{ "ok": true, "cik": "1876042", "ticker": "CRCL", "name": "CIRCLE INTERNET GROUP, INC.", "filings": [ { "form": "8-K", "filed": "2026-09-08", "items": [ "1.01 Entry into a Material Definitive Agreement", "3.02 Unregistered Sales of Equity Securities", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000267/0001876042-26-000267-index.htm" }, { "form": "10-Q", "filed": "2026-08-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000248/0001876042-26-000248-index.htm" }, { "form": "8-K", "filed": "2026-08-05", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000246/0001876042-26-000246-index.htm" }, { "form": "8-K", "filed": "2026-07-02", "items": [ "8.01 Other Events" ], "url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000205/0001876042-26-000205-index.htm" }, { "form": "8-K", "filed": "2026-06-12", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000192/0001876042-26-000192-index.htm" }, { "form": "8-K", "filed": "2026-05-18", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1876042/000187604226000159/0001876042-26-000159-index.htm" } ], "events12m": 9, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001876042.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1876042" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up CIRCLE INTERNET GROUP, INC. ($CRCL). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-09-08. 9 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 2746642000, "revenueGrowth1y": 0.6385605275575943, "revenueGrowthPerYear": 0.3757908535515888, "yearsOfData": 3, "operatingMargin": -0.03511014540664564, "operatingMarginPrior": 0.0997212234668633, "netMargin": -0.025310178756459707, "operatingCashFlow": 542129000, "capitalSpending": 12432000, "freeCashFlow": 529697000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 1526046000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2023-12-31", "revenue": 1450466000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 1676253000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 2746642000 } ], "totalEquity": 3329327000, "totalAssets": 78713207000, "equityRatio": 0.042296929916729224, "returnOnEquity": -0.020880496268465068, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 3292281183.7956314, "high": 4879431448.937396, "baseline": 4139672053.0562444, "n": 4599, "band": "b1" }, "ifPaceHeld": { "low": 3292281183.7956314, "high": 4879431448.937396 } }, "edgarette": "🔖 Exposure: revenue $2.7B (FY2025). Experience: revenue up 63.9% on the year, up 37.6% a year over 2 years; operating margin -3.5%, down from 10.0%. Soundness: equity 4.2% of assets, return on equity -2.1%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $3.3B and $4.9B next year (method v3, set from 4,599 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (36 filers, $50M+ revenue, finance services): operating margin -3.5% against a -6.4% median; growth 63.9% against 16.8%.", "peers": { "sic": 6199, "sicDescription": "Finance Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6199", "growth": [ 0.1678, 51 ], "opMargin": [ -0.0639, 36 ], "equityRatio": [ 0.4195, 46 ], "returnOnEquity": [ -0.0512, 41 ] }, "summary": "Circle Internet Group (CRCL) grew revenue 63.9% in FY2025 to $2.7 billion, operating margin -3.5% against a -6.4% median for finance services, equity 4.2% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
CIRCLE INTERNET GROUP, INC. against its own record and its peers
Operating marginPeer median -6.4%-3.5%Revenue, on the yearPeer median 16.8%63.9%Equity of assetsPeer median 41.9%4.2%Return on equityPeer median -5.1%-2.1%Gold tick: the median of 41–46 peers with $50M+ revenue in finance services
", "chartHorizon": null, "backtest": { "tests": 0, "hits": 0, "rate": null, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T15:24:12.124Z", "hash": "1f9f0382dc836ae2", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Circle Internet Group (CRCL) grew revenue 63.9% in FY2025 to $2.7 billion, operating margin -3.5% against a -6.4% median for finance services, equity 4.2% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 2746642000, "totalDebt": null, "cash": 1526046000 }, "experience": { "revenueGrowth1y": 0.6385605275575943, "revenueGrowthPerYear": 0.3757908535515888, "operatingMargin": -0.03511014540664564, "operatingMarginPrior": 0.0997212234668633, "netMargin": -0.025310178756459707, "freeCashFlow": 529697000 }, "soundness": { "equityRatio": 0.042296929916729224, "returnOnEquity": -0.020880496268465068, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6199, "sicDescription": "Finance Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6199", "growth": [ 0.1678, 51 ], "opMargin": [ -0.0639, 36 ], "equityRatio": [ 0.4195, 46 ], "returnOnEquity": [ -0.0512, 41 ] }, "credibility": { "auditedYears": 3, "weight": "moderate", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "range": { "low": 3292281183.7956314, "high": 4879431448.937396, "baseline": 4139672053.0562444, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 4599, "sizeBand": "b1" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 0, "hits": 0, "rate": null, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T15:24:12.124Z", "hash": "1f9f0382dc836ae2", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001876042.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1876042" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }