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Side-by-side financial comparison of Carlyle Group Inc. (CG) and Primoris Services Corp (PRIM). Click either name above to swap in a different company.
Carlyle Group Inc. is the larger business by last-quarter revenue ($1.9B vs $1.9B, roughly 1.0× Primoris Services Corp). Carlyle Group Inc. runs the higher net margin — 18.8% vs 2.8%, a 16.1% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 6.7%). Primoris Services Corp produced more free cash flow last quarter ($121.1M vs $-1.2B). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs 14.7%).
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.
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
CG vs PRIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.9B |
| Net Profit | $358.1M | $51.7M |
| Gross Margin | — | 9.4% |
| Operating Margin | 24.3% | 4.2% |
| Net Margin | 18.8% | 2.8% |
| Revenue YoY | 84.1% | 6.7% |
| Net Profit YoY | 69.8% | -4.2% |
| EPS (diluted) | $0.96 | $0.94 |
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 | $1.9B | ||
| Q3 25 | $332.7M | $2.2B | ||
| Q2 25 | $1.6B | $1.9B | ||
| Q1 25 | $973.1M | $1.6B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $2.6B | $1.6B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $688.4M | $1.4B |
| Q4 25 | $358.1M | $51.7M | ||
| Q3 25 | $900.0K | $94.6M | ||
| Q2 25 | $319.7M | $84.3M | ||
| Q1 25 | $130.0M | $44.2M | ||
| Q4 24 | $210.9M | $54.0M | ||
| Q3 24 | $595.7M | $58.4M | ||
| Q2 24 | $148.2M | $49.5M | ||
| Q1 24 | $65.6M | $18.9M |
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | — | 9.4% |
| Q4 25 | 24.3% | 4.2% | ||
| Q3 25 | 25.8% | 6.3% | ||
| Q2 25 | 28.0% | 6.7% | ||
| Q1 25 | 17.6% | 4.3% | ||
| Q4 24 | 25.7% | 5.0% | ||
| Q3 24 | 29.9% | 6.0% | ||
| Q2 24 | 20.5% | 5.5% | ||
| Q1 24 | 17.5% | 3.1% |
| Q4 25 | 18.8% | 2.8% | ||
| Q3 25 | 0.3% | 4.3% | ||
| Q2 25 | 20.3% | 4.5% | ||
| Q1 25 | 13.4% | 2.7% | ||
| Q4 24 | 20.4% | 3.1% | ||
| Q3 24 | 22.6% | 3.5% | ||
| Q2 24 | 13.9% | 3.2% | ||
| Q1 24 | 9.5% | 1.3% |
| Q4 25 | $0.96 | $0.94 | ||
| Q3 25 | $0.00 | $1.73 | ||
| Q2 25 | $0.87 | $1.54 | ||
| Q1 25 | $0.35 | $0.81 | ||
| Q4 24 | $0.56 | $0.98 | ||
| Q3 24 | $1.63 | $1.07 | ||
| Q2 24 | $0.40 | $0.91 | ||
| Q1 24 | $0.18 | $0.35 |
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 | $535.5M |
| Total DebtLower is stronger | — | $469.9M |
| Stockholders' EquityBook value | $7.1B | $1.7B |
| Total Assets | $29.1B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $535.5M | ||
| Q3 25 | $2.2B | $431.4M | ||
| Q2 25 | $1.3B | $390.3M | ||
| Q1 25 | $1.2B | $351.6M | ||
| Q4 24 | $1.3B | $455.8M | ||
| Q3 24 | $1.4B | $352.7M | ||
| Q2 24 | $914.8M | $207.4M | ||
| Q1 24 | $1.3B | $177.6M |
| Q4 25 | — | $469.9M | ||
| Q3 25 | — | $486.0M | ||
| Q2 25 | — | $603.1M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $734.8M | ||
| Q3 24 | — | $903.7M | ||
| Q2 24 | — | $933.0M | ||
| Q1 24 | — | $951.7M |
| Q4 25 | $7.1B | $1.7B | ||
| Q3 25 | $6.8B | $1.6B | ||
| Q2 25 | $6.7B | $1.5B | ||
| Q1 25 | $6.4B | $1.4B | ||
| Q4 24 | $6.3B | $1.4B | ||
| Q3 24 | $6.3B | $1.4B | ||
| Q2 24 | $5.7B | $1.3B | ||
| Q1 24 | $5.7B | $1.2B |
| Q4 25 | $29.1B | $4.4B | ||
| Q3 25 | $27.1B | $4.6B | ||
| Q2 25 | $25.1B | $4.5B | ||
| Q1 25 | $24.1B | $4.2B | ||
| Q4 24 | $23.1B | $4.2B | ||
| Q3 24 | $22.7B | $4.2B | ||
| Q2 24 | $22.3B | $4.0B | ||
| Q1 24 | $20.8B | $4.0B |
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $142.9M |
| Free Cash FlowOCF − Capex | $-1.2B | $121.1M |
| FCF MarginFCF / Revenue | -65.1% | 6.5% |
| Capex IntensityCapex / Revenue | 2.2% | 1.2% |
| Cash ConversionOCF / Net Profit | -3.34× | 2.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | $340.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2B | $142.9M | ||
| Q3 25 | $-1.6B | $182.9M | ||
| Q2 25 | $-168.8M | $78.5M | ||
| Q1 25 | $-352.1M | $66.2M | ||
| Q4 24 | $-352.8M | $298.3M | ||
| Q3 24 | $791.9M | $222.5M | ||
| Q2 24 | $-1.3B | $16.1M | ||
| Q1 24 | $71.1M | $-28.5M |
| Q4 25 | $-1.2B | $121.1M | ||
| Q3 25 | $-1.6B | $148.4M | ||
| Q2 25 | $-186.3M | $45.3M | ||
| Q1 25 | $-368.8M | $25.6M | ||
| Q4 24 | $-379.5M | $270.0M | ||
| Q3 24 | $772.8M | $158.8M | ||
| Q2 24 | $-1.3B | $-8.1M | ||
| Q1 24 | $56.9M | $-38.9M |
| Q4 25 | -65.1% | 6.5% | ||
| Q3 25 | -475.7% | 6.8% | ||
| Q2 25 | -11.8% | 2.4% | ||
| Q1 25 | -37.9% | 1.6% | ||
| Q4 24 | -36.8% | 15.5% | ||
| Q3 24 | 29.3% | 9.6% | ||
| Q2 24 | -120.4% | -0.5% | ||
| Q1 24 | 8.3% | -2.8% |
| Q4 25 | 2.2% | 1.2% | ||
| Q3 25 | 7.0% | 1.6% | ||
| Q2 25 | 1.1% | 1.8% | ||
| Q1 25 | 1.7% | 2.5% | ||
| Q4 24 | 2.6% | 1.6% | ||
| Q3 24 | 0.7% | 3.9% | ||
| Q2 24 | 1.7% | 1.5% | ||
| Q1 24 | 2.1% | 0.7% |
| Q4 25 | -3.34× | 2.76× | ||
| Q3 25 | -1732.78× | 1.93× | ||
| Q2 25 | -0.53× | 0.93× | ||
| Q1 25 | -2.71× | 1.50× | ||
| Q4 24 | -1.67× | 5.53× | ||
| Q3 24 | 1.33× | 3.81× | ||
| Q2 24 | -8.57× | 0.32× | ||
| Q1 24 | 1.08× | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
