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Side-by-side financial comparison of Carlyle Group Inc. (CG) and Vertiv Holdings Co (VRT). Click either name above to swap in a different company.
Vertiv Holdings Co is the larger business by last-quarter revenue ($2.6B vs $1.9B, roughly 1.4× Carlyle Group Inc.). Carlyle Group Inc. runs the higher net margin — 18.8% vs 14.7%, a 4.1% gap on every dollar of revenue. On growth, Carlyle Group Inc. posted the faster year-over-year revenue change (84.1% vs 30.1%). Vertiv Holdings Co produced more free cash flow last quarter ($652.8M vs $-1.2B). Over the past eight quarters, Carlyle Group Inc.'s revenue compounded faster (66.2% CAGR vs 16.5%).
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.
Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments.
CG vs VRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.6B |
| Net Profit | $358.1M | $390.1M |
| Gross Margin | — | 37.7% |
| Operating Margin | 24.3% | — |
| Net Margin | 18.8% | 14.7% |
| Revenue YoY | 84.1% | 30.1% |
| Net Profit YoY | 69.8% | — |
| EPS (diluted) | $0.96 | $0.99 |
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 | — | $2.6B | ||
| Q4 25 | $1.9B | $2.9B | ||
| Q3 25 | $332.7M | $2.7B | ||
| Q2 25 | $1.6B | $2.6B | ||
| Q1 25 | $973.1M | $2.0B | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $2.6B | $2.1B | ||
| Q2 24 | $1.1B | $2.0B |
| Q1 26 | — | $390.1M | ||
| Q4 25 | $358.1M | $445.6M | ||
| Q3 25 | $900.0K | $398.5M | ||
| Q2 25 | $319.7M | $324.2M | ||
| Q1 25 | $130.0M | $164.5M | ||
| Q4 24 | $210.9M | $147.0M | ||
| Q3 24 | $595.7M | $176.6M | ||
| Q2 24 | $148.2M | $178.1M |
| Q1 26 | — | 37.7% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 37.1% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 38.0% |
| Q1 26 | — | — | ||
| Q4 25 | 24.3% | 20.1% | ||
| Q3 25 | 25.8% | 19.3% | ||
| Q2 25 | 28.0% | 16.8% | ||
| Q1 25 | 17.6% | 14.3% | ||
| Q4 24 | 25.7% | 19.5% | ||
| Q3 24 | 29.9% | 17.9% | ||
| Q2 24 | 20.5% | 17.2% |
| Q1 26 | — | 14.7% | ||
| Q4 25 | 18.8% | 15.5% | ||
| Q3 25 | 0.3% | 14.9% | ||
| Q2 25 | 20.3% | 12.3% | ||
| Q1 25 | 13.4% | 8.1% | ||
| Q4 24 | 20.4% | 6.3% | ||
| Q3 24 | 22.6% | 8.5% | ||
| Q2 24 | 13.9% | 9.1% |
| Q1 26 | — | $0.99 | ||
| Q4 25 | $0.96 | $1.14 | ||
| Q3 25 | $0.00 | $1.02 | ||
| Q2 25 | $0.87 | $0.83 | ||
| Q1 25 | $0.35 | $0.42 | ||
| Q4 24 | $0.56 | $0.38 | ||
| Q3 24 | $1.63 | $0.46 | ||
| Q2 24 | $0.40 | $0.46 |
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 | $2.5B |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $7.1B | $4.2B |
| Total Assets | $29.1B | $13.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.5B | ||
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $908.7M | ||
| Q2 24 | $914.8M | $579.7M |
| Q1 26 | — | $0 | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.9B |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $7.1B | $3.9B | ||
| Q3 25 | $6.8B | $3.5B | ||
| Q2 25 | $6.7B | $3.1B | ||
| Q1 25 | $6.4B | $2.7B | ||
| Q4 24 | $6.3B | $2.4B | ||
| Q3 24 | $6.3B | $1.8B | ||
| Q2 24 | $5.7B | $1.5B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $29.1B | $12.2B | ||
| Q3 25 | $27.1B | $10.8B | ||
| Q2 25 | $25.1B | $10.4B | ||
| Q1 25 | $24.1B | $9.5B | ||
| Q4 24 | $23.1B | $9.1B | ||
| Q3 24 | $22.7B | $8.9B | ||
| Q2 24 | $22.3B | $8.1B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.20× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 1.91× |
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 | $652.8M |
| FCF MarginFCF / Revenue | -65.1% | 24.6% |
| Capex IntensityCapex / Revenue | 2.2% | 4.2% |
| Cash ConversionOCF / Net Profit | -3.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.4B | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $978.9M | ||
| Q3 25 | $-1.6B | $508.7M | ||
| Q2 25 | $-168.8M | $322.9M | ||
| Q1 25 | $-352.1M | $303.3M | ||
| Q4 24 | $-352.8M | $425.2M | ||
| Q3 24 | $791.9M | $378.2M | ||
| Q2 24 | $-1.3B | $378.4M |
| Q1 26 | — | $652.8M | ||
| Q4 25 | $-1.2B | $885.6M | ||
| Q3 25 | $-1.6B | $463.5M | ||
| Q2 25 | $-186.3M | $277.9M | ||
| Q1 25 | $-368.8M | $266.8M | ||
| Q4 24 | $-379.5M | $364.5M | ||
| Q3 24 | $772.8M | $341.8M | ||
| Q2 24 | $-1.3B | $344.3M |
| Q1 26 | — | 24.6% | ||
| Q4 25 | -65.1% | 30.8% | ||
| Q3 25 | -475.7% | 17.3% | ||
| Q2 25 | -11.8% | 10.5% | ||
| Q1 25 | -37.9% | 13.1% | ||
| Q4 24 | -36.8% | 15.5% | ||
| Q3 24 | 29.3% | 16.5% | ||
| Q2 24 | -120.4% | 17.6% |
| Q1 26 | — | 4.2% | ||
| Q4 25 | 2.2% | 3.2% | ||
| Q3 25 | 7.0% | 1.7% | ||
| Q2 25 | 1.1% | 1.7% | ||
| Q1 25 | 1.7% | 1.8% | ||
| Q4 24 | 2.6% | 2.6% | ||
| Q3 24 | 0.7% | 1.8% | ||
| Q2 24 | 1.7% | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | -3.34× | 2.20× | ||
| Q3 25 | -1732.78× | 1.28× | ||
| Q2 25 | -0.53× | 1.00× | ||
| Q1 25 | -2.71× | 1.84× | ||
| Q4 24 | -1.67× | 2.89× | ||
| Q3 24 | 1.33× | 2.14× | ||
| Q2 24 | -8.57× | 2.12× |
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% |
VRT
Segment breakdown not available.
