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American Bitcoin Corp.（ABTC）与Circle Internet Group, Inc.（CRCL）财务数据对比。点击上方公司名可切换其他公司
American Bitcoin Corp.的季度营收约是Circle Internet Group, Inc.的4.1倍（$118.0M vs $28.5M）。Circle Internet Group, Inc.同比增速更快（5113.5% vs 151.5%）
美国比特币公司专注于比特币相关业务领域。比特币是首个去中心化加密货币，由化名为中本聪的匿名人士于2008年发布白皮书后诞生，2009年随着开源代码上线正式投入使用，问世以来对全球金融与数字货币领域都产生了极为深远的影响。
Circle是2013年由杰里米·阿莱尔与肖恩·内维尔联合创立的支付科技企业，目前总部位于美国纽约，核心业务覆盖稳定币发行，推出了锚定美元的USDC、锚定欧元的EURC两款稳定币，同时还发行有代币化货币市场基金产品USYC。
ABTC vs CRCL — 直观对比
营收规模更大
ABTC
是对方的4.1倍
$28.5M
营收增速更快
CRCL
高出4962.0%
151.5%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $118.0M | $28.5M |
| 净利润 | — | $214.4M |
| 毛利率 | 49.1% | — |
| 营业利润率 | -192.8% | — |
| 净利率 | — | 751.8% |
| 营收同比 | 151.5% | 5113.5% |
| 净利润同比 | — | 202.0% |
| 每股收益（稀释后） | $-0.07 | $0.64 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ABTCCRCL
| Q4 25 | $118.0M | — | ||
| Q3 25 | $64.2M | $28.5M | ||
| Q2 25 | $1.4M | $23.8M | ||
| Q1 25 | $1.6M | — | ||
| Q4 24 | $46.9M | — | ||
| Q3 24 | $11.6M | $547.0K | ||
| Q2 24 | $5.5M | $6.8M | ||
| Q1 24 | $7.5M | — |
净利润ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | $3.5M | $214.4M | ||
| Q2 25 | $3.4M | $-482.1M | ||
| Q1 25 | $-100.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-576.0K | $71.0M | ||
| Q2 24 | $-61.1M | $32.9M | ||
| Q1 24 | $230.4M | — |
毛利率ABTCCRCL
| Q4 25 | 49.1% | — | ||
| Q3 25 | 56.0% | — | ||
| Q2 25 | -16.8% | — | ||
| Q1 25 | -31.8% | — | ||
| Q4 24 | 57.9% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 35.4% | — |
营业利润率ABTCCRCL
| Q4 25 | -192.8% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | -162.1% | -1367.8% | ||
| Q1 25 | -350.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -87.8% | — | ||
| Q2 24 | -106.4% | — | ||
| Q1 24 | -20.8% | — |
净利率ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | 5.4% | 751.8% | ||
| Q2 25 | 249.2% | -2025.3% | ||
| Q1 25 | -6458.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -5.0% | 12979.2% | ||
| Q2 24 | -1107.2% | 486.5% | ||
| Q1 24 | 3076.2% | — |
每股收益（稀释后）ABTCCRCL
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $0.06 | $0.64 | ||
| Q2 25 | $-0.07 | $-4.48 | ||
| Q1 25 | $-0.09 | — | ||
| Q4 24 | $1.10 | — | ||
| Q3 24 | $-0.15 | $0.00 | ||
| Q2 24 | $-0.10 | $0.00 | ||
| Q1 24 | $-0.36 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $665.8M | $3.0B |
| 总资产 | $1.2B | $76.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $750.0K | $1.1B | ||
| Q1 25 | $367.0K | — | ||
| Q4 24 | $850.0K | — | ||
| Q3 24 | $478.0K | $577.3M | ||
| Q2 24 | $1.4M | $457.5M | ||
| Q1 24 | $1.9M | — |
股东权益ABTCCRCL
| Q4 25 | $665.8M | — | ||
| Q3 25 | $575.5M | $3.0B | ||
| Q2 25 | $339.7M | $2.4B | ||
| Q1 25 | $115.8M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $697.5M | $557.7M | ||
| Q2 24 | $614.3M | $460.9M | ||
| Q1 24 | $696.8M | — |
总资产ABTCCRCL
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $76.8B | ||
| Q2 25 | $6.2M | $64.2B | ||
| Q1 25 | $9.0M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $7.5M | — | ||
| Q2 24 | $11.4M | — | ||
| Q1 24 | $17.8M | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-36.5M | $-10.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-14.7M |
| 自由现金流率自由现金流/营收 | — | -51.7% |
| 资本支出强度资本支出/营收 | — | 14.2% |
| 现金转化率经营现金流/净利润 | — | -0.05× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ABTCCRCL
| Q4 25 | $-36.5M | — | ||
| Q3 25 | $-39.0M | $-10.7M | ||
| Q2 25 | $-879.0K | — | ||
| Q1 25 | $-3.2M | — | ||
| Q4 24 | $23.6M | — | ||
| Q3 24 | $-76.8M | — | ||
| Q2 24 | $201.0K | — | ||
| Q1 24 | $-983.0K | — |
自由现金流ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | — | $-14.7M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-79.3M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | — | -51.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -683.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率ABTCCRCL
| Q4 25 | — | — | ||
| Q3 25 | -11.21× | -0.05× | ||
| Q2 25 | -0.26× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.00× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ABTC
暂无分部数据
CRCL
| Subscription And Services Revenue | $23.6M | 83% |
| Transaction Services | $4.7M | 16% |
