Circle Internet Group (CRCL) Financial Ratios
6 years of historical data (2020–2025) · Financial Services · Financial - Capital Markets
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
40.48
+12% vs avg
5yr avg: 36.27
30Y Low36.3·High36.3
P/B Ratio
5.84
+1% vs avg
5yr avg: 5.77
30Y Low5.8·High5.8
ROE
↑
-3.6%
↓+99% vs avg
5yr avg: -338.5%
30Y Low-4%·High23%
Debt/EBITDA
↓
N/A
—
5yr avg: 0.19
30Y Low0.2·High0.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CRCL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Circle Internet Group currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 40.5x P/FCF, 12% above the 5-year average of 36.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $21.4B | $19.2B | — | — | — | — | — |
| Enterprise Value | $-55935387941 | $-58165730000 | — | — | — | — | — |
| P/E Ratio → | -276.66 | — | — | — | — | — | — |
| P/S Ratio | 7.81 | 7.00 | — | — | — | — | — |
| P/B Ratio | 5.84 | 5.77 | — | — | — | — | — |
| P/FCF | 40.48 | 36.27 | — | — | — | — | — |
| P/OCF | 39.56 | 35.44 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
CRCL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -21.18 | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — |
| EV / FCF | — | -109.81 | — | — | — | — | — |
CRCL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Circle Internet Group earns an operating margin of -3.3%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 18.6% to -3.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -3.6% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 8.7% | 8.7% | 23.6% | 29.4% | 32.3% | -30.5% | -46.0% |
| Operating Margin | -3.3% | -3.3% | 10.0% | 18.6% | -4.9% | -101.4% | -200.1% |
| Net Profit Margin | -2.5% | -2.5% | 9.3% | 18.4% | -99.6% | -598.8% | 24.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -3.6% | -3.6% | 15.3% | 22.8% | -1388.4% | — | — |
| ROA | -0.1% | -0.1% | 0.4% | 0.7% | -1.7% | -2.1% | 0.1% |
| ROIC | -3.4% | -3.4% | 11.7% | 16.2% | -5.1% | -40.4% | — |
| ROCE | -3.5% | -3.5% | 9.9% | 20.0% | -4.9% | -36.7% | -58.9% |
CRCL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $77.4B exceeds total debt of $37M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.07 | 0.04 | 0.09 | — | — |
| Debt / EBITDA | — | — | 0.19 | 0.20 | — | — | — |
| Net Debt / Equity | — | -23.23 | -1.24 | -0.21 | -41.60 | — | — |
| Net Debt / EBITDA | — | — | -3.26 | -1.01 | — | — | — |
| Debt / FCF | — | -146.08 | -2.33 | -2.89 | — | — | — |
| Interest Coverage | -82.93 | -82.93 | 117.25 | 167.81 | -281.60 | -104.59 | -4.11 |
Net cash position: cash ($77.4B) exceeds total debt ($37M)
CRCL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.03x means Circle Internet Group can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.03 | 1.03 | 1.03 | 1.04 | 1.01 | 1.00 | 1.00 |
| Quick Ratio | 1.03 | 1.03 | 1.03 | 1.04 | 1.01 | 1.00 | 1.00 |
| Cash Ratio | 1.03 | 1.03 | 0.02 | 0.02 | 0.80 | 0.00 | 0.01 |
| Asset Turnover | — | 0.03 | 0.04 | 0.06 | 0.02 | 0.00 | 0.00 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — |
CRCL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Circle Internet Group does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | 2.5% | 2.8% | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — |
| Shares Outstanding | — | $242M | $73M | $68M | $47M | $44M | $44M |
Peer Comparison
Compare CRCL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CRCLYou | $21B | -276.7 | — | 40.5 | 8.7% | -3.3% | -3.6% | -3.4% | — |
 COIN | $43B | 36.7 | 24.4 | 17.7 | 74.6% | 20.0% | 10.1% | 5.7% | 4.8 |
 MSTR | $38B | -7.4 | — | — | 68.7% | -1140.8% | -11.6% | -9.9% | — |
 HOOD | $97B | 52.8 | 49.8 | 60.0 | 83.3% | 46.8% | 22.0% | 7.9% | 7.1 |
 SOFI | $23B | 45.9 | 26.0 | — | 75.1% | 11.0% | 5.7% | 3.6% | 2.4 |
 PYPL | $37B | 7.9 | 5.6 | 6.7 | 46.6% | 18.3% | 25.7% | 15.0% | 1.4 |
 V | $628B | 32.1 | 25.1 | 29.1 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
 MA | $434B | 29.6 | 21.5 | 25.6 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
 AFRM | $25B | 492.8 | 225.8 | 40.9 | 67.5% | -2.7% | 1.8% | -0.7% | 57.0 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 AMZN | $2.6T | 34.1 | 18.5 | 341.6 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 6 years · Updated daily
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CRCL — Frequently Asked Questions
Quick answers to the most common questions about buying CRCL stock.
What is Circle Internet Group's P/E ratio?
Circle Internet Group's current P/E ratio is -276.7x. This places it at the 50th percentile of its historical range.
What is Circle Internet Group's ROE?
Circle Internet Group's return on equity (ROE) is -3.6%. The historical average is 11.5%.
Is CRCL stock overvalued?
Based on historical data, Circle Internet Group is trading at a P/E of -276.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Circle Internet Group's profit margins?
Circle Internet Group has 8.7% gross margin and -3.3% operating margin.