Carlyle Secured Lending, Inc. (CGBD)
Financial Services · NMS
Fundamentals
Valuation and ratings
Carlyle Secured Lending, Inc. trades at USD10.36, which is 122% below the USD22.99 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 59 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 14.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
CGBD dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.750 | 2 |
| 2025 | USD1.65 | 4 |
| 2024 | USD1.87 | 4 |
| 2023 | USD1.76 | 4 |
| 2022 | USD1.64 | 4 |
| 2021 | USD1.50 | 4 |
| 2020 | USD1.47 | 4 |
| 2019 | USD1.74 | 4 |
| 2018 | USD1.68 | 4 |
| 2017 | USD1.23 | 3 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
CGBD earnings and analyst estimates
Recommendation mix, 7 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Carlyle Secured Lending, Inc.
Carlyle Secured Lending, Inc. is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector. The fund seeks to invest across United States of America, Luxembourg, Cayman Islands, Cyprus, and United Kingdom. It invests in companies with EBITDA between $25 million and $100 million.
CGBD passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
4 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Two Sigma, TWO SIGMA INVESTMENTS, LP$6.90M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$1.96M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$450.6K · 0.0% of book
- Ken Fisher, Fisher Asset Management, LLC$250.9K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Carlyle Secured Lending, Inc. (CGBD) undervalued?
Against our discounted cash flow estimate of USD22.99, CGBD at USD10.36 is 122% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own CGBD?
4 of the institutions we track reported a position in CGBD in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is CGBD's P/E ratio?
CGBD trades at 14.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Carlyle Secured Lending, Inc. (CGBD) pay a dividend?
Yes. Carlyle Secured Lending, Inc. yields 14.82% at the current share price. It has paid USD1.55 per share over the trailing twelve months. It has paid a dividend in each of the last 9 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does CGBD report earnings next?
Carlyle Secured Lending, Inc. is scheduled to report on 6 Aug 2026. Companies move earnings dates, so read it as scheduled rather than certain.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.