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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and MSC INDUSTRIAL DIRECT CO INC (MSM). Click either name above to swap in a different company.
MSC INDUSTRIAL DIRECT CO INC is the larger business by last-quarter revenue ($965.7M vs $739.8M, roughly 1.3× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs 5.4%, a 23.6% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 4.0%). MSC INDUSTRIAL DIRECT CO INC produced more free cash flow last quarter ($7.4M 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.
MSC Industrial Direct Co., Inc (MSC), through its subsidiaries, primarily MSC Industrial Supply Co., is one of the largest industrial equipment distributors in the United States, distributing more than 1.5 million metalworking and other industrial products.
CRCL vs MSM — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $965.7M |
| Net Profit | $214.4M | $51.8M |
| Gross Margin | — | 40.7% |
| Operating Margin | 11.0% | 7.9% |
| Net Margin | 29.0% | 5.4% |
| Revenue YoY | 5113.5% | 4.0% |
| Net Profit YoY | 202.0% | 11.1% |
| EPS (diluted) | $0.64 | $0.93 |
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 | — | $965.7M | ||
| Q3 25 | $739.8M | $978.2M | ||
| Q2 25 | $658.1M | $971.1M | ||
| Q4 24 | — | $928.5M | ||
| Q2 24 | $6.8M | $979.4M | ||
| Q1 24 | — | $935.3M | ||
| Q4 23 | — | $954.0M | ||
| Q3 23 | — | $1.0B |
| Q4 25 | — | $51.8M | ||
| Q3 25 | $214.4M | $56.5M | ||
| Q2 25 | $-482.1M | $56.8M | ||
| Q4 24 | — | $46.6M | ||
| Q2 24 | $32.9M | $71.7M | ||
| Q1 24 | — | $61.8M | ||
| Q4 23 | — | $69.3M | ||
| Q3 23 | — | $87.6M |
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | 40.4% | ||
| Q2 25 | — | 41.0% | ||
| Q4 24 | — | 40.7% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 41.5% | ||
| Q4 23 | — | 41.2% | ||
| Q3 23 | — | 40.5% |
| Q4 25 | — | 7.9% | ||
| Q3 25 | 11.0% | 8.6% | ||
| Q2 25 | -49.5% | 8.5% | ||
| Q4 24 | — | 7.8% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 9.7% | ||
| Q4 23 | — | 10.6% | ||
| Q3 23 | — | 11.4% |
| Q4 25 | — | 5.4% | ||
| Q3 25 | 29.0% | 5.8% | ||
| Q2 25 | -73.3% | 5.9% | ||
| Q4 24 | — | 5.0% | ||
| Q2 24 | 486.5% | 7.3% | ||
| Q1 24 | — | 6.6% | ||
| Q4 23 | — | 7.3% | ||
| Q3 23 | — | 8.5% |
| Q4 25 | — | $0.93 | ||
| Q3 25 | $0.64 | $1.02 | ||
| Q2 25 | $-4.48 | $1.02 | ||
| Q4 24 | — | $0.83 | ||
| Q2 24 | $0.00 | $1.27 | ||
| Q1 24 | — | $1.10 | ||
| Q4 23 | — | $1.22 | ||
| Q3 23 | — | $1.56 |
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 | $40.3M |
| Total DebtLower is stronger | — | $214.1M |
| Stockholders' EquityBook value | $3.0B | $1.4B |
| Total Assets | $76.8B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $40.3M | ||
| Q3 25 | $1.3B | $56.2M | ||
| Q2 25 | $1.1B | $71.7M | ||
| Q4 24 | — | $57.3M | ||
| Q2 24 | $457.5M | $25.9M | ||
| Q1 24 | — | $22.2M | ||
| Q4 23 | — | $25.8M | ||
| Q3 23 | — | $50.1M |
| Q4 25 | — | $214.1M | ||
| Q3 25 | — | $168.8M | ||
| Q2 25 | — | $285.0M | ||
| Q4 24 | — | $289.9M | ||
| Q2 24 | — | $299.8M | ||
| Q1 24 | — | $294.5M | ||
| Q4 23 | — | $294.4M | ||
| Q3 23 | — | $224.4M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $3.0B | $1.4B | ||
| Q2 25 | $2.4B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q2 24 | $460.9M | $1.4B | ||
| Q1 24 | — | $1.4B | ||
| Q4 23 | — | $1.4B | ||
| Q3 23 | — | $1.5B |
| Q4 25 | — | $2.5B | ||
| Q3 25 | $76.8B | $2.5B | ||
| Q2 25 | $64.2B | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.5B | ||
| Q4 23 | — | $2.5B | ||
| Q3 23 | — | $2.5B |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.21× | ||
| Q4 24 | — | 0.21× | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | 0.21× | ||
| Q4 23 | — | 0.21× | ||
| Q3 23 | — | 0.15× |
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 | $29.4M |
| Free Cash FlowOCF − Capex | $-14.7M | $7.4M |
| FCF MarginFCF / Revenue | -2.0% | 0.8% |
| Capex IntensityCapex / Revenue | 0.5% | 2.3% |
| Cash ConversionOCF / Net Profit | -0.05× | 0.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $29.4M | ||
| Q3 25 | $-10.7M | — | ||
| Q2 25 | $303.7M | $151.6M | ||
| Q4 24 | — | $101.9M | ||
| Q2 24 | — | $143.5M | ||
| Q1 24 | — | $78.7M | ||
| Q4 23 | — | $81.2M | ||
| Q3 23 | — | $132.5M |
| Q4 25 | — | $7.4M | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | $296.3M | $100.7M | ||
| Q4 24 | — | $81.7M | ||
| Q2 24 | — | $114.0M | ||
| Q1 24 | — | $53.4M | ||
| Q4 23 | — | $62.7M | ||
| Q3 23 | — | $104.1M |
| Q4 25 | — | 0.8% | ||
| Q3 25 | -2.0% | — | ||
| Q2 25 | 45.0% | 10.4% | ||
| Q4 24 | — | 8.8% | ||
| Q2 24 | — | 11.6% | ||
| Q1 24 | — | 5.7% | ||
| Q4 23 | — | 6.6% | ||
| Q3 23 | — | 10.1% |
| Q4 25 | — | 2.3% | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 1.1% | 5.2% | ||
| Q4 24 | — | 2.2% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 2.7% | ||
| Q4 23 | — | 1.9% | ||
| Q3 23 | — | 2.7% |
| Q4 25 | — | 0.57× | ||
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | 2.67× | ||
| Q4 24 | — | 2.18× | ||
| Q2 24 | — | 2.00× | ||
| Q1 24 | — | 1.27× | ||
| Q4 23 | — | 1.17× | ||
| Q3 23 | — | 1.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
