Carlyle Secured Lending, Inc. (CGBD) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Carlyle Secured Lending, Inc. (CGBD) trades at $11.33 with AI Score 88/100 (Grade A+). Carlyle Secured Lending, Inc. (CGBD) is a business development company (BDC) that specializes in providing financing to middle-market companies. Market cap: $787M, Sector: Financial services.
Price as of Aug 21, 2026 · Last analyzed: May 7, 2026CGBD stock analysis for 2026: Analysts have set a consensus price target of $15.00 for Carlyle Secured Lending, Inc., suggesting 32.4% upside from the current price of $11.33. The AI MoonshotScore is 88/100, indicating a strong bullish outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
CGBD: 1/3 scored disciplines lean bullish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Why this analysis is different
- A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Carlyle Secured Lending, Inc. (CGBD) Financial Services Profile
Carlyle Secured Lending, Inc. (CGBD) is a business development company focused on providing tailored debt solutions to middle-market companies. With investments spanning healthcare, technology, and business services, CGBD offers investors exposure to a diversified portfolio of income-generating assets within the asset management sector, characterized by a high dividend yield.
What Is the Investment Thesis for CGBD?
Carlyle Secured Lending, Inc. presents a compelling investment case based on its focus on middle-market lending and high dividend yield. With a current dividend yield of 13.79%, CGBD offers investors a significant income stream. The company's diversified portfolio across various sectors mitigates risk, while its focus on senior secured debt provides downside protection. The company's P/E ratio of 7.4 suggests a reasonable valuation compared to its earnings. Upcoming catalysts include potential interest rate hikes, which could increase the yield on CGBD's loan portfolio. Ongoing growth opportunities in the middle-market lending space, driven by increased demand for alternative financing solutions, could further boost CGBD's performance. However, potential risks include increased competition in the BDC sector and potential credit losses from its loan portfolio. Investors should monitor CGBD's asset quality and its ability to maintain its dividend payout in the face of economic uncertainty.
Based on FMP financials and quantitative analysis
CGBD Key Highlights
Market capitalization of $787M indicates a sizable presence in the asset management industry.
- P/E ratio of 7.4 suggests a potentially reasonable valuation relative to earnings.
- Profit margin of 35.4% demonstrates strong profitability in its lending operations.
- Gross margin of 70.9% indicates efficient management of interest income and expenses.
- Dividend yield of 13.79% provides a substantial income stream for investors.
Who Are CGBD's Competitors?
CGBD is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ARCC Ares Capital Corporation | $19.78 | -0.10% | $14.2B | 80 |
| BXSL Blackstone Secured Lending Fund | $24.59 | +0.10% | $5.72B | 57 |
| MAIN Main Street Capital Corporation | $58.25 | +0.14% | $5.42B | 66 |
| BCSF Bain Capital Specialty Finance, Inc. | $12.04 | -0.37% | $781M | 73 |
| ACGP Associated Capital Group, Inc. | $33.45 | -0.06% | $698M | 67 |
| SLRC SLR Investment Corp. | $12.58 | -1.18% | $686M | 91 |
| MUC BlackRock MuniHoldings California Quality Fund, Inc. | $10.60 | -0.75% | $998M | 67 |
| NCDL Nuveen Churchill Direct Lending Corp. | $12.35 | +0.00% | $610M | 86 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are CGBD's Key Strengths?
High dividend yield provides attractive income stream for investors.
- Diversified investment portfolio mitigates risk.
- Experienced management team with expertise in middle-market lending.
- Strong relationships with borrowers and financial intermediaries.
What Are CGBD's Weaknesses?
External management structure may create conflicts of interest.
- Reliance on debt financing increases financial leverage.
- Exposure to credit risk from its loan portfolio.
- Sensitivity to interest rate fluctuations.
What Could Drive CGBD Stock Higher?
Potential interest rate hikes could increase the yield on CGBD's loan portfolio.
- Continued growth in the middle-market lending space.
- Strategic partnerships with other financial institutions.
- Increased investment in high-growth sectors.
What Are the Key Risks for CGBD?
Financial-distress signal — its Altman Z-Score of 0.43 sits in the distress zone (elevated bankruptcy risk).
- Increased competition in the BDC sector.
- Economic downturn could lead to credit losses.
- Regulatory changes may impact the BDC sector.
- Rising interest rates could increase borrowing costs for portfolio companies.
What Are the Growth Opportunities for CGBD?
- Expansion of Middle-Market Lending: The middle-market lending space presents a significant growth opportunity for CGBD. As traditional banks tighten lending standards, middle-market companies increasingly seek alternative financing solutions from BDCs like CGBD. The middle market represents a multi-billion dollar opportunity, and CGBD's expertise in structuring and managing debt investments positions it to capture a larger share of this market. Timeline: Ongoing.
- Strategic Partnerships: Forming strategic partnerships with other financial institutions and private equity firms can expand CGBD's reach and access to deal flow. Collaborating with partners can provide CGBD with access to a broader network of potential borrowers and investment opportunities. These partnerships can also enhance CGBD's ability to provide comprehensive financing solutions to middle-market companies. Timeline: Ongoing.
- Increased Investment in High-Growth Sectors: Increasing investments in high-growth sectors such as technology and healthcare can drive portfolio growth and enhance returns. These sectors often require specialized financing solutions, which CGBD is well-positioned to provide. By focusing on companies with strong growth potential, CGBD can generate attractive returns for its shareholders. Timeline: Ongoing.
- Leveraging Technology and Data Analytics: Implementing advanced technology and data analytics can improve CGBD's ability to source, evaluate, and manage investments. Utilizing data analytics can enhance risk management and improve portfolio performance. Investing in technology can also streamline operations and reduce costs, further improving CGBD's profitability. Timeline: Ongoing.
- Geographic Expansion: Expanding its geographic footprint beyond the United States can provide CGBD with access to new investment opportunities and diversify its portfolio. Investing in international markets can also reduce CGBD's reliance on the U.S. economy and mitigate risk. CGBD's existing presence in Luxembourg, Cayman Islands, Cyprus, and the United Kingdom provides a foundation for further international expansion. Timeline: Ongoing.
What Are CGBD's Competitive Advantages?
- Expertise in middle-market lending.
- Diversified investment portfolio across various industries.
- Strong relationships with borrowers and financial intermediaries.
- Experienced management team with a proven track record.
What Does CGBD Do?
Carlyle Secured Lending, Inc., formerly known as TCG BDC, Inc., is a business development company (BDC) that specializes in providing financing solutions to middle-market companies. The company's investment strategy focuses on directly investing in first lien debt, senior secured loans, second lien senior secured loans, unsecured debt, mezzanine debt, and equities. CGBD targets companies with EBITDA between $25 million and $100 million, primarily operating in the United States, Luxembourg, Cayman Islands, Cyprus, and the United Kingdom. Carlyle Secured Lending's investment portfolio spans a diverse range of industries, including healthcare and pharmaceuticals, aerospace and defense, high-tech industries, business services, software, beverage, food and tobacco, hotel, gaming and leisure, banking, finance, insurance, and real estate. This diversification aims to mitigate risk and capitalize on opportunities across different sectors. The company's focus on middle-market companies allows it to provide customized financing solutions that may not be readily available from traditional lenders. By directly investing in these companies, CGBD seeks to generate attractive returns for its shareholders through a combination of current income and capital appreciation. CGBD operates as an externally managed BDC, leveraging the expertise and resources of its investment adviser to source, evaluate, and manage its investments. The company's investment objective is to generate current income and, to a lesser extent, capital appreciation through its debt and equity investments. Carlyle Secured Lending's approach involves a rigorous due diligence process and ongoing monitoring of its portfolio companies to ensure the quality and performance of its investments. The company's ability to navigate complex market conditions and identify attractive investment opportunities is critical to its long-term success.
What Products and Services Does CGBD Offer?
- Provides first lien debt financing to middle-market companies.
- Offers senior secured loans to businesses across various industries.
- Invests in second lien senior secured loans.
- Provides unsecured debt financing.
- Invests in mezzanine debt.
- Makes equity investments in select companies.
- Targets companies with EBITDA between $25 million and $100 million.
How Does CGBD Make Money?
- Generates income from interest payments on its debt investments.
- Realizes capital gains from the sale of equity investments.
- Externally managed by an investment advisor who sources and manages investments.
- Distributes a significant portion of its earnings to shareholders through dividends.
What Industry Does CGBD Operate In?
Carlyle Secured Lending operates within the asset management industry, specifically focusing on business development companies (BDCs). The BDC sector has experienced growth in recent years as middle-market companies seek alternative financing solutions beyond traditional banks. The competitive landscape includes other BDCs and private credit funds. CGBD's focus on senior secured debt and diversified industry exposure positions it to capitalize on the growing demand for middle-market lending. Market trends include increasing interest rates, which can positively impact the yield on BDC loan portfolios, and regulatory changes that may affect the BDC sector.
Who Are CGBD's Key Customers?
- Middle-market companies seeking debt financing.
- Companies in healthcare and pharmaceutical industries.
- Businesses in aerospace and defense sectors.
- Companies in high-tech industries.
Company Profile
Carlyle Secured Lending, Inc. operates in the Asset Management industry within the Financial Services sector. It is headquartered in New York City, US. The company is led by CEO Alex Chi. CGBD has traded publicly since 2017.
Key Financial Metrics
Return on equity for Carlyle Secured Lending, Inc. stands at 4.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 4.8%, showing how much profit it generates from its asset base. CGBD trades at a trailing price-to-earnings ratio of 7.41, below the Financial Services sector average of ~18x. Its free cash flow yield is 0.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 4.97 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 0.0%, the inverse of the P/E and a quick read on earnings relative to price.
CGBD Valuation & Market Position
With a $787M market cap, Carlyle Secured Lending, Inc. sits in the small-cap segment of the market. Relative to its peer group, CGBD's quantitative score of 88/100 is above the peer average of 69/100.
Quarterly Financial Performance: Carlyle Secured Lending, Inc.
Revenue for Carlyle Secured Lending, Inc. came in at $60.3M during Q2 2026, a 10.4% improvement versus the preceding quarter. The company recorded a net loss of $60K, with diluted EPS of $-0.00. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Financial Services. Across the four most recent quarters, CGBD averaged $0.13 in diluted EPS.
Financial Health
Carlyle Secured Lending, Inc.'s Piotroski F-Score is 8/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 0.43 places it in the distress zone, a signal of elevated financial risk.
Earnings Track Record
Carlyle Secured Lending, Inc. has beaten Wall Street's EPS estimate in 4 of its last 8 reported quarters — more hits than misses.
Forward Outlook
Wall Street analysts project Carlyle Secured Lending, Inc. revenue of about $250.5M for fiscal 2026, with EPS near $1.38. The estimate reflects 4 contributing analysts.
CGBD Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- CGBD insiders have been showing increased confidence lately, which often signals positive expectations for the company's near-term performance.
- The general buzz in trading circles suggests a growing belief in CGBD's ability to navigate the current economic climate effectively.
- Many see CGBD as a stable income play, especially with the current interest rate environment favoring lenders. It's perceived as a relatively safe harbor.
- There's a feeling that CGBD's management is making smart moves to optimize their portfolio for long-term growth and stability.
Bear Case
- Some worry that CGBD's exposure to certain sectors could become problematic if economic conditions worsen in the coming months.
- The overall market sentiment seems cautious, with many traders anticipating potential headwinds that could impact even relatively stable companies like CGBD.
- Concerns are surfacing about the sustainability of high dividend yields in the face of potential economic slowdown.
- A segment of the trading community believes that CGBD might face increased competition, potentially squeezing margins and impacting future profitability.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $60M | -$60,000 | -$0.0008 |
| Q1 2026 | $55M | -$4M | -$0.06 |
| Q4 2025 | $75M | $17M | $0.24 |
| Q3 2025 | $49M | $24M | $0.33 |
Based on FMP financials and quantitative analysis
CGBD Latest News
-
Carlyle Secured Lending: Major Revaluation Opportunity
seekingalpha.com · Jun 26, 2026
-
Earnings Scheduled For May 6, 2025
benzinga · May 6, 2025
-
Stocks That Hit 52-Week Lows On Thursday
benzinga · Sep 29, 2022
CGBD Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for CGBD.
Price Targets
Consensus target: $15.00
CGBD MoonshotScore
What does this score mean?
The MoonshotScore rates CGBD 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Leadership: Alex Chi
CEO
Alex Chi serves as the CEO of Carlyle Secured Lending, Inc. He brings extensive experience in credit and investment management. His background includes leadership roles at prominent financial institutions, where he focused on direct lending, leveraged finance, and special situations investments. He has a proven track record of building and managing high-performing investment teams and generating attractive returns for investors. His expertise spans various industries and asset classes, making him well-suited to lead CGBD.
Track Record: Under Alex Chi's leadership, Carlyle Secured Lending has focused on strategic portfolio diversification and disciplined credit underwriting. Key achievements include maintaining a high dividend yield and navigating volatile market conditions. He has overseen the expansion of CGBD's investment portfolio and the implementation of enhanced risk management practices. His tenure has been marked by a commitment to delivering consistent returns for shareholders.
Common Questions About CGBD (Financial Services)
What does the AI Score mean for CGBD?
CGBD holds an AI Score of 88/100 (Grade: A+). This is an educational research signal, not a buy or sell recommendation. Carlyle Secured Lending, Inc. (CGBD) is a business development company (BDC) that specializes in providing financing to middle-market companies. The company focuses on first lien debt, senior …
What does Carlyle Secured Lending, Inc. do?
Carlyle Secured Lending, Inc. (CGBD) operates as a business development company (BDC), specializing in providing financing solutions to middle-market companies. The company's primary focus is on directly investing in first lien debt, senior secured loans, and mezzanine debt. CGBD targets companies with EBITDA between $25 million and $100 million across various industries, including healthcare, technology, and business services.
What do analysts say about CGBD stock?
Analyst consensus on Carlyle Secured Lending, Inc. (CGBD) typically focuses on its dividend yield, asset quality, and management's ability to navigate market conditions. Key valuation metrics include its P/E ratio and net asset value (NAV). Growth considerations revolve around CGBD's ability to deploy capital effectively and maintain its dividend payout.
What are the main risks for CGBD?
The main risks for Carlyle Secured Lending, Inc. (CGBD) include credit risk associated with its loan portfolio, interest rate risk, and regulatory risk. Credit risk arises from the possibility that borrowers may default on their loans, leading to losses for CGBD.
How sensitive is CGBD to interest rate changes?
Carlyle Secured Lending, Inc.'s net interest margin is sensitive to interest rate changes. As a BDC, CGBD's profitability is affected by the spread between the interest it earns on its loan portfolio and the interest it pays on its borrowings. Rising interest rates can increase the yield on CGBD's floating-rate loans, boosting its net interest income.
How does CGBD manage credit risk in its loan portfolio?
Carlyle Secured Lending, Inc. manages credit risk in its loan portfolio through a rigorous due diligence process, ongoing monitoring of its portfolio companies, and diversification across various industries. The company's due diligence process involves a thorough assessment of each borrower's financial condition, business prospects, and management team.
What are the key factors to evaluate for CGBD?
Carlyle Secured Lending, Inc. (CGBD) holds an AI score of 88/100 (high). P/E: 7.4x vs the S&P 500's ~20-25x. Analysts target $15.00 (+32%). Not financial advice.
How frequently does CGBD data refresh on this page?
CGBD's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven CGBD's recent stock price performance?
Carlyle Secured Lending, Inc. (CGBD) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: High dividend yield provides attractive income stream for investors. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available financial data and company descriptions.
- Future performance is subject to market conditions and company-specific factors.