Carlyle Group vs Invesco
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KIRAβs take AI analyst
I put Carlyle Group and Invesco side by side, using each oneβs latest annual report. Here is what stands out:
- Invesco is the larger business, with $6.4B of revenue in fiscal 2025 against $4.8B for Carlyle Group.
- Invesco grew revenue faster (5.1%, against β11.9%).
- Invesco turned more of its sales into free cash flow (22.6% FCF margin, against β70.6%).
- Carlyle Group earned a higher return on the capital invested in it (13.7%, against β3.8%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Carlyle Group
CG
4/7
5-year growthNet marginReturn on capitalReturn on equity
Invesco
IVZ
3/7
Revenue growthFCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | CG FY25 | IVZ FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.2B | $13.0B |
| Revenue | $4.8B | $6.4B |
| Free cash flow | β$3.4B | $1.4B |
| Net income | $809M | β$726M |
| Growth | ||
| Revenue growth | β11.9% | 5.1% |
| 5-year growth | 10.3% | 0.7% |
| Share count change | 0.8% | β0.6% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β10.9% |
| Net margin | 16.9% | β11.4% |
| FCF margin | β70.6% | 22.6% |
| Return on capital | 13.7% | β3.8% |
| Return on equity | 12.1% | β5.4% |
| Balance sheet | ||
| Net debt | $1.0B | $788M |
| Net debt / EBITDA | 0.7x | β |
| Dividends and buybacks | $1.2B | $501M |
| Valuation & quality | ||
| P/E | 40.4x | β |
| Piotroski F-score | β | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.