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Circle Internet Group, Inc.（CRCL）与Virtu Financial, Inc.（VIRT）财务数据对比。点击上方公司名可切换其他公司
Virtu Financial, Inc.的季度营收约是Circle Internet Group, Inc.的1.3倍（$969.9M vs $739.8M），Circle Internet Group, Inc.净利率更高（29.0% vs 14.4%，领先14.6%），Circle Internet Group, Inc.同比增速更快（5113.5% vs 16.3%），Virtu Financial, Inc.自由现金流更多（$495.6M vs $-14.7M）
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。
Virtu Financial, Inc.是一家总部位于美国的高频交易企业，专注于金融市场的自动化交易业务，拥有行业领先的交易技术研发与落地能力，于2015年在纳斯达克证券交易所正式挂牌上市。
CRCL vs VIRT — 直观对比
营收规模更大
VIRT
是对方的1.3倍
$739.8M
营收增速更快
CRCL
高出5097.3%
16.3%
净利率更高
CRCL
高出14.6%
14.4%
自由现金流更多
VIRT
多$510.3M
$-14.7M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $739.8M | $969.9M |
| 净利润 | $214.4M | $139.9M |
| 毛利率 | — | — |
| 营业利润率 | 11.0% | 35.4% |
| 净利率 | 29.0% | 14.4% |
| 营收同比 | 5113.5% | 16.3% |
| 净利润同比 | 202.0% | 48.7% |
| 每股收益（稀释后） | $0.64 | $1.54 |
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CRCLVIRT
| Q4 25 | — | $969.9M | ||
| Q3 25 | $739.8M | $824.8M | ||
| Q2 25 | $658.1M | $999.6M | ||
| Q1 25 | — | $837.9M | ||
| Q4 24 | — | $834.3M | ||
| Q3 24 | — | $706.8M | ||
| Q2 24 | $6.8M | $693.0M | ||
| Q1 24 | — | $642.8M |
净利润CRCLVIRT
| Q4 25 | — | $139.9M | ||
| Q3 25 | $214.4M | $77.6M | ||
| Q2 25 | $-482.1M | $151.2M | ||
| Q1 25 | — | $99.7M | ||
| Q4 24 | — | $94.1M | ||
| Q3 24 | — | $60.0M | ||
| Q2 24 | $32.9M | $66.6M | ||
| Q1 24 | — | $55.8M |
营业利润率CRCLVIRT
| Q4 25 | — | 35.4% | ||
| Q3 25 | 11.0% | 21.8% | ||
| Q2 25 | -49.5% | 34.7% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 22.4% | ||
| Q1 24 | — | 21.8% |
净利率CRCLVIRT
| Q4 25 | — | 14.4% | ||
| Q3 25 | 29.0% | 9.4% | ||
| Q2 25 | -73.3% | 15.1% | ||
| Q1 25 | — | 11.9% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 8.5% | ||
| Q2 24 | 486.5% | 9.6% | ||
| Q1 24 | — | 8.7% |
每股收益（稀释后）CRCLVIRT
| Q4 25 | — | $1.54 | ||
| Q3 25 | $0.64 | $0.86 | ||
| Q2 25 | $-4.48 | $1.65 | ||
| Q1 25 | — | $1.08 | ||
| Q4 24 | — | $1.03 | ||
| Q3 24 | — | $0.64 | ||
| Q2 24 | $0.00 | $0.71 | ||
| Q1 24 | — | $0.59 |
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 | $1.1B |
| 总债务越低越好 | — | $2.0B |
| 股东权益账面价值 | $3.0B | $1.6B |
| 总资产 | $76.8B | $20.2B |
| 负债/权益比越低杠杆越低 | — | 1.29× |
8季度趋势，按日历期对齐
现金及短期投资CRCLVIRT
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.3B | $707.9M | ||
| Q2 25 | $1.1B | $752.1M | ||
| Q1 25 | — | $723.6M | ||
| Q4 24 | — | $872.5M | ||
| Q3 24 | — | $701.4M | ||
| Q2 24 | $457.5M | $684.8M | ||
| Q1 24 | — | $399.6M |
总债务CRCLVIRT
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.7B |
股东权益CRCLVIRT
| Q4 25 | — | $1.6B | ||
| Q3 25 | $3.0B | $1.5B | ||
| Q2 25 | $2.4B | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $460.9M | $1.2B | ||
| Q1 24 | — | $1.2B |
总资产CRCLVIRT
| Q4 25 | — | $20.2B | ||
| Q3 25 | $76.8B | $21.3B | ||
| Q2 25 | $64.2B | $19.3B | ||
| Q1 25 | — | $17.5B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $14.4B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $12.8B |
负债/权益比CRCLVIRT
| Q4 25 | — | 1.29× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.41× | ||
| Q1 24 | — | 1.42× |
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 | $518.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $495.6M |
| 自由现金流率自由现金流/营收 | -2.0% | 51.1% |
| 资本支出强度资本支出/营收 | 0.5% | 2.4% |
| 现金转化率经营现金流/净利润 | -0.05× | 3.71× |
| 过去12个月自由现金流最近4个季度 | — | $485.6M |
8季度趋势，按日历期对齐
经营现金流CRCLVIRT
| Q4 25 | — | $518.4M | ||
| Q3 25 | $-10.7M | $-68.7M | ||
| Q2 25 | $303.7M | $62.8M | ||
| Q1 25 | — | $15.0M | ||
| Q4 24 | — | $599.0M | ||
| Q3 24 | — | $112.1M | ||
| Q2 24 | — | $490.8M | ||
| Q1 24 | — | $-395.4M |
自由现金流CRCLVIRT
| Q4 25 | — | $495.6M | ||
| Q3 25 | $-14.7M | $-76.7M | ||
| Q2 25 | $296.3M | $57.6M | ||
| Q1 25 | — | $9.2M | ||
| Q4 24 | — | $586.6M | ||
| Q3 24 | — | $106.2M | ||
| Q2 24 | — | $486.9M | ||
| Q1 24 | — | $-398.2M |
自由现金流率CRCLVIRT
| Q4 25 | — | 51.1% | ||
| Q3 25 | -2.0% | -9.3% | ||
| Q2 25 | 45.0% | 5.8% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 15.0% | ||
| Q2 24 | — | 70.3% | ||
| Q1 24 | — | -61.9% |
资本支出强度CRCLVIRT
| Q4 25 | — | 2.4% | ||
| Q3 25 | 0.5% | 1.0% | ||
| Q2 25 | 1.1% | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.4% |
现金转化率CRCLVIRT
| Q4 25 | — | 3.71× | ||
| Q3 25 | -0.05× | -0.89× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 6.37× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 7.37× | ||
| Q1 24 | — | -7.08× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
