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Circle Internet Group, Inc.（CRCL）与Block, Inc.（XYZ）财务数据对比。点击上方公司名可切换其他公司
Block, Inc.的季度营收约是Circle Internet Group, Inc.的8.5倍（$6.3B vs $739.8M），Circle Internet Group, Inc.净利率更高（29.0% vs 1.9%，领先27.1%），Circle Internet Group, Inc.同比增速更快（5113.5% vs 3.6%），Block, Inc.自由现金流更多（$579.8M 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。
Block, Inc.是美国科技企业，面向消费者与商户提供金融服务，由杰克·多尔西于2009年创立，是美国销售点系统领域的市场领导者。截至2024年，平台服务5700万用户及400万商户，年支付处理规模达2410亿美元。
CRCL vs XYZ — 直观对比
营收规模更大
XYZ
是对方的8.5倍
$739.8M
营收增速更快
CRCL
高出5109.9%
3.6%
净利率更高
CRCL
高出27.1%
1.9%
自由现金流更多
XYZ
多$594.5M
$-14.7M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $739.8M | $6.3B |
| 净利润 | $214.4M | $115.8M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 11.0% | 7.8% |
| 净利率 | 29.0% | 1.9% |
| 营收同比 | 5113.5% | 3.6% |
| 净利润同比 | 202.0% | -94.1% |
| 每股收益（稀释后） | $0.64 | $0.19 |
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CRCLXYZ
| Q4 25 | — | $6.3B | ||
| Q3 25 | $739.8M | $6.1B | ||
| Q2 25 | $658.1M | $6.1B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | — | $6.0B | ||
| Q3 24 | — | $6.0B | ||
| Q2 24 | $6.8M | $6.2B | ||
| Q1 24 | — | $6.0B |
净利润CRCLXYZ
| Q4 25 | — | $115.8M | ||
| Q3 25 | $214.4M | $461.5M | ||
| Q2 25 | $-482.1M | $538.5M | ||
| Q1 25 | — | $189.9M | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $283.8M | ||
| Q2 24 | $32.9M | $195.3M | ||
| Q1 24 | — | $472.0M |
毛利率CRCLXYZ
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 43.5% | ||
| Q2 25 | — | 41.9% | ||
| Q1 25 | — | 39.7% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 36.3% | ||
| Q1 24 | — | 35.2% |
营业利润率CRCLXYZ
| Q4 25 | — | 7.8% | ||
| Q3 25 | 11.0% | 6.7% | ||
| Q2 25 | -49.5% | 8.0% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 5.0% | ||
| Q1 24 | — | 4.2% |
净利率CRCLXYZ
| Q4 25 | — | 1.9% | ||
| Q3 25 | 29.0% | 7.5% | ||
| Q2 25 | -73.3% | 8.9% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 32.3% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | 486.5% | 3.2% | ||
| Q1 24 | — | 7.9% |
每股收益（稀释后）CRCLXYZ
| Q4 25 | — | $0.19 | ||
| Q3 25 | $0.64 | $0.74 | ||
| Q2 25 | $-4.48 | $0.87 | ||
| Q1 25 | — | $0.30 | ||
| Q4 24 | — | $3.06 | ||
| Q3 24 | — | $0.45 | ||
| Q2 24 | $0.00 | $0.31 | ||
| Q1 24 | — | $0.74 |
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 | $6.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.0B | $22.2B |
| 总资产 | $76.8B | $39.5B |
| 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CRCLXYZ
| Q4 25 | — | $6.6B | ||
| Q3 25 | $1.3B | $8.3B | ||
| Q2 25 | $1.1B | $6.4B | ||
| Q1 25 | — | $7.1B | ||
| Q4 24 | — | $8.1B | ||
| Q3 24 | — | $8.3B | ||
| Q2 24 | $457.5M | $7.8B | ||
| Q1 24 | — | $5.8B |
总债务CRCLXYZ
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
股东权益CRCLXYZ
| Q4 25 | — | $22.2B | ||
| Q3 25 | $3.0B | $22.5B | ||
| Q2 25 | $2.4B | $22.2B | ||
| Q1 25 | — | $21.5B | ||
| Q4 24 | — | $21.3B | ||
| Q3 24 | — | $19.9B | ||
| Q2 24 | $460.9M | $19.3B | ||
| Q1 24 | — | $19.0B |
总资产CRCLXYZ
| Q4 25 | — | $39.5B | ||
| Q3 25 | $76.8B | $39.2B | ||
| Q2 25 | $64.2B | $36.9B | ||
| Q1 25 | — | $36.4B | ||
| Q4 24 | — | $36.8B | ||
| Q3 24 | — | $36.4B | ||
| Q2 24 | — | $37.5B | ||
| Q1 24 | — | $35.6B |
负债/权益比CRCLXYZ
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $579.8M |
| 自由现金流率自由现金流/营收 | -2.0% | 9.3% |
| 资本支出强度资本支出/营收 | 0.5% | 0.7% |
| 现金转化率经营现金流/净利润 | -0.05× | 5.36× |
| 过去12个月自由现金流最近4个季度 | — | $2.4B |
8季度趋势，按日历期对齐
经营现金流CRCLXYZ
| Q4 25 | — | $621.0M | ||
| Q3 25 | $-10.7M | $1.5B | ||
| Q2 25 | $303.7M | $374.3M | ||
| Q1 25 | — | $133.3M | ||
| Q4 24 | — | $13.8M | ||
| Q3 24 | — | $684.8M | ||
| Q2 24 | — | $519.4M | ||
| Q1 24 | — | $489.4M |
自由现金流CRCLXYZ
| Q4 25 | — | $579.8M | ||
| Q3 25 | $-14.7M | $1.4B | ||
| Q2 25 | $296.3M | $343.0M | ||
| Q1 25 | — | $101.5M | ||
| Q4 24 | — | $-13.2M | ||
| Q3 24 | — | $628.2M | ||
| Q2 24 | — | $481.0M | ||
| Q1 24 | — | $457.4M |
自由现金流率CRCLXYZ
| Q4 25 | — | 9.3% | ||
| Q3 25 | -2.0% | 22.9% | ||
| Q2 25 | 45.0% | 5.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | -0.2% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 7.7% |
资本支出强度CRCLXYZ
| Q4 25 | — | 0.7% | ||
| Q3 25 | 0.5% | 0.8% | ||
| Q2 25 | 1.1% | 0.5% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.5% |
现金转化率CRCLXYZ
| Q4 25 | — | 5.36× | ||
| Q3 25 | -0.05× | 3.14× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 2.41× | ||
| Q2 24 | — | 2.66× | ||
| Q1 24 | — | 1.04× |
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
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
