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Side-by-side financial comparison of Carlyle Group Inc. (CG) and SELECT MEDICAL HOLDINGS CORP (SEM). Click either name above to swap in a different company.
Carlyle Group Inc. is the larger business by last-quarter revenue ($1.9B vs $1.4B, roughly 1.4× SELECT MEDICAL HOLDINGS CORP). Carlyle Group Inc. runs the higher net margin — 18.8% vs 1.4%, a 17.4% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 6.4%). SELECT MEDICAL HOLDINGS CORP produced more free cash flow last quarter ($5.2M vs $-1.2B). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs 2.8%).
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.
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
CG vs SEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.4B |
| Net Profit | $358.1M | $20.2M |
| Gross Margin | — | — |
| Operating Margin | 24.3% | 4.6% |
| Net Margin | 18.8% | 1.4% |
| Revenue YoY | 84.1% | 6.4% |
| Net Profit YoY | 69.8% | 225.7% |
| EPS (diluted) | $0.96 | $0.17 |
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 | $1.4B | ||
| Q3 25 | $332.7M | $1.4B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $973.1M | $1.4B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $688.4M | $1.3B |
| Q4 25 | $358.1M | $20.2M | ||
| Q3 25 | $900.0K | $28.8M | ||
| Q2 25 | $319.7M | $40.6M | ||
| Q1 25 | $130.0M | $56.7M | ||
| Q4 24 | $210.9M | $-16.1M | ||
| Q3 24 | $595.7M | $55.6M | ||
| Q2 24 | $148.2M | $77.6M | ||
| Q1 24 | $65.6M | $96.9M |
| Q4 25 | 24.3% | 4.6% | ||
| Q3 25 | 25.8% | 5.4% | ||
| Q2 25 | 28.0% | 6.5% | ||
| Q1 25 | 17.6% | 8.3% | ||
| Q4 24 | 25.7% | 1.6% | ||
| Q3 24 | 29.9% | 4.3% | ||
| Q2 24 | 20.5% | 5.8% | ||
| Q1 24 | 17.5% | 9.0% |
| Q4 25 | 18.8% | 1.4% | ||
| Q3 25 | 0.3% | 2.1% | ||
| Q2 25 | 20.3% | 3.0% | ||
| Q1 25 | 13.4% | 4.2% | ||
| Q4 24 | 20.4% | -1.2% | ||
| Q3 24 | 22.6% | 4.4% | ||
| Q2 24 | 13.9% | 6.1% | ||
| Q1 24 | 9.5% | 7.3% |
| Q4 25 | $0.96 | $0.17 | ||
| Q3 25 | $0.00 | $0.23 | ||
| Q2 25 | $0.87 | $0.32 | ||
| Q1 25 | $0.35 | $0.44 | ||
| Q4 24 | $0.56 | $-0.12 | ||
| Q3 24 | $1.63 | $0.43 | ||
| Q2 24 | $0.40 | $0.60 | ||
| Q1 24 | $0.18 | $0.75 |
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 | $26.5M |
| Total DebtLower is stronger | — | $1.8B |
| Stockholders' EquityBook value | $7.1B | $1.7B |
| Total Assets | $29.1B | $5.9B |
| Debt / EquityLower = less leverage | — | 1.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $26.5M | ||
| Q3 25 | $2.2B | $60.1M | ||
| Q2 25 | $1.3B | $52.3M | ||
| Q1 25 | $1.2B | $53.2M | ||
| Q4 24 | $1.3B | $59.7M | ||
| Q3 24 | $1.4B | $191.5M | ||
| Q2 24 | $914.8M | $111.2M | ||
| Q1 24 | $1.3B | $92.6M |
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.8B |
| Q4 25 | $7.1B | $1.7B | ||
| Q3 25 | $6.8B | $1.7B | ||
| Q2 25 | $6.7B | $1.7B | ||
| Q1 25 | $6.4B | $1.7B | ||
| Q4 24 | $6.3B | $1.7B | ||
| Q3 24 | $6.3B | $1.9B | ||
| Q2 24 | $5.7B | $1.4B | ||
| Q1 24 | $5.7B | $1.4B |
| Q4 25 | $29.1B | $5.9B | ||
| Q3 25 | $27.1B | $5.7B | ||
| Q2 25 | $25.1B | $5.7B | ||
| Q1 25 | $24.1B | $5.7B | ||
| Q4 24 | $23.1B | $5.6B | ||
| Q3 24 | $22.7B | $8.0B | ||
| Q2 24 | $22.3B | $7.9B | ||
| Q1 24 | $20.8B | $7.9B |
| Q4 25 | — | 1.06× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 2.54× | ||
| Q1 24 | — | 2.75× |
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 | $64.3M |
| Free Cash FlowOCF − Capex | $-1.2B | $5.2M |
| FCF MarginFCF / Revenue | -65.1% | 0.4% |
| Capex IntensityCapex / Revenue | 2.2% | 4.2% |
| Cash ConversionOCF / Net Profit | -3.34× | 3.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | $117.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2B | $64.3M | ||
| Q3 25 | $-1.6B | $175.3M | ||
| Q2 25 | $-168.8M | $110.3M | ||
| Q1 25 | $-352.1M | $-3.5M | ||
| Q4 24 | $-352.8M | $125.4M | ||
| Q3 24 | $791.9M | $181.0M | ||
| Q2 24 | $-1.3B | $278.2M | ||
| Q1 24 | $71.1M | $-66.7M |
| Q4 25 | $-1.2B | $5.2M | ||
| Q3 25 | $-1.6B | $122.2M | ||
| Q2 25 | $-186.3M | $45.6M | ||
| Q1 25 | $-368.8M | $-55.8M | ||
| Q4 24 | $-379.5M | $62.0M | ||
| Q3 24 | $772.8M | $130.3M | ||
| Q2 24 | $-1.3B | $222.6M | ||
| Q1 24 | $56.9M | $-119.2M |
| Q4 25 | -65.1% | 0.4% | ||
| Q3 25 | -475.7% | 9.0% | ||
| Q2 25 | -11.8% | 3.4% | ||
| Q1 25 | -37.9% | -4.1% | ||
| Q4 24 | -36.8% | 4.7% | ||
| Q3 24 | 29.3% | 10.2% | ||
| Q2 24 | -120.4% | 17.4% | ||
| Q1 24 | 8.3% | -9.0% |
| Q4 25 | 2.2% | 4.2% | ||
| Q3 25 | 7.0% | 3.9% | ||
| Q2 25 | 1.1% | 4.8% | ||
| Q1 25 | 1.7% | 3.9% | ||
| Q4 24 | 2.6% | 4.8% | ||
| Q3 24 | 0.7% | 4.0% | ||
| Q2 24 | 1.7% | 4.3% | ||
| Q1 24 | 2.1% | 4.0% |
| Q4 25 | -3.34× | 3.19× | ||
| Q3 25 | -1732.78× | 6.09× | ||
| Q2 25 | -0.53× | 2.72× | ||
| Q1 25 | -2.71× | -0.06× | ||
| Q4 24 | -1.67× | — | ||
| Q3 24 | 1.33× | 3.25× | ||
| Q2 24 | -8.57× | 3.59× | ||
| Q1 24 | 1.08× | -0.69× |
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% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
