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Side-by-side financial comparison of Carlyle Group Inc. (CG) and COHEN & STEERS, INC. (CNS). Click either name above to swap in a different company.
Carlyle Group Inc. is the larger business by last-quarter revenue ($1.9B vs $143.8M, roughly 13.2× COHEN & STEERS, INC.). COHEN & STEERS, INC. runs the higher net margin — 24.3% vs 18.8%, a 5.4% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 2.9%). COHEN & STEERS, INC. produced more free cash flow last quarter ($-126.4M vs $-1.2B). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs 8.3%).
The Carlyle Group Inc. is an American multinational company with operations in private equity, alternative asset management and financial services. As of 2023, the company had $426 billion of assets under management.
Cohen & Steers is an American investment management company. It focuses on investments in real estate securities via real estate investment trusts (REIT) and alternative income via preferred securities.
CG vs CNS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $143.8M |
| Net Profit | $358.1M | $34.9M |
| Gross Margin | — | — |
| Operating Margin | 24.3% | 28.0% |
| Net Margin | 18.8% | 24.3% |
| Revenue YoY | 84.1% | 2.9% |
| Net Profit YoY | 69.8% | -23.9% |
| EPS (diluted) | $0.96 | $0.67 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.9B | $143.8M | ||
| Q3 25 | $332.7M | $141.7M | ||
| Q2 25 | $1.6B | $136.1M | ||
| Q1 25 | $973.1M | $134.5M | ||
| Q4 24 | $1.0B | $139.8M | ||
| Q3 24 | $2.6B | $133.2M | ||
| Q2 24 | $1.1B | $121.7M | ||
| Q1 24 | $688.4M | $122.7M |
| Q4 25 | $358.1M | $34.9M | ||
| Q3 25 | $900.0K | $41.7M | ||
| Q2 25 | $319.7M | $36.8M | ||
| Q1 25 | $130.0M | $39.8M | ||
| Q4 24 | $210.9M | $45.8M | ||
| Q3 24 | $595.7M | $39.7M | ||
| Q2 24 | $148.2M | $31.8M | ||
| Q1 24 | $65.6M | $34.0M |
| Q4 25 | 24.3% | 28.0% | ||
| Q3 25 | 25.8% | 34.5% | ||
| Q2 25 | 28.0% | 31.8% | ||
| Q1 25 | 17.6% | 33.6% | ||
| Q4 24 | 25.7% | 35.3% | ||
| Q3 24 | 29.9% | 33.7% | ||
| Q2 24 | 20.5% | 31.5% | ||
| Q1 24 | 17.5% | 32.8% |
| Q4 25 | 18.8% | 24.3% | ||
| Q3 25 | 0.3% | 29.4% | ||
| Q2 25 | 20.3% | 27.1% | ||
| Q1 25 | 13.4% | 29.6% | ||
| Q4 24 | 20.4% | 32.8% | ||
| Q3 24 | 22.6% | 29.8% | ||
| Q2 24 | 13.9% | 26.1% | ||
| Q1 24 | 9.5% | 27.7% |
| Q4 25 | $0.96 | $0.67 | ||
| Q3 25 | $0.00 | $0.81 | ||
| Q2 25 | $0.87 | $0.72 | ||
| Q1 25 | $0.35 | $0.77 | ||
| Q4 24 | $0.56 | $0.89 | ||
| Q3 24 | $1.63 | $0.77 | ||
| Q2 24 | $0.40 | $0.63 | ||
| Q1 24 | $0.18 | $0.68 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.0B | $145.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.1B | $562.0M |
| Total Assets | $29.1B | $876.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $145.5M | ||
| Q3 25 | $2.2B | $98.1M | ||
| Q2 25 | $1.3B | $95.4M | ||
| Q1 25 | $1.2B | $65.2M | ||
| Q4 24 | $1.3B | $183.0M | ||
| Q3 24 | $1.4B | $106.5M | ||
| Q2 24 | $914.8M | $122.0M | ||
| Q1 24 | $1.3B | $99.5M |
| Q4 25 | $7.1B | $562.0M | ||
| Q3 25 | $6.8B | $550.3M | ||
| Q2 25 | $6.7B | $528.5M | ||
| Q1 25 | $6.4B | $507.7M | ||
| Q4 24 | $6.3B | $511.7M | ||
| Q3 24 | $6.3B | $491.0M | ||
| Q2 24 | $5.7B | $463.2M | ||
| Q1 24 | $5.7B | $378.9M |
| Q4 25 | $29.1B | $876.7M | ||
| Q3 25 | $27.1B | $801.6M | ||
| Q2 25 | $25.1B | $751.0M | ||
| Q1 25 | $24.1B | $834.9M | ||
| Q4 24 | $23.1B | $812.4M | ||
| Q3 24 | $22.7B | $727.8M | ||
| Q2 24 | $22.3B | $784.1M | ||
| Q1 24 | $20.8B | $680.7M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.2B | $-120.4M |
| Free Cash FlowOCF − Capex | $-1.2B | $-126.4M |
| FCF MarginFCF / Revenue | -65.1% | -87.9% |
| Capex IntensityCapex / Revenue | 2.2% | 4.2% |
| Cash ConversionOCF / Net Profit | -3.34× | -3.45× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | $-253.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2B | $-120.4M | ||
| Q3 25 | $-1.6B | $55.1M | ||
| Q2 25 | $-168.8M | $-67.6M | ||
| Q1 25 | $-352.1M | $-108.9M | ||
| Q4 24 | $-352.8M | $96.7M | ||
| Q3 24 | $791.9M | $25.6M | ||
| Q2 24 | $-1.3B | $31.4M | ||
| Q1 24 | $71.1M | $4.9M |
| Q4 25 | $-1.2B | $-126.4M | ||
| Q3 25 | $-1.6B | $52.6M | ||
| Q2 25 | $-186.3M | $-69.8M | ||
| Q1 25 | $-368.8M | $-110.0M | ||
| Q4 24 | $-379.5M | $85.0M | ||
| Q3 24 | $772.8M | $24.2M | ||
| Q2 24 | $-1.3B | $27.1M | ||
| Q1 24 | $56.9M | $537.0K |
| Q4 25 | -65.1% | -87.9% | ||
| Q3 25 | -475.7% | 37.1% | ||
| Q2 25 | -11.8% | -51.3% | ||
| Q1 25 | -37.9% | -81.8% | ||
| Q4 24 | -36.8% | 60.8% | ||
| Q3 24 | 29.3% | 18.2% | ||
| Q2 24 | -120.4% | 22.3% | ||
| Q1 24 | 8.3% | 0.4% |
| Q4 25 | 2.2% | 4.2% | ||
| Q3 25 | 7.0% | 1.8% | ||
| Q2 25 | 1.1% | 1.6% | ||
| Q1 25 | 1.7% | 0.8% | ||
| Q4 24 | 2.6% | 8.3% | ||
| Q3 24 | 0.7% | 1.1% | ||
| Q2 24 | 1.7% | 3.5% | ||
| Q1 24 | 2.1% | 3.5% |
| Q4 25 | -3.34× | -3.45× | ||
| Q3 25 | -1732.78× | 1.32× | ||
| Q2 25 | -0.53× | -1.84× | ||
| Q1 25 | -2.71× | -2.74× | ||
| Q4 24 | -1.67× | 2.11× | ||
| Q3 24 | 1.33× | 0.65× | ||
| Q2 24 | -8.57× | 0.99× | ||
| Q1 24 | 1.08× | 0.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
CNS
Segment breakdown not available.
