Stock fact sheet · data as of
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL): fair value, margin of safety and Wheel Score
Ticker symbol CGABL · Financial Services · Asset Management · United States · Fund / Note
Is CGABL undervalued?
At 15.40 (close of 5 Nov 2026), CGABL trades within a few percent of the GLS average fair value of 15.02 (2.6% above fair value). 7 models produced a value and they split 4 above the price to 3 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.
There is a wide gap between Lynch (1.47) and DCF (30.11). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
CGABL looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
Nine valuation models for CGABL
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 30.11 | +96% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 21.48 | +39% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 5.91 | -62% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 1.47 | -90% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 21.48 | +39% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 20.60 | +34% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 4.07 | -74% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -52.45 | -441% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. There is no GLS Moat score for CGABL: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
Returns on capital are thin or negative - ROIC 4.1%, ROE 14.0%, ROA 2.8% - with debt at 2.41 times equity and negative free cash flow. Debt of 2.41 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is 3.27% at a payout ratio of 104%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Fund Management Fee 60%, Performance Allocations 24%, Incentive Fee 9% (quarter Q2 FY2026).
Institutional ownership scores 5/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 4.1% |
|---|---|---|---|
| GLS Moat | - / 10 | ROE | 14.0% |
| Debt / equity | 2.41 | ROA | 2.8% |
| Free-cash-flow yield | -13.1% | Payout ratio | 104% |
| Institutions | 5 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 14: No options
No options are listed on The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 14, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 26k shares a day on a market cap of $5.5B, with a beta of 0.79 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Fails | trades 3% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 3% above fair value | |
| Premium | Weak | no option data | |
| Moat | Weak | no moat score | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Good | beta 0.79, $5.5B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for CGABL in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| MGR Affiliated Managers Group, Inc. | 18.86 | 188.27 | +90% | 36No options | $5.6B |
| BXSL Blackstone Secured Lending Fund | 23.92 | 56.37 | +58% | 35Weak | $5.6B |
| MAIN Main Street Capital Corporation | 57.62 | 94.56 | +39% | 34Weak | $5.4B |
| FIVLX Fidelity International Value Fund | 15.27 | 5.61 | -172% | 12No options | $5.4B |
| EADOX Eaton Vance Emerging Markets Debt Opportunities - Class A | 8.49 | 7.36 | -15% | 10No options | $5.7B |
| TILHX Nuveen Large Cap Growth Fund I | 28.90 | 23.10 | -25% | 12No options | $5.4B |
| OBDC Blue Owl Capital Corporation | 10.76 | 34.88 | +69% | 84Good | $5.3B |
| VNYTX Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 10.57 | 5.96 | -77% | 12No options | $5.7B |
| HLNE Hamilton Lane Incorporated | 94.99 | 143.57 | +34% | 54Fair | $5.3B |
| JANIX Janus Henderson Triton Fund Class D | 28.81 | 45.34 | +36% | 30No options | $5.3B |
| HASI HA Sustainable Infrastructure Capital, Inc. | 40.38 | 27.99 | -44% | 35Weak | $5.2B |
| STEP StepStone Group Inc. | 46.40 | 22.22 | -109% | 27Weak | $6.0B |
⚖ Compare CGABL with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about CGABL
Is CGABL undervalued right now?
Not meaningfully: at 15.40 the stock trades within a few percent of the GLS average fair value of 15.02 (2.6% above fair value, data as of 5 Nov 2026).
What is the Wheel Score of CGABL and what does it mean?
CGABL has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for CGABL?
15.02 per share as of 5 Nov 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 report earnings next?
No upcoming earnings date is recorded for CGABL in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does CGABL have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on CGABL, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.