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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and PLEXUS CORP (PLXS). Click either name above to swap in a different company.
PLEXUS CORP is the larger business by last-quarter revenue ($1.2B vs $739.8M, roughly 1.6× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs 4.3%, a 24.7% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 18.7%).
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.
Plex Systems, Inc. is an American software company based in Troy, Michigan. The company develops and markets the Plex Manufacturing Cloud, a software as a service (SaaS) or cloud computing ERP for manufacturing.
CRCL vs PLXS — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $1.2B |
| Net Profit | $214.4M | $49.8M |
| Gross Margin | — | 10.2% |
| Operating Margin | 11.0% | 5.3% |
| Net Margin | 29.0% | 4.3% |
| Revenue YoY | 5113.5% | 18.7% |
| Net Profit YoY | 202.0% | 27.5% |
| EPS (diluted) | $0.64 | $1.82 |
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.
| Q1 26 | — | $1.1B | ||
| Q3 25 | $739.8M | — | ||
| Q2 25 | $658.1M | — | ||
| Q2 24 | $6.8M | — | ||
| Q3 23 | — | $1.0B | ||
| Q2 23 | — | $1.1B | ||
| Q4 22 | — | $1.2B | ||
| Q3 22 | — | $1.0B |
| Q1 26 | — | $41.2M | ||
| Q3 25 | $214.4M | — | ||
| Q2 25 | $-482.1M | — | ||
| Q2 24 | $32.9M | — | ||
| Q3 23 | — | $15.8M | ||
| Q2 23 | — | $40.8M | ||
| Q4 22 | — | $50.5M | ||
| Q3 22 | — | $37.5M |
| Q1 26 | — | 9.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | 8.9% | ||
| Q2 23 | — | 9.4% | ||
| Q4 22 | — | 9.3% | ||
| Q3 22 | — | 9.2% |
| Q1 26 | — | 5.1% | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | -49.5% | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | 2.7% | ||
| Q2 23 | — | 5.2% | ||
| Q4 22 | — | 5.4% | ||
| Q3 22 | — | 4.9% |
| Q1 26 | — | 3.8% | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | -73.3% | — | ||
| Q2 24 | 486.5% | — | ||
| Q3 23 | — | 1.5% | ||
| Q2 23 | — | 3.7% | ||
| Q4 22 | — | 4.4% | ||
| Q3 22 | — | 3.7% |
| Q1 26 | — | $1.51 | ||
| Q3 25 | $0.64 | — | ||
| Q2 25 | $-4.48 | — | ||
| Q2 24 | $0.00 | — | ||
| Q3 23 | — | $0.56 | ||
| Q2 23 | — | $1.45 | ||
| Q4 22 | — | $1.76 | ||
| Q3 22 | — | $1.33 |
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 | $303.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $1.5B |
| Total Assets | $76.8B | $3.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $248.8M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.1B | — | ||
| Q2 24 | $457.5M | — | ||
| Q3 23 | — | $253.0M | ||
| Q2 23 | — | $269.7M | ||
| Q4 22 | — | $274.8M | ||
| Q3 22 | — | $276.6M |
| Q1 26 | — | $1.5B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.4B | — | ||
| Q2 24 | $460.9M | — | ||
| Q3 23 | — | $1.2B | ||
| Q2 23 | — | $1.2B | ||
| Q4 22 | — | $1.1B | ||
| Q3 22 | — | $1.1B |
| Q1 26 | — | $3.2B | ||
| Q3 25 | $76.8B | — | ||
| Q2 25 | $64.2B | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | $3.4B | ||
| Q2 23 | — | $3.4B | ||
| Q4 22 | — | $3.4B | ||
| Q3 22 | — | $3.2B |
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 | — |
| Free Cash FlowOCF − Capex | $-14.7M | — |
| FCF MarginFCF / Revenue | -2.0% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | -0.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q3 25 | $-10.7M | — | ||
| Q2 25 | $303.7M | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | $18.8M | ||
| Q2 23 | — | $106.0M | ||
| Q4 22 | — | $-26.2M | ||
| Q3 22 | — | $-21.2M |
| Q1 26 | — | — | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | $296.3M | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | $-11.5M | ||
| Q2 23 | — | $79.5M | ||
| Q4 22 | — | $-127.9M | ||
| Q3 22 | — | $-42.0M |
| Q1 26 | — | — | ||
| Q3 25 | -2.0% | — | ||
| Q2 25 | 45.0% | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | -1.1% | ||
| Q2 23 | — | 7.3% | ||
| Q4 22 | — | -11.1% | ||
| Q3 22 | — | -4.2% |
| Q1 26 | — | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 1.1% | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | 2.9% | ||
| Q2 23 | — | 2.4% | ||
| Q4 22 | — | 8.8% | ||
| Q3 22 | — | 2.1% |
| Q1 26 | — | — | ||
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | 1.19× | ||
| Q2 23 | — | 2.59× | ||
| Q4 22 | — | -0.52× | ||
| Q3 22 | — | -0.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
Segment breakdown not available.
PLXS
| Asia-Pacific | $652.0M | 56% |
| Americas | $397.0M | 34% |
| Europe, Middle East and Africa | $116.0M | 10% |
