.71%44.93%46.99%47%41.84%43.66%
Return on Equity (ROE)
5.03%2.02%4.24%0.74%17.33%9.18%10.08%9.79%6.75%4.42%
Book Value per Share
36.4030.9715.8915.9815.9415.9616.2116.0316.9115.75
Tangible BV per Share
36.4030.9715.8915.9815.9415.9616.2116.0316.9115.75
Common Stock
622K622K578K553K532K511K508K509K718K703K
Additional Paid-in Capital
1.17B1.17B1.11B1.08B1.05B1.02B1.02B1.01B1.36B1.35B
Retained Earnings
2.52M-110.11M-151.71M-228.99M-152.52M-153.68M-151.74M-157.98M-195.69M-228.02M
Accumulated OCI
1.13B1.06B00-1.63M00000
Treasury Stock
0000000000
Preferred Stock
00050M50M50M50M50M00

CGBD Cash Flow Statement

Carlyle Secured Lending, Inc. (CGBD) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-385.65M28.8M-91.89M305.16M69.37M71.47M230.61M104.27M-204.56M46.25M
Operating CF Growth %
-22.58%107.47%-419.12%432.08%-77.27%3.02%222.67%-54.79%-296.19%-247.35%
Net Income
84.2M39.12M61.33M6.83M160.35M85.64M92.28M88.98M69.97M51.7M
Depreciation & Amortization
949K1.9M1.86M2.13M0003.49M03.79M
Deferred Taxes
0000000000
Other Non-Cash Items
-472.4M-13.26M-149.87M304.51M-90.72M-16.23M145.01M2.98M-291M-11.06M
Working Capital Changes
1.6M1.05M-5.22M-8.32M-259K2.06M-6.68M8.82M16.46M2.38M
Cash from Investing
-467.55M-65.09M-175.29M236.87M6.06M-56.96M000-184.22M
Purchase of Investments
-1.28B-953.16M-994.37M-451.93M-842.98M-635.28M-207.2M-454.31M0-401.87M
Sale/Maturity of Investments
812.58M888.07M819.08M688.8M849.04M578.32M361.58M482.65M0217.65M
Net Investment Activity
-467.55M-65.09M-175.29M236.87M6.06M-56.96M154.38M28.33M0-184.22M
Acquisitions
0000000000
Other Investing
000000-154.38M-28.33M00
Cash from Financing
379.2M26.35M41.46M-273.49M-50.78M-77.08M-200.67M-108.14M224.48M-15.67M
Dividends Paid
-76.05M-93.3M-107.1M-96.55M-83.66M-86.82M-93.02M-96M-104.04M-109.98M
Share Repurchases
0-4.87M-64.72M-27.25M-28.44M-28.46M-3.99M0-13.87M-32.38M
Stock Issued
357.43M-15K000000101K0
Net Stock Activity
357.43M-4.88M-64.72M-27.25M-28.44M-28.46M-3.99M0-13.77M-32.38M
Debt Issuance (Net)
1000K1000K1000K-1000K1000K1000K-1000K-1000K1000K0
Other Financing
-1.06M-3.4M-1.7M000-5.04M-7.98M-7.27M1.83M
Net Change in Cash
-6.45M▲ 0%
55.15M▲ 955.0%
-50.44M▼ 191.5%
31.67M▲ 162.8%
24.66M▼ 22.1%
-62.57M▼ 353.8%
29.94M▲ 147.9%
-3.87M▼ 112.9%
19.92M▲ 614.4%
-153.64M▲ 0%
Exchange Rate Effect
467.55M65.09M175.29M-236.87M000000
Cash at Beginning
38.49M32.04M87.19M36.75M68.42M93.07M30.51M60.45M56.58M76.49M
Cash at End
32.04M87.19M36.75M68.42M93.07M30.51M60.45M56.58M76.49M97.24M
Interest Paid
00000000016.24M
Income Taxes Paid
0000000000
Free Cash Flow
-385.65M▲ 0%
28.8M▲ 107.5%
-91.89M▼ 419.1%
305.16M▲ 432.1%
69.37M▼ 77.3%
71.47M▲ 3.0%
230.61M▲ 222.7%
104.27M▼ 54.8%
-204.56M▼ 296.2%
46.25M▲ 0%
FCF Growth %
-22.58%107.47%-419.12%432.08%-77.27%3.02%222.67%-54.79%-296.19%-81.98%

CGBD Banking Ratios

Carlyle Secured Lending, Inc. (CGBD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
5.03%2.02%4.24%0.74%17.33%9.18%10.08%9.79%6.75%4.42%
Return on Assets (ROA)
4.8%1.91%2.87%0.33%8.11%4.21%4.63%4.6%2.97%1.97%
Net Interest Margin
6%6.97%6.75%5.93%5.12%6.12%6.79%5.35%4.21%5.79%
Efficiency Ratio
1.57%9.85%7%18.35%3.44%5.2%3.69%4.51%-15.28%30.33%
Equity / Assets
95.44%92.9%43.72%46.88%46.71%44.93%46.99%47%41.84%43.66%
Book Value / Share
36.430.9715.8915.9815.9415.9616.2116.0316.9115.75
NII Growth
40.68%19.85%1.58%-22.72%-8.83%20.03%5.56%-21.78%13.97%29.72%
Dividend Payout
90.31%238.54%174.62%1413.84%--100.81%1.45%148.69%203.07%
Related:CGBD Dividend History·CGBD Revenue History·CGBD Price History·CGBD P/E History·CGBD Financial Ratios·CGBD Institutional Holders

CGBD SEC Filings & Documents

Carlyle Secured Lending, Inc. (CGBD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 11, 2026·SEC

Material company update

Apr 15, 2026·SEC

Material company update

Feb 24, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 11, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

CGBD Frequently Asked Questions

Carlyle Secured Lending, Inc. (CGBD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Carlyle Secured Lending, Inc. (CGBD) grew revenue by 17.9% over the past year. This is strong growth.

Yes, Carlyle Secured Lending, Inc. (CGBD) is profitable, generating $51.7M in net income for fiscal year 2025 (35.4% net margin).

Dividend & Returns

Yes, Carlyle Secured Lending, Inc. (CGBD) pays a dividend with a yield of 13.76%. This makes it attractive for income-focused investors.

Carlyle Secured Lending, Inc. (CGBD) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.

Industry Metrics

Carlyle Secured Lending, Inc. (CGBD) has a net interest margin (NIM) of 4.2%. This indicates healthy earnings from lending activities.

Carlyle Secured Lending, Inc. (CGBD) has an efficiency ratio of -15.3%. This is excellent, indicating strong cost control.

What if you invested $1,000 in CGBD back in 2013?

Total return calculator · dividends reinvested · 13+ years of data

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How much would $100/month in CGBD be worth today?

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