Reading the tape
NYSE: CRCL
Circle Internet Group
Financial Services · Financial - Capital Markets
Market Cap
$31.79B
52w High
$298.99
52w Low
$49.90
P/E
-416.67
Volume
32.09M
Outstanding Shares
265.93M
Price vs Fundamentals
Why The Stock Is Moving
Fundamentals are supporting the moveModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 285.58%Revenue (YoY): 63.86%FCF (YoY): 73.4%
What changed
The stock rose 285.58% over the last year. Revenue grew 63.86% year over year. Operating margin moved from 9.97% to -3.32%. Free cash flow grew 73.4% year over year.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum. The operating data is doing enough work that the move does not need an overvaluation story to explain it.
What would invalidate this read
Operating margin is at -3.32%. Revenue grew 63.86% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Company profile
Circle Internet Group, Inc. operates as a platform, network, and market infrastructure for stablecoin and blockchain applications.
CEOJeremy D. Allaire
SectorFinancial Services
IndustryFinancial - Capital Markets
Employees900
IPO dateJun 4, 2025
Valuation
Forward P/E—
EV/EBITDA4,007.28
Enterprise value-$58.17B
Price / Book9.55
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth76.92%
Gross margin7.74%▼75.08%vs FY2024
Operating margin-3.46%▼133.28%vs FY2024
ROE-2.09%▼107.65%vs FY2024
Analyst consensus
RatingBuy
Target price$107.14▼10.37%
6
Buy
3
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 11, 2026
Q2 FY26 · EPS est $0.15 · Revenue est $715.37M
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