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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
M/I HOMES, INC. is the larger business by last-quarter revenue ($1.1B vs $739.8M, roughly 1.6× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs 5.6%, a 23.4% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs -4.8%). M/I HOMES, INC. produced more free cash flow last quarter ($-13.0M 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.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
CRCL vs MHO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $1.1B |
| Net Profit | $214.4M | $64.0M |
| Gross Margin | — | 17.4% |
| Operating Margin | 11.0% | 6.5% |
| Net Margin | 29.0% | 5.6% |
| Revenue YoY | 5113.5% | -4.8% |
| Net Profit YoY | 202.0% | -52.1% |
| EPS (diluted) | $0.64 | $2.42 |
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 | $1.1B | ||
| Q2 25 | $658.1M | $1.2B | ||
| Q1 25 | — | $976.1M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $6.8M | $1.1B | ||
| Q1 24 | — | $1.0B |
| Q4 25 | — | $64.0M | ||
| Q3 25 | $214.4M | $106.5M | ||
| Q2 25 | $-482.1M | $121.2M | ||
| Q1 25 | — | $111.2M | ||
| Q4 24 | — | $133.5M | ||
| Q3 24 | — | $145.4M | ||
| Q2 24 | $32.9M | $146.7M | ||
| Q1 24 | — | $138.1M |
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 27.9% | ||
| Q1 24 | — | 27.1% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | 11.0% | 12.0% | ||
| Q2 25 | -49.5% | 13.4% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | — | 16.8% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | — | 5.6% | ||
| Q3 25 | 29.0% | 9.4% | ||
| Q2 25 | -73.3% | 10.4% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 11.1% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | 486.5% | 13.2% | ||
| Q1 24 | — | 13.2% |
| Q4 25 | — | $2.42 | ||
| Q3 25 | $0.64 | $3.92 | ||
| Q2 25 | $-4.48 | $4.42 | ||
| Q1 25 | — | $3.98 | ||
| Q4 24 | — | $4.71 | ||
| Q3 24 | — | $5.10 | ||
| Q2 24 | $0.00 | $5.12 | ||
| Q1 24 | — | $4.78 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $3.2B |
| Total Assets | $76.8B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $457.5M | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $3.2B | ||
| Q3 25 | $3.0B | $3.1B | ||
| Q2 25 | $2.4B | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | $460.9M | $2.7B | ||
| Q1 24 | — | $2.6B |
| Q4 25 | — | $4.8B | ||
| Q3 25 | $76.8B | $4.8B | ||
| Q2 25 | $64.2B | $4.7B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.2B |
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 | $-8.7M |
| Free Cash FlowOCF − Capex | $-14.7M | $-13.0M |
| FCF MarginFCF / Revenue | -2.0% | -1.1% |
| Capex IntensityCapex / Revenue | 0.5% | 0.4% |
| Cash ConversionOCF / Net Profit | -0.05× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.7M | ||
| Q3 25 | $-10.7M | $43.4M | ||
| Q2 25 | $303.7M | $37.8M | ||
| Q1 25 | — | $64.9M | ||
| Q4 24 | — | $104.4M | ||
| Q3 24 | — | $-67.9M | ||
| Q2 24 | — | $27.5M | ||
| Q1 24 | — | $115.8M |
| Q4 25 | — | $-13.0M | ||
| Q3 25 | $-14.7M | $42.0M | ||
| Q2 25 | $296.3M | $35.1M | ||
| Q1 25 | — | $63.5M | ||
| Q4 24 | — | $102.3M | ||
| Q3 24 | — | $-68.5M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $115.5M |
| Q4 25 | — | -1.1% | ||
| Q3 25 | -2.0% | 3.7% | ||
| Q2 25 | 45.0% | 3.0% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | -6.0% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 11.0% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | 0.5% | 0.1% | ||
| Q2 25 | 1.1% | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | -0.14× | ||
| Q3 25 | -0.05× | 0.41× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | -0.47× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | — | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
Segment breakdown not available.
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
