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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and Essex Property Trust (ESS). 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 $479.6M, roughly 1.5× Essex Property Trust). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs 17.9%, a 11.1% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 5.5%).
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.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
CRCL vs ESS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $479.6M |
| Net Profit | $214.4M | $85.7M |
| Gross Margin | — | 70.0% |
| Operating Margin | 11.0% | 31.7% |
| Net Margin | 29.0% | 17.9% |
| Revenue YoY | 5113.5% | 5.5% |
| Net Profit YoY | 202.0% | -71.6% |
| EPS (diluted) | $0.64 | $1.24 |
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 | — | $479.6M | ||
| Q3 25 | $739.8M | $473.3M | ||
| Q2 25 | $658.1M | $469.8M | ||
| Q1 25 | — | $464.6M | ||
| Q4 24 | — | $454.5M | ||
| Q3 24 | — | $450.7M | ||
| Q2 24 | $6.8M | $442.4M | ||
| Q1 24 | — | $426.9M |
| Q4 25 | — | $85.7M | ||
| Q3 25 | $214.4M | $172.7M | ||
| Q2 25 | $-482.1M | $231.5M | ||
| Q1 25 | — | $212.8M | ||
| Q4 24 | — | $301.7M | ||
| Q3 24 | — | $125.5M | ||
| Q2 24 | $32.9M | $99.0M | ||
| Q1 24 | — | $285.1M |
| Q4 25 | — | 70.0% | ||
| Q3 25 | — | 69.2% | ||
| Q2 25 | — | 70.7% | ||
| Q1 25 | — | 69.6% | ||
| Q4 24 | — | 70.0% | ||
| Q3 24 | — | 69.5% | ||
| Q2 24 | — | 70.8% | ||
| Q1 24 | — | 69.7% |
| Q4 25 | — | 31.7% | ||
| Q3 25 | 11.0% | 44.5% | ||
| Q2 25 | -49.5% | 59.5% | ||
| Q1 25 | — | 55.3% | ||
| Q4 24 | — | 67.0% | ||
| Q3 24 | — | 28.6% | ||
| Q2 24 | — | 31.1% | ||
| Q1 24 | — | 31.0% |
| Q4 25 | — | 17.9% | ||
| Q3 25 | 29.0% | 36.5% | ||
| Q2 25 | -73.3% | 49.3% | ||
| Q1 25 | — | 45.8% | ||
| Q4 24 | — | 66.4% | ||
| Q3 24 | — | 27.8% | ||
| Q2 24 | 486.5% | 22.4% | ||
| Q1 24 | — | 66.8% |
| Q4 25 | — | $1.24 | ||
| Q3 25 | $0.64 | $2.56 | ||
| Q2 25 | $-4.48 | $3.44 | ||
| Q1 25 | — | $3.16 | ||
| Q4 24 | — | $4.00 | ||
| Q3 24 | — | $1.84 | ||
| Q2 24 | $0.00 | $1.45 | ||
| Q1 24 | — | $4.25 |
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 | $76.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $5.5B |
| Total Assets | $76.8B | $13.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $76.2M | ||
| Q3 25 | $1.3B | $66.0M | ||
| Q2 25 | $1.1B | $58.7M | ||
| Q1 25 | — | $98.7M | ||
| Q4 24 | — | $66.8M | ||
| Q3 24 | — | $71.3M | ||
| Q2 24 | $457.5M | $55.2M | ||
| Q1 24 | — | $499.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | — | $6.6B |
| Q4 25 | — | $5.5B | ||
| Q3 25 | $3.0B | $5.6B | ||
| Q2 25 | $2.4B | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | $460.9M | $5.5B | ||
| Q1 24 | — | $5.5B |
| Q4 25 | — | $13.2B | ||
| Q3 25 | $76.8B | $13.2B | ||
| Q2 25 | $64.2B | $13.2B | ||
| Q1 25 | — | $13.2B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | — | $12.6B | ||
| Q2 24 | — | $12.5B | ||
| Q1 24 | — | $12.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 1.19× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $-14.7M | — |
| FCF MarginFCF / Revenue | -2.0% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | -0.05× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.1B | ||
| Q3 25 | $-10.7M | $342.6M | ||
| Q2 25 | $303.7M | $216.1M | ||
| Q1 25 | — | $281.5M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $316.2M | ||
| Q2 24 | — | $218.9M | ||
| Q1 24 | — | $314.9M |
| Q4 25 | — | — | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | $296.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -2.0% | — | ||
| Q2 25 | 45.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 12.53× | ||
| Q3 25 | -0.05× | 1.98× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 3.54× | ||
| Q3 24 | — | 2.52× | ||
| Q2 24 | — | 2.21× | ||
| Q1 24 | — | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
