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Circle Valuation Multiples

Discover revenue and EBITDA valuation multiples for Circle and similar public comparables like More Impact, Bitcoin Group, and Advanced Blockchain.

Circle Overview

About Circle

Circle Internet Group Inc is a financial technology firm engaged in digital currencies and public blockchains for payments, commerce, and financial applications. The company is the issuer of USD Coin (USDC).


Founded

2024

HQ

United States of America
Employees

n/a

Website

circle.com

Financials

Last FY Revenue $1.7B

Last FY EBITDA $274M

EV

$40.5B

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Circle Financials

In the most recent fiscal year, Circle achieved revenue of $1.7B and an EBITDA of $274M.

Circle expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Circle P&L

NTM Last FY FY 2025 FY 2026 FY 2027
Revenue XXX $1.7B XXX XXX XXX
Gross Profit XXX $395M XXX XXX XXX
Gross Margin XXX 24% XXX XXX XXX
EBITDA XXX $274M XXX XXX XXX
EBITDA Margin XXX 16% XXX XXX XXX
EBIT XXX $163M XXX XXX XXX
EBIT Margin XXX 10% XXX XXX XXX
Net Profit XXX $156M XXX XXX XXX
Net Margin XXX 9% XXX XXX XXX
Net Debt XXX n/a XXX XXX XXX

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Circle Stock Performance

As of July 30, 2025, Circle's stock price is $182.

Circle has current market cap of $41.3B, and EV of $40.5B.

See Circle trading valuation data

Circle Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$40.5B $41.3B XXX XXX XXX XXX n/a

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Circle Valuation Multiples

As of July 30, 2025, Circle has market cap of $41.3B and EV of $40.5B.

Circle's trades at 24.2x EV/Revenue multiple, and 147.8x EV/EBITDA.

Equity research analysts estimate Circle's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Circle's P/E ratio is not available.

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Circle Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $41.3B XXX $41.3B XXX XXX XXX
EV (current) $40.5B XXX $40.5B XXX XXX XXX
EV/Revenue n/a XXX 24.2x XXX XXX XXX
EV/EBITDA n/a XXX 147.8x XXX XXX XXX
EV/EBIT n/a XXX 248.8x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E n/a XXX 265.6x XXX XXX XXX
EV/FCF n/a XXX 132.7x XXX XXX XXX

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Circle Margins & Growth Rates

Circle's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

Circle's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Circle's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Circle Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth n/a XXX 42% XXX XXX XXX
EBITDA Margin n/a XXX 16% XXX XXX XXX
EBITDA Growth n/a XXX 17% XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX n/a XXX XXX XXX
Opex per Employee XXX XXX n/a XXX XXX XXX
S&M Expenses to Revenue XXX XXX 1% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 14% XXX XXX XXX

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Circle Public Comps

See public comps and valuation multiples for Blockchain & Crypto comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Phoenix Group XXX XXX XXX XXX XXX XXX
Jasmine Technology Solution XXX XXX XXX XXX XXX XXX
Advanced Blockchain XXX XXX XXX XXX XXX XXX
Bitcoin Group XXX XXX XXX XXX XXX XXX
More Impact XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Circle M&A and Investment Activity

Circle acquired  XXX companies to date.

Last acquisition by Circle was  XXXXXXXX, XXXXX XXXXX XXXXXX . Circle acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Circle

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Circle

When was Circle founded? Circle was founded in 2024.
Where is Circle headquartered? Circle is headquartered in United States of America.
Who is the CEO of Circle? Circle's CEO is Mr. Jeremy Allaire.
Is Circle publicy listed? Yes, Circle is a public company listed on NYS.
What is the stock symbol of Circle? Circle trades under CRCL ticker.
When did Circle go public? Circle went public in 2025.
Who are competitors of Circle? Similar companies to Circle include e.g. Phoenix Group, Jasmine Technology Solution, Advanced Blockchain, Bitcoin Group.
What is the current market cap of Circle? Circle's current market cap is $41.3B
Is Circle profitable? Yes, Circle is EBITDA-positive (as of the last 12 months).

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