WallStSmart

Carlyle Secured Lending Inc (CGBD)vsKKR & Co LP (KKR)

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Smart Verdict

WallStSmart Research — data-driven comparison

KKR & Co LP generates 9937% more annual revenue ($25.65B vs $255.57M). CGBD leads profitability with a 27.4% profit margin vs 9.2%. KKR appears more attractively valued with a PEG of 0.39. KKR earns a higher WallStSmart Score of 65/100 (C+).

CGBD

Buy

59

out of 100

Grade: C

Growth: 6.0Profit: 7.5Value: 4.7Quality: 6.5
Piotroski: 4/9Altman Z: 0.83

KKR

Buy

65

out of 100

Grade: C+

Growth: 7.3Profit: 6.5Value: 7.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

CGBDSignificantly Overvalued (-77.2%)

Margin of Safety

-77.2%

Fair Value

$6.87

Current Price

$11.21

$4.34 premium

UndervaluedFair: $6.87Overvalued
KKRSignificantly Overvalued (-560.3%)

Margin of Safety

-560.3%

Fair Value

$15.91

Current Price

$88.91

$73.00 premium

UndervaluedFair: $15.91Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CGBD5 strengths · Avg: 9.4/10
P/E RatioValuation
10.9x10/10

Attractively priced relative to earnings

Price/BookValuation
0.7x10/10

Reasonable price relative to book value

Operating MarginProfitability
74.5%10/10

Strong operational efficiency at 74.5%

Profit MarginProfitability
27.4%9/10

Keeps 27 of every $100 in revenue as profit

Revenue GrowthGrowth
18.7%8/10

18.7% revenue growth

KKR6 strengths · Avg: 9.2/10
PEG RatioValuation
0.3910/10

Growing faster than its price suggests

Operating MarginProfitability
33.0%10/10

Strong operational efficiency at 33.0%

Revenue GrowthGrowth
76.3%10/10

Revenue surging 76.3% year-over-year

Market CapQuality
$84.19B9/10

Large-cap with strong market position

Price/BookValuation
2.8x8/10

Reasonable price relative to book value

Free Cash FlowQuality
$2.27B8/10

Generating 2.3B in free cash flow

Areas to Watch

CGBD4 concerns · Avg: 2.8/10
Market CapQuality
$799.75M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
6.8%3/10

ROE of 6.8% — below average capital efficiency

Debt/EquityHealth
1.103/10

Elevated debt levels

PEG RatioValuation
3.542/10

Expensive relative to growth rate

KKR2 concerns · Avg: 3.0/10
P/E RatioValuation
38.9x4/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
-2.2%2/10

Earnings declined 2.2%

Comparative Analysis Report

WallStSmart Research

Bull Case : CGBD

The strongest argument for CGBD centers on P/E Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 27.4% and operating margin at 74.5%. Revenue growth of 18.7% demonstrates continued momentum.

Bull Case : KKR

The strongest argument for KKR centers on PEG Ratio, Operating Margin, Revenue Growth. Revenue growth of 76.3% demonstrates continued momentum. PEG of 0.39 suggests the stock is reasonably priced for its growth.

Bear Case : CGBD

The primary concerns for CGBD are Market Cap, Return on Equity, Debt/Equity.

Bear Case : KKR

The primary concerns for KKR are P/E Ratio, EPS Growth.

Key Dynamics to Monitor

CGBD profiles as a growth stock while KKR is a hypergrowth play — different risk/reward profiles.

KKR carries more volatility with a beta of 2.01 — expect wider price swings.

KKR is growing revenue faster at 76.3% — sustainability is the question.

KKR generates stronger free cash flow (2.3B), providing more financial flexibility.

Bottom Line

KKR scores higher overall (65/100 vs 59/100) and 76.3% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

Carlyle Secured Lending Inc

FINANCIAL SERVICES · ASSET MANAGEMENT · USA

TCG BDC, Inc. is a closed undiversified investment company. The company is headquartered in New York, New York.

KKR & Co LP

FINANCIAL SERVICES · ASSET MANAGEMENT · USA

KKR & Co. LP is a leading global investment firm established in 1976, recognized for its expertise in managing a diversified portfolio across private equity, credit, and real assets. With a strong emphasis on innovative investment strategies and operational excellence, KKR adeptly identifies and leverages complex market opportunities to generate sustainable long-term value. The firm's profound industry knowledge and extensive global network contribute significantly to the growth of its portfolio companies. Additionally, KKR is committed to sustainable investing, actively integrating environmental, social, and governance (ESG) considerations into its strategies, thereby reinforcing its dedication to delivering robust performance for its investors while promoting responsible growth in the financial markets.

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