Carlyle Secured Lending, Inc. (CGBD) Financial Ratios
13 years of historical data (2013–2025) · Financial Services · Asset Management
EV/EBITDA
↑
12.79
↓-26% vs avg
5yr avg: 17.24
30Y Low11.4·High41.9
P/FCF
↓
N/A
—
5yr avg: 9.16
30Y Low1.9·High26.9
P/B Ratio
↓
0.65
↓-29% vs avg
5yr avg: 0.91
30Y Low0.4·High1.1
ROE
↓
6.8%
↑-36% vs avg
5yr avg: 10.6%
30Y Low-1%·High17%
Debt/EBITDA
↑
8.72
↓-10% vs avg
5yr avg: 9.68
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 10.8x earnings, 14% above its 5-year average of 9.5x, sitting at the 33rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 20%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $761M | $862M | $1.0B | $842M | $823M | $817M | $579M | $805M | $775M | $1.1B | — |
| Enterprise Value | $2.2B | $2.3B | $2.0B | $1.8B | $1.9B | $1.8B | $1.5B | $1.9B | $1.6B | $1.9B | — |
| P/E Ratio → | 10.84 | 12.37 | 11.35 | 9.12 | 9.60 | 5.10 | 127.14 | 13.12 | 19.68 | 12.60 | — |
| P/S Ratio | 3.85 | 4.36 | 6.04 | 4.88 | 5.93 | 4.11 | 10.94 | 6.67 | 9.06 | 9.59 | — |
| P/B Ratio | 0.65 | 0.74 | 1.12 | 0.92 | 0.90 | 0.86 | 0.64 | 0.84 | 0.40 | 0.55 | — |
| P/FCF | — | — | 9.71 | 3.65 | 11.51 | 11.78 | 1.90 | — | 26.93 | — | — |
| P/OCF | — | — | 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 12.8x EBITDA, 26% below its 5-year average of 17.2x. The Financial Services sector median is 11.4x, placing the stock at a 12% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.88 | 11.63 | 10.20 | 13.59 | 9.25 | 28.54 | 16.12 | 19.27 | 16.84 | — |
| EV / EBITDA | 12.79 | 13.37 | 21.27 | 18.60 | 21.54 | 11.41 | 204.08 | 31.53 | 41.91 | 22.07 | — |
| EV / EBIT | 13.19 | 14.69 | 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 86.2%, significantly above the Financial Services sector average of 20.3%. Operating margins have expanded from 54.8% to 86.2% over the past 3 years, signaling improving operational efficiency. ROE of 6.8% is modest, trailing the sector median of 9.0%. ROIC of 5.6% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.9% | 70.9% | 59.2% | 58.5% | 68.3% | 84.5% | 32.3% | 58.1% | 55.8% | 77.9% | 81.2% |
| Operating Margin | 86.2% | 86.2% | 54.7% | 54.8% | 63.1% | 81.1% | 14.0% | 51.1% | 46.0% | 76.3% | 79.7% |
| Net Profit Margin | 35.4% | 35.4% | 53.0% | 53.4% | 61.8% | 80.7% | 12.9% | 50.8% | 45.7% | 76.1% | 79.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 6.8% | 9.8% | 10.1% | 9.2% | 17.3% | 0.7% | 4.2% | 2.0% | 5.0% | 7.0% |
| ROA | 3.0% | 3.0% | 4.6% | 4.6% | 4.2% | 8.1% | 0.3% | 2.9% | 1.9% | 4.8% | 5.4% |
| ROIC | 5.6% | 5.6% | 3.7% | 3.7% | 3.3% | 6.2% | 0.3% | 1.8% | 1.0% | 2.6% | 3.3% |
| ROCE | 7.4% | 7.4% | 4.8% | 4.8% | 4.4% | 8.2% | 0.4% | 2.9% | 2.0% | 4.9% | 5.5% |
CGBD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Carlyle Secured Lending, Inc. carries a Debt/EBITDA ratio of 8.7x, which is highly leveraged (105% above the sector average of 4.3x). Net debt stands at $1.5B ($1.5B total debt minus $45M cash). Interest coverage of just 1.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.31 | 1.31 | 1.07 | 1.07 | 1.17 | 1.10 | 1.09 | 1.23 | 0.50 | 0.43 | 0.49 |
| Debt / EBITDA | 8.72 | 8.72 | 10.55 | 10.35 | 12.32 | 6.48 | 132.93 | 19.08 | 24.42 | 9.87 | 9.91 |
| Net Debt / Equity | — | 1.27 | 1.04 | 1.01 | 1.16 | 1.08 | 1.03 | 1.19 | 0.45 | 0.42 | 0.46 |
| Net Debt / EBITDA | 8.46 | 8.46 | 10.23 | 9.71 | 12.13 | 6.34 | 125.87 | 18.48 | 22.20 | 9.49 | 9.36 |
| Debt / FCF | — | — | 9.00 | 3.99 | 14.85 | 14.72 | 3.05 | — | 30.33 | — | — |
| Interest Coverage | 1.82 | 1.82 | 1.34 | 1.32 | 1.99 | 5.24 | 0.21 | 1.22 | 1.04 | 3.45 | 4.25 |
CGBD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.53x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 2.18x to 0.53x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.53 | 0.53 | 2.67 | 2.18 | 1.61 | 4.84 | 3.33 | 1.55 | 0.48 | 0.40 | 1.08 |
| Quick Ratio | 0.53 | 0.53 | 2.67 | 2.18 | 1.61 | 4.84 | 3.33 | 1.55 | 0.48 | 0.40 | 1.08 |
| Cash Ratio | 0.53 | 0.53 | 0.84 | 1.29 | 0.55 | 0.98 | 2.26 | 0.95 | 1.94 | 0.71 | 1.63 |
| Asset Turnover | — | 0.07 | 0.09 | 0.09 | 0.07 | 0.10 | 0.03 | 0.06 | 0.04 | 0.05 | 0.06 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CGBD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Carlyle Secured Lending, Inc. returns 15.6% to shareholders annually — split between a 13.8% dividend yield and 1.8% buyback yield. The payout ratio exceeds 100% at 148.7%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 9.2% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 13.8% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 148.7% | 148.7% | 1.4% | 100.8% | — | — | 1413.8% | 174.6% | 238.5% | 90.3% | 87.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.2% | 8.1% | 8.8% | 11.0% | 10.4% | 19.6% | 0.8% | 7.6% | 5.1% | 7.9% | — |
| FCF Yield | — | — | 10.3% | 27.4% | 8.7% | 8.5% | 52.7% | — | 3.7% | — | — |
| Buyback Yield | 1.8% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 15.6% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $69M | $56M | $56M | $57M | $60M | $56M | $60M | $63M | $53M | $34M |
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 | $761M | 10.8 | 12.8 | — | 70.9% | 86.2% | 6.8% | 5.6% | 8.7 |
 ARCC | $13B | 9.7 | 12.8 | 11.3 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 GBDC | $3B | 8.7 | 11.8 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 TPVG | $203M | 4.1 | 8.6 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 MFIC | $916M | 14.6 | 14.8 | 9.0 | 83.4% | 71.6% | 4.7% | 4.6% | 10.5 |
 OCSL | $1B | 29.7 | 16.1 | 7.2 | 87.2% | 50.4% | 2.3% | 3.7% | 9.8 |
 TRIN | $1B | 8.6 | 11.4 | — | 100.0% | 93.1% | 14.1% | 7.9% | 6.1 |
 FSK | $3B | 261.3 | 13.6 | 4.9 | 69.6% | 49.5% | 0.2% | 3.2% | 10.1 |
 PSEC | $1B | -1.6 | — | 2.1 | 147.0% | 169.8% | -14.0% | -6.3% | — |
 SLRC | $678M | 7.3 | 11.1 | — | 73.3% | 72.9% | 9.3% | 5.8% | 7.0 |
 PFLT | $742M | 10.4 | 35.5 | 7.8 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
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CGBD — 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 10.8x. The historical average is 24.5x. This places it at the 33th percentile of its historical range.
What is Carlyle Secured Lending, Inc.'s EV/EBITDA?
Carlyle Secured Lending, Inc.'s current EV/EBITDA is 12.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.7x.
What is Carlyle Secured Lending, Inc.'s ROE?
Carlyle Secured Lending, Inc.'s return on equity (ROE) is 6.8%. The historical average is 6.0%.
Is CGBD stock overvalued?
Based on historical data, Carlyle Secured Lending, Inc. is trading at a P/E of 10.8x. This is at the 33th 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 13.76% with a payout ratio of 148.7%.
What are Carlyle Secured Lending, Inc.'s profit margins?
Carlyle Secured Lending, Inc. has 70.9% gross margin and 86.2% 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 8.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.