Circle Internet Group Inc is a financial technology firm engaged in digital currencies and public blockchains for payments, commerce, and financial applications.
It is a $21.5B financial services company. Revenue grew 37.2% over the last year, and it keeps 16¢ of every dollar of sales as profit. It trades at 47.8× earnings — around the middle of its own history.
- Website
- circle.com
- Location
- New York, NY
- Employees
- 1 100
- Sector
- Financial Services
- Founded
- 2013
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Valuation, Growth, Profitability, Health, Quality and Moat lag behind.
Valuation29
- P/E vs own history64th pct · 5/25
- FCF yield3.5% · 12/25
- P/S7.4x · 12/25
- EV/EBITDA61.8x · 0/25
Growth25
- Revenue CAGR138.5% · 25/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth-39.1% · 0/25
Profitability37
- ROIC-3.7% · 0/25
- ROE13.6% · 12/25
- Net margin15.5% · 20/25
- Operating margin7.4% · 5/25
Health40
- Altman Z0.22 · 3/25
- Current ratio1.03 · 12/25
- Interest coverage-10.3x · 0/25
- Net cash / debtNet cash · 25/25
Quality46
- Piotroski F5/9 · 15/25
- Beneish M-0.90 · 6/25
- FCF conversion169% · 25/25
- Margin stabilityσ 151.9% · 0/25
Moat29
- ROIC >12% years2/4 yrs · 13/25
- Median gross margin23.6% · 6/25
- FCF-positive years3/5 yrs · 10/25
- Worst-year net marginworst -598.8% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2025AcquisitionA bid by Ripple Labs to acquire Circle Internet Financial for $4 to $5 billion was rejected as being…
- May 27, 2025ProductCircle launched its IPO on the NYSE, seeking $624 million for a valuation of up to $6.7 billion
- 2024IPOCircle Internet confidentially filed plans for a U.S. initial public offering in January 2024
- FY2023FinancialTurned profitable$44.9M net income after a loss year
- FY2023FinancialRevenue crossed $1B$1.45B for the year
- FY2023FinancialBest year on record$44.9M net income
- Mar 10, 2023MilestoneUSDC announced that $3.3 billion of its $40 billion USDC reserves were held at Silicon Valley…
- FY2022FinancialBecame debt-freecash now exceeds total debt
- 2021AcquisitionCircle announced a plan to go public by merging with a special-purpose acquisition company called…
- 2019AcquisitionAfter receiving Financial Industry Regulatory Authority approval, Circle acquired SeedInvest in March 2019
- 2018ProductCircle introduced the consortium Centre, which launched the dollar-pegged cryptocurrency USDC
- 2017ProductCircle launched a new service for group payments and cash transfers to US accounts
- 2014ProductThe company debuted its first product, the mobile payment platform Circle Pay
- 2013FoundedCircle was founded by Jeremy Allaire and Sean Neville in October 2013 in Boston, Massachusetts
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (40.5%)
- Revenue growing 37.2% year over year
- Strong cash conversion — FCF is 26.2% of revenue
- Net cash position after subtracting debt from cash
Watch-outs
- Altman Z-Score 0.22 — elevated financial-distress risk
- Thin interest coverage (-10.3×)
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+37.2% YoY
- Profitable — makes more than it spends$451M TTM
- Profit growing — earnings are higher than last year-483.8% YoY
- Generates cash — cash left after running and investing$762M TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$21.5B market cap
- Not printing shares — share count not ballooning — you keep your slice+293.7% shares over ~5y
- Proven track record — years of profitability behind it2/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.2 — distress
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 47.8
Peer comparisonCircle Internet Group, Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| CRCL this company | $21.5B | 47.8 | +37.2% | 15.5% | Mixed |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| MA Mastercard Incorporated | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
Head-to-head: CRCL vs BRK.A · CRCL vs BRK.B · CRCL vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/CRCL
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Deeper analysis of CRCL on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $84.79 · market cap $21.5B.