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Side-by-side financial comparison of Carlyle Group Inc. (CG) and Ovintiv Inc. (OVV). Click either name above to swap in a different company.
Ovintiv Inc. is the larger business by last-quarter revenue ($2.1B vs $1.9B, roughly 1.1× Carlyle Group Inc.). Ovintiv Inc. runs the higher net margin — 46.1% vs 18.8%, a 27.2% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs -6.0%). Ovintiv Inc. produced more free cash flow last quarter ($489.0M vs $-1.2B). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs -7.2%).
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.
Ovintiv Inc. is a U.S. petroleum company based in Denver. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana.
CG vs OVV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.1B |
| Net Profit | $358.1M | $946.0M |
| Gross Margin | — | — |
| Operating Margin | 24.3% | 21.2% |
| Net Margin | 18.8% | 46.1% |
| Revenue YoY | 84.1% | -6.0% |
| Net Profit YoY | 69.8% | 1676.7% |
| EPS (diluted) | $0.96 | $3.64 |
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 | $2.0B | ||
| Q2 25 | $1.6B | $2.2B | ||
| Q1 25 | $973.1M | $2.4B | ||
| Q4 24 | $1.0B | $2.2B | ||
| Q3 24 | $2.6B | $2.2B | ||
| Q2 24 | $1.1B | $2.2B | ||
| Q1 24 | $688.4M | $2.4B |
| Q4 25 | $358.1M | $946.0M | ||
| Q3 25 | $900.0K | $148.0M | ||
| Q2 25 | $319.7M | $307.0M | ||
| Q1 25 | $130.0M | $-159.0M | ||
| Q4 24 | $210.9M | $-60.0M | ||
| Q3 24 | $595.7M | $507.0M | ||
| Q2 24 | $148.2M | $340.0M | ||
| Q1 24 | $65.6M | $338.0M |
| Q4 25 | 24.3% | 21.2% | ||
| Q3 25 | 25.8% | 13.5% | ||
| Q2 25 | 28.0% | 23.1% | ||
| Q1 25 | 17.6% | -3.7% | ||
| Q4 24 | 25.7% | 0.1% | ||
| Q3 24 | 29.9% | 24.2% | ||
| Q2 24 | 20.5% | 25.4% | ||
| Q1 24 | 17.5% | 20.7% |
| Q4 25 | 18.8% | 46.1% | ||
| Q3 25 | 0.3% | 7.3% | ||
| Q2 25 | 20.3% | 13.9% | ||
| Q1 25 | 13.4% | -6.7% | ||
| Q4 24 | 20.4% | -2.7% | ||
| Q3 24 | 22.6% | 23.3% | ||
| Q2 24 | 13.9% | 15.5% | ||
| Q1 24 | 9.5% | 14.2% |
| Q4 25 | $0.96 | $3.64 | ||
| Q3 25 | $0.00 | $0.57 | ||
| Q2 25 | $0.87 | $1.18 | ||
| Q1 25 | $0.35 | $-0.61 | ||
| Q4 24 | $0.56 | $-0.22 | ||
| Q3 24 | $1.63 | $1.92 | ||
| Q2 24 | $0.40 | $1.27 | ||
| Q1 24 | $0.18 | $1.24 |
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 | $280.0M |
| Total DebtLower is stronger | — | $5.2B |
| Stockholders' EquityBook value | $7.1B | $11.2B |
| Total Assets | $29.1B | $20.4B |
| Debt / EquityLower = less leverage | — | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $280.0M | ||
| Q3 25 | $2.2B | $25.0M | ||
| Q2 25 | $1.3B | $20.0M | ||
| Q1 25 | $1.2B | $8.0M | ||
| Q4 24 | $1.3B | $42.0M | ||
| Q3 24 | $1.4B | $9.0M | ||
| Q2 24 | $914.8M | $8.0M | ||
| Q1 24 | $1.3B | $5.0M |
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $6.2B |
| Q4 25 | $7.1B | $11.2B | ||
| Q3 25 | $6.8B | $10.2B | ||
| Q2 25 | $6.7B | $10.4B | ||
| Q1 25 | $6.4B | $10.1B | ||
| Q4 24 | $6.3B | $10.3B | ||
| Q3 24 | $6.3B | $10.7B | ||
| Q2 24 | $5.7B | $10.3B | ||
| Q1 24 | $5.7B | $10.3B |
| Q4 25 | $29.1B | $20.4B | ||
| Q3 25 | $27.1B | $19.4B | ||
| Q2 25 | $25.1B | $19.7B | ||
| Q1 25 | $24.1B | $19.6B | ||
| Q4 24 | $23.1B | $19.3B | ||
| Q3 24 | $22.7B | $19.9B | ||
| Q2 24 | $22.3B | $19.8B | ||
| Q1 24 | $20.8B | $19.8B |
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.60× |
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 | $954.0M |
| Free Cash FlowOCF − Capex | $-1.2B | $489.0M |
| FCF MarginFCF / Revenue | -65.1% | 23.8% |
| Capex IntensityCapex / Revenue | 2.2% | 22.6% |
| Cash ConversionOCF / Net Profit | -3.34× | 1.01× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2B | $954.0M | ||
| Q3 25 | $-1.6B | $812.0M | ||
| Q2 25 | $-168.8M | $1.0B | ||
| Q1 25 | $-352.1M | $873.0M | ||
| Q4 24 | $-352.8M | $1.0B | ||
| Q3 24 | $791.9M | $1.0B | ||
| Q2 24 | $-1.3B | $1.0B | ||
| Q1 24 | $71.1M | $659.0M |
| Q4 25 | $-1.2B | $489.0M | ||
| Q3 25 | $-1.6B | $268.0M | ||
| Q2 25 | $-186.3M | $492.0M | ||
| Q1 25 | $-368.8M | $256.0M | ||
| Q4 24 | $-379.5M | $468.0M | ||
| Q3 24 | $772.8M | $484.0M | ||
| Q2 24 | $-1.3B | $398.0M | ||
| Q1 24 | $56.9M | $68.0M |
| Q4 25 | -65.1% | 23.8% | ||
| Q3 25 | -475.7% | 13.3% | ||
| Q2 25 | -11.8% | 22.2% | ||
| Q1 25 | -37.9% | 10.8% | ||
| Q4 24 | -36.8% | 21.4% | ||
| Q3 24 | 29.3% | 22.2% | ||
| Q2 24 | -120.4% | 18.1% | ||
| Q1 24 | 8.3% | 2.8% |
| Q4 25 | 2.2% | 22.6% | ||
| Q3 25 | 7.0% | 26.9% | ||
| Q2 25 | 1.1% | 23.5% | ||
| Q1 25 | 1.7% | 26.0% | ||
| Q4 24 | 2.6% | 25.3% | ||
| Q3 24 | 0.7% | 24.7% | ||
| Q2 24 | 1.7% | 28.4% | ||
| Q1 24 | 2.1% | 24.8% |
| Q4 25 | -3.34× | 1.01× | ||
| Q3 25 | -1732.78× | 5.49× | ||
| Q2 25 | -0.53× | 3.30× | ||
| Q1 25 | -2.71× | — | ||
| Q4 24 | -1.67× | — | ||
| Q3 24 | 1.33× | 2.02× | ||
| Q2 24 | -8.57× | 3.00× | ||
| Q1 24 | 1.08× | 1.95× |
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% |
OVV
| Product And Service Revenue | $1.7B | 84% |
| Sales Of Purchased Product | $338.0M | 16% |
