vs
Side-by-side financial comparison of Carlyle Group Inc. (CG) and Dream Finders Homes, Inc. (DFH). Click either name above to swap in a different company.
Carlyle Group Inc. is the larger business by last-quarter revenue ($1.9B vs $1.2B, roughly 1.6× Dream Finders Homes, Inc.). Carlyle Group Inc. runs the higher net margin — 18.8% vs 4.8%, a 14.0% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs -22.3%). Dream Finders Homes, Inc. produced more free cash flow last quarter ($136.0M vs $-1.2B). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs 21.0%).
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.
Dream Finders Homes, Inc. is a U.S. homebuilding firm that constructs and sells entry-level to luxury residential properties, including single-family homes and townhomes, across high-growth domestic markets. It also provides mortgage, title insurance and home warranty services for homebuyers.
CG vs DFH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.2B |
| Net Profit | $358.1M | $58.8M |
| Gross Margin | — | — |
| Operating Margin | 24.3% | 6.4% |
| Net Margin | 18.8% | 4.8% |
| Revenue YoY | 84.1% | -22.3% |
| Net Profit YoY | 69.8% | -54.9% |
| EPS (diluted) | $0.96 | $0.57 |
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 | $1.2B | ||
| Q3 25 | $332.7M | $969.8M | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $973.1M | $989.9M | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $2.6B | $1.0B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $688.4M | $827.8M |
| Q4 25 | $358.1M | $58.8M | ||
| Q3 25 | $900.0K | $47.0M | ||
| Q2 25 | $319.7M | $56.6M | ||
| Q1 25 | $130.0M | $54.9M | ||
| Q4 24 | $210.9M | $130.5M | ||
| Q3 24 | $595.7M | $70.7M | ||
| Q2 24 | $148.2M | $80.9M | ||
| Q1 24 | $65.6M | $54.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 19.2% | ||
| Q1 24 | — | 18.0% |
| Q4 25 | 24.3% | 6.4% | ||
| Q3 25 | 25.8% | 6.3% | ||
| Q2 25 | 28.0% | 6.4% | ||
| Q1 25 | 17.6% | 7.2% | ||
| Q4 24 | 25.7% | 10.8% | ||
| Q3 24 | 29.9% | 9.2% | ||
| Q2 24 | 20.5% | 10.0% | ||
| Q1 24 | 17.5% | 8.6% |
| Q4 25 | 18.8% | 4.8% | ||
| Q3 25 | 0.3% | 4.8% | ||
| Q2 25 | 20.3% | 4.9% | ||
| Q1 25 | 13.4% | 5.5% | ||
| Q4 24 | 20.4% | 8.4% | ||
| Q3 24 | 22.6% | 7.0% | ||
| Q2 24 | 13.9% | 7.7% | ||
| Q1 24 | 9.5% | 6.6% |
| Q4 25 | $0.96 | $0.57 | ||
| Q3 25 | $0.00 | $0.47 | ||
| Q2 25 | $0.87 | $0.56 | ||
| Q1 25 | $0.35 | $0.54 | ||
| Q4 24 | $0.56 | $1.28 | ||
| Q3 24 | $1.63 | $0.70 | ||
| Q2 24 | $0.40 | $0.81 | ||
| Q1 24 | $0.18 | $0.55 |
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 | $234.8M |
| Total DebtLower is stronger | — | $1.6B |
| Stockholders' EquityBook value | $7.1B | $1.4B |
| Total Assets | $29.1B | $3.7B |
| Debt / EquityLower = less leverage | — | 1.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $234.8M | ||
| Q3 25 | $2.2B | $251.0M | ||
| Q2 25 | $1.3B | $210.3M | ||
| Q1 25 | $1.2B | $297.5M | ||
| Q4 24 | $1.3B | $274.4M | ||
| Q3 24 | $1.4B | $204.9M | ||
| Q2 24 | $914.8M | $274.8M | ||
| Q1 24 | $1.3B | $239.4M |
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $7.1B | $1.4B | ||
| Q3 25 | $6.8B | $1.4B | ||
| Q2 25 | $6.7B | $1.3B | ||
| Q1 25 | $6.4B | $1.3B | ||
| Q4 24 | $6.3B | $1.2B | ||
| Q3 24 | $6.3B | $1.1B | ||
| Q2 24 | $5.7B | $1.0B | ||
| Q1 24 | $5.7B | $968.7M |
| Q4 25 | $29.1B | $3.7B | ||
| Q3 25 | $27.1B | $3.8B | ||
| Q2 25 | $25.1B | $3.7B | ||
| Q1 25 | $24.1B | $3.5B | ||
| Q4 24 | $23.1B | $3.3B | ||
| Q3 24 | $22.7B | $3.3B | ||
| Q2 24 | $22.3B | $3.0B | ||
| Q1 24 | $20.8B | $2.7B |
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $143.6M |
| Free Cash FlowOCF − Capex | $-1.2B | $136.0M |
| FCF MarginFCF / Revenue | -65.1% | 11.2% |
| Capex IntensityCapex / Revenue | 2.2% | 0.6% |
| Cash ConversionOCF / Net Profit | -3.34× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | $-126.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2B | $143.6M | ||
| Q3 25 | $-1.6B | $-131.0M | ||
| Q2 25 | $-168.8M | $-68.5M | ||
| Q1 25 | $-352.1M | $-44.7M | ||
| Q4 24 | $-352.8M | $306.5M | ||
| Q3 24 | $791.9M | $-205.0M | ||
| Q2 24 | $-1.3B | $-110.6M | ||
| Q1 24 | $71.1M | $-247.5M |
| Q4 25 | $-1.2B | $136.0M | ||
| Q3 25 | $-1.6B | $-135.7M | ||
| Q2 25 | $-186.3M | $-78.8M | ||
| Q1 25 | $-368.8M | $-47.9M | ||
| Q4 24 | $-379.5M | $302.6M | ||
| Q3 24 | $772.8M | $-222.5M | ||
| Q2 24 | $-1.3B | $-112.4M | ||
| Q1 24 | $56.9M | $-249.6M |
| Q4 25 | -65.1% | 11.2% | ||
| Q3 25 | -475.7% | -14.0% | ||
| Q2 25 | -11.8% | -6.8% | ||
| Q1 25 | -37.9% | -4.8% | ||
| Q4 24 | -36.8% | 19.4% | ||
| Q3 24 | 29.3% | -22.1% | ||
| Q2 24 | -120.4% | -10.6% | ||
| Q1 24 | 8.3% | -30.2% |
| Q4 25 | 2.2% | 0.6% | ||
| Q3 25 | 7.0% | 0.5% | ||
| Q2 25 | 1.1% | 0.9% | ||
| Q1 25 | 1.7% | 0.3% | ||
| Q4 24 | 2.6% | 0.3% | ||
| Q3 24 | 0.7% | 1.7% | ||
| Q2 24 | 1.7% | 0.2% | ||
| Q1 24 | 2.1% | 0.3% |
| Q4 25 | -3.34× | 2.44× | ||
| Q3 25 | -1732.78× | -2.79× | ||
| Q2 25 | -0.53× | -1.21× | ||
| Q1 25 | -2.71× | -0.81× | ||
| Q4 24 | -1.67× | 2.35× | ||
| Q3 24 | 1.33× | -2.90× | ||
| Q2 24 | -8.57× | -1.37× | ||
| Q1 24 | 1.08× | -4.54× |
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% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
