Carlyle Secured Lending (CGBD) Operating Margin (2021 - 2026)

Carlyle Secured Lending's Operating Margin history runs 6 years deep, the most recent figure standing at 40.02% for Q1 2026.

• In Q1 2026, Operating Margin fell 63.0% year-over-year to 40.02%; the TTM figure through Mar 2026 stood at 40.03% (down 478.0% YoY), while the FY2025 annual figure was 40.17%, down 626.0% from the prior year.
• Operating Margin came in at 40.02% for Q1 2026 at Carlyle Secured Lending, up from 36.43% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 54.46% in Q1 2022 to a low of 36.43% in Q4 2025.
• A 5-year average of 45.69% and a median of 46.32% in 2023 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin surged 259 bps in 2022 and sank 833 bps in 2025, its largest moves.
• Carlyle Secured Lending's Operating Margin stood at 47.03% in 2022, then advanced by 0 bps to 47.1% in 2023, then slipped by 5 bps to 44.77% in 2024, then slipped by 19 bps to 36.43% in 2025, then rose by 10 bps to 40.02% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 40.02%, 36.43%, and 41.11% for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison