NYSE : CRCL
Circle Internet Group, Inc. — Financial statements
Financials · Capital Markets · United States
Last price 79.99 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 20.41B
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Financial statements
Circle Internet Group, Inc. (CRCL) reported revenue of 2.91B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 2.76B | 2.64B | 1.66B | 1.43B | 735.88M | 56.41M |
| Other Revenue | 140.56M | 109.82M | 15.17M | 19.86M | 36.17M | 28.46M |
| Revenue | 2.91B | 2.75B | 1.68B | 1.45B | 772.05M | 84.88M |
| Cost of Revenue | 2.27B | 2.51B | 1.28B | 1.02B | 522.32M | 110.79M |
| Gross Profit | 639.13M | 238.11M | 395.48M | 426.69M | 249.74M | -25.91M |
| Selling, General & Admin | 318.49M | 252.63M | 181.72M | 157.39M | 172.95M | 50.20M |
| Other Operating Expenses | -126.00K | 5.29M | -4.25M | -13.49M | 57.44M | 6.04M |
| Operating Expenses | 423.57M | 334.55M | 228.32M | 178.79M | 243.66M | 60.18M |
| Operating Income | 215.57M | -96.44M | 167.16M | 247.89M | 6.08M | -86.10M |
| Interest Expense | -649.00K | -1.23M | -1.91M | -1.91M | -2.68M | -4.77M |
| Interest & Investment Income | 57.98M | 47.67M | 34.71M | 29.26M | 8.64M | |
| Earnings From Equity Investments | -537.00K | |||||
| Other Non Operating Income (Expenses) | 22.33M | 19.52M | 12.31M | -2.79M | -16.18M | 50.83M |
| EBT Excluding Unusual Items | 310.43M | -30.46M | 212.28M | 272.45M | -4.14M | -40.58M |
| Merger & Restructuring Charges | -44.19M | |||||
| Gain (Loss) on Sale of Investments | -866.00K | -1.01M | -2.36M | -11.24M | 4.90M | |
| Gain (Loss) on Sale of Assets | 21.63M | |||||
| Other Unusual Items | 92.70M | -71.42M | 11.65M | 24.86M | -698.94M | -468.18M |
| Pretax Income | 402.26M | -102.89M | 221.57M | 318.95M | -758.51M | -503.86M |
| Income Tax Expense | -48.99M | -33.38M | 64.58M | 47.40M | 3.26M | 4.85M |
| Earnings From Continuing Operations | 451.25M | -69.52M | 156.99M | 271.55M | -761.77M | -508.71M |
| Earnings From Discontinued Operations | -1.32M | -3.99M | -7.08M | 507.00K | ||
| Net Income to Company | 451.25M | -69.52M | 155.67M | 267.56M | -768.85M | -508.21M |
| Minority Interest in Earnings | 24.00K | 10.00K | ||||
| Net Income | 451.27M | -69.51M | 155.67M | 267.56M | -768.85M | -508.21M |
| Preferred Dividends & Other Adjustments | 137.56M | 222.65M | ||||
| Net Income to Common | 451.27M | -69.51M | 18.11M | 44.91M | -768.85M | -508.21M |
| Shares Outstanding (Basic) | 241.35M | 158.70M | 54.41M | 47.27M | 46.66M | 44.35M |
| Shares Outstanding (Diluted) | 251.23M | 158.70M | 73.04M | 67.55M | 46.66M | 44.35M |
| EPS (Basic) | 1.87 | -0.44 | 0.33 | 0.95 | -16.48 | -11.46 |
| EPS (Diluted) | 1.80 | -0.44 | 0.30 | 0.78 | -16.48 | -11.46 |
| Free Cash Flow | 761.52M | 529.70M | 326.45M | 138.91M | -75.74M | -93.38M |
| Free Cash Flow Per Share | 3.03 | 3.34 | 4.47 | 2.06 | -1.62 | -2.11 |
| Gross Margin | 22.00% | 8.67% | 23.59% | 29.42% | 32.35% | -30.53% |
| Operating Margin | 7.42% | -3.51% | 9.97% | 17.09% | 0.79% | -101.44% |
| Profit Margin | 15.53% | -2.53% | 1.08% | 3.10% | -99.59% | -598.76% |
| Free Cash Flow Margin | 26.21% | 19.29% | 19.48% | 9.58% | -9.81% | -110.02% |
| EBITDA | 228.85M | -86.79M | 176.00M | 257.92M | 10.46M | -85.55M |
| EBITDA Margin | 7.88% | -3.16% | 10.50% | 17.78% | 1.35% | -100.80% |
| D&A For EBITDA | 13.28M | 9.65M | 8.84M | 10.02M | 4.38M | 545.00K |
| EBIT | 215.57M | -96.44M | 167.16M | 247.89M | 6.08M | -86.10M |
| EBIT Margin | 7.42% | -3.51% | 9.97% | 17.09% | 0.79% | -101.44% |
| Effective Tax Rate | 29.15% | 14.86% | ||||
| Revenue as Reported | 2.91B | 2.75B | 1.68B | 1.45B | 772.05M | 84.88M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.73B | 1.53B | 750.98M | 368.62M | 664.65M | 161.56M |
| Short-Term Investments | 152.18M | 8.75B | 1.25M | |||
| Cash & Short-Term Investments | 1.73B | 1.53B | 750.98M | 520.81M | 9.41B | 162.81M |
| Accounts Receivable | 87.95M | 62.87M | 6.42M | 1.94M | 3.64M | 22.70M |
| Other Receivables | 245.41M | 284.28M | 154.35M | 149.40M | 100.61M | 159.32M |
| Receivables | 333.36M | 347.15M | 160.77M | 151.34M | 104.25M | 182.02M |
| Prepaid Expenses | 28.50M | 24.24M | 15.60M | 14.39M | 10.07M | 15.39M |
| Other Current Assets | 74.08B | 75.90B | 44.24B | 24.63B | 36.00B | 43.21B |
| Total Current Assets | 76.17B | 77.80B | 45.16B | 25.31B | 45.52B | 43.57B |
| Property, Plant & Equipment | 37.34M | 36.92M | 34.17M | 4.24M | 7.22M | 1.23M |
| Long-Term Investments | 103.14M | 84.27M | 84.11M | 163.81M | 53.28M | 28.23M |
| Goodwill | 265.74M | 265.74M | 169.54M | 169.54M | 169.54M | 24.01M |
| Other Intangible Assets | 446.58M | 411.15M | 331.39M | 327.38M | 47.90M | 6.61M |
| Long-Term Deferred Tax Assets | 11.35M | 11.11M | 10.22M | |||
| Other Long-Term Assets | 131.69M | 102.56M | 40.01M | 17.69M | 34.90M | 264.03M |
| Total Assets | 77.17B | 78.71B | 45.83B | 26.00B | 45.84B | 43.90B |
| Accounts Payable | 23.40M | 24.73M | 5.50M | |||
| Accrued Expenses | 222.01M | 233.31M | 153.63M | 108.03M | 259.45M | 38.88M |
| Short-Term Debt | 154.84M | |||||
| Current Portion of Long-Term Debt | 36.82M | 24.04M | ||||
| Current Portion of Leases | 3.72M | 2.69M | 2.64M | 1.65M | 1.93M | |
| Current Income Taxes Payable | 3.50M | 1.63M | 678.00K | 27.16M | 5.79M | 9.66M |
| Current Unearned Revenue | 415.00K | |||||
| Other Current Liabilities | 73.35B | 75.03B | 43.87B | 24.30B | 44.60B | 43.25B |
| Total Current Liabilities | 73.60B | 75.33B | 44.03B | 24.44B | 44.87B | 43.48B |
| Long-Term Debt | 40.72M | 58.49M | 78.26M | 904.12M | ||
| Long-Term Leases | 12.23M | 11.98M | 13.07M | 132.00K | 1.70M | |
| Long-Term Unearned Revenue | 301.00K | |||||
| Long-Term Deferred Tax Liabilities | 28.50M | 28.70M | 29.56M | 19.62M | 3.91M | |
| Other Long-Term Liabilities | 12.61M | 13.36M | 9.80M | 10.08M | 2.69M | 1.35M |
| Total Liabilities | 73.66B | 75.38B | 44.12B | 24.53B | 44.96B | 44.39B |
| Common Stock | 27.00K | 26.00K | 6.00K | 6.00K | 5.00K | 5.00K |
| Additional Paid-In Capital | 4.69B | 4.61B | 1.79B | 1.72B | 1.40B | 113.10M |
| Retained Earnings | -1.19B | -1.29B | -1.22B | -1.39B | -1.65B | -883.35M |
| Treasury Stock | -2.65M | -2.72M | -2.88M | -2.88M | -2.88M | -2.88M |
| Comprehensive Income & Other | 6.45M | 14.52M | 3.64M | 4.93M | 3.36M | 4.71M |
| Total Common Equity | 3.51B | 3.33B | 570.53M | 339.47M | -252.10M | -768.41M |
| Minority Interest | 1.39M | 1.45M | ||||
| Shareholders' Equity | 3.51B | 3.33B | 1.71B | 1.47B | 879.16M | -489.18M |
| Total Liabilities & Equity | 77.17B | 78.71B | 45.83B | 26.00B | 45.84B | 43.90B |
| Total Debt | 15.95M | 51.48M | 56.43M | 60.27M | 81.89M | 1.08B |
| Net Cash (Debt) | 1.71B | 1.47B | 694.55M | 460.54M | 9.33B | -920.18M |
| Net Cash Per Share | 6.82 | 9.29 | 9.51 | 6.82 | 199.98 | -20.75 |
| Filing Date Shares Outstanding | 253.88M | 242.12M | 48.73M | 48.72M | 46.66M | 40.31M |
| Total Common Shares Outstanding | 252.73M | 242.26M | 48.73M | 48.72M | 46.66M | 40.31M |
| Working Capital | 2.57B | 2.47B | 1.13B | 876.37M | 652.88M | 92.48M |
| Book Value Per Share | 13.88 | 13.74 | 11.71 | 6.97 | -5.40 | -19.06 |
| Tangible Book Value | 2.80B | 2.65B | 69.59M | -157.45M | -469.54M | -799.03M |
| Tangible Book Value Per Share | 11.06 | 10.95 | 1.43 | -3.23 | -10.06 | -19.82 |
| Machinery | 6.99M | 5.82M | 4.92M | 4.54M | 1.94M | |
| Construction In Progress | 16.20M | |||||
| Leasehold Improvements | 20.29M | 20.10M | 739.00K | 572.00K | 128.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 451.27M | -69.51M | 155.67M | 267.56M | -768.85M | -508.21M |
| Depreciation & Amortization | 13.28M | 9.65M | 8.84M | 10.02M | 4.38M | 545.00K |
| Other Amortization | 91.92M | 66.98M | 42.02M | 24.86M | 8.90M | 3.40M |
| Loss (Gain) From Sale of Assets | 6.00K | 22.00K | 73.00K | -21.52M | ||
| Loss (Gain) From Sale of Investments | -7.94M | -294.00K | -2.70M | -5.99M | -326.55M | 6.48M |
| Loss (Gain) on Equity Investments | 537.00K | |||||
| Stock-Based Compensation | 224.44M | 562.88M | 50.13M | 108.00M | 69.27M | 20.03M |
| Other Operating Activities | -80.20M | 81.94M | -26.89M | -70.91M | 769.26M | 391.11M |
| Change in Accounts Receivable | -55.23M | -39.38M | -4.57M | 2.24M | 18.73M | -21.11M |
| Change in Accounts Payable | -10.82M | 81.24M | 132.88M | -123.83M | 227.30M | 29.67M |
| Change in Unearned Revenue | -473.00K | |||||
| Change in Other Net Operating Assets | 150.18M | -151.39M | -10.87M | -50.87M | -75.14M | -14.30M |
| Operating Cash Flow | 776.92M | 542.13M | 344.58M | 139.57M | -72.69M | -92.33M |
| Capital Expenditures | -15.40M | -12.43M | -18.13M | -654.00K | -3.05M | -1.06M |
| Cash Acquisitions | -7.73M | -43.46M | -12.30M | |||
| Sale (Purchase) of Intangibles | -67.11M | -56.20M | -39.10M | -32.86M | -18.32M | -6.81M |
| Investment in Securities | -12.74M | -7.87M | 238.72M | 8.52B | -8.42B | -16.75M |
| Other Investing Activities | 117.00K | 196.00K | 4.80M | 27.30M | 1.00M | 8.08M |
| Investing Cash Flow | -95.14M | -84.03M | 186.30M | 8.51B | -8.49B | -28.85M |
| Long-Term Debt Issued | 451.02M | |||||
| Long-Term Debt Repaid | -12.49M | |||||
| Net Debt Issued (Repaid) | 438.54M | |||||
| Issuance of Common Stock | 531.61M | 1.06B | 1.61M | 1.04M | 486.00K | 482.00K |
| Repurchase of Common Stock | -297.43M | -269.73M | -8.74M | |||
| Other Financing Activities | 11.79B | 31.14B | 19.45B | -20.32B | 2.18B | 38.28B |
| Financing Cash Flow | 12.02B | 31.94B | 19.45B | -20.33B | 2.58B | 38.72B |
| Foreign Exchange Rate Adjustments | 12.05M | 57.67M | -7.10M | 1.10M | 3.62M | 137.00K |
| Miscellaneous Cash Flow Adjustments | -224.00K | -254.00K | 136.00K | |||
| Net Cash Flow | 12.72B | 32.45B | 19.97B | -11.68B | -5.98B | 38.60B |
| Free Cash Flow | 761.52M | 529.70M | 326.45M | 138.91M | -75.74M | -93.38M |
| Free Cash Flow Margin | 26.21% | 19.29% | 19.48% | 9.58% | -9.81% | -110.02% |
| Free Cash Flow Per Share | 3.03 | 3.34 | 4.47 | 2.06 | -1.62 | -2.11 |
| Levered Free Cash Flow | 206.23M | -91.06M | 118.62M | -8.85B | 8.93B | -162.74M |
| Unlevered Free Cash Flow | 206.63M | -90.30M | 119.81M | -8.85B | 8.93B | -159.76M |
| Cash Interest Paid | 216.00K | 180.00K | 258.00K | 253.00K | 350.00K | |
| Cash Income Tax Paid | 13.33M | 75.58M | 81.04M | 7.42M | 30.00K | |
| Change in Working Capital | 84.13M | -109.53M | 117.44M | -172.46M | 170.90M | -6.22M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 18.51B | 18.67B | ||||
| Enterprise Value | 16.79B | 17.49B | ||||
| Last Close Price | 79.30 | |||||
| Forward PE | 55.54 | 69.38 | ||||
| PS Ratio | 6.37 | 6.80 | ||||
| PB Ratio | 5.23 | 5.61 | ||||
| P/TBV Ratio | 6.62 | 7.04 | ||||
| P/FCF Ratio | 24.30 | 35.25 | ||||
| P/OCF Ratio | 23.82 | 34.44 | ||||
| PEG Ratio | 0.98 | |||||
| EV/Sales Ratio | 5.78 | 6.37 | ||||
| EV/FCF Ratio | 22.05 | 33.02 | ||||
| Debt / Equity Ratio | 0.01 | 0.01 | 0.03 | 0.04 | 0.09 | -2.21 |
| Debt / EBITDA Ratio | 0.07 | 0.31 | 0.23 | 6.21 | ||
| Debt / FCF Ratio | 0.02 | 0.10 | 0.17 | 0.43 | ||
| Net Debt / Equity Ratio | -0.49 | -0.44 | -0.41 | -0.31 | -10.62 | -1.88 |
| Net Debt / EBITDA Ratio | -7.49 | 16.99 | -3.95 | -1.79 | -892.57 | -10.76 |
| Net Debt / FCF Ratio | -2.25 | -2.78 | -2.13 | -3.31 | 123.20 | -9.85 |
| Asset Turnover | 0.04 | 0.04 | 0.05 | 0.04 | 0.02 | 0.00 |
| Quick Ratio | 0.03 | 0.03 | 0.02 | 0.03 | 0.21 | 0.01 |
| Current Ratio | 1.03 | 1.03 | 1.03 | 1.04 | 1.01 | 1.00 |
| Return on Equity (ROE) | 15.35% | -2.76% | 9.87% | 23.11% | -390.68% | |
| Return on Assets (ROA) | 0.19% | -0.10% | 0.29% | 0.43% | 0.01% | -0.22% |
| Return on Invested Capital (ROIC) | 11.58% | -6.72% | 11.69% | 20.89% | -36.71% | |
| Return on Capital Employed (ROCE) | 6.00% | -2.80% | 9.30% | 15.90% | 0.60% | -20.70% |
| Earnings Yield | 2.50% | -0.37% | ||||
| FCF Yield | 4.12% | 2.84% | ||||
| Buyback Yield / Dilution | -265.38% | -117.27% | -8.13% | -44.76% | -5.22% | -22.88% |