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Side-by-side financial comparison of Carlyle Group Inc. (CG) and PulteGroup (PHM). Click either name above to swap in a different company.
PulteGroup is the larger business by last-quarter revenue ($3.4B vs $1.9B, roughly 1.8× Carlyle Group Inc.). Carlyle Group Inc. runs the higher net margin — 18.8% vs 10.2%, a 8.7% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs -12.4%). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs -13.9%).
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.
PulteGroup, Inc. is an American residential home-construction company based in Atlanta, Georgia, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed. In total, the company has built over 775,000 homes.
CG vs PHM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $3.4B |
| Net Profit | $358.1M | $347.0M |
| Gross Margin | — | — |
| Operating Margin | 24.3% | — |
| Net Margin | 18.8% | 10.2% |
| Revenue YoY | 84.1% | -12.4% |
| Net Profit YoY | 69.8% | -33.6% |
| EPS (diluted) | $0.96 | — |
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 | — | $3.4B | ||
| Q4 25 | $1.9B | $4.6B | ||
| Q3 25 | $332.7M | $4.4B | ||
| Q2 25 | $1.6B | $4.4B | ||
| Q1 25 | $973.1M | $3.9B | ||
| Q4 24 | $1.0B | $4.9B | ||
| Q3 24 | $2.6B | $4.5B | ||
| Q2 24 | $1.1B | $4.6B |
| Q1 26 | — | $347.0M | ||
| Q4 25 | $358.1M | $501.6M | ||
| Q3 25 | $900.0K | $585.8M | ||
| Q2 25 | $319.7M | $608.5M | ||
| Q1 25 | $130.0M | $522.8M | ||
| Q4 24 | $210.9M | $913.2M | ||
| Q3 24 | $595.7M | $697.9M | ||
| Q2 24 | $148.2M | $809.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 27.8% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 31.4% |
| Q1 26 | — | — | ||
| Q4 25 | 24.3% | — | ||
| Q3 25 | 25.8% | — | ||
| Q2 25 | 28.0% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 25.7% | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 20.5% | — |
| Q1 26 | — | 10.2% | ||
| Q4 25 | 18.8% | 10.9% | ||
| Q3 25 | 0.3% | 13.3% | ||
| Q2 25 | 20.3% | 13.8% | ||
| Q1 25 | 13.4% | 13.4% | ||
| Q4 24 | 20.4% | 18.6% | ||
| Q3 24 | 22.6% | 15.6% | ||
| Q2 24 | 13.9% | 17.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $2.56 | ||
| Q3 25 | $0.00 | $2.96 | ||
| Q2 25 | $0.87 | $3.03 | ||
| Q1 25 | $0.35 | $2.57 | ||
| Q4 24 | $0.56 | $4.41 | ||
| Q3 24 | $1.63 | $3.35 | ||
| Q2 24 | $0.40 | $3.83 |
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 | $1.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.1B | $13.0B |
| Total Assets | $29.1B | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.8B | ||
| Q4 25 | $2.0B | $2.0B | ||
| Q3 25 | $2.2B | $1.5B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $914.8M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | $43.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $31.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $13.0B | ||
| Q4 25 | $7.1B | $13.0B | ||
| Q3 25 | $6.8B | $12.8B | ||
| Q2 25 | $6.7B | $12.6B | ||
| Q1 25 | $6.4B | $12.3B | ||
| Q4 24 | $6.3B | $12.1B | ||
| Q3 24 | $6.3B | $11.6B | ||
| Q2 24 | $5.7B | $11.2B |
| Q1 26 | — | $5.2B | ||
| Q4 25 | $29.1B | $18.0B | ||
| Q3 25 | $27.1B | $17.9B | ||
| Q2 25 | $25.1B | $17.6B | ||
| Q1 25 | $24.1B | $17.3B | ||
| Q4 24 | $23.1B | $17.4B | ||
| Q3 24 | $22.7B | $17.0B | ||
| Q2 24 | $22.3B | $16.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| 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 | $159.8M |
| Free Cash FlowOCF − Capex | $-1.2B | — |
| FCF MarginFCF / Revenue | -65.1% | — |
| Capex IntensityCapex / Revenue | 2.2% | 0.7% |
| Cash ConversionOCF / Net Profit | -3.34× | 0.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $159.8M | ||
| Q4 25 | $-1.2B | $771.1M | ||
| Q3 25 | $-1.6B | $678.4M | ||
| Q2 25 | $-168.8M | $287.5M | ||
| Q1 25 | $-352.1M | $134.2M | ||
| Q4 24 | $-352.8M | $567.6M | ||
| Q3 24 | $791.9M | $455.9M | ||
| Q2 24 | $-1.3B | $417.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $739.8M | ||
| Q3 25 | $-1.6B | $651.1M | ||
| Q2 25 | $-186.3M | $253.0M | ||
| Q1 25 | $-368.8M | $104.6M | ||
| Q4 24 | $-379.5M | $543.1M | ||
| Q3 24 | $772.8M | $417.2M | ||
| Q2 24 | $-1.3B | $386.2M |
| Q1 26 | — | — | ||
| Q4 25 | -65.1% | 16.0% | ||
| Q3 25 | -475.7% | 14.8% | ||
| Q2 25 | -11.8% | 5.7% | ||
| Q1 25 | -37.9% | 2.7% | ||
| Q4 24 | -36.8% | 11.0% | ||
| Q3 24 | 29.3% | 9.3% | ||
| Q2 24 | -120.4% | 8.4% |
| Q1 26 | — | 0.7% | ||
| Q4 25 | 2.2% | 0.7% | ||
| Q3 25 | 7.0% | 0.6% | ||
| Q2 25 | 1.1% | 0.8% | ||
| Q1 25 | 1.7% | 0.8% | ||
| Q4 24 | 2.6% | 0.5% | ||
| Q3 24 | 0.7% | 0.9% | ||
| Q2 24 | 1.7% | 0.7% |
| Q1 26 | — | 0.46× | ||
| Q4 25 | -3.34× | 1.54× | ||
| Q3 25 | -1732.78× | 1.16× | ||
| Q2 25 | -0.53× | 0.47× | ||
| Q1 25 | -2.71× | 0.26× | ||
| Q4 24 | -1.67× | 0.62× | ||
| Q3 24 | 1.33× | 0.65× | ||
| Q2 24 | -8.57× | 0.52× |
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% |
PHM
| Home sale revenues | $3.3B | 97% |
| Financial Services | $71.7M | 2% |
| Land sale and other revenues | $29.3M | 1% |
