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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and Diversified Energy Co (DEC). Click either name above to swap in a different company.
Circle Internet Group, Inc. is the larger business by last-quarter revenue ($739.8M vs $666.5M, roughly 1.1× Diversified Energy Co). Diversified Energy Co runs the higher net margin — 29.3% vs 29.0%, a 0.3% gap on every dollar of revenue. Diversified Energy Co produced more free cash flow last quarter ($280.0M vs $-14.7M).
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.
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.
CRCL vs DEC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $666.5M |
| Net Profit | $214.4M | $195.5M |
| Gross Margin | — | — |
| Operating Margin | 11.0% | 37.6% |
| Net Margin | 29.0% | 29.3% |
| Revenue YoY | 5113.5% | — |
| Net Profit YoY | 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.
| Q4 25 | — | $666.5M | ||
| Q3 25 | $739.8M | $499.8M | ||
| Q2 25 | $658.1M | $600.3M | ||
| Q2 24 | $6.8M | — |
| Q4 25 | — | $195.5M | ||
| Q3 25 | $214.4M | $171.1M | ||
| Q2 25 | $-482.1M | $297.7M | ||
| Q2 24 | $32.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 44.7% | ||
| Q2 24 | — | — |
| Q4 25 | — | 37.6% | ||
| Q3 25 | 11.0% | 36.2% | ||
| Q2 25 | -49.5% | 48.5% | ||
| Q2 24 | — | — |
| Q4 25 | — | 29.3% | ||
| Q3 25 | 29.0% | 34.2% | ||
| Q2 25 | -73.3% | 49.6% | ||
| Q2 24 | 486.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | $0.64 | $2.14 | ||
| Q2 25 | $-4.48 | $3.67 | ||
| Q2 24 | $0.00 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $29.7M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $3.0B | $984.1M |
| Total Assets | $76.8B | $6.2B |
| Debt / EquityLower = less leverage | — | 2.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $29.7M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.1B | $23.7M | ||
| Q2 24 | $457.5M | — |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — |
| Q4 25 | — | $984.1M | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.4B | $727.7M | ||
| Q2 24 | $460.9M | — |
| Q4 25 | — | $6.2B | ||
| Q3 25 | $76.8B | — | ||
| Q2 25 | $64.2B | $5.7B | ||
| Q2 24 | — | — |
| Q4 25 | — | 2.76× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — |
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 | $-10.7M | $464.6M |
| Free Cash FlowOCF − Capex | $-14.7M | $280.0M |
| FCF MarginFCF / Revenue | -2.0% | 42.0% |
| Capex IntensityCapex / Revenue | 0.5% | 27.7% |
| Cash ConversionOCF / Net Profit | -0.05× | 2.38× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $464.6M | ||
| Q3 25 | $-10.7M | — | ||
| Q2 25 | $303.7M | $264.1M | ||
| Q2 24 | — | — |
| Q4 25 | — | $280.0M | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | $296.3M | — | ||
| Q2 24 | — | — |
| Q4 25 | — | 42.0% | ||
| Q3 25 | -2.0% | — | ||
| Q2 25 | 45.0% | — | ||
| Q2 24 | — | — |
| Q4 25 | — | 27.7% | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 1.1% | — | ||
| Q2 24 | — | — |
| Q4 25 | — | 2.38× | ||
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | 0.89× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
