Carlyle Secured Lending, Inc. (CGBD) Financial Ratios
12 years of historical data (2013–2024) · Financial Services · Asset Management
EV/EBITDA
↓
19.67
↓-64% vs avg
5yr avg: 55.38
30Y Low11.4·High41.9
P/FCF
↑
8.31
+8% vs avg
5yr avg: 7.71
30Y Low1.9·High26.9
P/B Ratio
↑
0.74
↓-17% vs avg
5yr avg: 0.89
30Y Low0.4·High1.1
ROE
↑
9.8%
↓+4% vs avg
5yr avg: 9.4%
30Y Low-1%·High17%
Debt/EBITDA
↓
10.55
↓-69% vs avg
5yr avg: 34.52
30Y Low6.5·High27.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CGBD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Carlyle Secured Lending, Inc. trades at 7.5x earnings, 77% below its 5-year average of 32.5x, sitting at the 13th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 44%. On a free-cash-flow basis, the stock trades at 8.3x P/FCF, 8% above the 5-year average of 7.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $866M | $1.0B | $842M | $823M | $817M | $579M | $805M | $775M | $1.1B | — | — |
| Enterprise Value | $1.8B | $2.0B | $1.8B | $1.9B | $1.8B | $1.5B | $1.9B | $1.6B | $1.9B | — | — |
| P/E Ratio → | 7.52 | 11.35 | 9.12 | 9.60 | 5.10 | 127.14 | 13.12 | 19.68 | 12.60 | — | — |
| P/S Ratio | 5.16 | 6.04 | 4.88 | 5.93 | 4.11 | 10.94 | 6.67 | 9.06 | 9.59 | — | — |
| P/B Ratio | 0.74 | 1.12 | 0.92 | 0.90 | 0.86 | 0.64 | 0.84 | 0.40 | 0.55 | — | — |
| P/FCF | 8.31 | 9.71 | 3.65 | 11.51 | 11.78 | 1.90 | — | 26.93 | — | — | — |
| P/OCF | 8.31 | 9.71 | 3.65 | 11.51 | 11.78 | 1.90 | — | 26.93 | — | — | — |
P/E links to full P/E history page with 30-year chart
CGBD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Carlyle Secured Lending, Inc.'s enterprise value stands at 19.7x EBITDA, 64% below its 5-year average of 55.4x. The Financial Services sector median is 11.4x, placing the stock at a 72% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.63 | 10.20 | 13.59 | 9.25 | 28.54 | 16.12 | 19.27 | 16.84 | — | — |
| EV / EBITDA | 19.67 | 21.27 | 18.60 | 21.54 | 11.41 | 204.08 | 31.53 | 41.91 | 22.07 | — | — |
| EV / EBIT | 19.67 | 21.27 | 18.60 | 21.54 | 11.41 | 204.08 | 31.53 | 41.91 | 22.07 | — | — |
| EV / FCF | — | 18.71 | 7.64 | 26.36 | 26.50 | 4.95 | — | 57.26 | — | — | — |
CGBD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Carlyle Secured Lending, Inc. earns an operating margin of 54.7%, significantly above the Financial Services sector average of 21.2%. Operating margins have compressed from 63.1% to 54.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 9.8% is modest. ROIC of 3.7% represents below-average returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.2% | 59.2% | 58.5% | 68.3% | 84.5% | 32.3% | 58.1% | 55.8% | 77.9% | 81.2% | 68.2% |
| Operating Margin | 54.7% | 54.7% | 54.8% | 63.1% | 81.1% | 14.0% | 51.1% | 46.0% | 76.3% | 79.7% | 62.0% |
| Net Profit Margin | 53.0% | 53.0% | 53.4% | 61.8% | 80.7% | 12.9% | 50.8% | 45.7% | 76.1% | 79.6% | 62.0% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.8% | 9.8% | 10.1% | 9.2% | 17.3% | 0.7% | 4.2% | 2.0% | 5.0% | 7.0% | 4.1% |
| ROA | 4.6% | 4.6% | 4.6% | 4.2% | 8.1% | 0.3% | 2.9% | 1.9% | 4.8% | 5.4% | 2.0% |
| ROIC | 3.7% | 3.7% | 3.7% | 3.3% | 6.2% | 0.3% | 1.8% | 1.0% | 2.6% | 3.3% | 1.6% |
| ROCE | 4.8% | 4.8% | 4.8% | 4.4% | 8.2% | 0.4% | 2.9% | 2.0% | 4.9% | 5.5% | 2.1% |
CGBD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Carlyle Secured Lending, Inc. carries a Debt/EBITDA ratio of 10.6x, which is highly leveraged (155% above the sector average of 4.1x). Net debt stands at $938M ($968M total debt minus $30M cash). Interest coverage of just 1.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.07 | 1.07 | 1.07 | 1.17 | 1.10 | 1.09 | 1.23 | 0.50 | 0.43 | 0.49 | 0.89 |
| Debt / EBITDA | 10.55 | 10.55 | 10.35 | 12.32 | 6.48 | 132.93 | 19.08 | 24.42 | 9.87 | 9.91 | 27.17 |
| Net Debt / Equity | — | 1.04 | 1.01 | 1.16 | 1.08 | 1.03 | 1.19 | 0.45 | 0.42 | 0.46 | 0.81 |
| Net Debt / EBITDA | 10.23 | 10.23 | 9.71 | 12.13 | 6.34 | 125.87 | 18.48 | 22.20 | 9.49 | 9.36 | 24.93 |
| Debt / FCF | — | 9.00 | 3.99 | 14.85 | 14.72 | 3.05 | — | 30.33 | — | — | — |
| Interest Coverage | 1.34 | 1.34 | 1.32 | 1.99 | 5.24 | 0.21 | 1.22 | 1.04 | 3.45 | 4.25 | 1.95 |
CGBD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Carlyle Secured Lending, Inc.'s current ratio of 2.67x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.61x to 2.67x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.67 | 2.67 | 2.18 | 1.61 | 4.84 | 3.33 | 1.55 | 0.48 | 0.40 | 1.08 | 0.25 |
| Quick Ratio | 2.67 | 2.67 | 2.18 | 1.61 | 4.84 | 3.33 | 1.55 | 0.48 | 0.40 | 1.08 | 0.25 |
| Cash Ratio | 0.84 | 0.84 | 1.29 | 0.55 | 0.98 | 2.26 | 0.95 | 1.94 | 0.71 | 1.63 | 2.01 |
| Asset Turnover | — | 0.09 | 0.09 | 0.07 | 0.10 | 0.03 | 0.06 | 0.04 | 0.05 | 0.06 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CGBD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Carlyle Secured Lending, Inc. returns 0.2% to shareholders annually primarily through dividends. The payout ratio of 1.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 13.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.1% | 11.0% | 10.6% | 10.2% | 16.7% | 13.3% | 12.0% | 7.2% | — | — |
| Payout Ratio | 1.4% | 1.4% | 100.8% | — | — | 1413.8% | 174.6% | 238.5% | 90.3% | 87.7% | 190.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.3% | 8.8% | 11.0% | 10.4% | 19.6% | 0.8% | 7.6% | 5.1% | 7.9% | — | — |
| FCF Yield | 12.0% | 10.3% | 27.4% | 8.7% | 8.5% | 52.7% | — | 3.7% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.5% | 3.5% | 3.5% | 4.7% | 8.0% | 0.6% | 0.0% | — | — |
| Total Shareholder Yield | 0.2% | 0.1% | 11.5% | 14.0% | 13.7% | 21.4% | 21.3% | 12.7% | 7.2% | — | — |
| Shares Outstanding | — | $56M | $56M | $57M | $60M | $56M | $60M | $63M | $53M | $34M | $33M |
Peer Comparison
Compare CGBD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CGBDYou | $866M | 7.5 | 19.7 | 8.3 | 59.2% | 54.7% | 9.8% | 3.7% | 10.6 |
 ARCC | $14B | 10.3 | 13.2 | 12.0 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 GBDC | $3B | 9.4 | 12.1 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 TPVG | $226M | 4.6 | 8.9 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 MFIC | $1B | 17.8 | 15.8 | 11.0 | 83.4% | 71.6% | 4.7% | 4.6% | 10.5 |
 OCSL | $1B | 32.1 | 16.6 | 7.7 | 87.2% | 50.4% | 2.3% | 3.7% | 9.8 |
 TRIN | $1B | 8.8 | 11.5 | — | 100.0% | 93.1% | 14.1% | 7.9% | 6.1 |
 FSK | $3B | 290.6 | 14.1 | 5.4 | 69.6% | 49.5% | 0.2% | 3.2% | 10.1 |
 PSEC | $1B | -2.1 | — | 7.4 | 147.0% | 169.8% | -14.0% | -6.3% | — |
 SLRC | $761M | 8.2 | 11.6 | — | 73.3% | 72.9% | 9.3% | 5.8% | 7.0 |
 PFLT | $914M | 12.8 | 38.0 | 9.6 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 12 years · Updated daily
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Start ComparisonCGBD — Frequently Asked Questions
Quick answers to the most common questions about buying CGBD stock.
What is Carlyle Secured Lending, Inc.'s P/E ratio?
Carlyle Secured Lending, Inc.'s current P/E ratio is 7.5x. The historical average is 26.0x. This places it at the 13th percentile of its historical range.
What is Carlyle Secured Lending, Inc.'s EV/EBITDA?
Carlyle Secured Lending, Inc.'s current EV/EBITDA is 19.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.0x.
What is Carlyle Secured Lending, Inc.'s ROE?
Carlyle Secured Lending, Inc.'s return on equity (ROE) is 9.8%. The historical average is 5.9%.
Is CGBD stock overvalued?
Based on historical data, Carlyle Secured Lending, Inc. is trading at a P/E of 7.5x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Carlyle Secured Lending, Inc.'s dividend yield?
Carlyle Secured Lending, Inc.'s current dividend yield is 0.19% with a payout ratio of 1.4%.
What are Carlyle Secured Lending, Inc.'s profit margins?
Carlyle Secured Lending, Inc. has 59.2% gross margin and 54.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Carlyle Secured Lending, Inc. have?
Carlyle Secured Lending, Inc.'s Debt/EBITDA ratio is 10.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.