Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Circle Internet Group, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
1,450
1,676
2,747
General and administrative
100
137
190
Operating expenses
453
492
1,179
Operating income
270
167
-96.4
Interest expense
1.91
1.91
1.23
Other non-operating income
49.4
54.4
-6.46
Pre-tax income
319
222
-103
Income tax
47.4
64.6
-33.4
Net income to minority interests
0
0
-0.01
Net income
268
156
-69.5
EBITDA
304
218
-19.8
EPS, basic
0.95
0.33
-0.44
EPS, diluted
0.78
0.30
-0.44
Shares, basic (weighted)
47.3
54.4
159
Shares, diluted (weighted)
67.5
73
159
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
369
751
1,526
Receivables
6.42
62.9
Other current assets
5.97
12.6
Total current assets
45,165
77,801
Property, plant and equipment
18.7
22.8
Lease right-of-use assets
15.5
14.1
Goodwill
170
170
266
Intangible assets
331
411
Long-term investments
84.1
84.3
Other non-current assets
20.6
27.4
Total assets
45,834
78,713
Accounts payable
287
361
Accrued liabilities
70.3
114
Total current liabilities
44,031
75,328
Lease liabilities
13.1
12
Other non-current liabilities
21.3
25.3
Total liabilities
44,124
75,382
Paid-in capital
1,793
4,610
Retained earnings
-1,223
-1,293
Treasury stock
-2.88
-2.72
Other comprehensive income
3.64
14.5
Shareholders' equity
339
571
3,329
Minority interests
0
1.45
Total equity
339
571
3,331
Total liabilities and equity
45,834
78,713
Cash flow statement
FY2023
FY2025
FY2025
Net income
268
156
-69.5
Depreciation and amortization
34.9
50.9
76.6
Stock-based compensation
108
50.1
566
Deferred income tax
-32.9
-3.81
-2.27
Change in receivables
2.24
-4.57
-39.4
Change in payables
-124
133
81.2
Cash from operations
140
345
542
Capital expenditures
-0.65
-18.1
-12.4
Acquisitions
0
0
-7.73
Purchases of investments
-312
-99.3
0
Cash from investing
8,510
186
-84
Stock issued
1.04
1.61
51.8
Share buybacks
-8.75
0
0
Cash from financing
-20,330
19,450
31,936
Net change in cash
-11,680
19,973
32,452
Free cash flow
139
326
530
Interest paid
0.25
0.26
0.18
Income taxes paid
81
75.6
13.3
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $89.00 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
7.4%
Operating income / revenue.
EBITDA margin
11.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
13.8%
Pre-tax income / revenue.
Net margin
15.5%
Net income / revenue.
FCF margin
26.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
26.7%
Cash from operations / revenue.
Effective tax rate
-12.2%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
12.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
0.6%
Net income / average total assets.
Return on invested capital (ROIC)
9.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
7.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.5%
Capital expenditures / revenue.
D&A / revenue
3.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
63.9%
Revenue vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-157.7%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-109.1%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-144.7%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-246.7%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
57.3%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
62.3%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
483.6%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
71.7%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
117.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.03x
Current assets / current liabilities.
Quick ratio
0.02x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.02x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
2.0%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.68
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$10.82
Revenue / diluted weighted shares.
FCF per share
$2.83
Free cash flow / diluted weighted shares.
Operating cash flow per share
$2.89
Cash from operations / diluted weighted shares.
Book value per share
$13.06
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
50.1x
Market cap / net income. Only when net income is positive.
P/S
7.78x
Market cap / revenue.
P/B
6.44x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
8.08x
Market cap / tangible book value, when positive.
P/FCF
29.7x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
29.1x
Market cap / cash from operations, when positive.
EV/Sales
7.18x
Enterprise value / revenue.
EV/EBIT
96.8x
Enterprise value / operating income, when both are positive.
EV/EBITDA
65.0x
Enterprise value / EBITDA, when both are positive.
EV/FCF
27.4x
Enterprise value / free cash flow, when both are positive.
FCF yield
3.4%
Free cash flow / market cap.
Earnings yield
2.0%
Net income / market cap (the inverse of P/E).
What was Circle Internet Group, Inc.'s revenue in fiscal 2025?
Circle Internet Group, Inc. reported revenue of $2.75B for fiscal 2025, 63.9% higher than the year before.
Was Circle Internet Group, Inc. profitable in fiscal 2025?
No. It reported a net loss of $69.5M.
How much free cash flow did Circle Internet Group, Inc. generate in fiscal 2025?
Cash from operations of $542.1M minus capital expenditures of $12.4M left free cash flow of $529.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.