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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and Teradyne (TER). Click either name above to swap in a different company.
Teradyne 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 23.7%, a 5.2% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 43.9%). Teradyne produced more free cash flow last quarter ($218.8M 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.
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
CRCL vs TER — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $1.1B |
| Net Profit | $214.4M | $257.2M |
| Gross Margin | — | 57.2% |
| Operating Margin | 11.0% | 27.1% |
| Net Margin | 29.0% | 23.7% |
| Revenue YoY | 5113.5% | 43.9% |
| Net Profit YoY | 202.0% | 75.9% |
| EPS (diluted) | $0.64 | $1.62 |
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 | $769.2M | ||
| Q2 25 | $658.1M | $651.8M | ||
| Q1 25 | — | $685.7M | ||
| Q4 24 | — | $752.9M | ||
| Q3 24 | — | $737.3M | ||
| Q2 24 | $6.8M | $729.9M | ||
| Q1 24 | — | $599.8M |
| Q4 25 | — | $257.2M | ||
| Q3 25 | $214.4M | $119.6M | ||
| Q2 25 | $-482.1M | $78.4M | ||
| Q1 25 | — | $98.9M | ||
| Q4 24 | — | $146.3M | ||
| Q3 24 | — | $145.6M | ||
| Q2 24 | $32.9M | $186.3M | ||
| Q1 24 | — | $64.2M |
| Q4 25 | — | 57.2% | ||
| Q3 25 | — | 58.4% | ||
| Q2 25 | — | 57.2% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 59.4% | ||
| Q3 24 | — | 59.2% | ||
| Q2 24 | — | 58.3% | ||
| Q1 24 | — | 56.6% |
| Q4 25 | — | 27.1% | ||
| Q3 25 | 11.0% | 18.9% | ||
| Q2 25 | -49.5% | 13.9% | ||
| Q1 25 | — | 17.6% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 20.6% | ||
| Q2 24 | — | 28.8% | ||
| Q1 24 | — | 13.0% |
| Q4 25 | — | 23.7% | ||
| Q3 25 | 29.0% | 15.5% | ||
| Q2 25 | -73.3% | 12.0% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 19.4% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | 486.5% | 25.5% | ||
| Q1 24 | — | 10.7% |
| Q4 25 | — | $1.62 | ||
| Q3 25 | $0.64 | $0.75 | ||
| Q2 25 | $-4.48 | $0.49 | ||
| Q1 25 | — | $0.61 | ||
| Q4 24 | — | $0.89 | ||
| Q3 24 | — | $0.89 | ||
| Q2 24 | $0.00 | $1.14 | ||
| Q1 24 | — | $0.40 |
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 | $293.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $2.8B |
| Total Assets | $76.8B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $293.8M | ||
| Q3 25 | $1.3B | $272.7M | ||
| Q2 25 | $1.1B | $339.3M | ||
| Q1 25 | — | $475.6M | ||
| Q4 24 | — | $553.4M | ||
| Q3 24 | — | $510.0M | ||
| Q2 24 | $457.5M | $421.9M | ||
| Q1 24 | — | $707.4M |
| Q4 25 | — | $2.8B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $2.4B | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | $460.9M | $2.7B | ||
| Q1 24 | — | $2.6B |
| Q4 25 | — | $4.2B | ||
| Q3 25 | $76.8B | $4.0B | ||
| Q2 25 | $64.2B | $3.8B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.8B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.4B |
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 | $281.6M |
| Free Cash FlowOCF − Capex | $-14.7M | $218.8M |
| FCF MarginFCF / Revenue | -2.0% | 20.2% |
| Capex IntensityCapex / Revenue | 0.5% | 5.8% |
| Cash ConversionOCF / Net Profit | -0.05× | 1.09× |
| TTM Free Cash FlowTrailing 4 quarters | — | $450.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $281.6M | ||
| Q3 25 | $-10.7M | $49.0M | ||
| Q2 25 | $303.7M | $182.1M | ||
| Q1 25 | — | $161.6M | ||
| Q4 24 | — | $282.6M | ||
| Q3 24 | — | $166.3M | ||
| Q2 24 | — | $216.1M | ||
| Q1 24 | — | $7.3M |
| Q4 25 | — | $218.8M | ||
| Q3 25 | $-14.7M | $2.4M | ||
| Q2 25 | $296.3M | $131.7M | ||
| Q1 25 | — | $97.6M | ||
| Q4 24 | — | $225.2M | ||
| Q3 24 | — | $114.4M | ||
| Q2 24 | — | $171.2M | ||
| Q1 24 | — | $-36.7M |
| Q4 25 | — | 20.2% | ||
| Q3 25 | -2.0% | 0.3% | ||
| Q2 25 | 45.0% | 20.2% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 23.5% | ||
| Q1 24 | — | -6.1% |
| Q4 25 | — | 5.8% | ||
| Q3 25 | 0.5% | 6.1% | ||
| Q2 25 | 1.1% | 7.7% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 6.1% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | — | 1.09× | ||
| Q3 25 | -0.05× | 0.41× | ||
| Q2 25 | — | 2.32× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.93× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.16× | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
Segment breakdown not available.
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
