Carlyle Secured Lending, Inc. (CGBD) Stock Price & Analysis
Carlyle Secured Lending, Inc. (CGBD) closed at USD 10.57 on Wednesday, October 28, 2026, up 0.76% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 10.49; the Oct 28, 2026 session ranged USD 10.44–10.58 on volume of 473,767 shares. Market capitalization is $727.26M, with a 52-week range of USD 9.95–13.28 (NMS). Source: Nexqual, retrieved October 29, 2026 at 00:53 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CGBD.md
Key facts (CGBD)
- Valuation: P/E 19.7x (avg 10.9x at the last 3 fiscal year-ends), net debt $1.24B.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $274K; 3 not under a Rule 10b5-1 plan ($274K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.88 on a 1–5 scale) (8 analysts), mean target USD 12.21 (range 10.5–14).
- Total return with dividends: 1Y -6.3% vs S&P 500 +13.2%; 5Y +36.4% vs S&P 500 +79.8%.
- Next earnings: 2026-11-05, EPS estimate USD 0.36, revenue estimate $63.4M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CGBD)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $160M | $85.6M | $92.3M | $89.0M | $70.0M | $37.0M |
| EPS (diluted) | $2.69 | $1.49 | $1.64 | $1.58 | $1.01 | — |
| Cash + short-term investments | $93.1M | $30.5M | $60.4M | $56.6M | $76.5M | — |
| Total debt | $1.04B | $1.08B | $980M | $961M | $1.53B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CGBD)
P/E 19.7x · P/B 0.7x · Earnings yield 5.09% · Dividend yield (paid, TTM) 15.84% · Net debt $1.24B · EV $1.97B
P/E at fiscal year-ends: Dec 2025 12.3x, Dec 2024 11.4x, Dec 2023 9.1x.
Insider sales (SEC Form 4, open-market, last ~7 months) (CGBD)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-12 | Nestor John G. | Director | 16,812 | $188K | 100% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-01 | Nestor John G. | Director | 1,617 | $18K | 37.1% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-15 | Nestor John G. | Director | 6,055 | $68K | 26.2% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CGBD)
Consensus Hold (mean 2.88 on a 1–5 scale), 8 analysts; mean target USD 12.21 (low 10.5, high 14).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Wells Fargo | Downgrade | Overweight → Equal-Weight | $12 → $11 |
Total return (dividends reinvested) (CGBD)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -6.3% | +36.4% |
| S&P 500 (SPY) | +13.2% | +79.8% |
| Per year | -6.4% | +6.4% |
| Volatility (annualized) | 24.1% | 21.9% |
| Max drawdown | -17.3% (Jan 2026→Mar 2026) | -35.0% (Jan 2025→Jul 2026) |
CGBD earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | $0.35 | $0.31 | Beat +12.9% | +7.2% |
| May 11, 2026 | Quarter ended Mar 31, 2026 | $0.36 | $0.35 | Beat +2.9% | -2.3% |
| Feb 24, 2026 | Quarter ended Dec 31, 2025 | $0.33 | $0.37 | Miss −10.8% | +2.4% |
| Nov 4, 2025 | Quarter ended Sep 30, 2025 | $0.37 | $0.39 | Miss −5.1% | -3.9% |
| Aug 5, 2025 | — | — | — | — | -0.8% |
| May 6, 2025 | — | — | — | — | -4.2% |
| Feb 25, 2025 | — | — | — | — | +0.5% |
| Nov 5, 2024 | — | — | — | — | -0.4% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
CGBD recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 16, 2026 | 8-K | Regulation FD disclosure |
| Aug 6, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 6, 2026 | 8-K | Quarterly results; Regulation FD disclosure |
| Jul 15, 2026 | 8-K | Regulation FD disclosure |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
CGBD suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Street Partners and Carlyle Credit Solutions | “•the term "Structured Credit Partners" refers to Structured Credit Partners JV, LLC, the joint venture with Sixth Street Partners and Carlyle Credit Solutions Inc. ("CARS"), in which we own 25% of the voting interests; and” |
| Partner | Sixth Street Specialty Lending, Inc. (TSLX) | “In December 2025, we, together with Carlyle Credit Solutions, Inc. ("CARS"), an affiliated BDC, and certain affiliates of Sixth Street Partners, LLC, Sixth Street Lending Partners and Sixth Street Specialty Lending, Inc. (together, "Sixth Street") (collectively with us and CARS, the "SCP Members"), agreed to co-invest through Structured Credit Partners JV, LLC ("Structured Credit Partners"), a joint venture that w…” |
| Partner | Structured Credit Partners JV | “•the term "Structured Credit Partners" refers to Structured Credit Partners JV, LLC, the joint venture with Sixth Street Partners and Carlyle Credit Solutions Inc. ("CARS"), in which we own 25% of the voting interests; and” |
| Partner | Sixth Street Partners | “•the term "Structured Credit Partners" refers to Structured Credit Partners JV, LLC, the joint venture with Sixth Street Partners and Carlyle Credit Solutions Inc. ("CARS"), in which we own 25% of the voting interests; and” |
| Partner | Cliffwater | “Additionally, in November 2020, we and Cliffwater Corporate Lending Fund ("CCLF"), an investment vehicle managed by Cliffwater LLC, agreed to co-invest through Credit Fund II, a joint venture primarily focused on investing in senior secured loans of middle market companies.” |
| Partner | Sixth Amended and Restated | “•On February 11, 2026, we, together with Credit Partners, entered into a second amendment to the Sixth Amended and Restated Limited Liability Company Agreement.” |
| Partner | Morgan Stanley Capital Services | “In November 2023, in connection with the issuance of the 2028 Notes, we entered into a five-year interest rate swap agreement with Morgan Stanley Capital Services LLC ("Morgan Stanley") to mitigate the exposure to adverse fluctuations in interest rates for a total notional amount of $85.0 million, maturing on December 1, 2028.” |
Quoted from the company's 10-K filed Feb 24, 2026.
Companies that name CGBD in their SEC reports
| Relationship to CGBD | Company | Filing | Sentence |
|---|---|---|---|
| partner | Sixth Street Specialty Lending, Inc. (TSLX) | 10-K Feb 12, 2026 | “SCP will be initially capitalized with $600.0 million of aggregate capital commitments from Sixth Street Specialty Lending, Inc., Sixth Street Lending Partners, Carlyle Secured Lending, Inc. and Carlyle Credit Solutions, Inc., as members of SCP, with all members of SCP having equal voting control.” |
CGBD analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.36 | $0.33 | +10.3% | $63.4M | 8 |
| Next quarter (ends Dec 2026) | $0.36 | $0.34 | +7.2% | $64.0M | 8 |
| Current fiscal year (ends Dec 2026) | $1.43 | $1.34 | +6.5% | $253.2M | 8 |
| Next fiscal year (ends Dec 2027) | $1.45 | $1.40 | +3.9% | $258.9M | 8 |
CGBD options: expected move
Options price a move of about ±6.7% (±$0.70) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±2.7% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 23 | 36.6% | ±6.7% |
| Feb 19, 2027 | 114 | 29.8% | ±13.6% |
| May 21, 2027 | 205 | 28.4% | ±17.2% |
30-day implied volatility 32.6% vs 23.5% realized over the last 30 trading days. Put/call ratio (volume) —. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 29, 2026 at 00:53 UTC)
| Price | USD 10.57 |
|---|---|
| Change | ▲ 0.76% (up) |
| Previous Close | USD 10.49 |
| Open | USD 10.49 |
| Day Range | USD 10.44 – 10.58 |
| 52-Week Range | USD 9.95 – 13.28 |
| Volume | 473,767 shares |
| Market Cap | $727.26M |
| Exchange | NMS |
Technical Analysis (CGBD)
Nexqual's technical model rates CGBD "SELL" based on 1 bullish and 4 bearish signals across 126 daily candles, as of October 29, 2026 at 00:53 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 46.48 (neutral) |
| vs SMA50 | Below (USD 11.03) |
| MACD | -0.21 (negative) |
Analyst Ratings (CGBD)
Wall Street analysts rate CGBD "Hold" based on 8 analysts, with a mean price target of USD 12.21 (range USD 10.5–14), per Nexqual as of October 29, 2026 at 00:53 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 8 |
| Mean Target | USD 12.21 |
| High Target | USD 14 |
| Low Target | USD 10.5 |
| Buy / Hold / Sell | 2 / 5 / 1 |
Earnings (CGBD)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.36 |
| Revenue Estimate | $63.43M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.35 vs est 0.31 ▲ beat |
| 2026-03-31 | USD 0.36 vs est 0.35 ▲ beat |
| 2025-12-31 | USD 0.33 vs est 0.37 ▼ miss |
| 2025-09-30 | USD 0.37 vs est 0.39 ▼ miss |
Source: Nexqual, October 29, 2026 at 00:53 UTC.
Financials & Fundamentals (CGBD)
| Total Revenue | $259.59M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -7.70% |
| Gross Margin | +100.00% |
| Operating Margin | +74.03% |
| Profit Margin | +14.26% |
| ROE | +3.25% |
| Debt / Equity | 1.21 |
| Current Ratio | 1.36 |
| Total Cash | $25.94M |
| Total Debt | $1.30B |
Source: Nexqual, October 29, 2026 at 00:53 UTC.
Financial Health Score (CGBD)
Nexqual rates Carlyle Secured Lending, Inc.'s overall financial health "Mixed" across five dimensions, as of October 29, 2026 at 00:53 UTC.
| Growth | Solid — Revenue +10% YoY (annual) |
|---|---|
| Profitability | Strong — Operating margin 74% |
| Balance Sheet | Mixed — $49M cash and investments vs $1.29B debt (Jun 2026, SEC) |
| Cash Flow | Weak — Operating cash flow -$205M (FY ended Dec 2025, 10-K) |
| Efficiency | Weak — ROE 3%, ROA 1.5% (last 4 quarters, SEC) |
Ownership (CGBD)
| Insider Ownership | +0.35% |
|---|---|
| Institutional Ownership | +41.23% |
| Shares Outstanding | 68.80M |
| Short % of Float | +4.39% |
Source: Nexqual, October 29, 2026 at 00:53 UTC.
Leadership (CGBD)
Carlyle Secured Lending, Inc. is led by Alex Chi, CEO, Head of Direct Lending, Deputy Chief Investment Officer of Carlyle Global Credit & Director, per Nexqual as of October 29, 2026 at 00:53 UTC.
| CEO, Head of Direct Lending, Deputy Chief Investment Officer of Carlyle Global Credit & Director | Alex Chi |
|---|
Major Backers & Investors (CGBD)
Notable institutional backers of Carlyle Secured Lending, Inc. include Creative Planning, Morgan Stanley, Van Eck Associates Corporation, according to Nexqual as of October 29, 2026 at 00:53 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Creative Planning | 4.49% |
| Morgan Stanley | 4.07% |
| Van Eck Associates Corporation | 2.54% |
| UBS Group AG | 2.03% |
| Choreo, LLC | 1.98% |
| VanEck ETF Trust-VanEck BDC Income ETF | 1.79% |
| Invesco | 1.72% |
| Lalia Capital, LLC | 1.35% |
Source: Nexqual, October 29, 2026 at 00:53 UTC.
From Carlyle Secured Lending, Inc.'s Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- Carlyle is a market leading global platform with $477 billion of AUM, an experienced and tenured bench of 770 investment professionals with well-established, long-standing relationships with sponsors, management teams, and industry experts, as of December 31, 2025.
- As of December 31, 2025, the fair value of our investments was approximately $2.5 billion in 165 portfolio companies/investment funds.
- Carlyle Global Credit's key competitive strengths are based on Carlyle's integrated platform – with a breadth of capabilities, scale of capital and depth of expertise – which Carlyle believes allows it to mitigate competition and thereby improve our ability to deliver on the expectations of stockholders.
Partnerships
- On April 29, 2025, the Company's Board of Directors, including a majority of the Independent Directors, approved at an in-person meeting the continuance of the Investment Advisory Agreement with the Investment Adviser for an additional one year term.
- On April 3, 2013, the Administrator entered into a sub-administration agreement with Carlyle Employee Co. (the "Carlyle Sub-Administration Agreement").
Legal & Regulatory Risks (Item 1A, quoted)
- Any failure on our part to maintain our status as a BDC or RIC would reduce our operating flexibility, may hinder our achievement of our investment objective, may limit our investment choices and may subject us to greater regulation.
- Regulations governing our operation as a BDC affect our ability to, and the way in which we will, raise additional capital. As a BDC, the necessity of raising additional capital may expose us to risks, including the typical risks associated with leverage.
- Changes in laws or regulations governing our business or the businesses of our portfolio companies, changes in the interpretation thereof or newly enacted laws or regulations, and any failure by us or our portfolio companies to comply with these laws or regulations may adversely affect our business and the businesses of our portfolio companies.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BXSL | Blackstone Secured Lending Fund | USD 23.2 | ▲ 0.39% |
| PDI | PIMCO Dynamic Income Fund | USD 14.1 | ▲ 0.21% |
| VCTR | Victory Capital Holdings, Inc. | USD 111.87 | ▲ 1.12% |
| AMG | Affiliated Managers Group, Inc. | USD 393.24 | ▲ 0.32% |
| SEIC | SEI Investments Company | USD 103.2 | ▲ 0.31% |
| IVZ | Invesco Ltd | USD 28.68 | ▲ 0.88% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 00:53 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt