WallStSmart

The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 (CGABL)vsValero Energy Corporation (VLO)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

VLO leads profitability with a 2.0% profit margin vs 0.0%. VLO earns a higher WallStSmart Score of 51/100 (C-).

CGABL

Avoid

30

out of 100

Grade: F

Growth: 4.0Profit: 5.5Value: 5.0Quality: 5.0

VLO

Buy

51

out of 100

Grade: C-

Growth: 4.7Profit: 5.5Value: 4.0Quality: 7.0
Piotroski: 6/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for CGABL.

VLOUndervalued (+8.2%)

Margin of Safety

+8.2%

Fair Value

$222.10

Current Price

$252.58

$30.48 discount

UndervaluedFair: $222.10Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CGABL1 strengths · Avg: 10.0/10
Return on EquityProfitability
68.7%10/10

Every $100 of equity generates 69 in profit

VLO3 strengths · Avg: 9.0/10
EPS GrowthGrowth
317.9%10/10

Earnings expanding 317.9% YoY

Market CapQuality
$75.15B9/10

Large-cap with strong market position

Free Cash FlowQuality
$1.81B8/10

Generating 1.8B in free cash flow

Areas to Watch

CGABL4 concerns · Avg: 3.5/10
Revenue GrowthGrowth
0.0%4/10

0.0% revenue growth

EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Profit MarginProfitability
0.0%3/10

0.0% margin — thin

Operating MarginProfitability
0.0%3/10

Operating margin of 0.0%

VLO4 concerns · Avg: 2.8/10
P/E RatioValuation
33.2x4/10

Premium valuation, high expectations priced in

Profit MarginProfitability
2.0%3/10

2.0% margin — thin

PEG RatioValuation
4.082/10

Expensive relative to growth rate

Revenue GrowthGrowth
-2.1%2/10

Revenue declined 2.1%

Comparative Analysis Report

WallStSmart Research

Bull Case : CGABL

The strongest argument for CGABL centers on Return on Equity.

Bull Case : VLO

The strongest argument for VLO centers on EPS Growth, Market Cap, Free Cash Flow.

Bear Case : CGABL

The primary concerns for CGABL are Revenue Growth, EPS Growth, Profit Margin.

Bear Case : VLO

The primary concerns for VLO are P/E Ratio, Profit Margin, PEG Ratio. Thin 2.0% margins leave little buffer for downturns.

Key Dynamics to Monitor

CGABL is growing revenue faster at 0.0% — sustainability is the question.

VLO generates stronger free cash flow (1.8B), providing more financial flexibility.

Monitor NONE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

VLO scores higher overall (51/100 vs 30/100). Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

The Carlyle Group Inc. 4.625% Subordinated Notes due 2061

NONE · NONE · USA

The Carlyle Group Inc. 4.625% Subordinated Notes due 2061 present a compelling fixed-income investment opportunity from one of the world's leading investment firms, renowned for its expertise across private equity, credit, and real assets. Offering a competitive yield, these subordinated notes allow institutional investors to leverage Carlyle's strong market position and commitment to strategic growth and operational efficiency. As the firm continues to expand its global footprint and enhance its portfolio management capabilities, these notes are well-positioned to provide a stable source of long-term income within a resilient and diversified capital structure.

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Valero Energy Corporation

ENERGY · OIL & GAS REFINING & MARKETING · USA

Valero Energy Corporation is a Fortune 500 international manufacturer and marketer of transportation fuels, other petrochemical products, and power. It is headquartered in San Antonio, Texas, United States.

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