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Side-by-side financial comparison of Carlyle Group Inc. (CG) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Carlyle Group Inc. is the larger business by last-quarter revenue ($1.9B vs $1.0B, roughly 1.9× Liberty Energy Inc.). Carlyle Group Inc. runs the higher net margin — 18.8% vs 2.2%, a 16.6% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 4.5%). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs -6.2%).
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.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
CG vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.0B |
| Net Profit | $358.1M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 24.3% | 2.2% |
| Net Margin | 18.8% | 2.2% |
| Revenue YoY | 84.1% | 4.5% |
| Net Profit YoY | 69.8% | — |
| EPS (diluted) | $0.96 | $0.14 |
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.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.9B | $1.0B | ||
| Q3 25 | $332.7M | $947.4M | ||
| Q2 25 | $1.6B | $1.0B | ||
| Q1 25 | $973.1M | $977.5M | ||
| Q4 24 | $1.0B | $943.6M | ||
| Q3 24 | $2.6B | $1.1B | ||
| Q2 24 | $1.1B | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $358.1M | $13.7M | ||
| Q3 25 | $900.0K | $43.1M | ||
| Q2 25 | $319.7M | $71.0M | ||
| Q1 25 | $130.0M | $20.1M | ||
| Q4 24 | $210.9M | $51.9M | ||
| Q3 24 | $595.7M | $73.8M | ||
| Q2 24 | $148.2M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 24.3% | 1.9% | ||
| Q3 25 | 25.8% | -0.3% | ||
| Q2 25 | 28.0% | 3.6% | ||
| Q1 25 | 17.6% | 1.9% | ||
| Q4 24 | 25.7% | 2.6% | ||
| Q3 24 | 29.9% | 9.4% | ||
| Q2 24 | 20.5% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 18.8% | 1.3% | ||
| Q3 25 | 0.3% | 4.5% | ||
| Q2 25 | 20.3% | 6.8% | ||
| Q1 25 | 13.4% | 2.1% | ||
| Q4 24 | 20.4% | 5.5% | ||
| Q3 24 | 22.6% | 6.5% | ||
| Q2 24 | 13.9% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.96 | $0.08 | ||
| Q3 25 | $0.00 | $0.26 | ||
| Q2 25 | $0.87 | $0.43 | ||
| Q1 25 | $0.35 | $0.12 | ||
| Q4 24 | $0.56 | $0.31 | ||
| Q3 24 | $1.63 | $0.44 | ||
| Q2 24 | $0.40 | $0.64 |
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 | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $7.1B | $1.9B |
| Total Assets | $29.1B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $2.0B | $27.6M | ||
| Q3 25 | $2.2B | $13.5M | ||
| Q2 25 | $1.3B | $19.6M | ||
| Q1 25 | $1.2B | $24.1M | ||
| Q4 24 | $1.3B | $20.0M | ||
| Q3 24 | $1.4B | $23.0M | ||
| Q2 24 | $914.8M | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $7.1B | $2.1B | ||
| Q3 25 | $6.8B | $2.1B | ||
| Q2 25 | $6.7B | $2.0B | ||
| Q1 25 | $6.4B | $2.0B | ||
| Q4 24 | $6.3B | $2.0B | ||
| Q3 24 | $6.3B | $2.0B | ||
| Q2 24 | $5.7B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $29.1B | $3.6B | ||
| Q3 25 | $27.1B | $3.5B | ||
| Q2 25 | $25.1B | $3.4B | ||
| Q1 25 | $24.1B | $3.4B | ||
| Q4 24 | $23.1B | $3.3B | ||
| Q3 24 | $22.7B | $3.3B | ||
| Q2 24 | $22.3B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $-1.2B | — |
| FCF MarginFCF / Revenue | -65.1% | — |
| Capex IntensityCapex / Revenue | 2.2% | 13.1% |
| Cash ConversionOCF / Net Profit | -3.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $195.4M | ||
| Q3 25 | $-1.6B | $51.5M | ||
| Q2 25 | $-168.8M | $170.6M | ||
| Q1 25 | $-352.1M | $192.1M | ||
| Q4 24 | $-352.8M | $177.3M | ||
| Q3 24 | $791.9M | $244.5M | ||
| Q2 24 | $-1.3B | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $-10.0M | ||
| Q3 25 | $-1.6B | $-67.2M | ||
| Q2 25 | $-186.3M | $33.1M | ||
| Q1 25 | $-368.8M | $58.2M | ||
| Q4 24 | $-379.5M | $-26.2M | ||
| Q3 24 | $772.8M | $77.9M | ||
| Q2 24 | $-1.3B | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | -65.1% | -1.0% | ||
| Q3 25 | -475.7% | -7.1% | ||
| Q2 25 | -11.8% | 3.2% | ||
| Q1 25 | -37.9% | 6.0% | ||
| Q4 24 | -36.8% | -2.8% | ||
| Q3 24 | 29.3% | 6.8% | ||
| Q2 24 | -120.4% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 2.2% | 19.8% | ||
| Q3 25 | 7.0% | 12.5% | ||
| Q2 25 | 1.1% | 13.2% | ||
| Q1 25 | 1.7% | 13.7% | ||
| Q4 24 | 2.6% | 21.6% | ||
| Q3 24 | 0.7% | 14.6% | ||
| Q2 24 | 1.7% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | -3.34× | 14.28× | ||
| Q3 25 | -1732.78× | 1.20× | ||
| Q2 25 | -0.53× | 2.40× | ||
| Q1 25 | -2.71× | 9.55× | ||
| Q4 24 | -1.67× | 3.42× | ||
| Q3 24 | 1.33× | 3.31× | ||
| Q2 24 | -8.57× | 2.29× |
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% |
LBRT
Segment breakdown not available.
