vs
Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and Fabrinet (FN). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $739.8M, roughly 1.5× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs 9.9%, a 19.0% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 35.9%). Fabrinet produced more free cash flow last quarter ($-5.3M 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.
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
CRCL vs FN — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $1.1B |
| Net Profit | $214.4M | $112.6M |
| Gross Margin | — | 12.2% |
| Operating Margin | 11.0% | 10.1% |
| Net Margin | 29.0% | 9.9% |
| Revenue YoY | 5113.5% | 35.9% |
| Net Profit YoY | 202.0% | 30.0% |
| EPS (diluted) | $0.64 | $3.11 |
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 | — | $1.1B | ||
| Q3 25 | $739.8M | $978.1M | ||
| Q2 25 | $658.1M | $909.7M | ||
| Q1 25 | — | $871.8M | ||
| Q4 24 | — | $833.6M | ||
| Q3 24 | — | $804.2M | ||
| Q2 24 | $6.8M | $753.3M | ||
| Q1 24 | — | $731.5M |
| Q4 25 | — | $112.6M | ||
| Q3 25 | $214.4M | $95.9M | ||
| Q2 25 | $-482.1M | $87.2M | ||
| Q1 25 | — | $81.3M | ||
| Q4 24 | — | $86.6M | ||
| Q3 24 | — | $77.4M | ||
| Q2 24 | $32.9M | $81.1M | ||
| Q1 24 | — | $80.9M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | 11.9% | ||
| Q2 25 | — | 12.2% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | — | 12.3% | ||
| Q2 24 | — | 12.3% | ||
| Q1 24 | — | 12.4% |
| Q4 25 | — | 10.1% | ||
| Q3 25 | 11.0% | 9.6% | ||
| Q2 25 | -49.5% | 9.8% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | — | 9.7% |
| Q4 25 | — | 9.9% | ||
| Q3 25 | 29.0% | 9.8% | ||
| Q2 25 | -73.3% | 9.6% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | 486.5% | 10.8% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | — | $3.11 | ||
| Q3 25 | $0.64 | $2.66 | ||
| Q2 25 | $-4.48 | $2.41 | ||
| Q1 25 | — | $2.25 | ||
| Q4 24 | — | $2.38 | ||
| Q3 24 | — | $2.13 | ||
| Q2 24 | $0.00 | $2.22 | ||
| Q1 24 | — | $2.21 |
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 | $960.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $2.2B |
| Total Assets | $76.8B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $960.8M | ||
| Q3 25 | $1.3B | $968.8M | ||
| Q2 25 | $1.1B | $934.2M | ||
| Q1 25 | — | $950.7M | ||
| Q4 24 | — | $934.6M | ||
| Q3 24 | — | $908.9M | ||
| Q2 24 | $457.5M | $858.6M | ||
| Q1 24 | — | $794.0M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | $3.0B | $2.1B | ||
| Q2 25 | $2.4B | $2.0B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | $460.9M | $1.7B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | — | $3.3B | ||
| Q3 25 | $76.8B | $3.0B | ||
| Q2 25 | $64.2B | $2.8B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.2B |
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 | $46.3M |
| Free Cash FlowOCF − Capex | $-14.7M | $-5.3M |
| FCF MarginFCF / Revenue | -2.0% | -0.5% |
| Capex IntensityCapex / Revenue | 0.5% | 4.6% |
| Cash ConversionOCF / Net Profit | -0.05× | 0.41× |
| TTM Free Cash FlowTrailing 4 quarters | — | $102.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $46.3M | ||
| Q3 25 | $-10.7M | $102.6M | ||
| Q2 25 | $303.7M | $55.1M | ||
| Q1 25 | — | $74.2M | ||
| Q4 24 | — | $115.9M | ||
| Q3 24 | — | $83.2M | ||
| Q2 24 | — | $83.1M | ||
| Q1 24 | — | $100.9M |
| Q4 25 | — | $-5.3M | ||
| Q3 25 | $-14.7M | $57.3M | ||
| Q2 25 | $296.3M | $4.7M | ||
| Q1 25 | — | $45.7M | ||
| Q4 24 | — | $94.0M | ||
| Q3 24 | — | $62.9M | ||
| Q2 24 | — | $70.4M | ||
| Q1 24 | — | $87.3M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | -2.0% | 5.9% | ||
| Q2 25 | 45.0% | 0.5% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | — | 4.6% | ||
| Q3 25 | 0.5% | 4.6% | ||
| Q2 25 | 1.1% | 5.5% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 1.9% |
| Q4 25 | — | 0.41× | ||
| Q3 25 | -0.05× | 1.07× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.02× | ||
| Q1 24 | — | 1.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
Segment breakdown not available.
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
