vs
Circle Internet Group, Inc.（CRCL）与Defi Technologies, Inc.（DEFT）财务数据对比。点击上方公司名可切换其他公司
Defi Technologies, Inc.的季度营收约是Circle Internet Group, Inc.的1.8倍（$51.3M vs $28.5M）
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。
Defi Technologies Inc.是一家专注于去中心化金融（DeFi）与Web3领域的金融科技企业，为机构和零售客户提供数字资产投资渠道，开发区块链基础设施解决方案，管理DeFi相关资产及Web3初创企业投资组合，业务覆盖北美、欧洲及亚太市场。
CRCL vs DEFT — 直观对比
营收规模更大
DEFT
是对方的1.8倍
$28.5M
损益表 — Q3 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $28.5M | $51.3M |
| 净利润 | $214.4M | — |
| 毛利率 | — | — |
| 营业利润率 | — | -3.1% |
| 净利率 | 751.8% | — |
| 营收同比 | 5113.5% | — |
| 净利润同比 | 202.0% | — |
| 每股收益（稀释后） | $0.64 | $-0.01 |
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CRCLDEFT
| Q3 25 | $28.5M | $21.8M | ||
| Q2 25 | $23.8M | — | ||
| Q3 24 | $547.0K | — | ||
| Q2 24 | $6.8M | — |
净利润CRCLDEFT
| Q3 25 | $214.4M | — | ||
| Q2 25 | $-482.1M | — | ||
| Q3 24 | $71.0M | — | ||
| Q2 24 | $32.9M | — |
营业利润率CRCLDEFT
| Q3 25 | — | — | ||
| Q2 25 | -1367.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
净利率CRCLDEFT
| Q3 25 | 751.8% | — | ||
| Q2 25 | -2025.3% | — | ||
| Q3 24 | 12979.2% | — | ||
| Q2 24 | 486.5% | — |
每股收益（稀释后）CRCLDEFT
| Q3 25 | $0.64 | $0.08 | ||
| Q2 25 | $-4.48 | — | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $0.00 | — |
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 | $3.0B | — |
| 总资产 | $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CRCLDEFT
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.1B | — | ||
| Q3 24 | $577.3M | — | ||
| Q2 24 | $457.5M | — |
股东权益CRCLDEFT
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.4B | — | ||
| Q3 24 | $557.7M | — | ||
| Q2 24 | $460.9M | — |
总资产CRCLDEFT
| Q3 25 | $76.8B | — | ||
| Q2 25 | $64.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-10.7M | $-17.9M |
| 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CRCLDEFT
| Q3 25 | $-10.7M | $-27.1M | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流CRCLDEFT
| Q3 25 | $-14.7M | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率CRCLDEFT
| Q3 25 | -51.7% | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度CRCLDEFT
| Q3 25 | 14.2% | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率CRCLDEFT
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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
CRCL
| Subscription And Services Revenue | $23.6M | 83% |
| Transaction Services | $4.7M | 16% |
DEFT
| Revenues from realized and net change in unrealized gains (losses) | $29.3M | 57% |
| Staking and lending income | $16.8M | 33% |
| Management fees | $4.4M | 9% |
| Research revenue | $813.8K | 2% |
