🚀 VC round data is live in beta, check it out!
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
Employees
N/A
Website
Financials (LTM)
EV
$21B
Circle Financials
Circle reported last 12-month revenue of $3B and EBITDA of $593M.
In the same LTM period, Circle generated $1B in gross profit, $593M in EBITDA, and $2M in net income.
Revenue (LTM)
Circle P&L
In the most recent fiscal year, Circle reported revenue of $3B and EBITDA of $584M.
Circle expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $1B | XXX | $238M | XXX | XXX | XXX |
| Gross Margin | 40% | XXX | 9% | XXX | XXX | XXX |
| EBITDA | $593M | XXX | $584M | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| EBIT Margin | (0%) | XXX | (3%) | XXX | XXX | XXX |
| Net Profit | $2M | XXX | ($70M) | XXX | XXX | XXX |
| Net Margin | 0% | XXX | (3%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Circle Stock Performance
Circle has current market cap of $23B, and enterprise value of $21B.
Market Cap Evolution
Circle's stock price is $96.14.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $21B | $23B | 0.0% | XXX | XXX | XXX | $-0.30 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialCircle Valuation Multiples
Circle trades at 7.6x EV/Revenue multiple, and 36.1x EV/EBITDA.
EV / Revenue (LTM)
Circle Financial Valuation Multiples
As of March 27, 2026, Circle has market cap of $23B and EV of $21B.
Equity research analysts estimate Circle's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Circle has a P/E ratio of 10538.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $23B | XXX | $23B | XXX | XXX | XXX |
| EV (current) | $21B | XXX | $21B | XXX | XXX | XXX |
| EV/Revenue | 7.6x | XXX | 7.8x | XXX | XXX | XXX |
| EV/EBITDA | 36.1x | XXX | 36.7x | XXX | XXX | XXX |
| EV/EBIT | (1769.1x) | XXX | (235.2x) | XXX | XXX | XXX |
| EV/Gross Profit | 18.8x | XXX | 90.0x | XXX | XXX | XXX |
| P/E | 10538.2x | XXX | (325.7x) | XXX | XXX | XXX |
| EV/FCF | 53.3x | XXX | 44.1x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Circle Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Circle Margins & Growth Rates
Circle's revenue in the last 12 month grew by 18%.
Circle's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Circle's rule of X is 66% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Circle Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 18% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | 16% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 39% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 66% | XXX | XXX | XXX |
| S&M Expenses to Revenue | 1% | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 7% | XXX | 7% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 1% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 12% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Circle Public Comps
See public comps and valuation multiples for other Crypto & Web3 Platforms and Payment Infrastructure comps.
Valuation data powered by FactSet, Inc.
Circle M&A Activity
Circle acquired XXX companies to date.
Last acquisition by Circle was on XXXXXXXX, XXXXX. Circle acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Circle
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialCircle Investment Activity
Circle invested in XXX companies to date.
Circle made its latest investment on XXXXXXXX, XXXXX. Circle invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Circle
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Circle
| When was Circle founded? | Circle was founded in 2024. |
| Where is Circle headquartered? | Circle is headquartered in United States. |
| Who is the CEO of Circle? | Circle's CEO is Jeremy Allaire. |
| Is Circle publicly listed? | Yes, Circle is a public company listed on NYSE. |
| 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? | Circle main competitors are Kaspi.kz, Block, TaTaTu, Bullish. |
| What is the current market cap of Circle? | Circle's current market cap is $23B. |
| What is the current revenue of Circle? | Circle's last 12 months revenue is $3B. |
| What is the current revenue growth of Circle? | Circle revenue growth (NTM/LTM) is 18%. |
| What is the current EV/Revenue multiple of Circle? | Current revenue multiple of Circle is 7.6x. |
| Is Circle profitable? | Yes, Circle is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Circle? | Circle's last 12 months EBITDA is $593M. |
| What is Circle's EBITDA margin? | Circle's last 12 months EBITDA margin is 21%. |
| What is the current EV/EBITDA multiple of Circle? | Current EBITDA multiple of Circle is 36.1x. |
| What is the current FCF of Circle? | Circle's last 12 months FCF is $402M. |
| What is Circle's FCF margin? | Circle's last 12 months FCF margin is 14%. |
| What is the current EV/FCF multiple of Circle? | Current FCF multiple of Circle is 53.3x. |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.