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Side-by-side financial comparison of Brookfield Infrastructure Corp (BIPC) and Circle Internet Group, Inc. (CRCL). Click either name above to swap in a different company.
Brookfield Infrastructure Corp is the larger business by last-quarter revenue ($866.0M vs $739.8M, roughly 1.2× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs -35.7%, a 64.7% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs -4.6%).
Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.
Circle is a payments technology company. Funded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.
BIPC vs CRCL — Head-to-Head
Income Statement — Q2 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $866.0M | $739.8M |
| Net Profit | $-309.0M | $214.4M |
| Gross Margin | 65.0% | — |
| Operating Margin | 62.7% | 11.0% |
| Net Margin | -35.7% | 29.0% |
| Revenue YoY | -4.6% | 5113.5% |
| Net Profit YoY | -148.1% | 202.0% |
| EPS (diluted) | — | $0.64 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | — | $739.8M | ||
| Q2 25 | $866.0M | $658.1M | ||
| Q2 24 | $908.0M | $6.8M | ||
| Q2 23 | $538.0M | — | ||
| Q2 22 | $479.0M | — |
| Q3 25 | — | $214.4M | ||
| Q2 25 | $-309.0M | $-482.1M | ||
| Q2 24 | $643.0M | $32.9M | ||
| Q2 23 | $-154.0M | — | ||
| Q2 22 | $842.0M | — |
| Q3 25 | — | — | ||
| Q2 25 | 65.0% | — | ||
| Q2 24 | 63.8% | — | ||
| Q2 23 | 72.3% | — | ||
| Q2 22 | 72.7% | — |
| Q3 25 | — | 11.0% | ||
| Q2 25 | 62.7% | -49.5% | ||
| Q2 24 | 61.9% | — | ||
| Q2 23 | 69.1% | — | ||
| Q2 22 | 69.1% | — |
| Q3 25 | — | 29.0% | ||
| Q2 25 | -35.7% | -73.3% | ||
| Q2 24 | 70.8% | 486.5% | ||
| Q2 23 | -28.6% | — | ||
| Q2 22 | 175.8% | — |
| Q3 25 | — | $0.64 | ||
| Q2 25 | — | $-4.48 | ||
| Q2 24 | — | $0.00 | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $3.0B |
| Total Assets | $23.9B | $76.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $1.3B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q2 24 | $466.0M | $457.5M | ||
| Q2 23 | $356.0M | — | ||
| Q2 22 | $512.0M | — |
| Q3 25 | — | $3.0B | ||
| Q2 25 | $2.2B | $2.4B | ||
| Q2 24 | $3.5B | $460.9M | ||
| Q2 23 | $-764.0M | — | ||
| Q2 22 | $-1.1B | — |
| Q3 25 | — | $76.8B | ||
| Q2 25 | $23.9B | $64.2B | ||
| Q2 24 | $23.7B | — | ||
| Q2 23 | $11.0B | — | ||
| Q2 22 | $10.0B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $478.0M | $-10.7M |
| Free Cash FlowOCF − Capex | — | $-14.7M |
| FCF MarginFCF / Revenue | — | -2.0% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | -0.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $-10.7M | ||
| Q2 25 | $478.0M | $303.7M | ||
| Q2 24 | $511.0M | — | ||
| Q2 23 | $265.0M | — | ||
| Q2 22 | $232.0M | — |
| Q3 25 | — | $-14.7M | ||
| Q2 25 | — | $296.3M | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | -2.0% | ||
| Q2 25 | — | 45.0% | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 1.1% | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | — | ||
| Q2 24 | 0.79× | — | ||
| Q2 23 | — | — | ||
| Q2 22 | 0.28× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
