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Side-by-side financial comparison of Carlyle Group Inc. (CG) and LANDSTAR SYSTEM INC (LSTR). 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× LANDSTAR SYSTEM INC). Carlyle Group Inc. runs the higher net margin — 18.8% vs 3.4%, a 15.5% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 1.6%). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs -2.2%).
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.
Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, ...
CG vs LSTR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.2B |
| Net Profit | $358.1M | $39.4M |
| Gross Margin | — | 9.6% |
| Operating Margin | 24.3% | 4.5% |
| Net Margin | 18.8% | 3.4% |
| Revenue YoY | 84.1% | 1.6% |
| Net Profit YoY | 69.8% | 32.3% |
| EPS (diluted) | $0.96 | $1.16 |
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 | — | $1.2B | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $332.7M | $1.2B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $973.1M | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B |
| Q1 26 | — | $39.4M | ||
| Q4 25 | $358.1M | $23.9M | ||
| Q3 25 | $900.0K | $19.4M | ||
| Q2 25 | $319.7M | $41.9M | ||
| Q1 25 | $130.0M | $29.8M | ||
| Q4 24 | $210.9M | $46.2M | ||
| Q3 24 | $595.7M | $50.0M | ||
| Q2 24 | $148.2M | $52.6M |
| Q1 26 | — | 9.6% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 4.5% | ||
| Q4 25 | 24.3% | 2.5% | ||
| Q3 25 | 25.8% | 2.2% | ||
| Q2 25 | 28.0% | 4.6% | ||
| Q1 25 | 17.6% | 3.4% | ||
| Q4 24 | 25.7% | 4.8% | ||
| Q3 24 | 29.9% | 5.2% | ||
| Q2 24 | 20.5% | 5.6% |
| Q1 26 | — | 3.4% | ||
| Q4 25 | 18.8% | 2.0% | ||
| Q3 25 | 0.3% | 1.6% | ||
| Q2 25 | 20.3% | 3.5% | ||
| Q1 25 | 13.4% | 2.6% | ||
| Q4 24 | 20.4% | 3.8% | ||
| Q3 24 | 22.6% | 4.1% | ||
| Q2 24 | 13.9% | 4.3% |
| Q1 26 | — | $1.16 | ||
| Q4 25 | $0.96 | $0.70 | ||
| Q3 25 | $0.00 | $0.56 | ||
| Q2 25 | $0.87 | $1.20 | ||
| Q1 25 | $0.35 | $0.85 | ||
| Q4 24 | $0.56 | $1.30 | ||
| Q3 24 | $1.63 | $1.41 | ||
| Q2 24 | $0.40 | $1.48 |
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 | $411.0M |
| Total DebtLower is stronger | — | $26.1M |
| Stockholders' EquityBook value | $7.1B | $799.0M |
| Total Assets | $29.1B | $1.6B |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $411.0M | ||
| Q4 25 | $2.0B | $452.2M | ||
| Q3 25 | $2.2B | $434.4M | ||
| Q2 25 | $1.3B | $426.2M | ||
| Q1 25 | $1.2B | $473.4M | ||
| Q4 24 | $1.3B | $566.6M | ||
| Q3 24 | $1.4B | $531.3M | ||
| Q2 24 | $914.8M | $504.0M |
| Q1 26 | — | $26.1M | ||
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 |
| Q1 26 | — | $799.0M | ||
| Q4 25 | $7.1B | $795.7M | ||
| Q3 25 | $6.8B | $888.7M | ||
| Q2 25 | $6.7B | $921.8M | ||
| Q1 25 | $6.4B | $930.8M | ||
| Q4 24 | $6.3B | $972.4M | ||
| Q3 24 | $6.3B | $1.0B | ||
| Q2 24 | $5.7B | $1.0B |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $29.1B | $1.6B | ||
| Q3 25 | $27.1B | $1.7B | ||
| Q2 25 | $25.1B | $1.7B | ||
| Q1 25 | $24.1B | $1.7B | ||
| Q4 24 | $23.1B | $1.8B | ||
| Q3 24 | $22.7B | $1.8B | ||
| Q2 24 | $22.3B | $1.8B |
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
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% | — |
| 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 | $72.7M | ||
| Q3 25 | $-1.6B | $89.3M | ||
| Q2 25 | $-168.8M | $7.1M | ||
| Q1 25 | $-352.1M | $55.7M | ||
| Q4 24 | $-352.8M | $61.1M | ||
| Q3 24 | $791.9M | $83.1M | ||
| Q2 24 | $-1.3B | $48.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $70.5M | ||
| Q3 25 | $-1.6B | $86.0M | ||
| Q2 25 | $-186.3M | $4.7M | ||
| Q1 25 | $-368.8M | $53.8M | ||
| Q4 24 | $-379.5M | $54.4M | ||
| Q3 24 | $772.8M | $75.6M | ||
| Q2 24 | $-1.3B | $40.6M |
| Q1 26 | — | — | ||
| Q4 25 | -65.1% | 6.0% | ||
| Q3 25 | -475.7% | 7.1% | ||
| Q2 25 | -11.8% | 0.4% | ||
| Q1 25 | -37.9% | 4.7% | ||
| Q4 24 | -36.8% | 4.5% | ||
| Q3 24 | 29.3% | 6.2% | ||
| Q2 24 | -120.4% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 0.2% | ||
| Q3 25 | 7.0% | 0.3% | ||
| Q2 25 | 1.1% | 0.2% | ||
| Q1 25 | 1.7% | 0.2% | ||
| Q4 24 | 2.6% | 0.6% | ||
| Q3 24 | 0.7% | 0.6% | ||
| Q2 24 | 1.7% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | -3.34× | 3.04× | ||
| Q3 25 | -1732.78× | 4.61× | ||
| Q2 25 | -0.53× | 0.17× | ||
| Q1 25 | -2.71× | 1.87× | ||
| Q4 24 | -1.67× | 1.32× | ||
| Q3 24 | 1.33× | 1.66× | ||
| Q2 24 | -8.57× | 0.91× |
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% |
LSTR
Segment breakdown not available.
