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CRCL vs. SAP: Circle Internet vs. SAP Stock Comparison

How do Circle Internet (CRCL) and SAP (SAP) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Circle Internet (CRCL) and SAP (SAP) are both classified in the Application Software sub-industry within the broader Software industry, placing them in the closest GICS peer bucket.

SAP (SAP) carries decades of public-market history since September 18, 1995, while Circle Internet (CRCL) listed on June 5, 2025 — long-window comparisons have far more historical data on the SAP side.

Circle Internet (CRCL) trades as ordinary local shares, while SAP (SAP) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Circle Internet (CRCL) and SAP (SAP)
Profile ItemCRCLSAP
NameCircle Internet Group, Inc. Class ASAP SE Sponsored ADR
Country/RegionUnited StatesGermany
GICS SectorInformation TechnologyInformation Technology
GICS Industry GroupSoftware & ServicesSoftware & Services
GICS IndustrySoftwareSoftware
GICS Sub-IndustryApplication SoftwareApplication Software
Market Capitalization17.41 billion USD269.45 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateJune 5, 2025September 18, 1995
Security TypeCommon StockADR

Price Performance

Cumulative Growth

CRCL
SAP
GSPC
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Circle Internet (CRCL) vs. SAP (SAP), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Circle Internet (CRCL) and SAP (SAP). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Circle Internet (CRCL) and SAP (SAP). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
Total Return (1Y)-33.88%-3.87%
Total Return (3Y, Annualized)--20.21%
Total Return (5Y, Annualized)--11.79%

Risk Profile

Drawdown History

CRCL
SAP
GSPC
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Circle Internet (CRCL) vs. SAP (SAP), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Circle Internet (CRCL) and SAP (SAP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
Volatility (1Y, Annualized)96.01%39.05%
Beta (5Y)0.841.09
Max Drawdown (5Y)-80.93%-52.26%
Avg. Volume (3M)12.74M2.27M

Risk-Adjusted Performance

Risk-Return Positioning

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CRCL and SAP are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
Sharpe Ratio (1Y)-0.40-0.21
Sortino Ratio (1Y)-0.61-0.29

Profitability

ROE (TTM)

SAP (SAP) at 18.18% sits in the top ROE quartile, while Circle Internet (CRCL) at 13.44% is closer to the peer norm — stronger capital efficiency for SAP.

CRCL

Software & Services industry group

13.44%

Max
53.85%
Q3
17.90%
CRCL
13.44%
Median
6.59%
Q1
-9.59%
Min
-50.52%

SAP

Software & Services industry group

18.18%

Max
53.85%
SAP
18.18%
Q3
17.90%
Median
6.59%
Q1
-9.59%
Min
-50.52%
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

SAP (SAP) at 20.41% retains a top-quartile share of revenue as profit, ahead of Circle Internet (CRCL) at 15.28%, which keeps about the industry-typical share.

CRCL

Software & Services industry group

15.28%

Max
41.17%
CRCL
15.28%
Q3
15.28%
Median
4.63%
Q1
-5.42%
Min
-33.17%

SAP

Software & Services industry group

20.41%

Max
41.17%
SAP
20.41%
Q3
15.28%
Median
4.63%
Q1
-5.42%
Min
-33.17%
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Both Circle Internet (CRCL) at 24.09% and SAP (SAP) at 29.50% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

CRCL

Software & Services industry group

24.09%

Max
46.89%
CRCL
24.09%
Q3
17.64%
Median
8.73%
Q1
-2.13%
Min
-30.45%

SAP

Software & Services industry group

29.50%

Max
46.89%
SAP
29.50%
Q3
17.64%
Median
8.73%
Q1
-2.13%
Min
-30.45%
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
ROE (TTM)13.44%18.18%
ROA (TTM)0.28%9.91%
Net Margin (TTM)15.28%20.41%
Operating Margin (TTM)24.09%29.50%
Gross Margin (TTM)26.58%73.58%

Growth

Revenue Growth

Circle Internet (CRCL) at 63.86% clears its industry range for revenue growth, far stronger top-line momentum than SAP (SAP) at 7.68%, which is closer to a typical peer reading.

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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their Revenue Growth across different time periods.

EPS Growth

SAP (SAP) at 130.19% sits in the top EPS growth quartile, while Circle Internet (CRCL) at -640.54% falls below its industry range — a large difference in per-share earnings trajectories.

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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
Revenue Growth (YoY)63.86%7.68%
Revenue Growth (3Y CAGR)52.66%7.63%
EPS Growth (YoY)-640.54%130.19%
EPS Growth (3Y CAGR)--46.25%

Financial Strength

Current Ratio (MRQ)

Both Circle Internet (CRCL) at 1.04 and SAP (SAP) at 1.16 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CRCL

Software & Services industry group

1.04

Max
5.11
Q3
2.77
Median
1.67
CRCL
1.04
Q1
1.01
Min
0.03

SAP

Software & Services industry group

1.16

Max
5.11
Q3
2.77
Median
1.67
SAP
1.16
Q1
1.01
Min
0.03
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Circle Internet (CRCL) at 0.00 keeps leverage in the lower industry quartile, while SAP (SAP) at 0.23 runs a more typical debt-to-equity mix.

CRCL

Software & Services industry group

0.00

Max
2.52
Q3
1.13
Median
0.40
Q1
0.07
CRCL
0.00
Min
0.00

SAP

Software & Services industry group

0.23

Max
2.52
Q3
1.13
Median
0.40
SAP
0.23
Q1
0.07
Min
0.00
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
Current Ratio (MRQ)1.041.16
Debt / Equity (MRQ)0.000.23
Net Debt / EBITDA-4.68-0.03

Dividends

Dividend Yield (TTM)

Circle Internet (CRCL) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile SAP (SAP) reports a yield of 1.03%, ranking against industry peers normally.

CRCL

Software & Services industry group

0.00%

CRCL
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

SAP

Software & Services industry group

1.03%

SAP
1.03%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Circle Internet (CRCL) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile SAP (SAP) reports a payout of 36.45%, ranking against industry peers normally.

CRCL

Software & Services industry group

0.00%

CRCL
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

SAP

Software & Services industry group

36.45%

SAP
36.45%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
Dividend Yield (TTM)0.00%1.03%
Dividend Payout Ratio (TTM)0.00%36.45%

Valuation

P/E Ratio (TTM)

Both Circle Internet (CRCL) at 40.89 and SAP (SAP) at 29.07 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CRCL

Software & Services industry group

40.89

Max
112.94
Q3
60.32
CRCL
40.89
Median
32.91
Q1
18.77
Min
6.69

SAP

Software & Services industry group

29.07

Max
112.94
Q3
60.32
Median
32.91
SAP
29.07
Q1
18.77
Min
6.69
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their P/E ratio against the Software & Services industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Circle Internet (CRCL) at 5.75 and SAP (SAP) at 6.84 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CRCL

Software & Services industry group

5.75

Max
17.91
Q3
8.78
CRCL
5.75
Median
4.25
Q1
2.23
Min
0.02

SAP

Software & Services industry group

6.84

Max
17.91
Q3
8.78
SAP
6.84
Median
4.25
Q1
2.23
Min
0.02
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Circle Internet (CRCL) at 4.50 sits near its industry’s typical P/B ratio, while SAP (SAP) at 73.25 prices above its benchmark range — SAP looks rich relative to book.

CRCL

Software & Services industry group

4.50

Max
16.63
Q3
8.50
CRCL
4.50
Median
4.30
Q1
1.92
Min
-3.90

SAP

Software & Services industry group

73.25

SAP
73.25
Max
16.63
Q3
8.50
Median
4.30
Q1
1.92
Min
-3.90
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Circle Internet (CRCL) vs. SAP (SAP): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Circle Internet (CRCL) and SAP (SAP)
MetricCRCLSAP
P/E Ratio (TTM)40.8929.07
P/S Ratio (TTM)5.756.84
P/B Ratio (MRQ)4.5073.25
Free Cash Flow Yield (TTM)1.43%3.73%