Industry n/a · SIC —
Carlyle Secured Lending, Inc.
CGBD
Business Development Company (Carlyle) — investment-company accounting; high margins are structural, not exceptional.
Latest revenue
$25.6M
as of 2026-03-31
Latest net income
$-4.2M
as of 2026-03-31
Net margin
-16.4%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within industry (4096 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 6, 2026.
Fair value · DCF
DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.
Community sentiment
Where do you think CGBD is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $739.1M
- Enterprise value
- $2.54B
- P/E (trailing)
- 10.6×
- Forward P/E
- —
- P/B
- 0.66×
- Dividend yield
- 18.3%
- 52-wk high
- $14.49
- 52-wk low
- $10.50
- Beta
- —
- Shares out
- 69.5M
5-year trend
What this company does
Item 1. Business Carlyle Secured Lending, Inc., a Maryland corporation, is a specialty finance company that is a closed-end, externally managed, non-diversified management investment company. We have elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “Investment Company Act” or the “1940 Act”). For U.S. federal income tax purposes, we have elected to be treated as a RIC under Subchapter M of the Code. We were formed in February 2012, commenced investment operations in May 2013 and began trading on the Nasdaq Global Select Market, under the symbol “CGBD,” upon completion of our initial…
AI summary unavailable — showing raw filing excerpt
Generated from CGBD's filing dated 2026-02-24
Key risks
Table of Contents Risk Factors An investment in the Company involves a high degree of risk. You should carefully consider these risk factors, together with all of the other information included in this report, before you decide whether to make an investment in the Company. There can be no assurance that the Company’s investment objective will be achieved or that an investor will receive a return of its capital. In addition, there will be occasions when the Investment Adviser and its affiliates may encounter potential conflicts of interest in connection with the Company. The risks set out below are not the only risks we face. Additional risks and uncertainties not currently known to us or…
AI summary unavailable — showing raw filing excerpt
Generated from CGBD's filing dated 2026-02-24
Profitability
Net margin
68.2%
17.3%Return on equity
6.0%
39.0%Return on assets
2.5%
49.2%Leverage
Debt / equity
1.39×
40.1%Long-term debt / equity
1.31×
23.6%Debt / assets
58.2%
16.8%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $25.6M | +15.0% | $-4.2M | -130.0% | -16.4% |
Q4 2025 2025-12-31 | $24.4M | -3.4% | $17.4M | -18.6% | 71.3% |
Q3 2025 2025-09-30 | $27.3M | +6.7% | $23.9M | +21.9% | 87.4% |
Q2 2025 2025-06-30 | $28.6M | +2.8% | $14.6M | -22.0% | 51.1% |
Q1 2025 2025-03-31 | $22.3M | -23.8% | $14.1M | -52.0% | 63.0% |
Q4 2024 2024-12-31 | $25.2M | — | $21.4M | — | 84.7% |
Q3 2024 2024-09-30 | $25.6M | -8.3% | $19.6M | -34.6% | 76.5% |
Q2 2024 2024-06-30 | $27.9M | +0.1% | $18.7M | +297.8% | 67.3% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Industry · SIC —
Your notes
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Insider activity
Insider buying
$368.7K
Insider selling
$380.3K
Net activity
−$11.6K
Distinct insiders
5
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns CGBD
Institutional value
$168.8M
Total shares held
15.8M
Distinct holders
102
-48 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | Creative Planning | 3.2M | $35.4M | -234.0K (-6.8%) | Trimmed |
| 2 | CHOREO, LLC | 1.4M | $15.7M | +3.1K (+0.2%) | Added |
| 3 | Invesco Ltd. | 1.3M | $14.3M | +423.2K (+47.7%) | Added |
| 4 | UBS Group AG | 1.2M | $13.5M | +374.3K (+43.4%) | Added |
| 5 | Muzinich & Co., Inc. | 737.7K | $8.1M | +1.3K (+0.2%) | Added |
| 6 | Russell Investments Group, Ltd. | 587.2K | $6.4M | +384.5K (+189.8%) | Added |
| 7 | Legal & General Group Plc | 551.6K | $6.0M | +32.7K (+6.3%) | Added |
| 8 | Mariner, LLC | 548.5K | $6.0M | +4.6K (+0.9%) | Added |
| 9 | Sumitomo Mitsui Trust Group, Inc. | 519.7K | $5.7M | +0 (+0.0%) | No change |
| 10 | CF Capital LLC | 387.5K | $4.2M | -524.7K (-57.5%) | Trimmed |
| 11 | BlackRock, Inc. | 283.5K | $3.1M | -210.7K (-42.6%) | Trimmed |
| 12 | NOVARE CAPITAL MANAGEMENT LLC | 251.4K | $2.8M | +10.3K (+4.3%) | Added |
| 13 | Cliffwater LLC | 207.3K | $2.3M | +0 (+0.0%) | No change |
| 14 | HAGER INVESTMENT MANAGEMENT SERVICES, LLC | 200.5K | $2.2M | -23.7K (-10.6%) | Trimmed |
| 15 | WELLS FARGO & COMPANY/MN | 199.2K | $2.2M | -70.6K (-26.2%) | Trimmed |
| 16 | HighTower Advisors, LLC | 196.7K | $2.2M | +126.5K (+180.3%) | Added |
| 17 | SRS Capital Advisors, Inc. | 190.3K | $2.1M | +155.4K (+444.8%) | Added |
| 18 | WCG Wealth Advisors LLC | 186.7K | $2.0M | +39.5K (+26.9%) | Added |
| 19 | GFS Advisors, LLC | 40.6K | $2.0M | -9.1K (-18.3%) | Trimmed |
| 20 | Significant Wealth Partners LLC | 162.3K | $1.8M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
Coming once CGBD's latest filing finishes processing.
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