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Circle Internet Group (CRCL) Financials

Circle Internet Group logo
$114.18 -9.70 (-7.83%)
Closing price 03:59 PM Eastern
Extended Trading
$112.80 -1.38 (-1.20%)
As of 05:58 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Circle Internet Group

Annual Income Statements for Circle Internet Group

This table shows Circle Internet Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 268 156 -70
Consolidated Net Income / (Loss)		 268 156 -70
Net Income / (Loss) Continuing Operations		 272 157 -70
Total Pre-Tax Income 		319 222 -103
Total Operating Income		 270 167 -96
Total Gross Profit		 1,146 1,406 1,900
Total Revenue		 1,450 1,676 2,747
Operating Revenue		 1,450 1,676 2,747
Total Cost of Revenue		 304 270 847
Operating Cost of Revenue		 304 270 847
Total Operating Expenses		 877 1,239 1,996
Selling, General & Admin Expense		 100 137 190
Marketing Expense		 37 17 26
Depreciation Expense		 35 51 77
Other Operating Expenses / (Income)		 727 1,034 1,703
Other Special Charges / (Income)		 -22 0.00 0.00
Total Other Income / (Expense), net		 49 54 -6.46
Other Income / (Expense), net		 49 54 -6.46
Income Tax Expense		 47 65 -33
Net Income / (Loss) Discontinued Operations		 -3.99 -1.32 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 -0.01
Basic Earnings per Share		 $0.95 $0.33 ($0.44)
Weighted Average Basic Shares Outstanding		 47.27M 54.41M 158.70M
Diluted Earnings per Share		 $0.78 $0.30 ($0.44)
Weighted Average Diluted Shares Outstanding		 67.55M 73.04M 158.70M
Weighted Average Basic & Diluted Shares Outstanding		 - - 246.82M

Quarterly Income Statements for Circle Internet Group

This table shows Circle Internet Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 33 71 65 -482 214 55
Consolidated Net Income / (Loss)		 33 71 65 -482 214 55
Net Income / (Loss) Continuing Operations		 33 71 65 -482 214 55
Total Pre-Tax Income 		52 86 90 -486 153 57
Total Operating Income		 50 64 93 -326 81 45
Total Gross Profit		 361 380 503 154 610 555
Total Revenue		 430 446 579 658 740 694
Operating Revenue		 430 446 579 658 740 694
Total Cost of Revenue		 69 66 76 504 130 140
Operating Cost of Revenue		 69 66 76 504 130 140
Total Operating Expenses		 311 316 410 480 529 510
Selling, General & Admin Expense		 36 33 31 43 45 57
Marketing Expense		 5.64 4.38 3.86 7.91 5.62 6.62
Depreciation Expense		 13 13 14 14 23 27
Other Operating Expenses / (Income)		 257 266 361 415 455 419
Total Other Income / (Expense), net		 1.92 22 -3.10 -160 72 12
Other Income / (Expense), net		 1.92 22 -3.10 -160 72 12
Income Tax Expense		 19 15 25 -3.90 -61 1.44
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - 0.00 - - -0.01
Basic Earnings per Share		 $0.00 $0.00 $0.00 ($4.48) $0.93 $0.23
Weighted Average Basic Shares Outstanding		 54.40M 54.55M 57.97M 107.51M 229.90M 244.04M
Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($4.48) $0.64 $0.21
Weighted Average Diluted Shares Outstanding		 70.42M 73.13M 75.65M 107.51M 266.68M 266.69M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 229.43M 235.48M 248.58M

Annual Cash Flow Statements for Circle Internet Group

This table details how cash moves in and out of Circle Internet Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -11,680 19,973 32,452
Net Cash From Operating Activities		 140 345 542
Net Cash From Continuing Operating Activities		 172 347 521
Net Income / (Loss) Continuing Operations		 268 156 -70
Consolidated Net Income / (Loss)		 268 156 -70
Depreciation Expense		 35 51 77
Amortization Expense		 -7.74 -2.27 0.00
Non-Cash Adjustments To Reconcile Net Income		 50 26 624
Changes in Operating Assets and Liabilities, net		 -172 117 -110
Net Cash From Investing Activities		 8,510 186 -84
Net Cash From Continuing Investing Activities		 8,530 186 -84
Purchase of Property, Plant & Equipment		 -34 -57 -69
Acquisitions		 0.00 0.00 -7.73
Purchase of Investments		 -314 -104 -9.29
Divestitures		 22 0.00 0.00
Sale and/or Maturity of Investments		 8,829 342 1.43
Other Investing Activities, net		 27 4.81 0.20
Net Cash From Financing Activities		 -20,330 19,450 31,936
Net Cash From Continuing Financing Activities		 -20,330 19,450 31,936
Repayment of Debt		 0.00 -3.87 0.00
Repurchase of Common Equity		 -8.75 0.00 0.00
Issuance of Common Equity		 0.00 0.00 1,015
Other Financing Activities, net		 -20,321 19,454 30,922
Effect of Exchange Rate Changes		 1.10 -7.10 58
Cash Interest Paid		 0.25 0.26 0.18
Cash Income Taxes Paid		 81 76 13

Quarterly Cash Flow Statements for Circle Internet Group

This table details how cash moves in and out of Circle Internet Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q4 2024 Q1 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2024 12/31/2024 3/31/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 3,508 8,659 16,301 12,487 1,858 1,787
Net Cash From Operating Activities		 113 106 57 -11 249 21
Net Cash From Continuing Operating Activities		 105 109 57 169 228 21
Net Income / (Loss) Continuing Operations		 71 3.11 65 214 133 55
Consolidated Net Income / (Loss)		 71 3.11 65 214 133 55
Depreciation Expense		 13 14 14 23 26 27
Non-Cash Adjustments To Reconcile Net Income		 -7.69 5.83 28 184 -11 63
Changes in Operating Assets and Liabilities, net		 29 87 -50 -252 80 -124
Net Cash From Investing Activities		 60 75 -25 -20 -18 -35
Net Cash From Continuing Investing Activities		 60 75 -25 -20 -18 -35
Purchase of Property, Plant & Equipment		 -15 -21 -18 -20 -17 -25
Acquisitions		 -0.45 - -7.44 -0.19 - 0.00
Purchase of Investments		 8.78 -12 -0.34 -1.33 -1.60 -11
Sale and/or Maturity of Investments		 66 107 0.01 0.89 0.54 0.56
Other Investing Activities, net		 0.16 0.18 0.08 - 0.12 0.00
Net Cash From Financing Activities		 3,332 8,485 16,263 12,518 1,622 1,791
Net Cash From Continuing Financing Activities		 3,332 8,485 16,263 12,518 1,622 1,791
Repayment of Debt		 -2.88 -0.73 -0.95 - - 0.00
Repurchase of Common Equity		 - - 0.00 - - -0.37
Issuance of Common Equity		 - - 0.00 441 0.93 1.05
Other Financing Activities, net		 3,335 8,486 16,264 12,077 1,621 1,791
Effect of Exchange Rate Changes		 2.63 -7.49 6.58 -0.12 4.54 9.52
Cash Interest Paid		 -0.01 - 0.18 - - 0.22
Cash Income Taxes Paid		 32 17 0.78 0.32 -0.51 1.28

Annual Balance Sheets for Circle Internet Group

This table presents Circle Internet Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2025
Period end date 12/31/2024 12/31/2025
Total Assets		 45,834 78,713
Total Current Assets		 45,165 77,801
Cash & Equivalents		 1,045 2,349
Accounts Receivable		 13 63
Prepaid Expenses		 188 322
Other Current Assets		 43,919 75,068
Plant, Property, & Equipment, net		 19 23
Total Noncurrent Assets		 651 889
Long-Term Investments		 84 84
Goodwill		 170 266
Intangible Assets		 331 411
Noncurrent Deferred & Refundable Income Taxes		 10 11
Other Noncurrent Operating Assets		 56 117
Total Liabilities & Shareholders' Equity		 45,834 78,713
Total Liabilities		 44,124 75,382
Total Current Liabilities		 44,031 75,328
Short-Term Debt		 0.00 37
Accounts Payable		 287 361
Customer Deposits		 43,727 74,913
Other Current Liabilities		 17 18
Total Noncurrent Liabilities		 93 54
Noncurrent Deferred & Payable Income Tax Liabilities		 30 29
Other Noncurrent Operating Liabilities		 23 25
Commitments & Contingencies		 0.00 0.00
Total Equity & Noncontrolling Interests		 571 3,331
Total Preferred & Common Equity		 571 3,329
Total Common Equity		 571 3,329
Common Stock		 1,793 4,610
Retained Earnings		 -1,223 -1,293
Treasury Stock		 -2.88 -2.72
Accumulated Other Comprehensive Income / (Loss)		 3.64 15
Noncontrolling Interest		 0.00 1.45

Quarterly Balance Sheets for Circle Internet Group

This table presents Circle Internet Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2025 9/30/2025 3/31/2026
Total Assets		 64,154 76,781 80,537
Total Current Assets		 63,302 75,903 79,603
Cash & Equivalents		 1,706 2,186 2,310
Accounts Receivable		 13 23 72
Prepaid Expenses		 217 321 327
Other Current Assets		 61,366 73,373 76,894
Plant, Property, & Equipment, net		 24 23 23
Total Noncurrent Assets		 828 854 912
Long-Term Investments		 84 82 100
Goodwill		 266 266 266
Intangible Assets		 397 412 421
Noncurrent Deferred & Refundable Income Taxes		 17 13 11
Other Noncurrent Operating Assets		 63 81 114
Total Liabilities & Shareholders' Equity		 64,154 76,781 80,537
Total Liabilities		 61,783 73,758 77,108
Total Current Liabilities		 61,730 73,702 77,055
Short-Term Debt		 206 149 0.00
Accounts Payable		 412 269 262
Customer Deposits		 61,102 73,267 76,779
Other Current Liabilities		 11 17 15
Total Noncurrent Liabilities		 52 56 53
Noncurrent Deferred & Payable Income Tax Liabilities		 32 31 28
Other Noncurrent Operating Liabilities		 20 25 25
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,371 3,023 3,429
Total Preferred & Common Equity		 2,371 3,023 3,427
Total Common Equity		 2,371 3,023 3,427
Common Stock		 3,999 4,438 4,659
Retained Earnings		 -1,641 -1,426 -1,237
Treasury Stock		 -2.88 -2.88 -2.68
Accumulated Other Comprehensive Income / (Loss)		 15 15 8.37
Noncontrolling Interest		 - - 1.43

Annual Metrics And Ratios for Circle Internet Group

This table displays calculated financial ratios and metrics derived from Circle Internet Group's official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 235,475,591.00
DEI Adjusted Shares Outstanding		 0.00 0.00 235,475,591.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -0.30
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 229 118 -68
Return On Investment Capital (ROIC_SIMPLE)		 - 19.38% -2.00%
Earnings before Interest and Taxes (EBIT)		 319 222 -103
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 346 270 -26
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -503 -380
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 0.00 621 934
Increase / (Decrease) in Invested Capital		 0.00 621 313
Book Value per Share		 $0.00 $10.49 $14.14
Tangible Book Value per Share		 $0.00 $1.28 $11.26
Total Capital		 0.00 1,751 3,368
Total Debt		 0.00 41 37
Total Long-Term Debt		 0.00 41 0.00
Net Debt		 0.00 -1,089 -2,396
Capital Expenditures (CapEx)		 34 57 69
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 89 161
Debt-free Net Working Capital (DFNWC)		 0.00 1,134 2,510
Net Working Capital (NWC)		 0.00 1,134 2,473
Net Nonoperating Expense (NNE)		 -38 -37 2.01
Net Nonoperating Obligations (NNO)		 0.00 -1,089 -2,396
Total Depreciation and Amortization (D&A)		 27 49 77
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.44)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 158.70M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.44)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 158.70M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 246.82M
Normalized Net Operating Profit after Tax (NOPAT)		 211 118 -68
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Circle Internet Group

This table displays calculated financial ratios and metrics derived from Circle Internet Group's official financial filings.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
DEI Shares Outstanding		 - - 0.00 - - 246,815,606.00
DEI Adjusted Shares Outstanding		 - - 0.00 - - 246,815,606.00
DEI Earnings Per Adjusted Shares Outstanding		 - - 0.00 - - 0.22
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 53.03% 65.95% 19.97%
EBITDA Growth		 0.00% 0.00% 0.00% -828.09% 77.89% -19.54%
EBIT Growth		 0.00% 0.00% 0.00% -1,031.63% 77.67% -36.90%
NOPAT Growth		 0.00% 0.00% 0.00% -818.71% 115.83% -34.57%
Net Income Growth		 0.00% 0.00% 0.00% -1,564.33% 201.97% -14.72%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% -109.43% -62.76%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Revenue Q/Q Growth		 0.00% 3.66% 0.00% 0.00% 12.41% 0.00%
EBITDA Q/Q Growth		 0.00% 52.76% 0.00% 0.00% 137.32% 0.00%
EBIT Q/Q Growth		 0.00% 65.17% 0.00% 0.00% 131.50% 0.00%
NOPAT Q/Q Growth		 0.00% 65.77% 0.00% 0.00% 149.78% 0.00%
Net Income Q/Q Growth		 0.00% 115.64% 0.00% 0.00% 144.47% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 114.29% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -46.80% 0.00% 0.00% -91.54%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 22.03% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 14.98% 0.00%
Profitability Metrics		 - - - - - -
Gross Margin		 83.94% 85.29% 86.87% 23.43% 82.47% 79.90%
EBITDA Margin		 15.07% 22.21% 17.93% -71.69% 23.80% 12.02%
Operating Margin		 11.68% 14.31% 16.06% -49.47% 10.95% 6.48%
EBIT Margin		 12.13% 19.33% 15.53% -73.85% 20.69% 8.17%
Profit (Net Income) Margin		 7.66% 15.93% 11.20% -73.26% 28.98% 7.96%
Tax Burden Percent		 63.11% 82.40% 72.12% 99.20% 140.04% 97.47%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 36.89% 17.60% 27.88% 0.00% -40.04% 2.54%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 35.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 34.56%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% -24.29%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% 11.21%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.29%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.28%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% 11.21%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 32 53 67 -228 113 44
NOPAT Margin		 7.37% 11.79% 11.59% -34.63% 15.34% 6.32%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -32.09% 9.53% 0.95%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -8.84% 3.58% 1.28%
Cost of Revenue to Revenue		 16.06% 14.71% 13.13% 76.57% 17.53% 20.10%
SG&A Expenses to Revenue		 8.31% 7.48% 5.30% 6.56% 6.15% 8.25%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 72.25% 70.98% 70.81% 72.91% 71.51% 73.42%
Earnings before Interest and Taxes (EBIT)		 52 86 90 -486 153 57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 65 99 104 -472 176 83
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 8.22 11.69 7.42
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 11.42 15.08 9.28
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 8.89
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 22.76 36.74 22.61
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 8.05
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 45.47
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.09 0.05 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.00 0.00 -0.67 -0.70 -0.70
Leverage Ratio		 0.00 0.00 0.00 27.06 25.40 23.49
Compound Leverage Factor		 0.00 0.00 0.00 27.06 25.40 23.49
Debt to Total Capital		 0.00% 0.00% 0.00% 8.00% 4.70% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 8.00% 4.70% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.04%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 92.00% 95.30% 99.96%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 0.25
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.04%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.00 0.00 0.00 1.03 1.03 1.03
Quick Ratio		 0.00 0.00 0.00 0.03 0.03 0.03
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 -1,015 -791 -975
Operating Cash Flow to CapEx		 0.00% 748.71% 322.67% 0.00% -54.20% 84.44%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.04
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 39.66
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 127.10
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 3.47
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 9.20
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 105.11
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 -95.91
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.00 0.00 0.00 787 905 1,019
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 5.62
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 787 905 1,019
Enterprise Value (EV)		 0.00 0.00 0.00 17,907 33,238 23,036
Market Capitalization		 1,054 1,054 1,054 19,491 35,357 25,445
Book Value per Share		 $0.00 $0.00 $0.00 $22.05 $13.18 $13.89
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $15.88 $10.22 $11.10
Total Capital		 0.00 0.00 0.00 2,577 3,172 3,429
Total Debt		 0.00 0.00 0.00 206 149 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 0.00 0.00 -1,584 -2,119 -2,410
Capital Expenditures (CapEx)		 0.00 15 18 0.00 20 25
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 71 165 237
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 1,778 2,351 2,547
Net Working Capital (NWC)		 0.00 0.00 0.00 1,572 2,202 2,547
Net Nonoperating Expense (NNE)		 -1.21 -18 2.24 254 -101 -11
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 -1,584 -2,119 -2,410
Total Depreciation and Amortization (D&A)		 13 13 14 14 23 27
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 8.29%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 88.99%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 88.99%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($4.48) $0.93 $0.23
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 107.51M 229.90M 244.04M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($4.48) $0.64 $0.21
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 107.51M 266.68M 266.69M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 229.43M 235.48M 248.58M
Normalized Net Operating Profit after Tax (NOPAT)		 32 53 67 -228 57 44
Normalized NOPAT Margin		 7.37% 11.79% 11.59% -34.63% 7.67% 6.32%
Pre Tax Income Margin		 12.13% 19.33% 15.53% -73.85% 20.69% 8.17%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -0.46%

Financials Breakdown Chart

Key Financial Trends

Circle Internet Group (NYSE: CRCL) has shown a mix of growth and volatility across the latest four quarters ending in 2025, with revenue and cash flow improving in late 2025, but a notable quarterly loss in mid-2025. Here are the key takeaways from the provided quarterly statements (Q2 2024 through Q4 2025) that retail investors may want to watch going forward.

  • Revenue growth: Operating revenue rose from about $430.0 million in Q2 2024 to about $739.8 million in Q3 2025, marking a substantial top-line uptrend over the period.
  • Net income turnaround in 2025: Net income (continuing operations) turned positive in Q3 2025 at roughly $214.4 million, with basic EPS of about $0.93 and diluted EPS of about $0.64, signaling a move toward profitability in that period.
  • Solid operating cash flow on newer quarters: Net cash from continuing operating activities was about $169.2 million in Q3 2025 and rose to about $228.1 million from continuing operations in Q4 2025, with total net cash from operating activities around $249.1 million. This points to improving cash generation from core operations.
  • Liquidity improvement: Cash and equivalents increased to roughly $2.19 billion by Q3 2025 from about $1.71 billion in Q2 2025, reflecting a stronger liquidity position as profitability and cash flow improved.
  • Gross margin expansion in Q3 2025: Gross profit was about $610.1 million on $739.8 million of revenue in Q3 2025 (approximate gross margin of 82.5%), indicating a favorable shift in product mix or cost structure versus earlier quarters.
  • No long-term debt and manageable near-term debt: Long-term debt was reported as zero in the latest balance sheet data, with short-term debt around $149–206 million across the period, suggesting a relatively low debt burden compared with asset size.
  • Significant financing activity: The company shows large non-operating financing inflows in several quarters (e.g., about $12.5 billion in Q3 2025 and around $8.49 billion in Q4 2024), which substantially boost liquidity but may reflect one-off fundings rather than operating performance.
  • Massive customer deposits footprint: Customer deposits grew to about $73.3 billion by Q3 2025 (up from about $61.1 billion in Q2 2025), creating a large liability base on the balance sheet that requires ongoing liquidity management and regulatory considerations.
  • Q2 2025 net loss: The quarter shows a significant net loss (approximately -$482.1 million) despite revenue around $658.1 million, indicating a period of high costs or unusual items that dampened overall profitability.
  • Consolidated operating cash flow volatility: In Q3 2025, consolidated net cash from operating activities was negative by roughly $10.7 million even though continuing operations produced positive cash flow, suggesting working capital movements or one-time items impacting overall cash flow mix.
05/15/26 05:18 PM ETAI Generated. May Contain Errors.

Circle Internet Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Circle Internet Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Circle Internet Group's net income appears to be on a downward trend, with a most recent value of -$69.52 million in 2025, falling from $267.56 million in 2023. The previous period was $155.67 million in 2024. Find out what analysts predict for Circle Internet Group in the coming months.

Circle Internet Group's total operating income in 2025 was -$96.44 million, based on the following breakdown:
  • Total Gross Profit: $1.90 billion
  • Total Operating Expenses: $2.00 billion

Over the last 2 years, Circle Internet Group's total revenue changed from $1.45 billion in 2023 to $2.75 billion in 2025, a change of 89.4%.

Circle Internet Group's total liabilities were at $75.38 billion at the end of 2025, a 70.8% increase from 2024, and a 70.8% increase since 2024.

In the past 1 years, Circle Internet Group's cash and equivalents has ranged from $1.05 billion in 2024 to $2.35 billion in 2025, and is currently $2.35 billion as of their latest financial filing in 2025.

Over the last 2 years, Circle Internet Group's book value per share changed from 0.00 in 2023 to 14.14 in 2025, a change of 1,413.9%.


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Financial statements for NYSE:CRCL last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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