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Circle Internet Group, Inc.（CRCL）与Riot Platforms, Inc.（RIOT）财务数据对比。点击上方公司名可切换其他公司
Riot Platforms, Inc.的季度营收约是Circle Internet Group, Inc.的5.4倍（$152.8M vs $28.5M）。Circle Internet Group, Inc.净利率更高（751.8% vs -452.0%，领先1203.7%）。Circle Internet Group, Inc.同比增速更快（5113.5% vs 7.2%）。Circle Internet Group, Inc.自由现金流更多（$-14.7M vs $-188.0M）
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。
Riot Platforms是美国领先的比特币挖矿企业，在北美地区运营多座大规模高能效的加密货币矿场，同时布局区块链相关基础设施业务，长期持有比特币作为核心储备资产，专注于数字资产生态相关业务的长期发展。
CRCL vs RIOT — 直观对比
营收规模更大
RIOT
是对方的5.4倍
$28.5M
营收增速更快
CRCL
高出5106.3%
7.2%
净利率更高
CRCL
高出1203.7%
-452.0%
自由现金流更多
CRCL
多$173.2M
$-188.0M
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $28.5M | $152.8M |
| 净利润 | $214.4M | $-690.7M |
| 毛利率 | — | — |
| 营业利润率 | — | -447.9% |
| 净利率 | 751.8% | -452.0% |
| 营收同比 | 5113.5% | 7.2% |
| 净利润同比 | 202.0% | -606.3% |
| 每股收益（稀释后） | $0.64 | $-1.89 |
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CRCLRIOT
| Q4 25 | — | $152.8M | ||
| Q3 25 | $28.5M | $180.2M | ||
| Q2 25 | $23.8M | $153.0M | ||
| Q1 25 | — | $161.4M | ||
| Q4 24 | — | $142.6M | ||
| Q3 24 | $547.0K | $84.8M | ||
| Q2 24 | $6.8M | $70.0M | ||
| Q1 24 | — | $79.3M |
净利润CRCLRIOT
| Q4 25 | — | $-690.7M | ||
| Q3 25 | $214.4M | $104.5M | ||
| Q2 25 | $-482.1M | $219.5M | ||
| Q1 25 | — | $-296.4M | ||
| Q4 24 | — | $136.4M | ||
| Q3 24 | $71.0M | $-154.4M | ||
| Q2 24 | $32.9M | $-84.4M | ||
| Q1 24 | — | $211.8M |
营业利润率CRCLRIOT
| Q4 25 | — | -447.9% | ||
| Q3 25 | — | 44.4% | ||
| Q2 25 | -1367.8% | — | ||
| Q1 25 | — | -144.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -143.3% | ||
| Q2 24 | — | -167.2% | ||
| Q1 24 | — | — |
净利率CRCLRIOT
| Q4 25 | — | -452.0% | ||
| Q3 25 | 751.8% | 58.0% | ||
| Q2 25 | -2025.3% | 143.4% | ||
| Q1 25 | — | -183.6% | ||
| Q4 24 | — | 95.7% | ||
| Q3 24 | 12979.2% | -182.1% | ||
| Q2 24 | 486.5% | -120.6% | ||
| Q1 24 | — | 267.1% |
每股收益（稀释后）CRCLRIOT
| Q4 25 | — | $-1.89 | ||
| Q3 25 | $0.64 | $0.26 | ||
| Q2 25 | $-4.48 | $0.58 | ||
| Q1 25 | — | $-0.90 | ||
| Q4 24 | — | $0.39 | ||
| Q3 24 | $0.00 | $-0.54 | ||
| Q2 24 | $0.00 | $-0.32 | ||
| Q1 24 | — | $0.81 |
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 | $233.5M |
| 总债务越低越好 | — | $840.8M |
| 股东权益账面价值 | $3.0B | $2.9B |
| 总资产 | $76.8B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 0.29× |
8季度趋势，按日历期对齐
现金及短期投资CRCLRIOT
| Q4 25 | — | $233.5M | ||
| Q3 25 | $1.3B | $330.7M | ||
| Q2 25 | $1.1B | $255.4M | ||
| Q1 25 | — | $163.7M | ||
| Q4 24 | — | $277.9M | ||
| Q3 24 | $577.3M | $355.7M | ||
| Q2 24 | $457.5M | $481.2M | ||
| Q1 24 | — | $688.5M |
总债务CRCLRIOT
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $5.3M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CRCLRIOT
| Q4 25 | — | $2.9B | ||
| Q3 25 | $3.0B | $3.5B | ||
| Q2 25 | $2.4B | $3.3B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $557.7M | $2.7B | ||
| Q2 24 | $460.9M | $2.6B | ||
| Q1 24 | — | $2.5B |
总资产CRCLRIOT
| Q4 25 | — | $3.9B | ||
| Q3 25 | $76.8B | $4.5B | ||
| Q2 25 | $64.2B | $4.3B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.6B |
负债/权益比CRCLRIOT
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 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 | $-105.5M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $-188.0M |
| 自由现金流率自由现金流/营收 | -51.7% | -123.0% |
| 资本支出强度资本支出/营收 | 14.2% | 54.0% |
| 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 | — | $-774.3M |
8季度趋势，按日历期对齐
经营现金流CRCLRIOT
| Q4 25 | — | $-105.5M | ||
| Q3 25 | $-10.7M | $-114.0M | ||
| Q2 25 | — | $-231.3M | ||
| Q1 25 | — | $-122.1M | ||
| Q4 24 | — | $-98.4M | ||
| Q3 24 | — | $-56.3M | ||
| Q2 24 | — | $-42.5M | ||
| Q1 24 | — | $-57.9M |
自由现金流CRCLRIOT
| Q4 25 | — | $-188.0M | ||
| Q3 25 | $-14.7M | $-139.7M | ||
| Q2 25 | — | $-291.7M | ||
| Q1 25 | — | $-154.9M | ||
| Q4 24 | — | $-156.6M | ||
| Q3 24 | — | $-127.6M | ||
| Q2 24 | — | $-96.1M | ||
| Q1 24 | — | $-115.2M |
自由现金流率CRCLRIOT
| Q4 25 | — | -123.0% | ||
| Q3 25 | -51.7% | -77.5% | ||
| Q2 25 | — | -190.7% | ||
| Q1 25 | — | -96.0% | ||
| Q4 24 | — | -109.8% | ||
| Q3 24 | — | -150.5% | ||
| Q2 24 | — | -137.2% | ||
| Q1 24 | — | -145.2% |
资本支出强度CRCLRIOT
| Q4 25 | — | 54.0% | ||
| Q3 25 | 14.2% | 14.3% | ||
| Q2 25 | — | 39.5% | ||
| Q1 25 | — | 20.4% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | — | 84.1% | ||
| Q2 24 | — | 76.5% | ||
| Q1 24 | — | 72.3% |
现金转化率CRCLRIOT
| Q4 25 | — | — | ||
| Q3 25 | -0.05× | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.72× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.27× |
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% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
