Carlyle Group (CG) FY2020 results: revenue $2.9 billion, down 13.1% on the year
Carlyle Group Inc. (CG) reported revenue of $2.9 billion for fiscal 2020, the year ended 31 December 2020, down 13.1% on the year before. Net income was $348 million, down 8.6%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$2.9 billion
-13.1% on the year
FY2013FY2020
Operating margin
20.5%
37.2% a year earlier
FY2013FY2020
Net income
$348 million
-8.6% on the year
FY2013FY2020
Diluted EPS
$0.97
-65.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,935
3,377
2,427
-13.1%
Operating income
601
1,257
356
-52.2%
Operating margin
20.5%
37.2%
14.7%
Interest expense
94.0
82.1
82.2
+14.5%
Pre-tax income
580
1,233
360
-53.0%
Income tax
197
49.0
31.3
+302.4%
Effective tax rate
34.0%
4.0%
8.7%
Net income
348
381
116
-8.6%
Net margin
11.9%
11.3%
4.8%
Diluted EPS
$0.97
$2.82
$0.82
-65.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-169
359
-344
Capital expenditure
61.2
27.8
31.3
+120.1%
Free cash flow
-230
331
-375
Free cash flow margin
-7.9%
9.8%
-15.4%
Cash from investing
-61.2
-27.8
-99.1
Cash from financing
370
-149
72.0
Depreciation and amortisation
52.1
65.6
46.9
-20.6%
Share-based compensation
105
140
240
-25.0%
Buybacks
26.4
34.5
108
-23.5%
Dividends paid
351
155
130
+126.8%
Diluted shares, weighted
358m
123m
113m
+192.2%
Shares outstanding at period end
354m
118m
108m
+200.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,930
2,970
2,836
-1.3%
Debt
1,971
1,976
1,550
-0.3%
Other liabilities
10,744
8,863
8,528
+21.2%
Total liabilities and equity
15,645
13,809
12,914
+13.3%
Fixed assets
149
108
95.1
+37.9%
Goodwill
16.8
16.1
15.3
+4.3%
Intangible assets
31.9
46.2
62.0
-31.0%
Cash and equivalents
988
793
630
+24.5%
Other assets
14,459
12,845
12,112
+12.6%
Total assets
15,645
13,809
12,914
+13.3%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.