vs
Circle Internet Group, Inc.（CRCL）与Hut 8 Corp.（HUT）财务数据对比。点击上方公司名可切换其他公司
Hut 8 Corp.的季度营收约是Circle Internet Group, Inc.的3.1倍（$88.5M vs $28.5M）。Circle Internet Group, Inc.净利率更高（751.8% vs -316.0%，领先1067.8%）。Circle Internet Group, Inc.同比增速更快（5113.5% vs 179.2%）
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。
Tropical Hut是菲律宾水星集团旗下的快餐连锁品牌，是菲律宾历史第七悠久的餐饮连锁品牌，创立时间早于1978年成立的快乐蜂及1981年进入菲律宾市场的麦当劳。
CRCL vs HUT — 直观对比
营收规模更大
HUT
是对方的3.1倍
$28.5M
营收增速更快
CRCL
高出4934.3%
179.2%
净利率更高
CRCL
高出1067.8%
-316.0%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $28.5M | $88.5M |
| 净利润 | $214.4M | $-279.7M |
| 毛利率 | — | 60.4% |
| 营业利润率 | — | -491.4% |
| 净利率 | 751.8% | -316.0% |
| 营收同比 | 5113.5% | 179.2% |
| 净利润同比 | 202.0% | -283.7% |
| 每股收益（稀释后） | $0.64 | $-2.45 |
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CRCLHUT
| Q4 25 | — | $88.5M | ||
| Q3 25 | $28.5M | $83.5M | ||
| Q2 25 | $23.8M | $41.3M | ||
| Q1 25 | — | $21.8M | ||
| Q4 24 | — | $31.7M | ||
| Q3 24 | $547.0K | $43.7M | ||
| Q2 24 | $6.8M | $35.2M | ||
| Q1 24 | — | $51.7M |
净利润CRCLHUT
| Q4 25 | — | $-279.7M | ||
| Q3 25 | $214.4M | $50.1M | ||
| Q2 25 | $-482.1M | $137.3M | ||
| Q1 25 | — | $-133.9M | ||
| Q4 24 | — | $152.2M | ||
| Q3 24 | $71.0M | $647.0K | ||
| Q2 24 | $32.9M | $-71.9M | ||
| Q1 24 | — | $250.9M |
毛利率CRCLHUT
| Q4 25 | — | 60.4% | ||
| Q3 25 | — | 61.3% | ||
| Q2 25 | — | 47.3% | ||
| Q1 25 | — | 14.5% | ||
| Q4 24 | — | 35.9% | ||
| Q3 24 | — | 59.9% | ||
| Q2 24 | — | 41.4% | ||
| Q1 24 | — | 45.6% |
营业利润率CRCLHUT
| Q4 25 | — | -491.4% | ||
| Q3 25 | — | 87.0% | ||
| Q2 25 | -1367.8% | — | ||
| Q1 25 | — | -676.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.6% | ||
| Q2 24 | — | -246.2% | ||
| Q1 24 | — | — |
净利率CRCLHUT
| Q4 25 | — | -316.0% | ||
| Q3 25 | 751.8% | 60.0% | ||
| Q2 25 | -2025.3% | 332.5% | ||
| Q1 25 | — | -613.7% | ||
| Q4 24 | — | 480.3% | ||
| Q3 24 | 12979.2% | 1.5% | ||
| Q2 24 | 486.5% | -204.1% | ||
| Q1 24 | — | 484.9% |
每股收益（稀释后）CRCLHUT
| Q4 25 | — | $-2.45 | ||
| Q3 25 | $0.64 | $0.43 | ||
| Q2 25 | $-4.48 | $1.18 | ||
| Q1 25 | — | $-1.30 | ||
| Q4 24 | — | $1.41 | ||
| Q3 24 | $0.00 | $0.01 | ||
| Q2 24 | $0.00 | $-0.78 | ||
| Q1 24 | — | $2.76 |
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 | $44.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.0B | $1.4B |
| 总资产 | $76.8B | $2.8B |
| 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CRCLHUT
| Q4 25 | — | $44.9M | ||
| Q3 25 | $1.3B | $33.5M | ||
| Q2 25 | $1.1B | $216.3M | ||
| Q1 25 | — | $108.4M | ||
| Q4 24 | — | $85.0M | ||
| Q3 24 | $577.3M | — | ||
| Q2 24 | $457.5M | — | ||
| Q1 24 | — | $11.5M |
总债务CRCLHUT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $300.6M | ||
| Q3 24 | — | $297.3M | ||
| Q2 24 | — | $328.8M | ||
| Q1 24 | — | $177.6M |
股东权益CRCLHUT
| Q4 25 | — | $1.4B | ||
| Q3 25 | $3.0B | $1.4B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | — | $960.0M | ||
| Q4 24 | — | $976.7M | ||
| Q3 24 | $557.7M | $703.9M | ||
| Q2 24 | $460.9M | $660.1M | ||
| Q1 24 | — | $732.0M |
总资产CRCLHUT
| Q4 25 | — | $2.8B | ||
| Q3 25 | $76.8B | $2.7B | ||
| Q2 25 | $64.2B | $2.0B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $999.0M |
负债/权益比CRCLHUT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.50× | ||
| Q1 24 | — | 0.24× |
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 | $-57.4M |
| 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CRCLHUT
| Q4 25 | — | $-57.4M | ||
| Q3 25 | $-10.7M | $770.0K | ||
| Q2 25 | — | $-48.8M | ||
| Q1 25 | — | $-33.8M | ||
| Q4 24 | — | $-21.6M | ||
| Q3 24 | — | $-4.2M | ||
| Q2 24 | — | $-16.4M | ||
| Q1 24 | — | $-26.3M |
自由现金流CRCLHUT
| Q4 25 | — | — | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率CRCLHUT
| Q4 25 | — | — | ||
| Q3 25 | -51.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度CRCLHUT
| Q4 25 | — | — | ||
| Q3 25 | 14.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率CRCLHUT
| Q4 25 | — | — | ||
| Q3 25 | -0.05× | 0.02× | ||
| Q2 25 | — | -0.36× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.14× | ||
| Q3 24 | — | -6.49× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.11× |
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% |
HUT
| High Performance Computing Colocation And Cloud | $81.9M | 93% |
| Power | $5.0M | 6% |
| Digital Infrastructure | $1.6M | 2% |
