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Earnings transcript
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CRCL
Circle Internet Group
$66.14
3.13
(4.97%)
| Exchange: | NYSE |
| Market Cap: | 17.679B |
| Shares Outstanding: | 44.303M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Financial – Capital Markets | |||||
| CEO: | Jeremy D. Allaire | |||||
| Full Time Employees: | 1100 | |||||
| Address: |
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| Website: | https://www.circle.com |
Circle Internet Group, Inc. establishes and maintains the core infrastructure for stablecoin and blockchain-based applications, functioning as a foundational platform and network for this innovative financial technology. The company offers an extensive array of stablecoin products and services, empowering organizations to harness the benefits of digital currencies and the evolving internet-driven financial ecosystem. Notably, it is a prominent issuer of a stablecoin pegged to the U.S. dollar. Its robust digital asset network encompasses proprietary Circle stablecoins, tokenized investment funds, liquidity provision, payment processing solutions, and comprehensive support for both developers and system integration. Founded in 2013, the firm maintains its headquarters in New York, New York.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,450,466 | 1,676,253 | 2,746,642 |
| Gross Profit | 426,687 | 395,479 | 238,113 |
| EBITDA | 355,748 | 274,334 | -25,040 |
| Operating Income | 269,528 | 167,158 | -91,142 |
| Net Income | 267,562 | 155,667 | -69,508 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 25,996,583 | 45,834,409 | 78,713,207 |
| Total Liabilities | 25,657,112 | 45,263,880 | 75,382,434 |
| Total Stockholders Equity | 339,471 | 570,529 | 3,329,327 |
| Total Debt | 58,487 | 40,717 | 36,821 |
| Cash and Cash Equivalents | 368,623 | 750,981 | 77,416,941 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 139,568 | 344,576 | 542,129 |
| Capital Expenditure | -32,862 | -39,098 | 0 |
| Free Cash Flow | 106,706 | 305,478 | 542,129 |
| Net Income | 267,562 | 155,667 | -69,518 |
| Net Change in Cash | -11,679,681 | 19,973,445 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 6,451,182.682 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 10,696,642.503 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 7,789,200 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | -3,341,583.738 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | -2,015,320.895 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | -2,433,311.578 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 722,654.906 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 1,381,919.287 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 930,432.003 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 1,292,636.062 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 2,143,307.130 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 1,560,737.203 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 3.840 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 5.700 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 2.980 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 6 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 4 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Financial Performance Metrics: CRCL demonstrates robust revenue growth and consistent net income increases over recent quarters, as reflected in the Income Statements data. Positive trends in operating cash flow and free cash flow from the Cash Flow Statements indicate efficient capital management and operational strength.
- Favorable Valuation Metrics: The current price-to-earnings (P/E) ratio (from Key Metrics) and forward P/E estimates (from Forward P/E Ratios) suggest that CRCL is reasonably valued compared to industry averages (from Industry and Sector data), potentially indicating undervaluation relative to peers.
- Solid Balance Sheet: High current and quick ratios (from Key Metrics) reflect strong liquidity, while a manageable debt-to-equity ratio indicates a balanced capital structure, as seen in the Balance Sheet data, providing resilience against financial stress.
- Positive Industry Positioning: CRCL benefits from favorable sector performance trends (from Performance and Industry and Sector data), with its industry showing consistent growth over 1-year and 5-year periods, positioning the company well within a thriving market segment.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates CRCL intrinsic value between $7.37 – $10.23 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about CRCL valuation
Is Circle Internet Group (CRCL) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Circle Internet Group (CRCL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is CRCL a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CRCL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is CRCL’s P/E ratio?
You can see CRCL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for CRCL?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is CRCL a good long-term investment?
Whether CRCL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
CRCL
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Daily snapshot
4.97
Trading Metrics:
| Open: | 70.66 | Previous Close: | 63.01 | |
| Day Low: | 65.07 | Day High: | 72.86 | |
| Year Low: | 49.9 | Year High: | 262.97 | |
| Price Avg 50: | 93.23 | Price Avg 200: | 95.62 | |
| Volume: | 35.158M | Average Volume: | 14.698M |
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Login — it's freeCRCL full analysis
Welcome to MARKETSNAP’s SWOT analysis for Circle Inc. (ticker: CRCL), where we dive deep into what makes this company tick and whether it’s a solid pick for your long-term portfolio. If you’re looking to build wealth through smart investments, stick around as we break down the strengths, weaknesses, opportunities, and threats for Circle Inc., a player in the tech-driven financial services space. Let’s get started with a quick overview of who they are and what’s been happening with them lately,…
