` Comparison: CG vs BLK - Alpha Spread

CG
vs
BLK

Over the past 12 months, CG has underperformed BLK, delivering a return of +9% compared to the BLK's +12% growth.

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CG
BLK
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Valuation Comparison

CG Intrinsic Value
55.526 USD
Undervaluation 2%
Intrinsic Value
Price
BLK Intrinsic Value
861.92 USD
Overvaluation 21%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Carlyle Group Inc
NASDAQ:CG
54.515 USD
BlackRock Inc
NYSE:BLK
1 089.72 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
CG, BLK

Revenue
www.alphaspread.com
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Carlyle Group Inc
Revenue
BlackRock Inc
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
CG, BLK

Free Cash Flow
www.alphaspread.com
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Carlyle Group Inc
NASDAQ:CG
BlackRock Inc
NYSE:BLK
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What is Free Cash Flow?

Gross Margin

CG
64.8%
BLK
81.6%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

Operating Margin

CG
21.8%
BLK
29.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

Net Margin

CG
16.9%
BLK
22.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

FCF Margin

CG
-52.7%
BLK
16.2%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

ROE

CG
12.8%
BLK
10.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

ROA

CG
3.1%
BLK
3.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

ROIC

CG
3.7%
BLK
4.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

ROCE

CG
5.5%
BLK
5%
LTM 3Y Avg 5Y Avg 10Y Avg
Carlyle Group Inc
BlackRock Inc

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
CG, BLK

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Performance Gap
CG, BLK

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CG
BLK
Difference
www.alphaspread.com

Performance By Year
CG, BLK

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BK
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett