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Side-by-side financial comparison of Carlyle Group Inc. (CG) and GRAPHIC PACKAGING HOLDING CO (GPK). Click either name above to swap in a different company.
GRAPHIC PACKAGING HOLDING CO is the larger business by last-quarter revenue ($2.1B vs $1.9B, roughly 1.1× Carlyle Group Inc.). Carlyle Group Inc. runs the higher net margin — 18.8% vs 3.4%, a 15.4% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 0.2%). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs -3.5%).
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.
Graphic Packaging International is a Fortune 500 corporation based in Atlanta, Georgia, United States. It designs and manufactures packaging solutions for commercial products. GPI manufactures paperboard and folding cartons for a wide range of popular consumer goods, particularly beverages and packaged food. The company operates paperboard mills in Kalamazoo, Michigan; Macon, Georgia; Middletown, Ohio; Prosperity, South Carolina; Texarkana, Texas; and West Monroe, Louisiana, that use recycled...
CG vs GPK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.1B |
| Net Profit | $358.1M | $71.0M |
| Gross Margin | — | 14.1% |
| Operating Margin | 24.3% | 7.4% |
| Net Margin | 18.8% | 3.4% |
| Revenue YoY | 84.1% | 0.2% |
| Net Profit YoY | 69.8% | -48.6% |
| EPS (diluted) | $0.96 | $0.24 |
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 | $2.1B | ||
| Q3 25 | $332.7M | $2.2B | ||
| Q2 25 | $1.6B | $2.2B | ||
| Q1 25 | $973.1M | $2.1B | ||
| Q4 24 | $1.0B | $2.1B | ||
| Q3 24 | $2.6B | $2.2B | ||
| Q2 24 | $1.1B | $2.2B | ||
| Q1 24 | $688.4M | $2.3B |
| Q4 25 | $358.1M | $71.0M | ||
| Q3 25 | $900.0K | $142.0M | ||
| Q2 25 | $319.7M | $104.0M | ||
| Q1 25 | $130.0M | $127.0M | ||
| Q4 24 | $210.9M | $138.0M | ||
| Q3 24 | $595.7M | $165.0M | ||
| Q2 24 | $148.2M | $190.0M | ||
| Q1 24 | $65.6M | $165.0M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 21.2% | ||
| Q1 24 | — | 23.0% |
| Q4 25 | 24.3% | 7.4% | ||
| Q3 25 | 25.8% | 10.7% | ||
| Q2 25 | 28.0% | 8.8% | ||
| Q1 25 | 17.6% | 10.5% | ||
| Q4 24 | 25.7% | 11.4% | ||
| Q3 24 | 29.9% | 12.6% | ||
| Q2 24 | 20.5% | 14.5% | ||
| Q1 24 | 17.5% | 12.4% |
| Q4 25 | 18.8% | 3.4% | ||
| Q3 25 | 0.3% | 6.5% | ||
| Q2 25 | 20.3% | 4.7% | ||
| Q1 25 | 13.4% | 6.0% | ||
| Q4 24 | 20.4% | 6.6% | ||
| Q3 24 | 22.6% | 7.5% | ||
| Q2 24 | 13.9% | 8.5% | ||
| Q1 24 | 9.5% | 7.3% |
| Q4 25 | $0.96 | $0.24 | ||
| Q3 25 | $0.00 | $0.48 | ||
| Q2 25 | $0.87 | $0.34 | ||
| Q1 25 | $0.35 | $0.42 | ||
| Q4 24 | $0.56 | $0.46 | ||
| Q3 24 | $1.63 | $0.55 | ||
| Q2 24 | $0.40 | $0.62 | ||
| Q1 24 | $0.18 | $0.53 |
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 | $261.0M |
| Total DebtLower is stronger | — | $5.0B |
| Stockholders' EquityBook value | $7.1B | $3.3B |
| Total Assets | $29.1B | $11.8B |
| Debt / EquityLower = less leverage | — | 1.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $261.0M | ||
| Q3 25 | $2.2B | $120.0M | ||
| Q2 25 | $1.3B | $120.0M | ||
| Q1 25 | $1.2B | $129.0M | ||
| Q4 24 | $1.3B | $157.0M | ||
| Q3 24 | $1.4B | $126.0M | ||
| Q2 24 | $914.8M | $125.0M | ||
| Q1 24 | $1.3B | $136.0M |
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $4.9B |
| Q4 25 | $7.1B | $3.3B | ||
| Q3 25 | $6.8B | $3.3B | ||
| Q2 25 | $6.7B | $3.2B | ||
| Q1 25 | $6.4B | $3.2B | ||
| Q4 24 | $6.3B | $3.0B | ||
| Q3 24 | $6.3B | $3.0B | ||
| Q2 24 | $5.7B | $2.8B | ||
| Q1 24 | $5.7B | $2.9B |
| Q4 25 | $29.1B | $11.8B | ||
| Q3 25 | $27.1B | $11.9B | ||
| Q2 25 | $25.1B | $11.8B | ||
| Q1 25 | $24.1B | $11.5B | ||
| Q4 24 | $23.1B | $11.1B | ||
| Q3 24 | $22.7B | $11.2B | ||
| Q2 24 | $22.3B | $10.8B | ||
| Q1 24 | $20.8B | $11.3B |
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 1.67× | ||
| Q2 25 | — | 1.68× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 1.71× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.73× |
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 | $521.0M |
| Free Cash FlowOCF − Capex | $-1.2B | — |
| FCF MarginFCF / Revenue | -65.1% | — |
| Capex IntensityCapex / Revenue | 2.2% | — |
| Cash ConversionOCF / Net Profit | -3.34× | 7.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2B | $521.0M | ||
| Q3 25 | $-1.6B | $227.0M | ||
| Q2 25 | $-168.8M | $267.0M | ||
| Q1 25 | $-352.1M | $-174.0M | ||
| Q4 24 | $-352.8M | $489.0M | ||
| Q3 24 | $791.9M | $187.0M | ||
| Q2 24 | $-1.3B | $161.0M | ||
| Q1 24 | $71.1M | $3.0M |
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $-1.6B | — | ||
| Q2 25 | $-186.3M | — | ||
| Q1 25 | $-368.8M | — | ||
| Q4 24 | $-379.5M | — | ||
| Q3 24 | $772.8M | — | ||
| Q2 24 | $-1.3B | — | ||
| Q1 24 | $56.9M | — |
| Q4 25 | -65.1% | — | ||
| Q3 25 | -475.7% | — | ||
| Q2 25 | -11.8% | — | ||
| Q1 25 | -37.9% | — | ||
| Q4 24 | -36.8% | — | ||
| Q3 24 | 29.3% | — | ||
| Q2 24 | -120.4% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 2.2% | — | ||
| Q3 25 | 7.0% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 2.1% | — |
| Q4 25 | -3.34× | 7.34× | ||
| Q3 25 | -1732.78× | 1.60× | ||
| Q2 25 | -0.53× | 2.57× | ||
| Q1 25 | -2.71× | -1.37× | ||
| Q4 24 | -1.67× | 3.54× | ||
| Q3 24 | 1.33× | 1.13× | ||
| Q2 24 | -8.57× | 0.85× | ||
| Q1 24 | 1.08× | 0.02× |
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% |
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
