Circle Internet (CRCL) Stock Analysis
This is a peer-relative look at Circle Internet (CRCL): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Software & Services peers, so every number reads in context rather than in isolation.
Company Profile
| Profile Item | CRCL |
|---|---|
| Name | Circle Internet Group, Inc. Class A |
| Country/Region | United States |
| GICS Sector | Information Technology |
| GICS Industry Group | Software & Services |
| GICS Industry | Software |
| GICS Sub-Industry | Application Software |
| Market Capitalization | 17.41 billion USD |
| Currency | USD |
| Exchange | NYSE |
| Listing Date | June 5, 2025 |
| Security Type | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| Total Return (1Y) | -33.88% | -3.00% |
| Total Return (3Y, Annualized) | -- | 8.28% |
| Total Return (5Y, Annualized) | -- | -7.91% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| Volatility (1Y, Annualized) | 96.01% | 61.69% |
| Beta (5Y) | 0.84 | 1.06 |
| Max Drawdown (5Y) | -80.93% | -76.52% |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| Sharpe Ratio (1Y) | -0.40 | -0.13 |
| Sortino Ratio (1Y) | -0.61 | -0.19 |
Profitability
ROE (TTM)
Circle Internet (CRCL) posts ROE of 13.44%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.
CRCL
Software & Services industry group
13.44%
Group distribution
- Max
- 53.85%
- Q3
- 17.90%
- CRCL
- 13.44%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
Largest peers
- ORCL
- 41.19%
- PLTR
- 40.91%
- IBM
- 34.77%
- MSFT
- 34.22%
- SAP
- 18.18%
- CRCL
- 13.44%
- PANW
- 1.74%
Net Margin (TTM)
Circle Internet (CRCL) keeps 15.28% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.
CRCL
Software & Services industry group
15.28%
Group distribution
- Max
- 41.17%
- CRCL
- 15.28%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
Largest peers
- PLTR
- 50.34%
- MSFT
- 41.17%
- ORCL
- 26.36%
- SAP
- 20.41%
- IBM
- 15.99%
- CRCL
- 15.28%
- PANW
- 2.67%
Operating Margin (TTM)
Circle Internet (CRCL) turns 24.09% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.
CRCL
Software & Services industry group
24.09%
Group distribution
- Max
- 46.89%
- CRCL
- 24.09%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
Largest peers
- MSFT
- 49.76%
- PLTR
- 46.89%
- ORCL
- 35.63%
- SAP
- 29.50%
- CRCL
- 24.09%
- IBM
- 16.97%
- PANW
- 5.40%
Profitability Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| ROE (TTM) | 13.44% | 6.59% |
| ROA (TTM) | 0.28% | 2.45% |
| Net Margin (TTM) | 15.28% | 4.63% |
| Operating Margin (TTM) | 24.09% | 8.73% |
| Gross Margin (TTM) | 26.58% | 70.07% |
Growth
Revenue Growth
Circle Internet (CRCL) grew revenue 63.86%, above the industry benchmark range. Demand is expanding faster than at any typical peer, though growth that far ahead of the group is worth checking for acquisitions or other one-off contributions.
EPS Growth
Circle Internet (CRCL) grew earnings per share -640.54%, below the industry benchmark range. Per-share profits are trailing virtually every peer, which can point to margin pressure, one-off charges, or dilution.
Growth Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| Revenue Growth (YoY) | 63.86% | 14.22% |
| Revenue Growth (3Y CAGR) | 52.66% | 13.52% |
| EPS Growth (YoY) | -640.54% | 7.85% |
| EPS Growth (3Y CAGR) | -- | 18.19% |
Financial Strength
Current Ratio (MRQ)
Circle Internet (CRCL) has current ratio of 1.04, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.
CRCL
Software & Services industry group
1.04
Group distribution
- Max
- 5.11
- Q3
- 2.77
- Median
- 1.67
- CRCL
- 1.04
- Q1
- 1.01
- Min
- 0.03
Largest peers
- PLTR
- 7.10
- MSFT
- 1.23
- ORCL
- 1.17
- SAP
- 1.16
- CRCL
- 1.04
- PANW
- 0.87
- IBM
- 0.86
Debt / Equity (MRQ)
Circle Internet (CRCL) has debt-to-equity ratio of 0.00, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.
CRCL
Software & Services industry group
0.00
Group distribution
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- Q1
- 0.07
- CRCL
- 0.00
- Min
- 0.00
Largest peers
- ORCL
- 2.52
- IBM
- 1.85
- MSFT
- 0.28
- SAP
- 0.23
- PANW
- 0.09
- PLTR
- 0.02
- CRCL
- 0.00
Financial Strength Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| Current Ratio (MRQ) | 1.04 | 1.67 |
| Debt / Equity (MRQ) | 0.00 | 0.40 |
| Net Debt / EBITDA | -4.68 | 0.17 |
Dividends
Dividend Yield (TTM)
Circle Internet (CRCL) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.
CRCL
Software & Services industry group
0.00%
Group distribution
- CRCL
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Largest peers
- IBM
- 2.73%
- ORCL
- 1.74%
- SAP
- 1.03%
- MSFT
- 0.69%
- CRCL
- 0.00%
- PLTR
- 0.00%
- PANW
- 0.00%
Dividend Payout Ratio (TTM)
Circle Internet (CRCL) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.
CRCL
Software & Services industry group
0.00%
Group distribution
- CRCL
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Largest peers
- IBM
- 57.51%
- SAP
- 36.45%
- ORCL
- 31.35%
- MSFT
- 19.00%
- CRCL
- 0.00%
- PLTR
- 0.00%
- PANW
- 0.00%
Dividend Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
Circle Internet (CRCL) trades at P/E ratio of 40.89, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.
CRCL
Software & Services industry group
40.89
Group distribution
- Max
- 112.94
- Q3
- 60.32
- CRCL
- 40.89
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
Largest peers
- PANW
- 784.60
- PLTR
- 112.94
- CRCL
- 40.89
- SAP
- 29.07
- MSFT
- 27.69
- IBM
- 20.90
- ORCL
- 18.20
P/S Ratio (TTM)
Circle Internet (CRCL) trades at 5.75 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.
CRCL
Software & Services industry group
5.75
Group distribution
- Max
- 17.91
- Q3
- 8.78
- CRCL
- 5.75
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
Largest peers
- PLTR
- 53.02
- PANW
- 22.37
- MSFT
- 11.37
- SAP
- 6.84
- CRCL
- 5.75
- ORCL
- 5.04
- IBM
- 3.31
P/B Ratio (MRQ)
Circle Internet (CRCL) trades at 4.50 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.
CRCL
Software & Services industry group
4.50
Group distribution
- Max
- 16.63
- Q3
- 8.50
- CRCL
- 4.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
Largest peers
- SAP
- 73.25
- PLTR
- 34.41
- PANW
- 9.30
- MSFT
- 8.38
- IBM
- 6.52
- ORCL
- 5.68
- CRCL
- 4.50
Valuation Metrics
| Metric | Current stock: CRCL | Industry group median |
|---|---|---|
| P/E Ratio (TTM) | 40.89 | 32.91 |
| P/S Ratio (TTM) | 5.75 | 4.25 |
| P/B Ratio (MRQ) | 4.50 | 4.30 |
| Free Cash Flow Yield (TTM) | 1.43% | 3.98% |