Carlyle Group Inc. (CG)

Investment Advice

Latest Price

$41.82

TTM P/E

43.56

Normalized P/E

21.21

Div Yield

3.35%

Book Value

20.12

P/B Ratio

2.08

Valuation metrics

EPS: $2.18

Book value / share: $19.75

Formula: √(22.5 × EPS × BVPS)

Graham Number

$31.12

26% downside

Norm. op. income: $1.3B (median of 7yr)

Tax rate: 20%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$34.92

16% downside

Base FCF: $944M (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$50.55

+21% upside

EPS: $2.18

Target P/E: 21×

Formula: EPS × P/E

P/E Fair Value

$45.78

+9% upside

66.1% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	31.98M	$1.35B	9.05%	+959.6K	2026-06-30
HARRIS ASSOCIATES L P	17.66M	$743.0M	5.00%	+1.08M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	11.83M	$498.0M	3.35%	+10.6K	2026-06-30
Capital World Investors	11.81M	$497.0M	3.34%	-6.01M	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	11.46M	$482.0M	3.24%	+70.8K	2026-06-30
MILLENNIUM MANAGEMENT LLC	10.39M	$437.0M	2.94%	+2.14M	2026-06-30
MORGAN STANLEY	9.99M	$420.0M	2.83%	-179.0K	2026-06-30
STATE STREET CORP	9.89M	$416.0M	2.80%	+211.1K	2026-06-30
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	7.74M	$328.0M	2.19%	+90.5K	2026-06-30
ALKEON CAPITAL MANAGEMENT LLC	5.94M	$250.0M	1.68%	--	2026-06-30