Carlyle Secured Lending Inc - Understand $cgbd stock

$CGBD Market Cap: $902.6 Million

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Financial Snapshot

Revenue

$147.8M

TTM

Gross Margin

90.04%

TTM

Net Earnings

$106.7M

TTM

Current Assets

$140.6M

Q2 2024

Current Liabilities

$49.73M

Q2 2024

Current Ratio

282.71%

Q2 2024

Total Assets

$1.867B

Q2 2024

Total Liabilities

$955.8M

Q2 2024

Book Value

$910.8M

Q2 2024

Cash

$92.22M

Q2 2024

P/E

8.458

Oct 17, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$112.4M	$105.9M	$171.2M	$182.1M	$221.3M	$207.5M	$165.0M	$111.0M	$69.20M	$33.00M	$5.000M
YoY Change	6.17%	-38.17%	-5.96%	-17.71%	6.65%	25.76%	48.65%	60.4%	109.7%	560.0%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$112.4M	$105.9M	$171.2M	$182.1M	$221.3M	$207.5M	$165.0M	$111.0M	$69.20M	$33.00M	$5.000M
Cost Of Revenue	$125.5M	$97.24M	$79.94M	$89.90M	$110.6M	$96.10M	$69.80M	$48.40M	$31.30M	$17.00M	$5.400M
Gross Profit	$116.1M	$110.0M	$91.30M	$92.30M	$110.7M	$111.4M	$95.20M	$62.60M	$37.90M	$16.00M	-$400.0K
Gross Profit Margin	103.28%	103.92%	53.32%	50.69%	50.02%	53.69%	57.7%	56.4%	54.77%	48.48%	-8.0%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Selling, General & Admin	$3.684M	$4.148M	$3.664M	$2.900M	$2.600M	$2.700M	$2.800M	$2.900M	$2.300M	$1.800M	$1.300M
YoY Change	-11.19%	13.21%	26.34%	11.54%	-3.7%	-3.57%	-3.45%	26.09%	27.78%	38.46%
% of Gross Profit	3.17%	3.77%	4.01%	3.14%	2.35%	2.42%	2.94%	4.63%	6.07%	11.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$6.119M	$5.977M	$4.446M	$3.400M	$3.000M	$3.000M	$3.100M	$3.000M	$2.400M	$1.700M	$1.200M
YoY Change	2.38%	34.44%	30.76%	13.33%	0.0%	-3.23%	3.33%	25.0%	41.18%	41.67%
Operating Profit	$110.0M	$104.0M	$86.85M	$88.90M	$107.7M	$108.4M	$92.10M	$59.60M	$35.50M	$14.30M	-$1.600M
YoY Change	5.7%	19.79%	-2.3%	-17.46%	-0.65%	17.7%	54.53%	67.89%	148.25%	-993.75%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Interest Expense	-$17.69M	$43.96M	$73.50M	-$82.00M	-$46.30M	-$69.30M	-$8.000M	$10.20M	-$16.90M	-$8.600M	-$300.0K
YoY Change	-140.24%	-40.19%	-189.64%	77.11%	-33.19%	766.25%	-178.43%	-160.36%	96.51%	2766.67%
% of Operating Profit	-16.09%	42.25%	84.63%	-92.24%	-42.99%	-63.93%	-8.69%	17.11%	-47.61%	-60.14%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Pretax Income	$92.28M	$85.64M	$160.4M	$6.800M	$61.30M	$39.10M	$84.20M	$69.80M	$18.70M	$5.600M	-$1.900M
YoY Change	7.76%	-46.59%	2258.13%	-88.91%	56.78%	-53.56%	20.63%	273.26%	233.93%	-394.74%
Income Tax								$0.00	$0.00	$0.00	$0.00
% Of Pretax Income								0.0%	0.0%	0.0%
Net Earnings	$92.28M	$85.64M	$160.4M	$6.800M	$61.30M	$39.10M	$84.20M	$69.80M	$18.70M	$5.600M	-$1.900M
YoY Change	7.76%	-46.59%	2258.13%	-88.91%	56.78%	-53.56%	20.63%	273.26%	233.93%	-394.74%
Net Earnings / Revenue	82.1%	80.89%	93.64%	3.73%	27.7%	18.84%	51.03%	62.88%	27.02%	16.97%	-38.0%
Basic Earnings Per Share	$1.75	$1.58	$2.89	$0.08
Diluted Earnings Per Share	$1.64	$1.49	$2.694M	$120.6K	$1.018M	$625.6K	$1.589M	$1.928M	$754.0K	$427.5K	-$633.3K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Cash & Short-Term Investments	$60.45M	$30.51M	$93.07M	$68.40M	$36.80M	$87.20M	$32.00M	$38.50M	$41.80M	$8.800M	$42.00M
YoY Change	98.15%	-67.22%	36.07%	85.87%	-57.8%	172.5%	-16.88%	-7.89%	375.0%	-79.05%
Cash & Equivalents	$60.45M	$30.51M	$93.07M	$68.40M	$36.80M	$87.20M	$32.00M	$38.50M	$41.80M	$8.800M	$42.00M
Short-Term Investments
Other Short-Term Assets	$6.489M	$5.763M	$1.484M	$800.0K	$300.0K	$100.0K	$100.0K	$0.00	$400.0K	$200.0K	$0.00
YoY Change	12.6%	288.34%	85.5%	166.67%	200.0%	0.0%		-100.0%	100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$100.7M	$61.82M	$114.6M	$92.60M	$59.60M	$108.6M	$50.20M	$64.10M	$47.50M	$13.50M	$43.70M
YoY Change	62.89%	-46.07%	23.78%	55.37%	-45.12%	116.33%	-21.68%	34.95%	251.85%	-69.11%
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$1.842B	$1.980B	$1.914B	$1.826B	$2.124B	$1.972B	$1.968B	$1.423B	$1.053B	$698.7M	$212.8M
YoY Change	-6.97%	3.46%	4.78%	-14.02%	7.7%	0.23%	38.29%	35.16%	50.67%	228.34%
Other Assets			$3.066M	$3.600M	$4.000M	$4.000M	$3.600M	$3.300M	$6.200M	$4.600M	$4.400M
YoY Change			-14.83%	-10.0%	0.0%	11.11%	9.09%	-46.77%	34.78%	4.55%
Total Long-Term Assets	$1.842B	$1.980B	$1.917B	$1.830B	$2.128B	$1.976B	$1.971B	$1.426B	$1.059B	$703.2M	$217.3M
YoY Change	-6.97%	3.29%	4.74%	-14.0%	7.68%	0.25%	38.22%	34.68%	50.58%	223.61%
Total Assets	$1.943B	$2.042B	$2.031B	$1.923B	$2.188B	$2.085B	$2.021B	$1.490B	$1.106B	$716.7M	$261.0M
YoY Change
Accounts Payable	$16.06M	$14.39M	$12.30M	$11.60M	$13.30M	$13.90M	$13.20M	$8.300M	$5.400M	$6.400M	$800.0K
YoY Change	11.58%	17.0%	6.04%	-12.78%	-4.32%	5.3%	59.04%	53.7%	-15.63%	700.0%
Accrued Expenses	$11.20M	$9.957M	$5.195M	$5.000M	$8.200M	$9.300M	$6.900M	$4.800M	$3.500M	$2.000M	$1.200M
YoY Change	12.52%	91.67%	3.9%	-39.02%	-11.83%	34.78%	43.75%	37.14%	75.0%	66.67%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$270.8M	$273.0M	$0.00	$0.00
YoY Change							-100.0%	-0.81%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$49.58M	$47.08M	$38.52M	$37.30M	$53.30M	$60.80M	$60.10M	$304.1M	$300.4M	$70.10M	$8.200M
YoY Change	5.31%	22.21%	3.28%	-30.02%	-12.34%	1.16%	-80.24%	1.23%	328.53%	754.88%
Long-Term Debt	$980.2M	$1.077B	$1.044B	$983.9M	$1.178B	$960.7M	$833.9M	$421.9M	$234.3M	$308.4M	$66.80M
YoY Change	-9.01%	3.18%	6.11%	-16.46%	22.6%	15.21%	97.65%	80.07%	-24.03%	361.68%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$980.2M	$1.077B	$1.044B	$983.9M	$1.178B	$960.7M	$833.9M	$421.9M	$234.3M	$308.4M	$66.80M
YoY Change	-9.01%	3.18%	6.11%	-16.46%	22.6%	15.21%	97.65%	80.07%	-24.03%	361.68%
Total Liabilities	$1.030B	$1.124B	$1.083B	$1.021B	$1.231B	$1.022B	$894.1M	$726.0M	$534.7M	$378.5M	$75.00M
YoY Change	-8.41%	3.85%	6.0%	-17.04%	20.52%	14.25%	23.15%	35.78%	41.27%	404.67%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Basic Shares Outstanding	50.82M shares	52.11M shares	54.24M shares	56.42M shares	60.19M shares	62.53M shares	53.00M shares	36.15M shares	24.83M shares	13.09M shares
Diluted Shares Outstanding	56.31M shares	57.48M shares	59.53M shares	56.42M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $902.56 Million

About Carlyle Secured Lending Inc

Carlyle Secured Lending is an externally managed specialized finance company specializing in providing flexible lending options to middle-market companies primarily in the United States. The company is headquartered in New York City, New York and currently employs 0 full-time employees. The company went IPO on 2017-06-14. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through assembling a portfolio of secured debt investments in United States middle market companies. The firm seeks to achieve its investment objective primarily through direct origination of secured debt instruments, including first lien senior secured loans (which may include stand-alone first lien loans, first lien/last out loans and unitranche loans) and second lien senior secured loans (collectively, Middle Market Senior Loans), with a minority of its assets invested in higher yielding investments (which may include unsecured debt, subordinated debt and investments in equities and structured products). The firm is externally managed by its investment adviser, Carlyle Global Credit Investment Management L.L.C.

Industry: UNKNOWN Peers: Associated Capital Group Inc Diamond Hill Investment Group Inc BlackRock TCP Capital Corp Blackstone Inc. Brightsphere Investment Group Inc Crescent Capital BDC Inc WisdomTree Inc Sculptor Capital Management, Inc. PennantPark Floating Rate Capital Ltd Pzena Investment Management, Inc.