vs
Circle Internet Group, Inc.（CRCL）与P3 Health Partners Inc.（PIII）财务数据对比。点击上方公司名可切换其他公司
Circle Internet Group, Inc.的季度营收约是P3 Health Partners Inc.的1.9倍（$739.8M vs $384.8M），Circle Internet Group, Inc.净利率更高（29.0% vs -19.6%，领先48.6%），Circle Internet Group, Inc.同比增速更快（5113.5% vs 3.8%）
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。
P3 Health Partners Inc.是一家总部位于美国的人口健康管理与价值型医疗服务企业，与基层医疗机构及医疗系统合作，为包括联邦医保优势计划参保者在内的人群提供协同优质医疗服务，致力于提升诊疗效果、降低不必要的医疗开支。
CRCL vs PIII — 直观对比
营收规模更大
CRCL
是对方的1.9倍
$384.8M
营收增速更快
CRCL
高出5109.7%
3.8%
净利率更高
CRCL
高出48.6%
-19.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $739.8M | $384.8M |
| 净利润 | $214.4M | $-75.5M |
| 毛利率 | — | — |
| 营业利润率 | 11.0% | -40.0% |
| 净利率 | 29.0% | -19.6% |
| 营收同比 | 5113.5% | 3.8% |
| 净利润同比 | 202.0% | -28.8% |
| 每股收益（稀释后） | $0.64 | $-23.08 |
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CRCLPIII
| Q4 25 | — | $384.8M | ||
| Q3 25 | $739.8M | $345.3M | ||
| Q2 25 | $658.1M | $355.8M | ||
| Q1 25 | — | $373.2M | ||
| Q4 24 | — | $370.7M | ||
| Q3 24 | — | $362.1M | ||
| Q2 24 | $6.8M | $379.2M | ||
| Q1 24 | — | $388.5M |
净利润CRCLPIII
| Q4 25 | — | $-75.5M | ||
| Q3 25 | $214.4M | $-31.6M | ||
| Q2 25 | $-482.1M | $-20.4M | ||
| Q1 25 | — | $-20.5M | ||
| Q4 24 | — | $-58.6M | ||
| Q3 24 | — | $-46.5M | ||
| Q2 24 | $32.9M | $-12.0M | ||
| Q1 24 | — | $-18.7M |
营业利润率CRCLPIII
| Q4 25 | — | -40.0% | ||
| Q3 25 | 11.0% | -12.8% | ||
| Q2 25 | -49.5% | -9.6% | ||
| Q1 25 | — | -10.2% | ||
| Q4 24 | — | -37.4% | ||
| Q3 24 | — | -29.5% | ||
| Q2 24 | — | -8.3% | ||
| Q1 24 | — | -11.3% |
净利率CRCLPIII
| Q4 25 | — | -19.6% | ||
| Q3 25 | 29.0% | -9.1% | ||
| Q2 25 | -73.3% | -5.7% | ||
| Q1 25 | — | -5.5% | ||
| Q4 24 | — | -15.8% | ||
| Q3 24 | — | -12.8% | ||
| Q2 24 | 486.5% | -3.2% | ||
| Q1 24 | — | -4.8% |
每股收益（稀释后）CRCLPIII
| Q4 25 | — | $-23.08 | ||
| Q3 25 | $0.64 | $-9.67 | ||
| Q2 25 | $-4.48 | $-6.23 | ||
| Q1 25 | — | $-6.28 | ||
| Q4 24 | — | $-23.13 | ||
| Q3 24 | — | $-15.70 | ||
| Q2 24 | $0.00 | $-7.37 | ||
| Q1 24 | — | $-7.86 |
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 | $25.0M |
| 总债务越低越好 | — | $228.4M |
| 股东权益账面价值 | $3.0B | $-155.2M |
| 总资产 | $76.8B | $656.6M |
| 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CRCLPIII
| Q4 25 | — | $25.0M | ||
| Q3 25 | $1.3B | $37.7M | ||
| Q2 25 | $1.1B | $38.6M | ||
| Q1 25 | — | $40.1M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | — | $63.0M | ||
| Q2 24 | $457.5M | $73.1M | ||
| Q1 24 | — | $27.3M |
总债务CRCLPIII
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
股东权益CRCLPIII
| Q4 25 | — | $-155.2M | ||
| Q3 25 | $3.0B | $-18.7M | ||
| Q2 25 | $2.4B | $44.5M | ||
| Q1 25 | — | $63.3M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | — | $120.5M | ||
| Q2 24 | $460.9M | $166.8M | ||
| Q1 24 | — | $146.6M |
总资产CRCLPIII
| Q4 25 | — | $656.6M | ||
| Q3 25 | $76.8B | $683.6M | ||
| Q2 25 | $64.2B | $731.6M | ||
| Q1 25 | — | $783.9M | ||
| Q4 24 | — | $783.4M | ||
| Q3 24 | — | $833.3M | ||
| Q2 24 | — | $892.8M | ||
| Q1 24 | — | $855.9M |
负债/权益比CRCLPIII
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.81× |
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 | $-25.7M |
| 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 | -2.0% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 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CRCLPIII
| Q4 25 | — | $-25.7M | ||
| Q3 25 | $-10.7M | $-15.4M | ||
| Q2 25 | $303.7M | $-16.6M | ||
| Q1 25 | — | $-33.5M | ||
| Q4 24 | — | $-57.2M | ||
| Q3 24 | — | $-22.6M | ||
| Q2 24 | — | $-10.2M | ||
| Q1 24 | — | $-20.0M |
自由现金流CRCLPIII
| Q4 25 | — | — | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | $296.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率CRCLPIII
| Q4 25 | — | — | ||
| Q3 25 | -2.0% | — | ||
| Q2 25 | 45.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度CRCLPIII
| Q4 25 | — | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
现金转化率CRCLPIII
| Q4 25 | — | — | ||
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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
暂无分部数据
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
