CRCL Financial Services

Circle Internet Group

$75.22+4.36%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Financial Services
Industry: Capital Markets
Country: United States
Market cap: 19.1B USD
Full-time employees: 1,100

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
About average: profitability

Ranks #528 of 791 banks & insurance companies (bottom 34%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Circle Internet made a profit per share in its latest year after a loss the year before.
Fast revenue growth. Revenue grew 37% in the 12 months to June 2026 vs the 12 months before, faster than 90% of peers.
Revenue grew 37% in the 12 months to June 2026 vs the 12 months before, faster than 90% of its peers.
Little borrowing. Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.
Circle Internet has among the least debt in its peer group relative to shareholders' equity.

StockQuotient Score

44/ 100▼ 1 since Oct 27 close

Oct 5 45 → Nov 4 44 (-1)

Valuation

Is the price right?

3/100

Weak

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ P/B
▼ Earnings yield

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield17.4%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile40% base weight · Z-score -2.06Sector median: 0.7950 · MAD: 0.2843

Earnings yield2.2%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score -2.24Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yield1.3%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield3.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported valueInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

89/100

Strong

1/1 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit100% base weight · Z-score 3.65Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth52.7%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth37.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

41/100

Moderate▼ 1 since Oct 27 close

2/2 inputs reported · High confidence

Since last quarter: ▲ Stronger

Turned profitable over the last 12 months
Operating margin rose 12.5 points to 7.4%

Why it changed since the Oct 27, 2026 close: Score 42 → 41

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ ROE
▼ ROA

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets0.6%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.94Sector median: 0.0117 · MAD: 0.0062

Return on equity12.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.55Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating margin7.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Circle Internet

Is Circle Internet getting weaker?: Its latest SEC filing (Aug 5, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 12.5 points to 7.4%. Its overall score is 44/100, down 1 since Oct 28, 2026.
How is Circle Internet valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 3/100 against 950 banks & insurance peers. Book yield 17.4% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 17.4% vs peers 79.5% (weaker than 100% of peers).
Is Circle Internet growing?: Yes, faster than most of its peers. Growth scores 89/100 against 950 banks & insurance peers.
How profitable is Circle Internet?: About as profitable as its peers. Profitability scores 41/100 against 950 banks & insurance peers. Return on equity 12.9% vs a peer median of 10.7% (stronger than 64% of peers).Return on equity 12.9% vs peers 10.7% (stronger than 64% of peers). Return on assets 0.6% vs a peer median of 1.2% (weaker than 75% of peers).Return on assets 0.6% vs peers 1.2% (weaker than 75% of peers).
How risky is Circle Internet?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Turned profitable over the last 12 months
Operating margin rose 12.5 points to 7.4%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.9B USD	2.9B USD	+1.5%
Net income (12 months)	−79.0M USD	451.3M USD	turned positive
Operating margin	-5.0%	7.4%	+12.5 pts
Free cash flow (12 months)	490.7M USD	761.5M USD	+55.2%
Cash	1.5B USD	1.7B USD	+14.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Capital Markets · 24 companies

Valuations in Capital Markets are above their usual range since Nov 2016.

62% of months since Nov 2016 were valued lower than now.
56% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +34% and earnings +87% (medians): earnings grew faster than prices.
Median price-to-book is +21% vs the whole market, against a usual +28%.

Nov 2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2023	FY 2024	FY 2025	Change
Operating margin	18.6%	10.0%	-3.5%	▼ 13 pts
Net margin	18.4%	9.3%	-2.5%	▼ 12 pts
Return on assets (ROA)	—	0.3%	-0.1%	▼ 0.4 pts
Return on equity (ROE)	78.8%	—	-2.1%	—
Interest coverage	140.97×	87.70×	-78.66×	▼ 190%

CRCL price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

White Mountains Insurance Group, Ltd.WTM94/ 100

The Allstate CorporationALL93/ 100

PT Saratoga Investama Sedaya TbkSRTG.JK93/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

About average: profitability

Ranks #528 of 791 banks & insurance companies (bottom 34%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Circle Internet made a profit per share in its latest year after a loss the year before.

Fast revenue growth. Revenue grew 37% in the 12 months to June 2026 vs the 12 months before, faster than 90% of peers.

Revenue grew 37% in the 12 months to June 2026 vs the 12 months before, faster than 90% of its peers.

Little borrowing. Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.

Circle Internet has among the least debt in its peer group relative to shareholders' equity.

Questions investors ask about Circle Internet

Is Circle Internet getting weaker?

Its latest SEC filing (Aug 5, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 12.5 points to 7.4%. Its overall score is 44/100, down 1 since Oct 28, 2026.

How is Circle Internet valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 3/100 against 950 banks & insurance peers. Book yield 17.4% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 17.4% vs peers 79.5% (weaker than 100% of peers).

Is Circle Internet growing?

Yes, faster than most of its peers. Growth scores 89/100 against 950 banks & insurance peers.

How profitable is Circle Internet?

About as profitable as its peers. Profitability scores 41/100 against 950 banks & insurance peers. Return on equity 12.9% vs a peer median of 10.7% (stronger than 64% of peers).Return on equity 12.9% vs peers 10.7% (stronger than 64% of peers). Return on assets 0.6% vs a peer median of 1.2% (weaker than 75% of peers).Return on assets 0.6% vs peers 1.2% (weaker than 75% of peers).

How risky is Circle Internet?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.9B USD

2.9B USD

+1.5%

Net income (12 months)

−79.0M USD

451.3M USD

turned positive

Operating margin

-5.0%

7.4%

+12.5 pts

Free cash flow (12 months)

490.7M USD

761.5M USD

+55.2%

Cash

1.5B USD

1.7B USD

+14.0%

Key ratios

FY 2023

FY 2024

FY 2025

Change

Operating margin

18.6%

10.0%

-3.5%

▼ 13 pts

Net margin

18.4%

9.3%

-2.5%

▼ 12 pts

Return on assets (ROA)

—

0.3%

-0.1%

▼ 0.4 pts

Return on equity (ROE)

78.8%

—

-2.1%

—

Interest coverage

140.97×

87.70×

-78.66×

▼ 190%