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Circle Internet Group

CRCL NYSE Categories PDF
Financial Services · Financial - Capital Markets · United States · Updated May 11, 1:58pm
$133.15
Price
$35.4B
Market Cap
900
Employees
-1.18
Beta
Jeremy D. Allaire
CEO
Business Description

Circle Internet Group, Inc. operates as a platform, network, and market infrastructure for stablecoin and blockchain applications. The company provides a suite of stablecoins and related products that include a network utility and application platform for organizations to benefit from stablecoins and the internet financial system; and issues a U.S. dollar-denominated stablecoin. Its stablecoins network comprises circle stablecoins, tokenized funds, liquidity, payments, and developer services, as well as integration services. The company was founded in 2013 and is based in New York, New York.

Business History
Price Overview
Last updated: May 11, 2026 1:58pm (just now)
$133.15
+19.48 (+17.14%)
Day Range
$105.36 – $133.19
52-Week Range
$49.90 – $298.99
50-Day MA
$104.83
200-Day MA
$106.82
Volume
33,300,688.00
Analyst Price Targets
Low $77.00
Consensus $107.14
High $190.00
(20 analysts)
Share Structure
Outstanding 265,925,075.00
Float 181,070,101.00
Free Float 68.1%
Normal free float — 68.1% of shares trade freely, ~31.9% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-459.14
Stock Price: $133.15
EPS (Diluted): -0.29
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
5.77
Stock Price: $133.15
Total Equity: $3.33B
Shares: 242,300,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-261.84
Market Cap: $35.41B
Total Debt: $36.82M
Cash: $77.42B
EBITDA: -$14.52M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
-$58.2B
Market Cap: $35.41B
Total Debt: $36.82M
Cash: $77.42B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
5.9%
Gross Profit: $161.49M
Revenue: $2.75B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-3.3%
Operating Income: -$91.14M
Revenue: $2.75B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-2.5%
Net Income: -$69.51M
Revenue: $2.75B
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-2.6%
Net Income: -$69.51M
Total Equity: $3.33B
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-2.4%
Operating Income: -$91.14M
Tax Rate: 32.4%
Equity: $3.33B
Total Debt: $36.82M
Cash: $77.42B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
1.03
Current Assets: $77.80B
Current Liabilities: $75.33B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.01
Short-Term Debt: $36.82M
Long-Term Debt: $0.00
Total Debt: $36.82M
Total Equity: $3.33B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$11.34
Revenue: $2.75B
Shares: 242,300,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$13.74
Total Equity: $3.33B
Shares: 242,300,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$2.19
Operating CF: $542.13M
CapEx: -$12.43M
Shares: 242,300,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $133.15
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$69.51M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CRCL against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $84.9M $772.1M $1.5B $1.7B $2.7B
Cost of Revenue $110.8M $522.3M $1.0B $1.3B $2.6B
Gross Profit -$25.9M $249.7M $426.7M $395.5M $161.5M
Operating Expenses $60.2M $287.9M $157.2M $228.3M $252.6M
Operating Income -$86.1M -$38.1M $269.5M $167.2M -$91.1M
Net Income -$508.2M -$768.8M $267.6M $155.7M -$69.5M
EBITDA -$495.1M -$742.5M $355.7M $274.3M -$14.5M
EPS $-11.47 $-16.48 $5.66 $2.86 $-0.29
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $161.6M $36.7B $368.6M $751.0M $77.4B
Total Current Assets $43.6B $46.2B $25.3B $45.2B $77.8B
Total Assets $43.9B $46.7B $26.0B $45.8B $78.7B
Current Liabilities $43.5B $45.6B $24.4B $44.0B $75.3B
Long-Term Debt $904.1M $78.3M $58.5M $40.7M $0
Total Liabilities $44.7B $45.9B $24.5B $45.3B $75.4B
Total Equity -$768.4M $879.2M $1.5B $570.5M $3.3B
Retained Earnings -$883.4M -$1.7B -$1.4B -$1.2B -$1.3B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$92.3M -$72.7M $139.6M $344.6M $542.1M
Capital Expenditure -$7.9M -$18.3M -$32.9M -$39.1M -$12.4M
Free Cash Flow -$100.2M -$91.0M $106.7M $305.5M $529.7M
Acquisitions (net) -$9.3M -$42.5M $1.6M $0 -$7.7M
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 -$8.7M $0 $0
Net Change in Cash $38.6B -$6.0B -$11.7B $20.0B $775.1M
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $4.1B
$3.7B – $4.8B
 $5.4B
$5.3B – $5.4B
 $7.5B
$6.6B – $10.1B
 $7.7B
$6.7B – $10.3B
EBITDA -$1.3B
-$1.5B – -$1.1B
 -$1.7B
-$1.7B – -$1.7B
 -$2.3B
-$3.1B – -$2.0B
 -$2.4B
-$3.2B – -$2.1B
Net Income $421.4M
$348.0M – $589.1M
 $716.9M
$396.7M – $957.2M
 $1.3B
$1.1B – $1.9B
 $828.7M
$696.3M – $1.2B
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +809.6% +87.9% +15.6% +63.9%
Gross Profit Growth +1,063.7% +70.9% -7.3% -59.2%
Operating Income Growth +55.7% +807.1% -38.0% -154.5%
Net Income Growth -51.3% +134.8% -41.8% -144.7%
EBITDA Growth -50.0% +147.9% -22.9% -105.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-06 Date Rajeev V M-Exempt 3,819.00 $0.08 $306
2026-05-06 Date Rajeev V S-Sale 3,819.00 $115.00 $439,185
2026-05-06 Date Rajeev V M-Exempt 3,819.00 $0.08 $306
2026-05-04 BURNS M MICHELE S-Sale 1,666.00 $107.61 $179,278
2026-05-05 BURNS M MICHELE S-Sale 10,000.00 $120.15 $1.2M
2026-05-04 Horowitz Bradley J-Other 45.00 $0.00 $0
2026-05-01 Allaire Jeremy M-Exempt 15,194.00 $0.00 $0
2026-05-01 Allaire Jeremy F-InKind 8,404.00 $0.00 $0
2026-05-01 Allaire Jeremy M-Exempt 6,017.00 $0.00 $0
2026-05-01 Allaire Jeremy M-Exempt 6,743.00 $0.00 $0
2026-05-01 Allaire Jeremy M-Exempt 2,434.00 $0.00 $0
2026-05-01 Neville Patrick Sean M-Exempt 30,000.00 $0.00 $0
2026-05-01 Neville Patrick Sean C-Conversion 30,000.00 $0.00 $0
2026-05-01 Neville Patrick Sean M-Exempt 30,000.00 $0.08 $2,400
2026-05-01 Neville Patrick Sean C-Conversion 5,000.00 $0.00 $0
2026-05-01 Neville Patrick Sean C-Conversion 30,000.00 $0.00 $0
2026-05-01 Neville Patrick Sean C-Conversion 5,000.00 $0.00 $0
2026-05-01 Neville Patrick Sean S-Sale 30,000.00 $92.65 $2.8M
2026-05-01 Neville Patrick Sean S-Sale 5,000.00 $92.64 $463,200
2026-05-01 Tarbert Heath F-InKind 7,989.00 $90.88 $726,040
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27